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 marketsAre 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 ratesWhat 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 presentationsSo much more! Support this project: Buy Me a CoffeeSubscribe to the website: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com Q1: How has my lifestyle evolved since achieving financial independence and how do I spend my time? (00:02:49) Q2: Updated thoughts on money and markets (00:05:01) Q3: What if Vanguard failed?! (00:07:53) Q4: Can and should life insurance policies be used for retirement savings? (00:11:56) Q5: When do I stop trying to optimize my tax bracket and just let go? (00:15:30) Q6: What is a Simple IRA and how does it differ from a 401(k)? Can I still do Roth conversions? (00:18:56) Q7: Savings rates are great right now! Should I pay less on my loans to maximize my savings? (00:22:39) Q8: Big picture: Where do I start on getting my financial life together?(00:26:26) Q9: How was your presentation at the climbing gym? Can you record it? (00:34:51) Q10: Can you supply podcast transcripts? (00:40:27)

We’re back to the digital mailbag to answer your questions!For this week:<ul><li>How has my lifestyle evolved since achieving financial independence and how do I spend my time?</li><li>Updated thoughts on money and markets</li><li>Are we putting too much faith in institutions like Vanguard?</li><li>Can and should life insurance policies be used for retirement savings?</li><li>Tax avoidance versus accepting higher tax rates</li><li>What is a Simple IRA and how does it differ from a 401(k)? Can I still do Roth conversions?</li><li>Savings rates are great! Should I pay less on my loans to maximize my savings?</li><li>Big picture: Where do I start on getting my financial life together?</li><li>Outreach and presentations</li><li>So much more!</li></ul> Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Subscribe to the website: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/47Gr6Dw" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a><h2> </h2><h2>Q1: How has my lifestyle evolved since achieving financial independence and how do I spend my time? (00:02:49)</h2> <h2>Q2: Updated thoughts on money and markets (00:05:01)</h2> <h2>Q3: What if Vanguard failed?! (00:07:53)</h2> <h2>Q4: Can and should life insurance policies be used for retirement savings? (00:11:56)</h2> <h2>Q5: When do I stop trying to optimize my tax bracket and just let go? (00:15:30)</h2> <h2>Q6: What is a Simple IRA and how does it differ from a 401(k)? Can I still do Roth conversions? (00:18:56)</h2> <h2>Q7: Savings rates are great right now! Should I pay less on my loans to maximize my savings? (00:22:39)</h2> <h2>Q8: Big picture: Where do I start on getting my financial life together?(00:26:26)</h2> <h2>Q9: How was your presentation at the climbing gym? Can you record it? (00:34:51)</h2> <h2>Q10: Can you supply podcast transcripts? (00:40:27)</h2>

QA11: Laying It Out in Simple Terms

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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3DBUDQE" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

The One Time to Be Average with Dave Rosen

Frugality is an endearing element of saving money and living the good life. But interestingly, the recent discourse in personal finance circles has seemingly shifted to embrace spending over saving. What is going on, how did this happen, and why should we care? Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Frugality is an endearing element of saving money and living the good life. But interestingly, the recent discourse in personal finance circles has seemingly shifted to embrace spending over saving. What is going on, how did this happen, and why should we care? Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3rt6f62" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

What Happened to Frugality?

In the summer of 2020, we sold our home in Denver, Colorado. Once all the costs were tallied, we were shocked to see the return on our home ownership investment. Should we have rented instead? Today we revisit this post in light of our recent move. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

In the summer of 2020, we sold our home in Denver, Colorado. Once all the costs were tallied, we were shocked to see the return on our home ownership investment. Should we have rented instead? Today we revisit this post in light of our recent move. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/44fHj0l" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

The Real Cost of Home Ownership (and a Life Update)

Mike Piper

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:Diversify your portfolioMinimize costs (commissions, fees, mutual fund expenses, taxes)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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Mike Piper is a CPA and the creator of the <a href="https://obliviousinvestor.com/about/" rel="nofollow" target="_blank">Oblivious Investor blog</a>, where he teaches a philosophy of simple and low-maintenance investing.Mike’s simple philosophy distills down to three primary principles:<ol><li>Diversify your portfolio</li><li>Minimize costs (commissions, fees, mutual fund expenses, taxes)</li><li>Ignore the noise.</li></ol>Mike began his career as a CPA before realizing he could support himself by writing books. Surprisingly, he left his secure job during the <a href="https://clippingchains.com/2020/03/23/shocking-headlines-of-the-2008-financial-crisis/" rel="nofollow" target="_blank">2008 financial crisis</a>. 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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/45ZHNZK" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Mike Piper: Down To The Essence Of Smart Money Management

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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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 <a href="https://clippingchains.com/2021/01/25/the-simple-and-complicated-life-on-the-road/" rel="nofollow" target="_blank">living in a tiny A-frame camper</a> with my wife and dog before <a href="https://clippingchains.com/2020/12/14/back-to-home-ownership/" rel="nofollow" target="_blank">resettling in the St. George, Utah area</a>.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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3qegEBT" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Six Important Reasons to Reconsider Early Retirement

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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3MCJIvv" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Jeff and Priti Wright: You Might Need a Sabbatical

Financial independence won’t solve life’s problems. We will never “arrive.” We will never achieve perfection. An impactful 2018 study, nicknamed the Blue Dot Effect, helps us to understand the mind’s tendency toward finding problems, even where none exist. The results have broad implications for individuals and members of a progressing society. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Financial independence won’t solve life’s problems. We will never “arrive.” We will never achieve perfection. An impactful 2018 study, nicknamed the Blue Dot Effect, helps us to understand the mind’s tendency toward finding problems, even where none exist. The results have broad implications for individuals and members of a progressing society. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/42d6zTS" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

