Mile High FI Podcast

In this episode, we talk to Steve, who recruited us to chime in on whether he is ready to retire. His net worth sits at about $1.7 million, including $30k in a college fund, $760k in brokerage accounts, $1.4 million in real estate, with about $900k in equity. He has eight rental properties that cash flow about $1,000 a month. Is he ready to pull the trigger? We go through his concerns and all the details.

We explored a few things we get super frugal about, and discussed the limits of what we’ll buy used and what we won’t.

Joe Saul-Sehy from the Stacking Benjamins Podcast stopped by to promote his new book: Stacked, Your Super-Serious Guide to Modern Money Management. Here are a few highlights of our discussion: Dopamine and consumerism What makes Joe’s book unique in the FI space Why money is just the first step What is Joe’s perfect day? Why the FI space is actually NOT saturated Why Joe wrote the book Check Out Joe’s Book! Joe’s Podcast: Stacking Benjamins

Doug has a theory about how to make travel more enjoyable. Why vacations tire us out Dopamine overload? Stacking rewards Jocko Podcast 332: Andrew Huberman. Influence/ Ownership Over Your Physiological Psychological Being Huberman Lab

Doug and Carl interview hospice physician Jordan Grumet about what we can learn from the dying. How Jordan learned about FIRE How a Camp FI changed Jordan’s life Jordan’s journey from Physician to Communicator What is YOUR true identity? What we can learn from the dying The Earn & Invest Podcast Taking Stock by Jordan Grumet Available 8/02 Ulysses Press: Official Book Trailer https://www.whitecoatinvestor.com/

The market is down over 21% so far this year, so it seems like a good time to talk about how we track our net worth! We also talk tracking expenses and nerd out about spreadsheets. The Jensen Family Spending Spreadsheet

Doug and Carl discuss recent travels to San Diego and Germany. Carl’s trip to Germany Would you like to touch my monkey? Mutant asparagus and sauerkraut madness Efficiency Doug goes to San Diego The “no car” experiment The local beer scene Doug and Carl want to live in San Diego Links sprockets germany’s most disturbing videos https://www.instagram.com/braeugier/ All You Need To Know for Financial Independence (FI) – Fiology

We check in on our fitness goals! Carl’s recent 5K How vacation affects your fitness goals Carl loves bread Getting back on track   Episode About Carl’s Home Purchase

Doug and Carl talk to local FIREy friend Arik Peterson, the Grim Reaper of Mutual Funds. Arik’s job working for the Dark Side (AKA: why mutual funds suck!) How Arik discovered FIRE Why a big pile of cash will empower you Why some people don’t have one true calling SEPP basics and planning Links Live long Live often Animal Spirits Podcast Mile High FI — A Financial Independence and Lifestyle Podcast Network Mile High FI Podcast

Guest host Amberly Grant stopped by to talk about her journaling practice. We discussed travel journals, finance journals, and tips for people to get started journaling.

Will a life of FIRE lead to happiness? Maybe. But it’s not what you think. In this episode, Carl and Doug talk about what makes humans happy, how FIRE will (or will not lead to happiness), and the tumultuous tale of an early retiree.

It’s officially college week here at the Mile High FI pod. After last Tuesday’s episode with Amberly Grant about whether college is worth it, this week we’re kicking around whether we’d go back to school as adults. Guest host Carla Cash of the Pennies and Popcorn podcast stopped by to discuss. A few highlights of our discussion include: What did Doug and Carla like or dislike about college? What considerations would we think about in deciding whether to go back? The stigma of not going to college Our advice for young people considering college Checking with your employer for help paying for school Links: Pennies and Popcorn: Willy Wonka & The Chocolate Factory – Childhood Jobs and the Value of a Lifetime Supply of Chocolate Pennies and Popcorn: Crazy Ex-Girlfriend – Finance Trackers are the Best Decision Ever, But … Is Law School The Worst?

Guest host Amberly Grant stopped by to talk about academia and whether college is still worth it today. Here are a few highlights of our discussion: Doug’s and Amberly’s college experiences The cost of college today Americans’ emotional attachment to the “college experience” How much student loan debt is reasonable to graduate with Life without college Whether college will cost less if classes go virtual

The FIRE Movement is fraught with misunderstanding and confusion. In this episode, Carl and Doug talk about some of the misconceptions around FIRE.

