Podcasts by Category
How would your life change if you reached Financial Independence and got to the point where working is optional? What actions can you take today to make that not just possible but probable. Jonathan & Brad explore the tactics that the FI community uses to reclaim decades of their lives. They discuss reducing expenses, crushing debt, tax optimization, building passive income streams through online businesses and real estate and how to travel the world for free. Every episode is packed with actionable tips and no topic is too big or small as long as it speeds up the process of reaching financial independence.
- 648 - 487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP
In this episode: survivor benefit plans, VA benefits, VSO's disability benefits, tax planning, healthcare, and blended retirement systems.
This week we are joined by Daniel Kopp, founder of Wise Stewardship Financial Planning, to outline ways you can best prepare for military retirement. Together we cover pensions, navigating the Survivor Benefit Plan and additional benefits, healthcare and disability resources, as well as other financial decisions you can consider as you begin to transition out of the military. When dealing with any kind of retirement planning, taking actionable steps to prepare and get a plan in place for you and your family is essential. While everyone's circumstances may be different as they transition out of the military, there are many resources available and benefit programs you are entitled to before and after you leave duty!
Daniel Kopp, CFP
Website: wisestewardshipfp.com Podcast: Military to Financial Planner Timestamps: 1:26 – Introduction 2:32 – Approaching Military Retirement/Blended Retirement System 9:38 – Military Benefits/Healthcare 15:36 – VA Benefits/Term Life Insurance 22:12 – Disability Benefits/VSO’s 30:17 – Survivor Benefit Plans 43:13 – SBP Contingencies and Child Coverage 50:41 – Tax Planning 56:26 – Conclusion Resources Mentioned In Today’s Episode: Blended Retirement VA education benefits for survivors and dependents Everything About The Military’s Survivor Benefit Plan SBP Financial Analysis Tools Daniel Kopp Estate Planning for Military Families | Military Money Manual Podcast Episode 83 Accredited VSO Representatives Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 “Military in Transition’s Guide to The Survivor Benefit Plan: Navigating the SBP” by Forrest Baumhover How VA Disability Compensation Affects Military Retirement Pay Income Tax and Rental Properties When You’re in the Military MFAA ChooseFI US Military Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint MobileMon, 15 Apr 2024 - 59min - 647 - 486 | The Wealthy Educator | Chris Travers
In this episode: public service accounts, side hustles, making FI possible, frugality, giving yourself freedom, and side hustles.
This week we are joined by Chris Travers, a New York City public school teacher and FI community member, to discuss his journey from being a natural saver to becoming a savvy investor, talk advantages and disadvantages of some of the retirement accounts provided to teachers, as well as discuss some ways he has been able to grow his net worth in the last 10 years. Frugality is a term that often comes up while on the FI path, and finding a balance of saving and spending is crucial to reaching your financial goals. Remember that where you decide to save and spend and how you do so will evolve throughout your FI journey! While it can be hard to cut costs of the things you enjoy in the present, being willing to cut out what you don’t need can set you up for success in the future!
Chris Travers: Book: “TL;DR: Financial Literacy for New York City Public School Teachers: Optimizing Financial Decisions Based On Your TRSNYC Benefits” by Christopher Tavers and Karl Fisch Instagram: @thewealthyeducator Timestamps: 0:54 – Introduction 6:47 – Public Service Accounts 11:38 – Diving Into FI 15:08 – Side Hustles/Making FI Possible 22:17 – Renting vs Buying 26:43 – Frugality and Loosening the Purse Strings 32:25 – Giving Yourself Freedom 37:53 – Conclusion Resources Mentioned In Today’s Episode: Join ChooseFI’s Facebook Group! “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J. Stanley and William D. Danko “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki “Smart Couples Finish Rich, Revised and Updated: 9 Steps to Creating a Rich Future for You and Your Partner” by David Bach The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep 13 The Happy Body Millennial Revolution Karl Fisch Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint MobileMon, 08 Apr 2024 - 40min - 646 - 485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael Camp
In this episode: spending down to zero, the ratcheting rule, the guardrails approach, high fee 401k's, and mini-retirements.
This week we are diving back into the listener mailbag with Rachael Camp to address the pressing questions our community has! Whether it's curiosity towards the concept of dying with zero, determining whether it is a good time to take a mini-retirement, or working with high-fee 401k's, Brad and Rachael tackle it all! Listen along as YOU the community dictate the conversation with your hot button FI questions!
Rachael Camp:
Website: www.rachaelcampwealth.com Twitter: @camp_wealthPlease note:
Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
Timestamps: 0:55 – Introduction 1:38 – Spending Down to Zero 10:15 – The Ratcheting Rule and The Guard Rails Approach 20:38 – Flexible Spending Strategy 27:01 – Does Everything Need to be Optimized? 31:15 – High Fee 401k’s 41:48 – Mini Retirement Considerations 49:54 – Roth IRA Contributions and Faze Out Limits 55:57 – Conclusion Resources Mentioned In Today’s Episode: “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts” by Annie Duke The Ratcheting Safe Withdrawal Rate – A More Dominant Version Of The 4% Rule? The guardrails approach is a flexible retirement withdrawal strategy: Here’s how it works Early Retirement Now The Problem with the 4% Rule (and Why You Could Retire Even Sooner) The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire Often Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint MobileMon, 01 Apr 2024 - 57min - 645 - 484 | A Family Journey From Debt to Early Retirement in a Decade | Joel and Emily Allen
In this episode: wants vs needs, side hustles, tax planning, college hacking, travel rewards, mindset, and living your values.
This week we are joined by Joel and Emily Allen, a married couple with children based out of Iowa who truly embody what the FI movement is all about! Not only have they seized control of their life and finances, but have also managed to start a successful side hustle, provide incredible resources to the community around them, travel the world, and so much more! While the FI movement is about financially freeing yourself and your family, it is also important to remember why we want that freedom. Not stressing about money is just one piece of a fulfilling life, once you have that freedom, take advantage of it like the Allen’s have!
Timestamps: 1:25 – Introduction/The FI Mindset 9:02 – Budgeting/Wants and Needs 14:59 – Side Hustles 21:02 – Financial Literacy to FI 23:29 – Tax Planning/Travel Rewards 29:11 – College Hacking 42:05 – Living Your Values and Taking Time Off 48:39 – The Importance of Knowing the Rules 53:48 – Traveling Like a Pro 69:25 – Conclusion Resources Mentioned In Today’s Episode: Dave Ramsey Travel Rewards | ChooseFI Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 The 10 Pillars Of FI Modern States The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 All the Hacks Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint MobileMon, 25 Mar 2024 - 1h 07min - 644 - 483 | Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars
In this episode: building a giving framework, the giving pledge, compound impact, donor advised funds, and different ways to give.
Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the life of others. While navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! There are many resources available that can help calculate what you can give while remaining on the FI track, as well as help you see how your donations are making a difference!
Rebecca Herbst & Jack Lewars: Yield and Spread: yieldandspread.org Rebecca’s Coaching Program: Coaching for do-gooders 1 For The World: 1fortheworld.org Jack’s LinkedIn: Jack Lewars Timestamps: 1:37 – Introduction 4:24 – The Giving Pledge 11:59 – Building A Framework And Effective Giving 23:20 – Should You Get To FI Before You Give? 33:12 – Compound Impact 39:48 – Feedback From Giving And Fun Funds 51:08 – Different Ways To Give 61:09 – Donating Appreciated Stocks 66:59 – Conclusion Resources Mentioned In Today’s Episode: Join Your Local ChooseFI Group “The Life You Can Save: How to do your part to end world poverty” by Peter Singer School of Hard Knocks “Practical Ethics” by Peter Singer GiveWell The Life You Can Save “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins Yield & Spread’s DAF Series “Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back” by William MacAskill Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 18 Mar 2024 - 1h 10min - 643 - 482 | Update: Are Remote Tech Careers Still Relevant in 2024? | Bradley Rice
In this episode: salesforce, lifestyle design, testimonials and verification, the hidden job market, and talentstacking.
Once again joined by friend of the show Bradley Rice, the owner and creator of TalentStacker, to update us on the value of SalesForce and career pivoting in 2024. While on the FI journey, you are actively creating the life you want to live. For many that means transitioning out of their life-long careers and opting for ones that offer something different and more accustomed to the life you’re creating. Learning a new skill or starting a side hustle can be the first step to finding that new career, and finding a program that works for you should offer more than just a certification, but assist you in finding new opportunities and a community that supports you!
Bradley Rice: Website: talentstacker.com Facebook: Salesforce for Everyone Salesforce 5 Day Challenge: Take the FREE 5-Day Challenge Podcast: Salesforce for Everyone Timestamps: 1:38 – Introduction 4:17 – Work, Lifestyle Design, and Talentstacking 10:15 – Testimonials, Doing Your Research, and Verification 14:55 – The Hidden Job Market 19:36 – Entering a Salesforce Career with Talentstacker 26:39 – Salesforce Security 32:25 – Conclusion Resources Mentioned In Today’s Episode: The Hidden Job Market | ChooseFI Ep 379 CampFI Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117 Trailhead Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Fri, 15 Mar 2024 - 34min - 642 - 481 | Mailbag: Long-Term Care, Aging Parents and their Finances | Danielle Miura
In this episode: caregiving and FI, retirement planning, reverse mortgages, long-term care, and long-term care insurance.
This week we are joined by Danielle Miura to discuss how her experience as a caregiver has impacted her FI mindset, as well as answer listener questions pertaining to planning for your own long-term care while on the path to FI. As you and your loved ones get older, it’s important to start considering what additional finances they may require. From long-term healthcare to assisted living, there are many factors that not only impact their life financially, but could impact you and your FI plans. While it may be uncomfortable to have conversations with loved ones about their finances and expenses, it is imperative to have these discussions early and create a plan that works for you and your family.
Danielle Miura: Website: spark-fin.com LinkedIn: Danielle Miura Twitter: @Daniellemiula Timestamps: 1:19 – Introduction 2:22 – Caregiving and FI 7:28 – Dealing With Poor Retirement Planning 15:38 – Reverse Mortgages and Viability of Selling The Home 21:41 – Having The Uncomfortable Conversation 24:40 – Planning For Your Final Years 32:41 – Long-Term Care and FI 36:10 – Long Term Care Insurance 45:30 – Conclusion Resources Mentioned In Today’s Episode: Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 11 Mar 2024 - 45min - 641 - 480 | Update: Healthiest Year Ever | Dean Turner
In this episode: optimized exercise, recovering, machine use, increasing your healthspan, and long-term thinking.
This week we are joined by Brad’s friend and personal trainer, Dean Turner, to discuss the changing landscape of strength training, and how principles such as consistency and adherence coupled with rest and recovery can also be applied to both your fitness and FI journey. We often talk about how the path to FI is not just about working towards a monetary goal, but rather creating a better life for yourself. For some this can mean taking a personal account of your health, and taking actionable steps to improve it. Just as making financial changes requires consistency, making physical changes requires the same. While these changes don’t happen overnight, these actions continuously build off of one another and make you stronger!
Dean Turner:
Twitter: @DeanTTraining Website: deanturnertraining.comTimestamps:
2:30 - Introduction 3:41 - Optimized Exercise 9:13 - Recovering and Machine Use 20:51 - Increasing Your Healthspan 27:44 - Long-Term Thinking 29:48 - Conclusion Resources Mentioned In Today’s Episode: Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419 The New Science of Muscle James Clear, Atomic Habits — Simple Strategies for Building (and Breaking) Habits, Questions for Personal Mastery and Growth, Tactics for Writing and Launching a Mega-Bestseller, Finding Leverage, and More (#648) Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Fri, 08 Mar 2024 - 33min - 640 - 479 | Are You on Track to FI? | FI Roundtable
In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life.
This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it’s also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.
Mile High FI:
Podcast: milehighfi.com Newsletter: Join the Mile High FI ClubTimestamps:
1:13 - Introduction 2:41 - Analyzing Finances In Your 20s 9:31 - Compounding Power 13:25 - The Boring Middle 21:01 - FI Role Models 26:41 - Building A Life On The Journey 35:01 - Fat FI 45:37 - Saving Versus Life Enhancement 54:21 - FI Checkpoints 57:52 - ConclusionResources Mentioned In Today’s Episode:
The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 Mr Money Mustache JL Collins "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 The Stages and Checkpoints of FI | ChooseFI Ep 324 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 04 Mar 2024 - 59min - 639 - 478 | 2024 Investing Update | Brian Feroldi
In this episode: buy and hold, macroeconomics, interest rates, bond investing, when to sell, mindset, and thinking differently.
This week we are joined once again by friend of the show Brian Feroldi to discuss the stock market and investing as we head into 2024. As most of you know by now, keeping your head down and staying the course is a pretty typical investing strategy in the FI community, but it is important to remember personal finance is personal. Depending on your situation, life may require you to mold that strategy into something else as your mindset and seasons of life change! Make sure your are not only optimizing your financial situation, but also your life in the process!
Brian Feroldi:
Website: stockinvesting.school Website: longtermmindset.co Twitter: @BrianFeroldi LinkedIn: Brian FeroldiTimestamps:
0:33 - Introduction 3:42 - Buy and Hold 8:36 - "Macroeconomics" 15:17 - The Impact of Interest Rates/ Bond Investing 20:36 - High Yield Savings Accounts 27:18 - 2024 Investing 33:19 - When to Sell 38:05 - The Evolution of Your Mindset 43:40 - Thinking Differently 47:52 - VTSAX 51:21 - ConclusionResources Mentioned In Today’s Episode:
The Motley Fool "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194 Risk Parity Radio "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 26 Feb 2024 - 52min - 638 - 477 | The Hot Seat: Community Edition
In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails.
Ginger joins the podcast this week for a special “Hot Seat” episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it’s incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn’t about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.
Timestamps: 1:45 – Introduction 2:29 – Ashley and Atomic Habits 10:17 – Tyler and Opportunity Cost 19:09 – Amanda and Mental Wellbeing 25:17 – Caesar and PSLF Forgiveness 30:56 – Aaron, House Hacking, and DIY 37:17 – Ginger Takes The Hot Seat 59:33 – Brad Takes The Hot Seat 76:19 – Conclusion Resources Mentioned In Today’s Episode: “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear Atomic Habits | James Clear | ChooseFI Ep 157 “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Just Keep Buying: Proven ways to save money and build your wealth” by Nick Maggiulli BitWarden “The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence Williams I Will Teach You To Be Rich Book your custom student loan plan “Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi Risk Parity Radio “Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt Walker The Matt Walker Podcast Peter Attia Ginger’s New Sheets My First Million Podcast Prof G Show Pivot Podcast Todoist Dean Turner Training Send Us A Voicemail Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 19 Feb 2024 - 1h 17min - 637 - 476 | Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy
In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate.
This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren’t in place. While death can be an uncomfortable topic to think about, it’s important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy’s story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it’s uncomfortable.
Timestamps:
1:23 - Introduction 2:45 - Amy's FI Journey 9:03 - Income Planning and FI 17:24 - What Follows Tragedy 28:33 - The Importance of Wills and Beneficiary Designation 36:23 - Preparing in Advance and Considering The Possibility 44:27 - Immediate Access and The Ancillary Things 48:15 - Probate 59:09 - Setting Up Your Estate 65:09 - ConclusionResources Mentioned In Today’s Episode:
The Shockingly Simple Math Behind Early Retirement Intestate Succession The Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI") Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 12 Feb 2024 - 1h 07min - 636 - 475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney
In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55.
This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold.
The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.
Sean Mullaney:
Website: fitaxguy.com Website: Mullaney Financial and Tax Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideosFIRE in Vegas:
Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City.Timestamps:
0:47 - Introduction 3:39 - Taxable Accounts 19:03 - Inherited Retirement Accounts 25:30 - The Rule of 55 28:39 - 457B's 30:46 - Roth IRA Conversion Ladder 39:12 - The 72(T) 54:52 - Paying the Penalty 57:25 - ConclusionResources Mentioned In Today’s Episode:
Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire On 72(T) Payments 72(t) Payments in Google Sheets Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 05 Feb 2024 - 58min - 635 - 474 | Social Security Deep Dive | Denis Shapiro
In this episode: social security, disability, calculating social security, claiming social security, and due diligence.
This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don’t consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.
Denis Shapiro:
Website: fsadvocates.comTimestamps:
1:16 - Introduction 5:10 - What Pays for Social Security? 11:13 - Social Security and FI/Disability Insurance 17:30 - What Earnings Go Towards Social Security? 23:19 - Disability, Work Subsidies, and Income Related Work Expense 29:03 - How Social Security Benefits Are Calculated 37:05 - Claiming Social Security 39:59 - Social Security and Medicare 44:28 - Social Security and Due Diligence 56:27 - Working and Disability Benefits 59:59 - ConclusionResources Mentioned In Today’s Episode:
SSA.gov Social Security Fact Sheet Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 29 Jan 2024 - 1h 03min - 634 - 473 | Are We There Yet? 'Retire Early' Case Study
In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning.
This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire!
The Retirement Manifesto:
Website: theretirementmanifesto.com Book: "Keys to a Successful Retirement: Staying Happy, Active and Productive in Your Retired Years" by Fritz Gilbert Case Study: From Food Stamps to FIRE: A Case Study on Retirement PlanningTimestamps:
1:33 - Introduction 2:37 - Calculating When You Can Retire 7:46 - Does Retiring Early Effect Social Security? 15:06 - Tracking Spending and Expenses 20:55 - Health Insurance in Retirement 29:49 - The Importance of Planning/Changing Your Assumptions 40:17 - One More Year Syndrome/Your Health Span 45:00 - The Second Phase of Retirement 49:51 - ConclusionResources Mentioned In Today’s Episode:
From Food Stamps to FI | Theresa | ChooseFI Ep 453 New Retirement SSA Tools Open Social Security SSA.gov How To Determine When To Claim Social Security (Retirement Manifesto) The Retirement Manifesto Net Worth Template "Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill Gifford What Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 22 Jan 2024 - 50min - 633 - 472 | The Cure for the Boring Middle | Fioneers
In this episode: the boring middle, lifestyle design, flow states, moving towards purpose, experiments, and experiences.
This week we are rejoined by friend of the podcast Jessica from The Fioneers to the discuss the point of your FI journey known as the “Boring Middle,” and how through actionable steps and lifestyle design you can turn what feels like a stagnant stage in your FI journey, into one filled with growth and change! When you are well on your path towards reaching your FI goal, it is easy to feel like you’re not doing enough. But what feels like a waiting game can actually be an important time for self growth and experimentation. Taking the time to do some introspection to figure out what your core motivations are can allow you to begin opening yourself up to newer experiences that bring value into your life. So if you feel like you are currently on autopilot, there are steps you can take to shake up your routine and usher in new opportunities into your life. While you may have to quiet your own limiting beliefs in this process, you will learn more about yourself and what you want out of your life!
The Fioneers:
Website: thefioneers.com YouTube: The FioneersTimestamps:
1:12 - The Boring Middle/Lifestyle Design 7:19 - Determining Your Version of Success 18:41 - Finding Your Flow State 28:16 - Implementing Your Designed Lifestyle/Moving Towards Purpose 36:09 - Questions, Experiments, and Experiences 46:59 - Making Dreams Actionable 52:09 - ConclusionResources Mentioned In Today’s Episode:
Living Without Regret w/ Hospice Doctor (Slow FI Meetup) Find Your Local ChooseFI Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 15 Jan 2024 - 54min - 632 - 471 | Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett
In this episode: inflation, coast FI, early retirement planning, future tax liability, IRA's and 401k's, and diversification.
This week we are rejoined by founder of Measure Twice Money Cody Garrett for another installment of the Mail Bag, where we will be talking through questions from our listeners covering topics ranging from inflation and its implications on your FI number, ACA subsidies and early retirement, as well as the similarities and differences with Roth accounts and future retirement tax liabilities. Listen along while we dip into the listener mailbag this week and discuss topics chosen from YOU the listener!
Cody Garrett:
Website: measuretwicefinancial.com LinkedIn: Cody GarrettTimestamps:
1:02 - Introduction 1:35 - Inflation and Your FI Number 11:41 - Early Retirement Planning 21:55 - Calculating Future Tax Liability 30:15 - Distinctions Between IRA and 401k 33:37 - Diversification and Tech Stocks 44:26 - ConclusionResources Mentioned In Today’s Episode:
The DIY Financial Plan | EP 352 Find Your Local ChooseFI Group Measure Twice Financial Calculator See Healthcare Plans and Prices Measure Twice Planners Preview: How to Review a Federal Tax Return Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 08 Jan 2024 - 45min - 631 - 470 | The Spectrum of Financial Independence | Chris Hutchins
In this episode: FI versus FIRE, coast FI, lean FI, tools for FI, the skill of spending, dying with zero, and prioritizing health.
This week we are joined by our friend and host of the “All the Hacks” podcast, Chris Hutchins to discuss the “spectrum” of FI, and all that falls in between. From the evolution of FI over the years, to the changes we’ve made on our respective journeys, and even differentiating terms such as FI versus FIRE and Coast FI, we cover it all! We also found some time to share some tools and resources that can be beneficial to you and your FI journey. While the path to FI allows you to take control of your financials and future, this journey can usher in so many new perspectives and changes that affect all areas of your life! Allowing yourself flexibility and remembering that what you are working towards isn’t just a number or early retirement, but rather a more fulfilling life!
Chris Hutchins:
Podcast: All The Hacks Newsletter: All The Hacks NewsletterTimestamps:
1:16 - Introduction 3:19 - FI Versus FIRE 10:11 - Lean FI 17:11 - Coast FI 30:20 - Tools for Tracking FI 41:48 - Optimizing Accounts 47:56 - The Skill of Spending and Dying With Zero 60:12 - Prioritizing Health 70:01 - ConclusionResources Mentioned In Today’s Episode:
Silicon Valley FI | Chris Hutchins | Grove | ChooseFI Ep. 71 Financial Independence Without a Six Figure Salary Reflecting on All the Hacks, Valuing Time and Focusing on the Year Ahead Early Retirement Now Safe Withdrawal Rates Series Copilot Kubera ProjectionLab Die With Zero: Net Fulfillment Over Net Worth Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 01 Jan 2024 - 1h 10min - 630 - 469 | A Tale of Action | Navish Bahl
In this episode: real estate, upskilling, taking action, tracking your expenses, setting goals, getting on the same page, and the hot seat.
This week we are joined by listener Navish Bahl to discuss his journey on the path to FI, the actionable steps he’s taken in order to maximize his life, answer some questions in the HotSeat, and navigating your FI journey while your significant other or family may not be on board. There are many avenues you can utilize in order to achieve FI, and while it may be overwhelming at times to figure out what works for you and your journey, remember that the goal is to learn and go through life with more freedom and balance, not stress and burnout trying to chase a number. The path to FI is a personal one, and as you embark on your journey allow yourself some patience but also some flexibility, and don’t forget to extend some patience to others in your life who may not be on the same path.
Navish Bahl:
LinkedIn: Navish BahlTimestamps:
0:52 - Introduction 2:30 - The Inspiration to Start and Taking Action 11:44 - Real Estate and Rental Properties 18:42 - Upskilling, Getting New Jobs, and Making Connections 33:09 - Discovery, Education, and Action in FI 39:52- Tracking Your Expenses 46:34 - Getting on the Same Page 50:21 - The Hot Seat 55:18 - ConclusionResources Mentioned In Today’s Episode:
"Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" By Andrew Hallam "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446 CIT Bank Review: High Interest Rate Options Find your Local ChooseFI Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 25 Dec 2023 - 55min - 629 - 468 | Year End Wins 2023
In this episode: checking boxes, supplementing income, life by design, taking action, the value of time, and year end wins!
This week we are re-joined by Johnathan for our 7th annual year-end-wins episode! Together we tune into voicemails sent by you the listener and celebrate your victories from 2023! From confidently investing in your future, to finding new friends and support systems within the FI community, we are proud to be a part of your journey towards reclaiming your freedom and your time! There are many small and large goals you all met that deserve to be celebrated! Listen along as we discuss and commend you for taking action and making the most out of your FI journey this year!
Timestamps:0:53 - Introduction 3:03 - Katie, Supplementing Income, and Checking Boxes 6:56 - Rakesh, Second Generation FI, and Investing 9:02 - Stephanie, Life by Design, and the Health Snowball 11:45 - Brian, Coast FI, Teaching FI, and Choosy Consulting 16:16 - Boyd and Emergency Funds 18:13 - International Coast FI, Taking Action, and Reclaiming Your Time 21:25 - Anthony, Skilling Up, and Chasing Your Dream With FI 25:35 - Donna, Helping Family, and Finding Peace Through FI 30:24 - Bryan, The Value of Time, and Deciding to Change 37:31 - Paul, FI Travel Wins, Healthcare, and College Hacking 42:01 - Sabrina, Breaking the Cycle, Marginal Gains, and Being 1% Better 47:52 - ConclusionResources Mentioned In Today’s Episode:
From Vision Board to Action: A FI Success Story | Rakesh | ChooseFI Ep 436 Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305 From Blood Cancer To The Boston Marathon | Boyd Dunleavey | ChooseFI Ep 394 Millionaire Educator House Hacking With Coach Carson | ChooseFI Ep 16 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 18 Dec 2023 - 48min - 628 - 467 | The Power of Community | Amy, Diania, and Stephen
In this episode: community, structuring FI events, unstructured time, the energy in the room, and vulnerability.
We all know that the online FI community can help you along the journey in a variety of ways, but the abundance and ease of access to that community can lead to us forgetting the impact live FI events can have on your life. Our Guests Stephen, Amy, and Diania from CampFI, FI Freedom Retreats, and The EconoMe Conference respectively can attest to the power of in-person communities as they are the ones who work so hard to put them together! Together with Brad, the foursome talk about the different benefits that can come as a result of joining these conferences, and how “the energy in the room” can help you find value and take in information in ways you never thought possible!
Amy, Diania, and Stephen:Stephen (CampFI): campfi.org Diania (EconoMe Conference): economeconference.com (10% off using code "choosefi") Amy (FI Freedom Retreat): fifreedomretreats.com Timestamps: 1:04 – Knowing Versus Doing/The Benefit of Events 8:32 – What Can Be Achieved Through Community 14:02 – Being Vulnerable/The Effect of Multiple Days 22:33 – The Evolution of FI Events 31:23 – Structuring FI Events/The Energy in the Room 43:00 – Attendees Finding Value 51:10 – Conclusion Resources Mentioned In Today’s Episode: Stacking Benjamins Find Your Local ChooseFI Group Join ChooseFI’s Facebook Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 11 Dec 2023 - 54min - 627 - 466 | Journey to Financial Freedom | Jamila Souffrant
In this episode: finding a sustainable path to FI, adjusting your lifestyle, guac levels, mindset, and finding what you want.
Jamila Souffrant makes her long awaited return to the podcast to discuss building a sustainable path to FI, the importance of readjusting, financial freedom versus financial independence, as well as other topics detailed in her new book "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness." While you may begin your FI journey with a set plan in mind, that doesn’t mean the actions you take along the trail of your journey won't serve you at different stages. On this journey, you should never feel like you are depriving or overindulging, but rather finding a balance that works for you and brings you happiness in the present. Remember, reaching your FI goal should never be at the cost of your happiness, and while making necessary changes is part of FI, you shouldn’t be sacrificing your happiness in order to reach your goal quicker. Being mindful and willing to change your plans just as life can change will not only bring you more freedom, but allow you to make the necessary mindset changes that will serve you in ways well beyond your financial journey!
Jamila Souffrant:
Jamila's New Book: "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness" Podcast: Journey to Launch Website: journeytolaunch.com Socials: @journeytolaunchTimestamps:
0:49 - Introduction/Update From Jamila 5:02 - Finding Your Sustainable Path to FI 11:55 - The Perks of Pursuing FI/Adjusting Your Lifestyle Levels 17:17 - Diagnosing Your True Area of Need 22:39 - Gaining Stability/Having Power From Your Money 27:23 - The Importance of Mindset/Believing it's Possible 31:10 - Finding What You Want 38:59 - Setting Financial Goals 41:18 - ConclusionResources Mentioned In Today’s Episode:
Jamila Souffrant | Fail Forward | Journey to Launch | ChooseFI Ep. 73 "The Tail End" by Tim Urban Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)Mon, 04 Dec 2023 - 42min - 626 - 465 | Jonathan Returns: Upside Down Economics and the Priceless Value of a Great Question
In this episode: lessons from failure, curiosity, mastering the small things, skilling up, and the value of time.
The return of Johnathan! Yes Jonathan is returning to the show to catch up on the work he’s been doing behind the scenes over the last year and a half, the value of freeing up your time, skill spending, and the importance of focusing on the little things while keeping the bigger picture in mind. Whether it’s when you’re just starting your FI journey or if it’s in other areas of your life, failure and mistakes can be inevitable. However, they should never keep you from trying to build and create the life you are working towards! One of the key lessons taught in FI is to change your mindset from one of scarcity to one of growth, and part of that challenge means identifying failures and taking action to learn from them. While you are working towards your own “big picture” on this journey, don’t forget to focus on the smaller things. Not only will it allow you to pay closer attention to what you are doing right and wrong, but it makes it easier for you to pivot and reevaluate when necessary! This journey is not just about reaching that final goal, but about using the knowledge and lessons learned along the way to make life a little bit freer and a little bit easier!
Timestamps:0:22 - Introduction 1:26 - Update From Jonathan/Lessons From Failure 8:53 - The Curious Mindset 17:57 - Failing Forward and The Small Things 27:42 - The Importance of Skilling Up in Today's World 36:30 - Your Most Valuable Non-Renewable Resource 44:11 - Paying Off The Mortgage/Donor Advised Funds 59:19 - ConclusionResources Mentioned In Today’s Episode: Beginning of a New Era | ChooseFI Ep 392 “Art & Fear: Observations On The Perils (and Rewards) of Artmaking” by David Bayles Creating Your Entrepreneurial Flywheel | Nathan Barry | ChooseFI Ep 455 CIT Bank Review: High Interest Rate Options Subscribe to The FI Weekly! More Helpful Links and FI Resources: Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 FinanceMon, 27 Nov 2023 - 59min - 625 - 464 | Budgeting Masterclass | Tiffany "The Budgetnista" Aliche
In this episode: the make whole mindset, budgeting, grace and space, automation, and splitting it before you get it.
This week we are re-joined by Tiffany Aliche better known as "The Budgetnista” to discuss her new book "Made Whole: The Practical Guide to Reaching Your Financial Goals" which details her 10 step system towards financial wholeness, the ease of automating payments, the importance of accountability partners, as well as designing separate accounts to reflect your needs. It can be intimidating to begin addressing your finances and planning your financial future, but your past mistakes or lack of knowledge should never be the thing holding you back from beginning your FI journey. Building a financial foundation for yourself doesn’t happen overnight. Everyday it requires you to make the necessary changes and instill new habits that get you closer and closer to your goals. And while personal finance is personal, there is no reason to go through it alone. No matter your background or what stage of life you begin FI, there is a large community of people on this journey that will embrace and celebrate the smaller milestones just as much as the bigger ones!
Tiffany "The Budgetnista" Aliche:
Website: thebudgetnista.com Get You Copy of Tiffany's New Book Coming Out on November 21st 2023: "Made Whole: The Practical Guide to Reaching Your Financial Goals" Tiffany's Last Book: "Get Good with Money: Ten Simple Steps to Becoming Financially Whole"Timestamps:
1:00 - Introduction 2:06 - The Make Whole Mindset 8:19 - Automation 18:34 - Grace and Space For Learning 28:29 - Split It Before You Get It 37:43 - Splitting Your Saving Accounts 44:41 - Emergency Savings/Personal Finance is Personal 54:28 - ConclusionResources Mentioned In Today’s Episode:
Get Good With Money | Tiffany Aliche the Budgetnista | ChooseFI Ep 310 From Financial Imperfection to America’s Favorite Budget Expert | Tiffany Aliche | ChooseFI Ep 240 The Great Man Within The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal | ChooseFI Ep. 66 CIT Bank Review: High Interest Rate Options Subscribe to The FI Weekly! More Helpful Links and FI Resources: Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 FinanceMon, 20 Nov 2023 - 55min - 624 - 463 | Superpower of Frugality | Frugal Friends
In this episode: frugality, value based spending, honoring your season, identity, budgets, financial goals, and minimalism.
When you think of the word frugal what comes to mind? To some it can mean spending on what you absolutely need and leaving little wiggle room for anything else, but to others frugality is not just a restrictive budget but a superpower! This week we are joined by Jen and Jill of the Frugal Friends podcast to discuss the intersectionality of frugality and the FI journey, as well as finding the balance between budgeting to invest in the future you want without depriving yourself in the present. Mindfulness and paying attention to the things you spend money on is an important part of the FI journey, but it is just as important to be mindful of the things that bring value and joy into your life. While budgeting and reducing your spending can help you reach the FI finish line a bit quicker, it should never be at the expense of cutting out the things in your life that are fulfilling! Implementing frugal habits and finding a budget that works and changes with your life can be an incredible tool while on the path to FI, because not only does it open up opportunities to invest monetarily, but also invest in yourself and the life you want to live!
Frugal Friends:
Website: www.frugalfriendspodcast.com Podcast: The Frugal Friends Podcast Newsletter: The Friend LetterTimestamps:
1:11 - Introduction 3:24 - Balancing Frugality 12:38 - Frugality, FI, and How They Fit Together 17:21 - Budgeting and Value Based Spending 26:43 - Honoring Your Season 29:22 - Financial Goals and Identity 36:50 - Examining Budgets and Sinking Funds 42:53 - The Intersection of Frugality and Minimalism 49:37 - Prioritizing Value Based Spending 53:44 - ConclusionResources Mentioned In Today’s Episode:
Why Everyone Needs Dave Ramsey and Why You Should Ignore Him | ChooseFI Ep. 5 Leave Us A Review Subscribe to The FI Weekly!More Helpful Links and FI Resources: Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 FinanceMon, 13 Nov 2023 - 55min - 623 - 462 | Pathfinders | JL Collins
In this episode: the power of pursuit, FU money, index investing, investing the difference, and the simple path to wealth.
This week we are joined by the godfather of the FI movement himself JL Collins to discuss the themes of his new book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them." While there is no perfect blueprint to mastering your money, there can be confidence and motivation to be found in the stories of others who have been in your position regardless of what part of the path to FI you are on! Though this journey requires you to have to take action and make necessary financial changes, it is never about complexity and deprivation. But rather, this journey is about recognizing the freedoms gained while pursuing FI, not just when you reach your FI goal! The moment you begin to simplify your path to wealth, you will find yourself becoming a stronger and happier individual!
JL Collins:
Check Out JL's New Book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them" Website: jlcollinsnh.com Other Book: "The Simple Path to Wealth: Your road map to financial independence and a rich, free life"Timestamps:
1:25 - Introduction 4:27 - The Power Of Pursuit And FI 13:48 - Buying Your Freedom 22:34 - There's No Secret To Money 30:35 - The Power Of Index Investing 43:29 - Spend Less, Avoid Debt, And Invest The Difference 51:27 - Following The Simple Path To Wealth 56:26 - ConclusionResources Mentioned In Today’s Episode:
"Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung 10 Reasons People Invest in Hedge Funds A Wealth Of Common Sense 32 Things to Know about Following The Simple Path to Wealth Time Machine and the Future Returns for Stocks Subscribe to The FI Weekly!More Helpful Links and FI Resources:
Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 FinanceMon, 06 Nov 2023 - 58min - 622 - 461 | Taking Space for Yourself and Community | October Roundup
In this episode: community, building fun into your life, college planning, fear, following threads, and travel rewards.
This week we are rejoined by Ginger for another installment of the Round-Up, where we catch up and discuss our favorite takeaways from this past month’s episodes. From learning how to best prepare your child for the college application process, to the importance of introspection to pinpoint and work with your fears, and finally to re-framing your fearing relationship with money. It’s been a great month with content full of information that all listeners can relate to, no matter what part of the FI journey they are in!
Timestamps:
0:37 - Introduction 3:23 - Community 12:45 - Building Fun Into Your Life 17:51 - Usage Of Travel Rewards 29:51 - College Planning 37:18 - Following the Threads, Fear, And Money 49:32 - Retirement Investing/The Mailbag 57:00 - ConclusionResources Mentioned In Today’s Episode:
FI is Fun FinCon The Great Man Within EconoME Conference (Coupon Code "choosefi" for 10% Off!) CampFI FI Freedom Retreats Find Your Local ChooseFI Group "The Inheritance Games" By Jennifer Lynn Barnes "The Blade Itself" by Joe Abercrombie Mailbag: Cover Your Expenses | Rachael Camp | ChooseFI Ep 457 Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 A Healthy State of Panic | Farnoosh Torabi | ChooseFI Ep 458 Follow the Thread | Cory Muscara | ChooseFI Ep 459 Subscribe to The FI Weekly!More Helpful Links and FI Resources:
Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 30 Oct 2023 - 58min - 621 - 460 | Preparing for the Cost of College | Brian Eufinger
In this episode: financial aid, college planning, standardized tests, tests optional, need meeting, and preparation.
This week we are re-joined by Brian Eufinger to discuss ways to best prepare your children for college admissions, navigating the new changes to FAFSA and the CSS profile, and how you can maximize when prepping for your child’s higher education. While college prep can be stressful for students, from maintaining their GPA to taking multiple standardized tests, it can be just as stressful for parents to figure out financial aid and how to best set up their child for success before and after graduation. However, knowing the factors to consider early on and having the knowledge in advance can make this process far less daunting! While stressful as it may be, remember that there are many different resources available to you and your child that give you the knowledge that may alleviate the pressures that come with college prep and financial aid!
Brian Eufinger:
Free diagnostic mock SAT and ACT tests (each weekend): www.edisonprep.com/mocks/ Free information sessions on college admissions (6-7x / year, including one on 11/14 @ 7pm EST): www.edisonprep.com/infosession/ How to self-prep for the SAT/ACT: www.gettestbright.com/self-prep-for-the-sat-act/ Edison Prep Bios: www.edisonprep.com/bio/Timestamps:
1:06 - Introduction 4:53 - The Impact of Merit Aid 11:49 - When, Where, and How to Think About Standardized Tests 18:33 - The Intersection of The School, Price, Opportunity, and Comfort 25:20 - Standardized Tests and The Reality of Preparation 31:08 - Tests (Not) Optional 37:32 - Governmental Forms and Financial Aid 46:43 - The Variance of Need Meeting and Aid Changes 51:13 - Preparation and Knowledge With College Planning 55:23 - Non-Academic Path to Savings 58:14 - ConclusionResources Mentioned In Today’s Episode:
Demystify College Scholarships | Brian Eufinger | Edison Prep | ChooseFI Ep 114 Hacking The FAFSA | Brian Eufinger And Seonwoo Lee | ChooseFI Ep. 154 Major Financial Aid Changes Coming: What Families Need to Know FAFSA Changes Are Coming: What You Need To Know Big J’s Very Brief Guide to the FAFSA and CSS Profile How the FAFSA Simplification Can Impact Your Financial Aid Summary of Changes to the 2024-2025 FAFSA The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 Subscribe to The FI Weekly!More Helpful Links and FI Resources:
Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 23 Oct 2023 - 59min - 620 - 459 | Follow the Thread | Cory Muscara
In this episode: spiritual bypassing, curiosity, fear, wellbeing, inflection points, and what the body stores.
This we are re-joined by Cory Muscara to discuss the benefits of practicing mindfulness while embarking on the FI journey, the concept of spiritual bypassing, and the positive benefits that come from being present. An important part of the FI journey is learning to take actionable steps to better your life, and a large part of this requires introspection and honest reflection of where you are in your life. Through the practice of meditation and setting intentions, it may allow you to recognize patterns that harm you or keep you from enjoying life in the present. While working through triggers or anxieties can be uncomfortable, mindful practices can be the vehicle to move you from discomfort to a place of control and confidence in your life. So while you may be putting all your mental energy into reaching your FI goal, remember that getting to the finish line is not what this journey is about, but rather the positive effects and changes that come from taking control of your life and being present!
Cory Muscara:
To join Cory's daily text list text "choosefi" to 631-305-2874 Website: Practicing Human Book: "Stop Missing Your Life: How to be Deeply Present in an Un-Present World" Instagram: @corymuscaraTimestamps:
1:56 - Introduction 2:34 - The Cost of Relocation 6:28 - The Danger Of Spiritual Bypassing Through FI 16:52 - Curiosity and Fear 27:22 - What The Body Stores 33:18 - Money and Well-being/Inflection Points 40:46 - Taking Control and Following The Thread 48:12 - ConclusionResources Mentioned In Today’s Episode:
Mindfulness And FI | Cory Muscara | ChooseFI Ep 61 "Influence, New and Expanded: The Psychology of Persuasion" By Robert Cialdini Headspace "The Body Keeps the Score: Brain, Mind, and Body in the Healing of Trauma" by Bessel van der Kolk MD Subscribe to The FI Weekly!More Helpful Links and FI Resources:
Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 16 Oct 2023 - 49min - 619 - 458 | A Healthy State of Panic | Farnoosh Torabi
In this episode: fear, anxiety, FOMO, talking about money, endings, self development, exposure, and the fear of loneliness.
This week we are joined by Farnoosh Tarabi where we will be discussing the topic of fear and anxiety, reinterpreting FOMO, and how to recognize and use your fears and anxieties to work with you in order to reach your financial goals. While we can sometimes interpret our own fear as a weakness, many times these fears and anxieties can be a secret weapon, ones that motivate us and usher in necessary change that can make a difference in the path that we are on. In some cases, it can be a fear of missing out on opportunities. Other times it can be a fear of endings. But no matter the fears, learning to recognize the underlying feelings and meanings can ultimately help you on the path to FI! Remember, an important part of this journey requires introspection, and while it may be uncomfortable to sit with your fears and anxieties, working with them, rather than against them may just be the superpower you didn’t know you had.
Farnoosh Torabi:
Check out Farnoosh's new book "A Healthy State of Panic! Follow Your Fears to Build Wealth, Crush Your Career, and Win at Life"Timestamps:2:12 - Introduction 3:24 - The Other Side of Anxiety's Coin 8:23 - Fear and Finance/Talking About Money 16:41 - The Fear of Rejection 25:22 - The Fear of Missing Out/The Fear of Loneliness 39:33 - The Fear of Exposure 45:29 - The Fear of Endings 50:03 - ConclusionResources Mentioned In Today’s Episode:
So Money Podcast "The Anatomy of Anxiety: Understanding and Overcoming the Body's Fear Response" by Ellen Vora "When She Makes More" by Farnoosh Torabi Subscribe to The FI Weekly!More Helpful Links and FI Resources:
Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 09 Oct 2023 - 50min - 618 - 457 | Mailbag: Cover Your Expenses | Rachael Camp
In this episode: the 4% rule, second generation FI, retirement saving, 529's, 401k's, and is it too late for FI?
This week we joined by Rachael Camp of Camp Wealth for another installment of Mail Bag, where we will be answering some questions sent in by our listeners. Together, we cover topics surrounding the 4 percent rule, starting the FI journey “late”, the importance of tax diversity in your retirement accounts, and the potential benefits and drawbacks to 529 plans. On the path to FI, the community this journey brings can be the best resource, and answering any questions you may have is our way to ensure you’re well on your way to FI, as well as help others in the community who may be navigating similar scenarios!
Rachael Camp:Website: rachaelcampwealth.com Twitter: @camp_wealthPlease note:
Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
Timestamps:1:09 - Introduction 3:22 - Can It Be Too Late For FI?/Credit Card Debt 18:25 - The 4% Rule And Early Retirement 27:02 - Withdrawing Earnings 40:06 - Not Maxing Out Your 401k? 50:03 - 529's and Financial Aid 57:04 - Second Generation FI 72:10 - ConclusionResources Mentioned In Today’s Episode:Subscribe to The FI Weekly! The Safe Withdrawal Rate Series "Die With Zero: Getting All You Can from Your Money and Your Life" By Bill Perkins FICalc How and Why to Set up a Roth IRA Conversion LadderMore Helpful Links and FI Resources:Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 02 Oct 2023 - 1h 12min - 617 - 456 | Taking a Step to FI | September Roundup with Ginger
In this episode: the importance of starting, everything is negotiable, talentstacking, building your flywheel, and Ginger!
As September comes to a close, it’s once again time for another Roundup episode! This week we are rejoined by Ginger, where we will be revisiting the topics of our September episodes and discussing our favorite takeaways and the talking points that stood out to us. From the importance of perseverance on your path to FI and embracing the community this journey brings, and negotiating salary with confidence, to finally skill stacking and the teaching opportunities it may bring for you and others! So lets look back on what FI can look like from the different points of view of our past month’s guests, and move into October better informed and better prepared!
Timestamps:0:35 - Introduction 2:02 - Taxes And After-Tax Brokerage Accounts 9:55 - The Importance Of Starting/Community 19:52 - Decision Making Strategy/Focusing On The Future 23:53 - Everything Is Negotiable/Being Prepared And Doing the Work 31:31 - Talentstacking And Building Your Flywheel 36:14 - What Your Money Can Do For You 41:55 - Reviews And ConclusionResources Mentioned In Today’s Episode:FI is Fun From Food Stamps to FI | Theresa | ChooseFI Ep 453 Find Your Local ChooseFI Group CampFI EconoME Conference "Widen the Window: Training Your Brain and Body to Thrive During Stress and Recover from Trauma" by Elizabeth A. Stanley Salary Negotiation & Early Retirement | Financial Mechanic | ChooseFI Ep 454 Creating Your Entrepreneurial Flywheel | Nathan Barry | Ep 455 Subscribe to The FI Weekly!More Helpful Links and FI Resources:Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 25 Sep 2023 - 45min - 616 - 455 | Creating Your Entrepreneurial Flywheel | Nathan Barry
In this episode: it's not easy it's simple, the flywheel, being consistent, skilling up, the gift of time, and what money can provide.
This week we are joined by founder and creator of ConvertKit, Nathan Barry to discuss his entrepreneurial journey and how the fundamentals of FI helped drive him to create and build a successful business. We often discuss the importance of skill stacking when on the journey to FI, but we sometimes forget to touch on the trial and error that comes with learning and creating something new for yourself. While you can’t expect to start something new and be faced with little to no challenges, this leaves more opportunities for personal growth and important lessons! So whether it’s learning a new side hustle or starting a business, it’s important to remember that you may not always know how to do something perfect when you begin. You should not count yourself out or give up when you don’t see instant results, but rather reach out to new communities and take the lessons in stride! Though it takes time and effort, it’s worth it!
Nathan Barry:
Website/Newsletter: nathanbarry.com Twitter: @nathanbarry Business: convertkit.comTimestamps:1:23 - Introduction 3:24 - Nathan and FI 15:56 - Not Burning the Boats 22:26 - It's Not Easy, But it's Simple/Unique Messengers 33:00 - Being Consistent, Showing Up, and Skilling Up 44:22 - The Flywheel 58:01 - What Money Can Provide/The Gift of Time 70:16 - ConclusionResources Mentioned In Today’s Episode:Mr. Money Mustache Physician on FIRE "The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future" By Chris Guillebeau "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Tail End School of Greatness Podcast Subscribe to The FI Weekly!More Helpful Links and FI Resources:Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 18 Sep 2023 - 1h 12min - 615 - 454 | Salary Negotiation & Early Retirement | Financial Mechanic
In this episode: salary negotiation, knowing your worth, doing your own research, anchoring, and facing job offers.
We often talk about the importance of shifting out of a scarcity mindset towards an abundant one, and this can mean leaving a job for a new one, or even asking for a higher wage. But how do you overcome the guilty feelings that can arise when wanting to level up? This week we are re-joined by the Financial Mechanic to discuss the art and steps to successful salary negotiating, from doing your research to collaboratively working with hiring managers, and learning to handle the discomfort and self doubt that can come when asking for more. While negotiating can make you feel uncomfortable or even intimidated, it’s important to remind yourself that asking for what you want does not mean you are begging. Rather, it means you know your worth and are advocating for yourself and your future! Though it takes practice, learning how to confidently negotiate can make a difference in your present but make all the difference in your future and your FI goals!
Financial Mechanic:
Website: financialmechanic.com Twitter: @fimechanicTimestamps:1:05 - Introduction 5:21 - The Win-Win of Salary Negotiation 14:40 - Delay Talking About Salary 18:42 - Doing Your Research 25:33 - Knowing Your Worth 29:21 - The Negotiation 36:44 - Negotiation is About More Than Salary 41:10 - Accepting, Rejecting, and Making Your Decision 44:49 - Updates From The Financial Mechanic 53:25 - ConclusionResources Mentioned In Today’s Episode:How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211 Glassdoor 1 Year of Early Retirement (With Numbers) Subscribe to The FI Weekly!More Helpful Links and FI Resources:Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 11 Sep 2023 - 54min - 614 - 453 | From Food Stamps to FI | Theresa
In this episode: the importance of community, finding financial literacy, pulling the levers of FI, and the hot seat.
We’ve heard incredible stories of FI from many of our listeners, but this week we are lucky to hear from someone who overcame so much in order to achieve the life she always wanted. This week we are joined by one of our listeners Teresa, where we discuss her incredible story of navigating and overcoming debt as a single mother to building a strong foundation of financial literacy and knowledge for herself and her daughters! Some of us on the path to FI may not have grown up surrounded by great financial models, and maybe some of our listeners may feel overwhelmed with the new tips and knowledge that FI brings, but please remember that feeling unprepared is no reason to count yourself out on this journey! Your past failures or mistakes shouldn’t hold you back from building the life you want and the life you deserve, but rather they should motivate you to learn and grow into the best future version of yourself!
Timestamps:1:06 - Introduction 2:52 - Theresa's Story 9:02 - Awakening 16:31 - Finding Financial Literacy and What Came With It 22:22 - The Importance of Community 31:36 - You've Recovered Financially, Now What? 39:43 - Pulling The Levers of FI 49:02 - The Opportunity FI Provides 55:37 - Theresa Takes The Hot Seat 64:41 - ConclusionResources Mentioned In Today’s Episode:Dave Ramsey Coach Carson "Everyday Cheapskate's Greatest Tips" By Mary Hunt "Retire Inspired: It's Not an Age, It's a Financial Number" By Chris Hogan Financial Peace Graduates | What Next? | Andy Hill | ChooseFI Ep 68 Welcome To The FI Community | ChooseFI Ep. 100 "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins Grumpus Maximus Subscribe to The FI Weekly!More Helpful Links and FI Resources:Earn $1,050 or More With These 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-Free Investing with M1 FinanceMon, 04 Sep 2023 - 1h 05min - 613 - 452 | This is Not a Dress Rehearsal | August Roundup with Katie
In this episode: spending for value, mastering your finances, what nourishes you, limiting beliefs, and getting the best out of yourself.
The end of August is rapidly approaching which means it is time for another round-up episode. To close out the month this time we are joined by Katie Gatti from "Money with Katie" to discuss all the lessons we picked up from the last month of ChooseFI! Whether it's planning a mini-retirement, designing what your want your life to look like, or forming your identity statements, our wonderful August guests have provided some amazing blueprints for you to start becoming the best version of yourself. So now that the summer is ending, it seems like a great time to take action on what we have learned together!
Katie Gatti:
Website: moneywithkatie.com Podcast: The Money With Katie ShowTimestamps:
1:11 - Introduction 4:34 - Spending For What You Value 9:59 - Getting The Best Out Of Yourself 14:26 - Claiming The Life You Want 24:59 - Mastering Your Financials First 33:20 - Limiting Beliefs 44:48 - It's Not Too Late To Start/What Nourishes You? 50:42 - Identity Statements 54:38 - ConclusionResources Mentioned In Today’s Episode:
Why Decluttering Can Lead to Increased Brain Power "Goodbye, Things: The New Japanese Minimalism" by Fumio Sasaki Rubber Ducks and Systems for Land Investing | ChooseFI Ep 449 Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 Catching up to FI | Becky Heptig & Bill Yount | Ep 450 "Four Thousand Weeks: Time Management for Mortals" by Oliver Burkeman "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Miss Excel Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 28 Aug 2023 - 56min - 612 - 451 | Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud
In this episode: mini-retirements, building fun into your life, structuring and planning mini-retirements, negotiating, and gaining momentum.
When pursuing your FI goal, it can feel like you are on a set trajectory, and picking up new habits or hobbies can seem overwhelming because you don’t have the time to focus on them. However, you should never feel held back from starting something new! This week we are joined by Jillian Johnsrud to define and discuss the mini-retirement strategy, and how taking a break to recover, relax, and re-strategize can propel you towards your FI goals! Sometimes the thought of taking a break can seem scary, or even the thought of relaxing can be more stressful than it's meant to be. But, taking the time and space away from your usual structure can allow you the space and bandwidth to pursue other avenues that you are passionate about! While the thought of a mini-retirement can leave you feeling unstructured from your usual 9-5, it can usher in more time for hobbies, side hustles, or even new jobs! So, while your journey to FI may be filled with rules and guidelines set in place to help you reach your FI goal, remember that there is no harm in taking an active rest in order to restructure your goals and re-motivate you!
Jillian Johnsrud:
Website: jillianjohnsrud.com Podcast: Everyday Courage Book: "Fire the Haters: Finding Courage to Create Online in a Critical World"Timestamps:
0:59 - Introduction 3:34 - Building Fun Into Your Life 12:25 - The Purpose of Mini-Retirements 19:35 - Structuring A Mini Retirement And Avoiding Mistakes 28:25 - Gaining Momentum In A Mini-Retirement 37:17 - Mini-Retirement Negotiation 45:55 - Planning A Mini-Retirement 50:42 - ConclusionResources Mentioned In Today’s Episode:
"Influence : The Psychology of Persuasion" by Robert Cialdini Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 21 Aug 2023 - 51min - 611 - 450 | Catching up to FI | Becky Heptig & Bill Yount
In this episode: changing your mindset, starting FI at 50, the pros and cons of starting late, and facing your faults.
We always say on this show that FI is for everyone, but our guests Becky Heptig and Bill Yount really embody this message. As hosts of the "Catching Up to FI" podcast, Becky and Bill are a fantastic resource for those who have found FI later in life and still would like to give it a go despite the delayed start! While FI looks different for everyone and can be influenced by when you start, we agree with Bill and Becky in saying becoming intentional with your finances is always a positive decision, no matter when you do it in life. Although your path may look different from those who started earlier, you would still be taking steps to better your life inside and around your finances. Perfection isn't the goal, improvement is what we strive for, and a positive step is still a step in the right direction!
Becky Heptig & Bill Yount:
Website: catchinguptofi.com Podcast: Catching Up to FI Facebook: Catching Up to FI Facebook GroupTimestamps:
1:10 - Introduction 4:29 - Changing Your Mindset and Facing Your Faults 14:32 - Taking Late Action 21:34 - Getting Stuck and Overcoming It 24:28 - Starting FI at 50 33:25 - Is It Ever Too Late To Start FI? 40:00 - The Pros and Cons of Starting Late 44:45 - The Growth of Those Catching Up to FI 48:22 - ConclusionResources Mentioned In Today’s Episode:
Is It Too Late? | Becky Heptig | ChooseFI Ep. 152 The Shockingly Simple Math Behind Early Retirement Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney | ChooseFI Ep 447 Dave Ramsey JL Collins Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 14 Aug 2023 - 49min - 610 - 449 | Rubber Ducks and Systems for Land Investing
In this episode: determining your FI goals, real estate investing, land investing, liquidity, and proof of concept.
Whether you are new to FI or have achieved it, you have probably noticed a big change not only in how you live your life, but how you perceive yourself. You may be more intentional and strive to make changes in all areas of your life, not just financial ones. This week we are joined by our friend JT Olmstead to discuss the ins and outs of land investing, as well as talk about the importance of having the right mentality to accomplish your goals and become the best version of yourself. While on the journey to FI, you may feel momentum and motivation to keep pushing towards your FI number, but oftentimes the journey doesn’t end when you get to the finish line. A large part of this journey is learning from failures, changing your goals, and changing your plans as you change! Though your plans and goals may not always be accomplished the way you think, having the right mindset throughout this journey will be just as beneficial to you as having plans in place.
Timestamps:
0:56 - Introduction 5:20 - Determining Your FI Goals 11:34 - The Top End of Your Capabilities/The Skill Of Saying No 22:01 - Real Estate Investing 27:43 - Transitioning to Land Investing 32:16 - The Intersection of FI and Real Estate Investing 42:12 - Personal Proof of Concept/Land Investing 48:17 - Liquidity/Structuring Buying and Selling Systems 59:52 - Resources For Land Investing/Where to Start 62:59 - The Hot Seat 72:12 - ConclusionResources Mentioned In Today’s Episode:
Camp FI Mr. Money Mustache Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446 Biggerpockets FIRE Drill Podcast Seth Williams RE Tipster Annie Duke Casual Fridays Podcast "The Comfort Crisis: Embrace Discomfort To Reclaim Your Wild, Happy, Healthy Self" by Michael Easter Join ChooseFI's Facebook Group! Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 07 Aug 2023 - 1h 12min - 609 - 448 | July Roundup: Working Backwards Into FI
As this month comes to a close, we think it’s only fitting to reflect on what July’s incredible guests have had to say, and what new knowledge and perspectives they’ve brought to the table. This week we are back with Ginger and introducing a more structured Round-Up, where we will be revisiting topics from this past month's episodes and discussing our favorite moments and takeaways. While the subjects of this month's episodes have varied from spending for happiness to understanding Roth conversions, there is still more to learn and unpack before moving onto August!
Timestamps:
1:44 - Introduction 2:17 - Listener Updates/Travel Rewards 7:08 - Spending for Happiness 18:35 - Saving Addiction 22:01 - The Fundamental Truths of Investing 31:12 - The Small and Mighty Real Estate Investor 41:11 - Roth Conversions/Breaking Up with Your Financial Advisor 49:50 - Purposefully Not Optimizing 55:58 - ConclusionResources Mentioned In Today’s Episode:
The Invisible Nature of Spending | Ginger Roundup | ChooseFI Ep 443 ChooseFI’s Top 10 Recommended Travel Rewards Cards Spending for Happiness | Carl Jensen & Doug Cunnington | ChooseFI Ep 444 Cometeer Fundamental Truths of Investing | Brian Feroldi | ChooseFI Ep 445 Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446 Nick Magguilli Return on Hassle Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney | Ep 447 FI is FunMore Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 31 Jul 2023 - 56min - 608 - 447 | Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney
In this episode: financial advisor breakups, I bonds, the 4% rule, second generation FI, Roth IRAs, and the listener mailbag.
Breakups are hard, but breaking up with financial advisor can be harder given the minutia that is often involved in doing so. It's good to have friends to lean on in times like this, which is exactly why we have the FI Tax Guy himself Sean Mullaney with us to help! Listen along as he and Brad dip back into the listener mailbag this week and discuss a plethora of topics submitted by YOU the listener!
Sean Mullaney:
Website: fitaxguy.com Sean's Roth IRA Blog Post: How I Learned To Stop Worrying About The Roth IRA 5 Year RulesTimestamps:
0:43 - Introduction/Breaking Up With Your Financial Advisor 15:13 - The Taxable Nature of Financial Breakups 22:11 - I Bonds 29:12 - The 4% Rule and Age 35:40 - Second Generation FI and Accounts 43:48 - Early Roth IRA Conversions 48:18 - Roth IRA's and 5 Year Rules 57:24 - ConclusionResources Mentioned In Today’s Episode:
Early Retirement Now BiggerPockets Money Podcast Join ChooseFI's Facebook Group Make Your Kid a Millionaire: Roth IRA for Kids The Wealth Letters Jillian Johnsrud The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep. 17r Roth IRA Conversion Ladder Case Study | ChooseFI Ep. 163r Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 24 Jul 2023 - 57min - 607 - 446 | Small and Mighty Real Estate Investor | Chad Carson
In this episode: designing your life, real estate investing, pain points, working backward, and finding your sweet spot.
This week we are rejoined by friend of the podcast Chad Carson to discuss his new book "The Small and Mighty Real Estate Investor: How to Reach Financial Freedom with Fewer Rental Properties," as well as cover some strategies he’s picked up during his real estate investing journey. While investing in real estate can be a full time job, for many listeners it can also be seen as a way to generate additional income. Although getting started can seem a little daunting, Chad offers excellent insights on how to confidently begin real estate investing and stay motivated towards having your investments align with your personal goals and desired life!
Chad Carson:
Get 10% off Chad's book coming out on July 20th, "The Small and Mighty Real Estate Investor: How to Reach Financial Freedom with Fewer Rental Properties," with the promo-code "choosefi"Timestamps:
1:02 - Introduction 4:34 - Designing Your Life 14:36 - Walkability and Location 23:39 - Buying Around Pain Points 28:08 - Working Backwards for Solutions 34:55 - Transition From Buying to Paying Off 43:52 - Working In Your Sweet Spot 52:02 - What You Can't Outsource 57:10 - ConclusionResources Mentioned In Today’s Episode:
"The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" By Timothy Ferriss Strong Towns Of Dollars and Data "Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence" by Vicki Robin, Joe Dominguez, and Mr. Money Moustache Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 17 Jul 2023 - 1h 00min - 606 - 445 | Fundamental Truths of Investing | Brian Feroldi
In this episode: investing, losing money hurts, pessimism, optimism, index funds, psychology, history, and building wealth.
Whether you're a confident investor or weary of playing the market, there is still a lot to be learned when it comes to your investments. This week we are re-joined by friend of the podcast Brian Feroldi to discuss important truths and takeaways he’s learned as a decades-long investor, from navigating the psychology and history of the market, to focusing on longevity and simplicity rather than getting rich quick. When listening to this episode, remember that playing the market doesn’t have to be a complicated game, and no one should feel un-equipped to invest! Just be sure to understand that investing will never be a perfect journey, and preparing yourself for low points may help you make better decisions in the long run!
Brian Feroldi:
Website: brianferoldi.com Twitter: @brianferoldi Book: “Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren’t” By Brian FeroldiTimestamps:
0:41 - Introduction 4:27 - You Will Be Wrong 9:45 - Losing Money HURTS 12:54 - Humans Are Naturally Bad Investors 16:09 - Pessimism And Optimism 20:22 - The Power Of Index Funds 22:31 - The Power Of History And Psychology 24:45 - Avoiding Ruin Is A Skill 28:56 - Keeping It Simple 35:24 - To Build Wealth, You Need To Invest 37:50 - ConclusionResources Mentioned In Today’s Episode:
"Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger" by Charles T. Munger "The Psychology of Money: Timeless lessons on wealth, greed, and happiness" by Morgan Housel "Expectations Investing: Reading Stock Prices for Better Returns" by Michael J. Mauboussin Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 10 Jul 2023 - 38min - 605 - 444 | Spending for Happiness | Carl Jensen & Doug Cunnington
In this episode: the phases of FI, your spending framework, dying with zero, changing your anchor points, and the value of time.
This podcast offers insight to what the path to FI can look like for listeners, and while we usually speak broadly to our listeners who are all at different stages of FI, it’s important to look back, as well as look forward to see how this journey has changed for us. This week we are joined by Carl Jensen and Doug Cunnington of Mile High FI to talk about the evolution of the FI movement from when we all began this journey, as well as reflect and discuss the trends and important takeaways of where we see the FI movement going. While finding your own balance is important in all parts of life, finding balance while on the FI journey is just as important! Learning to become intentional with your spending is also important. It can be extremely beneficial to your life to learn healthier ways to spend rather than deprive yourself of some of the most important items or experiences that bring you joy! So remember, whether you are at the beginning or well on your way towards reaching your FI goal, you will evolve with FI over time and application, just as FI will evolve around you!
Mile High FI:
Website: milehighfi.com Podcast: Mile High FI Newsletter: Join The Mile High FI ClubTimestamps:
1:25 – Introduction 4:41 – The Phases of FI 11:18 – Building Your Life-Spending Framework 18:31 – What’s Worth Spending On 26:16 – Re-Evaluating Anchor Points 33:43 – The Value of Saving Time 42:22 – Dying With Zero 51:02 – Why Wait For Death To Help Your Loved Ones Fiscally? 56:32 – Buying A Concert 59:30 – ConclusionResources Mentioned In Today’s Episode:
The Skill of Spending | Mr. Money Mustache | ChooseFI Ep 432 The Tim Ferris Show Episode 661 The Mad Fientist “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins The Tail End “Outlive: The Science and Art of Longevity” by Dr. Peter Attia Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 03 Jul 2023 - 1h 01min - 604 - 443 | The Invisible Nature of Spending | Ginger Roundup
In this episode: travel rewards, credit cards, the true cost of buying a car, health, retirement, and community wins.
This week we are re-joined by Ginger for another Round-Up episode where we will briefly discuss travel rewards, updates on Ginger’s credit card journey, the value of implementing new habits, and also dip into the listener mailbag! Over the course of this podcast we often discuss the importance of taking action and making changes in your life to not only achieve FI but also improve your life overall. While we know changes don’t happen overnight, (just as no one can reach their FI goal overnight) it’s important to remember that sometimes the best thing you can do is take action little by little. Sometimes this means budgeting, and other times it can mean breaking free from an unhealthy frugal mindset in order improve your quality of life! Whatever the changes you wish to make or habits you want to create are, remember it's never too late to begin!
Timestamps:
0:10 - Introduction 0:29 - Travel Rewards 6:52 - Global Entry/Credit Cards 16:30 - The True Cost Of Buying A Car 25:49 - Health, Fitness, and Habits 39:44 - Pensions and Retirement Numbers 48:22 - Community Wins 54:34 - ConclusionResources Mentioned In Today’s Episode:
Dollars and Sense | Clint Murphy & Ginger | ChooseFI Ep 438 “Dollars and Sense: How We Misthink Money and How to Spend Smarter” By Jeff Kreisler and Dan Ariely Featured Travel Rewards Articles Rewards Credit Card Offers From Our Partners Outside 365 | Greg Heil | ChooseFI Ep 433 "Outlive: The Science and Art of Longevity" by Dr. Peter Attia The Valuist Returns | FI Roundup with Bo Loy | ChooseFI Ep 441 Atomic Habits | James Clear | ChooseFI Ep 157 "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear The Golden Albatross | Grumpus Maximus | ChooseFI Ep 57 The Golden Albatross | Grumpus Maximus | ChooseFI Ep 227 Is Your Pension Healthy? | ChooseFI Ep 316 "The Golden Albatross: How To Determine If Your Pension Is Worth It" by Grumpus Maximus FI Is Fun Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 26 Jun 2023 - 54min - 603 - 442 | Intermediate Travel Rewards
In this episode: the travelers triangle, booking early, flexibility, planning, hotels, and knowing you are getting a deal.
This week Suzy joins us for a new installment of travel rewards tips, where we will be diving deeper into how you can optimize your savings and travel points to get the most out of your travels. While the subject matter we are tackling today may be more useful to listeners who have already acquired the necessary credit cards and travel points, there is still a lot of helpful information you can use when planning your next trip! So whether that's learning to book early and play around with the sites mentioned on today's episode, or allowing flexibility to mitigate the stress of traveling, this episode is here to act as an additional resource to those learning to take advantage of what their travel points can offer.
Timestamps:
1:24 - Introduction 6:09 - The Travelers Triangle 12:31 - Booking Ahead Of Time 23:28 - Tools For Travel Rewards 33:14 - Flexibility And Planning 45:10 - FI Booking Processes 57:57 - Taxes,Fees, And Knowing Your Getting A Deal 64:06 - Hotels 70:45 - ConclusionResources Mentioned In Today’s Episode:
ChooseFI Travel Rewards CashFreely and Travel Freely Signup Links Seats.aero point.me BoundlessMiles Max Miles Instagram Max Miles Website GeoBreeze Travel Podcast Bens Big Deal Frequent Traveler University Frequent Miler On The Air Sonic Travelers Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 19 Jun 2023 - 1h 11min - 602 - 441 | The Valuist Returns | FI Roundup with Bo Loy
In this episode: the continuum of FI, skilling up, chasing true value, the power of connection, and second generation FI.
This week we are rejoined by friend of the podcast Bo Loy to talk about finding value on the FI journey, drowning out the "noise," and the importance of not depriving yourself of happiness in order to reach your FI goal. While the journey to FI does require you to make financial changes and pick up new habits that can launch you towards financial independence, the purpose of this journey is never to deprive or restrict yourself in order to reach your goal. No matter when you begin this journey, the goal in mind should be taking steps in order to improve your life both financially AND mentally. Not sacrificing the things that bring value to it! There's a lot to learn on the path to FI, but it’s important to remember that what you are working towards is more than just a number, it's personal happiness, fulfillment, and more!
Timestamps:
0:58 - Introduction 4:37 - The Continuum of FI 11:51 - Skilling Up 15:44 - Life Updates 25:59 - Chasing True Value 34:55 - Meeting Your kids Where Their Interests Lie 41:17 - The Power of Connection 48:20 - Just Going For It 52:24 - ConclusionResources Mentioned In Today’s Episode:
The Valuist | Bo Loy | ChooseFI Ep 396 Talent Stacker Dean Turner Training on Twitter "Outlive: The Science and Art of Longevity" by Dr. Peter Attia The Peter Attia Drive Podcast "Learned Optimism: How to Change Your Mind and Your Life" by Martin E.P. Seligman Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 12 Jun 2023 - 53min - 601 - 440 | Past Failure Does Not Define Future Success | Amy Minkley
In this episode: money against mindset, fear setting, FI events, gap years, slow travel, and living intentionally.
Everyone’s relationship with money is different, just as everyones path to FI looks different, but how do you unlearn behaviors that could be holding you back? This week we are joined by Amy Minkley to discuss how finding FI changed her life while abroad, as well as the the importance of unlearning and breaking free of internalized stress when it comes to money. A large part of the FI journey is implementing new habits and the lessons you pick up along the way. However, an even larger and sometimes harder part of this journey requires you to be introspective and take an honest look at your relationship with money. While you can’t go back and change the past, the beauty of FI is that you learn to make changes to ensure the future you want! No matter what your background, the path to FI is one that benefits everyone, because it not only gives you control of your life, but allows for independence to create the future you desire. So while it may feel comfortable to approach this journey by thinking of all the ways things can go wrong, remember to think of all the ways things can go right!
Amy Minkley:
Website: fifreedomretreats.com Mailing List: Get In Touch With Amy Here!Timestamps:
1:01 - Introduction 4:29 - How Amy Found FI 8:47 - Money Against Mindset 16:24 - Making The Tough But Right Choices For You 22:18 - International Teaching 27:43 - Fear Setting 36:20 - Living Intentionally 42:25 - FI Events 46:56 - Gap Years And Slow Travel 52:19 - ConclusionResources Mentioned In Today’s Episode:
EconoME Conference CampFI Exploring International Teaching Opportunities | Scott & Rob | ChooseFI Ep. 109 "Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence" by Vicki Robin, Joe Dominguez, and Mr Money Mustache The Milestones Of FI | ChooseFI Ep. 32 Camp Mustache Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 05 Jun 2023 - 53min - 600 - 439 | Adjusting to Life After FI (Before You Get There) | Chris Terrell
In this episode: success after FI, finding purpose, owning your time, investing in health, and spiritual pursuits.
While reaching your FI number and subsequently retiring is an amazing achievement in itself, what are you supposed to do with yourself after getting there? Well, figuring that out is also a big step you are going to have to take on your FI journey. This week, we are once again joined by Chris Terrell to discuss the ways you can fill your time after achieving FI, and how to identify what gives you purpose in your post-work life. Earning back your time is only half the battle, putting that time to good use is up to you and you only!
Timestamps:
1:20 – Introduction 3:02 – Success After FI 9:01 – What Do You Want To Do In Retirement? 16:06 – Finding Purpose 22:02 – Prioritizing Important Relationships 27:46 – The Benefits Of Owning Your Time 31:28 – Investing In Your Health 41:24 – Spiritual Pursuits and Volunteer Work 47:09 – Unstructured Time, Calendar Tyranny, and Work? 56:59 – ConclusionResources Mentioned In Today’s Episode:
FI Frugal Hobbies | Chris Terrell | ChooseFI Ep 429 The Happy Philosopher | The Happiest Man In The Room | ChooseFI Ep 49 Financial Samurai The Tail End Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 29 May 2023 - 58min - 599 - 438 | Dollars and Sense | Clint Murphy & Ginger
In this episode: the pain of paying, anchoring, relative value, sunk costs, response to stimulus, and opportunity cost.
On this installment of the Book Club, we are joined by Clint Murphy and Ginger to discuss some of our favorite takeaways from Dan Ariely and Jeff Kreisler's "Dollars and Sense: How We Misthink Money and How to Spend Smarter," We often mention on this podcast the importance of actionable steps you must be willing to take while on the journey to FI, and this book is chalk-full of actionable tips and examples that could possibly be applied to many areas of your life, not just personal finance. While we know that personal finance is not unilateral and there are no correct steps and decisions that ensure success for everyone, we believe this book can help you better understand the decision making processes that goes into taking actionable steps on your FI journey!
Book Club Selection:
"Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dan Ariely and Jeff KreislerTimestamps:
1:21 - Introduction 4:20 - Reducing The Pain Of Paying 11:42 - Anchoring 19:01 - Opportunity Cost and Saying No 25:40 - Relative Value 30:20 - Why We Don't Understand Fairness and Value 38:49 - Sunk Costs 46:31 - Overvaluing What Your Already Have 50:07 - Spreading The Gap Between Stimulus and Response 57:21 - ConclusionResources Mentioned In Today’s Episode:
The Growth Guide Podcast Clint's Twitter: @IAmClintMurphy FI is Fun The Great Man Within "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins "Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions" by Dan Ariely Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 22 May 2023 - 58min - 598 - 437 | Student Loan Forgiveness: Essential Update | Travis Hornsby
This week we are re-joined by friend of the podcast, Travis Hornsby, to discuss some critical updates and deadlines pertaining to student loan forgiveness.
While the thought of paying off student loans can feel daunting, there may actually be some ways to mitigate the stress entirely! Though this episode may not pertain to your situation specifically, we believe it can act as a resource for some you may know, or others on this journey who are looking to potentially have their loans forgiven.
Travis Hornsby:
Website: StudentLoanPlanner.com (link to discounted consult)Timestamps:
1:14 - Introduction/Where Are We Today? 9:45 - Irreversible Decisions 11:55 - The PSLF and IDR Waiver 17:34 - $300 vs $1500 a month 23:30 - Searching and Patience, What Are The Action Steps? 31:33 - ConclusionResources Mentioned In Today’s Episode:
The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Federal Student Aid Book a Consult with The Student Loan Planner (Discount through this link!) Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 15 May 2023 - 32min - 597 - 436 | From Vision Board to Action: A FI Success Story | Rakesh
In this episode: getting comfortable investing, the vision boards, salary negotiations, and the skill of spending
Whether it's wanting to pay off your debts or get yourself set up for your future, there are many motivations for wanting to begin the path towards FI. This week we are joined by listener and fan of the podcast Rakesh to discuss how his journey to FI has been over the last 3 years, and the lessons he’s learned along the way. We often stress on the podcast the importance of bold moves and taking action as an important step to achieving FI, and Rakesh is the embodiment of just that! Everyone on this journey starts from a different place, just as everyone’s long term goals differ, but don’t allow yourself to be bogged down by the little hiccups that come with this journey. By pushing ahead and being mindful of your short and long term goals, you may find yourself stepping out of your comfort zone towards the life you want to be living!
Timestamps:
1:15 - Introduction 4:50 - The Evolution Of The FI Journey 12:52 - Getting Comfortable Investing 22:09 - The Vision Board 30:39 - The Skill Of Spending And Future Planning 37:13 - Low Cost Of Living Areas 43:05 - Salary Negotiating And Job Transitioning 53:11 - The Impact Of Staying Put 56:06 - ConclusionResources Mentioned In Today’s Episode:
Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 "Financial Feminist" By Tori Dunlap Community Building With Mr. Money Mustache And Mr. 1500 | ChooseFI Ep 131 JL Collins "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" by Brian Feroldi Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403 Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 08 May 2023 - 58min - 596 - 435 | Tipped Finance | Barbara Sloan
Oftentimes on our show, we talk to people on the FI journey with “regular” 9-5 jobs, and other times we talk to those who have achieved their FI goal and are able to retire from their careers. However, we rarely talk about money management and FI when it comes to those working in service industries, such as serving and bartending. This week we are joined by author Barbara Sloan to discuss taking control of your finances while in a variable income job, the importance of an emergency fund, and the attainability of retirement accounts and health insurance while in these types of industries. While it may seem unattainable to budget and financially plan for the long term when your income is non-fixed, you shouldn’t count yourself out from this journey! Creating your dream life is possible for all, with the right systems in place to ensure it, that is an option possible for those in all career types.
Barbara Sloan:
Website: tippedfinance.com Book: "Tipped: The life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals"Timestamps:
1:03 - Introduction 2:54 - Sub Minimum Wage And Tipping 14:03 - The Importance Of Tracking 21:06 - Tips, Taxes, and Social Security 35:28 - Strategies For Health Insurance 41:18 - Lifestyle Design/The Financial System 48:44 - Emergency Funds 54:27 - ConclusionResources Mentioned In Today’s Episode:
Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 01 May 2023 - 54min - 595 - 434 | The Transtheoretical Model of Change | Roundup with Ginger
There can be points on the journey to FI where you feel that you may not be able to accomplish your goals, or even take advantage of some of the hacks we talk about on the show. But sometimes all it requires is for you not to limit yourself and just think outside the box. This week we are re-joined by friend of the podcast Ginger to discuss how the transtheoretical model of change can apply to those on the path to FI, as well as read your emails and answer some of your questions on this installment of Round-Up. Oftentimes, we forget how flexible and capable of change we really are, and its life's curveballs that make this journey different for everyone. While setbacks can put you off from pursuing your goals, or make you feel as if you don’t belong on this path, they shouldn’t deter you from attacking your goals. When you can accept that changing and adapting does not equal failure, you not only open yourself up to new options and possibilities, but exceed your own expectations while on the path to FI!
