Bogleheads – Life After FIRE

Bogleheads - Life After FIRE

Last year, I published a podcast with one of my favorite financial writers, Morgan Housel.

You may remember that the episode was a recording of a Bogleheads meeting and the interview was actually conducted by my buddy, Gouri.

Well, Gouri recently invited me to join the Bogleheads to talk about life after FIRE and today’s podcast episode is a recording of that discussion!

Big thanks to Gouri and the Bogleheads for making this happen and hope you enjoy it!

Listen Now

Highlights

  • How your views on spending change after you retire
  • Why you should treat FI as a spectrum rather than a finish line
  • How to plan for all aspects of post-FI life
  • The unexpected benefits and challenges of early retirement

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Full Transcript

Coming Soon!

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10 comments for “Bogleheads – Life After FIRE

  1. Jim McG
    November 15, 2021 at 7:37 am

    Some nice reflections on becoming FI and RE. I particularly liked your observations on the challenge of spending money you’ve saved after a lifetime of being brought up to be focused on frugality. I’ve forced myself, having retired at 57 this year, to cash in and spend some of my investments on a monthly basis. I cashed in about £2k a month, whether I needed it or not, and needless to say about half of that is still sitting in the bank. I’m going to take care of that by replacing my car, but I have to say it’s been nice having the cash cushion too. As you noticed, suddenly you’re keener to buy a meal for friends or take a weekend away when you allow yourself to do it, knowing that you took the cash out with the specific intention of enjoying spending it. It’s made me a bit more relaxed about using money as opposed to just hoarding it!

    • The Mad Fientist
      November 16, 2021 at 6:07 am

      Yeah, that sounds like what I’m doing! I’ve calculated how much our portfolio would allow us to spend each year (based on a 3.5% withdrawal rate) and this year I’m actually forcing myself to spend all of that.

      It’s really been great being more relaxed (and more generous) so I think I’ll keep doing that from now on.

      My dad is so confused because he doesn’t understand how I went from being the cheapest person he knows to the now being the most generous, haha!

      • David Andrews
        November 30, 2021 at 8:22 am

        It’s a concern of mine too, planning for the switch from accumulation to decumulation.

        When so much of your previous income has been devoted to saving and investing it can be a bit of a head scratching situation when you find yourself with more free cash and try to force yourself to spend it.

  2. Caleb D
    November 15, 2021 at 3:49 pm

    Every life needs a mission. Something you are shooting to accomplish. That is how we are hard-wired. We can’t just live for recreation, but need some feeling of productivity. If money to be able to pay the bills isn’t a big motivation, something else needs to be. Right now, I am trying to set up my plan for life after. I would love to have several acres with a hobby farm to raise my 2 kids on. Right now, that’s where I’m heading.

  3. Alex N.
    November 15, 2021 at 6:38 pm

    Thank you for your always enjoyable insights.

    It is very interesting that you and a few others repeatedly regard a house as “luxury”. Perhaps, if it is in Coronado or Malibu, CA then yes. In our circumstances (US West Coast), we consider owning a house outright is the only possible way to control the constantly rising housing costs. If you rent and your lease is up for renewal, and if the owner decides to sell the property or convert it to condos, you will have to move out. You are guaranteed to see the rent spiraling out of control and your carefully planned budget will be blown to bits. This “theory” had been proven true in the last 3 years on the West Coast of the US. I see it and read about it practically every week. Therefore, if you want to stay in the area of your choosing buying the house and owning it at a controlled 3% annual property tax hike is essential for early or any retirement.

    Additionally, by selling our old house, in which we lived for 25 years in LCOL suburbia, and moving into our current house that we built, accelerated our FIRE move roughly by 4 years. Hence, I must respectfully disagree that a house is a bad investment. On the contrary, I believe if it is done right (with all the Bogleheads frugal considerations), this is one of the few legal ways for the mortals like us to “get rich slowly” – enjoy a tax-free check for the appreciation of your property over time. Just sharing our personal experience that leads us to a strong opinion on the matter.

    And yes, the UK has a much better safety net. Good luck!

  4. Ian
    November 16, 2021 at 2:51 am

    Hi Brandon, great pod, enjoyed this one. Some interesting thoughts on how seeking out uncomfortable situations. I guess that striving instinct is hardwired into us on a genetic level as a survival mechanism so when that push to earn money disappears it can be tricky. Also the comment on how work can be the thing that you can blame unhappiness on and to be careful not to transfer that to other people when you leave work was interesting

    The pod has been a big inspiration for me on the FI journey and also for me to get on with a creative project I always thought I couldn’t do (was a software developer as well I didnt think I was creative)

    Just curious you mention a book that you read that helped with your music project what was that?

    • The Mad Fientist
      November 16, 2021 at 6:09 am
      • Ian
        November 18, 2021 at 4:35 am

        Cheers Brandon, yes I’ve read it, its fantastic. I found “74 creative strategies for electronic music producers” really helpful with specific tactics. How is the music producing going, have you got plans for more releases?

  5. Bill s
    November 23, 2021 at 6:29 am

    Been listening to a few of your shows. Totally embrace the spirit of FI, but so much of the discourse seems to pre-suppose that everyone’s job is miserable and they can t wait to leave. Have you done any FI shows that combine FI with people who get up and go to jobs and careers they like? Also, I don’t see much about FI and raising families which is obviously different than just for one’s self. Anything there?

  6. Fuse
    November 25, 2021 at 2:01 am

    Any chance the transcript might be coming soon? I’d really like to read this, and I can’t listen to the podcast sadly.

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