Barrett's 2 Cents

I am a CERTIFIED FINANCIAL PLANNER™ professional. I write personal financial advice for baby boomers without kids. Some people say I help simplify their finances. Other people say I help them enjoy more life experiences. Read on and decide for yourself.

Author: Barrett Porter (page 1 of 11)

Lessons from Bowie and Rickman

moneyAlan Rickman and David Bowie had a few things in common (in addition to being likable and talented British entertainers). They achieved a state of financial independence well before “retirement” age, worked because they wanted to and died way too soon.

For a year, I’ve been writing about ways in which baby boomers could shift things in their lives to achieve a state of financial freedom by age 60. But what would you do differently if you knew your life might end at 70? If you’re feeling a bit less invincible right now, here is a recap of my favorite ideas from the past year.

Continue reading

Done by 60: Stop Saving for Retirement

retirementA therapist friend of mine in his 60s no longer needs to earn an income, but he still works part time and charges a high hourly rate. I asked him why he charges a high rate if he doesn’t need the money. “The income is validating. If they are paying my fee, then I know I’m providing real value,” he said.

My clients often tell me they want to be financially free by around 60, but not necessarily retired. They want to reduce hours, try something new, have a job with less stress or just take a break to think about the next chapter. So, is it high time that we retired the word “retirement”?

Continue reading

Overstuffed and Under-experienced

clutterExperiences make people much happier than material items because we become bored with our purchases rather quickly, while the memories of experiences are ingrained forever. Never have I felt this more than when I recently came across some autographed framed photos and baseballs hidden away in my closet. I probably enjoyed them for a week or two about 20 years ago. It got me thinking hard about the things I buy and the stuff I hold on to for too long. Beyond the happiness factor, are there any other benefits that might come from downsizing our stuff?

Continue reading

Done by 60: Living Abroad—a Look at Life as an Expat

relaxI often wonder what I would do if my worst financial doomsday scenario happened. Maybe some unforeseen event ends my career prematurely. Maybe my mom needs thousands of dollars for long-term care. My current fantasy solution is to become a Central American expat living for about 50 cents on the dollar in a small modern house with minimal stuff, a great view and fun part-time work in adventure tourism.

Whether it’s a doomsday scenario, a desire to stretch the dollar in the retirement years or the urge to have financial freedom sooner in life, the expat route is becoming more attractive and realistic to Americans as other nations become more developed.

Continue reading

Done by 60: Case in Point

retiredFor the past year, I’ve shared ideas about how you can achieve a state of financial independence (the point where you work because you want to, not in order to maintain your lifestyle) by age 60. As an advisor, it brings me great joy when a couple delivers a highlights reel of how, on their own, they are actually making this happen.

Continue reading

Older posts

© 2016 Barrett's 2 Cents

Theme by Anders NorenUp ↑