Doug and Carl interview FIoneer Jessica about the slow path to retirement. How Jessica got on board with FIRE Is Coast FIRE the right way? The way we work is changing Designing a life you don’t to retire from Why the journey should be as remarkable as the destination Links The Fioneers Avoid the “Death March” to Financial Independence thefioneers https://www.instagram.com/thefioneers/

Doug talks to Carl about a big and somewhat spontaneous purchase: another house! How Carl found a good deal in a crazy market What Carl is going to do with the house Why Carl isn’t going to fix this one up himself Are you in the area and want to help? Leave a comment on YouTube or send Carl an email: [email protected] Links Mile High FI Podcast Mile High FI — A Financial Independence and Lifestyle Podcast Network

In this mailbag episode, we tackle: Owning blue-chip stocks Owning tech stocks Rental real estate and why Doug shies away from it Carl’s experience with a rowing machine Much more! Links: The Simple Path to Wealth | JL Collins | MHFi 002 JL Collins Live Q&A @ Mr. Money Mustache HQ | MHFi 040 When Real Estate Investing Goes Terribly Wrong with JL Collins | MHFi 032 Freakonomics on Real-Estate Agents

What were our goals with the podcast? Has Carl accomplished his? What about Doug? Is Mile High FI the best use of our time?

Big NEWS! Doug and Carl welcome The Rebel Entrepreneur, Alan Donegan to the Mile High FI Network! The background of Rebel Entrepreneur Why Carl and Doug want to work with Alan The Rebel Entrepreneur business model Success is proportional to discomfort

Stocks are down, especially tech stocks. Doug and Carl talk about their feelings and how they cope with losing money. ____ Join the Mile High FI Club – It’s our email list! **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: [email protected] or [email protected]

Doug and Carl interview friend, neighbor, and FI enthusiast, Jake Simon. Investing – Why “Take Carl to Work Day” isn’t happening, despite Carl’s best efforts – How Jake overcame his fear of investing – Rental properties versus stocks – Leverage (Carl’s favorite topic!) Health – Jake’s routine – Longs Peak – Apple Watch – Sleep Links: FiDilettante Mad Fientist – Financial Independence and Early Retirement ____ Join the Mile High FI Club – It’s our email list! **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: [email protected] or [email protected]

We’ve got a guest host this week! Carla Cash is the co-host of one of our in-network pods, Pennies and Popcorn. She stopped by to talk about the pros and cons of sabbaticals and whether to prioritize mini-retirements or full-blown early retirement. Here are a few highlights; Working for short bursts to fund an adventurous life Balancing a seize-the-day mentality with long-term needs A tangent into the cost of used pianos and guitars How long it takes to decompress after leaving a stressful job Are we launching a Mile High FI MLM??? Links: Pennies and Popcorn: LuLaRich Part 1: MLMS are Worst Than Gambling and Ten Side Hustles to Do Instead LulaRich Part 2: MLMs: All The Bad Parts of Work Rolled Into One!

Doug and Carl interview Kyle Landis-Marinello, an all-around good human who likes Crocs. A lot. DIY suit jacket cleaning that did not go well Kyle’s dad is brilliant, just not with money Giving up big law money to do good Arguing a case in front of the Vermont Supreme Court in Crocs Socially responsible investing Kyle wrote a book Perfect day Links https://personalfinanceauthor.com/ pfauthor Sustainable investing funds| Environmental, Social, and Governance | Fidelity Spreading Financial Wellness | Brian Feroldi

This week, we are rebroadcasting one of our all-time favorite episodes with the undisputed king of the FI movement: Mr. Money Mustache. This episode is a recording of a Q&A that took place at The Extraordinary Event put on by Alan Donegan! The Q&A covered a range of topics, but here are a few highlights: When Pete started Mr. Money Mustache, did he expect it would be the phenomenon that it is? Alan, Carl, and Pete discuss what’s next for them Morning routines (or lack thereof) Internal barriers to FI Is the prospect of making money still motivating? How to convince a partner to get on board with FI Surprises about FI life Links: Mr. Money Mustache Headquarters Katie and Alan Donegan’s Many Enterprises: Rebel Finance School Rebel Business School Alan Donegan’s Podcast Alan Donegan’s Blog

Doug and Carl talk to Emily and James from Rethink The Rat Race. The conversation starts when James and Carl remember the time they were accosted in Washington DC … James’ difficult childood Owning 5 cars. Simultaneously. How James discovered FI and then brought Emily onboard Why FI people may be healthier James’ and Emily’s new book: “The Dog Food Diet” Long versus short-term rentals The fast road to FI Why FI evangelism doesn’t work James’ and Emily’s perfect day Links Rethink the Rat Race https://www.instagram.com/rethinktheratrace/ Home – Peter Attia Camp FI Confessions Of A Frugal Millionaire – Root of Good

Doug and Carl discuss what they would do if they had 6 months of free time with no obligations. The show has an exciting new sponsor!

Live from CampFi Southeast, Doug and Maggie Tucker talk to several guests. We did mini-interviews with a number of CampFi Southeast attendees and learned about their journeys to FI and got some pretty good insights. Here are a few highlights: Why going to vocational school can be a fantastic choice Living for the present and not the future Getting a spouse on board with FI Living full time on the road The psychology of the first six months after leaving a job Links: friends on FIRE – Podcast on Financial Independence Retire Early Camp FI

This is the tale of The Day That Carl Forgot His Phone. Here are a few highlights: He had to ask for directions! Mindy got mad at him! But, at the same time, he realized how much he hates phones! Would he do it again strategically?

Doug and Carl talk to “Lewis” and “Clark,” a couple on the verge of early retirement. In this first-ever case study, they discuss how to successfully transition and live the FIRE life. Here are a few highlights of our discussion: Setting priorities Finding purpose The value of routines Why you shouldn’t tell your friends about FIRE How to manage relationships Finding identity ____   Links Financial Advisor for Early Retirement – Downshift Financial The Margin Loan: How to Make a $400,000 Impulse Purchase Ratcheting The Safe Withdrawal Rate For Income Upside Camp FI

We talked about our own morning routines, what works for us, and what doesn’t. Here are a few highlights: Wake-up time Working out in the morning Do we meditate? Will making the bed in the morning change your life? Is there one perfect morning routine for everybody? ____ ____ Links Doug.Show Podcast 1500 Days to Freedom – Think different and escape the rat race.

We had a great sit-down with Diania and Maggie at Camp FI and fielded some fun and off-the-wall questions from the audience. Here are a few highlights: What pursuits have been most fulfilling for you? What is your side-hustle exit plan? Getting started on YouTube Getting started with a podcast and overcoming the fear of being one of many Do you believe in the four-percent rule? What do you know now that you wish you knew ten years ago? What equipment do you use? How much liquid cash is too much? Decompressing after leaving work Keep an eye and ear open for the other episode from Camp FI coming out in a couple of weeks. Links: Friends on FIRE – Podcast on Financial Independence Retire Early EconoMe Conference – March 2023 Optimal Finance Daily Podcast ____ ____

Carl traveled to wonderful Austin, TX for the Tesla factory opening. Doug asks him all about it. They welcome in a NEW sponsor! Carl’s Cyber Rodeo YouTube Video Cyber Rodeo Blog Post on 1500 Days ____ ____

Doug and Carl talk to Brian Feroldi about growth investing, volatility, and Brian’s new book. Investing – What advice would you give to a 22-year-old? – Brian’s investments – Great investors including the OG of FIRE – Growth investing: qualitative versus quantitative measures Brian’s book – Why write a book? – Another investing book? Why this one is different. – Who should read this? Closing – Brian’s perfect day – Why walking is so good ____ Links https://www.brianferoldi.com/ https://www.youtube.com/channel/UCs60_Z83HU76uygzHRQl0kA https://twitter.com/BrianFeroldi https://www.amazon.com/Why-Does-Stock-Market-Everything-ebook/dp/B09NQQKZ9G/ https://economeconference.com/

Carl and Doug talk about what car they would get if they had to buy something. It’s just a thought experiment since neither of them plan on getting a car in the near term.   ____  

Doug and Carl talk to Brittany Dunn about exercise, diet, accountability, and finding inner peace at Sam’s Club. How Brittany’s 4-hour commute triggered a 7-year move to Beijing Body composition (why BMI is evil!) Carl’s fitness routine H.I.I.T. versus steady-state cardio How to stay fit for life Links Brittany’s Site Brittany on Instagram Ben Greenfield Life – Diet, Fat Loss and Performance Advice ____  

Checking in and updating on our fitness goals. We talk about accountability partners, pull-ups, watching our proteins, and just generally checking in to track our progress. We hope this inspires you to get out there and make positive changes! ____

