444 | Spending for Happiness | Carl Jensen & Doug Cunnington

ChooseFI

Brad Barrett | Choose FI Media

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

4.8 • 5K Ratings

🗓️ 3 July 2023

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: the phases of FI, your spending framework, dying with zero, changing your anchor points, and the value of time.

This podcast offers insight to what the path to FI can look like for listeners, and while we usually speak broadly to our listeners who are all at different stages of FI, it’s important to look back, as well as look forward to see how this journey has changed for us. This week we are joined by Carl Jensen and Doug Cunnington of Mile High FI to talk about the evolution of the FI movement from when we all began this journey, as well as reflect and discuss the trends and important takeaways of where we see the FI movement going. While finding your own balance is important in all parts of life, finding balance while on the FI journey is just as important! Learning to become intentional with your spending is also important. It can be extremely beneficial to your life to learn healthier ways to spend rather than deprive yourself of some of the most important items or experiences that bring you joy! So remember, whether you are at the beginning or well on your way towards reaching your FI goal, you will evolve with FI over time and application, just as FI will evolve around you!

Mile High FI:

Website: milehighfi.com
Podcast: Mile High FI
Newsletter: Join The Mile High FI Club

Timestamps:

1:25 – Introduction
4:41 – The Phases of FI
11:18 – Building Your Life-Spending Framework
18:31 – What’s Worth Spending On
26:16 – Re-Evaluating Anchor Points
33:43 – The Value of Saving Time
42:22 – Dying With Zero
51:02 – Why Wait For Death To Help Your Loved Ones Fiscally?
56:32 – Buying A Concert
59:30 – Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and Resources:

Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Keep learning or start a new side hustle with one of our educational courses
Commission-Free Investing with M1 Finance

Transcript

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0:00.0	Hello and welcome to Choose a Five.
0:01.8	Today on the show I have my friends Carl Jensen and Doug Cunnington from the Mile High Five podcast.
0:06.8	And they reached out to me about a conversation we've been having just in person at the
0:12.1	Economy Conference and over email and things like that about an extension of the skill of
0:18.9	spending conversation that we first had with Pete Mr. Money Mustache on episode 432.
0:25.0	And we're talking about spending for happiness.
0:28.6	And this being the logical extension of where the conversation is going in the financial
0:33.8	independence community.
0:35.1	And we've seen many phases over the fairly short 10 to 15 year modern five movement.
0:42.0	And it seems like this is where many of us are thinking and many of us are talking about
0:47.5	this spending for happiness.
0:49.4	And let's be clear, this is not a conversation of three rich 40 something guys sitting around
0:54.5	talking about extravagances and how we can blow our money.
0:57.8	This is what I believe is three guys who have been very intentional with their money
1:02.8	throughout their adult lives and continue to be intentional.
1:06.0	But we're learning how to spend for happiness instead of optimizing every dollar for savings
1:10.8	rate or keeping up with the Joneses in the five community.
1:14.1	So I think this is going to be a wonderful conversation and with that, welcome to Choose
1:17.9	of I Carl Mr. 1500 people might know you as so you are called Jensen Mr. 1500.
1:34.5	Welcome back.
1:35.5	Yeah, Brad.
1:36.5	Thank you so much for having us.
	...

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