Mile High FI Podcast

Doug and Carl catch up to discuss their recent summer adventures.  They discuss Carl’s FI-centric road trip & his future travel plans, Doug’s experience with timeshares, fitness routines while traveling, and an update on Doug’s back injury.  And because this is a money podcast, they also touch on the current state of the stock market. Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Want to support our new product line of Mile High FI eye masks (complete with googly eyes)?  If so, head over to Buy Me A Coffee. Links ChooseFI Local Groups Physician on FIRE on MHFI episode 112 Physician on FIRE, “A Timeshare Presentation Survival Guide: Getting to No” FinCon Chris Hutchins, “My New Routine, Timeshare Pitches, and Podcast Plans for 2024” CampFI Matt & Joel/How to Money, “Should You Buy a Refurbished Phone?” Mark Trautman Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 1:44 Carl’s recent road trip 5:59 Traveling less 10:20 Doug’s timeshare experience 17:58 Future timeshare research 21:22 The math behind timeshares 28:55 New member of the family 33:35 Voice-to-text woes 40:52 Doug’s back injury 44:43 Working out on the road 51:04 Current stock market volatility 57:08 Soundcheck – Summer heat

Doug and Carl answer a potpourri of audience questions at CampFI Rocky Mountain with help from Mark Trautman (Mark’s Money Mind), Pete Adeney (Mr. Money Mustache), Travis Hughes (Downshift Financial), and Mindy Jensen (BiggerPockets Money/Mindy on Money). On a scale of 1 to 10, how happy were you to see asparagus served in the cafeteria at CampFI? What was the most embarrassing moment on the way to FI? For Pete:  How do you navigate a complex case study – how do you look at it, and how do you simplify? If we find ourselves in a really good situation it might be better to change the world a little bit while we’re still alive.  Why do we have to wait until we’re dead? How do you feel about asparagus? Can you talk about your interest in coaching and why you enjoy it? What has surprised you about post-FI life? What is still on your bucket list to do post-FI? As a recovering FIRED software engineer, I’m still too much into routines and planning.  How do I introduce more spontaneity into my life post-FI? What is your second favorite vegetable (besides asparagus)? For Travis: Is a Roth conversion considered earned income?  Is it income that can be deducted for HSA, rental loss, other business loss, capital gain loss? What is the weird habit you do in the bathroom that you don’t want anyone to know? What percentage of assets should be in bonds vs stocks and when should you rebalance? Why is Emma so awesome? For Mindy: What is your favorite part of CampFI? Compare and contrast index funds vs real estate Any interest in a new FI movement – Sasquatch FI (whereby you pursue FI to find a life dedicated to traveling the world in search of the elusive, enigmatic Bigfoot)? FI has changed a little bit from the early blogging days, so how do you see it shifting with “Die With Zero”?  How do you see the new wave of FI? David Lee Roth or Sammy Hagar? Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Missed CampFI but still want to hang out?  If so, join us in our Facebook group or over at Buy Me A Coffee. Links (*Some affiliate links so we might earn a commission if you buy something) CampFI Mark Trautman Mark’s Money Mind website Mark’s Money Mind podcast Pete Adeney Mr. Money Mustache blog Instagram Mr. Money Mustache, “Notes on Giving Away my First $100,000” Mr. Money Mustache, “How to Give Money (and Get Happiness) More Easily” Travis Hughes/Downshift Financial Mindy Jensen Email: mindy@mindyonmoney.com BiggerPockets BiggerPockets Money Mindy on Money scholarship Darren & Jolene/Dare to Draw Down Maggie Gunther Peter Singer, “The Life You Can Save” Hardcover Paperback Audiobook JL Collins FI Freedom Retreats Bill Perkins, “Die With Zero” Kindle Hardcover Paperback Audiobook Bob Haines on MHFI episode 210 Wim Hof BJ on MHFI episode 217 Dan Sheeks/Sheeks Freaks Early Retirement Extreme Heavy Metal Money Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 3:35 Most embarrassing FI moment 10:26 Pete discussing Case Studies 16:50 Giving back with Pete 22:23 Post-FI life 28:03 Introducing spontaneity 34:08 Travis discussing Roth Conversions 41:42 Asset allocation & rebalancing 48:44 The Mindy takeover 55:18 Mindy comparing index funds vs real estate 1:02:58 New wave of FI

