Catching Up to FI

Today's episode is a live recording from the FI Freedom Retreat that took place in Bali, Indonesia in October 2023. Amy Minkley organized this awesome event and there were around 45 people in attendance from all over the globe.

Becky Heptig and Joe Saul-Sehy from Stacking Benjamins Podcast hosted a few of the attendees to get their unique and interesting stories. You'll meet Annie, who has tried out Van Life, Chris, a full-time digital nomad, and Tania, who discovered she was FI and didn't even know it!

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Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show: Stacking Benjamins

Stacked: Your Super-Serious Guide to Modern Money Management by Joe Saul-Sehy and Emily Guy Birken FI Freedom Retreats EconoMe CampFI

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

We welcome back Sean Mullaney to the show! Also known as The FI Tax Guy, Sean is a financial planner who offers fee-only and advice-only financial planning at Mullaney Financial & Tax, Inc. He was first on the show back in Episode 013 to discuss the basics of retirement accounts and the tax aspects of those accounts in the accumulation and drawdown years. Sean sits down with Bill and Becky for a second time today to discuss important year-end tax planning, a very timely and important topic. Sean will give us a taste for what we should be thinking about for 2023 and planning for 2024.

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Buy CUtFI a coffee

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Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

FItaxguy.com

2023 Year-End Tax Planning

What is a Donor Advised Fund?

Daffy

GuideStar

Solo 401(k): The Solopreneur's Retirement Account by Sean Mullaney

Backdoor Roth IRA for Beginners

Split-Year Backdoor Roth IRAs

Roth Conversions Before It's Too Late?

Disclaimer: The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Becky, Bill, and the Catching Up to FI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.

Frank Vasquez is a mostly retired lawyer with over 30 years' experience in investing for his own accounts. He holds degrees in Economics and Engineering from the California Institute of Technology and a law degree from Georgetown University. He is extremely active in the Financial Independence community, answering questions of all types in forums and Facebook groups. He has appeared as a guest on the Choose FI, What's Up Next and Security Analysis podcasts, and run workshops at the EconoMe Conference. His involvement in FI topics and issues predates the FI Community as it is known today. He is the founder and host of Risk Parity Radio, a laboratory or dive bar devoted to asset allocations for the DIY investor and drawdown portfolios.

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

Interview Notes for Frank Vasquez

What's Up Next Podcast

Security Analysis Podcast

FinCon

Risk Parity Radio

Histories of the FIRE Community

Early Retirement Extreme With Jacob Lund Fisker

Retirement Planning Education with Andy Panko

What is a Drawdown?

Retirement and IRA Show

Dave Ramsey

Catching Up to FI Episode 022 with Jordan Grumet

Open Social Security

Bill Bengen's 4% Rule

Liz Ann Sonders With Charles Schwab

📕 Cashing in on the American Dream: How to Retire at 35 by Paul Terhorst

Catching Up to FI Episode 033 with Allan Roth

Morningstar Portfolio Manager

A Wealth of Common Sense Blog with Ben Carlson

Risk Parity Radio Episode 289

Big Ern's Safe Withdrawal Rate Series

📗 The Little Book of Common Sense Investing by John Bogle

Walk4McKenna

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

Jillian Johnsrud is the author of "Fire the Haters: Finding Courage to Create Online In a Critical World," a blogger at montanamoneyadventures.com, a podcaster at Everyday Courage and Retire Often, and a Life Coach.

When Jillian and her husband married, they had $55,000 in debt. They also had big dreams: take mini-retirements, travel the world, and adopt children. In the last 21 years, they have paid off all their debt, traveled to 27 counties, lived abroad for 4 years, taken 12 mini-retirements, and adopted 4 kids (plus had 2 biological kids!). They paid cash for their very first home and bought 2 rental properties that they fixed up themselves. They have served on boards of nonprofits, mentored kids from tough situations, and volunteered in all sorts of roles.

At 32, Jillian became financially independent. Now it's her mission to help others build a life that perfectly lines up with their values, passion and purpose

🔗 Connect with us

Buy CUtFI a coffee

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Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Fire the Haters: Finding the Courage to Create Online in a Critical World by Jillian Johnsrud

Retire Often

Retire Often Podcast

Catching Up to FI Episode 019 with Fritz Gilbert

Catching Up to FI Episode 022 with Jordan Grumet

retireoften.com/intentional

Record a Message for CUtFI

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

On this special addition of Catching Up to FI, we get to hear a live panel from CampFI Midwest 2023 hosted by Becky, Diania Merriam of Optimal Finance Daily, and Jordan Grumet of Earn & Invest. The hosts discuss the surprising and maybe not-so-fun sides of financial independence and how to work through them. We also hear personal stories from the panel's audience.