The Blue Dot Effect: Pessimism in a Beautiful World

Since the financial crisis of 2008, two dominant views on stock market investing have emerged:Stock market investing is volatile and risky, akin to gambling.Stock market investing is reliable and free money.The Great Recession produced a decline in overall equity values in the range of 50%+ from 2007 to early 2009. The event created a lasting and widespread change in mindsets around personal finance, even what it means to be securely middle class. However, for those that stayed the course, the subsequent Great Bull Market produced exorbitant wealth for almost anyone investing in almost anything.If there’s a lesson to be learned here, it’s that market growth and declines are cyclical. These cycles are influenced by a complex blend of fiscal policy, business practices, and perhaps most important of all—animal spirits: human behavior and emotion. To balance risk and reward, one should invest broadly in the market as a whole and increase the investing timeline. The latter in particular is easier said than done. In this post today, we quantify the power of longevity in the market. We have reason to rejoice, so long as we can hang on! Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Since the <a href="https://clippingchains.com/2020/03/23/shocking-headlines-of-the-2008-financial-crisis/" rel="nofollow" target="_blank">financial crisis of 2008</a>, two dominant views on stock market investing have emerged:<ol><li>Stock market investing is volatile and risky, akin to gambling.</li><li>Stock market investing is reliable and free money.</li></ol>The Great Recession produced a decline in overall equity values in the range of 50%+ from 2007 to early 2009. The event created a lasting and widespread change in mindsets around personal finance, even what it means to be securely middle class. However, for those that stayed the course, the subsequent Great Bull Market produced exorbitant wealth for almost anyone investing in almost anything.If there’s a lesson to be learned here, it’s that market growth and declines are cyclical. These cycles are influenced by a complex blend of fiscal policy, business practices, and perhaps most important of all—animal spirits: human behavior and emotion. To balance risk and reward, one should invest broadly in the market as a whole and increase the investing timeline. The latter in particular is easier said than done. In this post today, we quantify the power of longevity in the market. We have reason to rejoice, so long as we can hang on! Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3LGPQm1" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

The Great Comfort of Longevity in the Stock Market

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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3H9cHDY" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Heather Larsen: Risk And Reward In Outdoor Careers

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:Why would someone who theoretically doesn’t need to work begin a new career?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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Today on episode 60 I’m pleased to welcome back Chris Mamula, who you may recall from <a href="https://clippingchains.com/2021/08/23/ep-3-chris-mamula/" rel="nofollow" target="_blank">episode 3</a>. Chris is a writer, author, and partner at <a href="https://www.caniretireyet.com/" rel="nofollow" target="_blank">CanIRetireYet.com</a>, 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:<ol><li>Why would someone who theoretically doesn’t need to work begin a new career?</li><li>How can someone who harbors admittedly dogmatic views against the financial advice industry find a comfortable home working in this field?</li></ol>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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="http://bit.ly/3GtNYde" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

What You Need to Know About Financial Advisors with Chris Mamula

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? Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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? Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="http://bit.ly/40GG4Fj" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

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

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 marketsSo much more! Support this project: Buy Me a CoffeeSubscribe to the website: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com Q1: Are new investors part of an “unlucky cohort” that won’t achieve FI in the often-cited timelines? (00:05:52) Q2: Is it worth it to hire a tax professional? And if so, how should I find one? (00:16:40) Q3: Can you help me understand all these confusing public sector retirement accounts? (00:21:48) Q4: Should I do a Roth conversion now or just make a contribution to a Roth IRA? (00:25:36) Q5: Thoughts on the recent bank runs and instability in financial markets. (00:31:40)

We’re back to the digital mailbag to answer your questions!For this week:<ul><li>Are new investors part of an “unlucky cohort” that won’t achieve financial independence in the often-cited timelines?</li><li>Is it worth it to hire a tax professional? And if so, how should I find one?</li><li>Can you help me understand all these confusing public sector retirement accounts?</li><li>Should I do a Roth conversion now or just make a contribution to a Roth IRA?</li><li>Thoughts on the recent bank runs and instability in financial markets</li><li>So much more!</li></ul> Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Subscribe to the website: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="http://bit.ly/3JvuHJ1" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a> <h2>Q1: Are new investors part of an “unlucky cohort” that won’t achieve FI in the often-cited timelines? (00:05:52)</h2> <h2>Q2: Is it worth it to hire a tax professional? And if so, how should I find one? (00:16:40)</h2> <h2>Q3: Can you help me understand all these confusing public sector retirement accounts? (00:21:48)</h2> <h2>Q4: Should I do a Roth conversion now or just make a contribution to a Roth IRA? (00:25:36)</h2> <h2>Q5: Thoughts on the recent bank runs and instability in financial markets. (00:31:40)</h2>

