Podcast appearances and mentions of scott rieckens

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 2 of 2. Episode 2192: [Part 2] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 2 of 2. Episode 2192: [Part 2] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 2 of 2. Episode 2192: [Part 2] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 1 of 2. Episode 2191: [Part 1] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 1 of 2. Episode 2191: [Part 1] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about how to pay off your student loans quickly. This is part 1 of 2. Episode 2191: [Part 1] How to Pay Off Student Loans Fast On Your Path to FIRE by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/how-to-pay-off-student-loans-fast-fire  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Traditionally, people saving for retirement and financial advisors relied on the 4% rule when calculating how much to save for retirement and the associated income those savings would provide after retirement. What if you found out it does not work? Is there another option? Today, we offer you an alternative approach, which is the 2% rule for retirement spending. Before we delve into today's main topic, we update listeners on the recent London meet-up, what to expect on upcoming shows, and who our special guest is to kick off the first episode of 2023. Then, we discuss today's main topic and learn what the 2% rule is, how it compares to the 4% rule, and whether the safe percentage for retirement is actually higher. We unpack retirement spending through the lens of several empirical papers, historical data, and market comparisons. We also find out why the US market has always been able to bounce back from uncertainty and whether there is empirical data to support the 4% rule. We also talk about the many financial challenges and opportunities that young people face, the biggest mistake people make regarding retirement, the value of financial literacy, book reviews, and more!   Key Points From This Episode:   An update on the 22 in 22 Reading Challenge. (0:05:21) Outline of today's content and the main topic: the 2% rule for retirement spending. (0:06:27) An overview of the “2% rule”, the motivation behind it, and how it was formulated. (0:08:17) We discuss if the safe withdrawal rate for retirement savings is higher than 4%. (0:13:31) The inspiration for the higher average realized rate of return on investment theory. (0:19:59) Whether the past returns on US stocks will repeat in the future. (0:21:54) Why the US stock market has been historically exceptional and resilient, and how other markets compare. (0:23:44) The biggest limitation of the seminal work which helped established the 4% rule. (0:28:38) How data gaps were dealt with in the paper by Scott Rieckens and results are discussed. (0:33:16) Other aspects to consider regarding the research on retirement funds. (0:38:35) The challenges and opportunities that young people face today. (0:42:24) How financial literacy impacts investment opportunities, returns, and overall happiness. (0:46:59) What are the potential solutions and reasons to be optimistic regarding the current financial market. (0:47:48) Our usual episode review under a minute: episode 30 with Larry Swedroe. (0:52:31) This week's book review and choice architecture. (0:54:35) We discuss the reviews and feedback received on a previous episode. (1:02:32) Hear an update about our idea regarding CE credits and reviews about the show. (1:06:01)     Participate in our Community Discussion about this Episode: https://community.rationalreminder.ca/t/episode-229-the-2-rule-for-retirement-spending-discussion-thread/20473   Book From Today's Episode: The Elements of Choice: Why the Way We Decide Matters — https://amzn.to/3VvxZR8   Links From Today's Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Shop Merch — https://shop.rationalreminder.ca/ Join the Community — https://community.rationalreminder.ca/ Follow us on Twitter — https://twitter.com/RationalRemind Follow us on Instagram — @rationalreminder Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron on Twitter — https://twitter.com/CameronPassmore 'Determining Withdrawal Rates Using Historical Data' — https://retailinvestor.org/pdf/Bengen1.pdf 'Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable' — https://www.researchgate.net/profile/Carl-Hubbard/publication/265279441/ 'Global stock markets in the twentieth century' — https://onlinelibrary.wiley.com/doi/abs/10.1111/ 'Is The United States A Lucky Survivor: A Hierarchical Bayesian Approach' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3689958 'The Safe Withdrawal Rate' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4227132 'The equity premium: A puzzle' — https://www.sciencedirect.com/science/article/abs/pii/0304393285900613 'Long-Horizon Losses in Stocks, Bonds, and Bills' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3964908 'Financial System Review 2022' — https://www.bankofcanada.ca/2022/06/financial-system-review-2022/#:~:text=The%20tightening%20of%20monetary%20policy,remain%20two%20key%20interconnected%20vulnerabilities. 'The financial resilience and financial well-being of Canadians during the COVID-19 pandemic' — https://www150.statcan.gc.ca/n1/pub/75f0002m/75f0002m2021008-eng.htm 'Hopefulness is declining across Canada' — https://www150.statcan.gc.ca/n1/daily-quotidien/220517/dq220517d-eng.htm 'Global Investor Experience Study: Fees and Expenses' — https://assets.contentstack.io/v3/assets/blt4eb669caa7dc65b2/blt60e320775385837a/62431900eed9f60f2de8ad55/GIE_2022.pdf 'Financial Literacy Around the World' — https://gflec.org/wp-content/uploads/2015/11/3313-Finlit_Report_FINAL-5.11.16.pdf 'Ontario Securities Commission Investor Knowledge Study' — https://www.osc.ca/sites/default/files/2022-09/inv_research_20220907_investor-knowledge-study_EN.pdf 'Measuring the Financial Sophistication of Household' — https://www.nber.org/system/files/working_papers/w14699/w14699.pdf 'Investment Literacy, Overconfidence and Cryptocurrency Investment' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3953242 'Financial Literacy and Attitudes to Cryptocurrencies' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3482083 'Bitcoin Awareness, Ownership and Use: 2016–20'— https://www.bankofcanada.ca/wp-content/uploads/2022/04/sdp2022-10.pdf 'Optimal Financial Knowledge and Wealth Inequality' — https://repository.upenn.edu/cgi/viewcontent.cgi?article=1093&context=bepp_papers 'Financial Literacy and Retirement Planning in the United States' — https://www.nber.org/system/files/working_papers/w17108/w17108.pdf 'Financial Well-Being of the Millennial Generation' — https://gflec.org/wp-content/uploads/2019/12/Financial-Well-Being-of-the-Millennial-Generation-Paper-20191122.pdf

