Mile High FI Podcast

Doug and Carl chat with JL Collins about the evolution of the FIRE movement, lifestyle inflation, “enough”, & envy as well as how diverse the FI community is (not exclusive to any particular income level or lifestyle).  JL introduces his recent book, “Pathfinders”, which collects stories that demystify the process of achieving financial independence and highlights the different paths that people have taken, echoing the themes of intentional living and spending. Have you already found your “enough”?  If so, then you’re welcome to share anything above & beyond with us over at Buy Me A Coffee. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Doug & Carl will be attending the EconoMe Conference in Cincinnati, OH on March 15-17, 2024.  For those interested in attending, use the coupon code MILEHIGHFI at checkout to save 10%.  https://economeconference.com/ Links (*Some affiliate links so we might earn a commission if you buy something) JL Collins Blog JL Collins Stock Series Books by JL Collins: “Pathfinders” Kindle Hardcover Audiobook “The Simple Path to Wealth” Kindle Hardcover Paperback Audiobook “How I Lost Money in Real Estate Before It Was Fashionable” Kindle Hardcover Paperback John Maynard Keynes, “The 15-Hour Week” Morgan Housel, “Same as Ever” Kindle Hardcover Paperback Audiobook Early Retirement Extreme Mr. Money Mustache FI Chautauqua 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 4:15 Life-style inflation & enough 12:42 Envy 16:52 Overcoming envy 26:10 Chautauqua & diversity in the FI community 31:04 Evolution of financial blogging 36:08 Introduction to Pathfinders 44:38 Writing books vs. blog posts 50:41 The great pizza debate 56:08 Soundcheck – Life in Florida

Doug and Carl celebrate the 200th episode of the Mile High FI podcast, reminiscing about the past while discussing future plans.  Topics include: what they've learned, what they enjoy about podcasting, the many challenges they've faced, and goals & plans for 2024 and the next 100 episodes.  Carl also discusses his new podcast with Mindy. Come celebrate 200 episodes with us over at Buy Me A Coffee. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Doug & Carl will be attending the EconoMe Conference in Cincinnati, OH on March 15-17, 2024.  For those interested in attending, use the coupon code MILEHIGHFI at checkout to save 10%.  https://economeconference.com/ Links “Mindy On Money” podcast Connect with Mindy Jensen: Email BiggerPockets Twitter/X EconoMe Conference Carl’s YouTube channel James Clear Derek Sivers Mark Manson Morgan Housel Morgan Housel on the Tim Ferriss podcast: “Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor (#576)” “Morgan Housel — Contrarian Money and Writing Advice, Three Simple Goals to Guide Your Life, Journaling Prompts, Choosing the Right Game to Play, Must-Read Books, and More (#702)” Pete Adeney/Mr. Money Mustache Descript (AI-Powered Video Editor) 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 3:18 Mindy On Money 5:58 What we’ve learned 13:25 What we like about podcasting 16:32 Future guest wishlist 23:03 What’s coming up for the podcast 28:43 Interview skills

Doug and Carl chat with Diania Merriam about big events in her life in 2024 (a wedding & the EconoMe conference), struggles with scarcity mindset/shifting to an abundance mindset, and how these mindsets have influenced her approach to wedding planning.  Along the way she discusses her transformative experience at the Hoffman Process retreat, especially as it relates to spending.  Diania also provides a preview of EconoMe, an overview of the conference goals, and highlights the importance of community on the path to financial independence. Not planning to attend EconoMe?  You can still hang out with us virtually by heading over to Buy Me A Coffee. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Doug & Carl will be attending the EconoMe Conference in Cincinnati, OH on March 15-17, 2024.  For those interested in attending, use the coupon code MILEHIGHFI at checkout to save 10%.  https://economeconference.com/ Links EconoMe Conference EconoMe YouTube Channel Optimal Finance Daily Podcast The Summit of Greatness Skyline Chili Cincinnati DJ Natalie Jones Hoffman Process Diania at CampFI, “Unlocking the Abundance Mindset | A Paradigm Shift” Carl & Mindy on Ramit Sethi’s podcast Mr Money Mustache, “Frugal Man Buys $52,000 Car - Why?” Mad Fientist on MHFI Episode 176 Diania on Doug.Show Podcast Episode 323 The Hoffman Process discussions on Tim Ferriss podcast with Andrew Huberman & Blake Mycoskie (founder of TOMS Shoes) 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 1:17 Big 2024 events 6:58 Diania’s engagement story 16:16 Wedding planning & what it represents 24:47 Hoffman retreat & transition to spending money 31:55 Overcoming fear & embracing abundance 38:49 Shifting from scarcity to abundance mindset 47:23 EconoMe 2024 55:34 Soundcheck - The Hoffman Process