QA10: Bear Markets and Bank Failures

Dawn Baker

Today on episode 57 I’m pleased to welcome Dawn Baker, a board-certified anesthesiologist, wife, mother, climber, coach, and now the author of a new book about the perils of, as she puts it, an intense need to achieve. And Dawn has walked the walk. After years of hard-driving pursuit of linear improvement in both career and climbing, she suffered crushing fatigue and malaise, and ultimately faced a major health crisis during her residency. If that wasn’t enough, she was then plagued with infertility problems. The result was expensive and demoralizing rounds of in-vitro fertilization, an approach that ultimately proved successful and led to the birth of her daughter.The need for achievement and success is so pervasive in our culture. And this interview is not just for downtown or medical center careerists. This is as much a discussion of climbing and our hobbies, which can so often derail into something quite different from our original healthy and recreational pursuits.Today, Dawn’s life with her husband and daughter is so different. Through evaluation of her core values, married with a strong financial position, she now works “very part time,” and has moved with her family to a homestead in the high plateaus of southern Utah. But in choosing to step away, or lean out, as Dawn says, we risk our position and standing in the social hierarchy. This is much a discussion of status as it is of lifestyle. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Today on episode 57 I’m pleased to welcome Dawn Baker, a board-certified anesthesiologist, wife, mother, climber, coach, and now the author of a new book about the perils of, as she puts it, an intense need to achieve. And Dawn has walked the walk. After years of hard-driving pursuit of linear improvement in both career and climbing, she suffered crushing fatigue and malaise, and ultimately faced a major health crisis during her residency. If that wasn’t enough, she was then plagued with infertility problems. The result was expensive and demoralizing rounds of in-vitro fertilization, an approach that ultimately proved successful and led to the birth of her daughter.The need for achievement and success is so pervasive in our culture. And this interview is not just for downtown or medical center careerists. This is as much a discussion of climbing and our hobbies, which can so often derail into something quite different from our original healthy and recreational pursuits.Today, Dawn’s life with her husband and daughter is so different. Through evaluation of her core values, married with a strong financial position, she now works “very part time,” and has moved with her family to a homestead in the high plateaus of southern Utah. But in choosing to step away, or lean out, as Dawn says, we risk our position and standing in the social hierarchy. This is much a discussion of status as it is of lifestyle. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3KYGGRP" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Lean Out: The Achievement Paradox with Dawn Baker

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. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

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—<a href="https://clippingchains.com/2023/02/06/four-hour-work-day/" rel="nofollow" target="_blank">I told you I was distracted</a>—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 <a href="https://clippingchains.com/2019/04/22/the-economics-of-van-life/" rel="nofollow" target="_blank">vans</a>, 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. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3SsXOkB" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

Five Lessons from Three Years of Financial Independence

Darrow Kirkpatrick

Today on episode 55 I’m honored to welcome Darrow Kirkpatrick, former engineer, climber, investor, author, and the creator of the popular blog CanIRetireYet.com. Darrow began serious saving and investing in his mid-30s and retired at age 50 in 2011 from a career in software engineering.In this wide-ranging interview, we explore why Darrow stepped away from personal finance writing after creating a popular blog, his adventures on the Colorado Trail and the inspiration for a memoir, and the journey and struggle to finding meaning and purpose at any stage in life. Darrow Kirkpatrick: An IntroductionDarrow was eager to share the methods and values of frugality and simple personal finance in the early days of his retirement, leading to the creation of his blog. Over time, though, his interest in the subject slowly waned, replaced by the need for more adventure. He partnered with Chris Mamula, eventually releasing the reigns of the blog to Chris.In the intervening years, Darrow has spent considerable time in contemplation of purpose and meaning in retirement, an often under-discussed and potentially difficult reality. This spiritual journey ultimately led him to pursue a boyhood dream of hiking the Colorado Trail. To achieve this lofty goal, he faced mental and physical hurdles, including walking the length of the trail with forearm crutches. Darrow has been busy writing a memoir of that experience, titled Rain and Fire in the Sky: Beyond Doubt on the Colorado Trail. Additionally, he has created a new website dedicated to cataloguing and reviewing other trail memoirs, at trailmemoir.com, where you can keep up with the latest on his upcoming book.This interview offers a unique perspective on the softer side of financial optimization. We can be masters of technical methods of saving and investing, but ultimately none of that matters without clear direction, purpose, and meaning in our lives. As a retiree of twelve years and counting, Darrow has plenty of lessons for us all. Topics Discussed with Darrow Kirkpatrick:Darrow’s climbing life: early free climbing and first ascentsDarrow’s career: becoming a software engineer and working remotely, long before either of these career options were commonplaceFinding a path to financial independence in a time before widespread bloggingDarrow’s key philosophy and methods to achieving financial independenceWhy Darrow sold CanIRetireYet.com to Chris MamulaFinding meaning and purpose in retirement and deciding to hike the Colorado TrailDarrow’s physical and mental hurdles in life and on the trail, and specific methods to address these struggles.How Darrow leveraged financial strength to take a mid-career break for struggles with anxietyReflections on trail life, solitude in the wilderness, and writing a memoir of that experienceBalancing life on the road and a home lifeSocial connections for retirees and for those relocating to new townsMessaging early retirement in social situationsSo much more! Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com Get in Touch with Darrow KirkpatrickCanIRetireYet.comTrailmemoir.com Related Posts and InterviewsEP 17: Michael Langer: Hiking the Pacific Crest Trail (Clipping Chains)EP 18: Kenzie King: Hiking the Pacific Crest Trail (Clipping Chains)Fear and Limping (Alone) in Las Vegas (Clipping Chains)Eudaimonia: Key Pillars of the Meaningful Life (Clipping Chains)EP 53: Lee Cujes: No Free Lunch on the Life We Really Want (Clipping Chains)Peruse all Clipping Chains posts and interviews here.Darrow’s 2023 Investment Portfolio (CanIRetireYet)Finding Your Purpose in a Long Retirement (CanIRetireYet)Over the Hill (Darrowkirkpatrick.com) Other Resources MentionedCritique Circle (online writing critique)SideStix Forearm Crutches BooksA Walk in the Woods: Rediscovering America on the Appalachian Trail (Bill Bryson)Wild: From Lost to Found on the Pacific Crest Trail (Cheryl Strayed)The Wanting Was a Wilderness: Cheryl Strayed’s WILD and the Art of Memoir (Alden Jones)How I Found Freedom in an Unfree World: a Handbook for Personal Liberty (Harry Browne)Fail-Safe Investing: Lifelong Financial Security in 30 Minutes (Harry Browne)The Making of the Atomic Bomb (Richard Rhodes)Thousand-Mile Summer (Colin Fletcher)John McPhee Books

