036: Are You Set Up for the Days Where You No Longer Work for Money?


Erik talks about what it takes to cover expenses for the days we no longer work for money over a 20 year period. He breaks down the numbers for basic expenses. 


  • Are we or our parents set up financially to cover expenses that we will have in a 20 year retirement.   
  • Depending where someone lives, the expenses could be more for their rent and/or mortgage.     
  • Looking at the numbers $1,000,000 seems like a good amount of money but a 20 year retirement requires more than that.  
  • As a result many people are more fearful of running out of money compared to dying.          


  • “…Want to set up our own pensions, and if we want to do that, we have to look at a lot of factors…” –Erik Smith 

  • Some people spend $912 in a meal” –Erik Smith
  • “$980/month for healthcare this does not even include Long Term Care.” –Erik Smith


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