Doug chats with early retirees Jolene & Darren about their path to financial independence and early retirement.  The couple shares their experience from 20-year careers in agronomy, high savings rates, and the impact of discovering the FIRE movement in 2018.  They discuss life changes including downsizing possessions, international travel, utilizing the 72T rule to access retirement funds early, health insurance options, the benefits of South Dakota residency, and the importance of community. Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Do you believe community is important as well?  If so, hang out with us in our Facebook group or over at Buy Me A Coffee. Links Dare to Draw Down CampFI ChooseFI podcast Doug’s other podcast, “The Doug Show” Smart Passive Income Podcast with Pat Flynn The Authority Hacker podcast Empower (formerly Personal Capital) NewRetirement Nectarine, Advice-Only Financial Advisors “Playing with Fire” movie Bill Yount/Catching Up To FI Go With Less Mark Trautman Retirement and IRA Show podcast MDsave Escapees RV Club EconoMe Conference Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 3:39 Discovering Financial Independence 8:44 One of these FIRE people 13:06 Obtaining the confidence to retire 21:14 Tracking expenses & asset location 26:15 Using a 72T in retirement 38:32 Transitioning into retirement & retiring to something 43:09 Hiking in Europe 51:46 Memorable meals & sleep while traveling 57:54 Downsizing 1:06:39 Implementing the 4% rule & changing expenses 1:14:13 Health insurance & South Dakota residency 1:25:49 Soundcheck – CampFI

Doug and Carl chat with Debbie and Chris Emick from the “Go Bucket Yourself” blog & podcast about their journey to financial independence.  Debbie & Chris discuss their core values, real estate, overcoming challenges & fear, cultivating a growth mindset, the significance of community building, and their adventurous lifestyle, including homeschooling and travel.  Note: This is a rebroadcast of MHFI episode 052 Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Head over to Buy Me A Coffee and help support us, so that we can adopt a pig for our mascot. Links (*Some affiliate links so we might earn a commission if you buy something) Connect with Debbie & Chris: Go Bucket Yourself website Go Bucket Yourself podcast Debbie’s Instagram Chris’s Instagram Debbie Emick, “The Other Side of Perfect” Kindle Hardcover Paperback Audiobook CampFI Physician on FIRE Ryan Holiday Books “The Obstacle Is The Way” Kindle Hardcover Paperback Audiobook “Ego Is The Enemy” Kindle Hardcover Paperback Audiobook FinCon Jillian Johnsrud on ChooseFI podcast episode 084 Robert Kiyosaki Books “Rich Dad Poor Dad” Kindle Paperback Audiobook “Cashflow Quadrant” Kindle Hardcover Paperback Audiobook BiggerPockets podcast BiggerPockets Money podcast Mr. Money Mustache Maggie Tucker/Friends on Fire on Go Bucket Yourself podcast episode 41 Diania Merriam/EconoMe Conference Front Row Dads Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 5:36 Pooping in holes 11:35 Traveling with kids & homeschool philosophy 19:35 Origins of Go Bucket Yourself & core values 24:07 Eliminating obstacles & overcoming fear 32:27 Discovering FIRE 37:55 Remote real estate investing 45:01 Transition to RE 50:00 Productivity vs learning to relax 54:26 Finding fulfillment in retirement 58:05 Mindset shifts on the path to FI 1:03:01 Willpower & additional bandwidth 1:10:12 The perfect day 1:17:17 Masterminds

