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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Five Lessons from Three Years of Financial Independence

One evening, circa 2011, I sat over dinner with my future wife in our small and sweaty Houston, TX rented bungalow. I was and still am an occasional cheap bastard, so the air conditioning was almost certainly set to engage on an “as-needed” basis, far from anything resembling comfort. The concept of financial independence wasn’t on the radar.

During downtime at work—I told you I was distracted—I was scouring numerous free WordPress blogs documenting the travels of zealous climbing dirtbags. They were camping and climbing and making whatever money they needed along the way. People were even starting to live and travel in vans, something I associated with sixties and seventies surfer culture. I wanted that life.

At this point in my late twenties, I was maybe barely a year into my career as a geologist in the oil and gas industry. But I could see the writing on the wall—this would not and could not be my career for the next 35-40 years. In fact, at that moment, I couldn’t see myself lasting my target three to five years until I expected to return to school for a career in academia. And there was a new problem: I’d kind of grown obsessed with this new hobby of rock climbing.

Twelve years later, I finally found a very different path to a life of freedom, if such a thing even exists. After three years of financial independence, what follows are some key lessons I’ve learned along the way.

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Lee Cujes: No Free Lunch on the Life We Really Want

Today on episode 53 I’m pleased to welcome back Lee Cujes, this time as a podcast guest. Some of you may recall the written interview with Lee back in late 2020. Lee is an elite Australian climber and route developer, with multiple 5.13+ and 5.14 first ascents to his name. But most importantly as it relates to this platform, Lee has managed to climb and develop routes continuously while carving a unique career niche and embracing a long-term investing strategy, an approach that provides the ultimate work and life balance.

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Earning to Buy Time with Meghan and Jeff (A Way to FI)

Today’s guests on episode 44 are Meghan and Jeff, two Colorado climbers who are at very different positions on the spectrum of financial independence. Jeff achieved financial independence along with his wife, Rose, over four years ago. Meghan, along with her husband, were inspired to get serious about their personal finances after meeting and learning from Jeff and Rose. Jeff and Meghan now write about their experiences and learnings at awaytofi.com.

Today we discuss their different origin stories, long-term goals, and shed some light on the fraught balance between work, money, family, and the seemingly elusive control of our time.

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Is the Real Estate Investment Boom Killing US Housing Affordability?

Find me a person who can talk and you’ll find someone with an opinion on the housing market or real estate investment. And most of those opinions—even from happily settled homeowners—bear the tones of suspicion at best and downright defeat at worst.

Housing prices have skyrocketed a staggering 34% nationwide over the past two years. This rate is essentially an order of magnitude higher than historical home price appreciation. Certain markets are arguably out of hand (to use a technical term). Take Boise, Idaho, where prices are considered 73% overvalued.

Is the booming real estate investment trend at least partially to blame?

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EP 29: Back in the Weeds with the Frugal Professor

Today on episode 29 I want to welcome back to Clipping Chains writer, climber, father of five, and fellow personal finance geek, The Frugal Professor.

We cover it all on this one, from how the Frugal Professor was able to save nearly $2 million dollars with a family of seven, to how my wife and I are continuing to navigate a post-Financial Independence life.

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EP 25: Erich Purpur: What is the “Good Life?”

Today on episode 25 let’s give a hot stew welcome to climber and all-around curious guy, Erich Purpur. Erich works in the university system in Virginia, finding time in the margins to climb up to V10 and 5.13c. Recently, Erich is beginning to envision a potential life of financial independence.

But achieving financial independence may only be the beginning of the next journey.

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EP 24: Bitches Get Riches: What Do We Really Value?

Today on episode 24 I’m thrilled to host Piggy and Kitty of Bitches Get Riches. Yes, you heard that right. These ladies have generously self-applied the “B” word, offering me cover from the internet masses for using it in this case. You’ll hear it soon: I’m cancel-proof on this one. Piggy and Kitty write and host their own podcast dedicated to imparting “funny lessons about the adulting skills we were never taught, yet mysteriously expected to know.” Sound familiar?

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Seven Lessons From Two Years of Financial Freedom

Two years of financial freedom

It’s been almost exactly two years since I last worked for anyone else. Two years since I made a paycheck. Two years since I commuted. Two years since I waited too long, ran like a fool with a backpack smacking me in the ass, missing my bus home anyway. Two years since I rushed to the gym, exhausted after a full day of work, and grinded out a training session anyway. It’s been two years since I hurriedly traded slacks and dress shoes for chalk-covered pants and approach shoes in a cold parking garage. Two years since I told any inappropriate jokes to coworkers before a meeting began. Two years since I lived in an old house in Denver with “character” and loud, hateful neighbors. Two years since we bought a tiny A-frame camper, eventually living on the road. It’s been two years since so much changed, and today I’m here to tell you about what this sense of freedom is really all about.

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