Podcasts about choosefi

In this episode of ChooseFI, Brad Barrett is joined by Mindy from BiggerPockets Money and Chris from Can I Retire Yet? to explore the concept of the "middle-class trap." They discuss the challenges faced by many middle-class individuals who appear wealthy on paper, yet find themselves financially restricted due to their assets being tied up in home equity and retirement accounts. The conversation dives into financial independence strategies, the psychological aspect of personal finance, and how to navigate the feeling of being "trapped" financially. Key Takeaways: Understanding the Middle-Class Trap (00:02:37): Individuals may appear wealthy due to equity but feel financially restricted due to inaccessibility of funds in retirement accounts. The Role of Home Equity (00:14:18): Home equity should not be included in your financial independence (FI) number unless you plan to sell the house. Psychological Impact of Personal Finance (00:05:12): The emotional aspect plays a significant role in how individuals view their financial situations, often leading to feelings of being trapped. Multiple Financial Options Exist (00:11:42): It's crucial for individuals to understand the various strategies available to access their funds before retirement age. Timestamps and Topics: 00:00:00 - Introduction to the Middle-Class Trap Setting the stage for the discussion about financial independence and retirement strategies. 00:01:59 - Mindy's Perspective Mindy introduces the concept and discusses her experiences with clients caught in the middle-class trap. 00:04:27 - Chris's Rebuttal Chris provides insights and alternative views regarding the concept of feeling "trapped" financially. 00:11:42 - Importance of Education Discusses how understanding financial choices can alleviate the feeling of being trapped. 00:21:01 - Financial Independence Strategies Different strategies including the Roth IRA conversion ladder, allowing early access to retirement funds. 00:53:01 - Addressing the Feeling of Being Trapped Emphasizes the psychological aspect of finance and personal finance education. 00:55:12 - Conclusion Wraps up the episode with actionable takeaways and a focus on education. Actionable Takeaways: Evaluate Your Net Worth (00:41:02): Understand which assets you can access and how to plan for FI. Diversify Investments (00:29:40): Consider balancing investments in taxable brokerage accounts alongside retirement accounts. Learn About the Roth IRA Conversion Ladder (00:29:00): A significant strategy for accessing retirement funds early without penalties. Related Resources: Brandon's Article on Accessing Retirement Funds Early (00:28:19) ChooseFI Episode 475 - How to Access Retirement Accounts Before 59 and a Half (00:28:19) FAQs: What is the middle-class trap? The middle-class trap refers to individuals who seem wealthy but find their assets inaccessible, mostly tied up in home equity and retirement accounts. (00:02:37) How can I access my retirement funds before 59 and a half? Strategies include the Roth IRA conversion ladder and substantially equal periodic payments. Consult a financial advisor for personalized guidance. (00:28:19) Discussion Questions: How does the middle-class trap affect your perception of financial independence? (00:05:12) What strategies can you implement to better access your funds in retirement? (00:28:19) Does home equity play a significant role in determining your financial independence? (00:14:18)

In this episode of ChooseFI, hosts Brad and Sean Mulaney dive deep into tax strategies crucial for financial independence, focusing on tax basketing, asset location, and effective use of retirement accounts. The conversation includes recent changes regarding 529 plans funding Roth IRAs and reassurances for those starting their financial journey at any age. FI Tax Guy | What to know about the ins and outs of the new SECURE 2.0 529-to-Roth IRA rollover provision Read Article  Fidelity's 529 Withdrawal Guide The Shockingly Simple Math Behind Early Retirement Schwab Guide on How to Sell Specific Lots Note from Sean Sean also wanted to clarify that in order to qualify to use the IRS Joint Life and Last Survivor Expectancy table to compute required minimum distributions for the older spouse, the older spouse must be more than 10 years older than the younger spouse and the younger spouse must be the 100 percent primary beneficiary. Key Topics Discussed: Question from Jay regarding tax strategies 00:00:53 Exploration of tax drag vs. tax strategies for high savings rates Discussion on Tax Basketing 00:01:38 Explanation of asset location and tax implications for early retirees Query about 529 Plans and Roth IRA Conversions 00:10:59 Recent changes in Secure Act 2.0 regarding 529 accounts Advice for Starting Financial Independence at Age 35 00:17:42 Encouragement that it's never too late to start financial independence Explaining Capital Gains and Taxation 00:25:23 Understanding tax on gains from asset sales and strategies for minimizing it Options for Late Savers 00:30:27 Discussion on optimal retirement account strategies at different life stages Final Thoughts and Resources 00:51:12 Recap and resources for listeners to further explore these topics Actionable Takeaways: Consider tax basketing to optimize your investment strategy in retirement accounts. 00:10:04 Explore Roth conversions annually to potentially minimize RMDs and tax burdens. 00:36:46 Start your financial independence journey today, regardless of your current age or financial situation. 00:22:10 Key Quotes: "Tax drag isn't really much of a thing at all." 00:03:07 "It literally takes $0 to start." 00:18:22 "This is an opportunity, not a problem." 00:10:04 "You do not need a backdoor Roth IRA." 00:24:11 "It's never too late to start on the path to FI." 00:22:41 Timestamps: 00:00:53 Tax Strategies 00:01:38 Tax Basketing Discussion 00:10:59 Roth IRA from 529 Plans 00:17:42 Starting at Age 35 00:25:23 Capital Gains Taxation 00:30:27 Strategies for Late Savers 00:51:12 Final Thoughts Discussion Questions: How can tax basketing improve your investment strategy? 00:10:01 What steps can you take to maximize the benefits of a backdoor Roth IRA? 00:24:11 What financial actions can individuals take today to start their path to financial independence? 00:22:10 FAQs: What is tax basketing? Tax basketing refers to the strategic allocation of various asset types (Roth, traditional, taxable) to minimize tax liabilities. 00:10:01 How does the Secure Act 2.0 affect 529 plans? The Secure Act 2.0 allows for up to $35,000 from 529 plans to be transferred to a beneficiary's Roth IRA. 00:11:21 Is it too late to start financial independence at age 35? Absolutely not; starting at 35 can still lead to successful financial independence with the right strategies. 00:22:10

In this episode we answer emails from Harry, Sally, Jack and Javon.  We discuss recovering from financial set-backs, my life on the Choose FI board, assets that do well in inflationary environments and large cap growth funds like MGK in Merriman-type portfolios.Links:Father McKenna Center Donation Page:  Donate - Father McKenna CenterMindset by Carol Dweck:  Mindset: The New Psychology of Success by Carol S. Dweck | GoodreadsBloomberg Presentation On Investments In Inflationary Environments:  MH201-SteveHou-Bloomberg.pdfShannon's Demon Article from Portfolio Charts:  Unexpected Returns: Shannon's Demon & the Rebalancing Bonus – Portfolio ChartsTestfolio Analysis of MGK and other funds:  testfol.io/analysis?s=lbssElueG9DAmusing Unedited AI-Bot Summary:When financial disaster strikes, where do you turn? In this deeply empathetic episode, Frank Vasquez responds to a listener who's lost nearly everything through leveraged investments caught in market turmoil. His compassionate yet practical response offers a roadmap back from financial devastation, emphasizing that starting from net worth zero with income potential creates a foundation many successful investors have built upon.The conversation shifts to examining the psychology behind financial social media, where Frank taxonomizes poster behaviors into revealing categories. From genuine question-askers to Dunning-Kruger sufferers repeating harmful advice from financial media marketing materials disguised as guidance, this analysis helps listeners navigate confusing information landscapes. His take on affirmation-seekers posting humble brags or seeking validation for poor decisions provides particular insight into why certain destructive financial ideas persist online.With inflation concerns mounting due to potential tariffs and immigration restrictions, Frank offers practical portfolio protection strategies beyond traditional TIPS, which merely help investors tread water rather than outperform during inflationary periods. His breakdown of managed futures, commodities, value-tilted stocks in hard assets, and property/casualty insurance companies provides actionable alternatives. The discussion culminates in comparing investment theorist Paul Merriman's value-tilted ETF recommendations with Frank's diversification approach using Shannon's Demon principles, demonstrating how different philosophical frameworks can lead to successful long-term investing.What distinguishes this episode is Frank's ability to balance technical expertise with emotional intelligence, offering not just investment strategies but wisdom about resilience and perspective during financial hardship. Whether you're recovering from losses or preparing for economic uncertainty, this episode delivers both tactical guidance and reassuring wisdom from someone who's weathered financial storms himself.Have questions? Connect at frank@riskparityradar.com or through the website contact form. Please like, subscribe, and share with fellow investors seeking thoughtful financial guidance.Support the show

