WEBVTT
1
00:00:00.160 --> 00:00:06.000
Support for the following podcast is provided
by the user experience specialists at Johnson Taylor.
2
00:00:06.360 --> 00:00:12.160
More information follows this episode. What
if you no longer had to worry
3
00:00:12.160 --> 00:00:15.400
about the money you need to retire, You just have to think about what
4
00:00:15.439 --> 00:00:19.359
you're going to do with your time. I'm Joe Taylor Junior. This is
5
00:00:19.480 --> 00:00:26.960
Search and Replace. Dayleen Higgins likes
to plan ahead. I worked in the
6
00:00:27.000 --> 00:00:30.359
government sector, changed agencies, and
I was like, okay, I did
7
00:00:30.440 --> 00:00:34.200
seventeen years. There I can do. And the light bulb went off.
8
00:00:34.320 --> 00:00:39.399
I only had to do thirteen more
years to be able to access my pension,
9
00:00:40.840 --> 00:00:46.280
and I realized, if I wanted
to retire in that quote thirteen years,
10
00:00:46.520 --> 00:00:50.359
I had to be prepared. So
I'm the kind of person who's not
11
00:00:50.439 --> 00:00:54.719
sure what I'm going to be doing
in thirteen weeks, let alone thirteen years.
12
00:00:54.759 --> 00:00:58.359
Maybe you were the same way,
But Dayleen's got the kind of brain
13
00:00:58.479 --> 00:01:02.880
that's optimized to think about out long
term planning. And the folks over at
14
00:01:02.880 --> 00:01:08.599
Motley Fool reviewed some consumer surveys among
Americans, who are already notorious for not
15
00:01:10.079 --> 00:01:15.280
saving very much money very well.
Most studies and surveys show that most of
16
00:01:15.400 --> 00:01:19.200
us don't get serious about saving for
retirement until we're in our thirties and forties.
17
00:01:19.760 --> 00:01:23.400
So when did Dayleen get this burst
of inspiration. I was about thirty
18
00:01:23.439 --> 00:01:27.840
five. That was my AHA moment. I better get my button gear if
19
00:01:27.920 --> 00:01:33.439
I wanted to retire that early.
So I really got focused on budgeting.
20
00:01:33.599 --> 00:01:38.239
And I know everybody hates spend budgeting, but it was the driving force of
21
00:01:38.280 --> 00:01:44.120
my entire fifteen year journey. I
really started focusing and really getting into the
22
00:01:44.159 --> 00:01:48.079
meat and bones of all my numbers, so making sure we're spending correctly,
23
00:01:48.159 --> 00:01:52.319
that we're saving in all of the
accounts we need to and to support us
24
00:01:52.519 --> 00:01:57.519
also supporting what we were doing in
the moment, so enjoying life. We
25
00:01:57.519 --> 00:02:00.200
were both working full time, We
had our daughter things she wanted to do.
26
00:02:00.560 --> 00:02:05.159
I just got really focused on different
areas, how can I be better?
27
00:02:05.400 --> 00:02:07.680
Like on my groceries. I'm always
been a mail planner, but you
28
00:02:07.680 --> 00:02:10.800
know, was there anything more I
could learn? Anything more I could do
29
00:02:10.919 --> 00:02:15.479
and explore all of the different things, and it might have given me,
30
00:02:15.919 --> 00:02:19.120
you know, five dollars ten dollars
a month or a pay check, but
31
00:02:19.240 --> 00:02:23.680
that slowly added up as I continued
the journey, I think the hardest thing
32
00:02:23.080 --> 00:02:29.479
was us really pausing on a lot
of our expenses. It was really do
33
00:02:29.520 --> 00:02:32.240
we need it or can we pause
for another month? So that was probably
34
00:02:32.240 --> 00:02:38.919
the bumpiest where we were second guessing
some of those expenses that were never second
35
00:02:38.000 --> 00:02:42.879
guests before, you know, going
that extra layer deep. And for Daileen
36
00:02:42.919 --> 00:02:46.840
and her family, a lot of
that second layer involved the ways they spent
37
00:02:46.000 --> 00:02:50.120
their leisure time. Even though I
know a lot of people are like you
38
00:02:50.159 --> 00:02:53.639
probably did absolutely nothing, and I
like to share with them like we did
39
00:02:53.759 --> 00:02:55.639
as a family. We had this
piece of property, we enjoyed it.