Are index funds a menace to the market? Are pension funds still a wise way to secure your financial future? In this episode, we discuss index funds, the state-sponsored pension plan in Canada, and much more. First, we unpack the nuances of index funds and take a look at the impact that active and passive investors have on the market. We discuss current index fund trends, when to switch from a passive to an active investor, and the dreaded index fund tipping point. To help us understand pension funds, we also chat with Jordan Tarasoff, a financial planner at PWL Capital, about the recent controversy regarding state pension schemes in Canada, and he provides us with some valuable insights into the government's upcoming plan. We switch up our usual book review to celebrate Financial Literacy Month and share five recommended books that will help you improve your understanding of finance. We also try something new by giving listeners a condensed overview of a previous episode with one of our favourite guests, Scott Rieckens. Finally, we go through some of the feedback and comments we've received from the growing Rational Reminder community about the show and our recent financial goals survey.   Key Points From This Episode:   What to look forward to in next week's episode. (0:05:08) Hear about a special promotion to celebrate Financial Literacy Month. (0:05:43) Introducing today's topic and what to expect in the episode. (0:05:56) Worries and biggest critiques of index funds. (0:08:23) Current trends regarding index funds in relation to the market. (0:09:40) When investors should switch from passive to active. (0:12:45) Some good news about the index fund tipping point. (0:15:46) What investors should be aware of when actively investing. (0:16:32) How informed and misinformed managers contribute to the index fund tipping point. (0:19:38) Who the investors and managers are that change to passive investment. (0:20:52) How switching from active to passive investing affects the value of the market. (0:25:38) Unpacking the concept of markets being ‘inelastic' as a result of index funds. (0:28:52) Whether passive investing undermines price efficiency concerning index funds. (0:30:03) What would cause the index tipping point to occur. (0:31:40) A brief background on today's guest, Jordan Tarasoff. (0:35:00) Details about the Canada Pension Plan (CPP) and how it works. (0:35:28) Jordan outlines the benefits of deferring a pension plan claim. (0:36:28) Recent changes that make deferring your pension plan non-beneficial. (0:38:20) What age group the recent pension plan changes impact the most. (0:42:14) Why the Consumer Price Index (CPI) can't be used to predict wage growth. (0:43:53) How Jordan is approaching his clients' pensions regarding the new changes. (0:45:10) Review of our top five books for increasing financial literacy. (0:48:57) Our new segment: summarizing a past episode in sixty seconds. (0:56:57) We ‘talk cents' about financial values and spending. (0:58:49) Recent reviews and feedback received about the podcast and goals survey. (1:02:40)     Links From Today's Episode:   Jordan Tarasoff — https://www.pwlcapital.com/profile/jordan-tarasoff/ Scott Rieckens — http://www.scottrieckens.com/ Efficient Frontier — http://efficientfrontier.com/ef/0adhoc/2books.htm Episode 95: Scott Rieckens (Playing with FIRE): Finding Financial Education, Perspective, and Freedom — https://rationalreminder.ca/podcast/95 Episode 99: Andrew Hallam (Millionaire Teacher): How to be Wealthy (and Happy) — https://rationalreminder.ca/podcast/99 Episode 108: Dr. William Bernstein: Praying for a Bear Market — https://rationalreminder.ca/podcast/108 Episode 128: Morgan Housel: The Psychology of Money — https://rationalreminder.ca/podcast/128 Episode 159: Bill Schultheis: Build Wealth and Get on With Your Life — https://rationalreminder.ca/podcast/159 Episode 186: Andrew Hallam: Balancing Money, Relationships, Health, and Purpose — https://rationalreminder.ca/podcast/186 Episode 191: Emerging Markets: Diversifying Asset or a Reverse Lottery? (plus Reading Habits w/ Morgan Housel) — https://rationalreminder.ca/podcast/191 Episode 212: Prof. Ralph Koijen: Demand System Asset Pricing & Inelastic Markets — https://rationalreminder.ca/podcast/212 Episode 124: Prof. Lubos Pastor: Equilibrium Models vs. Intuition — https://rationalreminder.ca/podcast/124 Episode 220: Jonathan Berk and Jules van Binsbergen: The Arithmetic of Active Management, Revisited — https://rationalreminder.ca/podcast/220 ‘On the Size of the Active Management Industry' — https://www.jstor.org/stable/10.1086/667987 ‘Disagreement, tastes, and asset prices' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X06001954 ‘Measuring skill in the mutual fund industry' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X15000628 ‘Which Investors Matter for Equity Valuations and Expected Returns?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3378340 Balance: How to Invest and Spend for Happiness, Health, and Wealth — https://www.amazon.com/Balance-Invest-Happiness-Health-Wealth/dp/1774580756 If You Can: How Millennials Can Get Rich Slowly — https://www.amazon.com/If-You-Can-Millennials-Slowly/dp/098878033X The Coffeehouse Investor's Ground Rules — https://www.amazon.com/Coffeehouse-Investors-Ground-Rules-Happiness/dp/1119717086 The Psychology of Money — https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681 Think, Act, and Invest Like Warren Buffett — https://www.amazon.com/Think-Invest-Like-Warren-Buffett/ The November Meet-up Email — info@rationalreminder.ca Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on Twitter — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

What does the pursuit of FIRE look like? Today's guest is Scott Rieckens, Emmy-nominated film producer and author of the documentary and book by the same name, Playing With FIRE. Glen interviews Scott about his journey pursuing financial independence - what life looked like before, what it looks like today and some of his learnings and thoughts on the FIRE (Financial Independence Retire Early) movement. Strap in for the ride and get ready to be inspired!

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 2 of 2. Episode 1843: [Part 2] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 2 of 2. Episode 1843: [Part 2] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 2 of 2. Episode 1843: [Part 2] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 1 of 2. Episode 1842: [Part 1] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 1 of 2. Episode 1842: [Part 1] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire talks about the value of creating an emergency fund. This is part 1 of 2. Episode 1842: [Part 1] Why Create an Emergency Fund by Scott Rieckens of Playing With Fire on Easing Your Financial Stress A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/why-create-an-emergency-fund   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we’re joined by Mr. Money Mustache (aka Pete aka Pedro??) and Ray from Waffles on Wednesday, who showed up to share some beer and all kinds of hot sauce! Among many others, we tried Playing with FIRE Hot Sauce, which is homemade by our recent guest, Scott Rieckens. Listen in as we tackle the Scoville scale and some juicy questions. ____ ____ Links: Playing with Fire Documentary Waffles on Wednesday on Twitter Mr. Money Mustache and on Twitter

In this episode, we're joined by Mr. Money Mustache (aka Pete aka Pedro??) and Ray from Waffles on Wednesday, who showed up to share some beer and all kinds of hot sauce! Among many others, we tried Playing with FIRE Hot Sauce, which is homemade by our recent guest, Scott Rieckens. Listen in as we tackle the Scoville scale and some juicy questions. ____ Join the Mile High FI Club – It's our email list! ____ Links: Playing with Fire Documentary Waffles on Wednesday on Twitter Mr. Money Mustache and on Twitter **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Doug and Carl talk with Scott Rieckens, the creator behind the popular Playing with Fire Documentary. A few highlights from our discussion:  How Scott found FI and how he got his wife on board Identifying the top ten things that make you happy (and the ten that make you miserable) Even Happier by Tal-Ben Shahar How FIRE lets you focus on the good things in life (and why you don’t actually need to be financially independent to do that) Scott’s experiences with negative attitudes towards FIRE Scott’s perfect day Scott’s new project: the online school Hello Compound, where Scott and his partner, Rob, help others to get their financial lives in order. Playing with FIRE on Amazon Be sure to check out all Scott’s endeavors and you can follow him on Twitter to see what he’s up to next! ____

