Inside Out Money

The financial services industry often profits from the misconception that managing your investments is too complex, leading you to believe that you should pay them to do it for you. This just isn’t true, and we debunk this myth and explain how to transition from relying on a financial advisor to managing your own investments. Andrew joins this week’s podcast as we talk about: - Why it’s so important to consider the long-term cost of financial advisor’s fees - The differences between a commission-based and fee-based/hourly financial advisor - Why you don’t need a commission-based financial advisor or planner - Examples of how much fees add up and impact your financial growth - Historically average market returns beat financial advisor portfolios  - How to break up with your financial advisor  - A specific email or phone script for what to say to end the relationship - The specific process of transitioning from an advisor to managing on your own - Gain the confidence to learn how to invest in low cost index funds yourself Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/058-breaking-up-with-your-financial-planner-why-and-how-to-do-it/

Actionable advice to stop comparing yourself to others and start focusing on your own life. We all compare ourselves to others, but we also know comparison is the thief of joy and we will be happier when we learn to spend less time comparing and more time living.  Erica joins this week’s podcast as we talk about: - Why it’s so dangerous to compare ourselves to others - The importance of mindset to improve our finances and overall happiness - Buddhist POV on comparison - Social media’s role in the comparison game and how to realistically combat it - 7 strategies to overcome comparison - Reflecting on your comparison habits and being honest with yourself  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/057-comparison-is-the-thief-of-joy-stop-comparing-yourself-to-others/

Greg joins this week's podcast, and we share our most significant reflections and learnings after two years of being early-retired. We break it down into our eight biggest learnings: There’s nothing to be afraid of,  be patient and kind with yourself, do less and set boundaries, monitor your hustling and what you’re chasing, structure and routine add value, it’s OK to focus on yourself, be present in this phase of life as there will be other phases ahead, and experiment and pivot. Join us as we get vulnerable on the highs and lows of the first two years of early retirement. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/056-8-lessons-weve-learned-two-years-into-early-retirement/

Financial expert Liz joins the podcast to discuss the importance of emergency funds, how much to keep in one, and where to store it. They provide a tool and formula to help listeners determine their ideal emergency fund size, emphasizing the need for discipline in using the fund only for true emergencies.

Andrew joins this week's podcast, and we talk about all of the things we don’t spend money on. We’re all about intentional spending, and we spend a lot of time talking about what we do spend our money on, and it’s interesting to also reflect on what we’re not spending money on. Check out which of us isn’t spending on car washes, house cleaning services, yard care services, haircuts, clothing, makeup, and more!  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/054-15-things-we-dont-spend-money-on/

Erica joins this week's podcast, and we talk about exhaustion, how it’s impacting our finances, and how we can mitigate exhaustion to improve our lives. We start off by discussing an article in TIME magazine about exhaustion, which shares three often overlooked causes of exhaustion: unsustainable lifestyles, stress beyond our control, and financial insecurity. We share our thoughts on how to adjust our lifestyles and finances to aim for less exhaustion and a healthier happier life. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/053-why-were-more-exhausted-than-ever-and-how-its-impacting-our-finances/

Financial expert Greg discusses migrating investments from Wealthfront to Fidelity to save $20K+ in fees. They explain the benefits of receiving dividends, better portfolio control, and improved performance. The decision is driven by concerns over fees, underperformance, and a preference for simplicity through index funds. They also touch on optimizing investments, consolidating accounts, minimizing taxable events, and transitioning to traditional index funds for better financial structure.

Liz joins this week's podcast for a very impromptu discussion where we reveal our Amazon and Target purchases for the last few months. We review each other’s purchases and discuss what we’re spending our money on lately and how it makes us feel. We each aim to focus on intentional spending, and reviewing your expenses with a friend is a fun way to check your spending. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/051-taming-target-and-amazon-we-pull-up-our-order-history-for-you-to-judge/

For the 50th Inside Out Money episode, Maggie interviews two early-retiree couples at campFI: Stacey & Andy and Amber & Bob. They share their stories of how they prepared for early retirement, challenges and learnings along the way, and much more. They also talk about their feelings along the journey, how they’re maintaining a sense of purpose and fulfillment without traditional work, the value of finding your tribe, and the power of asking interesting questions. We also take a few questions from our live audience. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/050-from-cubicles-to-campfi-an-interview-with-two-early-retiree-couples/

Andrew joins this week's podcast, and we discuss the difference between deprivation and discipline, how they are interrelated, and why it all matters. We dig into the reality of needs versus wants and how reframing deprivation as discipline can help you improve your finances and other aspects of your life. We wrap up the discussion with recommendations for improving your discipline. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/049-is-it-deprivation-or-discipline-and-will-it-improve-my-finances/