Most of us don’t enter our careers with the aim of retiring early, and our guest this week certainly didn’t think early retirement would be an option when he stopped enjoying his career. Chris Mamula qualified as a physiotherapist in Utah but quickly realised he did not want to stay in the industry for 30 or 40 more years. When his wife discovered she was pregnant, Chris dived into the world of personal finance and discovered the Financial Independence, Retire Early (FIRE) movement. Having spent their entire marriage living off one salary and saving the other, Chris found that the maths and core values of the FIRE movement resonated with him. Since discovering the FIRE movement, Chris has used his personal journey as inspiration to write about how others could live the best life possible and retire early. Partnering with others passionate about gaining financial independence, Chris has written a book Choose FI: Your Blueprint to Financial Independence, and runs the blog Can I Retire yet? In our conversation, Chris shares his attitude towards money, and how that has helped him, and his wife, reach financial independence and retire at the age of just 40 years old. Chris also talks to us about redefining retirement, and how you should live the life you want to at every stage of your life.
Lessons Learned in Early Retirement – Chris Mamula
The Retirement Wisdom Podcast
What can you learn about Early Retirement and the FIRE movement from someone who retired at 41 over three years ago? We catch up with Chris Mamula, of Can I Retire Yet.com. We first talked with Chris two years ago on his emerging lessons learned, how his early retirement lifestyle is evolving, and his recommendations for listeners who are considering an early retirement plan. He’s written a book since we last spoke (Choose FI: Your Blueprint to Financial Independence) and he shares his thoughts on why preparing for the non-financial side of early retirement is important.________________________We discuss with Chris: His story of deciding to retire at 41 What his life is like now 3+years later What he knows now that he wishes he knew then What he’s learned about priorities, uncertainty, and change The pros and cons of semi-retirement as an option How the FIRE movement is evolving in the pandemic His book Choose FI – and the experience of writing it. Advice on an early retirement planChris joins us from Utah.______________________Wise Quotes On Life in Early Retirement “Day-to-day life, it really couldn’t be any different. So we were living in this small town in Pennsylvania. Now we live in a ski town in Utah. Back then I was working a 40 plus hour week with a commute a half hour each way. Now, I still do some work. I write the blog and I’ve written a book since I left. So, I do some work, but it’s really all on my schedule because we live in a ski town. So in the winter, we ski four or five, sometimes six days a week. And in the summer I’m out hiking, mountain biking, doing things kind of every day. And, my family and I, we kind of fit work in around life. Whereas before I felt like we were just kind of always trying to squeeze life in wherever we could around our work schedules. So, from that perspective, it’s, it really couldn’t be much different.” On What He Knows Now That He Wish He Knew Then “I was certainly writing about the softer side of retirement, like purpose and meaning and structure, and all these things that we’re talking about. But I kind of wish I would’ve spent even more time on that part because I think the financial part gets a lot of the emphasis in retirement planning. There’s a lot of stuff you can’t know as far as like future market returns and interest rates and inflation and all that stuff. But you know, you can kind of play in and have contingencies. But, I just found that there’s just not a lot of information [about the softer side of retirement] I think it’s very individual for everybody on how you’re going to adapt and adjust and find purpose and meaning – and find that structure. Everybody’s a little bit different and I wish I would have focused maybe even a little bit more on that – or at least maybe had a little more grace for myself, as far as like having a little bit less expectations for retirement and just kind of going with the flow a little bit more.” On Risks and Mitigation in an Early Retirement Plan “I think a lot of times you can mitigate those risks. And another strategy that I kind of use is just taking little bite-sized steps…on something like retirement, which is so overwhelming. And so, doing something like semi-retiring