Mile High FI Podcast

Doug and Carl chat with Allison, delving into her unique journey as a nanny for high net worth families and some insights & takeaways from those with wealth.  Allison also discusses her path toward financial independence including frugal areas of her life, giving into the (lifestyle) creep, and finally attending an in-person FI event for the first time after being in the community virtually for so many years. 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, Pets on Jets?  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 Allison on Instagram FinCon “Mindy On Money” podcast EconoMe Conference Vicki Robin & Joe Dominguez, “Your Money or Your Life” Kindle Paperback Audiobook Audio CD Pete Adeney/Mr. Money Mustache Early Retirement Extreme Brad Barrett/ChooseFI BJ on MHFI episode 217 CampFI Allison on Earn & Invest podcast, “How to Take Action (Live From Econome)” Allison on ChooseFI podcast, “The Courage to Take Action | EconoMe LIVE with Doc G | Ep 488” Jordan Grumet/Doc G 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 3:12 Life as a nanny for the wealthy 9:22 Insights on wealth & happiness 13:11 Sunk cost fallacy 20:28 Contemplating life with 100X current net worth 27:19 Discovering Financial Independence 37:35 Areas of frugality 42:58 Giving in to the (lifestyle) creep 49:22 Attending first FI events 55:19 FI in real-life 1:05:13 The perfect day 1:09:47 Soundcheck – Gray blobs

Doug and Carl chat with Vivi Ton who shares her bold decision to leave a stable career as an aerospace engineer to pursue her true passion in graphic design.  Vivi discusses entrepreneurship & her work with Personal Finance Club, her experiences with mental health & therapy, navigating the societal pressures of leaving a high-paying job, and offers insight into the importance of finding work-life balance. Note: This is a rebroadcast of MHFI episode 054. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Use coupon code MILEHIGHFI which is good for 20% off any Personal Finance Club products – individual courses or the bundle.  (Affiliate so we might earn a commission) Want to help us quit our job as podcasters?  Support us at Buy Me A Coffee so we can finally stop. Links Connect with Vivi on Instagram Personal Finance Club Website Instagram Courses Jeremy Schneider on MHFI episode 122 Nectarine, Advice-Only Financial Advisors Amberly Grant: FinTalks “Jump In Feet First” Podcast Vivi on “Jump In Feet First” Podcast episode 1 Mark’s Money Mind Podcast Doug’s Podcast Accelerator Pete Adeney/Mr. Money Mustache 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 4:49 Quitting engineering 10:52 Sunk cost & transitioning to graphic design 16:42 Entrepreneurship & identity 26:30 Reflections on changing careers 33:07 Therapy and personal growth 38:47 Discovering Financial Independence 43:41 Losing youth 50:49 Travel & social media 56:22 The perfect day 1:02:45 Soundcheck – Guilty pleasure music

Doug and Carl catch up briefly on a potpourri of personal topics including challenges of managing time, updates with the lazy book, fitness updates, and upcoming summer plans.  They also discuss changes in Google search, the impact of AI on search results, and the current state of SEO. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Feel bad that Carl and his kids are missing door knobs?  Support us at Buy Me A Coffee so he can afford new ones. Links Hoffman Process “Mindy On Money” podcast Doug’s other channel, “Niche Site Project” “Omnibus” podcast Google search: Doug Cunnington, “Google Publisher Success Stories vs Google Search” Omnibus podcast, “Kim’s Video (Entry 687.MT0542)”, Google discussion at 56:39 Edward Zitron, Where’s Your Ed At?, “The Man Who Killed Google Search” The Verge, “Google is getting even worse for independent sites” Brad Barrett/ChooseFI CampFI Physician on FIRE Ramit Sethi 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 1:05 Not enough time 3:55 Lazy book update 6:02 Changes to Google search 14:00 Mini-fitness updates 19:27 Summer plans 27:35 Soundcheck – Never-ending projects

