135 : Retiring early at 41 with Maggie Tucker
Podcast Show Notes In this episode: Early Retirement, FIRE, Financial Independence, Mindfulness, with Guest Maggie Tucker
Episode Summary: In this episode, Adam Coelho interviews Maggie Tucker, who retired early at the age of 41. They discuss Maggie's journey to financial independence and the steps she took to achieve early retirement. The episode is divided into two parts, with this episode focusing on Maggie's experience eight months after retiring.
Guest Bio: Maggie Tucker is a retired corporate professional and a mother of three. After spending 20 years in corporate America, she decided to pursue early retirement and financial independence. Maggie is also the host of the Inside Out Money podcast, where she shares insights on financial independence and personal finance topics.
Resources & Books Mentioned:
• The Simple Path to Wealth by J.L. Collins
Guest Contract Information:
Key Takeaways:
- Maggie and her husband achieved early retirement by avoiding lifestyle inflation and spending less than they earned.
- Maggie's journey to early retirement was a slow build, with several years of aggressive saving and investing.
- Maggie emphasizes the importance of tracking expenses and net worth to stay on top of financial goals.
- They maximized their participation in deferred compensation plans and maximized their contributions to 401k accounts.
- Maggie highlights the benefits of open and honest conversations about money, which helped her and her husband make better financial decision.
- The decision to retire early required careful planning and overcoming fears associated with leaving a stable job.
Text Adam w/ comments or questions
Whenever you are ready, here are 2 ways I can help you:
1. Download my free One-Page Envisioning Exercise to think BIGGER about your life and what's possible for you.
2. If you're at or nearing FI, but feel stuck and unable to move forward to your next chapter, let's chat.
My 8-week small group coaching program started May 17th.
The first group is SOLD OUT but you can JOIN THE WAITLIST.
By the end of the 8 week small group program, you will:
- Have a clear and exciting vision for the next chapter of your life
- Be able to point to specific and tangible ways you’re already living that vision
If you’re ready to finally start living the next chapter of your life, let's chat.
Book a no-pressure curiosity call
00:00 - Retiring early at 41 with Maggie Tucker on The Mindful FIRE Podcast (Ep 135)
02:11 - Episode Intro - Two Part Episode
03:46 - Start Interview 1:3
04:49 - how you set your life up so that you were able to actually reach that goal (Retire Early) 9:38
14:01 - Deferred compensation 4:47
18:49 - how mindfulness played a role in your journey to fire. 4:39
23:25 - Discussing Mindlfulness with people with limiting belief 2:48
26:05 - the importance of financial resilience 4:16
30:19 - how did you determine what is enough and actually make the decision to go and actually retire early with your husband 7:30
37:40 - "if the money faucet is flowing, grab a bucket", (but know when to drop the bucket) 5:45
43:15 - how did you spend your first day of retirement? 2:20
45:35 - is early retirement what you thought it would be? And what are the pros and cons now that you're on the other side of it? 6:11
51:40 - how do you start maybe untangling that or making plans to avoid it in the future? 7:59
59:40 - when I'm saying yes to someone else, I'm saying no to my kids. 3:43
01:03:23 - how do you spend your seven Saturdays a week? 7:36
01:11:00 - Mindful FIRE Final four
01:11:07 - what's an example of something that you envisioned for your life that you made happen? 1:13
01:12:21 - what piece of advice would you give to someone early on their path to financial independence? 2:44
01:15:06 - what piece of advice would you give to someone getting started with meditation and or mindfulness? 1:31
01:16:37 - how can people connect with you online 2:4
01:17:38 - Closing
Listen On