Doug and Carl answer questions from the Facebook mailbag and read recent podcast reviews. Kristian – I was recently discussing the subject of financial independence with a friend, she sits in the business and entrepreneurial camp, and she has a strong opinion, regarding “having a FI number” as she thinks it is limiting my mindset.  She often says that she feels like it’s working towards a minimum standard rather than trying to maximize my potential.  Do you have any thoughts on this? Brett – Car loan pay-off is $7053; car loan is $446 a month, interest is 2.3%.  Have been paying $200 a week to get the car paid off ASAP.  Savings is paying 5.5% APY.  Should I continue paying the car off ASAP or would it make more sense to just pay the monthly payment due to the savings APY? Molly – I drive a really beautiful and sleek 2008 Honda Civic.  My insurance keeps creeping up.  I just spoke to the agent and I could raise my deductible to 1K or 2K for modest savings, but the 5K deductible gets me to around $60 a month. I like the sound of that – but is a 5K deductible insane?  I have zero desire to upgrade my car.  I like the older cars that aren’t fully computer chips at this point.  What do you guys think? Ben – Anyone else a very unfrugal FI individual?  I like to eat out, I like newer cars, I like new toys. Steven – Vanguard recently sent a letter stating that my Solo 401k is moving to Ascensus.  Ultimately it looks like the potential for a couple new fees that I would rather avoid.  So with that in mind what would you suggest? Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Answering all these questions makes us hungry.  Support us over at Buy Me A Coffee so we can afford some Taco Bell. Links MHFI Facebook group Elizabeth on MHFI episode 212 Early Retirement Now Chat GPT analysis for paying off car loan (Brett’s question) BiggerPockets Money podcast EconoMe Conference Downshift Financial Paula Pant/Afford Anything Allison on MHFI episode 220 Jim Dahle/White Coat Investor Reddit, “Huberman struggling with very basic statistical concepts” Reddit, “Vanguard sells their Solo 401k business to Ascensus” CampFI “Mindy On Money” podcast JL Collins Kristen Rainey on MHFI episode 019 Doug’s site 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-shirts & 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 Introduction 1:04 Question – Is having a “FI number” limiting? 6:37 A little bit dangerous 11:48 Question – Payoff a low-interest car loan? 18:48 Question – Raising a car insurance deductible? 24:50 Sleeping experience on a cruise 28:40 Question – Unfrugal FI individuals 34:19 Question – Solo 401k moving to new provider 42:20 Recent reviews 49:53 Preparing for CampFI 54:28 Soundcheck – EVs & Les Pauls

Doug and Carl discuss the challenges of retiring during a market downturn.  They delve into the significance of Sequence of Returns Risk & inflation then propose strategies for financial management during recessions, such as cutting expenses, maintaining cash reserves, adjusting withdrawals, part-time work, and re-evaluating investments.  Note: This is a rebroadcast of MHFI episode 133 Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Head over to Buy Me A Coffee and help support us, so that we can FINALLY make the mesh t-shirts that we’ve been talking about since this episode originally aired in 2022. Links EconoMe Conference JD Roth/foldedspace JD Roth on MHFI episode 127 Go Curry Cracker, “The Path to 100% Equities” Michael Kitces, “Understanding Sequence Of Return Risk” Michael Kitces on BiggerPockets Money podcast episode 351 Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 4:11 Introduction 2 9:29 Taylor Swift 14:28 Retiring during a recession 18:37 Sequence of returns risk & inflation 23:11 Mitigating Sequence of Returns Risk & inflation 28:51 Other strategies for a downturn 34:28 First decade matters the most 38:43 Blooper- Failed quote

Doug chats with two recent retirees, his wife Elizabeth & friend Dusti.  They share vital tips and lessons they’ve learned, including financial planning, healthcare considerations, and the importance of flexibility and community in retirement.  The group also discusses real-life strategies like writing things down, engaging in fulfilling activities, and easing into new routines. Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Want to support our new product, the 1500 Days bidet?  If so, head over to Buy Me A Coffee. Links (*Some affiliate links so we might earn a commission if you buy something) Connect with Elizabeth by reaching out to Mindy: Email BiggerPockets Twitter/X Connect with Dusti: Facebook Strava Instagram Elizabeth & Dusti on MHFI episode 223 Elizabeth on MHFI episode 212 Dusti on MHFI: Episode 172 Episode 178 Episode 179 Gretchen Rubin, “The Happiness Project” Kindle Hardcover Paperback Audiobook Leckerlee Cookies Robert Cialdini, “Influence: The Psychology of Persuasion” Kindle Hardcover Paperback Audiobook Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 2:19 Two paths to retirement 7:51 Advice when approaching retirement 15:41 Flexible but rigid 21:20 Healthcare & night terrors 28:41 Journaling 34:46 Take a trip 38:46 Trying new things & making lists 45:48 Misc quick tips 51:43 Soundcheck – Timeshare challenge