Doug and Carl talk with Scott Rieckens, the creator behind the popular Playing with Fire Documentary. A few highlights from our discussion:  How Scott found FI and how he got his wife on board Identifying the top ten things that make you happy (and the ten that make you miserable) Even Happier by Tal-Ben Shahar How FIRE lets you focus on the good things in life (and why you don't actually need to be financially independent to do that) Scott's experiences with negative attitudes towards FIRE Scott's perfect day Scott's new project: the online school Hello Compound, where Scott and his partner, Rob, help others to get their financial lives in order Playing with FIRE on Amazon Be sure to check out all Scott's endeavors and you can follow him on Twitter to see what he's up to next! Join the Mile High FI Club – It's our email list! ____ **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 2 of 2. Episode 1710: [Part 2] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  If you're looking to supercharge your investment search and want to close on better deals while investing less time, head over to Awning.com/ofd   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 2 of 2. Episode 1710: [Part 2] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  If you're looking to supercharge your investment search and want to close on better deals while investing less time, head over to Awning.com/ofd   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 2 of 2. Episode 1710: [Part 2] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  If you're looking to supercharge your investment search and want to close on better deals while investing less time, head over to Awning.com/ofd   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 1 of 2. Episode 1709: [Part 1] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life. The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  Gusto is an easy, online payroll and benefits service built for modern small businesses — one place to pay and take care of your hardworking team. Get three months free when you run your first payroll by visiting Gusto.com/ofd  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 1 of 2. Episode 1709: [Part 1] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life. The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  Gusto is an easy, online payroll and benefits service built for modern small businesses — one place to pay and take care of your hardworking team. Get three months free when you run your first payroll by visiting Gusto.com/ofd  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire helps you decide whether or not you should refinance your mortgage. This is part 1 of 2. Episode 1709: [Part 1] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life. The original post is located here: https://www.playingwithfire.co/blog/refinance-my-mortgage  Gusto is an easy, online payroll and benefits service built for modern small businesses — one place to pay and take care of your hardworking team. Get three months free when you run your first payroll by visiting Gusto.com/ofd  Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

On board the podcast today is Scott Rieckens, Author of Playing with FIRE and the director of the Playing with FIRE documentary. Happily married in California with a young daughter, Rieckens had his dream life: A luxury car, yacht club membership and a big house. Underneath this façade, he was struggling with depression, overworked and overwhelmed, with no exit strategy. After discovering the financial Independence Retire Early movement, Scott began learning as much as he could, finally explaining to his family it was time to change. After a lot of research, talking and hesitation, they finally agreed. He finally quit his job, the family hit the road to move interstate, worked remotely over a year, and finally settled in a lower cost of living area, downsized their home and cut their expenses by 50%. Playing with Fire is Rieckens' story as told from their ‘works in progress' perspective on their journey to financial independence through deliberate minimalism, reduced spending and maximised investing. A man after my own heart (and hairline!), Scott has championed Financial Independence, and his documentaries, short films, interviews and published works have provided information and inspiration to millions globally. I am absolutely stoked to have been able to chat with him and pick his brain for us all to benefit.

On board the podcast today is Scott Rieckens, Author of Playing with FIRE and the director of the Playing with FIRE documentary. Happily married in California with a young daughter, Rieckens had his dream life: A luxury car, yacht club membership and a big house. Underneath this façade, he was struggling with depression, overworked and overwhelmed, with no exit strategy. After discovering the financial Independence Retire Early movement, Scott began learning as much as he could, finally explaining to his family it was time to change. After a lot of research, talking and hesitation, they finally agreed. He finally quit his job, the family hit the road to move interstate, worked remotely over a year, and finally settled in a lower cost of living area, downsized their home and cut their expenses by 50%. Playing with Fire is Rieckens' story as told from their 'works in progress' perspective on their journey to financial independence through deliberate minimalism, reduced spending and maximised investing. A man after my own heart (and hairline!), Scott has championed Financial Independence, and his documentaries, short films, interviews and published works have provided information and inspiration to millions globally. I am absolutely stoked to have been able to chat with him and pick his brain for us all to benefit.

Today's episode is the first that takes a new format we are piloting, where we compile clips from the most valuable conversations we have had in different episodes on a given topic. To kick it all off we will be devoting this episode to inflation-adjusted retirement spending and the nuances of the 4% rule. We start off with a clip from our conversation with Bill Bengen, creator of the 4% rule, where he explains the concept. From there, we pull up an excerpt from an interview with Wade Pfau, hearing him weigh in on how this rule only works in the context of the US and Canada. Next up, Fred Vetesse talks about the changes in stock and bond yields and how they further problematize the 4% rule. After that, Professor Moshe Molevsky makes the case for flexible spending, followed by Michale Kitces with his favourite variable spending rules. We grab a segment from our chat with Scott Rieckens where he argues that the 4% rule should be seen as more of a guideline for making financial decisions than a rule. Bill Bengen's interview then features again as we hear his comments on the effects of small-cap value stocks and cyclically adjusted price-earnings on safe withdrawal rates. Tune in for this fascinating set of highlights, the main point of which is that the 4% rule should rather be used as a guideline for financial planning and that where actual spending is concerned, a flexible approach is more sensible.   Key Points From This Episode: Bill Bengen, creator of the 4% rule, explains how the concept relates to inflation-adjusted retirement spending. [0:03:50.8] Wade Pfau speaks about how the 4% rule doesn't work in an international context. [0:09:15.0] Fred Vettesse lays out the contrast between today and the period Bill studied. [0:12:31.1] The importance of having flexibility in retirement spending with Moshe Milevsky. [0:14:51.8] Variable spending rules with Michael Kitces; ratcheting, guardrails, and more. [0:19:27.3] Scott Rieckens on the 4% rule as a tool for making financial decisions. [0:32:33.8] Bill Bengen comments on the problems that have been found with the 4% rule. [0:38:35.7] The effects of small-cap value stocks on the safe withdrawal rate with Bill Bengen. [0:42:52.8] The effects of cyclically adjusted price-earnings on safe withdrawal rates with Bill Bengen. [0:47:20.6] Final thoughts on the 4% rule with Ben and Cameron. [0:51:37.8]  

Scott's formal bio from Amazon: "Scott has spent his career as a storyteller connecting people with ideas. Along the way, Scott's work has generated millions of views through a feature-length documentary, multiple televisions series, short films, and a diverse range of commercial projects for Microsoft, NBC, Facebook, FOX, Taylor Guitars, Wired, and others. Now, Scott has created Playing with FIRE, which explores the growing community of frugal-minded folks choosing a path to financial independence and early retirement. He and his family reside in Bend, Oregon."Resources to Connect With Scott: Scott's Personal Website: http://www.scottrieckens.com/Scott's FIRE Planning Tools and Resources: https://www.playingwithfire.co/ Scott's Documentary: https://www.amazon.com/Playing-Fire-Pete-Adeney/dp/B081J5B63Y/Scott's Documentary Excerpts: https://www.youtube.com/channel/UCwi5OBtwixXB6pWl6ax7p1gScott's Book: https://www.playingwithfire.co/the-bookScott's Instagram: https://www.instagram.com/playwithfireco/We also mentioned 1729 and Network States by Balaji S. Srinivasan.Help The Louis and Kyle Show:If you enjoyed this episode, please share it with a friend or leave a review!If you want to reach out to us, please do so on Twitter: https://twitter.com/LouisKyleShowEmail us: LouisandKyleShow@gmail.com

Taylor & Scott Rieckens started a very public journey towards FIRE (Financial Independence Retire Early) a few years ago. They developed a documentary entitled "Playing with FIRE" that received high praise from publications like the US News calling it one of the "Top 10 Best Finance Movies of the Decade". Nicole and I wanted to check in with these two filmmakers, parents and financial independence enthusiasts and see how their FIRE journey has progressed over the past few years. You know, see if they are still playing with FIRE! SHOW RESOURCES Playing With FIRE - The Documentary: https://amzn.to/35UA816 Playing With FIRE (Website): http://playingwithfire.co

