Buy This, Not That – Sam Dogen Retirement Wisdom 26:55

Saving and investing for Retirement takes discipline and sacrifice. But Sam Dogen, creator of the Financial Samurai website, points out that you also need to spend money to make money. He’s taught over 90 million readers how to invest wisely, not just financially, but in all facets of life. He joins us to discuss his Wall Street Journal bestseller, Buy This, Not That, and his lessons from more than a decade into a very early Retirement.

San Dogen joins us from San Francisco.

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Bio

Sam Dogen is the author of Buy This, Not That: How to Spend Your Way to Wealth & Freedom and the mastermind behind FinancialSamurai.com, one of the largest independently-run personal finance sites with roughly one million organic visitors a month. He launched Financial Samurai in 2009 when the world was falling apart and his net worth was taking a beating. His inspiration was to help himself and others make sense of the chaos. As a finance veteran since 1999, Dogen writes from firsthand experience to provide the most helpful insights possible. He spent 13 years working at Goldman Sachs and Credit Suisse, holds a BA in Economics from The College of William & Mary, and an MBA from UC Berkeley. In 2012, he left his day job in finance at age 34 to be permanently free and pursue being a writer. He has lived in seven countries and has traveled to over 60 countries so far.

Dogen’s writing delves deeper into investing, real estate, Retirement planning, career strategies, and more, so we can all achieve financial independence sooner, rather than later. Financial Samurai is also proud to be one of the pioneers of the modern-day FIRE movement. Since the financial crisis, more than 80 million visitors have stopped by FinancialSamurai.com to learn, share, and grow. In addition, Dogen’s work has been highlighted in major publications such as CNBC, MarketWatch, Forbes, The Consumerist, The Chicago Tribune, The Los Angeles Times, and many more.

Dogen is also known for The Financial Samurai Podcast and the one-of-a-kind eBook, How To Engineer Your Layoff, which teaches employees how to negotiate a severance package and be free. When not writing or podcasting, Sam can often be found on the playground taking care of his two young children or on the softball field or tennis court.

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For More on Sam Dogen

Buy This, Not That: How to Spend Your Way to Wealth & Freedom

Financial Samurai website

Weekly Newsletter

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Wise Quotes

On Purpose and Meaning in Retirement

“It’s definitely a learning process because you don’t know how you will feel in Retirement until you get there, until you no longer have that steady paycheck. And so for the first year, I thought ‘Ok, I want to play a lot of tennis golf and travel the world.’ So, that’s what I did. I went to 20 countries. [I] saw nine Gothic churches. But after about the fifth church, they all started looking the same. And after about eight months, I started getting really bored of this early Retirement lifestyle.

So in my mind I stopped saying I’m an early retiree. I just said I’m a writer, because I wanted to spend time writing on Financial Samurai which was, and still is, my passion hobby, the thing that I love to do every single day. And I found that the ideal amount of work – purposeful work – to do is about 20 hours a week. Now if you think about it, before in the olden days, when we had to go to the office for work, maybe let’s say we’re there for 9 hours. We would spend maybe three or four hours doing, at least for me, deep work and then three or four hours of so-so work, and then one to two hours of lunch – and then just water cooler and chitchat. And so, I felt that if I could do deep work before my family woke up it would provide me enough meaning and purpose. And then after that, I could spend time playing tennis, softball and spend time with family. And so that is what I learned over the years: that you have to find a really meaningful thing to do post your day job, because that journey is what is most rewarding. Having a goal and working towards it every single day, seeing progress in whatever you’re doing. That is what brings so much purpose after Retirement.”

On Fear

“The fear in your head is often worse than reality. If I could rewind time twenty-five years, I would say Sam, invite more people out to drinks, lunch and dinner. Ask that person. You just never know what might happen. The fear in your head is greater than the reality, because at the end of the day, you can just start over and try again if you fail. But just keep on failing because eventually you’re going to find your success.”

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Podcast Episodes You May Like

How to Retire Early and Live Your Life Fully – Leif Dahleen

You Can Learn a Lot from the Principles of FIRE – Chris Mamula

What Are The Keys To A Successful Retirement? Fritz Gilbert

Retirement Stepping Stones – Tony Hixon

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About Retirement Wisdom

Planning for Retirement goes well beyond your 401k or IRA. How will you invest your time after your full-time working years?

You’ll need another portfolio.

I help people create an active multipurpose Retirement, with the right mix of interests, activities and pursuits to invest your time wisely. And for many, like me, it includes a new version of work – redefined on your own terms.

Schedule a call to see if a 1-on-1 Coaching program or a small group Designing Your New Life program can give you an edge in your next chapter.

Visit retirementwisdom.com for tools and resources to help you retire smarter.

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About Your Host

Joe Casey is an executive coach who also helps people design their next life after their primary career. He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking.

If you’re thinking about Retirement, you’ll also need to be planning for longevity. That’s why Joe returned to school, earning a Masters in Gerontology from the University of Southern California. Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1.5 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference.

Joe is the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

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Intro and Outro voiceovers by Ross Huguet.

Joe Casey Retirement Coach, Podcaster

Joe Casey is an Executive Coach and Retirement Coach who brings extensive experience navigating transitions from his coaching work with clients and from his own life and career. After a 26-year career in Human Resources with Merrill Lynch, Joe shifted gears and retired early at age 52 to become an executive coach. His executive coaching practice has been named as one of the Top 10 Leadership Development Consulting Companies for 2019 by HR Tech Outlook magazine. He now also works to help people design their lives following their corporate careers, helping them pursue second act careers or to successfully navigate their transition to retirement.