9 to FI - Financial Independence Conversations

FI 201 - Crypto and Gambling

Previewing FI 201: Investing, Risk, Accounts, and SpeculationJosh and Elliot discuss Elliot’s upcoming FI 201 presentation for their local Choose FI group, co-presented with Alan Hansen, after their well-attended FI 101 session drew about 75 people and was later shared within the Choose FI community. Elliot outlines FI 201 topics including saving vs investing vs speculating, investment risk and risk tolerance, market-history return graphs and whether to panic during downturns, types of accounts (tax-deferred, Roth/after-tax, HSA), asset types, asset allocation and asset location, and sharing real examples of their households’ asset distribution (taxable, tax-deferred, cash, equities, 529s) plus mistakes and resources. Taxes are being moved to a separate future class, and they mention the book “Tax Planning To and Through Early Retirement.” They also note covering crypto, gambling, options/futures, and hard assets, and discuss compounding and long-term comparisons among inflation, T-bills, and the S&P 500.00:00 Welcome And Setup00:04 Why FI 201 Now01:34 FI 101 Recap Impact03:39 FI 201 Agenda Overview07:07 Asset Location Questions09:51 Future Classes And Taxes11:57 Terminology And Nomenclature15:09 AI Slides Experiment18:00 Speculation Crypto And Gambling22:20 Young Investors Day Trading26:25 Net Worth Milestones27:51 Compounding And Returns Demo29:06 Wrap Up And GoodbyeDo you have feedback or suggestions? We want to hear from you! Contact Elliot: Elliot@ninetofipod.com [Elliot@ninetofipod.com] Contact Josh: Josh@ninetofipod.com [Josh@ninetofipod.com] Josh’s other podcast: Stuck In Beta [https://open.spotify.com/show/4foNu6PXBBTnj7LRPUWeSd?si=380e77ecc4524baf] Josh’s YouTube channel: How To Fix It Workshop [http://www.youtube.com/@howtofixitworkshop] Any of these products help the show. Thanks for your support! Mint Mobile - We both use ⁠Mint Mobile⁠ [http://fbuy.me/vgAmz] and save a ton on our phone plan: ⁠ [http://fbuy.me/vgAmz]https://my.mintmobile.com/refer/aEWp5rL ⁠Empower⁠ [https://empowerreferral.link/joshuaepley] is Josh’s choice for Net Worth and Budgeting Wanna create a podcast? We use ⁠Descript⁠ [https://descript.cello.so/IVNVNzQT7Gf] Looking for a new credit card?  We’re big fans of ⁠Chase⁠ [https://www.referyourchasecard.com/226d/VXSG31N8OF] ⁠Buy Us a Coffee⁠ [https://buymeacoffee.com/9tofi] - One time donation or monthly, it’s up to you Want to save money on gas? Try ⁠Upside!⁠ [https://upside.app.link/JOSH56339] Books mentioned in this episode: Tax Planning To And Through Early Retirement - https://amzn.to/4396bro Come find us and subscribe on YouTube [http://www.youtube.com/@9toFI]: http://www.youtube.com/@9toFI [http://www.youtube.com/@9toFI]

Should I Take An EARLY WITHDRAW From My 401k to Fund Discretionary Spending? | 9 to FI 042

Should We Tap a 401(k) Early for Home Upgrades? A Middle-Class Trap Liquidity DebateJosh and Elliot discuss the “middle class trap” idea—having most wealth tied up in 401(k)s and home equity—and how it affects liquidity and flexibility. Josh is retired with nearly $2.9M net worth, outlines cash ($65K), taxable brokerage (~$95K), $1.4M tax-deferred 401(k)s, paid-off home with a $135K HELOC at 7.75%, rental property equity (~$600K), and his wife Lori’s income (~$4,500/month) and pension value. They consider funding roughly $60K of long-delayed home projects (deck, fence, hardscaping). Josh explores early 401(k) withdrawal while Lori works (12% bracket plus 10% penalty) versus using cash/taxable, HELOC, rental cash flow, Roth conversions, 72(t) strategies, or a margin loan, debating taxes, penalties, opportunity cost, and psychological comfort with liquidity and debt.00:00 Basement Backdrop Banter01:05 Hybrid Worker Setup02:09 Middle Class Trap Debate06:56 Real Estate vs Liquidity10:53 Home Projects Wish List12:15 Net Worth Breakdown14:18 Income and Rental Cash Flow17:39 Spending Goals and Timeline19:23 Why Spend Now22:03 401k Withdrawal Idea28:09 Elliot Runs the Numbers31:54 Lori Cash Flow Mindset33:54 Equity Return Reality Check35:08 Liquidity Options Beyond 401k36:44 Psychology Versus Math39:44 Early Withdrawal Penalty Math42:56 FI Tax Strategies 72t And Roth46:43 Opportunity Cost Of Cashing Out48:38 Option A Spend Taxable Cash49:55 Hybrid Plan And ACA Angle52:35 Replenish Reserves And Debt Aversion54:46 HELOC Bridge Versus Penalty56:18 Middle Class Trap And Money Trauma57:56 Drawdown Order And Account Strategy59:40 Margin Loans And Market Risk01:04:03 Wrap Up And Next Episode Tease Do you have feedback or suggestions? We want to hear from you! Contact Elliot: Elliot@ninetofipod.com [Elliot@ninetofipod.com] Contact Josh: Josh@ninetofipod.com [Josh@ninetofipod.com] Josh’s other podcast: Stuck In Beta [https://open.spotify.com/show/4foNu6PXBBTnj7LRPUWeSd?si=380e77ecc4524baf] Josh’s YouTube channel: How To Fix It Workshop [http://www.youtube.com/@howtofixitworkshop] Any of these products help the show. Thanks for your support! Mint Mobile - We both use ⁠Mint Mobile⁠ [http://fbuy.me/vgAmz] and save a ton on our phone plan: ⁠ [http://fbuy.me/vgAmz]https://my.mintmobile.com/refer/aEWp5rL ⁠Empower⁠ [https://empowerreferral.link/joshuaepley] is Josh’s choice for Net Worth and Budgeting Wanna create a podcast? We use ⁠Descript⁠ [https://descript.cello.so/IVNVNzQT7Gf] Looking for a new credit card?  We’re big fans of ⁠Chase⁠ [https://www.referyourchasecard.com/226d/VXSG31N8OF] ⁠Buy Us a Coffee⁠ [https://buymeacoffee.com/9tofi] - One time donation or monthly, it’s up to you Want to save money on gas? Try ⁠Upside!⁠ [https://upside.app.link/JOSH56339] Books mentioned in this episode: Come find us and subscribe on YouTube [http://www.youtube.com/@9toFI]: http://www.youtube.com/@9toFI [http://www.youtube.com/@9toFI]