Learn how to gain financial independence by joining the FIRE movement and investing in your future and retiring early. What does your life look like right now? Do you wake up, go to work, do your work duties, leave at 5:00, head home, cook dinner, and then start over again tomorrow? How long do you plan to live this life? Until you turn 65? Well, with the FIRE approach you can achieve financial independence much quicker. FIRE stands for Financially Independent Retire Early and the basis is to simply cut down your yearly spending and invest your savings. Through compound interest and the right investments, you can achieve enough wealth to fund your lifestyle for an eternity! Sounds too good to be true, but anyone can achieve financial independence by following the FIRE approach. Playing With FIRE follows Scott Reickens and his family as they begin their new lifestyle change. Learn about Scott’s firsthand experience in adopting the FIRE ideals and see how you can cut down your own spending, align your spending habits with your values, and gain financial independence in record time. Do you want more free book summaries like this? Download our app for free at https://www.QuickRead.com/App and get access to hundreds of free book and audiobook summaries. DISCLAIMER: This book summary is meant as a preview and not a replacement for the original book. If you like this summary please consider purchasing the original book to get the full experience as the original author intended to. If you are the original author of any book on QuickRead and would like us to remove it, please contact us at hello@quickread.com

Playing With FIRE - How Far Would You Go for Financial Freedom? by Scott Rieckens. While stuck in traffic one sunny morning, Scott Rieckens discovered a podcast that would change his life forever. Its compelling words spoke to him at the right time in his life. Scott was ready for a change. He had been searching for the million-dollar idea that would help him get more out of life. The podcast was about reaching financial independence at a young age. It spoke to questioning the status quo, putting happiness ahead of everything else by setting a real-life goal and, most importantly, reaching it. Scott Rieckens was hooked. He knew he had discovered his million-dollar idea. FIRE was the conduit by which he would build a new life—a life of freedom from the 9-to-5, freedom from financial stress, and with a clear goal in sight. Are you ready to discover your own path toward true happiness?

On this episode, sponsored by Insuring Income, Scott Rieckens, author of Playing with FIRE, joins Tim Ulbrich to talk about his journey towards achieving FIRE. Scott digs into the ins and outs of the FIRE movement, why he and his wife decided to leave their friends and family in San Diego, how to calculate your early retirement number, and strategies for implementing your own FIRE plan.  Mentioned on the Show: Insuring Income: Get Quotes and Apply for Term Life and Disability Insurance  Playing with FIRE Playing with FIRE: How Far Would You Go for Financial Freedom by Scott Rieckens Playing with FIRE: The Documentary Mr. Money Mustache: Financial Independence Podcast Mr. Money Mustache: The Mad Fientist FIRE Retirement Calculator YFP Planning: Financial Planning for Pharmacists Jonathan Mendonsa ChooseFI Vicki Robin Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Domingues The Minimalists Brad Barrett Follow Playing with FIRE on Twitter: @playwithfireco Follow Playing with FIRE on Instagram: @playwithfireco

If you're looking for something to stream over the next week or so, we're going back into the archives this weekend. First up is the FIRE movement. Today we're re-airing an interview with Travis Shakespeare, director of a documentary called Playing with FIRE, which follows 35 year old Scott Rieckens, his wife Taylor, and their toddler Jovie as the family decides to embark on a year-long odyssey to understand the rules of the FIRE movement and test their willingness to reject the standard narrative of adult life. When Scott hears a prominent leader and “early retiree” in the FIRE movement subculture interviewed on a podcast, he enlists his wife to abandon everything they’ve been taught about the role of money in adulthood and instead focus on pursuing financial independence.  But doing so requires an about face since their current path has them spending every dime they make living the “Instagram” life in an expensive San Diego suburb, driving luxury cars, and eating at fancy restaurants.  It’s an interesting tale full of ups and downs. If the FIRE movement is something you’re interested in, this film is a must watch. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices

For this episode of the Rational Reminder Podcast, we review our year by playing back and discussing a collection of the most impactful moments of the show from 2020. This has been a drastic year filled with many learnings for us all, and in today’s show, we cover topics of happiness, decision making, dealing with uncertainty, and the connection that financial planning and investing have to all of this. We collect some amazing gems of wisdom from guests like Annie Duke, Ken French, Michael Kitces, Patricia Lovett-Reid, and a whole lot more, whittling down an original list of over one hundred of this year’s finest moments to a collection of just 45. The show starts out exploring themes of the connection between wealth and happiness, keeping cool in stressful times, and the transformations that crises kickstart. From there, we talk about the importance of models and systems for informing investing and behaviour in general, and the idea that unexpected outcomes swamp expected ones in the short term. We also look at what market history has to say about staying in your seat rather than market timing when things look bleak. Next up, we cover themes of the value of a flexible approach to retirement spending, how families should think about financial planning, whether 60/40 portfolios are dead, and why stock market returns in the U.S. are higher under Democratic presidents. Moving onto the subject of decision making, we explore some of our guests’ thoughts on evaluating decisions, outcomes bias and the role of luck, and more. We also consider the topic of human capital, how it relates to investing, and what we should really be spending our time on. The subject of the convergence of brokerage firms and financial advisors then leads to a great exploration of the role of financial advisors. We wrap up with some extra special perspectives on how optimal financial planning should be geared around the person that you want to be rather than maximizing wealth for the sake of it. Tune in today for an amazing overview of the year and to hear all the ways we have changed and grown thanks to our incredible guests.   Key Points From This Episode: Looking back on the year: Pandemic adjustments and how this podcast has grown. [0:00:15] Shoutouts and Cameron’s method of putting past clips together for today’s show. [0:06:20] Brian Portnoy and Andrew Hallam on wealth and happiness. [0:09:15] Dealing with stress and volatility with Dr. Moira Somers and Dave Goetsch. [0:13:48] Craig Alexander on market volatility and Jim Stanford on crisis and revolution. [0:18:27] Dave Goetsch and Greg Zuckerman on the benefit of models and systems. [0:23:11] The role of unexpected returns in outcomes and how to deal with this. [0:27:04] Small and value stocks relative to the market with Dr. William Bernstein. [0:33:09] Ken French and Cliff Asness on whether ‘this time is different’. [0:35:29] Enduring tracking error with Cliff Asness and Andrew Hallam. [0:38:37] Cliff Asness on whether 60/40 is dead and Lubos Pastor on why stock market returns in the US are higher under Democratic presidents. [0:41:00] Changing your risk portfolio when the market is dropping with Ken French. [0:45:25] Market timing versus awareness of investing history with Mark Hebner and Dr. Bernstein. [0:48:20] Wade Pfau on how expected returns fit into financial planning and the ‘safety first’ approach. [0:52:15] Moshe Milevsky on retirement spending and Pattie Lovett Reid on addressing one’s financial situation. [0:56:13] Annie Duke, Ken French, and Victor Ricciardi on making and evaluating decisions. [1:00:05] Greg Zuckerman on the role of luck in decisions leading to positive outcomes. [1:08:15] Forecasting as a way of knowing the range of outcomes with Craig Alexander. [1:11:15] Moshe Milevsky and Dr. Bernstein on human capital, financial planning, investing and asset allocation. [1:13:34] Josh Brown on what to spend your time on and Fred Vettesse on when to start saving. [01:16:28] Michael Kitces on the convergence of brokerage firms and financial advisors. [01:19:20] Dennis Mosey Williams and Ken French on financial advice for gaining wealth and being content. [01:20:57] Allison Schrager on the role of financial advisors for mitigating systematic risk. [01:25:00] Mark Hebner on the role of financial advisors for explaining a range of outcomes. [01:26:38] Scott Rieckens and Dennis Mosey Williams on what finding happiness means. [01:30:03]

