The Sunday Best (7/21/2019)
Every week, I scan hundreds of headlines, read dozens of posts, and bring you the best of the best to save you time and mental energy.
Financial Independence (FI) is a primary focus, but it’s an awfully broad topic. I tend to approach FI and early retirement from a fatFIRE perspective and through the lens of a physician, so expect to see those biases in the selected articles.
For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!
The Sunday Best
Some people just don’t know when to quit. Seriously. Take Cubert from Abandoned Cubicle, for example. He was supposed to be be done by now and hanging out at breweries with me at the Tip o’ the Mitt where he’s got a vacation rental. Instead, he remains a cubicle fugitive. Why? Early Retirement Countdown Reset (Again).
Amy from Life Zemplified didn’t waffle on her decision. And, yes, she does hang out with me at northern Michigan breweries. We were at this one just yesterday with our spouses and the Adcocks, in fact. How’s life since retirement? After The Cubicle: Life Is Good, Just Not Quite Zemplified.
Did somebody say waffles?!? The Waffles on Wednesday published their first blog post in nearly two months. What took so long? They were busy downsizing, packing up, and preparing for a sabbatical of indefinite duration. They’re not calling it FIRE but not saying it’s not in Turning the Page.
The WoWs must be Bob Seger fans with a title like that. Or maybe Metallica? Both? One thing I do know is that there are a lot of Seger fans in Michigan. I get that he’s from here and all, but do you really have to play him every hour on the hour? I can scan through the dial and hear Turn the Page, Against the Wind, and Old Time Rock’n’Roll on three different stations in this place. I don’t dislike the guy or his Coors Light band, but I miss being back in Minnesota where we overplayed Bob Dylan and Prince.
The physician known as The Happy Philosopher (not to be confused with the happy Physician Philosopher) also posts sparingly these days, but when he does come up for air, he has something important to say. In this post, the part-time radiologist explains Why a Physician Should Work Full Time.
What if you don’t want to work full-time? Is it better to work part-time now or later? I worked out the math in this post, and Passive Income MD worked through the psychological and social considerations in Work Less Now or Work Less Later, What’s Better?
Did somebody say Physician Philosopher? Oh, yeah… that was me. He’s also talking about now or later (not to be confused with the candy that’s like really hard Starburst they call Now & Later). Live Now or Save for Later: The Now or Later Fallacy.
Retire now with $1 Million and you could have $150 Million later. That’s what Michael Kitces of Nerd’s Eye View came up with as a best-case scenario in The Problem With FIREing At 4% And The Need For Flexible Spending Rules.
Everyone is talking about FIRE these days. When DaveRamsey.com published a piece from Chris Hogan, I had to read. The article is misleading (we’re all extremely frugal), promotes his book (Everyday Millionaires), and doesn’t actually refer or link to anyone in the FIRE Movement, but it does make some valid observations. What Is the F.I.R.E. Movement?
The FIRE Movement is here to stay. People like to say it’s all because of this amazing bull run we’ve had, but nothing we’ve seen in this millennium has even cracked the top 10 in annual returns. Ben Carson gleans some wisdom from those even better days in Lessons from the 10 Best Years in Stock Market History.
Do you miss Rockstar Finance? Or enjoy this weekend roundup? Get top-notch curated personal finance articles every day from my friends Zach, Michael, Ty, J.D.,and Jim:
One article recently featured on Apex Money came from this site. If you like your Roth IRA, you should love a taxable account. How a Taxable Brokerage Account Can Be as Good or Better Than a Roth IRA.
On Thursday, we had a somber reminder that cancer attacks from many angles. The Financial Burden of a Rare Cancer
Which Assets Should You Spend First in Retirement? The White Coat Investor asks a good question and gives great answers.
I Bought the Farm
Well, not the whole farm, but I do now own the equivalent of 2 acres of corn and soybean producing farmland, purchased via AcreTrader.
I grew up in a small farming community in Southern Minnesota, so it’s pretty cool to be able to quickly and easily invest in income-producing farmland in this manner.
The farm I invested in is currently producing crops (a.k.a. income) and I expect farmland to continue to be valuable. Everybody’s gotta eat!
Like other similar investments in other industries, you do need to qualify as an accredited investor to invest with them, meaning an income of $200,000 a year as an individual / $300,000 as a couple, or a net worth excluding your primary home of $1 Million.
If that’s you, please consider looking into AcreTrader and other crowdfunded investment opportunities. Registering with your email address just to view available opportunities often leads to a referral fee, supporting our charitable mission.
The FIRE is Spreading
Yesterday, we had a little afternoon meetup with bloggers Steve & Courtney Adcock of Think Save Retire & Astreaminlife, Amy & John Black Blacklock (Amy has Life Zemplified, and roles in Women Who Money and Womens Money Talk. We were also joined by a local reader who is a regular contributor to the fatFIRE Facebook group.
While it was one of the warmer days of the summer, it’s probably 15 to 20 degrees cooler than much of the rest of the nation, and of course, we had refreshing craft beers to chill with. The Ka Hoki Punch was exceptional, and I’ve got to get my free beers in before I’m no longer an investor — I’ll have more to share on that at a later date.
There was a couple there with a few kids about the same age as ours on the patio below, and my wife invited them to join us. When they realized we were a mix of healthcare workers and early retirees, the father told me he’s been following a couple of blogs that we might have heard of.
The first one? Physician on FIRE. Yep — heard of it. Also The White Coat Investor. I’ve heard of that one, too, but I love that he mentioned mine first. That rarely happens.
I’ve had a few moments like that where someone mentions my blogs or figures out I’m the Physician on FIRE — including once in Mexico and another time with our 401(k) rep, and it never gets old. It’s good to know that the word is really getting out there and that people are getting value from the site.
We could have stayed at the brewery all day, but the threat of a thunderstorm had us moving on mid-afternoon. The Adcocks had to truck it across the Mackinac bridge, and it can be closed to trailers in inclement weather. We’ll likely meet up again in the U.P. before they start to make their way west.
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Have an outstanding week!
-Physician on FIRE