Social Security Made Simple | Mike Piper | 054
Catching Up to FI: Financial Independence for Late Starters
Release Date: 01/07/2024
Case Study: The Real Numbers That Told Her She Could Quit her Job, Now! | Lisa B | 161
Catching Up to FI: Financial Independence for Late Starters
We ā¤ļø Case Studies! Nurse practitioner and mom of three, Lisa, opens up and shares what's in her wallet, and her heart. In this episode we dive into her fascinating late-starter story and financials. She was also this year's brave Case Study at the EconoMe conference and revealed all her numbers in front of a live audience to get crowd-sourced feedback in real time. What transpired afterwards was powerful- she quit her day job and handed in her clinical badge to enjoy a sabbatical she had been longing for! With a little help from some Boldin financial modeling and a Nectarine hourly...
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The $1,000 Gift From Jonathan Clements To 18-Year-Olds | Bill Bernstein & Christine Benz | 160
Catching Up to FI: Financial Independence for Late Starters
Morningstar's Christine Benz and investing-history legend Dr. William Bernstein announces the Jonathan Clements "Getting Going on Savings" Initiative. In 2024, Jonathan was diagnosed with a terminal illness and decided to use the proceeds from a final book to kick-start a new program that will directly help fund Roth IRAs for young adults (especially from low-income households) to the tune of $1,000 each. The John C. Bogle Center for Financial Literacy, a 501(c)(3) non-profit, is assisting with the project and 'Catching Up to FI' is proud to spread the word by replaying this conversation that...
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Forget the Corporate Ladder, Hereās How to Climb āThe Wealth Ladderā | Nick Maggiulli | 159
Catching Up to FI: Financial Independence for Late Starters
Nick Maggiulli is the data-driven creator of the blog 'Of Dollars And Data', Chief Operating Officer at Ritholtz Wealth, and author of the newly released book 'The Wealth Ladder'. He joins us on the show to break down his six-level wealth ladder and openly shares some of his steps and missteps as he moved up on his own wealth-building journey. In this episode, we discuss these financial insights he shared in the book: Six Wealth Levels (<$10 K to $100 M+) 0.01 % Daily-Growth Spending Rule Grocery / Restaurant / Travel Freedom progression Cookie-cutter asset allocation across ALL accounts...
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Keeping Up With The Joneses | Bill Yount | 158
Catching Up to FI: Financial Independence for Late Starters
Bill hops onto Jesse Cramer's 'Personal Finance for Long-Term Investors' (formally The Best Interest) podcast. Along with some of our favorite content creators, he shares his crazy spending screw ups-- and the life lessons that followed. Stories from: Bill Yount (Catching Up to FI) Jesse Cramer (Personal Finance For Long-Term Investors) Diania Merriam (EconoMe Conference & Optimal Finance Daily) Justin Peters (FI Minded, formally The Struggle is Real) Jordan (Doc G) Grumet (Earn & Invest) Joe Saul-Sehy (Stacking Benjamins) Jeremy Schneider (Personal Finance Club) ...
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Do This To Simplify Your Next Financial Review... (Part 2) | Jon Luskin | 157
Catching Up to FI: Financial Independence for Late Starters
Bogleheads favorite Jon Luskin, CFPĀ® drops in for part 2 of his masterclass on embracing simplicity. He specializes in providing hourly advice to do-it-yourself investors and is a long-time advocate of simple, low-cost investing. In this second part he shares with us: Simple Investor Policy Statement (IPS) All-in-One Funds: target date and balanced/life-strategy funds as "default simple" solutions Disability, life, and (if appropriate) long-term care insurance This is the second part of a 2 part episode. === VOTE FOR US: PLUTUS...
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Do This To Simplify Your Next Financial Review ... (Part 1) | Jon Luskin | 156
Catching Up to FI: Financial Independence for Late Starters
Bogleheads favorite Jon Luskin, CFPĀ® drops in for a masterclass on keeping money moves āso dull they sparkle.ā He specializes in providing hourly advice to do-it-yourself investors and is a long-time advocate of simple, low-cost investing. In this episode he shares with us: Why every late-starterās to-do list should begin with an emergency fund and Social Security game plan before touching their asset mix How low feesānot āsexyā altsāmake numbers grow His soup-to-nuts review (including insurance gaps, estate docs and Investor Policy Statement) How simplicity wins This is...
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Q&A: Tackling Listener Questions | Bill & Jackie | 155
Catching Up to FI: Financial Independence for Late Starters
You asked and we answered! In this episode we tackle listener questions with more than just a one-sentence responseā¦ we go deeper and give you answers with our thoughtful insights, ideas and considerations important to late starters. These are the questions we cover on todayās show: ā Billās costly mistake with whole-life insurance; what should you do instead? ā How does the $19,000 annual gift tax exclusion work? ā Do I have too much in cash as Iām approaching retirement? ā Iām new to investing and pay someone to manage my 401(k). I also want to start a Roth IRA, is...
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Learn This or Never Retire | Bill & Jackie | 154
Catching Up to FI: Financial Independence for Late Starters
On this mid-week episode we join the upbeat creators of 'Rebel Finance School', Alan and Katie Donegan, for a turbo-charged pep rally aimed at every late-starter who's ever whispered "it's too late for me." We kicked off the Donegans' free 10-week course that's helping thousands around the world on their journey to FI. š© NEW! š š ā Like what you hear on Catching Up to FI? Support the show at šļøWe love hearing from you! Record a Voice Message with your feedback or question ===DEALS & DISCOUNTS FROM OUR TRUSTED...
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Mini Retirements, Sabbaticals, Career Breaks- Yes Please! | Jillian Johnsrud | 153
Catching Up to FI: Financial Independence for Late Starters
Jillian Johnsrudāmini-retirement evangelist, mother of five, and author of 'Retire Often'āreturns to show us why pressing pause can be the ultimate career accelerator. In this episode she explains the three hallmarks of a bona-fide mini retirement and the three ways to snag one: 1ļøā£ Negotiate a sabbatical 2ļøā£ Slot it between jobs 3ļøā£ Pounce when life throws an unexpected layoff or family crisis š© NEW! š š ā Like what you hear on Catching Up to FI? Support the show at šļøWe love hearing from you! Record a Voice Message with...
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Late Start, Big Lessons: Early Regrets & Mistakes of a (FI)sician | Bill Yount | 152
Catching Up to FI: Financial Independence for Late Starters
On this mid-week episode, we're switching it up again. This time Bill joins the 'Finance for Physicians' podcast with host Daniel Wrenne, CFPĀ®. In this vulnerable interview, Bill owns up to every late-starter mistakeācredit-card splurges, 'free' advisors, and lifestyle creep after a twin-sized home upgrade. Then he slings real-world antidotes: pause-plan-pivot, backward budgeting, downsizing the McMansion, and letting Social Security's āinflation-proof annuityā finish the job. Bill's best advice is that physicians should treat money like they treat medicineālearn the language,...
info_outlineMike Piper, author of the book, "Social Security Made Simple", helps Bill and Becky navigate through the many nuances of Social Security. They discuss everything from claiming strategies to survivor benefits as well as taxation and the implications of delaying benefits. Mike sheds light on the often overlooked aspect of spousal benefits, emphasizing that delaying your benefits can help boost the household income for as long as either spouse is alive. The team also explores the complications that can arise from differing ages and earning histories of spouses.
Mike has numerous helpful resources available at his blog, Oblivious Investor, that simplify how Social Security works and how individuals can make informed decisions about when to file for benefits. Whether you're single, married, or thinking about retirement planning, this episode offers important insights to help you understand and maximize your Social Security benefits.
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