Happiness, Tipping Culture, Changing Careers - Chris & JT | MHFI 256

Doug chats with friends Chris & JT from a partially-disclosed location in Breckenridge about a potpourri of topics.  The trio discusses happiness, dives into the controversial & confusing topic of tipping (with input from listener Kris), and provides their thoughts on high net-worth individuals (based on a correction pointed out by listener Bill). The group also analyzes Amber’s ambition of reaching FI by age 40-45 (full details below). Be sure to check out Chris’s music… His first single releases in March: http://chrisrusin.com/ Details of Amber’s Case Study: Midterm goal is to reach “Flamingo FI” ($625k) and then find a job to keep active and covers expenses until investments grow into full FI number ($1.25M).  Ultimate goal is to reach FI by age 40-45 and continue living a similar lifestyle, but not retire completely.  Will be turning 27 in less than 2 months. Owns a home and house hacks (with parents as renters).  Planning for herself at the moment but hoping to get married in the future at which point she would kick parents out of the house! “Goldilocks” budget is about $50K/year and includes the monthly mortgage payment as part of the expenses, with no plan to pay off the house early. Current financial numbers: Salary – $80k 401k – At least get the match, but have maxed out for the past 2 years and plan to continue Roth IRA – Always Max Out HSA – Always Max Out This episode is brought to you by GhostBed.  Doug has the GhostBed Luxe Mattress and loves it!  Take the 3 minute sleep quiz to see which mattress is right for you.  Save 50% site-wide on your new mattress, bed frame, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI) Save With Mint Mobile! (https://milehighfi.com/mint) New customers can get 3 months of unlimited premium wireless for $15/mo.  Doug’s phone bill went from $1440/yr to $360/yr for him and his wife.  It’s super easy to switch and you can use your existing phone.  If you use the MHFI link, it won’t cost you extra and it helps support the show. Looking for help with your estate plan?  Trust & Will provides online tools for creating, you guessed it… trusts and wills.  For those who don’t have any estate planning documents in place, this could be a good option to get started.  We’re affiliates so we can earn a commission if you sign up.  Thanks for the support. https://milehighfi.com/trustandwill Need a fee only advisor?  Nectarine is a network of financial advisors where you just pay for investing & planning advice.  Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up.  Thanks for the support. https://milehighfi.com/nectarine Help Doug afford one of those delicious Popeye’s chicken sandwiches by providing support at Buy Me A Coffee. Links (*Some affiliate links so we might earn a commission if you buy something) Connect with Chris Chris’s Music Life Outside The Maze Carl Jensen