A Discussion w/ Carl Richards | The One-Page Financial Plan

Special guest and author of The One-Page Financial Plan, Carl Richards joins the show to give expert advice on how to jump start your financial plan. Richards explains how to create your own one-page plan and even shares what is included in his personal plan. Joe and Al spend the rest of the podcast discussing an article from The Street which features six stories of people who retired before age 60.

4:23 “[Creating a plan] is simple but it’s not easy”

11:05 Start of Interview with Carl Richards

12:52 “It’s not about the plan, it’s about the process, this ongoing process of planning”

12:58 “In calling it the one-page plan, the goal was to give people the permission to relax a little bit and realize that it’s not a monument carved in stone; it’s one page plan, it’s going to change, you’re going to update it and when you do, you’re going to pull out another piece of paper and do it again”

14:02 “It’s not that those really detailed plans aren’t important—they are, and in order to have a one-page plan you might have to go through that experience”

14:18 “Get what’s really important, sort of top-of-mind out of that plan, and put it on to one page and have that serve as sort of an ongoing touchstone if you will, a reminder of what’s in that 2-inch thick book”

17:12 “When you have these detailed financial plans, there’s so much detail that you kind of forget what’s in it, but if you boil it down to the most important things and have it out so you can see it from time to time, you’re probably more likely to stay on track”

30:07 “We are now trying to make our courses online so stay tuned for that”

37:20 “There are all types of ways to create your retirement, but for many of us it’s all about coming up with a plan, and part of that plan is figuring out your taxes in retirement because when your paycheck stops, your taxes do not stop”

To read “’How I Retired Early’: 6 Folks Share Their Unique Journeys and Secrets to Success,” click here