Inside Out Money

This week, I’m answering your questions about early retirement, investing, raising financially literate kids, making like-minded friends, and more!   In this week’s podcast, we talk about: - Sitting in the boring middle of achieving FI - Enjoying the journey versus the destination - How do you know when you have enough money to retire - How to make FI friends - Best FI meetup groups and conference...

This one thing can save you money, help the environment, declutter your house, and improve your mental health; it’s using the things you already have! We share practical tips and strategies for reframing your mind to focus on everything you already own inside your home before you allow yourself to acquire new things.  Erica joins this week’s podcast as we talk about: - The many benefits of using w...

The key to growing long-term wealth is to spend less than you make and invest the difference, but there are also some money mistakes you should avoid. Make sure you listen and avoid these money mishaps to win long-term. Liz joins this week’s podcast as we talk about: - Why whole life insurance is so bad - The pros and cons of 401k loans - Buying stuff you can’t afford and don’t need on credit card...

People often say you’ll spend less in retirement, but who are these people, and is this true? We break down some common beliefs about retirement spending and share our own personal experiences of being retired early for two years.  Greg joins this week’s podcast as we talk about: - The retirement smile - How much we’ve spent over the last five years - People say retired life costs less - Is this t...

Understanding the CAPE (Cyclically Adjusted Price-to-Earnings) ratio and SORR (Sequence of Returns Risk) matters if you’re investing in the stock market and making future plans based on those investments. These metrics provide a stable benchmark for valuation and can help identify market bubbles or periods of undervaluation; they’re important to understand and can help inform your future plans.  ...

Three families share what we spent in the first half of 2024. Who’s spending is the highest and lowest? And is there really a winner or loser!? We’re big fans of intentional spending and not spending more than you earn. We share the nitty gritty details of our spending so far in 2024.   Liz, Andrew, and Greg join this week’s podcast as we talk about: - Why we track our expenses - How we track our...

Secondhand products can save you money, save the planet, help others earn money, build community, and so much more! We encourage everyone to think secondhand first anytime they want or need something. Liz joins this week’s podcast as we talk about: - Benefits of shopping secondhand and thrifting - Best practices and tips for shopping secondhand - How to keep an eye out for scammers when buying use...

Packing less and spending less while traveling abroad or domestically is possible and can make travel much more enjoyable! Travel a bit lighter and spend a bit less to splurge on the stuff that matters. Join us for a discussion on intentional travel spending. Greg joins this week’s podcast as we talk about: - Why we pack light when traveling with our three kids - What we pack and how we make it wo...

It’s not about what you make, it’s about the difference between what you make and what you spend. If you know those two numbers you can calculate your savings rates, and if you know it you can improve upon it. Liz joins this week’s podcast as we talk about: - The number one most important metric for achieving early retirement - How to calculate your savings rate - What our savings rates are and ha...

Actionable advice to stop comparing yourself to others and start focusing on your own life. We all compare ourselves to others, but we also know comparison is the thief of joy and we will be happier when we learn to spend less time comparing and more time living.  Andew joins this week’s podcast as we talk about: - The importance of tracking expenses - Our favorite savings hacks on home, grocery,...

Start doing the things rather than just saying the things. Learn how to transform your intentions into actions and, in the process, close the execution gap that many of us struggle with.   Erica joins this week’s podcast as we talk about: - How to transform your intentions into actions - Closing the execution gap - The power of habits and our favorite book on building habits - The challenges we al...

Understanding the science and root of perfectionism can help us to focus on the good and let go of the bad. We encourage you to focus on progress over perfection and leverage that mindset to improve your finances.  Greg joins this week’s podcast as we talk about: - The science of perfectionism - How perfectionism can be helpful and harmful - The three types of perfectionism - The difference betwee...