Timestamps:
0:48 - Introduction/Economy Conference 9:43 - Travel Wins 21:23 - Ancillary Travel Rewards Benefits 26:20 - Bold Move Update And The Transtheoretical Model of Change 40:58 - Determining Your FI Number 51:22 - The FI Pre-College Approach 58:11 - Savings Account Interest Rates And Community Win 63:11 - ConclusionResources Mentioned In Today’s Episode:
Fees, Frugality, and 401K Fears | ChooseFI Ep 428 Find Your Local ChooseFI Group CampFI Chautauqua FI Freedom Retreat Learning to Leave | Diania Merriam | ChooseFI Ep 416 Catching Up To FI Bob Sharpe YouTube ChooseFI Travel Rewards Top Recommended Credit Card Offers From Our Partners Todoist Dominick Quartuccio How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238 The $100K Glorified Sleepaway Camp | Millionaire Educator | Ep 386 CIT Bank FI Is Fun Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 24 Apr 2023 - 1h 04min - 594 - 433 | Outside 365
In this episode: the power of outside, overcoming adversity, the value of streaks, building momentum, and van life.
As we’ve discussed many times on our show, creating and maintaining habits are an important part of the FI journey. Not only does it require you to prioritize what you value, but it can lead to success in many areas of your life. However, while we talk about the success that habits can lead to, sometimes we overlook that starting a habit can be stressful or overwhelming. This week we are joined by Gregg from Outside365 to discuss what your life can look like when you align with your habits, and the momentum and value that can be found when you start to prioritize your habits a little bit each day. While it may seem overwhelming at times to start something new, whether it’s saving more and spending less, or even just picking up a new hobby, you may find that the more you do it, the easier it comes! Remember, while you may feel a sense of urgency to instill habits in your life, remember to be patient, and take it a day at a time!
Outside 365
Website: outside365.blogTimestamps:
1:13 – Introduction 7:51 – The Power of Outside 12:53 – Overcoming Adversity 17:02 – Building Momentum 22:46 – Truly Being In Nature 28:52 – Plausible Outside Experiences 33:25 – The Value of Streaks 37:20 – Van Life 47:37 – ConclusionResources Mentioned In Today’s Episode:
Subscribe to The FI Weekly! “The Nature Fix: Why Nature Makes Us Happier, Healthier, and More Creative” by Florence Williams “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear “Four Thousand Weeks: Time Management for Mortals” by Oliver Burkeman “Stolen Focus: Why You Can’t Pay Attention–and How to Think Deeply Again” by Johann Hari Huberman Lab Podcast Dave and Matt VansMore Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 17 Apr 2023 - 49min - 593 - 432 | The Skill of Spending | Mr. Money Mustache
In this episode: tackling the big issues, the everywhere effect, change and discomfort, and getting the most from what you have.
On this Podcast in recent months, we have made a point to highlight the fact that FI isn't about deprivation. While we do think making a few cuts in some areas is a good thing, we believe in that idea because it acts as a means to an end, with the endpoint being living the most fulfilling life available to you. So how is it possible deprive ourselves in a manner that doesn't leave us feeling deprived? Well, we have to skill up out our spending abilities.! This week we have Mr. Money Mustache on the podcast to discuss the skill of spending and how to approach utilizing your resources to ensure your own happiness and wellbeing. Make cuts in your life where there us a lack of purpose so you can level up areas of importance and passion!
Mr. Money Mustache:
Website: mrmoneymustache.comTimestamps:
0:51 - Introdcution 4:15 - The Power Of Spending With Less Income 9:24 - Tackling The Big Issues First 17:06 - Change and Discomfort 19:55 - The Everywhere Effect 28:06 - The Power Of Community 31:45 - Getting The Most From What You Have 40:23 - Cost VS Comfort, Wheres The Line? 45:34 - Early Cutting Is Essential 50:53 - ConclusionResources Mentioned In Today’s Episode:
Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s The Shockingly Simple Math Behind Early Retirement How to Go from Middle-Class to Kickass Outside365 The California Effect Afford Anything With Paula Pant FIRE Dating "Die With Zero" By Bill Perkins Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 10 Apr 2023 - 52min - 592 - 431 | Evolution of FI | Mad Fientist
In this episode: forming habits, fulfilling goals, routines, the importance of health, restriction without deprivation, and working on life.
While beginning your FI journey means having goals and taking necessary steps to achieve them, it may seem like you have to approach your life with discipline and absolute structure when it comes to money matters. While setting yourself up for success on this journey does mean creating different habits in regards to spending or investing, these habits should never seem absolute or deprive you from enjoying your life. This week we are joined by the Mad Fi-entist to discuss the evolution and the necessary changes he has made while on the journey to FI, and the beauty found with having a routine and creating meaningful habits. FI is a journey that requires you to experiment and change as the journey progresses. Not only will you learn about yourself on this journey, but you will pick up and exchange old habits for new ones that better suit the life you want to be living. Remember that while discipline is necessary for this journey, that does not mean you can’t evolve and change up your routine for the better!
The Mad Fientist:
Website: madfientist.com Podcast: Financial Independence Podcast Album: Find The Album Here! Twitter: @madfientistTimestamps:
0:57 - Introduction 3:25 - Fulfilling Goals And Forming Habits 10:16 - Routine 15:25 - The Importance of Health 23:01 - The Evolution Of FI For Us 31:34 - The Skill Of Spending 40:15 - Working On Life 52:17 - Restriction Without Total Deprivation 61:35 - ConclusionResources Mentioned In Today’s Episode:
"Ultralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career" by Scott Young and James Clear "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear Money With Katie "Die With Zero: Getting All You Can from Your Money and Your Life By Bill Perkins Mint Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 03 Apr 2023 - 1h 03min - 591 - 430 | Mindset, Financial Independence, and Real Estate | The FI Couple
In this episode: early financial conversations, what you truly value, house hacking, and the psychology of FI.
It can be scary to have to acknowledge the reality of your financial situation, especially if you feel you do not have the financial literacy to proceed with confidence. However, setbacks and failures can often be blessings in disguise. This week we are joined by The FI Couple to discuss the importance of perseverance and flexibility in the face of uncertainty, as well as the strength that can come from a united front. The journey to FI is deeply nuanced, and never perfect. While you may find yourself wanting to make your journey as optimal and expedited as you can, we know that life sometimes happens and your journey can be far from perfect. However, sometimes when we find ourselves at “rock bottom” and it seems like everything in our world is against us. Rather than feel defeated, allow the setbacks to act as momentum to charge ahead as you re-align and re-adjust!
The FI Couple:
Website: theficouple.com Socials: @theficoupleTimestamps:
0:49 - Introduction/The Early Days 2:05 - Early Financial Conversations 11:03 - Discovering What You Truly Value 21:28 - Bouncing Back After A Layoff 26:06 - Entrepreneurship 30:10 - House Hacking 38:34 - The Off Market/Solving Problems 43:13 - The Single Family Home/The Psychology Of FI 48:29 - The Season Of Hustle 51:56 - ConclusionResources Mentioned In Today’s Episode:
Dominick Quartuccio Scott Trench Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 27 Mar 2023 - 53min - 590 - 429 | FI Frugal Hobbies | Chris Terrell
In this episode: finding your why, creating space, deprivation, board games, lesson learning, and decision making.
Whether you’re years into your FI journey or just beginning, evaluating your finances and spending, you may feel like you have to make some cuts into your favorite hobbies in order to reach your goal quicker. However, deprivation and cutting out the things that bring enjoyment into your life should never be the only option. This week we are joined by friend of the podcast Chris Terell to talk frugal hobbies, new experiences, and the parallels between strategies in board games and the strategies employed while on the journey to FI. While trying to optimize your experiences may mean changing hobbies and evolving, while doing so you may find new enjoyment, new communities, and values that come with these changes. Not everyone may have the same approach to a game, just as not everyone will have the same approach to achieving FI, but as long as you remember that being open to changes will allow you to not only optimize your experiences on that journey but optimize your FI.
Timestamps:
1:14 - Introduction 3:02 - FI And Pickleball 7:54 - Finding Your Why 12:50 - Happiness Is How You Fill Your Time 18:40 - It's Not About Deprivation 25:28 - Creating Space 35:46 - Strategy Board Games And Why They Are Great 45:54 - Strategy Boards Games, Decision Making, And Life 54:38 - The Top Four Concepts Of Strategy Board Games 72:58 - Starting Strategy Board Games 82:28 - ConclusionResources Mentioned In Today’s Episode:
Mr Money Mustache The Motley Fool Board Game Geek Board Game Arena Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 20 Mar 2023 - 1h 24min - 589 - 428 | Fees, Frugality, and 401K Fears
In this episode: personal investments, 401k contributions, FI is for everyone, travel rewards, task management, and taxes.
On what is considered a very personal journey, how do you handle changes that feel like setbacks? Whether its spending more when you feel you should be saving, or re-evaluating goals based on what needs immediate attention, do you feel equipped to handle it with confidence? This week we are having a weekly roundup, and are re-joined by Ginger to not only answer listener’s questions, but discuss travel rewards, retirement accounts, and breaking away from the ultra frugal caricature often depicted alongside FI. While saving is an important factor on this journey, the main purpose of FI is to learn and live your life with intention as it relates to your money, goals, and values. Remember that it’s okay if some of your goals and values will change along the way! Allowing yourself to be flexible as it relates to external factors, like market volatility and your investments, will give you more power and control to continue ahead with confidence and optimism!
Timestamps:
1:04 - Introduction 3:31 - FI Is For Everyone 9:16 - Personal Investments 14:08 - Paying For Experiences 19:09 - An Introduction To FI 28:20 - Task Management 35:19 - Travel Rewards 47:06 - 401k Contribution Question 61:00 - Tax Season Hack 68:51 - The Content We Are Consuming 75:28 - ConclusionResources Mentioned In Today’s Episode:
Four Thousand Weeks | ChooseFI Book Club | ChooseFI Ep 415 "Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dr Dan Ariely and Jeff Kreisler "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Peter Attia Drive All The Hacks Taking Stock of Your Life | Jordan Grumet | ChooseFI Ep 390 Playing With FIRE Todoist Tim Ferriss Huberman Lab My First Million ChooseFI Travel Rewards Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 A Guided Meditation for When the Stock Market Is Dropping Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18 "A Deadly Education" by Naomi Novik "The Premonition: A Pandemic Story" by Michael Lewis "The New New Thing: A Silicon Valley Story" by Michael Lewis "The Undoing Project: A Friendship That Changed Our Minds" by Michael Lewis Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 13 Mar 2023 - 1h 13min - 588 - 427 | Drawdown Strategies: Karsten vs. Fritz
In this episode: the "average" withdrawal, Karsten's strategy, Fritz's strategy, fixed withdrawal rates, the bucket strategy, and refilling.
Preparing for retirement can look different for all on the journey to FI. All of our goals differ, but we are still in the mindset of positioning ourselves for the coming years. This week we are having a face-off between returning guests Karsten and Fritz, as they discuss their own receptive drawdown strategies, their advantages, and how you can best prepare yourself mentally and financially for your retirement. While a large part of preparing for retirement means saving, that does not mean you should be afraid to spend. Even in retirement, there are strategies that can allow you to not only spend comfortably within your means, but also spend confidently!
Fritz & Karsten:
Fritz's Website: theretirementmanifesto.com Karsten's Website: earlyretirementnow.comTimestamps:
1:35 - Introcution 2:09 - Karsten's Strategy 6:05 - Fritz's Strategy 13:28 - Fixed Withdrawal Rates 18:08 - Your Retirement Spending Mentality 23:01 - The Source Of The Bucket Strategy Debate 30:46 - Refilling The Buckets 40:40 - The Cheap Gimmick 45:13 - The Importance Of Rebalancing 51:03 - The Key Takeaways/The "Average" Withdrawal 59:06 - ConclusionResources Mentioned In Today’s Episode:
Our Retirement Investment Drawdown Strategy The Tail End "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins How to Calculate Your Safe Withdrawal Rate without using Simulations Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 06 Mar 2023 - 1h 00min - 587 - 426 | What to do with $2.5 Million & Real Estate Update | Scott Trench
In this episode: the 2.5 million dollar inversion, looking at the incentives, interest rates, your biggest asset, and potshots.
When you begin your FI journey, you may feel like you must follow a certain path or plan in order to achieve your desired outcome. However, the longer you are this journey the more you realize that it is a personal one that requires adaptability when so many factors can affect your bottom line. This week we are back with Scott Trench from BiggerPockets as he shares his insights on investing and looking at your portfolio from an “outset” perspective, as well as touch on the shape of the real estate market. It is important to remember that there is a lot of push and pull on this journey, and it is not meant to be perfect. While you may have expectations for your portfolio and your long term plans, there will be times where you will have to make tradeoffs. Just as the markets change and may signal uncertainties to come, remember that flexibility while maintaining your long term goals will allow you to feel more equipped to move through these times.
Scott Trench:
Website: BiggerPockets Podcast: The BiggerPockets Money Podcast Instagram: @scott_trenchTimestamps:
0:57 - Introduction 2:05 - The 2.5 Million Dollar Inversion 8:52 - Always Look At The Incentives 12:49 - The Traditional Path To FI And PotShots 17:45 - Your Biggest Asset/Should You Be Inefficient? 25:52 - Executing The Concept 31:12 - The Impact Of Interest Rates Today 42:21 - The Commercial Impact 52:10 - Buying Properties With Cash 56:21 - ConclusionResources Mentioned In Today’s Episode:
Scott Trench | Set For Life | ChooseFI Ep 63 First-Time Home Buyer | BiggerPockets | ChooseFI Ep 312 "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s BiggerPockets Rental Property Calculator Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 27 Feb 2023 - 54min - 586 - 425 | Turning the Tables on Brad
In this episode: the value of time, what are you optimizing for, bold moves, increasing your kid's odds for success, and balancing deprivation.
Because we have put so many leaders, members, and experts in our community on the hot seat here at ChooseFI, we figured it was finally time we played fair and put Brad on the hot seat himself! With the assistance of Aaron Lee, a longtime listener, friend, and host of "The Next Generation Leader Podcast," we ask Brad all the burning questions related to his FI journey. If you've ever been curious how Brad discovered FI, what led Brad to begin his FI journey, or what lessons Brad learned along the way, listen along as we re-live the path that helped form this amazing community!
Aaron Lee:
Website: newgenerationleader.com Podcast: The New Generation Leader PodcastTimestamps:
1:10 - Introduction 3:12 - The Value of Time 8:18 - Balancing Deprivation And The Burden Of FI 11:31 - Brad's Snowball Starter 16:13 - Brad's Childhood FI Vision 22:31 - What Are You Optimizing For? 28:45 - Helping Your Kids Increase Their Odds For Success 40:27 - All Of Us Are Working On Something 46:08 - Brads Bold Move Update 54:40 - What Else Fascinates Brad? 59:29 - ConclusionResources Mentioned In Today’s Episode:
Year End Wins 2022 | ChooseFI Ep 417 "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Peter Attia Drive, Episode #237 ‒ Optimizing life for maximum fulfillment | Bill Perkins All The Hacks | Die With Zero: Net Fulfillment Over Net Worth The Tail End "David and Goliath: Underdogs, Misfits, and the Art of Battling Giants" by Malcolm Gladwell Berkshire Hathaway Shareholder Letters Your Bold Move for 2023 | Dominick Quartuccio | Ep 419 Limitless Peter Attia & Beth Lewis on Dynamic Neuromuscular Stabilization (DNS) Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 20 Feb 2023 - 59min - 585 - 424 | The Power of FI | Deanna
In this episode: budgeting, the power of FI, different funds, living in the present, and the power to make your choices.
No matter your background or the hardships you’ve endured, you should never rule yourself out for success! Ruminating over your past mistakes can make you feel undeserving of the life you want, but those same mistakes can actually serve as motivation to propel you further on your journey! This week we are joined by returning guest Deanna to discuss how her FI journey has progressed in the last 4 years, the freedom and power she gained from budgeting, and an update on her journey of overcoming adversity. Just because you feel you’ve hit a rock bottom doesn’t mean this journey isn’t for you. A large part of FI is making mistakes, learning, and changing. An even larger part of this journey is learning to forgive yourself and others and continue on! For those who do not think they are capable of achieving FI because of their past, let Deanna and this episode serve as an example of what this journey can look like when you act with forgiveness and intentionality!
Timestamps:
1:35 - Introduction 2:16 - Deanna's Backstory 6:26 - Dave Ramsey and Budgeting 14:16 - The Emergency Fund 17:30 - Different Funds For Different Things 23:35 - The Power of FI 27:12 - It's Not All Unicorns And Rainbows 30:28 - Broken Vessels Made Whole 34:42 - Chronic Stress and Living In The Present 43:36 - Deanna Today 48:10 - The Freedom To Make Your Own Decisions 51:54 - ConclusionResources Mentioned In Today’s Episode:
From Addiction To FI | Ms. Fiology | ChooseFI Ep. 106 "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" by J.L. Collins and Mr. Money Mustache The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal | ChooseFI Ep. 66 "The Body Keeps the Score: Brain, Mind, and Body in the Healing of Trauma" by Bessel van der Kolk M.D. "Brain Rules: 12 Principles for Surviving and Thriving at Work, Home, and School" by John Medina "Forgive for Good: A Proven Prescription for Health and Happiness" by Frederic Luskin The Art of Forgiveness Todoist Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 13 Feb 2023 - 53min - 584 - 423 | What Are You Optimizing For? | Chris Hutchins
In this episode: what sparks goals, what are you optimizing you, valuing your time, and money prioritization.
Sometimes on the journey to FI, we ask ourselves the following; do I really need to spend money on this? Do I really have the time and resources for that? These questions may be easy to dismiss by saying no in order to stay on track with your financial goals, but by dismissing them, you could be missing out on something that is beneficial to your personal journey! This week we are joined by friend of the podcast, Chris Hutchins, to talk about the hacks for optimizing your life, the differences between cheapness and frugality, and the importance of valuing your time and what it can lead to. Saving money is an important part of achieving FI, but you should never feel so restricted that you miss out on investing your time and money in things that bring joy and value into your life. While saving is important, it’s okay to spend money. Whether it’s on a trip or investing in something new, there are ways to make it work without feeling guilt or shame. Prioritizing and valuing your time can introduce new experiences and provide happiness as well as perspective while on this journey!
Chris Hutchins:
Website: allthehacks.com Podcast: All The HacksTimestamps:
2:27 - Introductions 6:12 - Full Time Podcasting 11:44 - What Sparks Our Goals 18:35 - What Are You Optimizing For? 23:36 - Managing Your Own Money 31:28 - Money Prioritization 39:03 - Valuing Time 50:53 - Real Estate Investing And Complexity 58:23 - The Once A Year Review 65:28 - Prioritizing Health 75:23 - ConclusionResources Mentioned In Today’s Episode:
feedback@choosefi.com Die With Zero: Net Fulfillment Over Net Worth | All The Hacks Buy Back Your Time: Get Unstuck, Increase Productivity and Live the Life You Want | All The Hacks Playing With FIRE The Drive With Peter Attia Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419 Top Ways to Make This Year Amazing and Seven Simple Questions for Your Annual Review | All The Hacks My First Million Using an Investing Checklist to Improve your Portfolio | All The Hacks Paprika Delete Me Kubera Fancy Hands Eat Healthy and Save Money with the Laura Barrett Cookbook The 1% Rule in Real Estate: Is This a Realistic Way to Evaluate Rentals? House FIRE | ChooseFI Ep 414 Rocket Money Todoist Trustworthy Peter Attia DNS Huberman Lab Podcast Optimizing Your Health: Diagnostic Tests, Choosing a Doctor, Sleep, Longevity, Inflammation and More | All The Hacks Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 06 Feb 2023 - 1h 17min - 583 - 422 | Lessons From a Young Entrepreneur
In this episode: taking the unconventional path, the price of time, early entrepreneurship, talent stacking, and the pursuit of learning.
