👋 Hey there, hope your week is getting off to a good start! Welcome to the WalletBurst monthly newsletter for the month of May 2023.
- The 4% rule doesn’t account for the flexibility of early retirees.
- It also doesn’t take into account fixed costs, but rather assumes that inflation impacts all of your expenses.
- Once you quit your job, reducing your discretionary spending during stock market downturns allows you to use a higher safe withdrawal rate without reducing your portfolio’s probability of long-term success.
- Casual conversation with Brandon Ganch from the popular Mad Fientist blog about his life after FIRE, including:
- How his views on spending have changed after many years of being hyper-frugal.
- How he thinks about building his ideal life now that he and his wife recently had a son
- My favorite excerpt: “It wasn’t until after quitting my job that I realized that my job wasn’t stopping me from doing the things I wanted to do.”
- The guests discuss their thoughts on traditional FIRE versus Slow FI / Coast FI, including:
- How you can use Slow FI and Coast FI to design your lifestyle to get many of the benefits of full FIRE without the downsides.
- Upsides and risks of Coast FIRE compared to traditional FIRE
- Excerpt: “If you’re someone who is driven enough to reach FIRE at a young age, then you are likely to still want to be productive in some capacity even after quitting your job.”
Side hustle idea: renting wedding arches by @Codie_Sanchez.
🏠 Home price data for America’s 30 largest housing markets through April ’23 by Lance Lambert.
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