This week’s The Distillery is an interesting read from one of my favorite “do-it-yourselfers,” Chris Mamula of Can I Retire Yet? I always enjoy reading Chris’ posts because he writes clearly and provides a non-professional viewpoint of what competent financial planning can look like from someone who doesn’t mind spending a lot of their free time and energy researching and effectively implementing their own personal financial plan. This blog in particular though, made me think even deeper about the true value of our service as financial advisors. Chris, a staunch “do-it-yourselfer,” was able to retire early. However, he admits that it took him at least a decade, and thousands of dollars in missed opportunities and mistakes, to optimize the nuances surrounding the areas of savings strategies, asset allocation, and tax planning. In my opinion, it took Chris a decade of hard work and research to become versed in the six areas of financial planning, without the title of Financial Planner. A few questions I would love to ask him (just emailed him) are: What would you change if you were to do it all over again?” Would you hire a Financial Advisor? Would you trade in the hours of financial planning research for other activities? Perhaps his answer is, “Nothing.” Or perhaps it’s something more insightful that I’ll be able to relay back to the group next week.
In the meantime, happy reading!
In an era of two income households struggling to make ends meet, my story sounds extreme. I retired from my career as a physical therapist at the age of 41 while my wife cut back to part-time work five years earlier at age 35. Some might think we spent a lot of time thinking about money. That assumption would be wrong. We achieved financial independence by our early 40’s because... Read More >