At least once in most of our FI journeys, we have pondered what our life would look like if we started earlier. Maybe you have even wondered what value could've been gained if you had started in your teenage years. Well, for some context into the possibilities decision that could provide, we decided to have 17 year old listener Devin on the podcast to discuss what life can look like when you go against the cultural norm of going to college, and instead opting for an entrepreneurial and FI friendly lifestyle. Oftentimes we mention that there are rewards that come with stepping out of your comfort zone, and the same can be said for going against the societal norm and carving out your own path! For our younger audience who may be interested in getting started with their FI journey, let this episode be a useful resource and reassurance that this journey can begin no matter your age!
Timestamps:
1:55 - Introduction 5:28 - Taking The Unconventional Path 11:58 - The Cost Of Time 16:36 - Early Entrepreneurship 30:45 - Building The Talent Stack And Real Estate Investing 36:56 - The Pursuit Of Learning 45:18 - Saving And Investing 51:53 - Early Retirement Planning 69:49 - ConclusionResources Mentioned In Today’s Episode:
Raising Voyagers TalentStacker House Hacking With Coach Carson | ChooseFI Ep 16 My First Million Podcast Dominick Quartuccio M1 Finance Review 2022: Commission-Free Automated Investing For Everyone "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins How And Why To Set Up A Roth IRA Conversion Ladder | ChooseFI Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18 "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" by Brian Feroldi Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 30 Jan 2023 - 1h 11min - 582 - 421 | Secure Act 2.0 Deep Dive | Sean Mullaney
In this episode: taxes, the secure act 2.0, the best news, roths, 529's, catch-up contributions, and the new options you have.
On December 29th 2022, Joe Biden signed into law the Secure 2.0 Act. As this law may have ramifications on your retirement tax planning, to stay ahead of the curve we decided to have The FI Tax Guy Sean Mullaney back on the show to discuss what this law is and ways one may be able to approach and utilize it going forward with there retirement planning. While laws and regulations may change, staying prepared and aware can keep us worry free as we prepare for the tail end of our FI journey!
The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual.
Sean Mullaney:
Website: fitaxguy.com Book: "Solo 401k: The Solopreneur’s Retirement Account" Twitter: @SeanMoneyandTaxTimestamps:
1:25 - Introduction 2:55 - The Most Important Change and The Best News 14:19 - More Roth Options 27:05 - The Backdoor Roths And Catch-Up Contributions 31:46 - New Options For 529's 42:27 - ConclusionResources Mentioned In Today's Episode:
Secure 2.0 and The FI Community Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 23 Jan 2023 - 43min - 581 - 420 | Mindful FIRE | Adam Coelho
In this episode: mindfulness, removing judgement, thoughts creating reality, envisioning, awareness, and the hot seat.
Oftentimes on our show we like to remind listeners that achieving FI isn’t an end all be all to one’s problems, and that reaching financial independence doesn’t automatically equate to happiness. An important part of the journey is the work you do inward along the way, and this week we are tackling what that can look like. This week we are joined by coach and host of Mindful Fire podcast, Adam Coelho, to discuss the important link between mindfulness and FI, and the power our brains have to envision the life we want, and put dreams into action. Taking the time to be aware of how you’re thinking and feeling can be an effective tool. It will not only keep you centered, but allow for you to be open to experiences you might not have thought were achievable. So whether you are familiar with mindfulness practices or are curious where to begin, allow this episode to serve as a resource to begin or strengthen your practice!
Adam Coelho:
Podcast: mindfulfire.org MindfulFIRE.org/choosefi : Adam's Free Guide with takeaways, a short guided meditation and Adam's envisioning guideTimestamps:
1:56 - Introduction 4:33 -The Definition Of Mindfulness/Removing Judgement 12:08 - Your Thoughts Create Your Reality 19:08 - Gateways To Meditation/Awareness 27:56 - The Science Of Mindfulness 35:50 - Envisioning 40:25 - It's Not Out There, It's In Here 49:27 - Mindfulness And FI 52:44 - Adam's Google Story 58:21 - Adam Takes The Hot Seat 76:06 - ConclusionResources Mentioned In Today’s Episode:
Headspace Yoga Nidra Atomic Habits | James Clear | ChooseFI Ep. 157 "Atomic Habits" by James Clear Calm Insight Timer Playing With FIRE Documentary "Altered Traits: Science Reveals How Meditation Changes Your Mind, Brain, and Body" by Daniel Goleman and Richard Davidson "Peak Mind: Find Your Focus, Own Your Attention, Invest 12 Minutes a Day" by Amishi P Jha Mark Divine All The Hacks "Die with Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Alchemized Life| Jordan Harbinger: How to Build a Podcast | Episode 19 "The Predicting Brain" by Regina Pally The Tail End Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 16 Jan 2023 - 1h 17min - 580 - 419 | Your Bold Move for 2023 | Dominick Quartuccio
In this episode: bold moves, building bold moves, dreams, themes, uncomfortable awareness, and finding energy.
For most people, a new year can signify new goals that we hope to accomplish. Regardless of where you are on the FI journey, the new year ushers in a time for change and welcomes the opportunity to learn and grow! In this episode we are re-joined by Dominick Quartuccio to discuss navigating new beginnings and designing your “Bold Move” as we enter the new year. Instead of having a new year’s resolution which may remind you of what you didn’t accomplish the year before, try making a bold move that can act as a quantifiable metric for designing the life you want to live! The journey to FI is filled with ebbs and flows, and with that comes lessons that allow you to grow and learn as you find your way towards the life you want to live!
Dominick Quartuccio:
Website: thegreatmanwithin.com Course: The Bold Move Masterclass: Use Code CHOOSEFI For 50% Off Podcast: The Great Man Within Book: "Design Your Future: 3 Simple Steps to Stop Drifting and Start Living"Timestamps:
1:21 - Introduction 7:20 - Quiet Desperation And Community 14:32 - The Bold Move 22:28 - Building A Bold Move 30:32 - Increasing Your Luck Surface Area And What Gives You Energy 33:50 - Finding Your Theme And Dream 39:28 - Uncomfortable Awareness And The Turbulence Of Life 47:19 - What You Want Will Reveal Itself, Eventually 56:27 - Using Bold Moves To Identify Dreams 59:04 - ConclusionResources Mentioned In Today’s Episode:
Find Your Local ChooseFI Group "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" by Tim Ferriss "Outwitting the Devil: The Secrets to Freedom and Success" by Napoleon Hill "The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life" by Mark Manson "Man's Search for Meaning" by Viktor Frankl "Never Eat Alone, Expanded and Updated: And Other Secrets to Success, One Relationship at a Time" by Keith Ferrazzi and Tahl Raz John Olsen YouTube Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 09 Jan 2023 - 1h 02min - 579 - 418 | Investing Lessons Learned in 2022 | Brian Feroldi
In this episode: the federal reserve, interest rates, buying the hype, the problems with effortless earning, and narrative follows price.
It’s suffice to say this past year has been one of distinct changes from a financial perspective, with investment techniques and former practices no longer working the same as they did two years ago. However, there is much to be learned and a lot to be gained as we move forward into 2023. This week we are re-joined by a friend of the show Brian Feroldi to discuss his observations on the market changes, and lessons he learned over the course of 2022. Settle into the new year and tune in as we share our thoughts on the macro impact of the federal reserve, psychology of investing, inflation and interest as it relates to different kinds of assets, and so much more!
Brian Feroldi:
Website: brianferoldi.com Twitter: @brianferoldi Course: Financial Statements Explained Simply Book: "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren’t" By Brian FeroldiTimestamps:
1:46 - Introduction 6:51 - The Federal Reserve/Interest Rates 15:03 - Inflation Is Still Here 17:21 - Beware Of Effortless Money 24:14 - The State Of Crypto/Buying The Hype 33:48 - Is Cash Still Trash? 36:13 - Bonds Are Worth Consideration 39:25 - Growth Stock Troubles 46:31 - Narrative Follows Price 52:56 - Your Risk Level Is Revealed 56:09 - ConclusionResources Mentioned In Today's Episode:
The Motley Fool The Simple Path to Wealth | JL Collins | ChooseFI Ep 411 Early Retirement Now The Role Of Bonds In A Portfolio | ChooseFI Ep 194 Subscribe to The FI Weekly!More Helpful Links And Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 02 Jan 2023 - 58min - 578 - 417 | Year End Wins 2022
Happy Holidays! As the year's end approaches, it's only natural to look back and think of all that you’ve accomplished. Whether you just began your FI journey this year or are well on your way, recognizing the improvements you’ve made throughout the year is essential and worth celebrating! This episode is our 6th annual year-end wins episode, and we are re-joined by MK Williams to listen and read submissions from our listeners and celebrate the progress of our audience through different stages of their FI journeys! This episode is meant to not only inspire but remind us how personal this journey is, and remind you to take some time and reflect on the progress you have made this year. Celebrate the wins of your own, no matter how big or small!
Timestamps:
1:27 - Introductions 3:43 - Adrianna's Wins 6:00 - David's Wins And The Post-It Note 9:48 - Will and Abby's Wins And Retirement Accounts 13:45 - Melissa Devon, and Brittany's Wins, Traveling And Saving 16:40 - Dominic and Leila's Wins, Stacking Accounts And Side Hustles 20:35 - Erica's Wins And Leveling Up In Life 24:11 - Justin's Wins And Financial Wellbeing 27:41 - Kristen's Wins And Paying Off The Mortgage 30:38 - Tommy's Wins And Changing Careers 33:24 - Wes And Sarah's Wins, Erasing Debt And Job Upgrades 35:50 - Lindsey's Wins, Travel Rewards And 2-Player Mode 38:18 - Tom and Danielle's Wins, Taking Action And Paying Off Student Loans 40:00 - Kelly's Wins, Budgetting And Communities 42:41 - Yvette's Wins And Making FI Do-Able 44:42 - Dennis' Wins And From Student Loan's To Disney World 47:00 - Valerie's Wins And Dumbfounding The Experts 48:56 - Dilyara's Wins And Crushing Early Stage FI 51:19 - Lauren's Wins And Doing The Legwork 56:28 - ConclusionResources Mentioned In Today’s Episode:
"Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Bryce Leung and Kristy Shen From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297 Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022) Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 26 Dec 2022 - 57min - 577 - 416 | Learning to Leave | Diania Merriam
In this episode: using your resources to create change, your employer is your customer, identifying discrimination, and abundance mindsets.
For some on the journey to FI, it may seem like you must at all cost continuously strive to meet your monetary goal as quickly as possible. However, staying in toxic and unfulfilling work environments to hold the course with your goal is not what this journey is about. This week we are re-joined by Diania Merriam to have an intimate conversation about leaving a toxic work environment, navigating internalized beliefs, and the power and control gained while on the journey to FI. The greatest part of this journey is not only the earning and having more financial resources, but rather learning that your money is a tool you can use to reclaim your time! Remember, striving for FI is never about deprivation or devaluing yourself, nor does it mean tolerating poor treatment in order to stay on track!
Diania Merriam:
Website: EconoME Conference (Promo Code "CHOOSEFI") Podcast: Optimal Finance DailyTimestamps:
2:00 - Introduction 4:25 - The Resignation 15:46 - Identifying Discrimination 25:07 - Culture Shifts And Subtleties 30:10 - Using Your Resources To Create Change 33:12 - Allowing Your Money To Protect You And Coast FI 40:28 - Operating From An Abundance Mindset 48:57 - Your Employer Is Your Customer 54:20 - Shifting From Saving To Covering Expenses 62:30 - EconoME Conference 66:56 - ConclusionResources Mentioned In Today’s Episode:
What I've Learned From One Year Of "Fun-Employment" - Diania Merriam The Reality Of Leaving A Toxic Work Enviornment - Diania Merrian Accountability | Diania Merriam | ChooseFI Ep 150 Myths and Misconceptions | Diania Merriam | ChooseFI Ep 306 Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 19 Dec 2022 - 1h 08min - 576 - 415 | Four Thousand Weeks | ChooseFI Book Club
In this episode: slowing down, stoicism, finding something to neglect on purpose, focusing on the present, flow states, and actionable steps.
Throughout the history of this podcast we have had many guests discuss books that have offered great advice and education to them on the Journey to FI, and with the large selection to choose from we can't think of a better time to start working down the list! On today’s episode we are joined by Josue and Ginger in our new series The Choose FI Book Club. This week, we’ll be sharing our thoughts and takeaways from the book "4,000 Weeks: Time Management for Mortals" by Oliver Burkeman, as well as share some opinions on the book from our listeners who shared their opinions with us! While many of us on the Journey to FI feel that this lifestyle can be very future-driven, it can be overwhelming to want to accomplish so much with only so much time. This book reminds us that time is finite, and you can’t spend it worrying about what you have or haven't yet accomplished. Instead, it may be best to live in the present and appreciate the day to day as it relates to your journey. Having a timeline and working towards the finish line is part of the journey, but remember that the decisions you are making in your life and the experiences that come with it are just as important as the end result!
Book Club Selection:
"Four Thousand Weeks: Time Management for Mortals" by Oliver BurkemanTimestamps:
1:48 - Introduction 2:41 - The Concept Of Reading And Retaining 6:23 - Slowing Down And Focusing On What's Important 10:20 - Stephanie's Observation 18:53 - Amy's Observation And Stoicism 23:52 - You Can't Do Everything And CJ's Observation 30:29 - Choosing Something To Neglect On Purpose 33:34 - Shelleys Voicemail And Finding Time To Spend With Others 39:42 - Josh's Voicemail And Planning For The Future While Not Forgetting The Present 46:31 - Flow States 50:27 - Gayle's Perspective And Criticism Counterpoints 57:45 - The Action Steps Taken By YOU 61:47 - Our Actionable Steps 65:34 - ConclusionResources Mentioned In Today’s Episode:
18 Months of Massive Action | Josue | ChooseFI Ep 406 The Imperfectionist The Mad Fientist "Outwitting the Devil: The Secrets to Freedom and Success" by Napoleon Hill The Great Man Within "Finding Flow: The Psychology of Engagement with Everyday Life" by Mihaly Csikszentmihalyi "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins "A Complaint Free World: How to Stop Complaining and Start Enjoying the Life You Always Wanted" by Will Bowen Ginger's Blog "FI Is Fun" Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceFri, 16 Dec 2022 - 1h 07min - 575 - 414 | House FIRE | Alan Corey
In this episode: the value of a door, the hour FIRE method, tax breaks, focusing on income, and return on hassle.
Many of our listeners have tuned in to hear our guests discuss the real estate market, mortgages, and taxes as it relates to obtaining property. However, many of us on the road to FI may not realize how scaling the properties you own can actually act as a mutual fund-like portfolio. On this week’s episode we are joined by our new in-house real estate expert, author, and podcaster, Alan Corey. Alan sheds light towards what expanding your real estate portfolio can look like from from a larger standpoint, and how approaching investment from a spreadsheet rather than lifestyle point of view can ultimately offer greater returns in the long run. While we know many listeners may be apprehensive to consider investing in multiple or larger real estate properties, or how this may not seem like a feasible option, this episode is available to you to educate and offer the mental framework on how to approach real estate in a way that it can be achievable!
Alan Corey:
Website: realestatemaxi.com Podcast: Real Estate Maximalist Book: House FIRE: How to Be a Red–Hot Real Estate Millionaire with a Wealth of Time and MoneyTimestamps:
1:57 - Introduction 2:48 - The Value Of A "Door" And The Business Behind It 8:21 - Navigating The Sea Of Options 16:35 - Reducing Vacancy Impact/Maximizing Potential 23:37 - Tax Breaks 29:54 - The House FIRE Method 39:33 - Focusing On Income 49:59 - Selling 50 Doors 61:19 - Return On Hassle/Million Dollar Value Properties 67:50 - ConclusionResources Mentioned In Today’s Episode:
"A Million Bucks by 30" by Alan Corey Coach Carson Paula Pant Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 12 Dec 2022 - 1h 09min - 574 - 413 | Mental Wealth & Healing | Rich Jones
In this episode: success on paper, building the life you want, therapy, craving progression, and what leads to change.
When beginning and well into your FI journey, it may seem like reaching and achieving your end goal of financial independence will somehow leave you feeling happier and more fulfilled. However, reaching this end goal doesn’t automatically solve all your problems. On this week’s episode we are joined by founder of FindMoreBalance.com and host of "The Mental Wealth Show" Rich Jones to have a conversation about mental health, rebuilding mindset and behaviors, and importance of finding your network of support in life. The FI journey is a great one because it allows you to introduce changes into your life, and no matter how big or different the changes are, they are still significant! The best part of this journey is that it is a personal one, so try to remember that! While the end goal may be reaching a monetary number, it is also about rebuilding and progressing into the person you want to be in all areas of life!
Rich Jones:
Website: richrunstrack.com Podcast: The Mental Wealth Show Instagram: @richrunstrack LinkedIn: Rich JonesTimestamps:
4:12 - Introduction 5:36 - Success On Paper 12:31 - The Inflection Point, What Made You Change? 16:14 - Therapy 20:54 - Re-Finding The Person You Want To Be 27:38 - Craving Progress And Mastery 35:11 - Rebuilding Your Day-To-Day Life 43:50 - Leveraging Your Career To Get More From Life 52:21 - ConclusionResources Mentioned In Today’s Episode:
LeaveUs A Voicemail For Your Year End Wins The Top Chase Business Credit Cards for 2022 Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403 The Tail End Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 05 Dec 2022 - 51min - 573 - 412 | What's In Your Index Fund? | Katie & Alan Donegan
In this episode; global funds, it's not doctrine, index funds, VTSAX, what is in index funds, and the opposite of active investing.
If you've been in the FI community for a while now, you've probably at one point have heard of index Funds. However, whether you are familiar with this concept of investing, have invested in index funds, or are unfamiliar entirely, you may not necessarily know the mechanics and specifics of what certain types of index funds can actually do for you on your FI journey. This week we are rejoined by Alan and Katie Donegan, co-founders of The Rebel Finance School, to dive into the topic of index funds. Together, we discuss the differences between certain types of index funds, fee structures and returns, self-regulating funds, as well as break-down the benefits of what certain types of index funds can provide for you regardless of market and economic fluctuations! While we are not giving direct financial advice on what invest in, this week’s episode is meant as a resource to our listeners who may be curious to learn more about index funds and passive investing!
Katie & Alan Donegan:
Website: alandonegan.com Podcast: alandonegan.com/podcast Rebel Finance School: www.alandonegan.com/rebelfinance VTSAX Breakdown: alandonegan.com/vtsaxTimestamps:
4:11 - Introductions 5:13 - What Is In Index Funds 11:19 - Global Funds 21:54 - It's Not Doctrine, Don't Get Bogged Down In The Details 25:50 - Am I Getting What I Want When I Invest? Should I Be Concerned? 35:14 - The Opposite Of An Active Investor 45:09 - Is Cap-Weighting The Only Way To Run Index Funds? 52:50 - Is There A Future Where Passive Investing Isn't A Good Option? 57:46 - ConclusionResources Mentioned In Today’s Episode:
Leave A Voice Message Of Your Year End Wins The Top Chase Business Credit Cards for 2022 The Simple Path to Wealth | JL Collins | ChooseFI Ep 411 Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceFri, 02 Dec 2022 - 58min - 572 - 411 | The Simple Path to Wealth | JL Collins
In this episode: VTSAX funds, bonds, cap-weighted funds, finding your ballasts, staying the course, and the simple path to wealth.
