James Bashall

speaker

199 appearances 1 recordings 1 series first heard Jan 2026 last heard 29 Jan

James Bashall’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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NerdWallet's Smart Money Podcast · Are You Too Late for the Gold Rush? Plus: A Retirement Rule That Might Be Broken · 29 Jan 2026 podcast

And that's where the simpler the rule of thumb, the better, but also with a big caveat of oversimplifying it could be to your detriment.

I think this comes back to the principle of financial independence.

So retirement is such an old, almost antiquated principle that

I think the origin of it was something like, at the age of 60, you became less useful on the factory floor.

So they retired you to head off and die by 62.

That's not the reality anymore.

If you're 60 and you're finishing work, a wealthier person in America is expected to live in their 80s, if not 90s.

So you've got quite a long period there that you need to plan for with a lot of variability and uncertainty.

And that's where working helps.

And that is, if you're at, let's say you're 60 and you've got a really robust acid base and you feel pretty good and you're healthy, you could live to 100, okay?

Now you're planning for as long as you worked for to not work, assuming you enter the workforce at the age of 20.

Let that sink in.

Like, that's pretty mind-boggling that now you're going to be retired for as long as you can work.

Now, two things come into the case there.

The first is that's a long time to live off passive income, to be truly financially independent.

But secondly, it's a long time to not have the purpose and meaning of work.

And I think it's important to factor in that psychological component.

So if we get a lot of positive elements to our life that come from working, from being productive, from contributing to society, and that's where I think a lot of particularly younger generations are looking at retirement saying, well, I'd still like to do something.

I don't necessarily want to have to do what I was doing before I retired, but it doesn't mean I'm not going to get paid for the thing that I am doing in retirement.

And that's what financial independence is.

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