On this episode of the His & Her Money Show, we're talking to a couple who has first-hand experience on what it takes to plan, budget and pay your way to total debt elimination. Brandon and Audri have been married 14 months and in that time, while they're still in the middle of their debt-free journey, so they've knocked out $30,000 of debt and are going strong! WHAT YOU WILL LEARN Keeping up a flexible lifestyle even while living within the budget The benefits of having positive money role models Brandon and Audri break down their phase-based debt elimination plan Finding a money management strategy that fits you both as a couple Understanding interest rates How Brandon and Audri are staying on track to continue knocking out their debt in the future   RESOURCES MENTIONED Playing With FIRE (Financial Independence Retire Early): How Far Would You Go For Financial Freedom? by Scott Rieckens 

Today's episode features the star of the Playing With Fire documentary, Scott Rieckens. Scott found himself saving 8% an heading towards a lifestyle that seemed unsustainable. The FIRE movement showed him that his value/happiness was not aligned with his spending. Scott and his wife made an amazing transformation and shared it with the world. Listen, learn, and let us know what you think about Scott's amazing journey. Episode Summary Scott's Background His Dad was in the Navy so he picked up and move many times. His Mom would always try to pick up a job at the new location She also handled the bills and investing outside the pension At a certain point, Scott realized his lifestyle wasn't sustainable He was trying to take on more and his spending was also increasing Then he found the FIRE community That took his focus just from income streams to also include responsible spending Entrepreneur Focus Scott found himself laid off three years after college He and a friend spent three months to put together a business plan They raised a couple hundred thousand dollars to build an indoor golf center But as they worked the projections, they ended up scrapping the idea Then he goes back to the drawing board and back to the small business center for help When Scott goes there for advice, the advisor realizes Scott has social media experience In 2009, very few people had this experience and the advisor encouraged him to pursue that route From then on, he's been an entrepreneur Scott recommends the book The War of Art for entrepreneurs Embracing FIRE Scott recalls the Chautauqua trip in Ecuador with people from the FIRE movement There he learned that if this didn't work, he'd just be going back to work like everyone else That realization made him feel much more comfortable with the attempt at hitting FIRE Scott then breaks down why everyone doesn't embrace a journey of financial independence Not being in the right place in life or being afraid of what they could uncover We also talk about the taboo around money Playing With Fire Scott's original idea was to go around interviewing people about the movement Then it swapped to him actually going through the journey and transformation He talks about how difficult and invasive the documentary Scott also the moments the camera missed Now Scott is taking the Playing With FIRE brand into a Podcast   Key Takeaways Awakening: It's so cool to listen to someone explain the process of totally shifting your outlook on life as Scott did with his spending Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside Call to Action Make a list of the 5 things that you value the most and that brings you the most happiness. Then reflect on what percentage of your budget is spent on items from this list. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry.

The recent film, Playing with FIRE details the particulars of the FIRE Movement in a way that is accessible, informative, and impactful. Both Cameron and Ben were hugely impressed with the film and the argument it makes for the framework of FIRE. Today we are joined by the producer and star of the film, Scott Rieckens, to discuss the movie and his own journey to reach financial independence. In much the same way that the film does, Scott makes a compelling and inspiring argument for the central philosophy of the movement, emphasizing what many of us will agree are the most important part of our lives and the way we can think about these to maximize our health and happiness. We discuss values and decision making, and how the FIRE perspective accounts for psychological and emotional changes to what is meaningful in your life. Scott explains the reframing that occurs with the system and the important aspects of it, especially those that matter in an introductory setting. We talk about communication and upkeep, the 4% rule, and the individual nature of your own financial strategy. Ultimately the ideas of FIRE are just ways to think about what is really important to you and your family and they provide a way to focus and enhance these. For this truly inspiring and potentially life-changing discussion, be sure to listen in with on the Rational Reminder! Key Points From This Episode: Scott's own understanding of FIRE and what it comes to mean in his life. [0:04:25.4] The initial connection that Scott had with the FIRE movement before making the film. [0:05:23.2] Shared values and finding common financial ground in a life-partnership. [0:08:50.8] Mental changes that Scott and his wife, Taylor, made in response to the ideas of FIRE. [0:11:57.5] Reframing your decisions and the necessary information to do this. [0:18:01.9] Social changes and the impacts of the philosophical alterations Scott made. [0:22:48.1] How Scott has communicated these ideas to his daughter as she has grown older. [0:29:51.4] Scott's complete gratefulness for his new relationship with money. [0:33:23.8] First steps to take in the process toward financial independence. [0:37:27.4] Getting a grip on the '4% Rule and how it can guide your decisions. [0:41:39.6] Increasing income versus decreasing spending and adjusting accordingly. [0:46:41.2] Applying these ideas to something beyond our selfish needs. [0:51:05.4] The multitude of things we can all do with more time in retirement! [0:56:05.4] Comparing the changing definition of success for Scott. [0:58:11.4] The information that is now available for a framework for happiness. [1:01:55.4]

Have you ever thought about altering the entire course of your life? Of packing up, and leaving behind everything you know? How about filming a documentary about the entire experience? That's exactly what Scott Rieckens did. Scott, along with his wife Taylor, are the subjects of a recently released documentary, titled Playing with FIRE. The film takes viewers along the journey that led Scott and his wife to give up their comfortable San Diego lifestyle in pursuit of financial independence. Scott joins me this week to share some of his story, and discuss what it was like to shoot a documentary. You can find the show notes for this episode at https://maplemoney.com/scottrieckens It's February, which means that time is running out to make your RRSP contribution for the 2019 tax year. Opening an RRSP through our sponsor, Wealthsimple, can get you a bigger refund while helping you save on investment fees. MapleMoney readers get $10,000 managed for free by opening a new account, or by transferring their RRSP to Wealthsimple. To open your RRSP, head to https://maplemoney.com/wealthsimple today.

We are kicking off 2020 with some heavy hitters, including an Emmy-nominated producer who recently overhauled his family’s financial future with one tiny but major concept that could also change your life: FIRE (Financial Independence/Retire Early). If you are wondering how you can retire early and what it may take, if you’re sick of the grind and cannot imagine doing your job for another 30 years, this show could be the one that gets you moving towards FIRE. And for anyone who hasn’t read the book that Scott Rieckens, our guest today wrote, Playing with FIRE, it’s a great place to start. About Scott Rieckens Scott Rieckens is an Emmy-nominated film/video producer and author. Scott has spent his career as a storyteller connecting people with ideas. Along the way, Scott’s work has generated millions of views through a feature-length documentary, multiple television series, short films, and a diverse range of commercial projects for the world's largest brands. Now, Scott has created Playing with FIRE, which explores the growing community of frugal-minded folks choosing a path to financial independence and early retirement.  Playing with FIRE showcases a growing subculture known as FIRE, that embraces frugality and financial optimization to achieve financial independence. Follow Scott and Taylor’s journey to acquire the one thing that money can’t buy: a simpler — and happier — life. Visit their website for more in-depth information about FIRE: Financial Independence Retire Early https://www.playingwithfire.co/   Watch the film today!  iTunes: https://tinyurl.com/yxxvgnql  Amazon: https://tinyurl.com/wmhrryo  Google Play: https://tinyurl.com/v5u3z3s  Vimeo: https://tinyurl.com/va2jou2  Check out the book Playing with FIRE, based on the documentary: https://tinyurl.com/sfwyjup Here’s to Getting Unstuck, Cynthia & Brennen We have a goal WE want to achieve to get 100 reviews on apple podcasts! If you feel inclined and haven’t already done so, we would love it if you would leave us a review and give some love back to help us achieve our goals.

