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There should be more guitars in the picture. Where are all your guitars?

Always funny

My dad only has to take out 6% of his IRAs even at age 86, and that does not put him at a high rate. He also has only taken the minimum his entire life.

I was really disappointed with New Retirement - at least the trial version was not nearly detailed enough to do real scenarios.

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I am not doubting the RMD problem, but just to note that even my 86 year old Dad only has to take out 6% this year, so it still assumes he assumes now he is going to live to over 100, so it never pushes you to withdraw what I would consider a lot really until you're in your 90's. In fact it is hardly more than the 4-5% rule of thumb even at that age.

They don’t have anywhere near enough for Coast FIRE.

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Happy to see Carl as part of this podcast. I believe this was recorded a while back. Do they have a mortgage (or) is it paid in full?? I see they have solid investment, saving something for investment properties?? As far as investment goes I prefer High yield savings account over VTSAX as this is 100% safe and I'm little bit risk averse as you are

This was excellent! Thank you, Adam.

Hello everyone. Adam here. To further clarify, our journey from zero to 1 million was August 2011 to August 2021. My wife transitioned from full-time to part-time work in May 2015. We have averaged 85K/year of W-2 income since August 2011 and our net worth is currently around 1.7 million. Doug did a great of editing my long stories. I hope you enjoyed it. I had a blast.

I am wondering then, what is the point if you have a lot of money and you are already over 50 y old, to be THAT much frugal !?

MMM is doing the opposite of most people who spend a lot then retire to spend little. Pete is spending more on luxuries now that he’s retired. Front of the airplane, lower level seats etc…

Damn! I wanna hang out with MMM and his pawsy. I'll bring the wine!

Really enjoyed today’s episode!

Great hearing an update from MMM

Excellent episode Doug and Adam, wow, I mean really good! I could listen to you and Adam for days. Thanks to both of you.

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Great episode guys. The fulfilment after FI piece I’ve noticed is a consistent recurring theme for those that have hit their number. I’ve gone through it and so have all the other FI people I’ve interviewed. Thanks for shining some light on it. Turns out it’s a very critical component in lifestyle design.

LOL. Can't figure out why people still use gas-powered engines? Bro drank too much of the Bud Light.

Carl! Asparagus! Like the old days!

Great topics!👍

How do you do it?! That is a quarter to half of my spending. Can you give more details and more information on that health plan?

Years ago I was broke. Had to figure out how to live on about half of what i thought i needed. It forced me to line up all my needs and wants and rank them according to how much i valued them. I then literally had to value them, by putting a monetary amount next to each one. I refined the numbers next to each item and then dropped all of the items at the bottom of the list until the sum of what remained equaled my income. It was an incredibly important exercise. Made me think about always aligning my money with what i actually value. And since I value my freedom and independence, FI became a massive priority.

She said something very profound. It’s so true, when your money values align a lot of your important values also align. Actually she said a lot of really profound things.

I MUSTACHE you a question 👨

I have the will and revocable trust setup and still found a lot of useful info here. This is a very important conversation that everyone in FI community (especially those with kids) need to listen to.

Maybe optionally employed would be a better term than retired????😂😂😂

Love the conversation. I told Gwen that Pete has a way of convincing you to be better and she very much agreed!

MMM is just the original! Awesome guy! Greetings from Germany

I have a monthly bookclub with women that initially were friends of my children. We have an amazing group that somehow have similar interests - we all work (with 2 x early retired now). We have been meeting for 10 years now and made lifelong friendships. We rent a house for a weekend every year and it has been great! It is probably a little more luxurious than MMM’s one but still fine between 9-10 of us. I was worried in the beginning about the food costs but everyone wants to cook and we eat all out meals at “home”. We have a roster and people love planning what they will cook for the group.

uhhhh 'muhh tech' and 'muhhh AI' (that makes up 80%+ of muhhh ESG indexes) is some of the most energy INTENSIVE aka fossil-fuel burning enterprises in human history

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Excellent stuff - really good and mentally challenging. My question/concern about e-bikes is this - what happens if you crash an e-bike at 30 mph? I'm in Austin regularly. Lots of bikers in Austin - and lots of fatalities every year.

Woo hoo!

Excellent interview Doug with Pete! Thanks for skipping the intro part and getting right into the interview. It was fun to hear Pete answer Mile High community questions. Also - pretty crazy to hear the yearly spend.

Great! Thanks!

I know it's personal but i'm wondering if his divorce had anything to do with finances?

Another killer episode! Love to hear from MMM once and a while too!

Nice to hear and update from Pete

The man, the myth, the mustache…

Thanks for answering my question. My question was more philosophical than current market or politics. How would Pete keep calm or keeps calms when world is falling apart? May be he meditates or don’t care about anything as he is great at controlling his emotions. Anyways great show as always

THE G.O.A.T IS WITH US BOYS!

GOOD TO SEE YOU PETE

Amazing thank you

Holly cow Vivi, thanks for sharing your life story. I can really relate. You are awesome for sharing your story and helping us all learn.

Haha 😂that’s right.

Thanks for keeping the podcast going while Carl is on a sabbatical. Keep up the great entertainment and information!

Miss ya bro 😂

You guys have the best rapport. Your conversations always make me laugh and feel like I'm the 3rd quiet friend hanging out with you both. I hope we get more of these 'learn nothing' hangout type episodes. Thanks for the great podcast.