Doug and Carl reflect on their paths to financial independence and discuss the advice they would have given their younger selves.  Topics include college education/career paths, early savings, retirement account contributions, index fund investing, flexibility across different investments, strong work ethic, resilience, and of course... asparagus. Do you wish that your younger self found this podcast earlier in life?  Well, you can't go back to the past, but there's still time to support us over at Buy Me A Coffee. Links Elon Musk University Bill Perkins, “Die With Zero” Morgan Housel, “Psychology of Money” Thomas J. Stanley, “The Millionaire Next Door” Sean Mullaney on MHFI Episode 114 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 1:17 Education & alternate career paths 6:35 Carl’s first post-college job 10:29 Doug’s early career jobs 15:51 Early investing experiences 20:19 Rich vs. wealthy 25:25 Investment strategies & lessons 33:42 Importance of work ethic 38:07 Final thoughts & advice 42:05 Soundcheck - Hangover cure

Paula Pant and J.D. Roth join Doug at FinCon 2023 to discuss their unique sabbaticals. Paula details her year-long break from 'Afford Anything' to pursue a Columbia University fellowship, while J.D. shares his experience stepping away from finance writing to pursue art and Taoism. They both open up about the challenges of their time off and future plans while also providing tips for those considering a sabbatical. Are you currently on a sabbatical and need something to fill your time? If so, come hang out & support us over at Buy Me A Coffee. Links Paula Pant/Afford Anything Afford Anything YouTube Channel Afford Anything, “Your First Rental Property” Course JD Roth/foldedspace Get Rich Slowly YouTube Channel Samuel Johnson, “The Idler” Bertrand Russell, “In Praise of Idleness” “Idler” magazine Thich Nhat Hanh, “The Miracle of Mindfulness” “Tao Te Ching” Robert Putnam, “Bowling Alone: The Collapse and Revival of American Community” Carl Richards FinCon 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 Exploring the concept of idleness 7:34 Paula's sabbatical: Pursuing education & community 10:06 J.D.'s sabbatical: Embracing idleness & self-care 12:49 Paula’s sabbatical goals 16:50 The impact of community vs. isolation 22:13 Sabbatical push-back 26:58 J.D.’s sabbatical goals 29:43 Paula’s sabbatical challenges 36:03 J.D.’s sabbatical challenges 44:00 Paula’s advice for those considering a sabbatical 49:04 J.D.’s advice for those considering a sabbatical

Money Struggles, Celebrating Success, and Potential Return to Work (in the soundcheck) We discuss listeners' questions on their individual financial journeys. Topics covered include the struggle to attain financial independence, the guilt associated with spending large amounts, the decision to stay in a high-paying but unfulfilling job versus seeking a lower-paying but satisfying career, and the challenges of maintaining control amidst smaller and larger expenses. Lastly, Carl shared his thoughts on possibly returning to work if a specific, exciting opportunity comes his way, and we discussed our spending habits and attitudes to managing finances. Links: All The Hacks (includes discussion on Mint alternatives) Mad FIentist on Mile High FI Mark Trautman Money trackers: Empower: https://www.empower.com/ Kubera: https://www.kubera.com/ Copilot: https://copilot.money/ Projection Lab: https://projectionlab.com/ Mad FIentist FI Laboratory: https://www.madfientist.com/fi-laboratory/ -- 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 00:01 Introduction to the Mile High Fi Podcast 00:33 Discussing Money Struggles 01:12 The Demise of Mint: A Personal Finance Tool 02:19 Alternatives to Mint 09:18 Balancing Fulfilling Work and Financial Independence 13:05 Managing Spending and Saving 30:54 Spending Money on Experiences 31:55 The Concept of Time Bucketing 33:06 Reflecting on Personal Struggles 33:11 Evolving with Money 34:58 The Impact of Compound Interest 39:15 The Joy of Acquiring New Things 43:17 The Struggle with Small Purchases 50:26 The Importance of Surrounding Yourself with Like-minded People 53:27 Considering Going Back to Work

Doug and Carl have an in-depth conversation with Barbara Zink who is a mother & wife, an entrepreneur, and a personal finance enthusiast who describes herself as a "closet FI person." Barbara shares her FIRE journey and how cutting back on alcohol consumption has not only resulted in several health benefits, but has also contributed greatly to her financial goals - the money saved from not drinking has helped fund her children's 529 college plans, helped her start an online business, and funded a spousal IRA. Have you also decided to cut back on alcohol, but don't know what to do with all the savings?  If so, come support us over at Buy Me A Coffee. Links ChooseFI podcast Mad Fientist podcast World Health Organization (WHO), “No level of alcohol consumption is safe for our health” Nick Loper/Side Hustle Nation Spousal IRA Huberman Lab, “What Alcohol Does to Your Body, Brain & Health” Allen Carr 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 3:29 Barbara's background & discovering FIRE 8:58 Water-saving tips 14:08 Decision to quit alcohol 19:54 Health benefits of quitting alcohol 26:09 Starting an e-commerce business 35:39 Impact of quitting alcohol 39:55 Triggers & tips to break alcohol habits 43:54 The power of community in sobriety 49:06 Soundcheck - Coffee vs. Mountain Dew