and doing something like my wife dropping down to part-time work. We still made some massive changes. I let my license go. I’m not a physical therapist anymore. We moved across the country. Those are…kind of one-way decisions. But we also gave ourselves a lot of Slack and leeway, just by making more moderate and gradual changes in other areas. I mentioned how I love being in the mountains and I rock climb and I’d done high-altitude mountaineering and I’m a skier. And I think people look at that as this high-risk thing. But I think when you’re doing those types of activities, it really teaches you risk management and risk mitigation. And there’s a quote I love: “Getting to the top is optional and getting down is mandatory.” And it kind of just reinforces that whole idea of risk management and remembering what is most important – and what things can you not afford to lose. And then you can mitigate those risks – and you know the Mountain is always there. You can always go back to it, but your life? You only get one time.”___________________________Bio Chris Mamula regularly writes about financial independence while expanding the conversation around what retirement is and can be at CanIRetireYet.com. His articles have been featured on MarketWatch, DoughRoller, and Business Insider. He achieved financial independence and retired from his physical therapy career in 2017, at the age of 41. In addition to writing, he now focuses on being a dedicated husband, stay-at-home dad, and dirtbag/ski-bum depending on the season at his home in the mountains of Utah. ____________________________ For More on Chris Mamula Website Chris’ Book: Choose FI: Your Blueprint to Financial Independence Our first conversation with Chris Mamula____________________Podcast Episodes You May Like The Skill Set for Life’s Transitions – Bruce Feiler What Are The Keys To A Successful Retirement? Fritz Gilbert When Will You Flip the Switch? – Dr. Barbara O’Neill How to Retire Early and Live Your Life Fully – Leif Dahleen With the Freedom to Retire, Where Will You Plant Your New Tree? – Don Ezra Design Your Life and Get Unstuck – Dave Evans ___________________________ About Retirement Wisdom We help people who are retiring, but not done yet, discover what’s next. A long retirement is a terrible thing to waste. And a meaningful retirement doesn’t just happen by accident. We help you design the life and/or the second career you want. Schedule a call today to discuss how we can help you. _________________________ Explore retirementwisdom.com
Why FI Is Not An All Or Nothing Proposition With Chris Mamula
Inspire To FIRE Podcast (Financial Independence Retire Early)
Chris Mamula author of the book Choose FI: Your Blueprint to Financial Independence joins the show to discuss his FI journey & why he says FI is not an all-or-nothing proposition. The ChooseFI Book is the official blueprint to FI and a must-read! GREAT NEWS!!! Inspire To FIRE has partnered with The Financial Gym. They are a financial planning company with a fitness-inspired approach to your finances & they can help you get into great financial shape! They are experts in paying off debt, saving for a home, how to invest, & much more. On average people increase their net worth by $4,000 in the first 6 months. They are offering Inspire To FIRE listeners 15% OFF by using the code 15FIREPOD. This is a fantastic investment in yourself & one that gives you a return on investment you can't find anywhere else. So if you are looking for a personalized plan to boost your net worth give them a try! ***** Schedule A Free Consult ***** (Use Code: 15FIREPOD for 15% off) We Also Discuss - Writing The ChooseFI Book - Being A Valuist - Creating The Lifestyle That Makes You Happy Please Subscribe & Leave A Review Resources - Can I Retire Yet Blog - Eat The Financial Elephant Blog - Choose FI: Your Blueprint to Financial Independence Find More Episodes At InspiretoFIRE.com/Podcast These notes may contain affiliate links, which means I receive commissions if you choose to purchase through links I provide (at no extra cost to you). Thank you for supporting my work! Send in a voice message: https://anchor.fm/inspire-to-fire/message Support this podcast: https://anchor.fm/inspire-to-fire/support
174. Should your Investments Be Socially Responsible w/ Chris Mamula
Earn & Invest
Socially responsible index funds sound great in theory. Practically, however, is a whole different question. Are they worth investing in? Worth The extra cost. Chris Mamula did the research and answers these difficult questions. Plus, Earn & Invest 2020 wrap up.
