086R | Pretirement | Roger Whitney

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086R Pretirement

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

Looking for the best credit card to start earning travel rewards points? The Chase Sapphire Preferred is our pick. With a 50,000 point signup bonus (after spending $4,000 in the first 3 months), the $95 annual fee waived the first year, and ultra-flexible points (transfers to 13 airlines & hotels!), this is our top choice!

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

Looking for the best credit card to start earning travel rewards points? The Chase Sapphire Preferred is our pick. With a 50,000 point signup bonus (after spending $4,000 in the first 3 months), the $95 annual fee waived the first year, and ultra-flexible points (transfers to 13 airlines & hotels!), this is our top choice!

A live-recorded conversation with Roger Whitney, the Retirement Answer Man, from Podcast Movement, questions for a potential accountant, and takeaways from Monday’s live case study with Allison Goddard.

What you'll hear in today's episode:

  • Brad is departing for a month-long family vacation to the U.K.
  • What is “global entry” and how/why did Brad get it before his trip?
  • Jonathan had a chance to meet up with Allison., from Episode 86.
  • If money was no longer an option, what would change for Brad and Jonathan?
    • Jonathan Tracks Down a Castle
  • Brad and Jonathan are super impressed with Allison’s grit and tenacity, to change the trajectory of her life.
  • Sometimes encouragement from someone else is the motivation we need.
  • You don’t have to know where your life is going to go, you just have to get started.
  • How can someone overcome “imposter syndrome”?
  • Voicemail from Angela at Tread Lightly/Retire Early – if Allison’s house is a place that makes her happy and brings her joy, maybe there are other ways that she can adjust her spending to be more efficient.
  • An article in the “Journal of Accountancy” addressing specific strategies for those pursuing financial independence: FIRE-d up for early retirement.
  • At what point is Turbo Tax not sufficient for your taxes?
  • What questions would Brad ask of a potential CPA?
  • Brad and Jonathan participated in Podcast Movement in Philadelphia, and participate in a ChooseFI meetup.
  • Brad is attending a ChooseFI meet up in London as well.
  • A live recording from Podcast Movement, with Roger, the Retirement Answer Man:
    • The tension between wanting to have a good life and wanting to enjoy today never really goes away.
    • Most baby-boomers don’t really want to never work again, but rather they want freedom in their time.
    • What are people running toward in retirement?
    • Instead of comparing retirement to a light switch, think of it more like a dimmer switch.
    • How does Roger talk to someone about making adjustments to move toward the life that you want?
    • Roger’s suggestion for have conversations: go for a walk, or a road trip, or something that creates space and time to have conversation.
    • Pretirement: what can you do now to start setting yourself up for what you want?
    • Strong relationships with your colleagues and superiors can give you the ability to adjust your job to meet your needs.
    • Five things to do with money: Give it away, spend it, pay down debt, save it, or invest it.

Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future Price: $14.62 Rock Retirement: A Simple Guide to Help You Take Control and be More Optimistic About the Future Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you.

Links:

U.S. Customs Global Entry

Building My Castle

Tread Lightly, Retire Early

Roger's Latest Youtube Video on why LTC Premium's are skyrocketing ( with Pictures from Podcast Movement 2018 )

 

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6 thoughts on “086R | Pretirement | Roger Whitney

  1. …but what was the deal with the civic?! was it a $50 part and she’s good to go for another few years?

    You very briefly mentioned some premium cards offer Global/Precheck as a credit. This would have been a great time to give the contrast between CSP and CSR. You’ve hinted at it before, but this would have been a great real-life example. Assuming CSR bonus goes back above CSP again in future, When you look at the difference in benefits, to me the CSR is a no-brainer. $450 AF- $300 travel credits (I purchased $300 SW gift cards to pay for my taxes and fees in the future) = $150 remaining fee. Global Entry is $100 (lasts 5 yrs). Priority Pass (which you didn’t mention today) is another $100. So at retail prices you’re already ahead by $50 without even earning extra points (which may have been worth it in and of itself). amazing.

    Priority Pass is not to be overlooked. Recently the expanded to include restaurants at many of the airports without a lounge – a $28 credit towards your meal. My local airport does not have a lounge – boohoo. So now, we come to the airport an hour early and have a free meal. When we get to our destination, we have dinner. They don’t care as long as you have a ticket for travel that day. I don’t see why you couldn’t use it a third time on layover. Then when we get home we order food to go. Since you get to bring a guest, you get to double the $28. Even at the restaurant airport $56 can go a long way!