Today on episode 55 I’m honored to welcome Darrow Kirkpatrick, former engineer, climber, investor, author, and the creator of the popular blog <a href="https://www.caniretireyet.com/" rel="nofollow" target="_blank">CanIRetireYet.com</a>. Darrow began serious saving and investing in his mid-30s and retired at age 50 in 2011 from a career in software engineering.In this wide-ranging interview, we explore why Darrow stepped away from personal finance writing after creating a popular blog, his adventures on the Colorado Trail and the inspiration for a memoir, and the journey and struggle to finding meaning and purpose at any stage in life. <h2>Darrow Kirkpatrick: An Introduction</h2>Darrow was eager to share the methods and values of frugality and simple personal finance in the early days of his retirement, leading to the creation of his blog. Over time, though, his interest in the subject slowly waned, replaced by the need for more adventure. He partnered with <a href="https://clippingchains.com/2021/08/23/ep-3-chris-mamula/" rel="nofollow" target="_blank">Chris Mamula</a>, eventually releasing the reigns of the blog to Chris.In the intervening years, Darrow has spent considerable time in contemplation of purpose and meaning in retirement, an often under-discussed and potentially difficult reality. This spiritual journey ultimately led him to pursue a boyhood dream of hiking the Colorado Trail. To achieve this lofty goal, he faced mental and physical hurdles, including walking the length of the trail with forearm crutches. Darrow has been busy writing a memoir of that experience, titled Rain and Fire in the Sky: Beyond Doubt on the Colorado Trail. Additionally, he has created a new website dedicated to cataloguing and reviewing other trail memoirs, at <a href="https://trailmemoir.com/" rel="nofollow" target="_blank">trailmemoir.com</a>, where you can keep up with the latest on his upcoming book.This interview offers a unique perspective on the softer side of financial optimization. We can be masters of technical methods of saving and investing, but ultimately none of that matters without clear direction, purpose, and meaning in our lives. As a retiree of twelve years and counting, Darrow has plenty of lessons for us all. <h2>Topics Discussed with Darrow Kirkpatrick:</h2><ul><li>Darrow’s climbing life: early free climbing and first ascents</li><li>Darrow’s career: becoming a software engineer and working remotely, long before either of these career options were commonplace</li><li>Finding a path to financial independence in a time before widespread blogging</li><li>Darrow’s key philosophy and methods to achieving financial independence</li><li>Why Darrow sold <a href="http://CanIRetireYet.com" rel="nofollow" target="_blank">CanIRetireYet.com</a> to Chris Mamula</li><li>Finding meaning and purpose in retirement and deciding to hike the Colorado Trail</li><li>Darrow’s physical and mental hurdles in life and on the trail, and specific methods to address these struggles.</li><li>How Darrow leveraged financial strength to take a mid-career break for struggles with anxiety</li><li>Reflections on trail life, solitude in the wilderness, and writing a memoir of that experience</li><li>Balancing life on the road and a home life</li><li>Social connections for retirees and for those relocating to new towns</li><li>Messaging early retirement in social situations</li><li>So much more!</li></ul> Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="http://bit.ly/3EkSdqr" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a> <h2>Get in Touch with Darrow Kirkpatrick</h2><a href="https://www.caniretireyet.com/" rel="nofollow" target="_blank">CanIRetireYet.com</a><a href="https://trailmemoir.com/" rel="nofollow" target="_blank">Trailmemoir.com</a> <h2>Related Posts and Interviews</h2><a href="https://clippingchains.com/2021/12/13/ep-17-michael-langer/" rel="nofollow" target="_blank">EP 17: Michael Langer: Hiking the Pacific Crest Trail</a> (Clipping Chains)<a href="https://clippingchains.com/2021/12/20/ep-18-kenzie-king/" rel="nofollow" target="_blank">EP 18: Kenzie King: Hiking the Pacific Crest Trail</a> (Clipping Chains)<a href="https://clippingchains.com/2021/03/01/fear-and-limping-alone-in-las-vegas/" rel="nofollow" target="_blank">Fear and Limping (Alone) in Las Vegas</a> (Clipping Chains)<a href="https://clippingchains.com/2022/12/05/eudaimonia/" rel="nofollow" target="_blank">Eudaimonia: Key Pillars of the Meaningful Life</a> (Clipping Chains)<a href="https://clippingchains.com/2023/01/30/lee-cujes-podcast/" rel="nofollow" target="_blank">EP 53: Lee Cujes: No Free Lunch on the Life We Really Want</a> (Clipping Chains)Peruse all Clipping Chains posts and interviews <a href="https://clippingchains.com/category/about-us/" rel="nofollow" target="_blank">here</a>.<a href="https://www.caniretireyet.com/investment-portfolio-review-2023/" rel="nofollow" target="_blank">Darrow’s 2023 Investment Portfolio</a> (CanIRetireYet)<a href="https://www.caniretireyet.com/finding-purpose-long-retirement/" rel="nofollow" target="_blank">Finding Your Purpose in a Long Retirement</a> (CanIRetireYet)<a href="https://darrowkirkpatrick.com/over-the-hill/" rel="nofollow" target="_blank">Over the Hill</a> (<a href="http://Darrowkirkpatrick.com" rel="nofollow" target="_blank">Darrowkirkpatrick.com</a>) <h2>Other Resources Mentioned</h2><a href="https://www.critiquecircle.com/landing" rel="nofollow" target="_blank">Critique Circle</a> (online writing critique)<a href="https://www.sidestix.com/" rel="nofollow" target="_blank">SideStix Forearm Crutches</a> <h2>Books</h2><a href="https://amzn.to/3k1BUIr" rel="nofollow" target="_blank">A Walk in the Woods: Rediscovering America on the Appalachian Trail</a> (Bill Bryson)<a href="https://amzn.to/3Eg6EMm" rel="nofollow" target="_blank">Wild: From Lost to Found on the Pacific Crest Trail</a> (Cheryl Strayed)<a href="https://amzn.to/3XElXW8" rel="nofollow" target="_blank">The Wanting Was a Wilderness: Cheryl Strayed’s WILD and the Art of Memoir</a> (Alden Jones)<a href="https://amzn.to/3YZJwd7" rel="nofollow" target="_blank">How I Found Freedom in an Unfree World: a Handbook for Personal Liberty</a> (Harry Browne)<a href="https://amzn.to/3S5Tw2m" rel="nofollow" target="_blank">Fail-Safe Investing: Lifelong Financial Security in 30 Minutes</a> (Harry Browne)<a href="https://amzn.to/3k6wLyB" rel="nofollow" target="_blank">The Making of the Atomic Bomb</a> (Richard Rhodes)<a href="https://amzn.to/3S7oeYJ" rel="nofollow" target="_blank">Thousand-Mile Summer</a> (Colin Fletcher)<a href="https://amzn.to/3I6BCYF" rel="nofollow" target="_blank">John McPhee Books</a>

