CLIPPING CHAINS

November 20, 2023November 18, 2023

The Social Dilemma of Extended Travel (Jeff, A Way to FI)

In October I published a mini episode on my thought processes on the pros and cons of extended travel abroad. Many of you left comments or emailed me your thoughts, and I’m so thankful for your input. You’ve all given me plenty to consider. One of the most insightful emails came from Jeff of awaytofi.com, a previous guest on this podcast (Episode 44). Jeff has been living abroad for over fifteen months with his wife, Rose, and as such is well-versed in discussing the impacts of extended travel, particularly on our social lives. This week’s episode is an in-depth exploration of extended travel, especially as it relates to our human need for a sense of place and community. Travel takes us away from our tribe, so how do we create new ones? Do we even need to? You can probably expect more content like this with upcoming guests and articles.

November 6, 2023November 5, 2023

Uncertainty Is Forever (And That’s Good News)

Uncertainty is a fact of life, yet we yearn for known outcomes. Every day we make decisions. Some decisions are small and inconsequential, while others are profound and life-altering. Sometimes events happen regardless of our decisions. And above it all and looming like a nervous wind is uncertainty. Uncertainty is forever.

But those who learn to sit with and embrace uncertainty are resilient and innovative. Those who try to fight uncertainty spend more money and live with less contentment.

October 23, 2023October 22, 2023

James McHaffie: From Bold Climbing to Novel Writing

James McHaffie needs no introduction, at least in the United Kingdom. His approach to bold onsight climbing, particularly free solos, is unparalleled. He’s repeated the hardest sport climb in Wales, Big Bang (9a), sent Britain’s hardest sea cliff, Dave MacLeod’s The Longhope Direct (E10 7a), and made the first ascent of The Meltdown, a 9a slab in the slate quarries of his home in North Wales. And now he’s written a book. But unlike many books released by elite climbers, this is not an autobiographical account of hard climbs in the face of relative adversity. Caff, as he prefers to be called, has written a fictional account of Eleri, a young woman amongst the slate quarries of North Wales who in the aftermath of a family suicide takes aim at British politicians who pushed for austerity and the conditions that led to such suffering.

This conversation was such a gift. I can see even through all that rage that James is brimming with humanity, a trait sometimes in short supply. I hope you’ll enjoy this one as much as I did.

October 16, 2023October 15, 2023

Mini Episode: Is the Best Life Lived at Home?

Years ago, we decided to one day try living abroad for at least a year. We always loved traveling and also always felt that we never had enough time to truly experience a place beyond the superficial. I wanted to stay for a while, learn the language, and slowly morph into a new life mode. But now I’m starting to question the wisdom of this decision. Is living abroad a bad idea?

October 9, 2023October 8, 2023

An Ode to the Road Trip

This is a bit unusual, but why not? Here’s my love letter to the road trip.

October 2, 2023October 2, 2023

The Problem with Bucket Lists and How to Be Happy with Less

It’s often said that happiness equals what you have minus (or sometimes divided by) what you want. When our wants are many, what we have is of little consequence. That is why there are hordes of unhappy millionaires and high achievers who quietly suffer (yes, suffer) under the weight of lofty and insatiable desires and ambitions. Western ideals place great importance on the “haves.” And despite an anecdotal feeling that my greater social circle is less materialistic, I’m less certain that we’ve diminished our appetite for having things. The things look and feel different. Less like fancy watches or cars or gaudy showings of riches and more like spreadsheets full of countries and crags unvisited, food not tasted, status not yet achieved, or routes not sent. We believe subconsciously or otherwise that by checking items off our bucket list we will arrive at some sense of blissful satisfaction. But biology and evolution suggest otherwise.

September 25, 2023September 24, 2023

Dr. Jim Dahle of the White Coat Investor on Building the Ideal Life

Jim Dahle is the founder of the White Coat Investor, a widely consumed personal finance and investing blog and podcast specifically designed for physicians and other high-income careers. What Jim created in 2011 as a simple blog has grown into a multi-media empire that now employs fifteen people and hosts content from a range of columnists.

Jim has cut back from his full-time (plus) emergency physician career and White Coat Investor responsibilities to focus on what makes life worth living, and that’s where I wanted to pick up this conversation. Jim is a climber, husband, and father of four. Today we discuss how he’s managed to step away, at least slightly, from his hard-charging career and blogging days to what he’s now describing as his ideal life.

September 11, 2023September 10, 2023

The Great American Student Loan Debt with Emma Crawford

In America, student loan debt has exploded over the last twenty years, with the average inflation-adjusted federal loan debt per student rising from under $29,000 in 2011 to nearly $40,000 in 2020. Students and their parents are paying an increasingly costly price for college education, outpacing growth in expected starting salaries.

After more than three years, loan payments are coming due again after the expiration of a Covid-era forbearance program put in place under President Trump and extended under President Biden. My guest today, Emma Crawford, is intimately familiar with student loans as both a borrower as well as a former university aid advisor, and now as a financial planner.

Emma Crawford is the former Director of Financial Wellness and Financial Aid Advising for the University of Wisconsin School of Medicine and Public Health. She holds the Certified Financial Planner (CFP) designation and is a fee-only financial planner for Perk Planning, based out of Madison, Wisconsin. Emma joins me on the show today to discuss the evolving and complicated world of student loans for the first two-thirds of the show. The final third of the interview is dedicated to discussing the equally convoluted world of financial planners and advisors. We discuss the nature of fee-only advising and who may find this type of service appropriate.

August 14, 2023January 19, 2024

QA11: Laying It Out in Simple Terms

We’re back to the digital mailbag to answer your questions!

For this week:

How has my lifestyle evolved since achieving financial independence and how do I spend my time?
Updated thoughts on money and markets
Are we putting too much faith in institutions like Vanguard?
Can and should life insurance policies be used for retirement savings?
Tax avoidance versus accepting higher tax rates
What is a Simple IRA and how does it differ from a 401(k)? Can I still do Roth conversions?
Savings rates are great! Should I pay less on my loans to maximize my savings?
Big picture: Where do I start on getting my financial life together?
Outreach and presentations
So much more!

July 31, 2023July 30, 2023

The One Time to Be Average with Dave Rosen

Dave Rosen is a climber and ophthalmologist in his final year of residency. And Dave grew up like so many of us: broadly exposed to the importance of money and taught a thing or two about saving, but investing was a foreign concept and his lack of knowledge was a source of shame.

While Dave skimmed over it, he’s no slouch as a climber. He has bagged a pile of double-digit boulder problems up to V12, sent 5.13c, and developed numerous boulder problems, particularly in the South Mountain area near Phoenix where he and his wife lived for medical school for four years. He is hard-working, analytical, and pragmatic in his career and life approach.

In this conversation, we discuss how Dave found climbing from the world of canyoneering, his early exposure to money and how that has markedly changed in recent years, the constant pull of greener grass, working backward from an ideal lifestyle, and the ethical and moral dilemmas of early retirement.