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HMM 125: What You Should Not Leave Out In Your Retirement Planning With Todd Tresidder

HMM 125: What You Should Not Leave Out In Your Retirement Planning With Todd Tresidder

 

“Make everything as simple as possible but no simpler”—Albert Einstein

The Financial Mentor, Todd Tresidder implements this philosophy when educating his clients on retirement planning.

In this episode, you will learn…

  • Why he believes in making money as simple as you can but no simpler
  • The two key observations he made during his life that shaped how he wanted his life to look like
  • What led him to work for the experience not for the money early on in his life
  • The 3 financial models you should consider when planning retirement

Todd’s Money Story

Todd had a solid middle-class upbringing.  Money was never a big issue for him – there wasn’t enough money in his viewpoint, but they always had what was necessary.  He does recall really struggling through college. At one point he had only $100 to last through an entire quarter (made it work). Todd went to UCLA, the bicycle capital of the world, and he couldn’t afford a bicycle.

He made several observations of others graduating:

  • Nice cars weren’t cool especially when you have to work so hard to get it.  Being a broke student was cooler (bums had their day to create vs being a slave in cubicle nation).
  • Life is about experiences, not stuff, and he wanted to own his time and freedom so committed to it.

 

He engineered his life to creating financial freedom, and it took him 12 years.  He started off by going to the library to read up on how to build wealth and investments, and biographies of wealthy people.  He concluded that if you wanted to become financially independent, you had to become an expert.

When he graduated from college, with an economics degree, he was interviewing with investment firms out of LA.  He had a great resume, and the jobs were good and high paying, but them as becoming part of the cubicle nation, something that wasn’t appealing to him at all.  

Instead, he took a position in sales with a start-up hedge fund with one other guy.  He was taking a draw from the sales that he made as a salary, and felt that he was working for experience, not for the money.

Todd spent 12 years doing research on wealth management systems, risk systems, market timing systems and tested most of what was out there.  This was in the early days of computers when there were no databases to model investment systems with – Todd had to create his own.  He was modeling computerized trading systems and risk management systems.  And during this time, his knowledge skyrocketed – he was in fact, getting paid to learn.  Eventually, he developed stuff that worked, became a partner, and attained a mid-six-figure income within 6 years.  

When considering retirement, Todd shared three Financial Based Models to Consider:

  1. Cash flow base model
  2. Asset-based model
  3. Lifestyle-based model

It is the combination of the three models that give you a really strong understanding of the various dimensions of retirement planning, that you can manipulate and work with to achieve your retirement goals.

Todd has a calculator on his website that is private, that helps people work out scenarios based on assumptions.  While it is very popular, he cautions that retirement calculations are as good as the assumptions that are made, and assumptions are hard to make.  Even being 1% off can change everything drastically.

Best money advice Todd ever received:

Make more money than you spend and invest the difference wisely

Her Money Matters Because:

“Her money matters because it’s integral to a fulfilling life.  If you don’t master your money, it hurts you and limits your ability to live a full life experience. Master it and you gain confidence. Her money matters because it’s just one stage on which you play out life but that stage happens to affect every other stage.”

 

RESOURCES AND LINKS TO MENTION:

Learn more about Todd at FinancialMentor.com

Todd’s Retirement Calculator

How Much Money Do I Need To Retire book written by Todd**

**Please note the link is an  affiliate link so I may receive a small commission if you purchase**

Todd’s Step 3 Course

f you are ready to dive into 1:1 coaching use this link: jenhemphill.com/application

I want to hear from you!  What was your favorite takeaway from this episode? Please come on over to our community and share with us there.

Abrazos + Much Love,

Jen

P.S. THANK YOU for listening!

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