099R | Market Fluctuations | Stick to Your Plan

  • Jonathan recaps his recent family vacation and travel to FI Chautauqua Greece.
  • Chautauqua was most importantly about community.
  • Jonathan saved nearly $1,200 on a bill for his son’s broken leg just by asking for an adjusted cash-pay price.
  • The Playing with FIRE Kickstarter event far surpassed expectations.
    • More than 1,000 supports
    • More than $100k
  • Review from Monday’s episode with Michael Peterson.
  • Michael continues to work because he wants to be able to give.
  • Geoarbitrage might not always be what we think; moving to ‘less expensive’ countries also usually involves a big lifestyle change.
  • Considering oneself to be a steward of resources, not just an accumulator of money, puts members of the FI community in a unique position to be generous and consider their impact on world.
  • Voicemail from Brian Feroldi from Motley Fool: stock market is down about 10%, but no need to panic, as drops in the market are normal and bound to recover in the long term.
  • Buying stock when it’s down is like buying stock that’s on sale.
  • Voicemail from Chris who tries to support 2nd and 3rd generation FI by supporting childhood entrepreneurship.
  • Hansi asks the community for help brainstorming 31 free/inexpensive things for couples to do in the fall.
    • Drive to look at fall foliage
    • Toast pumpkin seeds
    • Backyard fire pit
  • Josh, a dentist in Oregon, opted to go to dental school in Oklahoma for half the cost of a school in Boston, and then chose to work in a rural group practice to significantly increase his income.
    • Using money he put into his 401k, he purchased a practice in Bend, OR and improved his lifestyle.
    • Expects to pay more than $1.2 million of loans in the next 5 years.
  • In the medical industry, working in more remote locations tends to increase income.
  • Voicemail from Matthew who is a military dentist – military pays for the cost of dental school, plus a stipend, in exchange for a few years of service to the military, and a guaranteed job.
 

Links mentioned in this episode:

FI Chautauqua usafdds.blogspot.com
Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.
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