Doug and Carl chat with Air Force veteran & physician B.J., who shares his journey toward Financial Independence and life beyond material success.  B.J. discusses how military benefits like pensions & healthcare can pave the way to financial success, the personal growth he experienced after achieving FI, and the pursuit of deeper happiness beyond owning dream items such as a Lamborghini.  Post-military retirement, B.J. emphasizes the importance of giving back to the community and explores his decision to continue working, motivated by a desire to serve others. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Are you looking to explore the “squishy stuff” but don’t know where to start?  Come over & start your research at Buy Me A Coffee, perhaps we can help. *Some affiliate links so we might earn a commission if you buy something. Links (*Some affiliate links so we might earn a commission if you buy something) EconoMe Conference Diania Merriam “Playing with Fire” movie Bill Perkins, “Die With Zero” Kindle Hardcover Paperback Audiobook CampFI FinCon Elizabeth on MHFI Episode 212 Jordan Grumet/Doc G Jordan Grumet, “Taking Stock” Kindle Paperback Audiobook Audio CD Bronnie Ware, “Top Five Regrets of the Dying” Kindle Hardcover Paperback Audiobook David Brooks, “The Second Mountain” Kindle Hardcover Paperback Audiobook Bill Yount & Jackie Cummings Koski/Catching Up To FI Dave Ramsey Military Dollar Doug Nordman/Military Financial Independence Doug Nordman, “The Military Guide to Financial Independence and Retirement” Kindle Paperback Chris Hutchins Jackie Cummings Koski/FInomenal Woman Kiersten Saunders/rich & REGULAR 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 5:18 Overcoming sunk cost fallacy 13:01 Military benefits 22:21 Living life & financial reflections 28:41 Community, connection, & finding fulfillment 32:41 The dream purchase 42:46 Reflecting on achievements & what truly matters 53:34 Additional military benefits 58:58 Financial literacy & education 1:04:55 Creating a life you want to live 1:14:39 Working on self, making a difference & squishy stuff 1:21:38 The perfect day 1:30:02 Soundcheck – Workouts

Doug and Amberly explore the intriguing reasons why many millionaires consider themselves middle class.  They discuss the technical definitions of financial classes vs. the challenging societal definitions of these same classes, how both of these relate to their own views, and the psychology of wealth & self-perception among financially successful individuals. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Still confused by all these definitions of middle class?  If so, help us fund our own surveys & research by heading over to Buy Me A Coffee Links Doug’s Podcast Accelerator Connect with Amberly: AmberlyGrant.com FinTalks Instagram Facebook “Jump In Feet First” podcast Amberly on CNBC Make It Doug & Amberly discuss “failing” FI on MHFI episode 174 Erin Talks Money YouTube Erin Talks Money, “Reality of the Middle Class Millionaire” Yahoo Finance/Insider Monkey, “15 Reasons Why Millionaires Think They’re Middle Class” “Millionaires Share Practical Financial Tips in New Research from Ameriprise Financial” Doug & Carl discuss feeling wealthy & rich on MHFI episode 203 Thomas Stanley & William Danko, “Millionaire Next Door” Kindle Hardcover Paperback Audiobook Investopedia Definitions: “Middle Class: Definition and Characteristics” “Working Class Explained: Definition, Compensation, Job Examples” “Upper Class: Definition, Salary, Example, and Other Social Classes” United States Census Bureau “Wealth, Asset Ownership, & Debt of Households Detailed Tables: 2021” “Income in the United States: 2022” David Chilton, “The Wealthy Barber” Paperback EconoMe Conference Morgan Housel Ramit Sethi Mark’s Money Mind Podcast 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 3:26 Millionaire net worth profiles 7:54 Interpreting survey results 13:41 Defining classes by income 24:07 Defining classes by net worth 30:27 The shrinking middle class 37:40 Why millionaires feel middle class 46:50 Millionaires’ mindset & class identity 55:53 Comparison is the thief of joy 1:01:22 Rich or wealthy 1:07:45 Amberly’s podcast, “Jump In Feet First” 1:16:06 Soundcheck – Catching up