Embracing Aging, Community, and Financial Independence Episode Summary: In this enlightening episode of ChooseFI, host Ginger talks with Vicki Robin, renowned author of Your Money or Your Life. The conversation delves into the complexities of aging, the importance of community connections, and how financial independence plays a critical role in preparing for older age. Vicki shares her journey of self-reflection, encouragement towards active community engagement, and the necessity of discussing aging openly to combat the feelings of irrelevance that often accompany it. Key Topics & Timestamps: 00:00:00 Introduction & Guest Description Ginger introduces Vicki Robin as an influential figure in the financial independence movement. 00:01:26 Discussing Myths of Aging The episode begins with a discussion on the myths of aging, including misconceptions about wisdom and relevance in older age. 00:02:34 Loneliness Among Older People Vicki highlights the loneliness many older individuals face and the societal perceptions that contribute to their feelings of invisibility. 00:10:12 Preparation for Aging The importance of preparation for older age is discussed, emphasizing that planning ahead aligns with financial independence principles. 00:16:10 The Importance of Community Vicki stresses the value of building genuine connections and participating in community activities to alleviate feelings of isolation. 00:22:40 Personal Stories and Experiences Vicki shares personal stories about her reflections on aging, her experiences with community building, and how they've influenced her life. 00:44:00 Self-Reflection and Aging The conversation concludes with a focus on self-reflection as a valuable tool for finding meaning in the aging process. Key Quotes: "Older people have valuable stories and insights to share." 00:01:49 "Feeling irrelevant is one of the biggest pains of aging." 00:02:56 "Preparing for older age is essential and aligns closely with FI principles." 00:11:35 "Building genuine connections is vital for well-being." 00:16:10 Actionable Takeaways: Engage in community activities: Aim to be a regular presence in local spots, fostering genuine connections. 00:19:04 Plan for your future: Reflect on your older self and consider what preparations you can make now. 00:11:35 FAQs: How can younger people prepare for aging? Engage with the community and focus on building relationships. 00:17:29 What role does community play in aging? Community provides support and helps alleviate feelings of loneliness in older age. 00:19:04 How does financial independence relate to aging? Financial independence allows for proactive preparation for older age, ensuring comfort and care. 00:11:35 Resources Mentioned: Your Money or Your Life - Book Link

Episode 13: Episode 279: Episode Summary: Lexi, a first-grade teacher from Las Vegas, shares her journey into personal finance, revealing how finding ChooseFI empowered her financial goals. Initially focused on homeownership, her perspective shifted during the COVID housing market boom, leading her to invest in her skills and explore high-yield savings accounts. The support of the local ChooseFI community helped optimize her retirement accounts and reshape her views on wealth and financial independence. Timestamps: 00:02:01 - Lexi's beginnings in personal finance and saving 00:04:51 - Discovering high-yield savings accounts 00:10:50 - The value of community support through ChooseFI 00:11:53 - Discussion on investing in retirement accounts 00:30:50 - The transformation in Lexi's approach to saving 00:35:07 - Lexi's reflections on passion for teaching and financial freedom 00:42:48 - Conclusion and call to action for joining local groups Key Takeaways: Homeownership Pressure: Lexi reveals how society's pressure on homeownership impacted her financial journey and how she reevaluated her goals. (00:02:45) High-Yield Savings Accounts: Discovering these accounts changed Lexi's savings approach, showcasing how money can work for her instead of just sitting idle. (00:04:51) Community Impact: Engagement with the ChooseFI local community provided valuable insights for optimizing retirement accounts and support from like-minded individuals. (00:10:50) Investment Strategies: Lexi shares her investment strategies including discussing Roth IRAs, 403(b)s, and 457 plans, stressing the importance of tax advantages. (00:11:53) Financial Awareness: Lexi emphasizes the importance of understanding fees in retirement accounts and the potential savings strategies available. (00:14:21) Pursuing Passion: Through smart financial planning, Lexi expresses her desire to remain a passionate teacher, without the burden of financial constraint. (00:35:07) Actionable Takeaways: Explore high-yield savings as a strategy to grow your savings more effectively. (00:04:51) Engage with local community resources to access valuable financial education and support. (00:10:50) Broaden financial goals beyond homeownership to include savings and investment strategies. (00:02:45) Key Quotes: “Rethinking my single aim of homeownership shifted my perspective on financial success.” (00:06:40) “My money is now working harder than I ever imagined!” (00:06:40) “If you are in public service sector, do some research; many might hold undiscovered advantages.” (00:14:21) Featured Resources: Books Discussed:  Quit Like a Millionaire book: (00:19:17) Just Keep Buying by Nick Maggiulli (00:19:39) Discussion Questions: How can community support enhance individual financial journeys? (00:10:50) What are the downsides of homeownership versus renting? (00:39:05) What alternative financial goals could one consider instead of simply owning a home? (00:02:45) Join the Community: If you haven't yet, join a local ChooseFI group to expand your financial education and network with others on similar paths. Visit ChooseFI.com/local for more information.

Ginger interviews Brad as they delve into the personal side of financial independence, focusing on the real struggles and triumphs behind the scenes of ChooseFI. The conversation emphasizes the importance of relatability and the idea that financial independence is accessible to everyone, not just experts. They discuss 'one more year syndrome,' the impact of financial independence on personal relationships, and how valuing experiences over material possessions enriches life. The ChooseFI Member's Platform is now live!

Introducing The 'Wouldn't It Be Cool If' Series Episode Summary: 2025 marks the start of an exciting new era for ChooseFI! In this episode, hosts Jonathan and Brad dive into the journey to financial independence—what it means, how to define your FI number, and why taking control of your finances is crucial. Plus, we're evolving! This year, we're harnessing the power of community to crowdsource the best personal finance strategies—with your help. Tune in and be part of the movement shaping the future of ChooseFI! Create an Account on the Choosefi Community Platform ChooseFI Platform  

In this episode of ChooseFI, co-host Brad sits down with Jordan Grumet, author of The Purpose Code, to discuss the crucial differences between "big P" purpose and "little p" purpose. They explore how identifying small, meaningful activities can bring joy and fulfillment to life. Jordan elaborates on turning regrets and childhood joys into "purpose anchors" and emphasizes actionable strategies to create a life filled with purpose through clarity, agency, and incremental changes. Key Topics Discussed: Introduction to Jordan Grumet and The Purpose Code (00:00:00) Brad introduces Jordan and discusses the significance of his upcoming book. Understanding Little P Purpose vs. Big P Purpose (00:01:43) Big P purpose is goal-oriented and often feels like a scarcity mindset, whereas little p purpose is about engaging in activities that bring joy without the pressure of specific goals. Little p purpose focuses on enjoyment and engagement rather than large achievements; every step counts. The Role of Meaning in Happiness (00:03:28) Discussing how happiness is derived from both meaning (derived from the past) and purpose (driving present actions). Identifying Purpose Anchors (00:17:02) Jordan explains the importance of purpose anchors, small activities that light you up, and provides strategies to identify them. Practical Strategies for Creating Purpose (00:16:37) Steps to create a meaningful life around little p purpose, emphasizing actionable changes. Creating Your Own Purpose (00:16:37) "Purpose is not found; it's created." Focus on engagement in joyous activities. Life Review and Reflection (00:18:06) Use regrets as insights to identify what truly matters to you. Engagement and Action (00:30:20) The importance of scheduling time for activities that bring joy and fulfillment. Community and Connection (00:38:01) Engaging in pursuits that light you up can lead to creating meaningful connections with others. Identify Your Purpose Anchors (00:17:32) Reflect on activities that spark joy or interest and incorporate them into your routine. Reframe Past Regrets (00:18:30) Utilize narrative therapy techniques to change your perspective on past experiences. Make a Weekly Joy List (00:36:06) Create a list of activities that bring you happiness and prioritize them in your life. Quotes: "You create your purpose, don't just find it." (00:16:37) "Little p purpose can create big impacts." (00:36:26) "To have a good death, live a good life." (00:35:17) "Choose to be in a good mood; it shapes your life." (00:06:00) Related Resources: The Purpose Code: How to Unlock Meaning, Maximize Happiness, and Leave a Lasting Legacy by Jordan Grumet - Link to Book

Our Favorite episode of the year, listeners share their remarkable financial wins and transformations throughout the year. These stories highlight the power of financial independence (FI) and showcase actionable steps taken by individuals and families on their journeys. Timestamped Key Topics: 00:00:25 Celebration of Listener Wins Jonathan and Brad express excitement about sharing audience achievements over the year. 00:02:44 Defining Financial Independence (FI) FI is described as a deliberate journey towards achieving financial freedom. 00:18:16 Justin's Nomadic Journey Full-time nomadic living after becoming debt-free and embracing minimalism. Key Insight: Prioritizing meaningful experiences over material possessions. 00:23:29 Heather's Second-Generation FI Financial planning for their newborn, including establishing a stock account and 529 plan. Key Insight: Early financial education can set up children for future success. 00:25:02 Mike's Family Resilience Overcoming medical challenges by managing finances effectively, including successful cash flow management. Key Insight: Financial resilience allows families to navigate unexpected life events without jeopardizing their stability. 00:31:10 Crystal's Maxed Accounts Achieving maximum contributions in retirement accounts and leveraging travel rewards for vacations. Key Insight: Small changes in financial habits can dramatically improve long-term wealth accumulation. 00:56:59 Rick and Kelly's Transformation Discovering FI later in life and actively working to improve their financial situation. Key Insight: It's never too late to take control of your finances and retire earlier than expected. 01:04:36 Jake's Entrepreneurial Leap Quitting a job to pursue entrepreneurship, finding clarity on his goals and values through FI principles. Key Insight: Understanding what you truly want in life can guide major career choices