Doug and Carl host another mailbag episode. An innocent conversation about investing devolved into lots of butt talk … Doug doesn’t contribute to tax-advantaged accounts. Is he wrong? Is it ever too late to switch over to Vanguard and index funds? What is the draw-down process like in retirement? Finally, Doug and Carl talk about recent purchases including a bidet … ____ ____ Links https://radicalpersonalfinance.libsyn.com/314-how-you-can-get-more-money-for-early-retirement-by-using-an-ira-or-401k-even-if-you-have-to-pay-the-10-penalty The Podcast for Location Independent Entrepreneurs The DC: Global Events & Meetups for Location Independent Entrepreneurs BitLift Your Wingman Down The Crypto Rabbit Hole

Doug and Carl talk about how much money is needed to quit. How Carl got his number way wrong The purpose of the 4% rule Bad sequence returns early in retirement aren’t the end of the world Doug and Carl discuss what they’re up to Links FIRE and The 4% Rule | MHFi 003 cFIREsim ____ ____

Doug and Carl interview Diane Hirschorn, a former money manager to the rich and famous. Financial goals of the rich The sad story about the lady who died with infinite wealth, but no friends How you can live on Pebble Beach in a massive estate with a 4,000 square foot personal gym on your property, and still be jealous of your neighbors Diane meets Jack Bogle Links Home | My Site 1 Diane Hirschhorn Bogleheads Investing Advice and Info ____ ____

Doug and Carl talk about what it means to be a “satisficer” – that’s not a typo! – versus an optimizer or maximizer. What does “satisficer” mean? What are the benefits of being either one? How do we identify? Is one better than the other? What we strive for ____ ____

Carl interviews Doug Cunnington. Brace yourselves, Carl probes deep! Young Doug Money – Money teachings & Biggest money mistake – Frugal? Professional – Lawn care business – University – Doug’s life now Deep thoughts – Finding beauty in daily existence – Inspiration – A perfect day ____ ____

Doug and Carl talk about the differences between achieving goals through motivation, discipline, and habits. Should you wait around for motivation to hit? How fickle motivation is How to create good habits and get “back on the wagon” after you deviate Start with something easy and take the pressure off yourself The power of just showing up ____

Doug and Carl bring back Eddie and Travis, fee-only financial advisors from Downshift Financial to discuss recent market upheaval. Volatility in 2022! How to get your mind right in a downturn Carl’s Tesla shares Portfolio Theory Sequence of Returns How to behave in a correction Links Financial Advisor for Early Retirement – Downshift Financial   ____

Doug and Carl complain about not complaining. Kind of. Tim Ferriss’s no-complaint experiment Complainy Carl How Doug trained himself the art of not complaining How to deal with complainy people Links Real Mind Control: The 21-Day No-Complaint Experiment ____

Doug and Carl talk to Vivi Ton who made bold moves in life including quitting a lucrative engineering job. Vivi’s toxic work environment Leaving an engineering job to become a freelancer Unhappy parents Why aren’t engineers happy at work? Therapy The FIRE community Links Vivi on Instagram Personal Finance Club The Personal Finance Club Course: BUILD WEALTH BY INVESTING IN INDEX FUNDS (affiliate link! thanks for the support. It’s a great gift.) EconoMe Conference ____

Doug and Carl talk about black swans. (The unpredictable event; not the animal!) The Marshall Fire What is a black swan? How to prepare What Carl and Doug did with their investments during the Great Recession Doug’s upcoming speaking engagement Links: CampFI Southeast ____

Doug and Carl interview Chris and Deb from the Go Bucket Yourself podcast and blog. Recent adventures including pooping in the woods Why Chris and Deb started Go Bucket Yourself How to help others live their best life Limiting beliefs versus adventure How challenges make us better Out of state real estate investing Connection, growth, and adventure A perfect day Links Go Bucket Yourself Bigger Pockets Money Chris on Instagram Debbie on Instagram The Other Side of Perfect Obstacle is the Way Rich Dad, Poor Dad ____ ____

Doug interviews Carl. It was originally recorded in early 2020 for Doug’s podcast. So you’ll get to hear one of the first long conversations they ever had. ____ ____

Doug and Carl talk to Bill and Jon from The Fire Guild about health care for early retirees. Medical options for early retirees: COBRA, ACA, geo-arbitrage, health care sharing Health care sharing defined Health care sharing versus insurance Is health care sharing good for society? ____ Links: The Fire Guild: Home Homepage – RIP Medical Debt Transparency regulations: Health Plan Price Transparency | CMS No Surprises Act: No Surprises Act | CMS

Is there such a thing as a good job? Some are definitely better than others! We examine what a good job would look like for someone just starting out in life, and someone farther down the path. ____