Chris Mamula: October Bogleheads on Investing podcast guest.

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Rick Ferri
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Chris Mamula: October Bogleheads on Investing podcast guest.

Post by Rick Ferri » Mon Oct 07, 2019 9:57 am

Chris Mamula is the co-author of a new book titled ChooseFI, Your Blueprint to Financial Independence. This is a wonderful book that pulls together the best content from the FIRE movement - Financial Independence Retire Early. The book is all about the FI side of the equation and leaves open the RE side.

Please post your questions about FI and the FIRE movement here.

Rick Ferri
The Education of an Index Investor: born in darkness, finds indexing enlightenment, overcomplicates everything, embraces simplicity.

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onthecusp
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Re: Chris Mamula: October Bogleheads on Investing podcast guest.

Post by onthecusp » Mon Oct 07, 2019 2:16 pm

Hi Rick, I've listened to your other podcasts and they are all great! Good discussions with a focus on boglehead values.

I'll try and work up to a specific question here. I'm interested in exploring the "definition" of "sufficient" resources for FI/FIRE when still making large contributions. I'm at the point where I can choose a reasonable spending level to plan for. It seems quite sufficient, but is still below what we spend now even with making substantial contributions to retirement funds so we will have to make an adjustment.

I'm planning on a couple of years of part time work, with income about equal to our planned spend. Even making the jump to stopping the substantial contributions is difficult mentally.

If I had to make a question or two out of that:
What do you and your guest see regarding the success of recent retirees adjustment to lower spending plans in retirement (early or not)?

Or, put another way, emphasizing the FI side:
FI must represent a value of assets that can support certain spending, what traits make people successful in adjusting spending once the assets are being used to support a lifestyle?

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GreatOdinsRaven
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Re: Chris Mamula: October Bogleheads on Investing podcast guest.

Post by GreatOdinsRaven » Mon Oct 07, 2019 11:32 pm

Rick,
I have two questions:
1. How does one plan for health insurance costs in the RE phase of FIRE? Seems black box and very expensive. How much should be earmarked for health insurance per year, by decade before Medicare kicks in?
2. It would seem the younger one is at retirement the greater the risk one assumes of running out of money due to inflation (anticipated or unanticipated), sequence of returns risk, and perhaps under-accumulation before the RE part. Broken down in 5 year increments what’s the safe withdrawal rate for people from ages 40 upward? What’s the multiple of spending one needs to save before RE? 25x, 30x, more? Does this vary by age; ie larger multiple if one retired at a younger age?

I know many people who are told they’re FI with savings that’s 30x their spending (but they have a hard time believing it because they’re in their early to mid 40s).

Thanks,
GOR
"The greatest enemies of the equity investor are expenses and emotions." -John C. Bogle, Little Book of Common Sense Investing. | | "Winter is coming." Lord Eddard Stark.

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Rick Ferri
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Re: Chris Mamula: October Bogleheads on Investing podcast guest.

Post by Rick Ferri » Wed Oct 09, 2019 8:16 am

Thank you for your comments.

I'm excited to have Chris Mamula, lead author of the new "ChooseFI" book as my guest on "Bogleheads on Investing"! This is a great interview.

Episode 014: Chris Mamula, host Rick Ferri

Rick Ferri
The Education of an Index Investor: born in darkness, finds indexing enlightenment, overcomplicates everything, embraces simplicity.

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onthecusp
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Re: Chris Mamula: October Bogleheads on Investing podcast guest.

Post by onthecusp » Wed Oct 09, 2019 12:56 pm

Great! I'll listen this afternoon on the ride home. Thanks Rick!

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