friends on FIRE

In this week’s episode, we give a refresher on travel hacking and share an update on our 1 million point goal this year. The power of travel hacking comes from the sign-up bonuses, not from normal spend. We’ve signed up for 9 different credit cards this year for a total of 800K+ points and miles. We share how our traveling hacking is helping to fund our summer travel adventures.

In this episode, we discuss simple and fun strategies for paying off debt. We often hear about good vs. bad debt, but don’t be fooled by companies trying to sell you loans. Almost all debt is bad, and if you are stuck with it, you should work hard to pay it off quickly. We share strategies for picking which debt you pay back first and ideas for making paying off your debt fun!

In this week’s episode, we discuss the recent volatility and decline in the stock market. It’s been a wild ride in 2022! With a dramatic pullback from recent stock market highs, it can be stressful to watch your investments. We discuss some of the reasons behind the declines and share some advice on how to handle bad news and make sure you make solid decisions with your investments.

In this week’s episode, Mike interviews Greg and Maggie about their last week of work and the first week of retirement. Greg and Maggie share how they initially gave their notice at work, then dig into more recent happenings of how their last week wrapped up and how they each felt. This episode was recorded four days into their retirement; they share their feelings in the early days of being retir...

In this episode, we discuss the concept of fear related to money and early retirement specifically. Based on a talk Maggie gave at campFI Southeast 2022, we dig into a discussion on fear and courage. We talk about what we’re afraid of, define fear, share the good and bad sides of fear, and discuss 8 ways you can conquer your financial fears.

In this episode, we share ideas for how everyone can save money on their cell phone bill. Most people can get unlimited cell phone cover in the United States for under $30 a month, so if you’re paying more than that, we challenge you to rethink what you need and consider switching cell phone providers. We talk through how to decide what you need from a cell phone plan, the difference in pre-paid v...

In this week’s episode, we interview Landshark. Landshark is the pen name for a lawyer, father, husband, and now early retiree. He’s in his early 40s and lives in Colorado with his wife and two elementary school-aged kids. He spent nearly two decades as a practicing lawyer, and early on in his career, he realized he wanted more freedom and family time in his life. Landshark has been saving and inv...

In this episode, we share sustainable practices that save the environment and your wallet. In honor of Earth Day, we discuss why sustainability matters and dig into 22 tips to help the environment while also saving you money. We start with little day-to-day things you can do and then talk through bigger lifestyle changes to consider. Finally, we encourage everyone to look at their lifestyle and se...

In this episode, we talk about all things inflation. We dissect the concept of inflation and discuss how you can proactively respond to and mitigate current inflation. Inflation is essentially the increase in prices of goods and services, but it’s not as simple as just a percentage increase for everything. Inflation might be hidden by marketers using several sneaky tactics like “shrinkflation.” Pr...

In this episode, we remind everyone that we have food at home, and so do you! Eating out can be one of the largest expense categories, and many people don’t realize how much they spend in this category until they start tracking their expenses. We talk through the benefits of eating at home versus eating out, tips and ideas for eating out less and eating at home more, and a few tips for reducing yo...

In this episode, we discuss 401k and 403b investment options and how to pick the right ones for you. We start with a refresher on 401ks and 403bs and discuss the tax structure of these plans. We then explain the various types of funds available and the key considerations for making your personal choices about how to invest your 401k.

In this week’s episode, we bring back the original friends on FIRE to give Maggie advice and counsel as she embarks on her early retirement journey. The original friends on FIRE are Mike’s dad Jack and his long-time friend Mark, who met at work, became fast friends and retired at 42 and 55. We first interviewed them on episode 78, and now they are back to advise Maggie on this specific stage of he...

In this week’s episode, Maggie shares a glimpse into how she plans to spend her retirement, or as she describes it, what’s on her early retirement bucket list. She introduces the concept of her Freedom Five and walks through each of her top five focus areas of how she plans to spend her time in early retirement. The Freedom Five includes slowing down and being more present, focusing on health and...

In this week’s episode, Maggie shares her plan for medical insurance in early retirement. The reality is insurance is expensive, and either your employer is subsidizing the cost for you, or you’re paying the higher price tag in exchange for your freedom and flexibility. First, we discuss some factors to understand about medical insurance during early retirement and the various types of insurance o...

In this week’s episode, Maggie shares how her family of 5 is retiring at her age of 41 and her husband at the age of 43. She shares how they financially got to the point of retiring early and how they plan to finance the next 40+ years of their lives, and her feelings as she gets closer to taking the plunge into early retirement.

In this week’s episode, Maggie shares some big news that she’s resigned at the age of 41 after 20 years working in Corporate America and is retiring early! And it’s not just Maggie, her husband Greg also quit his job, and they are taking this plunge together. Their last day will be in early May, and they have an interesting next few months ahead. Maggie shares why she’s retiring early, how she res...

In this week’s episode, we talk about going from financially illiterate in her 20s to retiring from W2 work in her 30s with Diania Merriam. Diania is the host of the Optimal Finance Daily podcast and the creator of the EconoMe conference, which has been described as the Ted Talks of the FIRE community and a “party about money.” Diania spent her 20s living it up in New York, discovered Mr. Money Mu...

In this episode, we talk about how to save money while dating. The dating process can get really expensive, yet there are some simple and proactive steps you can take to make dating more affordable and effective. We discuss the various factors that can influence the financial etiquette of dating. Then we share general tips for how to deal with the financial aspects of the dating scene and end with...

In this episode, we discuss our individual goals to earn 500,000 airline, hotel, or travel points this year for a friends on FIRE total of one million points! Travel hacking is a fun and lucrative activity if you learn how to do it right. We discuss our strategies and experiences accumulating points. We also share our travel plans and real-world examples of how we’re using points.

In this episode, we share ideas for putting a dollar value on your time and using that to decide what to buy vs. make, do yourself vs. hire, or purchase new vs. keep using. Of course, everyone is different and everyone’s time has a different value, but we can all begin to evaluate the decisions within a similar framework. We share a few key myths, give real-world examples, and talk through how we...

In this week’s episode, we share what both of our families spent in 2021. We give a full-year expense review and break down our top spending categories, which areas we’re feeling good about, and where we’d like to improve in 2022. These conversations are best to have with your partner and family members, so we do that and bring on our spouses to join us as we run through all of this. We also share...

In this week’s episode, we talk with Chris and Deb from Go Bucket Yourself. Chris and Deb are a married couple living in Colorado with two daughters and two dogs. They had built a safe and secure life and slowly realized the white picket fence life with only a couple of weeks of vacation each year wasn’t their dream. They started to question the idea of putting their dreams on hold until retiremen...

In this week’s episode, we discuss the amazing benefits of meditation and how it can positively impact your money. Meditation has some pretty impressive benefits that have been scientifically proven, from reducing stress and anxiety to reducing coronary disease and lowering your blood pressure. First, we dig into what meditation is, its many benefits, and how it can improve your finances. Then we...

In this week’s episode, we reflect on another unique year, 2021! We share it all, from what we’re most proud of personally to what we’ve learned and reflected on. We also share some of our favorite podcasts from the year, along with some of your favorite podcasts based on the numbers. Finally, we reminisce through everyone we’ve met and interviewed this year and give some teasers for what we’re mo...

In this episode, we share ideas and tips for challenging typical medical insurance norms so you can save money on your medical expenses. Most people think there’s only one path for all of their medical expenses if they have traditional insurance, but that’s just not true. In reality, there are many ways to save on medical expenses, whether through your traditional insurance or outside the traditio...