Mile High FI Podcast

Doug and Carl chat about some questions that listener Austin submitted regarding early retirement and withdrawal strategies.  They explore the nuances of early retirement, discussing happiness, daily life, and responsible financial drawdowns.   They also address withdrawal strategies, including rental properties, index funds, automated transfers, tax optimization, health insurance, and how to handle Required Minimum Distributions (RMDs).

Note: This is a rebroadcast of MHFI episode 190

Do you like the podcast and want to support the show?  Follow the link to find out how: https://milehighfi.com/support/

Links

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

9:23 Post-FI life

18:58 What does FI look like?

27:05 Shifting interests

32:33 Passive income & rental properties

38:20 Index fund withdrawal strategy

45:30 Withdrawal amount

53:09 RMDs and tax strategies

1:03:51 Professional financial advice

1:13:01 Soundcheck – Paper notebooks

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug and Mark Trautman discuss a listener question regarding whether it’s better to pay off a low-interest mortgage (2.5%) or invest the money instead.  They explore various strategies, including the psychological benefits of paying off a mortgage, the financial returns of investing, and a hybrid approach to manage risks.  They also delve into the historical behavior of the stock market and emphasize the importance of aligning investments with personal goals.

Follow the link for more details including the original listener question and Doug’s Gemini Calculations: https://milehighfi.com/should-you-pay-off-your-mortgage-early/

Do you like the podcast and want to support the show?  Follow the link to find out how: https://milehighfi.com/support/

Links

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

2:02 Laying out the financial details

8:14 Mark’s approach – The money tree

13:57 Downsides of Mark’s strategy

18:37 Doug’s approach & Gemini calculations

24:42 Eliminating downside & lowering uncertainty

31:14 Market volatility & historical context

38:23 Not always about maximizing returns

44:54 Soundcheck – Cleaning

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug chats with Mark Trautman about non-frugal habits and some recent “fancy” spending that both of them have indulged in.  They delve into the concept of easing away from frugality, the ‘fun bucket’ for guilt-free spending, and psychological tricks to spend more comfortably while also touching upon practical tips for managing money and making thoughtful spending decisions.

Do you like the podcast and want to support the show?  Follow the link to find out how: https://milehighfi.com/support/

Links

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

2:06 The Fun Bucket

9:26 Upgraded dining

12:35 Cruising in style

18:56 Managing long trips

25:59 Higher-end music equipment

31:40 Flying in comfort

37:12 Travel hacking

43:46 Buying a new car

48:47 House purchase/swap

54:52 Mark’s Money Mind

58:22 Soundcheck – Landscaping & HOAs

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug and Kristen continue their conversation about travel hacking (picking up from MHFI 258), this time moving on to more advanced techniques & tips.  They discuss credit card referral bonuses, maximizing redemptions, airline alliances, the intricacies of business credit cards, and the Chase 5/24 rule.  Kristen also emphasizes the value of using tools & apps for tracking and optimizing points.

You can check out all of Kristen’s notes here: https://milehighfi.com/travelhacking/

Kristen’s credit card referral links – she gets points if you use any of the links and it’s a great way to say thanks!

Do you like the podcast and want to support the show?  Follow the link to find out how: https://milehighfi.com/support/

Links

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

7:54 Understanding referrals

15:01 Points redemption

23:41 Airline alliances

29:20 Business cards & Chase 5/24 rule

36:35 Creative spending & signup bonuses

43:48 P2 strategies & Companion Pass

50:37 Travel hacking community

53:55 FI Friends Travel

58:02 Soundcheck – The long journey home

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug chats with Kristen Knapp about the world of travel hacking, beginning with the basic principles and strategies for earning and maximizing points & miles.  Kristen shares her personal experience with travel hacking, highlights key rules and tips for getting started, offers practical advice on how to choose the right credit cards, the importance of being organized, and tips for utilizing various travel apps.

You can check out all of Kristen’s notes here: https://milehighfi.com/travelhacking/

Kristen’s credit card referral links – she gets points if you use any of the links and it’s a great way to say thanks!

