CLIPPING CHAINS

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 10, 2018December 22, 2018

Building Something with Justin Brown (Rhino Skin Solutions)

When it comes to climbing, skin is the interface between you and the rock. Climbers don’t wear gloves. Well, crack climbers sort of wear gloves, but that’s another story. For the rest of us, the condition of our skin can mean the difference between success and failure. Justin Brown has made the condition of your hands his business.

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 26, 2018December 17, 2019

Power Company Climbing: Training Plan Review

Power Company Training Review Title Image

This article is a completely unsolicited review. No one at Power Company asked for my feedback, and frankly, they may not want it. I paid full price for their Custom Training Plan, and there are no imbedded affiliate links in this article.

Training for climbing has many parallels to pursuing financial independence: You can hit the low-hanging fruit and see huge gains early on, but then it’s a game of stacking small short-term gains for long-term growth.

If you’ve been following this site, you know by now that we are very intentional about our spending. After watching from the sidelines for several years, I recently jumped on board a personalized training plan with Power Company Climbing. Here’s what I thought…

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.

October 22, 2018November 29, 2018

Holier Than Thou: Why It’s Hard to Talk About Money

Discussing finances in America is about as appealing as using a rotary tool to cut your over-thickened and rotted toenails. I’ve never done that and my toenails are blue ribbon winners, but it sounds unappealing.

We’ve struggled over the past few years with sharing this major shift in our lives and what it means for our futures. One of the primary reasons for starting this site was to provide a platform to more deeply explain our philosophy and financial strategy, because frankly nobody wants to talk about money.

October 15, 2018October 24, 2019

We Lost Thousands of Dollars in the Stock Market, and That’s Okay.

The middle of October has been a wild ride for investors, with a drop of over 5% in the S&P 500 over two days, October 10th and 11th. Friday’s rally (October 12) offered a bit of a bounce-back, but much uncertainty remains regarding the near future of the United States economy. Our net worth took a hefty ding in just two days, so why bother with this stuff?

This week we’re going to step away from all that soft touchy-feely philosophical stuff and take a more technical look at investing and the psychology of betting your future on the stock market. Sound scary? It can be.