May 2023 – Two Sides of FI

Questioning their roles, priorities, and the uncertain future of Two Sides of FI, Jason and Eric unveil hidden tensions arising from the pursuit and realization of financial independence. Will they find common ground and keep the project alive?

Show notes may be found below the video

Show Notes

Essential Background:

Eric and Jason have been friends for a long time – nearly 37 years as this episode was recorded. For more background on their upbringing, their relationship, and their FI paths, you’ll definitely want to watch these two early episodes: Our Financial Past and Our FIRE Present and Two Careers, Two Paths to Financial Independence.
To date we haven’t talked much “inside baseball” about how the show comes together. One exception is this outtake footage which we released two years ago: How Do We Feel About Making Two Sides of FI? Find out how much (or little) has changed since this video!
Lastly, we think our two-part series where we discuss our FIRE paths with our spouses is essential content: Part 1 and Part 2.

In this episode we talked about the new Two Sides of FI Discord server. If you’re not familiar, this is an instant messaging social network. Ours is meant to be a community for viewers of our show, as well as a space to discuss all things relation to FIRE. It’s totally open, free of charge, and is anonymous as you’d like. This makes it a safe space to talk about financial topics you might otherwise be sensitive about sharing. Come check it out and see if it fits your interests! There are both desktop and mobile apps available.

Did you know Jason resumed blogging? One recent post came after filming this episode. For more on this thoughts about this conversation and related topics, don’t miss The Flipside of Time Freedom. To be notified of future posts, please consider subscribing here.

You can find information on the tools we mention in each episode along with additional information in the Resources section of this site.

Do you have a process for regular financial reviews? If not, you aren’t alone – many people are unsure about how to calculate their net worth and keep their personal finances on track. In this episode, Eric and Jason share their simple pre- and post-FI review processes for net worth tracking, portfolio review, setting savings and budget goals, and more. Check the show notes for all the details.

Show notes may be found below the video

Show Notes

Essential Background:

Did you know we previously released a free downloadable rebalancing calculator that’s both powerful and easy to use? In this video, we walk through the features of the tool, demonstrate several examples of how to use it, and describe how you can download your own free copy.
Asset allocation is a topic that has come up often on Two Sides of FI – and our portfolios have indeed changed over time. For more on our history there, don’t miss our two-part series from 2021. The show notes for “Getting Your FIRE Asset Allocation Right. Here’s Ours (Part 1)” are a great collection of resources on this topic; and here’s Part 2: “Comparing our FIRE Portfolios + Asset Allocations”
For more on asset allocation decisions, don’t miss how Eric decided to move from a 100% stock allocation and added bonds to his portfolio. We have a two-part series: “I Rebalanced My FI/RE Portfolio and I Hate It!” (Part 1) and “Buying Bonds. Still Not Convinced I’m Doing the Right Thing!” (Part 2). As you’ll note, this decision was made prior to the market downturn in 2022. As a bonus, check out the conversation with Eric + his wife Laura, “FI-nancial Decisions – Transitioning to FI with Laura + Eric”, for a behind the scenes look at how they decided on their revised asset allocation.

In this episode, Eric mentioned Empower (formerly Personal Capital) for summarizing his portfolio performance as a part of rebalancing. We both use and really like this free tool for tracking investment accounts, understanding asset allocation + rebalancing opportunities, and monitoring net worth. Empower employs a simple account linking process to make it a more automated experience. Give it a try risk-free! (affiliate link; free program )

In this episode, Jason mentioned that he uses the software called YNAB to budget. What is YNAB? You Need a Budget is a popular budgeting tool for many in the FIRE community. If manual spreadsheets aren’t your thing or you’ve struggled with budgeting in the past, this may be a good solution. YNAB has a generous, free 34-day trial so you can see how well it works to help you understand and control spending. (affiliate link; no credit card needed for trial )

Are you interested in tracking net worth, income, FIRE progress, and your budget all in one convenient tool? This popular Reddit post by Redditor u/BloomingFinances outlines a free and powerful way that you can do just that.

You can find information on the tools we mention in each episode along with additional information in the Resources section of this site.

Month: May 2023

FI-ght Club: Friction Between Friends Pre and Post-FI

Our Net Worth Is Up! Sharing Our Financial Review Process