The thirty-fourth NewRetirement podcast. This time, Steve Chen is joined by guest Scott Rieckens — two-time Emmy-nominated filmmaker and F.I.R.E. enthusiast — and discusses Scott's new documentary: Playing with FIRE.Recording, editing done by Davorin Robison.© 2019 NewRetirement Inc.

On the latest episode we’re joined by Travis Shakespeare, director of a new documentary called Playing with FIRE, which follows 35 year old Scott Rieckens, his wife Taylor, and their toddler Jovie as the family decides to embark on a year-long odyssey to understand the rules of the FIRE movement and test their willingness to reject the standard narrative of adult life. When Scott hears a prominent leader and “early retiree” in the FIRE movement subculture interviewed on a podcast, he enlists his wife to abandon everything they’ve been taught about the role of money in adulthood and instead focus on pursuing financial independence.  But doing so requires an about face since their current path has them spending every dime they make living the “Instagram” life in an expensive San Diego suburb, driving luxury cars, and eating at fancy restaurants.  Although everything they are doing is sanctioned by their friends, traditional education, and broad society, Taylor agrees that something is wrong when it becomes clear she’ll need to sacrifice the precious hours of her daughter’s childhood and work 40+ hours per week to continue paying for their lifestyle.  She agrees to uproot their lives and spend a year traveling around the country to meet the subculture’s mentors while living rent free to save as much as they can. It’s an interesting tale full of ups and downs. If the FIRE movement is something you’re interested in, this film is a must watch. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. Connect with me at these places for all my content: https://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://www.stitcher.com/podcast/jill-on-money https://apple.co/2pmVi50 "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Want more free audiobooks like this? Download our app for free at QuickRead.com/App and get access to hundreds of free book and audiobook summaries Learn how to gain financial independence by joining the FIRE movement and investing in your future and retiring early. What does your life look like right now? Do you wake up, go to work, do your work duties, leave at 5:00, head home, cook dinner, and then start over again tomorrow? How long do you plan to live this life? Until you turn 65? Well, with the FIRE approach you can achieve financial independence much quicker. FIRE stands for Financially Independent Retire Early and the basis is to simply cut down your yearly spending and invest your savings. Through compound interest and the right investments, you can achieve enough wealth to fund your lifestyle for an eternity! Sounds too good to be true, but anyone can achieve financial independence by following the FIRE approach. Playing With FIRE follows Scott Reickens and his family as they begin their new lifestyle change. Learn about Scott’s firsthand experience in adopting the FIRE ideals and see how you can cut down your own spending, align your spending habits with your values, and gain financial independence in record time.

Scott Rieckens, author of Playing With Fire, and producer of the recent documentary by the same name, walks us through his journey into the FIRE movement, (Financial Independence, Retire Early) and how he learned to prioritize his spending and saving goals — and how we can do the same. In Mailbag, questions about taking a job you’re overqualified for in order to get your foot in the door, and what to do for health insurance when you’re between jobs.

Sandy and Ryan talk with super-saver Scott Rieckens about the FIRE movement, his book, Playing with FIRE and the upcoming documentary of the same name he stars in. The hosts discuss strategies for traveling safely, and dish on timeshare scams and September bargains in a new edition of Deal or No Deal. --LINKS-- Is your vacation destination safe? https://www.kiplinger.com/article/spending/T059-C000-S002-is-your-vacation-destination-safe.html; State department’s travel advisories: https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories.html/; FIRE savers race to retirement: https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories.html/; Check out Scott’s book and documentary: https://www.playingwithfire.co/; Beware timeshare exit scams: https://www.kiplinger.com/article/retirement/T048-C000-S004-don-t-fall-for-timeshare-exit-scams.html; How to get out of a timeshare: https://www.kiplinger.com/article/real-estate/T059-C011-S002-how-to-get-out-of-a-time-share-deal.html; Smithsonian Museum Day: https://www.smithsonianmag.com/museumday/museum-day-2019/; Yoga month: http://www.yogahealthfoundation.org/yoga_month

We have two exciting announcements that mom wanted us to share with you about today's show: One - We're answering your letters, including a BUNCH of them about the Roth IRA, named after a Congressman whose birthday happens to be this very date. In celebration, we're cracking open the mailbag with our friend Scott Rieckens from the Playing With Fire documentary. He stopped by the basement while here for a sold-out screening, and while he was here we put him to work because OG and Joe...well, you know. On the topic of letters...if you'd like to ask us a question, remember now to use the Haven Life line (StackingBenjamins.com/voicemail). We stopped accepting new letters months ago and we are just now seeing the light at the end of the tunnel on letters! Hurrah! Two - Mom wanted us to remind you to take off your shoes when you walk inside the house. She works hard to keep the rugs clean, and you'll just mess them up. That's all. Enjoy!

Scott Rieckens and his wife Taylor are pursuing financial independence. They are working on finding the right savings rate for their family. And it's not that easy.

In episode DocG and I interview 4 published authors and ask them what's the motivation behind writing a book and does it have anything to do with financial independence? Guests are: Scott Rickens from Playing With Fire Dr. Andrew Wilner at DrWilner.org David Sawyer author of Reset: How to Restart Your Life and Get FU Money and blog at Zude PR and B.C. Krygowski    

Scott Rieckens felt something wasn't right in his life. While he lived in a beautiful corner of the world, and despite he and his wife having fantastic jobs, life just wasn't what he'd expected. So, he did something that few people do...he actually decided to change. The results? He's teamed with Emmy Award-winning director Travis Shakespeare and created a documentary called Playing With Fire, which not only chronicles he and his spouse Taylor's journey toward a better future, but it also explains the concepts behind a movement called FIRE (financial independence/retire early). We'll talk to the makers of the film about how they created the final product. We'll preview the concepts Scott and Travis explain in the movie, and finally, we'll share some details about how and when you may be able to see it yourself. And in our headlines segment Joe will talk to Meredith Ryan Reid about MetLife's new study showing that Gen Y women are behind other groups on both their finances and their confidence in the workplace. Meredith will give us some advice and strategies on what to do when you find yourself falling behind. Later in the show we'll throw out the Haven Lifeline to Katherine, who has some questions on calculating her net worth. Wouldn't paying off debt also lower the amount of cash available to you, in turn keeping your net worth the same? Then, in our letters segment, we'll field a question from Wendy about what she should be doing with her full service brokerage account. She's taken some time to learn about commissions and high annual fees. What's the best plan on moving everything over to a new, low fee account? Of course, we'll also make some room for some of Doug's leprechaun-themed trivia. Just how do leprechauns earn all that gold they hide away at the end of the rainbow? Thanks to AcreTrader for supporting Stacking Benjamins. Learn more at AcreTrader.com/sb. Looking for something deeper than what we give you on the show? Three days a week not enough? Subscribe to our weekly newsletter: The Stacker.

