Our Financial Mistakes on the Path to FIRE | MHFI 336

Doug chats with Bill Yount (Catching Up to FI) about the reality of pursuing FIRE: nobody does it perfectly.  They discuss mistakes each of them made before and after their “financial wake-up calls,” including lack of money education, lifestyle inflation, bad insurance policies, debt, real estate blunders, predatory advisors, and the struggle to shift from aggressive saving to spending in retirement.

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Links

• Catching Up to FI
• Catching Up to FI Facebook group
• Mr. Money Mustache, “The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?”
• Altruist wealth platform
• Monarch Money
• Bill Perkins, “Die With Zero”
• MHFI Facebook group
• Doug’s site
• Check out Producer Chris’s blog: Epic Financial Journey

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

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0:00 Introduction

0:46 Meet Bill Yount

6:13 Meet Doug Cunnington

13:11 Lack of a money foundation

19:16 Whole life insurance policies

25:36 Professional advisors vs. DIY

31:03 Benefits of working with an advisor

39:11 Housing mistakes

47:36 Over-saving & learning to spend

53:23 Selling at the market bottom

56:51 The Fog of FI