Doug chats with two recent retirees, his wife Elizabeth & friend Dusti.  The group discusses the transition to retirement, sharing insights on dealing with stress, maintaining productivity, and discovering new interests.  Elizabeth & Dusti also answer questions from the Facebook mailbag. Jamie – Have you decompressed yet from baseline stress?  Others have said you don’t realize how stressed you really are until you leave the job behind.  If so, how long did it take?  What’s been the biggest surprise in the first two months? AJ – Has your mindset about money and spending shifted at all in the last two months?  Do you have more or less anxiety about fun spending? Frieda – What were you grateful to have done prior to leaving your employer?  And is there anything that you wish you would have done in advance to your last day at work? Hallie – Do you have any thoughts about finding challenges or fulfillment once the “honeymoon stage” is over?  Or are you just enjoying the process of relaxing and unwinding for now? Catie – How are you balancing the productivity mindset versus relaxing/being present versus guilt for being able to do a lot more of ‘nothing’?  Curious about any new routines/structure of your day now too! Chris – What has been most surprising in the first two months?  And looking back, is there anything you would have done differently about leaving? Stephanie – Leading up to retirement, what did you think your biggest challenge was going to be in retirement?  And then now that you’re a few months in, what do you think the biggest challenge actually is? Khang – What MORE do you want to do now that you’ve had some time to acclimate?  Is it an activity you’re surprised to find out about yourself? Rakesh – When is Elizabeth going to join Dusti for running? Eric – How long until Elizabeth is tired of being around Doug for all of those hours in a day? Maggie – Does Elizabeth want to come to CampFI and do puzzles with me? Callie – There is a puzzle competition???!!!  How do you find out about those?! Mira – How is puzzle solving different pre and post retirement? Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Do you have even more questions for Elizabeth or Dusti?  If so, head over to the Mile High FI Facebook group or support us at Buy Me A Coffee. Links (*Some affiliate links so we might earn a commission if you buy something) Connect with Elizabeth by reaching out to Mindy: Email BiggerPockets Twitter/X Connect with Dusti: Facebook Strava Instagram Mile High FI Facebook Group Elizabeth on MHFI episode 212 Dusti on MHFI: Episode 172 Episode 178 Episode 179 Huberman Lab supplements Saturday Night Live, “The Love Toilet” Bill Perkins, “Die With Zero” Kindle Hardcover Paperback Audiobook CampFI Doug’s site 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-shirts & 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 Introduction 3:16 Question – Have you decompressed yet? 7:30 Question – Has your money mindset shifted? 13:50 Question – What were you grateful to have done before retiring? 23:54 Question – Thoughts about finding challenges or fulfillment? 29:22 Question – Balancing productivity vs relaxing vs guilt 36:52 Question – What has been most surprising? 40:49 Question – Biggest challenge in retirement? 46:19 Question – What activity do you want to do more? 53:37 Soundcheck – Misc questions

Doug and Amberly discuss the ins & outs of when to consider using a financial advisor.  They explore the pros & cons of working with advisors, fee structures, the importance of fiduciary responsibility, how to avoid bad financial advice, and complexities of DIY financial management.  They share personal stories and experiences to illustrate the discussion, including Doug’s past mistakes with an advisor and Amberly’s insights from hosting financial discussions & events. Be sure to check out the new GhostBed Massage Topper.  Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Want to support our new business venture, financial advisor/fiduciary hats?  If so, head over to Buy Me A Coffee. Links (*Some affiliate links so we might earn a commission if you buy something) Connect with Amberly: AmberlyGrant.com FinTalks FinTalks Cruise Instagram Facebook “Jump In Feet First” podcast Elizabeth on MHFI episode 212 Amberly on MFHI episode 216 Wealthsimple Jeremy Schneider/Personal Finance Club “Types of Advisors” “The Fees Add Up” “Cost of Advice?” Northwestern Mutual Conflict of Interest brochure Northwestern Mutual Conflict of Interest brochure (Marked up) Denver Asset Building Coalition Brian Feroldi on MHFI episode 213 Downshift Financial Nectarine, Advice-Only Financial Advisors FeeOnlyNetwork JL Collins, “Simple Path to Wealth” Kindle Hardcover Paperback Audiobook Mark’s Money Mind Podcast CampFI EconoMe Conference Mile High FI Facebook Group Doug’s site 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-shirts & 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 Introduction 3:27 Definition of financial advisors 9:14 Fees 16:22 Two hats 22:13 Sleep issues 27:35 Pros of working with financial advisors 38:12 Cons of working with financial advisors 44:27 When a financial advisor is useful 53:20 When DIY might be better 57:25 FinTalks Cruise 1:03:47 Soundcheck – Laid back with rules

The hosts tackle intriguing questions about financial independence, like how to balance retirement account contributions. They navigate the complexities of long-term care insurance, sharing personal experiences and some skepticism. The dating scene also gets a humorous spin, contrasting traditional interactions with the pitfalls of apps. Plus, they delve into teaching kids financial literacy and the importance of nurturing confidence over strict rules. There's even a tasty tangent about the iconic Hot Brown from Louisville, blending culinary adventures with life lessons.