Explore the hidden costs of our relationship with possessions as the holiday season approaches. Delve into the difference between meaningful 'gear' and unnecessary 'stuff' with insights from a seasoned author. Discover how consumerism affects clutter and retirement planning, alongside strategies to make smarter purchasing decisions. The discussion also uncovers the nuances of Master Limited Partnerships in investing and the tax implications involved. It’s a thought-provoking journey into mindful consumption that could reshape how you view your belongings.
39:11
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
The Burden of Stuff
Accumulating possessions can create a "gilded cage," especially as retirement approaches.
Manage your relationship with "stuff" to avoid being trapped by possessions and increase freedom.
question_answer ANECDOTE
The Gilded Cage
Roger advised a successful businesswoman with young children to be mindful of her spending habits.
Increased income can lead to lifestyle inflation, creating a "gilded cage" of possessions.
insights INSIGHT
Gear vs. Stuff
Modern homes contain 10,000-50,000 items, a stark increase from the past.
This shift reflects a move from utilitarian "gear" to unnecessary "stuff."
Get the Snipd Podcast app to discover more snips from this episode
In 'The Comfort Crisis,' Michael Easter explores the idea that modern society's emphasis on comfort and convenience has led to various physical and mental health issues. Easter's journey takes him to diverse locations, including the Alaskan backcountry, Bhutan, and the labs of neuroscientists, to uncover the benefits of living at the edges of one's comfort zone. He discusses the concept of 'misogi,' a Japanese practice involving challenges that push individuals to their limits, and how such experiences can enhance creativity, reduce burnout and anxiety, and increase overall well-being. The book is a call to action, encouraging readers to break out of their comfort zones and reconnect with the natural world and their own potential[2][3][4].
In this episode, Roger discusses the impact of our relationship with "stuff" on our retirement journey. With the holiday season upon us, we're all about giving and receiving, but how does this accumulation affect us long-term? Michael Easter, author of The Comfort Crisis and Scarcity Brain, joins the conversation and shares insights on distinguishing between gear and stuff. Michael shares insights on the psychological and societal influences driving consumption and offers practical tips for making more mindful purchasing decisions. We also address listener questions on topics like the tax implications of campaign promises and master limited partnerships. Tune in for a thought-provoking discussion that might just change the way you view your possessions and retirement planning.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
[01:00] Our relationship with stuff can have second and third order consequences in retirement
[01:50] How watching the Buy Now documentary inspired Roger to think about possessions
[03:10] The impact of clutter on retirement
GEAR VS. STUFF CHAT WITH MICHAEL EASTER
[05:40] How the amount of items in the average home has changed over time and why
[07:36] Michael Easter defines gear and stuff
[09:39] Humans evolved to get as much information as possible
[12:00] Managing gear vs. stuff in holiday shopping
[12:45] How ecommerce platforms have taken features from casinos to help speed purchases
[14:25] Strategies to reduce needless purchases
[19:50] Roger’s plan for gifts this year
LISTENER QUESTIONS
[23:45] David’s comment on verse and versus
[24:55] Mary on how to ask better questions
[26:26] Armand asks why we aren’t discussing potential elimination of income tax on Social Security
[30:41] Todd has a question about master limited partnership stocks
SMART SPRINT
[38:00] Be aware of your purchases this holiday season - are you buying gear or stuff?
Retirement Answer Man 