Millennial Revolution is in The House! | Kristy Shen, Bryce Leung & Little Matchstick | 93
Catching Up to FI: Financial Independence for Late Starters
Release Date: 08/25/2024
Retirement Remix: Crafting Financial Futures with Purpose | Christine Benz | 117
Catching Up to FI: Financial Independence for Late Starters
In this episode we welcome back Christine Benz, director of personal finance and retirement planning for Morningstar. Christine is one of the most respected thought leaders on the topic of retirement and shares insights from her new book, . We discuss the importance of preparing for retirement well in advance, building social networks, the significance of diversity in relationships, and more. Today's show is packed with valuable advice and a must listen for anyone approaching or in retirement. 🔗 🔥🔥🔥 Check out our new partners and...
info_outline
Value-Based Spending: The Latte Chronicles | Jen Smith & Jill Sirianni | 116
Catching Up to FI: Financial Independence for Late Starters
In this episode, we talk with Jen and Jill from the Frugal Friends Podcast and authors of the new book They believe the secret to saving money isn’t in coupons and sales, it’s in identifying what you value and pursuing it unapologetically. We chat about how value-based spending can meet higher emotional and psychological needs beyond mere financial savings. The Frugal Friends also share personal stories of overcoming debt, understanding the 'real' needs behind our purchases, and how frugality can be both sustainable and enjoyable. 🔗 🔥🔥🔥 Check...
info_outline
The pURPOSE Code | Jordan Grumet | 115
Catching Up to FI: Financial Independence for Late Starters
In this episode we are joined by the multi-talented Jordan Grumet, a hospice doctor, storyteller, and the host of the award-winning 'Earn & Invest' podcast. Jordan shares insights from his latest book, 'The Purpose Code', diving deep into the nuances of Big 'P' vs Little 'p' purpose, legacy, and finding true happiness. From his personal journey from medicine to financial independence, to discussing meaningful legacy and generational growth, Jordan offers valuable advice for late starters. Listen in to discover why Little 'p' Purpose might just be the key to a joyful and fulfilled life, and...
info_outline
Weathering Financial Storms | Kristen Knapp | 114
Catching Up to FI: Financial Independence for Late Starters
After 28 years of playing the weather girl on TV, Kristen Knapp moved to part time work to follow her passion for travel planning for the financial independence (FI) community. She shares her fascinating backstory of growing up in poverty, dealing with childhood money trauma, becoming a successful broadcast meteorologist, and ultimately achieving FI. As someone who loves to travel, loves to plan travel, and loves spending time with the FI community, she thought why not combine those things? So, she launched a new venture called 'FI Friends Travel' which offers travel experiences that bring the...
info_outline
FINCON Jeopardy | Justin Peters, Joel Larsgaard & Justin Brown-Woods | 113
Catching Up to FI: Financial Independence for Late Starters
We love games so today we're bringing you a podcast takeover and having some fun with 'Money Jeopardy'! This was recorded live at FinCon 2024 (a conference for personal finance content creators) with 'The Struggle is Real' podcast, hosted by our friend Justin Peters. He’s joined by Jackie Cummings Koski (your co-host on 'Catching Up to FI'), Joel Larsgaard from 'How to Money' and Justin Brown-Woods from 'Price of Avocado Toast' to play! The contestants will be choosing questions from 4 categories: Binge or Cringe - are you in or out on this personal finance topic History of Money - a...
info_outline
Tactical Tips and Tripwires: The DIY Financial Planner's Guide | Cody Garrett | 112
Catching Up to FI: Financial Independence for Late Starters
Happy Holidays! Join us for this lighthearted chat with a longtime friend of the show, Cody Garrett, CFP. He shares his list of the 24 common DIY investment mistakes that might be hindering your path to financial independence and some tips on how to fix them. He steps us through the list which includes things like underutilizing employer benefits, misunderstanding how the 4% "rule" should be applied, and assuming health insurance coverage is expensive in early retirement. Cody is the founder of Measure Twice Money and Measure Twice Planners, and known for his unique advice-only planning...
info_outline
Mr 4% is now Mr 5% | Bill Bengen | 111
Catching Up to FI: Financial Independence for Late Starters
In this episode we welcome the legendary Bill Bengen! He is the creator of the infamous 4% rule that is referenced in any quality conversation about retirement and withdrawal rates. There's been spirited debates and lengthy discussions about Bengen's research but there is no one better than the man himself to weigh in on what he thinks about it 30 years later. We talk about the evolution of Bengen's research, his thoughts on market timing vs. managing risk, and he gives us a preview of his upcoming book geared toward consumers. 🔗 Thank you to our sponsor:...
