Name: The secret to Financial Independence ("How I retired early")
Uploaded: 2020-03-27T18:21:05.000Z
Duration: 13 min 41 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Hey, Tech Lead here and welcome back to my show. It is coffee time. Instant coffee today. Very good.

Past simple

I wanted to tell you something. I wanted to share a little bit of news with you today. I am financially

Modal verbs - A2

Independent. That's right. I'm retired. I can essentially sustain myself

Indefinitely within this sort of living environment. I have everything that I need here

I can live like this for as long as I want. I have water. I have coffee here. I have shelter and

I have cut down my living expenses so much that essentially this is my lifestyle now. I just live here. I don't do anything.

I don't partake in any activities. I don't travel. I've gotten rid of my family. I've gotten rid of my

Responsibilities of my family. I haven't gotten rid of my family

They're still there, but I'm just not taking responsibility for them anymore. And with this sort of revolutionary mindset

I have freed myself from the rat race. I am free from the 9 - 5.

I don't have to work, if I don't want to. I can just be here and relax chill.

Materialism and stay a minimalist. Then this is all I will ever need and I can just live like this

Indefinitely. I am financially independent. I am retired you could say. I've made it

This video, by the way, is sponsored by myself. That's right.

As a financially independent person, I am self-supporting check out my video, Tech Lead season 1 HD complete.

1995 tons of cool episodes tons of cool features lots of good content in there and I can guarantee you that it will save you

Much more than 1995 worth of your money. Great value. You're gonna make so much out of it

You're gonna be able to live a financially independent lifestyle just like myself

I'm telling you this lifestyle that I've got right here right now

That's right for 1995 you too can be successful just like me and you can have the exact same lifestyle that I'm living right now

This is success and it can be yours. There'll be a link for you in the description

So I wanted to talk to you today a little bit more about financial independence and what I've learned about it

Having lived through it. And the first thing to realize is that actually all of us are in the way fine

Independent already. Financial independence is essentially when you're able to sustain yourself sustain the lifestyle

Indefinitely, you don't have to work. You don't have to work the nine-to-five or the rat race

You can just relax chill read a book play some computer games, whatever you want sit on the beach and the fact

Is that everybody has had this at some point in your life.

It was when you were a kid. All children in the sense are financially independent. They don't have to worry about money

They don't have to worry about working or a job or any of that

for at least say eighteen years while they're being raised by their parents their parents are providing everything for them and as a child you

Were financially independent until you got so sick of it and you wanted something more for yourself

You wanted to see what more you could do with your life. You wanted to move out

You wanted your own living conditions you wanted to win the respect of people you wanted to attract a partner for your life

You wanted a career you want it to be successful you wanted to see what you could make of yourself

and so it's funny that for many people they've sort of come full circle and they want to go back to being

Financially independent once more and find ways to downgrade their lifestyle. Well, I've got news for you

It's very easy to be financially independent. Just go move back in with your parents

expenses. Food doesn't really cost all that much and if you were to cut down on your activities and remove all of your

Vacations, you can essentially live with very little basic income. You would essentially be financially independent

In fact, if you don't really want to move in with your parents

The other thing you could do is just go live on the streets. That's right

You could be homeless you could go live on the beaches of Santa Monica. You can sleep in all day

you don't have to work and that's financial independence too.

Even my dog is financially independent financial independence at first sounds really good

It sounds like a very creative revolutionary idea where you essentially just can sustain yourself indefinitely

This is if you have say a million bucks and could make four percent off of that on the interest

stock investment returns every year. That's like a 40k income and you could just keep that going for as long as you want and you

Never run out as long as you don't spend above say 40k a year. Now, inflation may eat away at that.

So in reality, you may need more than that. A while ago when I had come into some sum of money

Well, I could just retire on this, you know

If I choose to just lower my living expenses, lower my expectations,

I could probably live forever on this amount of money and I thought, "Well, where would I live?"

I wouldn't live in Silicon Valley, because it's just way too expensive.

Maybe I could go to Nevada or something like that. And then thought about, "Do I really want to go live in the deserts of

No offense to the people who actually live there

I'm sure you're having a great time there being financially independent and all. But I thought,

I could just go to Southeast Asia to where expenses are even lower and I could have an even better life

I could live like a king over there. I'm sure that there are many backpackers and Instagram influencers

Who have chosen a life over there and say Bangkok, Thailand or Bali in Indonesia

I'm going to take a look at this picture of this fishing village that I saw and when I first saw it

Amazing! Like, what a great life living a carefree life in this smaller though unknown fishing village

I mean that really sounds great. It's all I could ever want really, you know, I don't need money if I can have that

Given that choice would I just go out there go

find a small little village to live in sipping coconuts and sitting on the beach all day and

Really you just go to somewhere cheap somewhere in Southeast Asia or somewhere?

You can get that lifestyle. Funny thing is a lot of people choose to not go after that and I think that's where financial independence

Imagine that you could get a million bucks and you were making four percent off of that

You have a 40K annual income and that all sounds good until you realize that

There's still a lot that you don't get with that

Your health insurance is one thing to think about like if you have to provide health insurance for your spouse

Two to three kids plus yourself. That's like four to five people already right there and you need to pay for each person individually.

A career, a job will get you that automatically. Otherwise,

You're gonna have to pay for yourself and it's not even going to be very good

there's gonna be pretty weak insurance and people are gonna be afraid to go to the hospital and everyone's going to be wondering

Yeah, maybe I should just sit this one out. Maybe I just shouldn't skip the hospital on this one

It's gonna be expensive. It would be great

If people can just go get themselves taken care of if they need to. You might also be missing out on career path

Which I think a lot of people think about. You know, it's not so big of a deal now

But over the long run you might find that as you get older as you get into your thirties, forties, fifties.

You find your classmates your peers they keep rising in status and level and you know

some of these people are getting into like director positions, vice-president positions, their salaries going up. And meanwhile,

You don't have that career path. You're just sitting on the beach, maybe with your financial independence.

You've got some amount of income that's coming in