40
00:02:55.759 --> 00:03:00.879
We had vehicles, we had a
camp trailer. As my daughter got busier,
41
00:03:00.000 --> 00:03:04.840
we sold the camp trailer, sold
the motorcycles. So with the selling
42
00:03:04.919 --> 00:03:07.840
of that we were able to put
quite a bit down on our home.
43
00:03:07.960 --> 00:03:14.240
So as we're approaching this this timeline, like our home was paid off,
44
00:03:14.400 --> 00:03:20.439
so that also helped being able to
come into retirement without a mortgage. Now
45
00:03:20.439 --> 00:03:23.520
we do have an investment property that
my daughter lives in up for school,
46
00:03:23.759 --> 00:03:27.919
and so we do have still a
little bit, but we were able to
47
00:03:28.639 --> 00:03:32.120
get everything paid off, really just
stay the course, build up her emergency
48
00:03:32.159 --> 00:03:36.599
funds, be able to support.
I was like, Okay, this is
49
00:03:36.719 --> 00:03:42.680
real. So Dalen perfectly executed her
plan, which meant she could officially retire
50
00:03:42.919 --> 00:03:47.319
from her government job at her target
age. And then what what do you
51
00:03:47.400 --> 00:03:53.120
do with your time when most folks
in your age group are still grinding away?
52
00:03:53.439 --> 00:03:55.919
As I was retiring, I thought, well, I'm still too young
53
00:03:57.039 --> 00:04:00.719
to just you know, sit around
do nothing. So I was trying to
54
00:04:00.759 --> 00:04:04.000
find something to fell part of my
day, and I came across financial coaching
55
00:04:04.039 --> 00:04:10.599
and I'm like, oh my,
heck, I could help others using this
56
00:04:10.800 --> 00:04:15.719
momentum I have and this excitement to
be able to help fuel them and understanding
57
00:04:15.879 --> 00:04:18.079
of all the little steps that took
me to get there, as well as
58
00:04:18.720 --> 00:04:23.040
figuring out what life on the other
side looks like. Because I think a
59
00:04:23.079 --> 00:04:27.279
lot of people only worry about the
money, but yet they don't realize that
60
00:04:27.360 --> 00:04:30.839
the lifestyle and impairing those two together
is so important. You know. It's
61
00:04:30.920 --> 00:04:36.240
really just that scarce mentality and just
thinking about, well, how can you
62
00:04:36.319 --> 00:04:42.839
be more abundant, how can you
take those steps to help yourself enjoy the
63
00:04:42.959 --> 00:04:47.439
quality of life you want without worrying
so much about money. I found it.
64
00:04:47.439 --> 00:04:51.399
It just connected. It I love
working with numbers. I love helping
65
00:04:51.519 --> 00:04:55.480
bring those numbers to the people and
let them believe in what they see.
66
00:04:55.560 --> 00:04:59.560
And most clients of mine that I
work with then after one session they're like,
67
00:04:59.600 --> 00:05:02.519
oh god, uh, it's not
that bad bringing that excitement to people
68
00:05:02.560 --> 00:05:09.639
and rather within them being scared or
even just hiding from their numbers and the
69
00:05:09.720 --> 00:05:13.759
reality of it, to help them
embrace what they thought was a closed door
70
00:05:13.839 --> 00:05:16.560
is an open door, and that
there's multiple open doors, and just to
71
00:05:16.560 --> 00:05:21.480
be able to pursue whatever it is
they feel that they truly want from now.