info_outline
Say Cheese!: The Retirement Spending Smile | David Blanchett | 110
Catching Up to FI: Financial Independence for Late Starters
Today Bill and Jackie are joined by another genius in the world of retirement planning research, David Blanchett, PhD, CFA, CFP. In his role at PGIM, David is responsible for Target Date Funds and Retirement Spending Portfolios. In this episode he discusses redefined retirement concepts, the myths surrounding the 60/40 portfolio and some practical adjustments of the 4% rule. He also explains the 'retirement spending smile,' and retirement strategies for late starters. 🔗 Thank you to our sponsor: Resources mentioned on the show: 🌐 ...
info_outline
Childfree Wealth and Life Planning | Dr. Jay Zigmont | 109
Catching Up to FI: Financial Independence for Late Starters
In this episode we turn the tables as Bill joins Dr. Jay Zigmont, CFP on the Childfree Wealth podcast. Bill shares his journey as a late starter physician who lived largely a paycheck-to-paycheck existence until waking up at age 50. He now co-hosts the 'Catching Up to FI' podcast to help other late starters. Jay is the author of the upcoming book '' and the founder of Childfree Wealth, a financial planning firm that addresses the needs of childfree people in a way that traditional financial companies don’t. Jay and Bill cover topics like investing, long-term care, and preparing for...
info_outline
Year-End Financial Wrap-Up, Tips, and Resolutions | Eric Simonson | 108
Catching Up to FI: Financial Independence for Late Starters
Hard to believe that 2024 is almost over but before we close it out, we have some end-of-year financial tips with special guest Eric Simonson, CFP and CEO of Abundo Wealth (an advice-only financial planning firm). Eric shares insights on maximizing different types of contributions, FSAs, charitable donations, and other tax strategies. There are a few things you’ll want to check off your financial to-do list before December 31st; some have a true deadline, and others are smart things you should review every year. Eric also clues us in on a unique service the firm offers- 'travel...
info_outlineSubscribe and Watch on YouTube
Kristy Shen and Bryce Leung are the dynamic duo behind the Millennial Revolution blog and movement. In this insightful episode, Kristy and Bryce discuss their journey from house-hunting to achieving Financial Independence (FI) and retiring in their early 30s. They delve into why they chose to reject traditional housing and career advice, their innovative 'POT Score' (Pay Over Tuition) method for evaluating education costs, and how they handle investments to maintain their FI lifestyle—despite new challenges like parenting. Discover their interesting perspectives on scarcity vs. abundance mindset, and how the FIRE approach has impacted their personal lives, relationships, and travel adventures. This episode is packed with financial wisdom and real-life experiences that will inspire late starters and aspiring FI enthusiasts alike.
Thank you to our sponsors:
Abundo Wealth: Advice-Only Financial Planning for Everyone
Personal Finance Club: Use code CUTOFI to get $30 OFF any course or PFC investing course only
Measure Twice Money: $100 OFF "Create Your Own Financial Plan" Comprehensive Video Course
Nectarine: Advice-Only Financial Advisors (Catching Up to FI will be compensated by Nectarine if you use our affiliate link, which creates an incentive and conflict of interest. We are not current clients or employees of Nectarine.)
Boston Institute of Finance Personal Growth Track: Enter code catchingup to get 5% off any “Personal Growth Track” course or package
🕒 Time stamps:
00:00 The Unexpected Path to Financial Independence
00:24 Challenging Traditional Financial Advice
02:20 Introduction to the Guests: Christy Shen and Bryce Leung
04:53 Parenting and Financial Independence
05:52 Financial Strategies for Raising a Child
07:19 The Importance of Geographic Arbitrage
09:42 The Pay Over Tuition (POT) Score Explained
12:14 Balancing Financial Independence with Family Priorities
17:36 The Impact of FIRE on Personal Relationships
19:08 Scarcity Mindset as a Superpower
25:52 Overcoming the Fear of Investing
28:15 Investment Strategies for Canadians
34:07 Mitigating Sequence of Return Risk
36:32 Navigating Early Retirement Challenges
38:50 Understanding Yield Shield Components
45:57 Philosophy on Housing and FIRE
50:46 The Rule of 150 for Housing Costs
56:09 Adapting and Overcoming Challenges
01:00:19 Diversity in Books and Personal Finance
01:03:14 Final Thoughts and Reflections
Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.