Good morning!

Today's email includes:

--a podcast episode and checklist about FIRE / early retirement

--great articles about bad ETFs, getting unstuck, and the unholy bond between alternative investments and the insurance industry

FIRE and Early Retirement Misconceptions

In this podcast episode, we tackle some great listener questions about FIRE and early retirement, including:

-- focusing narrowly on dividends, interest, or other forms of "income generation" can lead retirees toward mathematically suboptimal decisions

-- the challenge of retiring before Social Security, when portfolio withdrawal rates may temporarily reach 5% or 6% or more

-- how much cash an early retiree should hold & the trade-off between protecting against sequence-of-returns risk and sacrificing long-term returns

-- ...and an early-retirement checklist covering ways to access money before traditional retirement age.

Listen to Episode 152

"The Early Retirement Checklist"

...speaking of Episode 152

I took the checklist from Episode 152 and put it in written form.

It discusses the many different ways that early retirees access their money without triggering undue taxes or penalties.

Read the Checklist

The Top 3...

I enjoyed this content recently. I hope you do too.

Wacky ETFs. Not Good ETFs, Though

Jason Zweig hits another home run.

"I used to joke that 95% of investing success consists of knowing what not to do. It’s rapidly approaching 99%, and it’s no longer a joke.

...

In their latest incarnations, ETFs often offer exposure to narrow, risky assets, high tax bills and bloated fees. Many ETFs have become publicly traded gambling chips. Your job as an investor is to resist temptation and to sort through these new offerings without mercy."