Day Two CampFI

Returning to you again form Marine St Croix, Minnesota.  Please see yesterday’s post for a wrap up of day one.  Day Two of CampFI started with a jog with some of my favorite bloggers, new friends, and a couple incredible kids.  Although the crew made it a full 10K, I decided to bow out after lap one.  5K was enough for me, thank you.  Day two was a nice smattering of knowledge exchange and relationship building.  Three excellent lectures were broken up by a breakout session, an impromptu panel discussion, and plenty of time to walk, play a game of pick up basketball, or enjoy the lake.

Kids On FIRE

Physician on Fire started the day off by teaching us a little about Minnesota and how the natives speak.  With a few catchy phrases and some elongation of the o, we might just be mistaken for natives.  Although he had us rolling in the aisles with laughter, he managed to present some stunning data and insight into reaching FIRE with kids.

Kids cost money!  And just like investment gains, these lost opportunity costs compound over time.  Your two children might run you an extra $300k-$500K in the long run.  But all you have to do is look at PoF’s lovely wife and awesome kids to know that it is well worth it.  The whole family showed up to CampFI day two and each got a chance to speak up during his lecture.

It’s all about relationships.

This Is How He Real Estates

I have talked in the past about my exploits in real estate.  Coach Carson gave the second lecture of the day and provided a masterclass on the subject of how to use real estate to get more of want you want out of life.  Coach, teacher, and all around good guy, Chad talked us novices through the different paths to launch one’s journey into this revered asset class.

I could see the clouds clear in people’s minds as he demonstrated the differences between different house hacks.  It seems the greatest bar to entry is lack of knowledge.  His talk was full of before and after pictures and we even got a glimpse into his 17 month stay in Ecuador.

#Minimalism (Said With Tongue in Cheek)

Lastly, Cait Flanders educated us on our nearest neighbor to the north, Canada.  Just as she was describing a distance in kilometers instead of mile,  a pair of bald eagles dove and swooped outside of our window.  Her talk was a witty walk through her relationship with work and money.

She definitely pointed to some of the more outrageous symbolism and beliefs about #Minimalism.  Her book, A Year of Less, has been named a Wall Street Journal best seller.

Final Thoughts

Day Two CampFI was filled with knowledge and lectures.  But some of the best time occurred in-between during break out sessions and in a panel discussion directed by the incredible Tanja (She is even more cool in person).  This was the time where fellow attendees got a chance to really interact not only with lecturers and experts, but with each other.

What has become very clear to me is that success in financial independence and life probably centers less on knowledge and more on relationships.  Don’t get me wrong, the knowledge is important, but it is the strength and support we glean from others that often paves the path to success.

I’m looking forward to more great lectures and conversations on day three.