Financial Independence Archives - Page 16 of 17

January 28, 2019May 4, 2019

Dogs and Your Money: An Ode to Man’s Best Friend

The pursuit of financial independence is a pursuit of happiness. Money is not the goal. Money is the vehicle that allows for a life centered around happiness. We write here about a philosophy centered around simple living and simple investing, but at the end of the day the entire goal is to provide more time to acquire true and meaningful fulfillment in our lives. Writing about this stuff often makes me feel like a bit of a used car salesman — convincing people to invest in stocks and open up credit cards — so I’m happy to take this opportunity to write more freely about, well, life. And dogs.

It’s very exciting to get wrapped up in all the ways to optimize, all the short-cuts and refinements, but I’m sometimes reminded of how quickly all the joys in life can be suddenly upended.

January 21, 2019August 9, 2021

Traveling Abroad: You’re Paying Too Much

Traveling abroad is an adventure that everyone should experience at some point in their lives. And I’m not talking about an all-inclusive stay in Cabo, where you’re shuttled from the airport and kept within the confines of a protected resort. I mean going to a place and living amongst the locals for at least a couple of weeks, stumbling through a foreign language, and learning first-hand what it feels like to be a minority.

January 7, 2019October 28, 2019

Five “Essentials” That Are Destroying Your Savings

Well folks, new year, new goals. Are you looking to increase your savings rate this year?

Are you really interested in saving? “No” is a completely acceptable answer, by the way. If you prefer to answer no, you can largely disregard what’s written below and carry on with a plan more suitable for you. We fully recognize that a frugal existence is not for everyone. We cool? Cool.

However, if you’re really interested in saving tens of thousands of dollars, it’s going to require not only change, but a complete re-framing of your lifestyle.

These sort of changes will require a degree of discomfort — whether it’s physical, social, or otherwise — until you become accustomed to a new normal. That’s the beauty of the human condition; we’re adaptable. Take it from us that perceived discomfort can, with time, result in a new-found appreciation for a more simple existence. And the benefits are not purely financial. Building a new life of simplicity brings the benefits of a difficult-to-describe feeling of place in the world. A place you’ve earned, not bought. If you trust us in that, let’s read on.

December 31, 2018December 30, 2018

Getting Down with Charlie “Brown”

Charlie is indeed his first name, but I playfully made up the “Brown” part. Isn’t that fun?! Charlie has asked to remain partially anonymous (as we do here), because he’s discussing some stuff that his bosses might not like. We get it — nothing says I want a big bonus this year like “save money, retire early, blah, blah” on the internet.

The real Charlie Brown is kind of a downer, but not this Charlie. He and his wife are gaming out their life, and that’s pretty cool.

December 17, 2018January 20, 2020

Five Ways to Recession-Proof Your Life

Market volatility and the potential for a recession is what gives the stock market a bad name, right? No silly, as we’ve discussed here, it’s really the investor’s psychology that gives the market a bad name. Because the market always goes up…eventually.

With the recent market volatility we’ve been seeing in late 2018, it feels timely to discuss the impacts of a recession on someone living off their investments. Even if you care zero about financial independence and investing, a recession could mean an abrupt cessation of your paycheck. Let’s strap on bullet-proof vests together!

December 3, 2018December 26, 2018

Keeping the “Safe” in Safe Withdrawal Rate

Musings on How We Plan to Live off our Money

The question we are asked the most about financial independence — and especially the “retire early” portion of the equation — is how we plan to live off the money we’ve saved and invested. Are we even going to retire early? What will we do with our time? What if the market goes down? Sorry, that’s more than one question, isn’t it? The first critical aspect to address in a post-FI life is the safe withdrawal rate. Let’s take a look…

Continue reading “Keeping the “Safe” in Safe Withdrawal Rate”

November 19, 2018December 22, 2018

Mark Anderson: Fully Optimized

Mark Anderson is more than just an impressive climber. He’s also the co-author of the wildly popular The Rock Climber’s Training Manual, a husband, a father of two young children, and a prolific route developer. Oh yeah, and he balances all of this with a full-time career completely independent of rock climbing. On top of all that, Mark and his wife are pursuing financial independence!

November 12, 2018January 22, 2022

Part 2: The CC Family Investing Strategy

Investing Strategy: Where Exactly is Our Money?

This is Part 2 in a series. Check out Part 1 for our investing strategy and asset allocation.

Now you have a sense of our investing strategy in terms of asset allocation, but that’s not helping you get started. Let’s take a look at some common investment “buckets” and how we are dividing out our investments.

It’s easy to get lost in the details, so let’s break it down to the basics right up front. No more paralysis by analysis. Below are our top five pillars of a sound investing strategy.

November 5, 2018January 22, 2022

Part 1: The CC Family Investing Strategy:

Philosophy and Asset Allocation

We’ve spoken now in shades of vagueness about our investments and investing strategy. We’re focused first and foremost on simply getting folks to save more. Begin with allocating the majority of your effort to increasing the gap between money in and money out. Slowly chip away, with a goal of spending less than half of your income. If you can make step-changes in this area, you are light years ahead of most Americans, and frankly most humans. So yeah, start there.

…We’re focused first and foremost on simply getting folks to save more.

The next element of this game is getting your new-found savings to start making money for you. Your traditional savings and checking accounts are not your friend. With an average interest rate on a typical savings account at 0.08% APY (!), your money is losing value over time as your courageous dollar fights a valiant, but fruitless battle against the tyrant forces of inflation (current inflation rate is around 2%). Remember, goods and services today will cost more next year. You either need more income or higher interest rates on your savings, just to keep up!

October 29, 2018December 8, 2018

In Pursuit of Passion: Chuck and Maggie Odette

For those unfamiliar with the climbing world, climbers — perhaps more than any other sport participants — routinely restructure their lives in very unconventional ways to pursue the sport more fully. As we’ve discussed here and here, in the U.S. at least, this usually means taking on an increasingly mobile existence — sans house/apartment/permanent dwelling — and instead living in a van, pull camper, or some other makeshift shelter on wheels.

Today we want to highlight Chuck and Maggie Odette, one of many climber couples living this lifestyle. What’s different though is that they’re sort of doing it all in reverse. Instead of hitting the road and blowing off traditional life in their 20’s or maybe 30’s, Chuck and Maggie are now in their 60’s and 40’s, respectively, and are incredibly talented climbers who have retired early to live the climbing life.