Continue MORNING ROUTINES in Early Retirement? | 9toFI 041

Morning Routines After FI: Slow Mornings, Habits, and StructureJosh and Elliot discuss the value of routines—especially morning routines—after retirement and in working life, sparked by Sarah sharing an Inside Out Money episode about compounding habits. Josh recounts the host’s early-retirement lack of structure and how adopting morning habits (sunlight, water, exercise) improved her feelings of laziness, prompting reflection on their own routines. Elliot describes minimal weekday routines shaped by hybrid commuting (up around 5:15–5:30 for office days; 6:30 for work-from-home) and weekends influenced by young kids, meal planning, and shared calendars. Josh outlines a long-standing 5:00 AM “slow morning” routine with water, coffee, reading/creative work, and workouts, plus consistent bedtime habits, limited news/social media, and discussion of experimenting with exercise schedules and subscription “money leaks.” 00:00 Why Routines Matter 00:17 Podcast Spark 02:10 Elliot Morning Schedule 04:54 Josh Slow Mornings 12:09 Habits And Motivation 19:05 Making Workouts Work 27:10 Evening Routine Talk 32:23 Social Media And Shopping 35:24 Streaming Subscriptions 38:41 Final Routine Takeaways Do you have feedback or suggestions? We want to hear from you! Contact Elliot: Elliot@ninetofipod.com [Elliot@ninetofipod.com] Contact Josh: Josh@ninetofipod.com [Josh@ninetofipod.com] Josh’s other podcast: Stuck In Beta [https://open.spotify.com/show/4foNu6PXBBTnj7LRPUWeSd?si=380e77ecc4524baf] Josh’s YouTube channel: How To Fix It Workshop [http://www.youtube.com/@howtofixitworkshop] Any of these products help the show. Thanks for your support! Mint Mobile - We both use ⁠Mint Mobile⁠ [http://fbuy.me/vgAmz] and save a ton on our phone plan: ⁠https://fbuy.me/vgAmz⁠ [http://fbuy.me/vgAmz] ⁠Empower⁠ [https://empowerreferral.link/joshuaepley] is Josh’s choice for Net Worth and Budgeting Wanna create a podcast? We use ⁠Descript⁠ [https://descript.cello.so/IVNVNzQT7Gf] Looking for a new credit card?  We’re big fans of ⁠Chase⁠ [https://www.referyourchasecard.com/226d/VXSG31N8OF] ⁠Buy Us a Coffee⁠ [https://buymeacoffee.com/9tofi] - One time donation or monthly, it’s up to you Want to save money on gas? Try ⁠Upside!⁠ [https://upside.app.link/JOSH56339] Books mentioned in this episode: Come find us and subscribe on YouTube [http://www.youtube.com/@9toFI]: http://www.youtube.com/@9toFI [http://www.youtube.com/@9toFI]

