Editor's Note: This episode initially aired on March 15, 2023. It may contain some details that are out of date.

According to the latest report from Vanguard, looking at the average amount of money saved for retirement, there's a good chance you might not be on track for comfort in your golden years. The average 45-year-old has less than $180,000 saved for retirement.

But how do you change that? How do you even figure out when you have enough to retire? This week's guest is going to help you figure out your retirement number — and how you can reach it.

As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week's guest is Chris Mamula, one of the partners at Can I Retire Yet? He retired at 41 by figuring out his retirement number and working toward financial freedom. He's going to share his process and the steps you can take to retire earlier than you thought.

Be aware that anything you hear on this podcast doesn't constitute financial advice. Always do your own research and consult your own experts before acting on anything you learn here.

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Do you know how much you need to save for retirement?

We talk about the importance of being mindful, looking ahead and thinking about what you want out of life as you plan for retirement. Our guest, Chris, talks about the importance of a retirement number, but it's less of a specific number and more of a plan.

Meet this week's guest, Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from his career as a physical therapist at age 41. He, his wife and his young daughter then made a cross-country move from Pennsylvania to Utah to pursue their passion for outdoor adventure.

After poor experiences with the financial industry early in his professional life, Chris educated himself on investing and tax planning, including recently completing the Certified Financial Planner education curriculum and passing the CFP exam.

Chris now draws on his experiences to write and speak about DIY wealth building, investing, financial planning, early retirement and lifestyle design at the blog Can I Retire Yet? He is also the primary author of the book "Choose FI: Your Blueprint to Financial Independence." In addition, Chris works one-on-one with those looking to improve their finances and use them to create a better lifestyle as an advice-only financial planner with Abundo Wealth.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.