We have had lots of listeners ask us about how we handle our finances with our spouses. So in this episode, the guys discuss how they manage their finances and keep money from getting in the way of their relationships. Here in the FI Garage, we’re all on the path to FI, however, we consider the RE part optional. #FIRE
We apologize for the audio on this one, the Mechanic was off fixing helicopters so he was forced to use his satellite internet.
Beers – [1:00]
- Haze Junction Pale Ale from Winterlong Brewing [1:10]
- Rainier Beer [2:01]
- 1516 Lager by Okanagan Springs Brewery [2:50]
Spousal Finances [5:15]
- Credit Card Roulette [9:30]
- Tontines: It’s sleazy, it’s totally illegal, and yet it could become the future of retirement via the Washington Post [12:38]
- Tax on jointly held accounts via MoneySense [20:00]
- GoPeer [30:04]
Enjoying the FI Garage podcast? Support our show by using our referral links or buying us a BEER from our new Cheers page!
Fun fact: after a full episode talking about spousal finances, the thing that is sticking with me most is the Economist excitedly repeating “Tontines!”.
Not sure how many beverages The Economist had enjoyed before this episode. He was more boisterous than usual.
my wife and I thought that the same thing, economist was definitely boisterous… that said she’s onboard with the FI plan, as part of that plan I’m switching to public mobile. As you three have been a big influence (acknowledging the show is for entertainment purposes only) I’m wondering if any of you haven’t maxed out your referrals for public mobile yet and if you haven’t if you’d share your code to get your bill to zero.
Hey Matthew, Having the spouse on board is a huge part of a successful FI journey. Good decision to switch to Public mobile, and thanks so much for thinking of us on the show. We haven’t maxed out our referrals yet. I’ll email you a code. Cheers!
Kudos to The Accountant for finding a great article on Tontines to include in the show notes. Well worth the read.
Tontines do get me excited:) Thank you for thinking about us regarding Public Mobile, we appreciate the support! For anyone else looking into this our referral codes can also be found on this page: https://figarage.ca/support-the-fi-garage-with-a-cheers/
Did you guys ever re-visit the gopeer investing option? It’s been a while, thought perhaps one of you might have decided to take the plunge on this and report back how they made out?
None of us ever ended up testing out the GoPeer option. It seemed to us that it’s mostly D-F borrowers. There was not a lot of info provided on why the loans were needed and there was little to no collateral. The risk reward equation on it just did not seem to make sense when you can get the same rates by private lending on second mortgages where you are secured by the physical property.