This week, we are getting back to the basics! While many of you who have been in the FI community for a while now have definitely heard of JL Collins, those who are new should absolutely be prepared to absorb the wealth of information he provides every time he decides to grace our podcast! Listen along as he and Brad review the basic information that can put you on the simple path to wealth that so many in the FI community have walked! Believe it or not, creating wealth for yourself can be simple!
JL Collins:
Website: jlcollinsnh.com Book: The Simple Path to Wealth: Your road map to financial independence and a rich, free life Chautauqua: Get Information About Chautauqua Here!Timestamps:
1:46 - Introduction 2:40 - Back To Basics, What Is The Simple Path To Wealth 10:15 - Low-Cost Funds And High-Cost Funds 14:56 - Index Funds Are For Lazy People (Just Kidding!) 20:00 - Is It VTSAX Or Nothing? 26:58 - Cap-Weighted Funds 30:53 - Staying The Course 36:32 - Are There Times When Index Funds Aren't A Good Choice? 42:28 - The Highest Likelihood Of Replicable Success 46:38 - Bonds 51:36 - Rising Rates 55:17 - I-Bonds 58:22 - Finding Your Ballasts 64:55 - ConclusionResources Mentioned In Today’s Episode:
JL Collins from jlcollinsnh | The Stock Series | Part 1 | ChooseFI Ep 19 The Stock Series Part 2 | JL Collins | ChooseFI Ep 34 What is The Simple Path to Wealth? | JL Collins | ChooseFI Ep 284 Alan and Katie Donegan's VTSAX Blog Chautauqua | Oh The Places We Will Go | ChooseFI Ep 64 Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 28 Nov 2022 - 1h 08min - 571 - 410 | Short-Term Rentals on the Path to FI | Kelly Cronin
In this episode: finding mentors, the superpower of making less, traveling while making less, rental properties, and the one percent rule.
For some who begin the FI journey, it's about doing all they can to reach that FI number, but for many people the journey to FI is about the people you meet and learn from along the way! On this week’s episode we are joined by longtime listener Kelly Cronin to discuss the importance of mentorship, her interesting take that gives a new meaning to traveling while working, and the importance of pursuing what drives you and leads to a life filled with with intentionality. In Kelly's case, a passion towards travel lead to a fascinating side-hustle that affords her the opportunity to make money while seeing the world, who knows where a passion could end up leading you?
Kelly Cronin:
Website: croninscastles.com Rental Property Class: Cronin's Castles STR ClassTimestamps:
1:55 - Introduction 3:11 - Kelly's Early Financial Influence 6:45 - Finding Mentors 9:02 - The Superpower of Making Less 15:26 - Traveling While Making Less 21:09 - Rental Properties 29:54 - The Mechanics of Acquiring Rental Properties 34:23 - The 1% Rule 41:32 - Running The Numbers 46:50 - How Is Kelly Marketing This? 55:46 - The FI Aspect, How Does This Intersect With Your Job? 64:20 - Where Do You Go From Here? 65:37 - ConclusionResources Mentioned In Today’s Episode:
Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 Peter Attia Huberman Lab Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403 Intuit Mint The BiggerPockets Money Podcast Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 21 Nov 2022 - 1h 04min - 570 - 409 | 401(k), Mega Backdoor Roth and the Premium Tax Credit | Sean Mullaney
In this episode: w2 employment to self-employment, s-coporations vs self-employment, avoiding penalties, megas backdoor roths, retirement planning, and health insurance.
Most of us are familiar with a W2 job, and there is a certain level of convenience that comes with working a W2 job as it relates to retirement planning and taxes. So much so that it can be daunting to want to embark out on your own journey and have to figure it all out on your own. This week we are re-joined by our “in-house tax expert” Sean Mullaney to discuss the tax and retirement sphere as it relates to being self-employed. While we are not offering advice, this week's episode is meant to act as a resource to listeners curious about the steps and unknowns that come with the self-employment territory. With the same excitement and motivations gained from getting to run your own business, those same motivations and excitements can still be applied to navigating your retirement and taxes once you remember that it is now within YOUR control! The fear of the unfamiliar may not be as daunting and complicated as you may think, and figuring out these factors requires you to take the same initiative and action that is required throughout your entire FI journey!
The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual.
Sean Mullaney:
Website: fitaxguy.com Book: Solo 401k; The Solopreneur's Retirement AccountTimestamps:
1:42 - Introduction 2:38 - W2 Employment to Self-Employment 11:34 - S-Corporations vs Self-Employment 14:03 - Avoiding Penalties When Making Estimated Payments 19:29 - Saving For Retirement As An Entrepreneur 24:00 - Employee vs Employer 401k Limits and Mega Backdoor Roth 33:54 - Is The Mega Backdoor Plausible For The Self-Employed? 41:03 - Roth IRA Conversions 43:15 - Addressing The Uncertainty Around The Employer Maximum 53:40 - ACA Plans and Navigating Health Insurance As A Solopreneur 63:34 - What Counts As Income? 68:41 - ConclusionResources Mentioned In Today’s Episode:
Paying Taxes When You're Self-Employed IRS Publication 560 IRS Form 8962 Instructions on Premium Tax Credit IRS Publication 974 Premium Tax Credit Creating Your Dream Job | ChooseFI Ep 117R Roth IRA Conversion Ladder Case Study | ChooseFI 163R Healthcare.gov ACA Plans Cody Garrett's Tweet Illustrating ACA Medical Insurance Premiums and PTCs Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceFri, 18 Nov 2022 - 1h 09min - 569 - 408 | Debt Payoff, Disney & Taking Action | Audrey
In this episode: taking action, travel rewards, career progression, the mission to net zero, and value propositions for college.
Whether you were raised to live frugally or if the lessons and lifestyle of FI are just now being introduced into your life, the journey to FI is full of ebbs and flow, not only with your finances, but with the knowledge you pick up along the way. This week we are joined by Audrey to talk about her journey with FI, her path to intentionality, and to discuss the power of optimization. Everyone who begins the FI journey comes from a different place of financial literacy, and a lot of the times we may grow up following the “do’s and don’ts” of financial planning that we were raised with. However, you may be missing out on new ways to optimize your FI journey! The best part about FI is that it's a personal journey that allows you to learn new ways to plan, as well as new ways to reallocate your savings and spending in order to live your best life in the present and future!
Timestamps:
1:53 - Introduction 5:03 - Natural Savers 8:25 - Value Propositions For College 11:40 - Tackling Student Loans, The Mission To Net Zero 20:50 - Traveling On Points/Travel Rewards Cards 28:59 - Travel Rewards Hotel Strategy and Point Optimization 32:23 - Credit Cards and Children/Second Generation FI Training 34:50 - Taking Action In Your Post-Debt Life And Evolving 42:16 - Career Progression and Optimization 47:18 - Audrey Takes The Hot Seat 55:24 - ConclusionResources Mentioned In Today’s Episode:
Dave Ramsey Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022) Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393 The Tail End "Die With Zero" By Bill Perkins TalentStacker's Salesforce Career Development Program Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117 From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297 From Stay At Home Parents to High Paying Salesforce Careers in Under 6 Months | Salesforce For Everyone Mama Bear Apologetics All the Hacks Join ChooseFI's Facebook Group! Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 14 Nov 2022 - 56min - 568 - 407 | Kristi | Households of FI Update
In this episode: growth during the job hunt, exploring entrepreneurship, tips for career growth, and second generation FI.
It's only natural that on the journey to FI you will want to pivot. Whether it is your financial outlook or even your career outlook, it's only natural to have reservations about making a change that could benefit you in the long run. On this week’s episode of The Households of FI, we are joined by Kristi to fill us in on how her FI journey is going, as well as discuss the topic of “leveling-up”. Changing jobs or moving on to the next career chapter while on the journey to FI can seem farfetched, because often times we want to stick to what is familiar and what is more in line with our plan. However, there is no shame in expanding your network and your options in terms of finding better employment that is more aligned with your values! Don't be afraid to be “un-stuck” and see what career options you have, and make sure you are surrounded by those who are aligned with the same principles as you are!
Timestamps:
2:03 - Introduction 3:41 - An Update From Kristy 5:53 - Growth During The Job Hunt 13:03 - Tips For Career Growth 19:45 - Exploring Entrepreneurship 23:39 - The Finances Of Engagement 27:07 - Being On The Same Page Financially As Your Partner 31:48 - Where Is Your Salary Raise Going? 38:59 - Laying The Seeds For Second Generation FI 51:52 - ConclusionResources Mentioned In Today’s Episode:
Kristi & Big Ern | ChooseFI Ep 259 Is My Company’s Stock Overpriced | P/E Ratio Explained | ChooseFI Ep 314 Career Hacking With ESI Money | ChooseFI Ep 23 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Rebel Entrepreneur Alan and Katie Donegan's Free Extraordinary Life Course Money With Katie | Katie Gatti | ChooseFI Ep 399 Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 The Simple Startup Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing withFri, 11 Nov 2022 - 53min - 567 - 406 | 18 Months of Massive Action | Josue
In this episode: taking action, asking questions, navigating information, getting to where you want to go, the reason we learn, and growth mindsets!
Beginning your FI journey often means facing a lot of unfamiliar knowledge being thrown at you. With all the resources and alternative information provided, we know firsthand that it can be overwhelming. However, you should not feel intimidated to start your FI Journey! This week we are joined by an avid ChooseFI listener Josue to discuss the power that comes with learning new information, as well as the importance of taking action from information presented! No matter what financial or educational background you come from, your FI journey starts from a personal square one. Whether the information and knowledge presented from this journey is completely new or relatively familiar, there can be a sense of motivation that can be gained from continuing this journey! If you are searching for early FI excellence defined, then look no further than Josue!
Timestamps:
1:48 - Introduction 2:41 - 18 Months Ago... 5:53 - What Made You Chase FI? 10:43 - Taking Action and Asking Questions 17:30 - Growth Mindset and Changing 20:07 - Navigating Information/Combatting Echo-chambers 33:07 - Getting Where You Want To Go and How Josue Did It 39:40 - The Cost of Not Knowing 42:43 - Retirement Accounts 51:50 - This is Why We Learn/Life Insurance 56:36 - Leasing Cars 60:16 - Savings Rate Based On Value 65:47 - Josue Takes The Hot Seat 77:09 - ConclusionResources Mentioned In Today’s Episode:
Flexible Spending Rules For Early Retirees | ChooseFI Ep 176 JL Collins "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" by JL Collins "Influence: The Psychology of Persuasion" by Robert B. Cialdini The Knowledge Project "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear The Trades Path To FI | Captain DIY | ChooseFI Ep 103 The 18-Year-Old Who Actually Listened | Ep 388 Just Keep Buying | Nick Maggiulli | Ep 404 Leasehackr "Four Thousand Weeks: Time Management for Mortal" by Oliver Burkeman Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 07 Nov 2022 - 1h 17min - 566 - 405 | Matt & Meg | Households of FI UpdateFri, 04 Nov 2022 - 1h 10min
- 565 - 404 | Just Keep Buying | Nick Maggiulli
In this episode: income-producing assets, REITs, the 4% rule, optimal spending, saving too much, and why you will never feel rich.
It is believed that in order to reach FI, cutting expenses and limited spending seems like the ideal way to your end goal, but are you missing out on ways to spend-to-earn because it feels right? Well, this week we are rejoined by friend of the show and guest host Brian Feroldi to interview Nick Magguilli, author of the excellent book Just Keep Buying: Proven Ways to Save Money And Build Your Wealth. Together we discuss using data to grow your wealth and fighting the stigmatization of spending your money. On the journey to FI it is easy to focus more on saving so much that we’re afraid to spend, however, by not spending we could be missing out on assets, both monetary and non-monetary, that could bring us greater fulfillment in the present and future! By rethinking your approach to spending, rather than looking at it as something that is negative, you may find that your money can go farther for you when its spent rather than saved!
Nick Maggiulli
Website: ofdollarsanddata.com Book: Just Keep Buying: Proven Ways to Save Money And Build Your Wealth Twitter: @dollarsanddata Instagram: @nickmaggiulliBrian Feroldi
Website: The Motley Fool Book: Why Does The Stock Market Go Up? Twitter: @BrianFeroldiTimestamps
1:29 - Introduction 2:31 - Just Keep Buying 9:27 - Income Producing Assets 10:55 - Macro-Level Mind Changers 14:08 - REITs 16:57 - You Can Save Too Much? 21:40 - How Nick Thinks Through The 4% Rule 26:20 - Spending Optimally 30:59 - Catching Up Financially Through Exercise 34:01 - Examining 401k Maxxing 38:47 - Saving Raises 41:50 - Why You Will Never Feel Rich 46:16 - Investment Properties & Nick 47:55 - ConclusionResources Mentioned In Today’s Episode
3 words got me 3 MILLION SUBSCRIBERS "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins "The Tail End" By Tim Urban Peter Attia Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 FinanceMon, 31 Oct 2022 - 48min - 564 - 403 | Alignment & Adjustments | Scott & Taylor Rieckens
In this episode: balancing deprivation and happiness, making adjustments, everything is negotiable, the evolution of alignment, adjusted awareness, and intentionality in community.
Five years ago, Scott and Taylor Rieckens publicly began their path to FI by creating the fantastic documentary "Playing With FIRE." The documentary depicts their life as they start out and navigate the early stages of their FI journey, which is often the period of time when we act our most frugal, cut as many expenses as possible, and in turn save as much as we possibly can! While this kind of lifestyle is a great jumping off point early in the FI journey, oftentimes people find this lifestyle to be limiting and ultimately detrimental to their own happiness. Now that Scott and Taylor are significantly further down the path compared to the last time we heard from them, we decided to have them return to the show to discuss the adjustments they have made in their lifestyle in order to live in a manner that fully aligns with their idea of a happy life! Remember, FI isn't suppose to limit your ability to be happy, rather it exists to enhance your life and help you find fulfillment as progress down the road less traveled.
Scott and Taylor Rieckens:
Website: playingwithfire.com Documentary: Playing With FIRE Book: Playing With FIRETimestamps:
1:59 - Introduction 2:38 - What Makes You The Most Happy? 8:41 - The Evolution of Alignment and Adjusted Awareness 18:30 - The Craziest 36 Months 23:13 - Revisiting What's Important After Evolution 35:05 - Balancing Deprivation and Happiness 37:58 - Making Adjustments 43:03 - Decisions Are Based On The Information You Have 49:57 - Wonderful Evolutions and Learning Together 51:23 - Everything is Negotiable 57:02 - Everybody is the Star of Their Own Movie / Intentionality in Community 66:34 - ConclusionResources Mentioned In Today’s Episode:
Playing With FIRE | Documentary | Scott Rieckens | ChooseFI Ep 37 "The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work" by Shawn Achor The Tim Ferris Show The Great Man Within "Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" by Annie DukeMore Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 24 Oct 2022 - 1h 07min - 563 - 402 | Vivian | Households of FI Update
In this episode: the beauty of community, misleading expectations, doing what's best for your situation, and stress reduction.
The Journey to FI is hardly linear and is full of ebbs and flows. While it may seem easier to share your wins/successes within this community, we know it can be even harder to share the moments of this journey that feel like setbacks. On this week’s installment of the Households of FI series, we are joined again by Vivian to fill us in on how her FI journey is going, and the importance of finding support within this community. Everyone’s FI journey is unique to them, but it doesn’t mean that you are alone! The beauty of FI is that it offers you a community to share your successes, as well as share your struggles. By being vocal and unafraid to admit that you are having a hard time, you are not only sure to garner support from others facing similar battles, but can find a renewed sense of motivation to make you feel more accountable and present on this journey!
Timestamps:
1:57 - Introduction 4:14 - The Beauty of Community 7:56 - Expectations Are Misleading 13:37 - It's Not Black and White, Do What's Best For You 18:30 - Ask For What You Deserve 22:10 - Reducing Stress and Addressing Your Situation 28:51 - Life Is Not A Straight Path 31:02 - Retirement Withdrawals and The Market 38:33 - You Are Not Alone 40:14 - ConclusionResources Mentioned In Today's Episode:
Introducing Our Households of FI!! Part 1 | Ep 221 If People Can Do It I Can Do It Too | Vivian Connects With Leslie Tayne | Households Of Fi | Ep 255 Navigating a Multigenerational Household | The Financial Tortoise | EP 302 Brian Feroldi JL Collins "Just Keep Buying: Proven Ways to Save Money And Build Your Wealth" By Nick Maggiulli Mega Backdoor Roths: How They WorkMore Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileFri, 21 Oct 2022 - 42min - 562 - 401 | Court from Modern FImily Returns
In this episode: finding unknown opportunity, creating your lifestyle as you go, overcoming the down period, real estate renting, and what reaching FI looks like.
Once you’ve set your FI number and put plans into action, it’s tempting to want to do everything in your power to reach that goal as soon as possible, potentially by working longer hours or cutting out expenses in your life in order to save more. But by doing this are you cultivating the lifestyle you want to live after your goal is met? On this week's episode we are re-joined by Court from Modern FImily to update us on her FI journey, the changes she has made over the last few years, and her rewarding takeaways from being flexible on her journey. The beauty of FI is that it is a personal journey, and it’s one YOU create to reflect YOUR lifestyle! It is important to remember that by rushing to meet your goal, you may be adding more stress than needed, and missing out on the lessons, hacks, and new opportunities (or use experiences) that come with starting this journey!
Court From Modern FImily
Website: modernfimily.com Instagram: @modernfimilyTimestamps
1:51 - Introduction 2:28 - Update From Courtney 8:22 - Testing to Find Unknown Opportunity 14:19 - Creating Your Lifestyle on the Journey 20:10 - Overcoming the Down Period 25:27 - What Do You Want Your Life to Look Like? 28:30 - Finding Free Activities 37:03 - Annual Passes and Finding Groups 41:25 - Real Estate Renting and Simplicity 48:37 - Flexibility and Taking Advantage of Whats Available 52:04 - What Reaching FI Looks Like 64:23 - ConclusionResources Mentioned In Today’s Episode
Modern FImily With Court | ChooseFI Ep 166 Your Flex Rate: The Crucial Factor Behind A Successful Early Retirement Find Your Local ChooseFI Group! Early Retirement Now Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep 12 Subscribe to the FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 17 Oct 2022 - 1h 06min - 561 - 400 | Zach & Marilyn | Households of FI Update
In this episode: house hacking, benefits and compensation packages, earning extra income and side hustles, and not setting perfection as your goal.
We know achieving FI doesn't happen overnight, and rarely does it happen perfectly according to plan. Life happens, changes happen, and uncertainty usually finds a way to throw you off your planned path. This shouldn’t be something to fear! Today in the Households of FI series we are joined again by Zach to fill us in on how his FI journey has progressed over the last couple years, as well as to discuss the importance of re-adjustment! While failure is never an easy thing to accept, the fear of failing may deprive you of some excellent learning opportunities. By remaining intentional with your FI plan rather than striving for perfection, you will allow yourself to overcome uncomfortable lulls and expand your journey to places you might not have thought were possible!
Timestamps:
1:51 - Introductions 4:45 - Zach and Marilyn Update 7:16 - House Hacking and Limiting Expenses 13:30 - Life is Lumpy, Perfection Isn't The Goal 21:39 - Examining The Whole Compensation Package 31:40 - Earning Extra Income 40:15 - Zach's 6 Year Path To FI 46:21 - If You Weren't Afraid, What Would You Do? 53:15 - Being Open to Exploring 56:53 - ConclusionResources Mentioned In Today’s Episode:
Households of FI-Zach and Marilyn Talk Real Estate Investing With Paula Pant | ChooseFI Ep 247 Discovering the Power of FU Money | ChooseFI Ep 321 Side Hustle Nation "$1,000 100 Ways: How Real People Make Real Money on the Side (and how you can too)" by Nick Loper The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep. 13 Early Retirement Now "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" by Tim Ferriss Subscribe To The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileFri, 14 Oct 2022 - 58min - 560 - 399 | Money with Katie | Katie Gatti
In this episode: finding purpose, misaligned values, being the product of your environment, the stock market as a source for wealth building, and modern two-player mode.
