Four Years of Financial Independence: The Slow Growth

For four years I’ve watched something slowly bloom. In my old life, the “before time” you might call it, I moved from task to task. If I wasn’t working, I unknowingly made a practice of turning recreational or hobbyist pursuits into something that, from an outsider’s perspective, looked an awful lot like work. Goals and accolades were everything, and the more quantifiable, the better. But the farther I’ve separated myself from this life in space and time, the more clarity I’ve gained. 

Grasping for metaphors, I was tempted to explain this budding awareness as a slowly growing flower. But for perhaps all the wrong reasons, I hesitated to describe my growth and awareness as floral, preferring to drop the metaphor. But I can’t quite shake it, because I have watched something slowly grow. It’s not me that has bloomed–again, all the wrong imagery–but it is the world I could not see then. I could not see the flawed logic buried in the cold and wet earth because I identified with it. It was my life, so I could not reject what protected me. And four years later I’ve watched something slowly take root.

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QA12: Will A Life Of Financial Independence Meet Expectations?

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

For this week:

  • An update on markets and our personal finance situation
  • The role of dividends in growth and withdrawal assumptions
  • Expectations vs reality on a life of financial independence
  • Our experience with health insurance without employer-sponsored plans
  • Real estate investing: an update on our experiences and economics as remote landlords
  • Health insurance considerations for long-term travel
  • Short- to medium-term savings goals (like a house) versus saving for retirement
  • Loss of purpose without a traditional job
  • So much more!
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Facing the Rest of the World with a Nontraditional Lifestyle

When I left my corporate career in early 2020, I didn’t fully understand the ways that I would, in later years, slowly become decoupled and desynchronized from a society that values hustle, status, and self-worth generated to a large degree around our career titles. You’ll read the same thing repeatedly on the internet: Ignore the haters, do your thing.

But when I actually sit down and talk with those who are living a similar nontraditional lifestyle, regardless of their financial position, I find that the tidy internet talking points leave many of us dissatisfied. After all, humans are one of the most social species on the planet. We shouldn’t be surprised by the difficulty in overriding instinct, to go against the grain of what the herd values most. My thinking has evolved dramatically on this subject in recent years, so let’s dig in.

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“The Rewards of Being in One Place for a While” (Meghan Walker and Callan Cooper)

By popular demand, I’ve decided to extend a travel series centered around the topic of building community or maintaining our need for social interactions when away from home. Community building is especially complicated when abroad, where cultures and languages vary considerably from our own. My guests today, veteran travelers with considerable expat experiences, are perfectly suited to discuss this topic.

Meghan Walker, a previous guest who writes at awaytofi.com, spent many of her formative years living abroad in Kenya and New Zealand. Her husband, Callan Cooper, is an expat living in the United States from New Zealand, where they met. Meghan and Callan joined me in my home in Colorado for a rare in-person interview, where we discussed in detail the beauty and challenges of international extended travel, careers, evolving travel philosophies, and financial tactics that can have you living a similar life much sooner than you think.

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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!
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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.

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Mike Piper: Down To The Essence Of Smart Money Management

Mike Piper is a CPA and the creator of the Oblivious Investor blog, where he teaches a philosophy of simple and low-maintenance investing.

Mike’s simple philosophy distills down to three primary principles:

  1. Diversify your portfolio
  2. Minimize costs (commissions, fees, mutual fund expenses, taxes)
  3. Ignore the noise.

Mike began his career as a CPA before realizing he could support himself by writing books. Surprisingly, he left his secure job during the 2008 financial crisis. He has gone on to publish seventeen books and is widely considered an expert in social security, tax, and a number of other personal finance topics. His work has been featured in the Wall Street Journal, Forbes, and Morningstar, to name a few.

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Six Important Reasons to Reconsider Early Retirement

Today on episode 65 I’m revisiting a post published almost exactly two years ago. At the time of writing, I’d been away from my corporate job for eighteen months. I spent six months of that time living in a tiny A-frame camper with my wife and dog before resettling in the St. George, Utah area.

I was climbing a lot and working on this website, but I can now comfortably admit that I was in a bit of a low spot in terms of overall life satisfaction. The issue was one of expectations. In other words, I expected too much about a life without my career and I took for granted elements of my work life that enhanced life satisfaction. I was feeling stale with this project—I wouldn’t start the podcast until late summer—and despite having all the time in the world to dedicate to the craft of climbing, I was slowly coming to the realization that I’d used climbing as an attempt to fill a void that was not yet clearly defined or outlined.

Two years later, I’ve spent considerable time addressing each of the areas discussed in this post, to varying degrees of success. Stay tuned in the coming weeks and months for other changes still ongoing.

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Jeff and Priti Wright: You Might Need a Sabbatical

Today on episode 64 I’m excited to welcome Priti and Jeff Wright, two accomplished young professional alpinists from Seattle, WA. In 2020, Priti, a software developer, and Jeff, a mechanical engineer at Boeing, embarked on a year-long sabbatical to travel across the globe and climb alpine objectives in Patagonia, France, and Pakistan, finishing by the beach in Hawaii.

The trip was wildly successful, even amid the raging pandemic, including ascents of the Cerro Torre, the six classic North Faces of the Alps in a single season (including the Eiger North Face in winter), culminating in the first ascent of K6 Central and the third ascent of K6 West—both 7000+-meter peaks—in the Karakoram Range of Pakistan.

In contrast to early retirement, Priti and Jeff make the compelling case for a traditional career peppered with sabbaticals. This episode is filled with lifestyle and career philosophy, planning concepts, detailed financial considerations, and just a damn good time. And they are even planning their next sabbatical in 2024, which will look drastically different than their trip in 2020. You won’t want to miss this one.

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Heather Larsen: Risk And Reward In Outdoor Careers

Today on episode 61 I’m pleased to welcome Heather Larsen, pro slackliner and climber and lover of southern Utah’s desert heat. What is probably less known about Heather is that, following humble beginnings, she graduated at the height of the Great Recession with a double major in finance and economics.

In the intervening years, she struggled greatly to find work in her field, even competing for bank teller jobs with 20-year finance veterans. Out west she found work in seasonal park service positions, growing more and more fond of the outdoors, eventually discovering climbing and slacklining.

Heather could have easily fallen into a mindset of defeat. But with persistence, she was eventually able to secure a career in financial reporting, enabling her preferred lifestyle balance of elite outdoor adventure and self-made financial security.

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