Darrow Kirkpatrick: Beyond Doubt on the Colorado Trail

We live in a distracted world where depth of investigation is discouraged. Despite increases in scientific spending, the number of publications, or the amount of PhDs being rewarded, major discoveries in science and engineering have declined significantly in recent decades. The new-music market is shrinking, and old hits are dominating. We are working more days and longer hours, but US productivity growth is way down. A society that produces meaningful output is a healthy society, but meaningful output is arguably on the decline in many fields.I argue that distraction and “noise” are key inhibitors to a healthy and progressing society. In the nearly three years since I quit my job, I’ve been forced to examine my strong tendency toward distraction. What follows is a discussion of methods that I’ve found incredibly useful in retraining my brain for deep and focused work and why that matters so much today. Our peak potential resides in no more than four hours per day. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Written Article and Links at Clippingchains.com

We live in a distracted world where depth of investigation is discouraged. Despite increases in scientific spending, the number of publications, or the amount of PhDs being rewarded, major discoveries in science and engineering have declined significantly in recent decades. The new-music market is shrinking, and old hits are dominating. We are working more days and longer hours, but US productivity growth is way down. A society that produces meaningful output is a healthy society, but meaningful output is arguably on the decline in many fields.I argue that distraction and “noise” are key inhibitors to a healthy and progressing society. In the nearly three years since <a href="https://clippingchains.com/2020/02/10/breaking-i-sort-of-quit-my-job/" rel="nofollow" target="_blank">I quit my job</a>, I’ve been forced to examine my strong tendency toward distraction. What follows is a discussion of methods that I’ve found incredibly useful in retraining my brain for deep and focused work and why that matters so much today. Our peak potential resides in no more than four hours per day. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://bit.ly/3XbfnpU" rel="nofollow" target="_blank">Written Article and Links at Clippingchains.com</a>

The Power of the Four-Hour Work Day (even in retirement)

Lee Cujes

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.   Lee Cujes: An Introduction Lee insists that he climbed his best at the peak of his career. To enable a better work and life balance, Lee and his wife Sam reconfigured their life to move away from the hustle and bustle of a major metro area.  They resettled in a small mountain community and climbing mecca in the Blue Mountains. Furthermore, Lee has been investing since 1998. As such, he has the experience of investing through the back-to-back severe recessions of the dot-com bubble burst and the 2008 financial crisis, a prolonged, decade+ period where stocks fell over 60% in value. Lee was able to stay the course through year after year of poor equity performance, putting him on a path to financial independence today. Many of you investing through your first bear market, which began in early 2022, will find the beginning of our conversation today useful and inspiring. This interview is a wide-ranging and fun exploration of career, investing, climbing, long-term travel, relationships, wealth accumulation and preservation, and the realization that early retirement is still a fundamentally weird concept to most of society.   Topics Discussed with Lee Cujes Weathering two back-to-back severe recessions as a new investorLee’s discovery of financial independence and the framework it providedImproving life now instead of rushing to financial independencePlenty of career advice: finding the right job, loyalty and longevity versus job-hopping, college as prep for the job market, and what really makes work meaningful, and why Lee climbed his best at the peak of his careerWhy having more time to climb won’t make us better climbersWhat Lee’s life would look like with financial independenceThoughts on a mid-career year of international travel and climbingSaving strategies and investing options for Australians and Americans alikePlanning your “FIRE number” and deliberation on proper withdrawal rates in a high-inflation and low-return environmentDiscussing early retirement to a dubious public. Lack of synchronization with society.Lee’s advice on improving your financial lifeSo much more!   Support this project: Buy Me a Coffee Get the newsletter: SUBSCRIBE ME! Show Notes and Links at Clippingchains.com   Get in Touch with Lee Cujes Lee’s 2020 Clipping Chains Interview Lee Cujes on Instagram   Other Interviews and Posts Mentioned Eudaimonia: Key Pillars of the Meaningful Life Shocking Headlines of the 2008 Financial Crisis (And Why They Are So Important Now) The Long Approach to Being Scared of Investing Can The 4% Rule Actually Work For Early Retirement? Joy and Tyler Black on Career, Money Mindsets, and Parenting The Bold and Beautiful Roth Conversion Ladder Back in the Weeds with the Frugal Professor Peruse all Clipping Chains posts and interviews here.     Other Resources Seinfeld: The Marine Biologist A recommended FIRE Calculator (***simplified, review key assumptions!***) Australian Superannuation   Books Recommended by Lee Cujes The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich (Tim Ferriss) The Magician Series (Raymond E. Feist) Leonidio &amp; Kyparissi Guidebook – 2021 Revised

