Mile High FI Podcast

Doug and Carl talk to Longmontian Justin Robbins about how to broach the subject of FIRE with other humans (and if it’s even a good idea)! Background Childhood How Justin turned getting laid off into a great experience Discovering FIRE Telling non-FIRE people about FIRE Carl is a FIsplainer How Justin quit his job Why are American identities so tied up in work? Is FIRE a cult? And will it ever be mainstream? Justin’s biggest challenge in retirement Why Carl thinks FIRE is the best life hack ever Do you love Mile High FI? Support us over at Buy Me A Coffee. Is “love” too strong of a word? Good news! You can still support us. Links Justin's Instagram Justin's Youtube Channel Justin's TikTok Justin's Twitter Longmont's Tower of Compassion Doug’s site - Check out the NEW Sleep Post. Carl’s blog: 1500 Days -- Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 2:17 Justin's background 8:17 Discovering the FIRE movement 15:15 Thoughts on retirement and going back to work 19:17 The importance of having a supportive partner 22:23 Telling non-FIRE people about FIRE 24:31 Misunderstanding FI 26:32 The ''What do you do for work?'' question 32:18 Should we bother telling other people about FIRE? 36:59 Is the FIRE community a cult? 38:20 Why FI will never be mainstream 43:45 Advice for approaching early retirement 45:36 Exercising your mind 47:00 Hiking 49:54 The impact of inflation on early retirement 53:51 Lessons and challenges 59:21 Why FIRE is the best life hack 1:03:36 The perfect day 1:05:31 Where to find Justin on social media

Doug and Amberly are back for another Mail Bag episode! They answer your questions on a range of topics: Funding children's college education Hiring a (financial) coach To have or not to have kids Renting vs nomadic living Starting a landlord journey Should I max out my 401k or buy a house? As a bonus, our hosts reflect on their personal goals by writing a letter to their future selves. Links Free Link to ChatGPT Cheatsheet Video on ChatGPT to Descript ChatGPT For Beginners -- Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 3:39 What's Amberly been up to 7:20 What's Doug been up to 8:35 Chat GPT is kinda awesome 14:56 Funding kids' college tuition 30:09 Do you NEED a (financial) coach? 42:16 To have or not have kids 46:22 Buying a house vs living as a nomad 50:05 Starting a landlord journey 51:42 Should I max out my 401k or buy a house? 55:22 A letter to our future selves 01:01:38 How you can support us

Carl discusses his crazy $10,000 semi-spontaneous purchase. Buying a private concert with The Webb Brothers Memory dividends Mindy approves The Big Event Philosophical Musings What Doug thinks about all of this What would Doug spend $10,000 on? Stuff versus experiences Why your purchases may become irrelevant someday To budget or not to budget… Staying thoughtful about spending It’s cold in Colorado. The Mile High FI studio in Doug’s basement is even colder. Help keep the studio warm and get cool stuff: https://www.buymeacoffee.com/milehighfi EconoMe: Doug and Carl are going to EconoMe again and are planning a meetup. Get your ticket here and enter MILEHIGHFI at checkout for a discount. See you in Cincinnati! Links The Webb Brothers Kickstarter Maroon (perhaps the Webb’s greatest work) Liar’s Club In A Fashion   -- Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com   0:00 Intro 4:59 Carl bought a concert 16:03 Thoughts on spending money on experiences 19:02 What would Doug spend 10k on? 21:55 More ideas 27:20 Stuff vs experiences 28:33 Do purchases ever become irrelevant? 35:13 Budgeting one crazy purchase per year

