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This month’s selections start with a few perspectives on a topic front and center for many in this audience. How will we spend money and time in retirement?

The Best

We discuss the eye popping inflation numbers released this month and a few suggestions to help you maintain your lifestyle without depleting your assets too quickly. Other articles address important consumer advocacy issues.

I share a resource for parents concerned with raising financially literate adults. Closing things out are some great investing insights from members of the Bogleheads community and a big announcement for Bogleheads fans.

Enjoy and have a great month!

Spending Your Money (and Time) After Financial Independence

Ben Carlson discusses Why It’s So Hard to Spend Money in Retirement. He presents some interesting statistics that support what I’ve observed in conversations with blog readers and Kim’s and my difficulties shifting from saver to spender after achieving financial independence.

Physician on FIRE writes The Future is Unknowable. Spend it All or Sock it Away? He suggests the right answer likely doesn’t lie at either extreme.

Carl Jensen is thinking about retirement spending in a different way. He discusses how he is spending his time, writing 5 Years of FIRE Life.

Eye Popping Inflation

This month the Bureau of Labor Statistics released the most recent inflation numbers. The Consumer Price Index (CPI) ending March 31st increased by 8.5% over the past 12 months. Here are two opportunities to help deal with higher prices.

Tipswatch reports I Bond’s variable rate will rise to 9.62% with the May reset. This article explains that if you haven’t purchased I Bonds yet, doing so by April 30 guarantees a one year return of close to 8.4% for an investment with virtually no default or interest rate risk.

Related: I Bonds vs. TIPS

Next up is a great opportunity to help offset some of your inflating costs for those responsible with credit cards. My favorite rewards card, the Chase Sapphire Preferred® Card, recently increased their sign up bonus offer.

You can now Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. The card has a $95 annual fee.

Consumer Advocacy Issues

A few years ago I reviewed Health Care Sharing Ministries (HCSM) as a lower cost alternative to traditional health insurance to bridge the gap between employer provided coverage and Medicare. I wrote then, “there is no legally binding contract and no legal recourse for a member if financial needs are not met. This introduces a unique financial risk of HCSM that is difficult to quantify.”

Sadly, many families are figuring that out the hard way. Liuan Huska reports Health Care Sharing Ministry Sharity Leaves 10K Families with Millions in Unpaid Bills. This is a stark reminder to do your due diligence before trying to save money on something as vital as medical insurance.

ProPublica exposes another important issue consumers need to be aware of: The TurboTax Trap–How the Tax Prep Industry Makes You Pay.

Financial Independence for the Next Generation

Doc G created a discussion on the Earn & Invest podcast with bloggers and authors J.L. Collins and Doug Nordman and their adult daughters Jessica and Carol. They explored a topic that many of us with kids think about. Can You Teach Financial Wellness?

Bogleheads on Investing

Taylor Larimore is known as the “king of the Bogleheads.” Allan Roth shares Investing Lessons From Taylor Larimore’s 98 Years of Wisdom.

Christine Benz asks and answers Can a Taxable Account Beat a 401(k)?

Mike Piper asks and answers Do You Need a Financial Planner?

Bogleheads Conference

Vanguard founder John Bogle and his followers, the “Bogleheads,” have been very influential on my investing and life philosophy. So I’m happy to announce that after a two year hiatus, due to COVID, the Bogleheads Annual Conference is returning in 2022. 

I’m incredibly excited and honored to share that I’ll be one of the speakers. I’ll be sharing the stage with with many people I’ve learned from over the years and continue to admire.

Registration is now open. You can find the link here. The conference will take place October 12-14 near Chicago, IL.

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Valuable Resources

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  • Our Books

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[Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. Now he draws on his experience to write about wealth building, DIY investing, financial planning, early retirement, and lifestyle design at Can I Retire Yet? Chris has been featured on MarketWatch, Morningstar, U.S. News & World Report, and Business Insider. He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence. You can reach him at chris@caniretireyet.com.]

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