#246: Today we explore contrarian takes on budgeting, the 4% rule, retirement planning, and the risks of blindly investing in bonds. We also cover strategies for investing, spending, and rethinking how to use money with purpose.

<a href="https://www.instagram.com/socialcapofficial/">Tyler Gardner</a> is a personal finance creator, educator, and former portfolio manager who’s built a following by challenging conventional money wisdom. He's also the host of <a href="https://www.youtube.com/playlist?list=PLAPiq4V71Nm6jAgYGVvFO8muNAo1d5Y8P">Your Money Guide on the Side</a>.

Link to Full Show Notes: <a href="https://chrishutchins.com/rethinking-personal-finance-tyler-gardner">https://chrishutchins.com/rethinking-personal-finance-tyler-gardner</a>

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Resources Mentioned
Tyler: <a href="https://podcasts.apple.com/us/podcast/your-money-guide-on-the-side/id1799219049">Podcast</a> | <a href="https://www.instagram.com/socialcapofficial/">Instagram</a> | <a href="https://www.tiktok.com/@socialcap">TikTok</a>
<ul>
 <li><a href="https://www.youtube.com/watch?v=HYRmz6_mQWQ">Should I Invest in Bonds?</a></li>
</ul>
Bill Perkins: <a href="https://amzn.to/3VPPsnG">Die With Zero: Getting All You Can from Your Money and Your Life</a>
ATH Podcast
<ul>
 <li>Ep #91: <a href="https://www.chrishutchins.com/die-with-zero-bill-perkins/">Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins</a>
</li>
 <li>Leave a review: <a href="https://podcasts.apple.com/us/podcast/all-the-hacks/id1560751222?mt=2&ls=1">Apple Podcasts</a> | <a href="https://open.spotify.com/show/3v8pyFFppVuIL5SvNOa1om">Spotify</a>
</li>
 <li>Email for questions, hacks, deals, and feedback: <a href="mailto:podcast@chrishutchins.com">podcast@chrishutchins.com</a>
</li>
</ul>

Full Show Notes
(00:00) Introduction
(00:54) The True Purpose of Wealth
(04:18) Do We Really Need an Emergency Fund?
(07:22) Where to Keep Your Money During Uncertainty
(14:45) Quick History Behind the 4% Rule
(18:18) Modifying the 4% Rule for Retirement
(22:30) The Flaws of the 4% Rule
(25:51) How People in Iceland Approach Careers
(27:11) Why You Should Learn to Occupy Time with Your Passion
(31:48) Pursuing a Portfolio Career
(35:20) The Importance of Having "Financial Neighbors"
(38:55) Tyler's One Piece of Advice to Everyone
(42:29) The Problem of Inheriting Money Scripts
(45:35) Ways to Overcome Frugality
(49:57) Tyler's View on Budgeting
(54:28) How to Think About Taking Risks
(57:38) Monte Carlo Scenarios
(01:02:26) The Coast FIRE Movement
(01:04:41) Why Tyler Doesn't Like Bonds
(01:06:54) The Core-Satellite Approach for Investing
(01:12:38) Important Investing Lessons
(01:13:56) Where to Find Tyler

Connect with Chris
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