When faced with a significant financial change, it is crucial to evaluate expenses by comparing past and current spending habits. By prioritizing expenses based on what matters most, such as enjoying wine country experiences, and cutting back on non-essential expenses like frequent dining out, one can successfully adapt to new financial circumstances and maintain a healthy financial balance.
Things have changed: attitudes, spending habits, withdrawal rates, what we’ve chosen to reveal to family and friends. In this episode, we discuss how our early FI goals and calculations underestimated today’s needs and move beyond the math of financial independence to discuss the psychological aspects, including important conversations with family and friends. These discussions can be challenging and touch on deep-seated ideas about money, entitlement, and often guilt. It's common to overlook the importance of these conversations and this side of FIRE when you're focused on the financial side. Join us as we explore these areas and more in this second episode focused on the math of financial independence.
For show notes and resources please check out our website: https://twosidesoffi.com/