Saying "NO" is hard | 9toFI 040

The Power of Saying No: Boundaries at Work, with Family, and with YourselfJosh and Elliot discuss how to say no to bosses, coworkers, friends, family, and oneself, reflecting on their shared people-pleasing tendencies. They open with accountability updates (Josh scheduling a colonoscopy; Elliot struggling to restart workouts after illness and foot pain), then share examples of difficulty setting boundaries, including Josh’s guilt over refusing Elliot’s brake help but spending a Sunday fixing another friend’s brakes after giving bad advice. Josh describes learning to say no at work by clarifying priorities and negotiating tradeoffs to avoid burnout, influenced by ideas like Cal Newport’s, while Elliot notes that extra effort isn’t always rewarded and emphasizes focusing on the most impactful work. They contrast work boundaries with the harder emotional challenge of saying no to friends and family, discuss regret and FOMO, and address saying no to oneself by limiting new projects, side hustles, and time commitments in early retirement. 00:00 Why Saying No Matters 01:14 Accountability Buddy Check In 03:59 The Brake Job Karma Story 06:28 Saying No at Work 11:15 Quality Over Quantity 15:53 COVID Era Boundaries 19:05 Declining the Return Invite 21:35 Friends Family Guilt 23:04 People Pleaser Guilt 24:06 Hell Yes Philosophy 25:28 Saying Yes Then Regret 27:02 Retirement Boundaries 28:28 Fence Favor Fallout 31:38 No To Yourself 32:35 Side Hustle Temptations 35:39 Time Value Debate 37:57 Babysitter Rate Reality 39:07 Practicing Better Nos 41:16 Closing And Feedback Do you have feedback or suggestions? We want to hear from you! Contact Elliot: Elliot@ninetofipod.com [Elliot@ninetofipod.com] Contact Josh: Josh@ninetofipod.com [Josh@ninetofipod.com] Josh’s other podcast: Stuck In Beta [https://open.spotify.com/show/4foNu6PXBBTnj7LRPUWeSd?si=380e77ecc4524baf] Josh’s YouTube channel: How To Fix It Workshop [http://www.youtube.com/@howtofixitworkshop] Any of these products help the show. Thanks for your support! Mint Mobile - We both use ⁠Mint Mobile⁠ [http://fbuy.me/vgAmz] and save a ton on our phone plan: ⁠https://fbuy.me/vgAmz⁠ [http://fbuy.me/vgAmz] ⁠Empower⁠ [https://empowerreferral.link/joshuaepley] is Josh’s choice for Net Worth and Budgeting Wanna create a podcast? We use ⁠Descript⁠ [https://descript.cello.so/IVNVNzQT7Gf] Looking for a new credit card?  We’re big fans of ⁠Chase⁠ [https://www.referyourchasecard.com/226d/VXSG31N8OF] ⁠Buy Us a Coffee⁠ [https://buymeacoffee.com/9tofi] - One time donation or monthly, it’s up to you Want to save money on gas? Try ⁠Upside!⁠ [https://upside.app.link/JOSH56339] Books mentioned in this episode: Come find us and subscribe on YouTube [http://www.youtube.com/@9toFI]: http://www.youtube.com/@9toFI [http://www.youtube.com/@9toFI]

Retired at 48, lessons learned in the first year | 9toFI 039

One Year Retired: Finding Pace, Purpose, and Permission to Spend Elliot and Josh discuss Josh passing one year since retiring after a 25-year career. Josh reflects on celebrating the milestone with a commemorative bike ride, says retirement has been overwhelmingly positive, and describes learning to slow down, avoid overloading projects, and use the power of saying no. He wants more small-group social activities because solo hobbies dominate his routine and large groups feel overstimulating. Josh explains a smooth career transition via a 14-month notice, gradual handoffs, and vacation time, though he still feels awkward using the word “retired,” partly due to ongoing rental property work. They discuss staying challenged without seeking constant entertainment, balancing house projects with hobbies, and shifting from scarcity to abundance by spending more, considering major home upgrades, and possibly selling problem rentals, while noting market downturns and withdrawal-rate comfort. 00:00 Sunday Morning Check In 00:44 One Year Retired 03:43 Finding a New Pace 05:47 Small Group Social Life 11:43 Saying No and FOMO 13:22 Career Transition Glide Path 16:47 Owning the R Word 20:56 Rentals Hobbies and Purpose 29:53 Money Mindset and Spending 52:00 Wrap Up and Listener Thanks Do you have feedback or suggestions? We want to hear from you! Contact Elliot: Elliot@ninetofipod.com Contact Josh: Josh@ninetofipod.com Any of these products help the show. Thanks for your support! Mint Mobile - We both use ⁠Mint Mobile⁠ [http://fbuy.me/vgAmz] and save a ton on our phone plan: ⁠https://fbuy.me/vgAmz⁠ [http://fbuy.me/vgAmz] ⁠Empower⁠ [https://empowerreferral.link/joshuaepley] is Josh’s choice for Net Worth and Budgeting Wanna create a podcast? We use ⁠Descript⁠ [https://descript.cello.so/IVNVNzQT7Gf] Looking for a new credit card?  We’re big fans of ⁠Chase⁠ [https://www.referyourchasecard.com/226d/VXSG31N8OF] ⁠Buy Us a Coffee⁠ [https://buymeacoffee.com/9tofi] - One time donation or monthly, it’s up to you Want to save money on gas? Try ⁠Upside!⁠ [https://upside.app.link/JOSH56339] Books mentioned in this episode: Come find us and subscribe on YouTube [http://www.youtube.com/@9toFI]: http://www.youtube.com/@9toFI [http://www.youtube.com/@9toFI]