72
00:05:21.800 --> 00:05:26.759
So we asked, Dalen, if
you're still working, is it really
73
00:05:26.800 --> 00:05:31.480
retirement. So I have become an
entrepreneur after retirement and my husband he actually
74
00:05:31.560 --> 00:05:36.519
goes to part time work. You
can still be retired and still working in
75
00:05:36.560 --> 00:05:41.879
a certain form, and just realizing
that can be an option and that can
76
00:05:41.879 --> 00:05:45.800
be part of your retirement plan as
well. Look at savings and paying off
77
00:05:45.839 --> 00:05:48.759
debt, because the closer you are
to retirement, if you can get rid
78
00:05:48.800 --> 00:05:53.279
of as much debt as possible,
that's less income you're going to have to
79
00:05:53.279 --> 00:05:58.720
come in from your savings. Also
knowing that even if you are doing an
80
00:05:58.720 --> 00:06:03.279
equivalency of your payoff and your saving. The day you are able to retire,
81
00:06:03.319 --> 00:06:06.959
that savings will still grow. You're
not going to take the entire lung
82
00:06:08.040 --> 00:06:11.360
sum with you. It's still going
to have a portion to grow, but
83
00:06:11.480 --> 00:06:15.639
you can let it continue to do
its things. So really, I would
84
00:06:15.680 --> 00:06:18.079
just focus on maybe managing the debt
if you've got a lot, and if
85
00:06:18.120 --> 00:06:24.480
not, then just save what you
can and start building your lifestyle that will
86
00:06:24.519 --> 00:06:29.680
be similar to retirement. That's financial
coach Dalene Higgins. We've got links to
87
00:06:29.720 --> 00:06:32.560
her work in our show notes and
on our website at Search and Replace Dot
88
00:06:32.600 --> 00:06:36.360
Show. Also in our show notes
for this episode, Rachel Hartman's got a
89
00:06:36.360 --> 00:06:41.920
list of ten costs you should including
your retirement plan. Most of them might
90
00:06:42.079 --> 00:06:46.800
sound obvious, but don't forget unexpected
home modifications and a surprise battle or two
91
00:06:46.959 --> 00:06:54.160
with inflation. Plus Jenna from the
blog tidy Mollism has an overview of intentional
92
00:06:54.279 --> 00:06:59.360
spending. That's the art of getting
more mindful about your money without denying yourself
93
00:06:59.399 --> 00:07:02.319
the fun stuff and let all that
and more over on our website at Search
94
00:07:02.360 --> 00:07:09.920
and Replace Dot Show. This has
been a podcast taxi radio production support for
95
00:07:10.040 --> 00:07:15.279
Search and replace is provided by Johnson
Taylor user experience specialists serving media and technology
96
00:07:15.319 --> 00:07:20.959
companies that want their websites to work. Learn more about how top performing businesses
97
00:07:21.199 --> 00:07:29.000
eliminate barriers between customers and their goals
at www. Dot Make the website work
98
00:07:29.040 --> 00:07:30.800
for me dot com
1
00:00:00.160 --> 00:00:06.000
Support for the following podcast is provided
by the user experience specialists at Johnson Taylor.
2
00:00:06.360 --> 00:00:12.160
More information follows this episode. What
if you no longer had to worry
3
00:00:12.160 --> 00:00:15.400
about the money you need to retire, You just have to think about what
4
00:00:15.439 --> 00:00:19.359
you're going to do with your time. I'm Joe Taylor Junior. This is
5
00:00:19.480 --> 00:00:26.960
Search and Replace. Dayleen Higgins likes
to plan ahead. I worked in the
6
00:00:27.000 --> 00:00:30.359
government sector, changed agencies, and
I was like, okay, I did
7
00:00:30.440 --> 00:00:34.200
seventeen years. There I can do. And the light bulb went off.
8
00:00:34.320 --> 00:00:39.399
I only had to do thirteen more
years to be able to access my pension,
9
00:00:40.840 --> 00:00:46.280
and I realized, if I wanted
to retire in that quote thirteen years,
10
00:00:46.520 --> 00:00:50.359
I had to be prepared. So
I'm the kind of person who's not
11
00:00:50.439 --> 00:00:54.719
sure what I'm going to be doing
in thirteen weeks, let alone thirteen years.
12
00:00:54.759 --> 00:00:58.359
Maybe you were the same way,
But Dayleen's got the kind of brain
13
00:00:58.479 --> 00:01:02.880
that's optimized to think about out long
term planning. And the folks over at
14
00:01:02.880 --> 00:01:08.599
Motley Fool reviewed some consumer surveys among
Americans, who are already notorious for not
15
00:01:10.079 --> 00:01:15.280
saving very much money very well.
Most studies and surveys show that most of
16
00:01:15.400 --> 00:01:19.200
us don't get serious about saving for
retirement until we're in our thirties and forties.
17
00:01:19.760 --> 00:01:23.400
So when did Dayleen get this burst
of inspiration. I was about thirty
18
00:01:23.439 --> 00:01:27.840
five. That was my AHA moment. I better get my button gear if
19
00:01:27.920 --> 00:01:33.439
I wanted to retire that early.
