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This month’s resources cover a diverse array of important topics that will help you save more, invest better and retire sooner.
We start with a focus on current events. This month, the Supreme Court ruled decisively on the most recent challenge to the Affordable Care Act. We explore how the judgement impacts health insurance options for early retirees.
Another hot topic is inflation. Should you be more concerned? What you can do to protect yourself? Resources help answer those questions.
Articles also explore timeless topics for readers of this blog: determining when you have “enough” and getting on the same page as your spouse financially.
Finally, we close with another consistent theme for this blog: living a more adventurous lifestyle while pursuing financial independence. Dive into this month’s selections and then get out there and create your own summer adventures!
The ACA Survives
Julie Rovner writes Supreme Court Declines to Overturn ACA — Again.
There are many entrenched interests invested in the status quo. Mary Ellen McIntire explains, writing Industry cheers Supreme Court ruling on health care law.
Many people either love or hate the ACA based on their politics. I see validity in the arguments on both sides. As has been the tradition of this blog, I’ll try to avoid the politics and focus on figuring out what the law is and how we can best work within those constraints to manage risk without ruining our finances.
One of the best things we can do to navigate our imperfect system is to become an educated consumer of healthcare services. To those ends, this month I read, and highly recommend, Elisabeth Rosenthal’s An American Sickness.
Inflation Concerns are Inflating
Inflation is on a lot of people’s minds these days. This month I published Darrow’s thoughts on your personal rate of inflation and my comparison of I Bonds and TIPS as an inflation hedge.
Jonathan Clements and Peter Mallouk discuss whether concerns of rampant inflation are warranted in a rational and balanced way in Up, Up and Away.
One positive recent development is the inflation in sign up bonuses offered by credit cards. After dramatically scaling back these programs last year, credit card companies are once again in an all out competition for our business.
A few months ago I shared that I signed up for the best credit card for rewards, the Chase Sapphire Preferred® Card. At the time, it had the standard 60,000 point sign-up bonus and I was excited about that.
That bonus has recently increased to 100,000 points after you spend $4,000 on purchases in the first 3 months from account opening. This is the largest bonus ever offered on this card. It’s worth $1,000 in statement credits toward any spending on your card, $1,250 when you redeem through Chase Ultimate Rewards® for travel or for statement credits against existing purchases in select rotating categories, and potentially more if you transfer the rewards points to some of my favorite rewards points programs that include Southwest and United Airlines and Hyatt Hotels. This card has a $95 annual fee.
If you were contemplating getting a new rewards credit card, don’t hesitate on this offer! You can find full details here.
Do You Have Enough?
Something we all will need to determine as we pursue financial independence and a secure retirement is how much is enough?
Ben Carlson makes a compelling argument that If You’re Still Worried, You Aren’t Wealthy.
Fritz Gilbert writes 10 Steps to Make Sure You Have Enough Money to Retire.
Corey Fawcett shares how he assessed whether he had enough, both financially and from the perspective of purpose, before leaving his medical career. He writes How I Knew it was Time to Retire.
Marriage and Finances
One of the most common questions I get is how to get on the same page financially with a partner with different goals and values. There is no easy answer to that question.
Kim’s and my financial and life goals always aligned and took little effort… until they weren’t and we needed help. We had to work hard to understand our different perspectives and find common ground on what life should look like after achieving our financial goals.
This month an anonymous reader of the White Coat Investor blog transparently and vulnerably shared a much different (and likely more common) perspective on the twenty years (and counting) financial journey with their partner, writing Financial Security When Partner Isn’t on Same Path.
Living a More Adventurous Life
Different segments of our audience may find this next resource interesting for different reasons. Alyssa Ravasio spoke with Patrick O’Shaughnessy on the Founder’s Field Guide podcast about Supply, Demand and the Outdoors. Consumers of outdoor adventures will be interested in Hipcamp, the company Ravasio started to help travelers find campsites and unique accommodations to facilitate more time outside. Land investors will learn about the opportunity to use her Hipcamp platform to make money on your vacant land while helping others get outside and away from crowds.
I’ve been pursuing my own adventure as I’ve been on the road a good bit over the past month. While driving, I’ve been loving the podcast Climbing Gold to pass the time. This collaborative effort between Alex Honnold and Fitz Cahall explores the history of rock climbing in America by telling the stories of the people who made it happen.
Of particular relevance to this audience that are not specifically interested in climbing is this bonus episode profiling alpinist Steve Swenson. It is an inspiring look at someone living a balanced life. Swenson prioritized family and financial security while still managing to pull off amazing adventures in the world’s high places.
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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 firstname.lastname@example.org.]
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