A successful entrepreneur living in Southern California, my guest today had built a “dream life”; a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, he was creatively stifled, depressed, and overworked trying to help pay for his family’s beach-town lifestyle. Then one day, he listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. My guest today is author, filmmaker and FIRE fanatic Scott Rieckens. We're diving into the FIRE movement in this episode, something I've been wanting to cover for a long time on Informed Choice Radio. What's FIRE? It stands for Financial Independence Retire Early, and it's a rapidly growing community of personal finance extremists. In essence, FIRE means tracking your spending and making adjustments to achieve and maintain a standard annualised spend, usually 50% or better. Yes, Scott and other advocates of the FIRE movement are successfully saving half or more of their take-home pay each month, as part of their journey towards financial independence and early retirement. By following the FIRE principles, you save up enough for a 4-6 month emergency fund, and once that’s funded, put the leftovers in tax advantaged accounts invested in simple index tracker funds. Anything left over once those accounts are maxed out are also put into investments. Most people try and stay as passive as possible with their investments so they can spend more time doing what brings them the most happiness. Financial Independence, Retire Early. You're going to enjoy this one. Here's my conversation with Scott Rieckens, author of playing with FIRE, in episode 414 of Informed Choice Radio.

Early one morning while commuting on a busy highway to work, Scott happened upon a Tim Ferriss podcast interview with Mr. Money Mustache on the topic of financial independence and retiring early (FIRE). He was so electrified by the concept that he and his wife could actually quit the rat race and create a life on their own terms, that he knew he would have to learn everything he could about it. His experience as a filmmaker enabled him to document their journey in the film + the book "Playing with Fire" and empower others to do it too.  This is a story of how one couple redefined their values, refocused their priorities, and decided to create a life on their own terms through financial independence. Through their journey, you will see how to you can do it too.  Connect with Scott, the book and the film at https://www.playingwithfire.co/ Resources: mrmoneymustache.com                  https://tim.blog/2017/02/13/mr-money-mustache/                   https://www.tugg.com/  

Scott Rieckens was raised in a Navy family. He lived on base and often shopped in the commissary. It gave him a rather skewed sense of what things actually cost. Fast-forward to adulthood. He knew he should be investing, but he wasn’t sure what to...

***We are pumped to start releasing an additional episode every week that we’re calling our money pro episode, or $Pro for short! Every Monday we’ll hear from a $Pro as they discuss a topic that they’re passionate and knowledgeable about, and then we unpack it even further and discuss the impact that topic has on our financial lives.*** Too often in life it’s like we’re sleepwalking- as if we’re drifting through life without any clear guiding principles. Due to that, our day-to-day is filled with different people, companies/advertising, and events having more sway over our lives and money than we do. Scott Rieckens is here to change that with his approach to creating a personal mission statement and to remind us to proactively take control and start directing our own future! This is a topic that is near and dear to his heart. After realizing that his growing family was in a state of overconsumption, he and his wife re-assessed their family’s priorities which then led them to cancel their boat club membership, sell their BMW, and move away from pricey Coronado, CA. They didn’t have to do any of this, but they chose to do all of this after creating a personal mission statement! Listen as we break it down and go through how you can create your own mission statement- plus we share our personal mission statements as well. During this episode we enjoyed a Cold Mountain by Highland Brewing which you can find and learn all about on Untappd. A big thanks to our friends Clark and Nanci in Asheville for donating this delicious beer! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you. Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

Scott Rieckens is an Emmy-nominated film/video producer, serial entrepreneur, and author. Scott has spent his career as a storyteller connecting people with ideas.

Colin chats with an old friend and aspiring FIer, Scott Rieckens. Today, Scott is focused on producing "Playing with FIRE", a documentary that uncovers the growing the community of frugalists, mustachians and valueists choosing a path to financial independence and early retirement.

Episode 86: Financially Independent Retired Early (FIRE) Community, Non-FIRE Neighbors, Switching To Internet Cable TV On this episode of Two Frugal Dudes, we’re Playing with FIRE (Financial Independence Retire Early) with guest Scott Rieckens from PlayingWithFire.co. Scott’s Journey Scott is a two-time Emmy nominated film director, currently working on a [...]

#131: Scott Rieckens and his wife Taylor enjoyed a classic Southern California lifestyle. They lived near a gorgeous beach in sunny San Diego. They frequently dined at sushi restaurants. They drove a BMW. But after the birth of their daughter, everything changed. Taylor, an intelligent, career-driven, independent woman, suddenly didn't want to spend any time away from her new baby girl. And Scott had no idea what to do. Their luxury lifestyle depended on dual incomes. At first, he tried to come up with a million-dollar idea. If he could just create a wildly successful business, he thought, he could fix this problem. He started binge-listening to podcasts, trying to figure out how to pull in seven figures, fast. Then he discovered the financial independence movement. And suddenly everything made a lot more sense. Scott realized that if they gave up their consumption habits -- if they moved to an area with a lower cost-of-living, drove less expensive vehicles, or maybe even lived in an RV for awhile -- they could enjoy the life they wanted. They could trade luxury labels for time-freedom. He crunched a few numbers and realized that they could reduce their spending by 70 percent. But it would require HUGE changes, including an out-of-state move. He wondered how to suggest this idea to his wife. ______ What did Scott say? How did Taylor come on-board? And (spoiler alert!) ... how did they get so enthusiastic about financial independence that they decided to create a documentary about their journey into this lifestyle? Find out in today's episode.

Scott Rieckens is the filmmaker behind the upcoming documentary Playing with FIRE which uncovers the growing community of people choosing a path to financial independence and early retirement. Scott has been trusted by some of the biggest brands in the world, including Facebook, NBC, Taylor Guitars, FOX, and more. 

037R | Today we discuss Episode 37 with Scott Rieckens, the filmmaker behind the FI documentary Playing with FIRE, plus emails and voicemails from the community and a discussion of reaching FI in a high cost of living area. The great American Eclipse and our viewing Brad’s vacation and how they spent $0 on hotels for 16 nights The value of slow travel and why it makes vacation dramatically better. Vacation doesn’t have to be stressful How expectations management is so crucial to life and on vacation Time is such a crucial tool Scott’s slow travel with his family and the yearlong adventure they are on visiting family and friends while filming the documentary There should be creativity and excitement in your future and your decisions The list of things that made Scott’s wife happy on a weekly basis and how this was an inspired decision by Scott Sell your value first and then grow your network. How Scott did a masterful job at this by creating a network and even leaning on our network How Brad connected instantly with Scott and wanted to help him This documentary can help take the concept of FI to the mainstream Email from Paige on limiting beliefs and how it isn’t “impossible” to live in a high cost of living area for under $50,000 per year Paige thinks that you may need to be a “little more intense” to hit FI on a low income, but that it is certainly possible and it is all about savings rate How we all have limiting beliefs that we need to work through to “think about a problem a little bit differently” Brad’s decision to leave Long Island, and how that helped the path to FI. But could they have been more intense and stayed and still reached FI? You can be on the path to FI moving forward no matter where you’ve been or what “bad” decisions you’ve made in the past There’s no perfect person or situation for FI – just try to be a little better going forward to make positive changes Email from Art Vandelay and how they love the show and have made a lot of positive changes since listening. Should we stop the FIRE from spreading? We need local leaders for ChooseFI local meetups so please reach out to us Voicemail from James about his successful trip from Nashville to Europe using travel rewards points Voicemail from Rachel about how to hack your TSP to save money on your student loans  