So I really got focused on budgeting.
20
00:01:33.599 --> 00:01:38.239
And I know everybody hates spend budgeting, but it was the driving force of
21
00:01:38.280 --> 00:01:44.120
my entire fifteen year journey. I
really started focusing and really getting into the
22
00:01:44.159 --> 00:01:48.079
meat and bones of all my numbers, so making sure we're spending correctly,
23
00:01:48.159 --> 00:01:52.319
that we're saving in all of the
accounts we need to and to support us
24
00:01:52.519 --> 00:01:57.519
also supporting what we were doing in
the moment, so enjoying life. We
25
00:01:57.519 --> 00:02:00.200
were both working full time, We
had our daughter things she wanted to do.
26
00:02:00.560 --> 00:02:05.159
I just got really focused on different
areas, how can I be better?
27
00:02:05.400 --> 00:02:07.680
Like on my groceries. I'm always
been a mail planner, but you
28
00:02:07.680 --> 00:02:10.800
know, was there anything more I
could learn? Anything more I could do
29
00:02:10.919 --> 00:02:15.479
and explore all of the different things, and it might have given me,
30
00:02:15.919 --> 00:02:19.120
you know, five dollars ten dollars
a month or a pay check, but
31
00:02:19.240 --> 00:02:23.680
that slowly added up as I continued
the journey, I think the hardest thing
32
00:02:23.080 --> 00:02:29.479
was us really pausing on a lot
of our expenses. It was really do
33
00:02:29.520 --> 00:02:32.240
we need it or can we pause
for another month? So that was probably
34
00:02:32.240 --> 00:02:38.919
the bumpiest where we were second guessing
some of those expenses that were never second
35
00:02:38.000 --> 00:02:42.879
guests before, you know, going
that extra layer deep. And for Daileen
36
00:02:42.919 --> 00:02:46.840
and her family, a lot of
that second layer involved the ways they spent
37
00:02:46.000 --> 00:02:50.120
their leisure time. Even though I
know a lot of people are like you
38
00:02:50.159 --> 00:02:53.639
probably did absolutely nothing, and I
like to share with them like we did
39
00:02:53.759 --> 00:02:55.639
as a family. We had this
piece of property, we enjoyed it.
40
00:02:55.759 --> 00:03:00.879
We had vehicles, we had a
camp trailer. As my daughter got busier,
41
00:03:00.000 --> 00:03:04.840
we sold the camp trailer, sold
the motorcycles. So with the selling
42
00:03:04.919 --> 00:03:07.840
of that we were able to put
quite a bit down on our home.
43
00:03:07.960 --> 00:03:14.240
So as we're approaching this this timeline, like our home was paid off,
44
00:03:14.400 --> 00:03:20.439
so that also helped being able to
come into retirement without a mortgage. Now
45
00:03:20.439 --> 00:03:23.520
we do have an investment property that
my daughter lives in up for school,
46
00:03:23.759 --> 00:03:27.919
and so we do have still a
little bit, but we were able to
47
00:03:28.639 --> 00:03:32.120
get everything paid off, really just
stay the course, build up her emergency
48
00:03:32.159 --> 00:03:36.599
funds, be able to support.
I was like, Okay, this is
49
00:03:36.719 --> 00:03:42.680
real. So Dalen perfectly executed her
plan, which meant she could officially retire
50
00:03:42.919 --> 00:03:47.319
from her government job at her target
age. And then what what do you
51
00:03:47.400 --> 00:03:53.120
do with your time when most folks
in your age group are still grinding away?
52
00:03:53.439 --> 00:03:55.919
As I was retiring, I thought, well, I'm still too young
53
00:03:57.039 --> 00:04:00.719
to just you know, sit around
do nothing. So I was trying to
54
00:04:00.759 --> 00:04:04.000
find something to fell part of my
day, and I came across financial coaching
55
00:04:04.039 --> 00:04:10.599
and I'm like, oh my,
heck, I could help others using this
56
00:04:10.800 --> 00:04:15.719
momentum I have and this excitement to
be able to help fuel them and understanding
57
00:04:15.879 --> 00:04:18.079
of all the little steps that took
me to get there, as well as
58
00:04:18.720 --> 00:04:23.040
figuring out what life on the other
side looks like. Because I think a
59
00:04:23.079 --> 00:04:27.279
lot of people only worry about the
money, but yet they don't realize that
60
00:04:27.360 --> 00:04:30.839
the lifestyle and impairing those two together
is so important. You know. It's
61
00:04:30.920 --> 00:04:36.240
really just that scarce mentality and just
thinking about, well, how can you
62
00:04:36.319 --> 00:04:42.839
be more abundant, how can you
take those steps to help yourself enjoy the
63
00:04:42.959 --> 00:04:47.439
quality of life you want without worrying
so much about money. I found it.