Today on episode 53 I’m pleased to welcome back Lee Cujes, this time as a podcast guest. Some of you may recall <a href="https://clippingchains.com/2020/11/30/lee-cujes/" rel="nofollow" target="_blank">the written interview with Lee</a> 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. <h2>Lee Cujes: An Introduction</h2> Lee insists that he climbed his best at the peak of his career. To enable a better work and life balance, Lee and his wife Sam reconfigured their life to move away from the hustle and bustle of a major metro area.  They resettled in a small mountain community and climbing mecca in the Blue Mountains. Furthermore, Lee has been investing since 1998. As such, he has the experience of investing through the back-to-back severe recessions of the dot-com bubble burst and the 2008 financial crisis, a prolonged, decade+ period where stocks fell over 60% in value. Lee was able to stay the course through year after year of poor equity performance, putting him on a path to financial independence today. Many of you investing through your first bear market, which began in early 2022, will find the beginning of our conversation today useful and inspiring. This interview is a wide-ranging and fun exploration of career, investing, climbing, long-term travel, relationships, wealth accumulation and preservation, and the realization that early retirement is still a fundamentally weird concept to most of society. <h2> </h2> <h2>Topics Discussed with Lee Cujes</h2> <ul><li>Weathering two back-to-back severe recessions as a new investor</li><li>Lee’s discovery of financial independence and the framework it provided</li><li>Improving life now instead of rushing to financial independence</li><li>Plenty of career advice: finding the right job, loyalty and longevity versus job-hopping, college as prep for the job market, and what really makes work meaningful, and why Lee climbed his best at the peak of his career</li><li>Why having more time to climb won’t make us better climbers</li><li>What Lee’s life would look like with financial independence</li><li>Thoughts on a mid-career year of international travel and climbing</li><li>Saving strategies and investing options for Australians and Americans alike</li><li>Planning your “FIRE number” and deliberation on proper withdrawal rates in a high-inflation and low-return environment</li><li>Discussing early retirement to a dubious public. Lack of synchronization with society.</li><li>Lee’s advice on improving your financial life</li><li>So much more!</li></ul> Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a> Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a> <a href="https://bit.ly/3j7zxDu" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a> <h2>Get in Touch with Lee Cujes</h2> <a href="https://clippingchains.com/2020/11/30/lee-cujes/" rel="nofollow" target="_blank">Lee’s 2020 Clipping Chains Interview</a> <a href="https://www.instagram.com/leecujes/?hl=en" rel="nofollow" target="_blank">Lee Cujes on Instagram</a> <h2>Other Interviews and Posts Mentioned</h2> <a href="https://clippingchains.com/2022/12/05/eudaimonia/" rel="nofollow" target="_blank">Eudaimonia: Key Pillars of the Meaningful Life</a> <a href="https://clippingchains.com/2020/03/23/shocking-headlines-of-the-2008-financial-crisis/" rel="nofollow" target="_blank">Shocking Headlines of the 2008 Financial Crisis (And Why They Are So Important Now)</a> <a href="https://clippingchains.com/2021/04/19/long-approach-withdrawal-rate/" rel="nofollow" target="_blank">The Long Approach to Being Scared of Investing</a> <a href="https://clippingchains.com/2022/10/17/can-the-4-rule-actually-work-for-early-retirement/" rel="nofollow" target="_blank">Can The 4% Rule Actually Work For Early Retirement?</a> <a href="https://clippingchains.com/2023/01/02/joy-and-tyler-black/" rel="nofollow" target="_blank">Joy and Tyler Black on Career, Money Mindsets, and Parenting</a> <a href="https://clippingchains.com/2021/04/12/roth-conversion-ladder/" rel="nofollow" target="_blank">The Bold and Beautiful Roth Conversion Ladder</a> <a href="https://clippingchains.com/2022/04/11/ep-29-frugal-professor/" rel="nofollow" target="_blank">Back in the Weeds with the Frugal Professor</a> Peruse all Clipping Chains posts and interviews <a href="https://clippingchains.com/category/about-us/" rel="nofollow" target="_blank">here</a>. <h2>Other Resources</h2> <a href="https://youtu.be/oHRucRyLCms" rel="nofollow" target="_blank">Seinfeld: The Marine Biologist</a> A recommended <a href="https://networthify.com/calculator/earlyretirement?income=50000&amp;initialBalance=0&amp;expenses=20000&amp;annualPct=5&amp;withdrawalRate=4" rel="nofollow" target="_blank">FIRE Calculator</a> (***simplified, review key assumptions!***) <a href="https://www.investopedia.com/terms/s/superannuation.asp" rel="nofollow" target="_blank">Australian Superannuation</a> <h2>Books Recommended by Lee Cujes</h2> <a href="https://amzn.to/3RcurSU" rel="nofollow" target="_blank">The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich</a> (Tim Ferriss) <a href="https://amzn.to/3HBGFkJ" rel="nofollow" target="_blank">The Magician Series</a> (Raymond E. Feist) <a href="https://climbgreece.com/leonidio-kyparissi-guidebook/" rel="nofollow" target="_blank">Leonidio &amp; Kyparissi Guidebook – 2021 Revised</a>