Doug and Carl work through a case study from listener Frank and also answer questions from the Facebook mailbag. Frank – Has a stressful, yet well paying job.  Should he stay at his current job, which he doesn’t like so much, or move on to something else that he’s been contemplating for a while? Rich What does a typical daily meal and snack look like?  If you had to change it up, what would you do to make it more ideal? What are a couple of key takeaways that you have learned by chatting with other FIRE folks that you are trying to instill in your life? If you had a second home, what city or state would it be in and why? Paddy – Carl has built an Allan Block retaining wall; would he do this again or hire out?  If so, any tips? John – Who wins in a footrace – Doug or Carl? Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Want to support our new business venture, the Meat Oatmeal Food Truck?  If so, head over to Buy Me A Coffee. Links Mile High FI Facebook Group Doug’s Podcast Accelerator Tim Ferriss Pete Adeney/Mr. Money Mustache David Baughier on MHFI episode 138 CampFI EconoMe Conference Bill Perkins, “Die With Zero” Kindle Hardcover Paperback Audiobook Mark’s Money Mind Podcast Jason’s Podcast, “Digital Downshift” Amberly Grant’s Podcast, “Jump In Feet First” Brad Barrett/ChooseFI Jordan Grumet/Earn & Invest podcast JL Collins Hoffman Process  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 2:02 Frank’s case study summary 8:35 Leaving the job vs. phoning it in 15:56 Contract work or entrepreneurship 21:43 Question – What is a typical daily meal or snack? 30:13 Vacation eating & summer plans 36:13 Question – Key takeaways from other FIRE folks? 45:48 Question – Location of a second home? 50:07 Question – Tips for building a retaining wall 53:29 Question – Who wins in a footrace? 58:58 Soundcheck – Hoffman Process incident

Mindy and Carl catch up with long-time friend Brandon, the Mad Fientist, to discuss the balance between spending, saving, and maintaining happiness.  Brandon details his journey from extreme frugality to spending experiments to purposeful spending/spending for happiness.  He also discusses the indispensable role of personal development, the importance of experiences over possessions, and the influence of parenthood and life events in reshaping priorities. Note: This is a rebroadcast of episode 22 of the “Mindy on Money” podcast. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Interested in your own spending experiment?  If so, head over to Buy Me A Coffee and experiment with supporting the show! Links “Mindy on Money” Podcast Website YouTube Channel Facebook Group “Let’s Talk About Our Appearance on the Ramit Show” podcast episode Mad Fientist Website/blog Music Financial Independence Podcast “Ramit Sethi – I Will Teach You to Be Rich” podcast episode “Ramit Sethi – How to Spend (and Actually Enjoy It)” podcast episode “How to Access Retirement Funds Early” blog post “Happiness Through Subtraction” blog post “Best Advice” pdf Ramit Sethi Elizabeth on MHFI Episode 212 FinCon J. Money Budgets are Sexy Bill Perkins, “Die With Zero” Kindle Hardcover Paperback Audiobook BiggerPockets Money podcast, “Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together” Pete Adeney/Mr. Money Mustache 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 4:29 Catching up with Brandon 10:32 Lessons from Ramit & Die With Zero 17:15 Recovering from Ramit 23:01 Carl’s Tesla 30:12 Spending experiments 41:23 Navigating the emotions of FI 48:12 Reframing thoughts on “frivolous” spending 53:00 Keys to happiness 58:03 Advice for others on their FI journeys 1:06:45 Bloopers & closing thoughts

