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Coast Fire with Kids: Balancing Financial Independence and Family Life

In this episode of The Retire Early Retire Now podcast, Hunter Kelly, a certified financial planner and founder of Palm Valley Wealth Management, delves into the concept of Coast FIRE, specifically addressing the challenges and strategies for parents. Kelly emphasizes that while traditional FIRE advocates for aggressive saving and minimalist living to retire early, Coast FIRE offers a balanced approach. This allows parents to achieve financial growth without sacrificing their current lifestyle and family needs. Kelly discusses the importance of flexibility, recognizing different life seasons, and understanding trade-offs in financial planning. He offers practical advice for parents on how to manage their finances responsibly, ensuring that their money works to support a meaningful, fulfilling life. Kelly also invites listeners to reach out for personalized financial planning services through his firm.

00:00 Welcome to The Retire Early Retire Now Podcast
00:25 Introduction to Coast Fire with Kids
00:50 Challenges of Coast Fire for Parents
02:43 Defining Coast Fire for Parents
04:29 Financial Realities of Parenting
06:02 Avoiding Common Mistakes
12:46 The Emotional Side of Coast Fire
14:34 Evaluating Your Coast Fire Plan
16:23 Conclusion and Next Steps

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PalmValleywm.com

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Mastering Financial Clarity with The Three Bucket System (Plus One!)

In this episode of The Retire Early Retire Now podcast, host Hunter Kelly, a certified financial planner and founder of Palm Valley Wealth Management, discusses the importance of having a clear financial purpose and introduces a framework called the 'Three Bucket System' with an additional bonus 'Legacy Bucket.' Hunter explains how to categorize your money into spending, flexibility, and freedom (retirement) buckets, and adds a fourth bucket for legacy. The episode covers the roles and purposes of each bucket, common mistakes high-income earners make, and how to balance and fund these buckets to achieve financial clarity, confidence, and calm. Listeners are encouraged to focus on the purpose of their money rather than just the tax treatment of their accounts. Hunter also provides a self-assessment exercise to help listeners evaluate their current bucket allocations. The episode emphasizes the importance of aligning financial decisions with personal goals and values.

00:00 Welcome to The Retire Early Retire Now Podcast
00:33 Understanding Financial Stress and Purpose
01:55 Introducing the Three Bucket System
05:09 Bucket One: Spending and Cash Flow
07:47 Bucket Two: Flexibility and Options
10:32 Bucket Three: Long-Term Freedom
12:42 Bonus Bucket: Legacy Planning
14:50 Integrating the Buckets for Financial Balance
17:16 Self-Assessment and Final Thoughts
19:56 Conclusion and Call to Action

Check out the Palm Valley Wealth Management Website
PalmValleywm.com

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Understanding 'Enough': Redefining Financial Confidence and Goals

In this episode of The Retire Early Retire Now podcast, host Hunter Kelly, a certified financial planner, delves into the complex concept of 'enough' in personal finance. He discusses why defining 'enough' is crucial yet challenging for high-income earners and offers a framework for determining when saving more ceases to add value. Hunter explores the subjective nature of 'enough,' the shifting goalposts in financial planning, and the importance of structure, flexibility, and understanding in achieving financial confidence. He also addresses the trade-offs of continuous saving and encourages listeners to reframe their approach to financial goals by focusing on how to better deploy resources once foundational savings goals are met. The episode emphasizes that once you reach a financial position where saving more is optional, the focus should shift to enhancing life quality and achieving a balance between present enjoyment and future security.

00:00 Welcome to The Retire Early Retire Now Podcast
00:16 The Deceptive Question: Am I Saving Enough?
01:32 Defining 'Enough' in Personal Finance
02:37 The High Income Earner's Dilemma
04:05 The Pitfalls of Chasing a Magic Number
06:52 The Importance of Financial Flexibility
10:03 Testing Your Financial Plan's Resilience
14:24 Understanding Financial Trade-offs
16:54 Shifting Focus: From Saving More to Deploying Resources
19:51 Conclusion and Final Thoughts

Check out the Palm Valley Wealth Management Website
PalmValleywm.com

Check us out on
Instagram
LinkedIn
Facebook
Listen to the Podcast Here!
Apple
Spotify