It’s another Mail Bag episode! Doug and Carl answer questions about Umbrella insurance policies Does the 4% Rule still apply in light of recent market declines? Is it OK to own a Tesla? (and why is the FI community so judgmental?) Coast FI Reader case study: I’m a late comer to the FI movement Send questions and comments for future Mail Bag episodes to doug@milehighfi.com or carl@milehighfi.com. If you’re reading this, you must love the show. If you love the show, support us. Hey, we’d do it for you! https://www.buymeacoffee.com/milehighfi EconoMe: Doug and Carl are going to EconoMe again and are planning a meetup. Get your ticket here and enter MILEHIGHFI at checkout for a discount. See you in Cincinnati! Links Mile High FI interview: David Baughier Mile High FI interview: Jake Simon Big ERN’s Safe Withdrawal Rate Series Michael Kitces on the 4% Rule S&P 500 PE Ratio Death March to Financial Independence MMM HQ Coworking Doug’s site Carl’s blog: 1500 Days - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 1:20 Dry January recap 7:28 How you can support us 10:29 We got some interesting feedback! 12:36 What is an umbrella policy? 16:55 Does the 4% rule still make sense today? 25:57 Investing in a Tesla car 37:56 Join us at Econome! 39:40 Coast FI (again) 47:27 Moving towards FI as a late bloomer

Having kids is a lifestyle change that has a big impact on our finances. But how much does parenthood really cost? In this episode, Doug and Amberly explore the expected and unexpected costs that come with having children. They talk about the importance of budgeting and share some tips on how to shop wisely for new parents. The (unexpected) costs of having kids Health insurance and dental costs Schooling and tuition Are human parents and dog parents alike? The do's and don'ts of choosing a gift for new parents Tips for navigating friendships as a parent Amberly hosts FinTalks Do you love Mile High FI? Support us over at Buy Me A Coffee. Do you hate Mile High FI? Send us a large sum of money and we’ll quit! You win either way! EconoMe: Doug and Carl are going to EconoMe again and are planning a meetup. Get your ticket here and enter MILEHIGHFI at checkout for a discount. Connect with Amberly Grant! AmberlyGrant.com FinTalks Instagram Amberly on Facebook - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 2:41 Budgeting and planning for kids 7:57 Is having children similar to dogs? 10:31 The cost of having kids 25:05 Children and health insurance 32:29 Why kids' clothing is a terrible gift idea 36:33 As kids grow, so do their expenses 39:40 How to get free babysitting benefits 41:04 Why do parents count their baby's age in months?! 42:34 Schooling and tuition expenses 46:47 Navigating friendships as a parent 52:10 Amberly is on FinTalks 53:22 Fin Talk's retreat and Camp FI

After taking a break, Carl comes back to catch up with Doug. Here is what they talk about: Carl loses $2,000,000 (and is happy about it) Doug’s health issues Camp FI Southeast Carl’s 3-day fast No alcohol Meet Doug and Carl: EconoMe and NYC Do you love Mile High FI? Support us over at Buy Me A Coffee. Do you hate Mile High FI? Send us a large sum of money and we’ll quit! You win either way! EconoMe: Doug and Carl are going to EconoMe again and are planning a meetup. Get your ticket here and enter MILEHIGHFI at checkout for a discount. Links Downshift Financial Mile High FI Interview with Chris Rusin, the Indiana Jones of FIRE Mile High FI Interview with David Baughier Mile High FI interview with Jake Simon Logan Leckie Doug's website - Check out the NEW Sleep Post. Carl's blog: 1500 Days - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 1:12 How you can support us 2:40 What has Carl been up to 9:00 Doug's health issues 16:07 Carl's been fasting 25:48 - What has Doug been up to/Dry January 43:19 - Carl's house updates 45:16 - Doug has a new tattoo 47:54 - Doug tested ChatGPT 55:40 Doug and Carl are at Econome!

Doug and Amberly are back to discuss the pros and cons of different types of financial security, such as wills, trusts, and life insurance. They also talk about why whole life insurance isn't for everyone and explore some unusual scenarios. Wills vs. trusts Benefits of wills and trusts Choosing a trustee Potential scenarios in case of a divorce Life insurance Doug's story on whole life insurance Who can make medical decisions on your behalf Accelerated death benefits Connect with Amberly Grant! AmberlyGrant.com FinTalks Instagram Amberly on Facebook - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 - Intro 6:20 - Amberly's trust fund story 8:32 - Wills vs. Trusts - which is better? 10:24 - How to choose a trustee 14:04 - Benefits of a Trust 15:25 - Doug's situation 16:13 - What could happen to your money when you die 21:09 - Funding your Trust 22:28 - Life Insurance 24:50 - Is Whole Life Insurance worth it? 39:38 - Accelerated death benefits 41:21 - Trusting someone with your life 46:16 - Financial coaching and mentorship with Amberly