Do you like the podcast and want to support the show?  Follow the link to find out how: https://milehighfi.com/support/

Links

(*Some affiliate links so we might earn a commission if you buy something)

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

12:17 Travel hacking basics

19:02 Maximizing points & miles

26:57 Credit card perks & annual fees

34:37 Understanding transferable points

43:07 Evaluating cards & opening strategies

50:04 Managing cards

56:52 Tracking credit card information

1:02:54 FI Friends Travel

1:10:45 Soundcheck – Home ownership struggles

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

This is a Bonus episode with producer Chris!

We talk about:

Happiness Study Links:

High income improves evaluation of life but not emotional well-being – 2010 Study by Kahneman and Deaton

Income and emotional well-being: A conflict resolved – 2022 Study by Killingsworth and Kahneman and Mellers

Check out Producer Chris’s blog: Epic Financial Journey

Join the Mile High FI Club – It’s our email list!

MHFI Facebook group

Help Doug publish more shows by supporting at Buy Me A Coffee.

See other sponsors and affiliate partners, like Mint, Trust&Will, and Nectarine.

Email the show: [email protected]

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Timestamps

00:00 Intro

00:55 Meet Producer Chris

03:07 Happiness and Income Studies

10:16 Inflection Points in Life

18:51 Toys and Spending

24:17 Guitar Trading and Financial Insights

25:27 Shifting Focus to Experiences

26:47 Balancing Material and Emotional Investments

28:53 Band Aspirations and Musical Gear

30:11 Reflections on Early Retirement

41:37 Frugal Habits and Financial Quirks

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug chats with JT about practical, actionable strategies for introverts attending conferences like EconoMe, Camp FI, and others.  They cover topics such as social anxiety, taking breaks, participating in structured activities, and effectively interacting with content creators.  They also share tips on the types of questions to ask to keep conversations flowing, how to gracefully exit interactions, maintaining self-care during events, and the importance of not overextending oneself.

This episode is brought to you by GhostBed.  Doug has the GhostBed Luxe Mattress and loves it!  Take the 3 minute sleep quiz to see which mattress is right for you.  Save 50% site-wide on your new mattress, bed frame, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI)

Save With Mint Mobile! (https://milehighfi.com/mint) New customers can get 3 months of unlimited premium wireless for $15/mo.  Doug’s phone bill went from $1440/yr to $360/yr for him and his wife.  It’s super easy to switch and you can use your existing phone.  If you use the MHFI link, it won’t cost you extra and it helps support the show.

Looking for help with your estate plan?  Trust & Will provides online tools for creating, you guessed it… trusts and wills.  For those who don’t have any estate planning documents in place, this could be a good option to get started.  We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Need a fee only advisor?  Nectarine is a network of financial advisors where you just pay for investing & planning advice.  Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Help Doug pay for all the stickers that he’ll be handing out at EconoMe by providing support at Buy Me A Coffee.

Links

(*Some affiliate links so we might earn a commission if you buy something)

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

3:25 An introverted extrovert

9:01 Importance of self-care

12:44 Don’t be afraid to meet people

18:22 Take breaks & select which activities to attend 

24:25 Navigating awkward conversations

28:58 Asking open-ended & deeper questions

35:52 Christmas PJs

41:29 Jumping into group conversations

45:47 Getting out of conversations

50:12 Approaching content creators

57:07 How to find others to talk to

1:04:11 Post-conference reflections

1:10:21 Soundcheck – Prepare, practice, & care less

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug chats with friends Chris & JT from a partially-disclosed location in Breckenridge about a potpourri of topics.  The trio discusses happiness, dives into the controversial & confusing topic of tipping (with input from listener Kris), and provides their thoughts on high net-worth individuals (based on a correction pointed out by listener Bill). The group also analyzes Amber’s ambition of reaching FI by age 40-45 (full details below).

Be sure to check out Chris’s music… His first single releases in March: http://chrisrusin.com/

Details of Amber’s Case Study:

This episode is brought to you by GhostBed.  Doug has the GhostBed Luxe Mattress and loves it!  Take the 3 minute sleep quiz to see which mattress is right for you.  Save 50% site-wide on your new mattress, bed frame, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI)

Save With Mint Mobile! (https://milehighfi.com/mint) New customers can get 3 months of unlimited premium wireless for $15/mo.  Doug’s phone bill went from $1440/yr to $360/yr for him and his wife.  It’s super easy to switch and you can use your existing phone.  If you use the MHFI link, it won’t cost you extra and it helps support the show.

