In this episode Mark introduces the concept of the 'Fun Bucket' as a tool to facilitate guilt-free spending to overcome the psychological challenges of shifting from a saver mindset after reaching Financial Independence.

Additionally, he discusses the utility of Donor-Advised Funds for charitable giving, explaining how they can maximize tax benefits and make charitable contributions easier and more fulfilling. He compares the features of donor-advised funds from Fidelity, Charles Schwab, and Vanguard, highlighting considerations for choosing the right fund.

If you would like your question answered on the show, please send an email to Mark@MarksMoneyMind.com and put “podcast question” in the subject line.

Episode Links:

Early Retirement Now - Safe Withdrawal Rate Series

Mindy on Money podcast

Die with Zero by Bill Perkins

The Fun Bucket - Overcoming the Frugality Mindset

Fidelity Charitable

Schwab Charitable

Vanguard Charitable

Bigger Pockets Money - FIRE by 50

Timestamps:

• 00:27 Overcoming Frugality After Financial Independence
• 01:40 The Concept of the Fun Bucket
• 05:41 Implementing the Fun Bucket
• 08:11 Experiences and Benefits of the Fun Bucket
• 16:50 Introduction to Donor Advised Funds
• 20:11 Setting Up a Donor Advised Fund
• 26:14 Tax Benefits and Strategies for Donor Advised Funds
• 39:06 Conclusion and Final Thoughts

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In this episode Mark addresses questions from listeners in a special ‘Monthly Mailbag' show.

He explores Ryan’s suggestion of renaming the middle phase of financial freedom the ‘Mindful Middle.’ Mark also tackles listener questions regarding receiving a lump sum pension or annuity, helping parents with retirement planning, how to use a brokerage account and his favorite retirement planning podcasts.

If you would like your question answered on the show, please send an email to Mark@MarksMoneyMind.com and put “podcast question” in the subject line.

Episode Links:

Phases of Financial Freedom | Episode 015

EverydayFI Podcast - Episode 6 - Ryan B: The Middle Path of FI

Exploring Financial Freedom at CampFI Mid-Atlantic | Episode 014

Yellow Bridge: Nusa Lembongan to Nusa Ceningan

Immediate Annuities website calculator

Open Social Security website calculator

Retirement Podcasts:

The Retirement and IRA Show

Retirement Planning Education

The Retirement Answer Man

Retirement Starts Today Radio

Your Money, Your Wealth

Timestamps:

• 00:29 Introducing Mark's Money Mind Monthly Mailbag
• 00:46 Listener Feedback: The Mindful Middle
• 08:56 Jyothi Asks About a Pension: Lump Sum or Annuity
• 18:55 Brad’s Parental Retirement Scenario
• 34:47 Leslie Suggests an Episode on Brokerage Accounts
• 44:00 A Listener Asks for My Favorite Retirement Podcasts

In this episode Mark discusses a strategy for automating your finances. Using his personal experience, he explains how setting up systems for automatic deposits, payments, and savings can help achieve financial goals and provide for a stress-free financial future.

He delves into the specifics of using a core cash management account and provides a step-by-step automatic cash flow process for both working individuals and retirees. Mark emphasizes the importance of monitoring financial transactions and maintaining a buffer.

If you would like your question answered on the show, please send an email to Mark@MarksMoneyMind.com and put “podcast question” in the subject line.

Episode Links:

Watch this Episode on the YouTube channel

Cash Flow Automation Flowchart - Working

Cash Flow Automation Flowchart - Retired

Fidelity Cash Management Account vs. Schwab Investor Checking

Timestamps:

• 00:27 Automating Your Finances: A Deep Dive
• 01:50 Choosing the Right Cash Management Account
• 02:38 Schwab vs. Fidelity: A Comparison
• 06:39 Setting Up Your Paycheck and Savings
• 13:58 Automating Bill Payments and Credit Cards
• 18:19 Managing Finances in Retirement
• 22:33 Tax Withholding Strategies
• 23:46 Roth Conversions and Tax Planning
• 26:09 Managing Estimated Taxes and Bill Payments
• 35:48 Automating Cashflow in Retirement
• 38:25 Final Thoughts and Recommendations