    The other thing that you talked about was everyone in family having Global/Precheck. For domestic travel it seems that even if only one person has precheck, but he purchases the tickets (with cash or points) for the other travelers, it seems that the other members often get bumped up to precheck too. My point is, I wouldn’t hesitate to get it one-at-a-time. We’re going to go after Southwest Companion Pass in January for my wife at which time we’ll plan to get her hooked up with Global too.

  2. Great podcast, and also great information from James in the first comment. Good to know, that meal ticket is a sweet perk I didn’t know about.

    • a couple follow-up points

      -here is the list of lounges and participating restaurants where there is no actual priority lounge. https://www.prioritypass.com/en/airport-lounges#. I’m in St. Louis which seems to be a fabulous spot for Southwest+Priority. Doesn’t appear to be any love for Charleston on the list. The Priority Pass android app is just ok, but useful to find lounges in transit.

      And if you really want to go down the rabbit hole…
      -Chase Sapphire Reserve can also be downgraded “Product Change”[d] to Sapphire Preferred after 12th month (pay $95 Annual Fee instead of $450 and lose Priority Pass). Or if you really want to get crazy, you can spend another $300 to get a second round of travel credits and cancel during 13th month to get your 2nd year $450 AF back. You can wait 24 months after initial opening of the card, rinse, and repeat. In the meantime you can do one of the other non-Chase premier cards if those perks are of such interest to you.
      https://pointsyak.com/benefits/can-still-double-dip-sapphire-reserve-travel-credit/

      – One time I had extra headroom to my lunch bill and got a fancy adult cocktail (double) to go with me on the plane which I put in my tumbler I had brought. The waitress was even encouraging it. Interestingly, on the return flight home they (SouthWest) announced it is illegal to do such a thing. Just information… insert disclaimer here. Interestingly, I just looked it up and, per TSA in 2014, it appears you can bring it, but cannot drink it. “FAA regulations state that “No person may drink any alcoholic beverage aboard an aircraft unless the certificate holder operating the aircraft has served that beverage.”” https://www.tsa.gov/blog/2014/01/07/tsa-travel-tips-tuesday-traveling-alcoholic-beverages

      – @Jonathan it doesn’t appear the notify me of follow-up comments” button is working on the page. Maybe it only works to direct replies.?

  3. I really enjoy having the subject of the Monday podcast being one of a number of topics on the Friday podcast; it felt like some of the early Friday shows you did just reiterated the Monday show and didn’t add anything new. I liked this episode especially. I’ve already downloaded Rock Retirement from the library.

    I liked the “if you had all the money in the world” question too. I’ve always felt like I got points off for my answer to that question. When I first started reading about Simple Living/FI the answer was usually “I’d buy a homestead, live off the grid and grow my own food”. My answer was “I’d collect Faberge”! But that’s only if I were a billionaire–I’ll have a very happy Faberge-less FIRE. 😉

  4. a couple follow-up points

    -here is the list of lounges and participating restaurants where there is no actual priority lounge. https://www.prioritypass.com/en/airport-lounges#. I’m in St. Louis which seems to be a fabulous spot for Southwest+Priority. Doesn’t appear to be any love for Charleston on the list. The Priority Pass android app is just ok, but useful to find lounges in transit.

    And if you really want to go down the rabbit hole…
    -Chase Sapphire Reserve can also be downgraded “Product Change”[d] to Sapphire Preferred after 12th month (pay $95 Annual Fee instead of $450 and lose Priority Pass). Or if you really want to get crazy, you can spend another $300 to get a second round of travel credits and cancel during 13th month to get your 2nd year $450 AF back. You can wait 24 months after initial opening of the card, rinse, and repeat. In the meantime you can do one of the other non-Chase premier cards if those perks are of such interest to you.
    https://pointsyak.com/benefits/can-still-double-dip-sapphire-reserve-travel-credit/

    – One time I had extra headroom to my lunch bill and got a fancy adult cocktail (double) to go with me on the plane which I put in my tumbler I had brought. The waitress was even encouraging it. Interestingly, on the return flight home they (SouthWest) announced it is illegal to do such a thing. Just information… insert disclaimer here. Interestingly, I just looked it up and, per TSA in 2014, it appears you can bring it, but cannot drink it. “FAA regulations state that “No person may drink any alcoholic beverage aboard an aircraft unless the certificate holder operating the aircraft has served that beverage.”” https://www.tsa.gov/blog/2014/01/07/tsa-travel-tips-tuesday-traveling-alcoholic-beverages

    -it doesn’t look like the “notify me of followup comments via e-mail” radio button is working.

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