037 | In today's podcast we speak with Scott Rieckens, the creative force behind the upcoming FI documentary called 'Playing With Fire' and we learn about his FI journey and this exciting project. In Today’s Podcast we cover: A discussion with Scott Rieckens, the creative force behind the upcoming FI documentary ‘Playing With Fire’ we’ve discussed on previous episodes Scott is devoting the next year of his life to create this documentary about the FI community Scott’s background story and how he found FI How they were on the ‘hamster wheel’ just working to pay for the lifestyle they were living The importance of a side hustle or entrepreneurship Scott consumes a lot of media, including podcasts and found the Tim Ferriss show especially valuable Lifestyle creep in their living arrangements in Coronado How Scott found Mr. Money Mustache and the FI community through the Tim Ferriss podcast Living a life of happiness while pursuing Financial Independence You don’t need $10 million (or a similar amount) to retire early How Scott enjoyed the positive nature of the FI community How Scott presented the FI concept to his wife and the thought of ‘why isn’t everyone doing this?’ How Scott framed FI to his wife with the focus on happiness Looking at expenses in the framework of a 10-year timeline Scott’s wife’s list of the things that make her happy on a weekly basis Considering moving out of Coronado and California generally: Geographic arbitrage How your entire life costs less when you leave a high cost of living area How they approached the decision to move out of Coronado and what that process looked like How moving allowed Scott to take a year of his life to create the FI documentary Playing With Fire Scott’s wife was not only on board with the decision, but she wanted to travel in a camper and go on an adventure Pursuits that matter to them that they now can pursue on the journey to FI The timeline behind Scott’s FI journey and decision to create the FI documentary Scott’s surprise that no FI documentary already existed and his start approaching us at ChooseFI to discuss the project How the idea of FI can be life-changing for so many people How this documentary can help spread the message of FI How he decided to call the documentary ‘Playing With Fire’ Hot seat questions Scott’s biggest financial mistake was taking on too much student loan debt Scott would have ‘house hacked’ to buy property in his college town if he could do it all over again 

031R | In today's Friday Roundup we discuss travel rewards, flipping holidays upside down, buying presents, the upcoming FI Documentary and much more. Submit your applications for the contest to win a one-on-one business coaching relationship with Alan Donegan from PopUp Business School Brad’s slow travel vacation through New York State this August How we’ll publish episodes while on vacation and living a FI lifestyle Discussion of Episode 31 on travel rewards What to do with your strategy after Chase cards Clarification of Brad’s past and future travel rewards strategy Noah’s feedback about an alternate option for staying under the Chase 5/24 rule Feedback from the audience: Pastor FI on how he switches Mother’s Day and Father’s Day Feedback from Frank on not doing things on holidays or other busy times. Don’t wait in line “with the lemmings” If you’re busy all the time, you need to come up with strategies to make your life better How Jonathan feels that buying cards for holidays are a terrible waste of money Brad and Laura don’t exchange presents for any holidays/birthdays/etc. Jonathan’s spending habits for presents for his friends and family How essential the concept of progress is in the pursuit of FI and the pursuit of happiness Voicemail from Scott Rieckens on how he’s starting a documentary about the FI community How we can grow the FI movement through this documentary and by spreading the word We’re going to have Scott on the podcast and he’s going to tell us about his Kickstarter campaign for the documentary Question from Bonnie about tax implications in early retirement Response from Keith from the Wealthy Accountant Follow up from Brad on action he took to sell his comic book collection Email from David how he wants to hire Jonathan’s wife Dani to do an audio book version of the book he intends to publish Frugal wins of the week from our community Can you share items with your neighbors and save money? 

026R | In today's podcast we discuss our takeaways from Episode 26 with Physician on FIRE plus some exciting developments in the Financial Independence world as well as feedback, questions and comments from the ChooseFI community. In Today’s Podcast we cover: The Friday Roundup after the Physician on FIRE interview from Episode 26 Information for the high income professionals and how it’s important to give details for that aspect of our audience Does the perfect answer exist for high income professionals pursuing FI? It might not be possible to defer enough money to get them out of that high marginal tax rate “A dollar saved is two dollars earned in the 50% tax bracket.” A brilliant quote from Physician on FIRE Everything comes down to living a frugal lifestyle “Doesn’t your spouse deserve a really great lifestyle?” asked the White Coat Investor. “Well yes, and she’ll have one, but she deserves my time.” Responds PoF. The fundamental flaw in the ‘retirement calculators’ that are published online for “normal people.” Your current income is not relevant when considering your retirement number. It is all about your expenses. For new physicians, you need to avoid the blowup in spending on cars and expensive homes when you get that first big paycheck You need to keep your fixed expenses down to a manageable level and you can splurge at the margins on other things Don’t fall into peer pressure to live an expensive lifestyle. Maybe move to a smaller town and practice geographic arbitrage in the US Brad’s own geographic arbitrage in his life moving from Long Island to Richmond, VA Optimized charitable giving with a ‘donor advised fund’ Discussion of the ‘backdoor Roth’ that Physician on Fire mentioned on the episode and the applicability for high income earners A new Camp Mustache event was announced for January 2018 and the tickets are available The ChooseFI private Facebook group is running and extremely vibrant and we’d love for you to join us Scott Rieckens contacted us about a documentary on the FI community that he is embarking on The FI community is on the verge of a breakthrough in the US Brad’s mom is listening to the podcast and had a frugal win of the week Feedback from PastorFI: College hack for student housing Discussing the call from Mark from Student Loan Freedom from Episode 25R about permanent life insurance Feedback from about Ken’s prior call about the ESPP from Olaf. He clarified the tax treatment on the purchase through the Employee Stock Purchase Plan Don’t let paying taxes get in the way of making a smart financial decision Noah from Money Metagame’s call about how to remove escrow to potentially save hundreds of dollars per year Part 5 of the case study with Paul including Paul’s feedback on his daughter’s college plans plus Paul’s summary of the case study Frugal Wins of the Week from the ChooseFI Community Itunes Reviews of the Week and Book Winners Links from the show: Physician on Fire Frugalwoods article on Donor Advised Funds Camp Mustache tickets Join our private Facebook group Scott Rieckens website Mr. Money Mustache on the Tim Ferriss podcast Student Loan Freedom KeepThrifty.com Money Metagame Mutual Assurance Society of Virginia ToDoIst Early Retirement Now Google Docs from Big Ern at Early Retirement Now: Google Doc master file for Safe Withdrawal Rates Big Ern's explanation on how to use this file Doc with Paul's case study numbers with Social Security Doc with Paul's case study numbers without Social Security Fiery Millennials