Doug and his co-host Amberly talk about something taboo but very important - death. They each share their own experiences with the death of loved ones and how to deal with grief. They also explore the connection between death and finances and how to put together an In Case Of Death binder. Oh, and Doug envisions his ideal memorial - and we're here for it. Dealing with the death of loved ones How witnessing death in childhood can shape us in adulthood Can we ever prepare for a person's death? Dealing with grief Advice from a hospice chaplain Death and finances Death binder CEO plan And, What we're thankful for... Connect with Amberly Grant! AmberlyGrant.com FinTalks Instagram Amberly on Facebook - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 - Intro 3:51 - Amberly's experiences with death 7:08 - Doug's experience 11:50 - Can we ever prepare for a person's death? 17:54 - What it means to live a high-quality life 23:46 - Dealing with a friend's passing 35:04 - Things we would be thankful for in case we died tomorrow 37:38 - How we would wrap up our lives before we go 41:53 - Finances and death 42:54 - In-case-of-death binder 47:12 - Putting together a CEO plan 52:22 - Closing words from a hospice chaplain 53:19 - ''How you live is how you die'' - is it true? 58:06 - Helping others deal with grief 58:59 - Why attending your own memorial is a great idea

Doug chats with his friend, Dusti, about cognitive biases and behavioral economics. They discuss how our financial habits are heavily influenced by emotions, and why we oftentimes spend money on unnecessary things. Behavioral Economics Why money is emotional Buying more than we can afford How group mentality affects our decision-making Cognitive Biases Availability bias Confirmation bias The struggle of having too many choices The ostrich effect Connect with Dusti on Instagram. - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com   0:00 - Intro 1:20 - Who is Dusti? 12:12 - Behavioral economics and the emotional side to money 18:11 - How you can support us 21:02 - Availability bias 23:10 - Confirmation bias and how society affects our buying decisions 29:39 - Is having fewer options better? 34:28 - People overvalue what they own 43:06 - Going along with everyone else 50:04 - Loss aversion 53:20 - The ostrich effect

Doug and Carl interview Andrew Giancola, host of the wildly successful Personal Finance Podcast. Quick note!:* If you think that Doug and Carl are awesome, show them some love by supporting the show. If you think they suck, give them some money to motivate them to suck less*: https://milehighfi.com/donate Early Retirement How to start on an early retirement journey How much you should have saved by certain ages How to create a bigger gap in income and expenses The 3 Horsemen of the FI-pocalypse: housing, cars, and food Making $100,000 A Year How to get promoted Doug and Carl's best tips for success on the job Personal Finance Podcast Goals of the show Imposter syndrome The meaning of wealth Links The personal finance podcast Master Money Mr. Money Mustache: The schockingly simple math behind early retirement How you can support us - Check out the Econome Conference - Save money using our coupon code MILEHIGHFI. Carl and Doug will be there, so come and hang out. Join the Mile High FI Club – It’s our email list! Support the show and get exclusive content. We use Buy Me a Coffee which is like Patreon. You can donate each month which helps a ton, or make a one-time donation. Get MHFi Merch – It helps support the show. Get t-shorts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl's Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com   0:00 - Intro 0:45 - Who is Andrew Giancola 5:10 - Time management 8:14 Andrew's corporate job 10:19 - Tips for approaching early retirement 15:06 - Andrew's beginnings 16:15 -Why retiring early is not for everyone 19:06 - Lifestyle inflation 23:18 - Splurging 24:14 - Andrew's take on frugality 26:16 - How much do you save in certain ages of life 32:15 - Income vs. expenses gap 38:54 - FI framework and how to get promoted 49:05 - Protecting assets 54:19 - Goals 55:39 - Imposter syndrome 59:00 - The meaning of wealth 1:00:19 - The perfect day