Doug and Carl chat with financial educator, investing enthusiast, and author Brian Feroldi.  Brian delves into early investment mishaps, his investing philosophy (focusing on high-quality, long-term businesses), the significance of understanding the stock market & personal finance, and where to find new investing ideas.  The group also discusses Warren Buffett & the role of dividend investing along with AI’s impact on productivity and stock market returns. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) If you’re looking for a crazy, high-risk/high-reward investment opportunity, come over to Buy Me A Coffee and invest in us! Links Connect with Brian: Facebook Instagram Twitter/X LinkedIn Brian’s YouTube Channel Brian Feroldi, “Why Does The Stock Market Goes Up?” Kindle Hardcover Paperback Audiobook Long-Term Mindset The Motley Fool EconoMe Conference Robert Kiyosaki, “Rich Dad Poor Dad” Kindle Paperback Audiobook Books by Jim Cramer “Jim Cramer’s Mad Money” Kindle Hardcover Audiobook Audio CD “Jim Cramer’s Stay Mad For Life” Kindle Hardcover Paperback Audiobook Interactive Brokers Berkshire Hathaway Charlie Munger, “Poor Charlie’s Almanack” Kindle Hardcover Audiobook FinCon Books by Morgan Housel “The Psychology of Money” Kindle Hardcover Paperback Audiobook “Same as Ever” Kindle Hardcover Paperback Audiobook John Maynard Keynes, “The 15-Hour Week” ChatGPT DATAROMA Whale Wisdom Terry Smith/Fundsmith Equity Fund Chuck Akre/Akre Focus Fund Dan Davidowitz/Polen Capital Craft + Commerce event (by ConvertKit) 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 4:10 Chasing a hot mutual fund 8:37 Transitioning to buying individual stocks 13:45 The work behind successful stock investing 17:56 Thoughts on dividend investing 25:39 Warren Buffett,Charlie Munger, & Berkshire Hathaway 30:06 Impacts of productivity & AI on the stock market 36:03 Everyday uses of AI (ChatGPT) 41:11 Where to find new investing ideas 48:01 Soundcheck – Regional foods

Carl chats with Doug and his wife Elizabeth who recently left her career and retired early.  Elizabeth discusses her introduction to Financial Independence and some of the skepticism she initially had while also walking through some of the specifics about actually leaving her job (making the decision, having a solid financial plan in place, and describing her last day at work).  She goes on to share insights on adjusting to retirement, staying mentally active, societal perceptions of retiring early, the importance of finding joy outside work, and the importance of having a purpose post-retirement. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Are you an early retiree looking for something to fill your time or to provide purpose?  If so, come over to Buy Me A Coffee and hang out with us. Links Mr. Money Mustache Bogleheads forum Tim Ferriss podcast, “Mr. Money Mustache — Living Beautifully on $25-27K Per Year (#221)” BiggerPockets Money podcast, Episode 153 with Bill Bengen 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 1:58 Discovering FIRE 7:48 Good financial habits, tools, & practices 13:19 FIRE skepticism 18:49 Overcoming uncertainty & leaving work 23:34 Debate on the 4% rule 29:41 Working again after retirement 36:23 Pulling the trigger to actually quit 43:51 Single point of success 49:44 Last day of work & what happens next 54:48 Retirement worries 1:00:38 Telling friends & family about retirement 1:08:48 FI events & the perfect day 1:16:27 Soundcheck – Envelopes

Recorded in the hotel lobby on the last day of the EconoMe conference, Doug and Carl reflect on some of the presentations and conversations they had over the weekend while also providing their own insights & observations.  They discuss various topics including: the evolution of the FIRE movement from its initial focus on accumulating wealth to its current emphasis on mental health and personal development, happiness, post-FI life challenges, and strategies for dealing with anxiety and negative thoughts. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Couldn’t make it to EconoMe this year, but still want to hang out with others in the FI community?  If so, come over to Buy Me A Coffee and hang out with us. Links “Mindy On Money” podcast Doug’s Podcast Accelerator Doug’s SEO & Marketing Podcast, “Ranking Revolution” EconoMe Conference JL Collins Katie & Alan Donegan JD Roth/foldedspace Meteorologist Kristen Amberly Grant 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 1:52 Stress & anxiety 8:53 Removing the mask in retirement 12:11 Thoughts on post-retirement life 17:41 One-more-year syndrome 25:27 Happiness & confronting personal issues 29:09 Evolution of FI 34:47 Carl’s 3 tips (plus a bonus) 39:46 Podcast projects beyond MHFI 47:11 Soundcheck – Feeling tired