W: Our guest on today’s Book Talk is John Black, the author of the new bestseller Retire Early.
M: Thanks for having me on the show, Lisa.
W: John, your book is getting a lot of attention, partly because you write that most people can retire by 40. Is that realistic?
M: Definitely. When researching this book, I interviewed hundreds of people who retired by 40.
W: Okay. But how much money does a person need to retire? I’ve read articles recommending $1 million as a good figure for retirement.
M: While most financial planners do give numbers, I don’t think that’s useful, as people are living in different areas with different costs of living and have different needs and wants, which is why I suggest that people aim for financial independence.
W: What do you mean by financial independence?
M: Having investment income that’s greater than monthly expenses.
W: That sounds risky to me. What if an accident happens or you get ill and need medical treatment? Shouldn’t people have extra cash for emergencies?
M: Too many people spend their lives working on jobs they hate because they’re afraid. So I counsel people to take risks. Retirement doesn’t have to be permanent. And if people need to, they can go back to work.
W: But it’s not always easy to get back into the workforce after an extended absence.
M: True. But if you keep current with your skills, you will be attractive to employers.
W: Maybe. But how can anyone save enough to retire by 40 when most people can’t retire at 60?
M: Simple. By cutting housing, food and transport expenses and investing half your monthly income.
W: That sounds impossible.
M: I admit it’s difficult, but it has worked for thousands.

Q12: What do we learn about the man’s book published recently?
Q13: What do the articles the woman read recommend?
Q14: What does the man say about retirement?
Q15: How does the man say his proposal about retirement can be carried out?