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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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S3 E2: Discovering FI (financial independence) can be thrilling and it’s tempting to quickly make changes to your finances and investments. This episode cautions you to proceed slowly to ensure you fully understand the financial ramifications of your actions. Because you don’t want to win the battle, but lose the war.
“Small things” like transaction fees, taxes, and placing trades are easily misunderstood or overlooked, thereby altering the timeline to reach FI. Another common failure discussed is not reinvesting dividends and capital gain distributions.
Jeff Harrell explains how such oversights are easy to fix if identified early. But if they go unnoticed, they could slow your FI journey significantly. Remember, a bit of knowledge goes a long way.
(Season 3 Episode 2)
Resources Mentioned in Episode:
- Mad FIentist article, “HSAs – The Ultimate Retirement Account”
- Morningstar article, “Key Rules for a Backdoor Roth IRA Contribution”
Other Episode Referenced:
Podcast produced by Ted Cragg of QuickEditPodcasts.com
Music Credit: Dream Cave / Adventure Awaits / courtesy of www.epidemicsound.com
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