Carl and Doug unpack the pursuit of happiness and the winding road to early retirement.  From life's unexpected twists to the importance of relationships beyond the balance sheet, they explore what it really means to live a fulfilling life post-FIRE.  Listen-in for a blend of finance, philosophy, and insights, all served up with a side of personal stories & anecdotes. Note: This is a rebroadcast of MHFI Episode 006 and 088.  Do we contribute to your happiness?  If so, come support us over at Buy Me A Coffee. Links 1500 Days to Freedom, “7 Thoughts On Happiness: Part 1” 1500 Days to Freedom, “Happiness Series Part 2: Five Big-Ass Spending Experiments” 1500 Days to Freedom, “Happiness Part 3: Deep Contentment Is The Goal” Mr. Money Mustache JD Roth Tim Ferriss Tim Ferriss, “The 4-Hour Workweek” Tim Ferriss Podcast, “Rolf Potts - The Vagabond’s Way” Naval Ravikant Rolf Potts, “Vagabonding” FI Chautauqua Sonja Lyubomirsky Joe Rogan Experience, “1961-Peter Attia” Mark Manson, “The Subtle Art of Not Giving a F*ck” Wait But Why, “Taming the Mammoth” Living a FI, “The 2021 Early-Retirement Update" ChooseFI Local Groups CampFI 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 5:35 Thoughts on happiness 11:03 The science behind happiness 20:52 Pleasure, meaning, and challenges 24:35 Doug & Carl’s happiness histories 34:15 What did not lead to happiness 40:56 Happy times 47:43 Power of community 54:37 FIRE unhappiness 59:44 Easing into retirement 1:07:36 Self-doubt & purpose 1:15:33 Flexibility, sabbaticals, and career shifts 1:23:29 Advice for FIRE & happiness 1:35:44 Rapid-fire personal questions

Doug and Carl answer questions from the Facebook mailbag. Sam: How important were the live-in flips and other real estate ventures that you and Mindy got into impact your success and overall net worth? Patrick: With all of Carl’s DIY experience, what house projects would he now hire out (like flooring, tile, drywall, or bathroom remodels) instead of spending the time doing it yourself? Lauren: Want to know the opinions of relocating from a low cost-of-living-area to a high cost-of-living-area to be closer to outdoor activities that you love and find a community you identify with.  Should someone do it and what tips do you have? Hallie: Has Doug tried Melanzana’s Wind Pro Sweatpants? Claudia: How would you do Roth conversions when you have a mix of 401k, IRA, a Roth IRA, and brokerage account?  How do you convert when you’re still working, but you’re going to retire soon and you want to minimize taxes now but also in the future?  (Approx 3 years from retirement) Do you have a burning question that you'd like answered?  Come join the Mile High FI Facebook group or come support us over at Buy Me A Coffee. Links 1500 Days Post, "How to Successfully Flip Homes For Fun and Profit" South Park, “You Call the Handyman” Paula Pant/Afford Anything Ramit Sethi, “Why I Don’t Own a House as a Multi-Millionaire” FinCon CampFI Maggie Tucker/Inside Out Money Downshift Financial 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 1:08 Question 1: Importance of live-in flips 9:40 Question 2: DIY vs. hiring out 14:37 Tips for finding contractors 19:02 Concerts & recent activities 30:25 Question 3: Relocating to a high cost-of-living area 37:44 Question 4: Melanzana sweatpants 40:04 Question 5: Roth conversions 45:10 Flexible buckets to draw from 53:40 Soundcheck - Melanzana

Join Carl and Doug as they share practical travel tips such as the benefits of TSA Pre-check, understanding ideal travel lengths, and the importance of downtime during vacations. They also share money-saving tips like using credit card benefits and the art of negotiating hotel fees. In the soundcheck Carl and Doug talk about their weekend in Breckenridge, savoring the snowy weather over beers and spirited book-writing sessions. Listener Question: What is your best travel tip? Do you love the Mile High FI podcast?  If so, travel hack your way over to Buy Me A Coffee to support the show. Help remember your travels by using the Canon Ivy 2 Mini Photo Printer.  You can purchase your own printer at Amazon. Links EconoMe Conference CampFI Google Flights Kristen Cornett 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 6:49 Travel year-in-review 12:04 Travel logistics & packing 20:00 Ideal trip length 24:26 Food & meal planning 30:02 Staying in prime locations & commuting options 36:50 Money saving tips 40:51 Airline and credit card hacks 48:49 Making the most of your travel experience 52:54 Remembering your travels 58:31 Don’t over-plan 01:07:12 Soundcheck - Breckenridge