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Optimal Finance Daily with Diania Merriam

Earn & Invest with Doc G

Camp FI

EconoMe

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

David Stein is the host of the personal finance podcast Money for the Rest of Us. The show has over 20M downloads and reaches more than 40,000 listeners per episode. Prior to launching his podcast, David advised and managed assets for institutions and financial planners. He was a Chief Investment Strategist and Chief Portfolio Strategist at Fund Evaluation Group, LLC. David perfected his teaching style as an investment consultant to numerous not-for-profit institutions. His book Money for the Rest of Us: 10 Questions to Master Successful Investing is different from many of the investing books our audience may have read. It is pivotal in helping "the rest of us" make less emotional and risk conscious decisions when making any investment.

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Money for the Rest of Us

Money for the Rest of US: 10 Questions to Master Successful Investing by David Stein

Catching Up to FI Episode 025 with Rob Berger

assetcamp.com

The White Coat Investing

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

Jonathan Clements is the founder and editor of the personal finance website HumbleDollar and author of nine personal finance books. Earlier in his career, Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist, and six years at Citigroup, where he was director of financial education for the bank's U.S. wealth management arm.

Jonathan about covers topics from two of his books: "How to Think About Money" and his most recent book "My Money Journey: How 30 People Found Financial Freedom – And You Can Too." Note that one journey described in this book is that of a person who "makes a comeback in midlife".

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Humble Dollar

The White Coat Investor's Financial Boot Camp: A 12-Step High-Yield Guide to Bring Your Finances Up to Speed by James M Dahle

Saving Our Retirement by Bill Yount

How to Think About Money by Jonathan Clements

My Money Journey: How 30 People Found Financial Freedom - And You Can Too by Jonathan Clements

What is the Easterlin paradox?

Catching Up to Fi Episode 039 with Mark Trautman

Catching Up to FI Episode 019 with Fritz Gilbert

Catching Up to FI Episode 022 with Jordan Grumet

Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life by Jordan Grumet

The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life by George Kinder

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

We welcome back Mark Trautman of Mark's Money Mind. Bill and Becky chatted with Mark on episode 12 about money in relationships. Mark also stood in for Bill as a co-host with Roger Whitney, the Q&A panel from CampFI, and On the Road with Catching Up to FI.

In this conversation, we are going to dive into an alternative to the 4% Rule of Thumb. We see people in our community ask about a drawdown strategy in retirement, and the go-to answer seems to be the 4% Rule. But we would like to present another way of solving for that question, "How much money do I need for retirement?"

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

4% Rule

Early Retirement Now

The Retirement and IRA Show with Jim Saulnier and Chris Stein

The 4% Rule: EDU #2216 - The Retirement and IRA Show

The Fun Number Part 1: EDU #2302 - The Retirement and IRA Show

All About The Minimum Dignity Floor (MDF) Part 1: EDU #2231 - The Retirement and IRA Show

What's an Annuity?

Delayed Annuity

Qualified Longevity Annuity Contract (QLAC)

Fixed Period Annuity

Amberly Grant

CampFI

FI Freedom Retreats

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

For our last installment of On the Road with Catching Up to FI, Becky and co-host Mark chat with Stacey, a (p)retired fellow traveler and member of the Rock Retirement Club. Stacey graciously opens up about the challenges of moving, caring for an aging parent, and being a widow while on the path to FI.

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Rock Retirement Club

The Retirement Answer Man Show

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.

Caroline Ceniza-Levine is one half of Costa Rica Fire. She and her husband, Scott (the other half), both grew up in New York City and have been married for 29 years. In their 20s and 30s, financial independence and early retirement were not at all on Scott and Caroline's radar. They were focused on their jobs and raising their kids in New York City, but also starting to invest in real estate. After focusing on FIRE in their 40s, Scott and Caroline were both able to leave their corporate jobs, and now, in their 50s, they are empty nesters, traveling and splitting their time between New York City, Jacksonville, FL, and Tamarindo, Costa Rica.

🔗 Connect with us

Buy CUtFI a coffee

Record a message for CUtFI

Thank you to our sponsors:

Personal Finance Club (Use code CUTOFI to get $30 OFF any course or PFC investing course only!)

Measure Twice Money ($100 OFF "Create Your Own Financial Plan" Comprehensive Video Course)

Nectarine: Advice-Only Financial Advisors

Resources mentioned on the show:

Financial Mentor

Financial Samurai

Bigger Pockets

International Living

Costa Rica FIRE

What is a HELOC?

The Risk Paradox: Life Lessons from 102 Amazing Risk-Takers by Alan Ying and Doug Schneider

The Small and Mighty Real Estate Investor: How to Reach Financial Freedom with Fewer Rental Properties by Chad Carson

Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.