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

Today I’m going to take a deeper look at a topic I know is near and dear to so many of you: the housing market. And we’re going to take a particular look at home ownership. Without a doubt, the housing market has been a wild and arguably unpredictable roller coaster ride since the pandemic began. At the core, the issue is fundamental: a mismatch of supply and demand. In large part, the seed for this supply and demand mis-match was planted approximately twenty years ago, during the run-up to the Great Recession of the mid to late 2000s. Of course, it should be noted that the beginning of a historical narrative is always arbitrary. The mechanisms of the US housing market extend well beyond the early 2000s.  Today we take a journey back to the run-up to the housing crisis of the mid 2000s, the supply-constrained market of the 2010s, and how the pandemic poured gasoline on what was already becoming a smoldering fire. Finally, we investigate the great power of federal monetary intervention to fuel or snub out demand. Is now a good time to buy? I hope you’ll join me in this discussion. Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com

Today I’m going to take a deeper look at a topic I know is near and dear to so many of you: the housing market. And we’re going to take a particular look at home ownership. Without a doubt, the housing market has been a wild and arguably unpredictable roller coaster ride since the pandemic began. At the core, the issue is fundamental: a mismatch of supply and demand. In large part, the seed for this supply and demand mis-match was planted approximately twenty years ago, during the run-up to the Great Recession of the mid to late 2000s. Of course, it should be noted that the beginning of a historical narrative is always arbitrary. The mechanisms of the US housing market extend well beyond the early 2000s.  Today we take a journey back to the run-up to the housing crisis of the mid 2000s, the supply-constrained market of the 2010s, and how the pandemic poured gasoline on what was already becoming a smoldering fire. Finally, we investigate the great power of federal monetary intervention to fuel or snub out demand. Is now a good time to buy? I hope you’ll join me in this discussion. Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://clippingchains.com/2023/01/16/what-happened-to-the-housing-market/?utm_source=CC+Podcast&amp;utm_medium=CC+show+notes&amp;utm_campaign=2023HousingMarketPOD" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a>

The Great Transition of the US Housing Market

Joy and Tyler shared a common early interest: debt. With a focus on paying down this debt, Joy was able to leave an unfulfilling desk job and begin her work as a coach, relying on Tyler’s steady income as a biologist to cover their life’s expenses. As Joy’s business grew, they were able to shift focus from debt paydown to pursuing financial independence.But along the way, Joy has managed the inevitable bumps in the road of solo entrepreneurship, including crushing hours, demanding tasks outside of her primary skillset, the psychologically draining world of social media, and the emotional toll of coaching women in a particularly important phase in their lives. Looking back though, she wouldn’t trade the experience and personal growth that this path has provided.This is a really fun yet insightful story of two people with very different world views who really make it work. This is a discussion of money, personality, parenting, and the life-long pursuit of meaning, recreation, and career. Topics Discussed with Joy and Tyler BlackJoy’s career journey: leaving an unfulfilling job and becoming a coach for pregnant and postpartum rock climbersThe power of niching down in businessManaging debt and beginning a life in pursuit of financial independenceAn in-depth discussion on partner support: financial, child-raising, etc.Musings on early retirementGender roles and mindsets on career and moneyThe gamification of the FIRE movement: Who can save the most or retire the earliest?Should we feel guilty for building wealth?Personality and money mindset: logic and reason versus feeling and emotionThe behind-the-scenes reality of the solo entrepreneurial lifePursuing financial independence with three childrenThe mental toll of social media for an entrepreneurThe psychology of market volatilityThe often-unspoken support systems behind the “quit your job” or “chase your dream” internet advice.Knowing your self-worth in a career and the downsides of the job-hopping cultureSo much more! Support this project: Buy Me a CoffeeGet the newsletter: SUBSCRIBE ME!Show Notes and Links at Clippingchains.com Get in Touch with Joy and Tyler BlackCallie Joy Black on InstagramCallie Joy Black on TikTokCallie Joy Black on YouTubeJoy’s Email List SubscriptionTyler Black on Instagram Other Interviews and Posts MentionedPaige Claassen: “This Was a Big One For Me” (Clipping Chains)Steve Bechtel: The Glass is Already Broken (Clipping Chains)Mettle, By Steve Bechtel: A Book Review (Clipping Chains)EP 128: Callie Joy Black (The Nugget Climbing Podcast)Peruse all Clipping Chains posts and interviews here. Books Recommended by Joy and Tyler Black Tyler’s Recommendations:Man’s Search for Meaning (Viktor E. Frankl)The Black Swan: The Impact of the Highly Improbable (Nassim Nicholas Taleb)The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (John C. Bogle) Joy’s Recommendations:Mettle: Lessons From the Gym and the Crag in Pursuit of Better Climbing (Steve Bechtel)Breath: The New Science of a Lost Art (James Nestor)Come As You Are: The Surprising New Science That Will Transform Your Sex Life (Emily Nagoski)Why Did No One Tell Me?: What Every Woman Needs to Know to Protect, Heal and Nurture Her Body Through Motherhood (Emma Brockwell)