Finances can be one of the most stressful parts of a relationship, but they don’t need to be. We share actionable advice for setting up your finances with your partner, focusing on transparency and alignment. Liz joins this week’s podcast as we talk about: - The various ways to organize your finances with a partner or spouse - The pros and cons of splitting versus combining finances - Multiple way...

The financial services industry often profits from the misconception that managing your investments is too complex, leading you to believe that you should pay them to do it for you. This just isn’t true, and we debunk this myth and explain how to transition from relying on a financial advisor to managing your own investments. Andrew joins this week’s podcast as we talk about: - Why it’s so importa...

Actionable advice to stop comparing yourself to others and start focusing on your own life. We all compare ourselves to others, but we also know comparison is the thief of joy and we will be happier when we learn to spend less time comparing and more time living.  Erica joins this week’s podcast as we talk about: - Why it’s so dangerous to compare ourselves to others - The importance of mindset to...

Greg joins this week's podcast, and we share our most significant reflections and learnings after two years of being early-retired. We break it down into our eight biggest learnings: There’s nothing to be afraid of,  be patient and kind with yourself, do less and set boundaries, monitor your hustling and what you’re chasing, structure and routine add value, it’s OK to focus on yourself, be pre...

Liz joins this week's podcast, and we talk about all things emergency funds. We start with why it’s so important to have an emergency fund and what emergency funds are meant to be used for versus not. We dig into all of the things you need to know about emergency funds, from where to keep it to how much you need in one. In addition to giving some general guidance on how much to keep in your em...

Andrew joins this week's podcast, and we talk about all of the things we don’t spend money on. We’re all about intentional spending, and we spend a lot of time talking about what we do spend our money on, and it’s interesting to also reflect on what we’re not spending money on. Check out which of us isn’t spending on car washes, house cleaning services, yard care services, haircuts, clothing,...

Erica joins this week's podcast, and we talk about exhaustion, how it’s impacting our finances, and how we can mitigate exhaustion to improve our lives. We start off by discussing an article in TIME magazine about exhaustion, which shares three often overlooked causes of exhaustion: unsustainable lifestyles, stress beyond our control, and financial insecurity. We share our thoughts on how to adjus...

Greg joins this week's podcast, and we share why and how we’re migrating our investments from Wealthfront to Fidelity, which will save us $20K+ in fees over the next ten years. We share how this will save us money, allow us to receive dividends instead of auto reinvesting them, better control our portfolio, and improve our performance. We share the backstory of why we started investing with We...

Liz joins this week's podcast for a very impromptu discussion where we reveal our Amazon and Target purchases for the last few months. We review each other’s purchases and discuss what we’re spending our money on lately and how it makes us feel. We each aim to focus on intentional spending, and reviewing your expenses with a friend is a fun way to check your spending. Get the full show notes,...

For the 50th Inside Out Money episode, Maggie interviews two early-retiree couples at campFI: Stacey & Andy and Amber & Bob. They share their stories of how they prepared for early retirement, challenges and learnings along the way, and much more. They also talk about their feelings along the journey, how they’re maintaining a sense of purpose and fulfillment without traditional work, the...

Andrew joins this week's podcast, and we discuss the difference between deprivation and discipline, how they are interrelated, and why it all matters. We dig into the reality of needs versus wants and how reframing deprivation as discipline can help you improve your finances and other aspects of your life. We wrap up the discussion with recommendations for improving your discipline. Get the full s...

Greg joins this week's podcast, and we share five cell phone savings hacks that can save you thousands of dollars. We share how to get the cheapest and best cell phone coverage, how to use eSIM cards for international travel, our favorite Otterbox cases and how to leverage their lifetime warranty, how to get free cell phone insurance protection from your credit cards, and how and when to buy the c...

Erica joins this week's podcast, and we discuss the economics of happiness and what research shows will and won’t make you happier. We share the macronutrients of happiness, according to David Brooks and Oprah, and how we should be striving to be happier versus a fixed ideal nirvana state of happiness. We talk through each of the factors that can have a meaningful influence on our happiness, a...