64
00:04:47.439 --> 00:04:51.399
It just connected. It I love
working with numbers. I love helping
65
00:04:51.519 --> 00:04:55.480
bring those numbers to the people and
let them believe in what they see.
66
00:04:55.560 --> 00:04:59.560
And most clients of mine that I
work with then after one session they're like,
67
00:04:59.600 --> 00:05:02.519
oh god, uh, it's not
that bad bringing that excitement to people
68
00:05:02.560 --> 00:05:09.639
and rather within them being scared or
even just hiding from their numbers and the
69
00:05:09.720 --> 00:05:13.759
reality of it, to help them
embrace what they thought was a closed door
70
00:05:13.839 --> 00:05:16.560
is an open door, and that
there's multiple open doors, and just to
71
00:05:16.560 --> 00:05:21.480
be able to pursue whatever it is
they feel that they truly want from now.
72
00:05:21.800 --> 00:05:26.759
So we asked, Dalen, if
you're still working, is it really
73
00:05:26.800 --> 00:05:31.480
retirement. So I have become an
entrepreneur after retirement and my husband he actually
74
00:05:31.560 --> 00:05:36.519
goes to part time work. You
can still be retired and still working in
75
00:05:36.560 --> 00:05:41.879
a certain form, and just realizing
that can be an option and that can
76
00:05:41.879 --> 00:05:45.800
be part of your retirement plan as
well. Look at savings and paying off
77
00:05:45.839 --> 00:05:48.759
debt, because the closer you are
to retirement, if you can get rid
78
00:05:48.800 --> 00:05:53.279
of as much debt as possible,
that's less income you're going to have to
79
00:05:53.279 --> 00:05:58.720
come in from your savings. Also
knowing that even if you are doing an
80
00:05:58.720 --> 00:06:03.279
equivalency of your payoff and your saving. The day you are able to retire,
81
00:06:03.319 --> 00:06:06.959
that savings will still grow. You're
not going to take the entire lung
82
00:06:08.040 --> 00:06:11.360
sum with you. It's still going
to have a portion to grow, but
83
00:06:11.480 --> 00:06:15.639
you can let it continue to do
its things. So really, I would
84
00:06:15.680 --> 00:06:18.079
just focus on maybe managing the debt
if you've got a lot, and if
85
00:06:18.120 --> 00:06:24.480
not, then just save what you
can and start building your lifestyle that will
86
00:06:24.519 --> 00:06:29.680
be similar to retirement. That's financial
coach Dalene Higgins. We've got links to
87
00:06:29.720 --> 00:06:32.560
her work in our show notes and
on our website at Search and Replace Dot
88
00:06:32.600 --> 00:06:36.360
Show. Also in our show notes
for this episode, Rachel Hartman's got a
89
00:06:36.360 --> 00:06:41.920
list of ten costs you should including
your retirement plan. Most of them might
90
00:06:42.079 --> 00:06:46.800
sound obvious, but don't forget unexpected
home modifications and a surprise battle or two
91
00:06:46.959 --> 00:06:54.160
with inflation. Plus Jenna from the
blog tidy Mollism has an overview of intentional
92
00:06:54.279 --> 00:06:59.360
spending. That's the art of getting
more mindful about your money without denying yourself
93
00:06:59.399 --> 00:07:02.319
the fun stuff and let all that
and more over on our website at Search
94
00:07:02.360 --> 00:07:09.920
and Replace Dot Show. This has
been a podcast taxi radio production support for
95
00:07:10.040 --> 00:07:15.279
Search and replace is provided by Johnson
Taylor user experience specialists serving media and technology
96
00:07:15.319 --> 00:07:20.959
companies that want their websites to work. Learn more about how top performing businesses
97
00:07:21.199 --> 00:07:29.000
eliminate barriers between customers and their goals
at www. Dot Make the website work
98
00:07:29.040 --> 00:07:30.800
for me dot com