Joy and Tyler shared a common early interest: debt. With a focus on paying down this debt, Joy was able to leave an unfulfilling desk job and begin her work as a coach, relying on Tyler’s steady income as a biologist to cover their life’s expenses. As Joy’s business grew, they were able to shift focus from debt paydown to pursuing financial independence.But along the way, Joy has managed the inevitable bumps in the road of solo entrepreneurship, including crushing hours, demanding tasks outside of her primary skillset, the psychologically draining world of social media, and the emotional toll of coaching women in a particularly important phase in their lives. Looking back though, she wouldn’t trade the experience and personal growth that this path has provided.This is a really fun yet insightful story of two people with very different world views who really make it work. This is a discussion of money, personality, parenting, and the life-long pursuit of meaning, recreation, and career. <h2>Topics Discussed with Joy and Tyler Black</h2><ul><li>Joy’s career journey: leaving an unfulfilling job and becoming a coach for pregnant and postpartum rock climbers</li><li>The power of niching down in business</li><li>Managing debt and beginning a life in pursuit of financial independence</li><li>An in-depth discussion on partner support: financial, child-raising, etc.</li><li>Musings on early retirement</li><li>Gender roles and mindsets on career and money</li><li>The gamification of the FIRE movement: Who can save the most or retire the earliest?</li><li>Should we feel guilty for building wealth?</li><li>Personality and money mindset: logic and reason versus feeling and emotion</li><li>The behind-the-scenes reality of the solo entrepreneurial life</li><li>Pursuing financial independence with three children</li><li>The mental toll of social media for an entrepreneur</li><li>The psychology of market volatility</li><li>The often-unspoken support systems behind the “quit your job” or “chase your dream” internet advice.</li><li>Knowing your self-worth in a career and the downsides of the job-hopping culture</li><li>So much more!</li></ul> Support this project: <a href="https://www.buymeacoffee.com/clippingchains" rel="nofollow" target="_blank">Buy Me a Coffee</a>Get the newsletter: <a href="https://clippingchains.us8.list-manage.com/subscribe?u=697b31fe737ab9282f4ecbe7e&amp;id=f2f2407031" rel="nofollow" target="_blank">SUBSCRIBE ME!</a><a href="https://clippingchains.com/2023/01/02/joy-and-tyler-black/?utm_source=CC+Podcast&amp;utm_medium=CC+show+notes&amp;utm_campaign=JoyTylerBlackPOD" rel="nofollow" target="_blank">Show Notes and Links at Clippingchains.com</a> <h2>Get in Touch with Joy and Tyler Black</h2><a href="https://www.instagram.com/calliejoyblack/" rel="nofollow" target="_blank">Callie Joy Black on Instagram</a><a href="https://www.tiktok.com/@calliejoyblack?is_from_webapp=1&amp;sender_device=pc" rel="nofollow" target="_blank">Callie Joy Black on TikTok</a><a href="https://www.youtube.com/@joyblack5897" rel="nofollow" target="_blank">Callie Joy Black on YouTube</a><a href="https://adept-pioneer-8009.ck.page/" rel="nofollow" target="_blank">Joy’s Email List Subscription</a><a href="https://www.instagram.com/tyler_r_black/" rel="nofollow" target="_blank">Tyler Black on Instagram</a> <h2>Other Interviews and Posts Mentioned</h2><a href="https://clippingchains.com/2021/11/01/ep-12-paige-claassen-podcast/" rel="nofollow" target="_blank">Paige Claassen: “This Was a Big One For Me”</a> (Clipping Chains)<a href="https://clippingchains.com/2022/01/17/ep-20-steve-bechtel/" rel="nofollow" target="_blank">Steve Bechtel: The Glass is Already Broken</a> (Clipping Chains)<a href="https://clippingchains.com/2022/05/30/mettle-steve-bechtel-book-review/" rel="nofollow" target="_blank">Mettle, By Steve Bechtel: A Book Review</a> (Clipping Chains)<a href="https://thenuggetclimbing.com/episodes/callie-joy-black" rel="nofollow" target="_blank">EP 128: Callie Joy Black</a> (The Nugget Climbing Podcast)Peruse all Clipping Chains posts and interviews <a href="https://clippingchains.com/category/about-us/" rel="nofollow" target="_blank">here</a>. <h2>Books Recommended by Joy and Tyler Black</h2> Tyler’s Recommendations:<a href="https://amzn.to/3IfljKF" rel="nofollow" target="_blank">Man’s Search for Meaning</a> (Viktor E. Frankl)<a href="https://amzn.to/3G9MvHZ" rel="nofollow" target="_blank">The Black Swan: The Impact of the Highly Improbable</a> (Nassim Nicholas Taleb)<a href="https://amzn.to/3Ig8mR4" rel="nofollow" target="_blank">The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns</a> (John C. Bogle) Joy’s Recommendations:<a href="https://amzn.to/3VBuwQC" rel="nofollow" target="_blank">Mettle: Lessons From the Gym and the Crag in Pursuit of Better Climbing</a> (Steve Bechtel)<a href="https://amzn.to/3WZDQir" rel="nofollow" target="_blank">Breath: The New Science of a Lost Art</a> (James Nestor)<a href="https://amzn.to/3WE1AIZ" rel="nofollow" target="_blank">Come As You Are: The Surprising New Science That Will Transform Your Sex Life </a>(Emily Nagoski)<a href="https://amzn.to/3hYwm0l" rel="nofollow" target="_blank">Why Did No One Tell Me?: What Every Woman Needs to Know to Protect, Heal and Nurture Her Body Through Motherhood</a> (Emma Brockwell)

Joy and Tyler Black on Career, Money Mindsets, and Parenting

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