Oversaving Debate & Retiring to Something… Or Not – Kristen Knapp – Kristen Knapp | MHFI 311
Doug and Kristen Knapp (FI Friends Travel) dive into a listener-submitted topic from Dell regarding the potential benefits of oversaving. Doug & Kristen discuss the pros & cons of oversaving, the necessity of having a plan for “retiring to
Mile High FI Podcast · Doug Cunnington & Carl Jensen
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Show Notes
Doug and Kristen Knapp (FI Friends Travel) dive into a listener-submitted topic from Dell regarding the potential benefits of oversaving. Doug & Kristen discuss the pros & cons of oversaving, the necessity of having a plan for “retiring to something” after work, and explore the psychological shifts that occur when you no longer need a paycheck. They also tackle common traps in the FI community such as “One More Year Syndrome”, golden handcuffs, and identity issues tied to a career.
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Links
- FI Friends Travel
- ChooseFI local groups
- EconoMe Conference
- CampFI
- Mark Trautman/Mark’s Money Mind
- Kevin Sebesta on MHFI episode 302
- Morgan Housel, “The Art of Spending Money”
- Bill Perkins, “Die With Zero”
- MHFI Facebook group
- Doug’s site
- Check out Producer Chris’s blog: Epic Financial Journey
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**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.**
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0:00 Introduction
4:17 Dell’s voicemail
9:20 Pros of oversaving
17:14 Legacy vs. Die With Zero
20:59 Cons of oversaving
27:55 Golden handcuffs & “enough”
34:36 Retiring to something… or not
40:16 Identity struggles & FI
49:43 Staying busy vs. intentional boredom
56:50 Early retirement pitfalls
1:01:16 Only boring people are bored
1:05:47 The nuances of FI
1:12:02 Longest soundcheck ever