Today on episode 60 I’m pleased to welcome back Chris Mamula, who you may recall from episode 3. Chris is a writer, author, and partner at CanIRetireYet.com, who achieved financial independence at age 41 to pursue a life centered around family and the outdoors.
Beginning in early 2022, in search of a new challenge, Chris completed the education and exam necessary to become a Certified Financial Planner (CFP). Two questions emerge from this development:
- Why would someone who theoretically doesn’t need to work begin a new career?
- How can someone who harbors admittedly dogmatic views against the financial advice industry find a comfortable home working in this field?
Today we discuss the different kinds of financial advisors, the nature of complex incentives in professional financial advice, Chris’s recommended approach to choosing a financial advisor, and so much more about behavior, psychology, and the tangled emotions of money management.
Topics Discussed with Chris Mamula
- What is a CFP and who can be one?
- What is the fiduciary standard and how is “the client’s best interest” defined?
- The types of fee structures and the nature of incentives in the financial advise industry
- Chris’s recommended fee structure when choosing a financial advisor
- Why did Chris leave early retirement to pursue this career move?
- Financial coaches vs financial advisors: Who can give financial advice?
- Has this process changed Chris’s approach to his own personal finance?
- How Chris can reconcile being both against and part of the financial advice industry
- The commitments of time and money to being a CFP
- Conflict of interest issues as a financial blogger?
- What is needed more in financial planning: behavioral interventions or nuts and bolts financial advice?
- The psychology of switching from saving to spending: scarcity to abundance, relationship challenges
- How typical is it for early retirees to return to work or a second career?
- Paid vs volunteer work for purpose and fulfillment
- Thoughts on fear and risk management in the face of uncertainty
- Can you trust early retirement strategies when most FIRE bloggers are not actually retired?
- Did the FIRE movement only work for those who did the majority of their saving in the Great Bull Market?
- So much more!
Get in Touch with Chris Mamula
Chris’s previous podcast interview: EP 3: Chris Mamula: One Bite at a Time
Find Chris’s writing at CanIRetireYet.com
Chris provides financial advice at Abundo Wealth
Chris’s book (co-authored with Jonathan Mendonsa and Brad Barrett): ChooseFI: Your Blueprint to Financial Independence
My ChooseFI book review: ChooseFI Book Review: A Blueprint Indeed
Related Content
Is The Cost and Effort to Become a CFP Worth It? (CanIRetireYet)
Developing Systems To Conquer Your Early Retirement Fears (CanIRetireYet)
Darrow Kirkpatrick: Beyond Doubt on the Colorado Trail (Clipping Chains)
Books
The Coaching Habit: Say Less, Ask More & Change the Way You Lead Forever (Michael Bungay Stanier)
Scar Tissue (Anthony Kiedis, Larry Sloman)
Between Two Kingdoms: A Memoir of a Life Interrupted (Suleika Jaouad)
Towers Falling (Jewell Parker Rhodes)
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