You Can Retire Earlier Than You Think: The Early Retirement Journey of Chris Mamula
Gen Z Green
Chris Mamula retired from his physical therapist career at age 41. After poor experiences with the financial industry, he educated himself on investing and tax planning. In this episode, he shares his journey to early retirement by saving more and investing wisely. Tune in and find out how how he did it and how you can too!--- Support this podcast: https://anchor.fm/genzgreen/support
How Normal People Can Reach Financial Independence with Chris Mamula
Passive Wealth Strategies for Busy Professionals
Chris Mamula used traditional retirement planning principles, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. Today we are talking about his story of attaining financial independence. We also get into the lessons he taught in his book and things you can do to prepare for early retirement. [00:01 – 03:52] Opening Segment I talk briefly about great value that awaits you in this episode Let’s welcome our guest, Chris Mamula Chris talks about his background and how his journey began [03:53 – 14:41] How Normal People Can Reach Financial Independence Chris walks us through the strategies he used to be able to retire early Spend Less. Earn more. Invest better Chris weighs in on people’s mindset about spending less money Chris talks about the drawbacks of pushing to be debt-free as soon as possible Chris talks about how he was able to increase his incomeGives powerful advice about focusing on things where you can get a return on investment Chris shares what “Invest Better” means for him Quick Ad Break [14:44 – 19:19] Avoiding Exiting Too Early Chris shares some tips to overcome your fear and not push the “sell button” too early on your investments Chris talks about diversifying their portfolio [19:20 – 31:55] Early Retirement How do you know you are ready to retire? Chris gives his opinion about whether people can really handle early retirement Chris talks about his first time finding out about the FIRE movement (Financial Independence, Retire Early) Chris shares some of the things he learned from FIRE blogs Chris talks about the story behind their book [31:56 – 38:18] Closing Segment Quick word from our sponsors What is the best investment you’ve ever made other than your education? Going out more and spend time with my family What is the worst investment you ever made?Investing in a variable annuity What is the most important lesson that you’ve learned in business and investing?Ask more questions Final words from Chris and me Tweetable Quotes: “I think a lot of people are so focused on income and focused on how they are gonna go and get a college degree and they don’t look at what they’re spending on it. So, I would really focus a lot on acquiring skills but doing it in a way that makes sense. That you’re gonna get a return on your investment.” – Chris Mamula “Ask more questions and continue to ask until you find the answer that makes sense.” – Chris Mamula You can connect with Chris on https://www.caniretireyet.com/. Grab a copy of his book Choose FI: Your Blueprint to Financial Independence on Amazon. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.
Super Simple Financial Independence with Chris Mamula from Choose FI
The Dad Edge Podcast (formerly The Good Dad Project Podcast)
You might think that only accountants or finance geniuses can figure out how to retire early, but this is not true. Our guest today retired at the age of 41! Chris Mamula was a physical therapist who wasn’t excited when he thought about the future. He decided to educate himself on how to reach financial independence and he couldn’t believe how easy it was. Chris is a husband and dad who now enjoys an adventurous lifestyle on his own terms. He blogs at Can I Retire Yet, is part of the Choose FI movement, and is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. Today he shares his super simple financial independence tactics to help you put your wealth-building on autopilot. For the show notes and exclusive links mentioned in this episode go to gooddadproject.com/thursday224. ———— Join the Free Dad Edge Facebook Group at gooddadproject.com/group. Apply for The Dad Edge Alliance at gooddadproject.com/alliance. Follow us on Instagram at @thedadedge!
In this episode, Bob chats to financial mentor, blogger, podcast host, and author, Chris Mamula. Chris, set to follow the traditional path of work, save, retire and play, realized waiting to retire at 65 was not appealing. Chris questioned his assumptions of life and educated himself on investing, saving and tax planning, and with a little motivation and persistence, he found financial independence at 41. Now, he draws on his experience and writes about wealth building, DIY investing, financial planning, early retirement, and lifestyle design at Can I Retire Yet. He is also the primary author of the book, Choose FI: Your Blueprint to Financial Independence and co-host of the podcast Choose FI. Bob and Chris discuss the concept of F. I. R. E. (Financial Independence-Retire Early) and the three basic choices with money; spend less, earn more and invest better. Chris explains how he and his wife made intentional choices to learn the technical aspects of finance and money, to proactively change their future. Can you retire early? Yes – if you're willing to do the work! @caniretireyet, @choosefi