The Sunday Best (8/4/2019)
Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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
The Physician Philosopher and Ether to FI each started their careers as anesthesiologists two years ago. E.T.F. published this recent net worth update, while TPP published what will likely be the final one we’ll see. The Last Net Worth Update: 2 Years Later.
Big ERN, Ph.D. of Early Retirement Now stopped working a year ago, but that hasn’t hurt his net worth one bit. Despite a year filled with international travel, he’s worth more today than he was last year. Happy FIRE-versary! Reflections after one year of early retirement.
Dr. Cory S. Fawcett retired last year, as well, and he and his wife have also been traveling extensively. He recaps the 450 miles they traveled by foot in My Camino de Santiago Journey, a FIRE Adventure.
The Financial Samurai concurs. It’s Hard to Frugal Your Way to Early Retirement.
Coach Carson has shown us that You Can Retire Early with Real Estate. But does that make real estate a great investment? Stop Ironing Shirts laments the fact that Home Ownership Cost Us $60,000 in a Great Housing Market.
The Actuary on FIRE brought his actuarial skills to The Retirement Manifesto with a graphical chart unlike anything I’ve seen before. 200 Years Of Safe Withdrawal Rates In One Cool Chart.
Another compendium of FI resources exists in the 52 lessons from Fiology, each with a number of curated articles on the topic of the week. Creator David Baughier has now released an accompanying Fiology Workbook to aid you in organizing your financial life as you progress towards financial independence.
On Friday, we started unpacking boxes as we begin to move into our post-FIRE home base. I’ve also been checking off boxes to prepare for the transition. Early Retirement Checklist Part One: Money Considerations Prior to FIRE.
My fellow Golden Gopher grad over at Life Outside the Maze is post-FIRE himself, and he’s discovered something more important than the monetary aspects of it all. Searching For Happiness When Financially Independent.
Eight Days to Freedom
I’ve had financial freedom for awhile, but haven’t been taking full advantage.
It’s going to be a bittersweet workweek, knowing that it could very well be my last. I have known since the moment I started contemplating an early exit from medicine that there would be aspects of the job that I will miss, particularly the grateful patients and my excellent coworkers and colleagues.
I’m not going to lie, though. I look forward to the next chapter in this life.
Freedom Unlimited versus Quicksilver
While we’re on the subject of Freedom, let’s take a minute to compare two of the top cash back credit cards on the market today, the Chase Freedom Unlimited card and the Capital One Quicksilver card (learn more about this card).
Both offer 1.5% back on all purchases and have no annual fee. Both also offer an introductory 0% APR for the first 15 months on purchases and balance transfers (with a 3% fee on the balance transfer).
The Quicksilver card is offering a bonus of $150 cash back when you spend $500 in the first three months. That’s a quick return of 30% on your initial spending with the card.
The Chase Freedom Unlimited does not have a welcome bonus, but it does offer double cash back (3%) for the first $20,000 spent on the card in the first year. The extra 1.5% on that $20,000 will give you as much as a $300 bonus if you plan to put that much on that particular card.
The Quicksilver card has no foreign transaction fees, a feature this soon-to-be frequent international traveler can appreciate. The Chase Freedom card does not have this feature.
Finally, the Chase Freedom Unlimited card’s cash back is actually given in the form of Chase Ultimate Reward points. If you pair the points with those earned from a Chase Sapphire Preferred card, the points are worth 1.25 cents each when redeemed for travel through the Chase Portal. Paired with the Chase Sapphire Reserve, they can be worth 1.5 cents each.
If you already have one of the Sapphire cards, you can you use that card overseas and the Freedom Unlimited card can be a good complement. The Chase Freedom card may be a better fit as it offers 5% back on rotating categories. I’m enjoying 5% back on all gas station purchases right now.
If you are not already banking with Chase and are not interested in a card with an annual fee, the Quicksilver is probably the better option. The lack of foreign transaction fees and generous return of 30% cash back on your first $500 as a welcome bonus makes it an attractive card.
A good alternative the the Chase Sapphire Preferred is the Capital One Venture (learn more about this card), but we’ll save that comparison for another day.
Capital One Quicksilver Cash Rewards Card
I’ve Updated the Credit Card Tracking Spreadsheet
Every few months, I update the free credit card tracking spreadsheet to reflect the latest offers and perks on some of the most popular and beneficial reward cards available.
The sheet also has a tab for top business cards and a blank template that you can copy and paste to or enter all of your own information.
E-mail subscribers got a link to the latest version in their inbox this morning. If you’d like a copy, you can grab yours by sharing your email below.
Here’s a miniaturized preview of what that spreadsheet looks like. Some data has been blurred out because I don’t want to have to replace the image every time a card changes their welcome offer, which happens quite often.
A Featured Insurance Agent
Physician Financial Services
Thousands of non-fiction books, each summarized in ~ 15 minutes with Blinkist.
Have an outstanding week!
-Physician on FIRE
Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers.