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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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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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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What You Need to Know About Financial Advisors with Chris Mamula

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:

  1. Why would someone who theoretically doesn’t need to work begin a new career?
  2.  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.

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Brent Barghahn: Real Estate Investing and the Future of Home Ownership

Today on episode 59 I’m pleased to host Brent Barghahn, a 29-year-old elite climber who used real estate investment as a way to effectively “retire” from his career as an engineer in the outdoor industry in his late twenties.

Brent and I discussed a fascinating reality on the idea of dream jobs, the growing trend of short-duration careers (and what that means for society), and of course many details on Brent’s path to financial strength and community building through his preferred method of real estate investment. Of course, though, I wanted to discuss the stark differences in today’s high interest rate and sky-high price environment, which has changed markedly in the last year. It begs the question: can someone still be successful as a real estate investor today? I have my concerns, so we aired out some of them in today’s episode.

Finally, we take an interesting look at the realities of full-time climbing and why Brent has found he needs more. Also, Brent and I admittedly harbor negative sentiments on the world of social media, especially in climbing. What narratives and stories are being missed by the modern form of shallow media consumption?

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QA10: Bear Markets and Bank Failures

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

For this week:

  • Are new investors part of an “unlucky cohort” that won’t achieve financial independence in the often-cited timelines?
  • Is it worth it to hire a tax professional? And if so, how should I find one?
  • Can you help me understand all these confusing public sector retirement accounts?
  • Should I do a Roth conversion now or just make a contribution to a Roth IRA?
  • Thoughts on the recent bank runs and instability in financial markets
  • So much more!
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