439 | Adjusting to Life After FI (Before You Get There) | Chris Terrell

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 29 May 2023

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode: success after FI, finding purpose, owning your time, investing in health, and spiritual pursuits.

While reaching your FI number and subsequently retiring is an amazing achievement in itself, what are you supposed to do with yourself after getting there? Well, figuring that out is also a big step you are going to have to take on your FI journey. This week, we are once again joined by Chris Terrell to discuss the ways you can fill your time after achieving FI, and how to identify what gives you purpose in your post-work life. Earning back your time is only half the battle, putting that time to good use is up to you and you only!

Timestamps:

1:20 – Introduction
3:02 – Success After FI
9:01 – What Do You Want To Do In Retirement?
16:06 – Finding Purpose
22:02 – Prioritizing Important Relationships
27:46 – The Benefits Of Owning Your Time
31:28 – Investing In Your Health
41:24 – Spiritual Pursuits and Volunteer Work
47:09 – Unstructured Time, Calendar Tyranny, and Work?
56:59 – Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and Resources:

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Commission-Free Investing with M1 Finance

Transcript

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0:00.0	Hello and welcome to Choose a Fire today on the show. I have my good friend Chris Terrell back for another episode
0:06.0	I introduced him on episode 429 where we talked about five frugal hobbies
0:11.4	And I think that convinced more than a couple of you both with strategy board games and pickleball more interestingly as Chris is a
0:18.8	avid avid pickleball player and
0:21.1	Today he's back and I suspect this is gonna be the second of many episodes because we have so many interesting things to talk about
0:27.9	But we're talking today of you've reached five and what does it look like to make that adjustment?
0:33.8	What does life after five look like Chris left his job in April of 2020?
0:38.7	Which of course as we all know was a pretty interesting time to do so amidst the start of the COVID pandemic
0:44.4	But preparing for five is a multi-year journey truly and we've talked about that many times here in the podcast that you need to prepare for this
0:53.7	This is not just a zero or one situation of oh, I've hidden number on a screen
0:58.6	I'm gonna stop working and expect my life to be roses and kittens and unicorns. It doesn't work that way and
1:05.8	Chris has just a really interesting perspective on this so really excited for this episode with that welcome to choose a fire
1:12.8	I
1:20.1	Bread thanks so much for having me back really looking forward to our discussion today
1:23.9	Yeah, Chris. I am super excited for this. I think this is such a critical
1:28.9	Conversation because I think a lot of people especially when they first get into fire they get so excited about about the numbers and
1:37.3	Rightfully so to some degree, right? It's hey for the first time you have a little space financially
1:42.8	You maybe eventually get to that point where you have some freedom you have that that elusive FU money, right?
1:48.5	The the freedom unlimited money is Jonathan O's used to joke and you have that power and it feels good
1:54.0	And I think people then kind of extrapolate that too. Oh, this is just about the numbers and oh
1:59.9	Won't my life be so fantastic when I hit that dollar figure that denotes I'm at five
2:05.9	Whatever that means to you 25 times your annual expense is 30 33 times whatever it may be
	...

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