Looking for help with your estate plan?  Trust & Will provides online tools for creating, you guessed it… trusts and wills.  For those who don’t have any estate planning documents in place, this could be a good option to get started.  We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Need a fee only advisor?  Nectarine is a network of financial advisors where you just pay for investing & planning advice.  Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Help Doug afford one of those delicious Popeye’s chicken sandwiches by providing support at Buy Me A Coffee.

Links

(*Some affiliate links so we might earn a commission if you buy something)

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

9:48 Tipping

16:56 Deliveries & haircuts

24:26 High net worth individuals

29:29 Amber’s case study

34:35 Reflections from Chris & Doug’s FI journeys

40:20 Earn money & leveraging experience

47:54 Happiness

54:11 Soundcheck – The Tape Technique

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug and guest host Kristen Knapp chat with Colorado native Suzy about her financial independence journey and world travel with her family, including extended periods of time living abroad.  Suzy shares her journey toward Coast FI, early money mistakes, taking sabbaticals, and the importance of community.  She elaborates on her family’s experience with worldschooling, the benefits of living in Spain (both cultural & financial), the intricacies of living abroad, and how her family managed healthcare.

This episode is brought to you by GhostBed.  Doug has the GhostBed Luxe Mattress and loves it!  Take the 3 minute sleep quiz to see which mattress is right for you.  Save 50% site-wide on your new mattress, bed frame, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI)

Save With Mint Mobile! (https://milehighfi.com/mint) New customers can get 3 months of unlimited premium wireless for $15/mo.  Doug’s phone bill went from $1440/yr to $360/yr for him and his wife.  It’s super easy to switch and you can use your existing phone.  If you use the MHFI link, it won’t cost you extra and it helps support the show.

Looking for help with your estate plan?  Trust & Will provides online tools for creating, you guessed it… trusts and wills.  For those who don’t have any estate planning documents in place, this could be a good option to get started.  We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Need a fee only advisor?  Nectarine is a network of financial advisors where you just pay for investing & planning advice.  Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

Help Doug pay for a future trip to Spain so he can visit both Kristen & Suzy by providing support at Buy Me A Coffee.

Links

—

Join the Mile High FI Club – It’s the email list!

Get MHFi Merch – It helps support the show. Get t-shirts & more

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

0:00 Introduction

9:12 Suzy’s background & finding FI

15:02 Suzy’s husband’s financial journey

20:07 Money mistakes

25:08 First sabbatical & worldschooling

33:55 Living in Spain & embracing the culture

39:42 Cost of living in Spain

44:58 Navigating healthcare abroad

50:53 Kristen’s Spanish ambitions

55:20 Current work situation & desire to help others

1:03:56 Soundcheck – Colorado

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Elizabeth retired 10 months ago. We talk about her system to make sure she’s doing things… I’m doing bonus episodes now!

Introvert Instagram Clip we mention

Join the Mile High FI Club – It’s our email list!

MHFI Facebook group

Help Doug publish more shows by supporting at Buy Me A Coffee.

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

Email the show: [email protected]

—-

Timestamps

00:00 Welcome to the Mile High 5 Podcast

00:26 Retirement Reflections: 10 Months In

01:50 Creating a Fulfilling Retirement Routine

04:27 Time Bucketing: Structuring the Day

07:23 Balancing Activities and Mental Well-being

13:43 The Impact of Reducing News Consumption

18:49 Embracing Early Bedtimes and Winter Hibernation

20:07 Social Activities and Hobbies

21:06 Thoughts on Returning to Work

22:14 Daily Routines and Flexibility

24:26 Balancing Relaxation and Productivity

27:44 The Role of Pets in Daily Life

33:09 Puzzle Competitions and Strategies

Do you like the podcast and want to support the show?  Follow the links to find out how:
https://buymeacoffee.com/milehighfi

Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**