We encourage our listeners that there is no wrong age to start your FI journey, but for those of you starting your FI journey as a young adult, the firehouse of foreign information can feel overwhelming. Sometimes it may even seem as if you’re too far behind to even start! The good news is, you're not! Today we are joined by Katie Gatti from Money With Katie to talk about how she navigated FI in her early 20s, and how she used a lack of knowledge as a motivator to get to a place of financial independence. Everybody starts this journey at a different place in their life and no two people are the same. By being patient and finding value in learning something new, you are certain to find yourself more motivated on your FI journey!
Katie Gatti
Website: moneywithkatie.com Podcast: The Money With Katie Show Twitter: @moneywithkatie Instagram: @moneywithkatieTimestamps
1:36 - Introductions 2:09 - Katie's FI Journey 8:32 - Finding Meaning and Purpose 11:53 - Misaligned Value and Personal Finance 18:58 - Katie's College Decision and Education 25:03 - Forming Yourself as the Product of Your Environment 31:40 - It's Never Too Late For FI 39:03 - The Stock Market as a Means of Wealth Building 49:09 - Modern Two-Player Mode and Setting Financial Expectations 55:41 - Katie Takes The Hot Seat 67:07 - ConclusionResources Mentioned In Today’s Episode
Young Money The Mad Fientist Meet the Frugalwoods | Achieving FI Through Simple Living | ChooseFI Ep 65 Paul Merriman Introduces The Ultimate Buy And Hold Portfolio | ChooseFI Ep 130 Paul Merriman | ChooseFI Ep 290 M1 Pies: Level Up Your Dividend Strategy and Optimize Your Portfolio Like a Pro (2022) "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung The Huberman Lab Podcast The BiggerPockets Money Podcast Subscibe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 10 Oct 2022 - 1h 08min - 559 - 398 | Troy & Lindsay | Households of FI Update
In this episode: career changes, up-skilling, re-prioritizing, accruing debt for value, childcare, and emergency funds.
The journey to FI is never linear. Sometimes we can find ourselves thinking the only way to meet our goals is to follow a strict plan, which can make adjusting said plan feel like a daunting set back. Well, our returning Households of FI guests Troy and Lindsay believe that flexibility during ones journey to FI can provide you with tremendous value! Making changes in your life, whether it's accruing temporary debt or changing careers, can actually lead to big time payoffs! While it may feel more secure to have a set trajectory with your financial goals, we know life gets in the way! So instead of sticking with a plan that isn't making you happy, try to stay flexible and evaluate all your options!
Timestamps:
1:34 - Introductions 4:55 - Troy and Lindsay Update 12:10 - Avoiding Over Optimization 18:49 - Up-Skilling & Career Changes 27:56 - Upgrading Income and Re-evaluating Priorities 36:15 - Accruing Debt for True Value 40:20 - Emergency Funds 42:58 - Going On Autopilot 46:00 - Expenses and Childcare 50:34 - Evaluating Your Work and Worth 53:14 Raising FI Children 58:54 - ConclusionResources Mentioned In Today’s Episode:
Introducing Our Households of FI!! Part 1 | ChooseFI Ep 221 Households of FI-Troy & Lindsay and Brad Calculate Their FI Number | ChooseFI Ep 241 Mr Money Mustache The Mad Fientist The Great Man Within Level Up In Tech Udemy A Cloud Guru TalentStacker's Salesforce Career Development Program The BiggerPockets Money Podcast 1500 Days to Freedom Should I Refinance My Mortgage? | Ep 167R New Retirement Negotiate Your Salary With Tori Dunlap | Ep 147 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211 "Raising Your Money-Savvy Family For Next Generation Financial Independence" By Carol Pittner and Doug Nordman Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileFri, 07 Oct 2022 - 59min - 558 - 397 | Securing Your Financial Life
In this episode: cybersecurity, password managers, two-factor authentication, safely navigating the internet, and more hot-seat questions!
Have you ever considered how secure your finances are in the modern world? Within the cyber-dominated world we are all living in, it can be tough to stay on top of updates, passwords, and other necessary resources that help us keep our digital footprints safe. Well in order to provide you all with some high-level tips and tricks to stay ahead of the curve, we decided to have long time listener and cybersecurity expert Tom on the show this week to discuss how you can secure your online life. Keeping yourself secure and your assets safe is one of the best ways to ensure a progressive future as you move forward in the digital era while on your FI journey!
You can find the link to Tom's Facebook thread here!
Timestamps:
1:44 - Introduction 2:52 - Passwords and Password Managers 13:22 - Two-Factor Authentication 22:03 - Email Links 28:38 - Cyber Financial Risks 34:57 - Surfing The Web Safely 39:14 - Antivirus Software 43:57 - Public Wifi, Back-ups, and High-Level Tips 55:18 - Look Out For Elderly Loved Ones 58:38 - Tom Takes On The Hot Seat 75:01 - ConclusionResources Mentioned In Today’s Episode:
Join ChooseFI's Facebook Group! Yubico Lastpass 1Password KeePass Why You Need A Legacy Binder JL Collins Die With Zero: Getting All You Can from Your Money and Your Life By Bill Perkins RunnersFI Suggested Books Libby Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 03 Oct 2022 - 1h 16min - 557 - 396 | The Valuist | Bo Loy
In this episode: evolution, knowing the rules, making purposeful decisions, automation, and the return of the hot seat!
In the advent of making money, oftentimes we can find ourselves torn between a state of over-saving through budgeting and cutting expenses, and over spending just because we have the means to. But is that what we really are looking for in our respective FI journeys? With thoughtful planning and proper action maybe we can happy medium between the two that doesn’t feel over invasive. Today we are joined by Bo Loy to discuss the concepts of finding adventures that don't break the bank, purposeful decision making, and the perks of automating your money. Also we heard your feedback! Back by popular demand this week, Bo Loy will be answering questions in our freshly renewed segment, The Hot Seat!
Timestamps
1:26 - Introduction 2:23 - Evolution and Perspective 9:12 - It All Adds Up 14:22 - Reviewing, Insurance, and HSA 24:11 - Knowing the Rules 32:00 - Tax Loss Harvesting 37:45 - Making Purposeful Decisions 44:02 - Finding Free Adventures 49:01 - Automation 66:17 - The Hot Seat Returns 79:10 - ConclusionResources Mentioned In Today’s Episode
Early Retirement Extreme Mr Money Mustache HSA – The Ultimate Retirement Account in 2022 Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18 A Second Generation FI Case Study | Cody Berman FlytoFI | ChooseFI Ep 83 All The Hacks The High Cost Of Living Path To FI | ChooseFI Ep 41 JL Collins Brian Feroldi Check Out ChooseFI On Facebook Find Your Local Group! Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 26 Sep 2022 - 1h 20min - 556 - 395 | The Debtist Finds Balance in FI
In this episode: student loans, the impact of knowing, navigating the pandemic, the power of planning, and the freedom of FI!
Tens of millions of people deal with student loan debt, and even with the recent news of loan forgiveness, there are still many who are left unequipped with the knowledge of the best ways to repay these debts without sacrificing from their lifestyle. Today we are rejoined by Samm, aka “The Debtist,” to get an update on how she has been navigating paying off her student loans, as well as how her financial mindset has changed over the last 4 years. Just because you take on debt does not mean you have to deprive yourself of the life you want until the debts are paid off! By changing your mindset to one of abundance of opportunity rather than scarcity of opportunity, the path to FI can open many doors for you! Paying down your loans, entering into new professions, and not letting your money control your ability to find happiness are all just examples of what is possible while getting yourself out from debt!
The Debtist:
Website: The Debtist Instagram: @thedebtistTimestamps:
1:25 - Introduction 1:50 - Sam's Student Loan Story 6:34 - Switching From IBR and The Impact of Knowing 10:48 - Navigating the Pandemic Pause 14:06 - The Freedom of FI 17:45 - The Aftermath of the Pandemic 24:56 - The Doors You Can Open By Shutting One 30:51 - The Power of Planning 38:18 - The End of the Pandemic Pause 46:35 - ConclusionResources Mentioned In Today's Conversation:
HyperDebt | The Debtist | ChooseFI Episode 98 The Student Loan Planner The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393 Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 You Need A Budget (YNAB) Do You Need A Budget? | YNAB | ChooseFI Episode 165 Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 19 Sep 2022 - 48min - 555 - 394 | From Blood Cancer to Boston Marathon | Boyd Dunleavey
In this episode: resilience, making good choices, letting go of limiting beliefs, attracting the energy you put out, and winning at life!
What would you do if you were given a terminal cancer diagnosis? While it might not be the first thing that comes to mind, if you're able, the Boyd Dunleavey option is to develop a new positive outlook on life and the energy your omitting into the world, win your fight with cancer, and then proceed to run 11 marathons. Bad news comes to every single one of us, but how we process and handle that news is entirely up to us! Choose to handle it the right way, move forward with your life, and prioritize the things that matter to you. Despite what you may have been told, you have no idea where it could lead you ten years down the road!
Boyd Dunleavey:
Check out these sites to see if your someones much needed match! Be The Match One Match Two fantastic groups in the cancer community that Boyd loves and trusts! Gryt Health Man Up To Cancer Connect With Boyd Facebook: From Blood Cancer To The Boston Marathon Instagram: @from_blood_cancer_to_bostonTimestamps:
1:22 - Introduction 2:49 - Choices Bearing Fruit/ Boyd's Backstory 11:42 - Taking The Better Path 20:04 - The News That Changed Everything 24:36 - Resilience and Pivoting 29:41 - You Could Be Someones Match 34:20 - Attracting The Energy You Put Out 39:16 - The Places Your Energy Can Take You 47:27 - The Boston Marathon 51:07 - It's a Choice to Make Good Choices/Ripple Effects 58:40 - Goal Setting, Financial Resilience, and Winning at Life! 68:34 - Let Go of Limiting Beliefs 71:00 - ConclusionResources Mentioned In Today’s Episode:
"Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert T Kiyosaki "Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom" by Robert T Kiyosake American Red Cross Todoist The Motley Fool Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Episode 31 Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022) Atomic Habits | James Clear | ChooseFI Episode 157 The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Boyd Meeting His Donor Nathan! Subscribe to The FI Weekly!More Helpful Links and Resources:
Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 12 Sep 2022 - 1h 13min - 554 - 393 |Travel Rewards Refresher 2022 | Lyn Mettler
In this episode: Travel Rewards, Credit Cards, and The Value of Rewards Points.
We all know that it can be expensive to travel, and sometimes the joy and excitement of taking that long-awaited family vacation can be overshadowed by the cost of taking the trip. But what if there was a more efficient way to travel that doesn’t feel like you are breaking the bank? Well, with effective planning and the right tools this is entirely possible! This week we are once again joined by Lyn Mettler who will discuss to maximizing your spending in a way that does not deprive you, but rather rewards you!
Lyn Mettler:Check Out Lyn's Free eBook How to Earn the Southwest Companion Pass!
Timestamps:1:30 - Introduction 3:50 - Credit Cards 7:50 - The Value of Points 16:53 - Two-Player Mode and The 5-24 Rule 20:35 - Where to Start With Travel Rewards 25:03 - Limitations and Strategy 31:33 - Why This Works With FI 33:31 - The State of Travel Part 1 37:15 - Award Charts and Wiggle Room 41:28 - Points and Hotels 48:25 - The State of Travel Part 2 50:31 - The Booking Order 58:44 - Conclusion Resources Mentioned In Today's Episode:The Chase Sapphire Preferred® Card Review ChooseFI's List of Travel Rewards Cards Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Ep 31 Travel Rewards | Marla Taner | ChooseFI Ep 77 Families Fly Free | ChooseFI Ep 353 Turo Airbnb Vrbo Vacasa David's Vacation Club Subscribe to The FI Weekly! More Helpful Links and Resources:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 05 Sep 2022 - 59min - 553 - 392 | Beginning of a New Era
In this episode: Unlocking Freedom, The Optimized Path, Skilling Up, The Perpetual Money-Making Machine, and a New Era of ChooseFI.
It is truly the end of an era at ChooseFI. After six years, over 400 episodes, and all the laughs shared along the way, Jonathan is taking a step away from show to explore a new chapter in his life. On his way out, he and Brad hopped on the microphones as co-hosts one last time to discuss the lessons they have learned making this podcast, some key points of consideration for your FI journey, and the absolutely amazing community that has been built around this podcast. This audience truly embodies the word crowd in the word crowdsourced. Best of luck to Jonathan on all his new endeavors, and be sure to tune in next week as Brad carries the podcast into its new era!
Timestamps0:57 - The End of an Era 5:00 - The Last 5 Years and The Evolution of FI 12:12 - Unlocking Freedom 15:57 - Math, Hope, and Time 19:47 - The Optimized Path 25:21 - The Perpetual Money Making Machine 34:16 - Skilling Up and Education 38:58 - The Value of Being Crowdsourced 46:36 - Reach Out To Us! 48:07 - ConclusionResources Mentioned In Today’s EpisodeChoose FI: Your Blueprint to Financial Independence Alan Donegan Coach Carson Scott Trench How Real Estate Investors Make it Work in High Interest Environments | Coach Carson | Ep 387 Mr. Money Mustache Side Hustle Nation Join ChooseFI's Facebook Group Book your custom student loan plan with Student Loan Planner Your Money or Your Life by Joe Dominguez, Vicki Robin, and Mr Money Mustache Find Your Local ChooseFI Group! Leave Us a Voicemail Subscribe to The FI Weekly!If You Want To Support ChooseFI:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 29 Aug 2022 - 51min - 552 - 391 | The Student Loan Reset (Urgent Listen!) | The Student Loan Planner
In this episode: student loan forgiveness, public service loan for forgiveness, and getting closer to loan forgiveness.
How would you respond to finding out your looming student loan debts could be forgiven? Well for some of you that could be possible, but you need to act quickly! Travis Hornsby from The Student Loan Planner joins the show this week to discuss public service loans for forgiveness, and how a massive opportunity to tackle your student debt could be available to up to 25% of people with student loans, but only for a limited window of time! The deadline for applications for this waiver is currently October 31st, 2022 so listen along to see if this option can be applicable to you, and if so visit the link to book a consultation with The Student Loan Planner team ASAP!
The Student Loan PlannerBook a personalized consultation with The Student Loan Planner team (including an automatic $100 discount for ChooseFI listeners!)Timestamps1:43 - Introduction 3:04 - The Public Service Loan for Forgiveness 4:51 - Public Service 6:05 - The Problem This Fixes 11:57 - Getting Closer to Forgiveness 16:21 - Why This is Urgent 21:13 - Deadline Information 22:54 - Slam Dunk Case Example 28:36 - Self Screening Test 30:20 - ConclusionResources Mentioned In Today’s Episodestudentaid.gov Book Your Custom Student Loan Plan Student Loan Planner with Travis Hornsby | ChooseFI Ep 202 Student Loan Debt Repayment | Travis Hornsby | ChooseFI Ep 78 Subscribe to The FI Weekly!If You Want To Support ChooseFI:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 22 Aug 2022 - 32min - 551 - 390 | Taking Stock of Your Life | Jordan Grumet
In this episode: marginal gains, prioritizing your present, purposeful living, impacting others, and goal setting.
Whether you like it or not we all will eventually die someday, and when that time comes the last thing we want to do is to look back on our lives with regret. Oftentimes in life we let expectations, outside obligations, and future ambition rule over us in the present, without fully realizing we could be living our dream life in the present! Nobody understands this more than former hospice doctor Jordan Grumet (aka Doc G) who comes back to the show to discuss the importance of finding meaning in the way we approach our goals, and how becoming more intentional and present could lead to a more fulfilling and purposeful life!
Jordan "Doc G" GrumetWebsite: jordangrumet.com Book: Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life Podcast: Earn & Invest Blog: DiverseFITimestamps1:27 - Introductions 2:30 - Sam's Story 6:29 - It's Not Bout The Goals, It's about The Processes 14:23 - Marginal Gains 17:33 - Prioritizing Yourself 23:24 - Your The Star of Your Own Story 27:20 - Making Ripples and Impacting Others 35:24 - What Would You Do if Money Wasn't an Issue? 41:36 - Money is a Tool and Measuring Friction 50:15 - ConclusionResources Mentioned In Today’s EpisodeReal Estate & Financial Independence Podcast with Coach Carson Ordinary Sherpa "Die With Zero" by Bill Perkins JL Collins "The Tail End" by Tim Urban Subscribe to The FI Weekly!If You Want To Support ChooseFI:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Compare, buy, and save big on insurance with Policygenius Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 15 Aug 2022 - 51min - 550 - 389 | The Language of Business
In this episode: interpreting financial statements, utilizing financial statements, balance sheet statements, income statements, cash flow statements, and valuing a business for its purpose.
Have you even wanted to learn the language of business? Not in a literal sense, by that we mean understanding the ways businesses communicate what their real value is to the general public and potential investors? Well if you have had this incredibly niche thought, you're definitely a member of the FI community, and you're also in luck! Brian Feroldi is back on the show to discuss financial statements and the information certain financial statements indicate, as well as act as your translator for the language of business! Understanding this language can be a massive help in your own decision making going forward!
Brian FeroldiTwitter: @BrianFeroldi YouTube: Brian Feroldi Website: brianferoldi.comTimestamps1:26 - Introduction 2:44 - Financial Statements 5:35- Read and Interpret 8:58 - The Three Main Financial Statements 13:33 - Balance Sheet Statements 22:09 - Utilizing Financial Statements 24:06 - Income Statements 30:04 - Claim on Earnings 33:58 - Cash Flow Statements 44:13 - Valuing a Business for it's Purposes 47:22 - Not All Businesses are Equal 50:16 - ConclusionResources Mentioned In Today’s EpisodeWarren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage by Mary Buffett and David Clark https://www.fool.com/author/14471/ Stock Fundamentals With Brian Feroldi | ChooseFI Ep 200 Subscribe to The FI Weekly!If You Want To Support ChooseFI:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Compare, buy, and save big on insurance with Policygenius Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 08 Aug 2022 - 51min - 549 - 388 | The 18-Year-Old Who Actually Listened
In this episode: college hacking, career hacking, the power of starting early, trade jobs, and salesforce careers.
How many times in the past have you been listening to this podcast and thought, "I wish I knew about this when I was younger." Well today's guest Zach actually had the foresight to start using the lessons he learned from this podcast at the ripe age of 18, and the results may be envy inducing! It's worth noting that not starting your FI journey at the age of 18 doesn't discredit you from a happy and financially independent life. But it's also worth noting that the sooner you start, the sooner you'll be able to reap the rewards, so start today!
Timestamps1:08 - Introduction and Zach's E-Mail 3:03 - What were you looking for when you found the FI community? 5:43 - Dual Enrollment 15:06 - Evaluating Your Education Options and Expenses 22:29 - Military Service and College Education 26:39 - First Job Out of College and Trade Jobs 35:05 - 20 Years Old, $65,000 Yearly Salary, No Debt, What Next? 37:04 - The Power of Starting Early 42:26 - Zach's Career Change 53:31 - ConclusionResources Mentioned In Today’s EpisodeSubscribe to The FI Weekly! Virginia's Community Colleges Miss Excel From Pandemic Layoff to $100k+ | A Salesforce Success Story |EP 297 Free Salesforce 5-Day Challenge Salesforce: A Lucrative Career and No Degree or Tech Background NeededIf You Want To Support ChooseFI:Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Compare, buy, and save big on insurance with Policygenius Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint MobileMon, 01 Aug 2022 - 55min
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