Strategy for Financial Independence Retire Early | Achieving F.I.R.E. Part 2
What was our strategy to reach Financial Independence and Retire Early (F.I.R.E) in our 40's? We have been asked this question many times and in Part 1 we shared how the idea of early retirement came about, the preparation to reach financial independence, our retirement plan and the tools and strategies that helped us get here. We also explain why we decided to pull the plug and move outside the USA. In Part 2 we're discussing our countdown to F.I.R.E., moving and living abroad, our monthly expenses in Mexico and Portugal compared to the USA, dreaded tax considerations, our regrets since retiring 5 years ago and much more! We also discuss our withdrawal plan considering a bull market and bear market and what the future holds for the 4 of us. 👇TRUSTED PARTNERS IN THE USA 🇺🇲 ►TAXES FOR EXPATS - Top rated US tax firm on the independent review site Trustpilot (Receive a $25 credit toward your first tax return preparation service with our link): https://www.taxesforexpats.com/ref/275 For Collaborations please send an email to [email protected] Follow us at: Instagram: / seekingparadisebugs Facebook: / seekingparadisebugs CHAPTER LIST 00:00 Intro 00:10 Part 1 Recap 01:51 Our Timeline to F.I.R.E. 04:19 Mindset towards F.I.R.E. 05:27 F.I.R.E. Day 05:51 Income Streams 06:53 Rental Property Management 07:53 U.S. and Foreign Taxes 10:38 Living Abroad - Guadalajara, Mexico 11:35 Our Mexico Monthly Expenses 13:16 Withdrawal Strategy During a Bull Market 14:31 Go-go Years, Slow-Go Years, No-Go Years 15:09 New Retirement Retirement Tool 15:23 Projected Life Expectancy Age 15:44 Retirement During a Pandemic 17:49 Living Abroad - Lisbon Portugal 18:56 Our Portugal Monthly Expenses 19:50 Exchange Rates 20:56 Surviving a Bear Market 21:31 F.I.R.E. Mindset After 5 Years 23:12 Our Finances After 5 Years 23:51 Our Regrets 24:50 Our Future and F.I.R.E. Tips 👇RESOURCES WE USE TRAVELING & LIVING ABROAD - 🌍 ► EXPRESSVPN - Virtual Private Network (3 extra months free with 12-month plan using our affiliate link): https://go.expressvpn.com/c/4257233/1... ► WISE - Easy and cheap International money transfers: https://wise.prf.hn/l/NJPoJ9N ► TRAVELING MAILBOX - View your postal mail online anywhere: https://travelingmailbox.com/?ref=1426 ► HOME EXCHANGE - The#1 home exchange community in the world (Travel for less): https://www.homeexchange.com/?ae=633 ► DISCOVERCARS - (Support us by using our affiliate link): https://discovercars.tp.st/dNr0TNeN ► BORDR - Easiest way to get your Portuguese NIF and/or Bank Account (Get $10 off for each with our affiliate link): https://www.bordr.com/?via=seekingpar... 👇MILEAGE REWARD TRAVEL ESSENTIALS WE USE - ✈️ ► CHASE SAPPHIRE PREFERRED - Our favorite rewards credit card: https://www.referyourchasecard.com/19... ► TRAVELFREELY - Free app to manage travel reward credit cards (Learn how travel for free): bit.ly/3Z2OvdV 👇RETIREMENT & FINANCIAL PLANNING TOOLS WE USE - 📊 ► EMPOWER (formerly Personal Capital) - Money manager, networth calculator & retirement planner: https://fxo.co/1353861/SeekingParadis... ► NEW RETIREMENT - It is like an advisor at your fingertips…run any what-if scenario: https://bit.ly/3Rta8Tq 👇 OUR VIDEO PRODUCTION TOOLS - 📽️ ► EPIDEMICSOUND - Copyright Free Music: https://www.epidemicsound.com/referra... ►Song:Erik Lund - Tokyo Sunset (VlogNoCopyrightMusic) Music Promoted by Vlog No Copyright Music 👇ALL OUR AFFILIATES AND FAVORITES IN ONE PLACE - https://tr.ee/H7bGeQ99gA *DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. Thanks for supporting us! 🤗 *Also, sometimes we discuss financial topics. We are not financial professionals, please consult a licensed advisor for financial advice.