Brad shares insights from his life-changing trip to Asia and how it reshaped his perspectives on connection and gratitude. He highlights the importance of direct human interactions and how travel exposes the beauty of our shared humanity. Ginger emphasizes the value of taking risks to build relationships and the significance of continuous learning. Additionally, they discuss the upcoming changes at ChooseFI, including the ability to interact with experts and community engagement through questions. They also touch on upcoming changes with Southwest flights and the importance of utilizing travel rewards effectively. 00:00:55 - Brad's Trip to Asia Discussion of Brad's transformative 23-24 day trip and the importance of taking a “mini retirement.” 00:05:53 - The Importance of Connection Key insight: "Connection is the key to a fulfilling life." Travel reveals shared humanity and fosters real connections. 00:08:07 - Travel as Personal Growth Importance of stepping outside comfort zones and embracing risks for growth. Discussion on solo travel and unexpected friendships formed during the trip. 00:20:02 - Community and Financial Independence Ginger shares how being part of a community can enhance the financial independence journey. 00:27:12 - Upcoming Changes in ChooseFI Introduction of community engagement and expert interaction. 00:31:10 - Southwest Flight Changes Changes coming to Southwest, including assigned seating starting in 2026. 00:49:00 - Public Service Announcement Reminder to file the beneficial ownership information report by December 31st. 01:07:11 - Listener Feedback Discussion of listener input regarding accessing retirement accounts and Sean Mulaney's follow-up insights. Keypoints Embrace risks for greater rewards in connection and life. (00:09:07) Intentionality shapes success; be deliberate in your actions. (00:24:39) Stay engaged; automation shouldn't make you complacent. (01:02:47) Recognize the importance of real human connections in everyday life. (00:05:53) Use travel to gain new perspectives and enrich your life. (00:08:36) Implement automation in personal finance to lower stress. (00:58:03) Related Resources: Daniel Kahneman's 'Thinking, Fast and Slow' Book Link (00:15:54) Scott Adams' 'How to Fail at Nearly Everything and Still Win Big' Book Link (00:12:05)

Someone recently asked me: "How did you reach FI?" I didn't have a great answer for them that didn't take 30+ minutes to explain. So, I recorded a podcast episode outlining my entire FI Journey - all the numbers, all the income streams, all the expenses, year over year. Below are the notes I created to guide the episode. 2016 Read the 4-Hour Workweek Started my first real business, Arsenal Discs Learned how to build a website, marketing, sales, networking, negotiations, pricing, product design… all the HARD way 2017 Discovered FI through Mr. Money Mustache Started listening to podcasts like ChooseFI and Afford Anything Read books like Simple Path to Wealth and Your Money or Your Life Learned about side hustles, taxes, the 4% rule, etc. Despite all this, didn't really have any money since I was paying for college Locked in job for July 2018, plan was to work 7-10 years to hit FI 2018 Went to CampFI in January and FI became “real” Lived in Australia with lots of time on my hands and started side hustling after being unable to find a regular job Blog launched in April 2018 to document my journey Started working as a commercial RE lender in July 2018 once I returned to the U.S. All-in comp was $80-85k Knowing that FI existed was a blessing and a curse Launched podcast in August 2018 (nothing else like it) FinCon 2018 (CampFI on steroids) - met Grant and others By the end of that year, I had tried a dozen new side hustles (blogging, podcasting, freelance writing, building websites, editing podcasts, affiliate marketing, digital products, etc) Income: $44,000, Net worth: $75,000, Stock market: -6.24% 2019 Quit my corporate job on January 31, 2019 with $30,000+ saved Side hustles were bringing in $1,200 per month, but my expenses were the same ($450 rent, paid off car, super frugal) Financial Freedom book tour March-May of 2019 Teamed up with Julie to launch Gold City Ventures in June 2019 So many people asking for 1-on-1, wanted to teach at scale Most of my time after that was spent working on Gold City Ventures Practicing my craft to teach better Managing a community, recording & packaging content, hiring people Originally launched E-Printables, a blogging course, and a freelancing course LOTs of learning lessons from this business Income: $96,000, Net worth: $179,000, Stock market: 28.88% 2020 Went all-in on digital products (dropped blogging and freelancing from GCV) Etsy shop, Shopify store, templates, etc. Continued to live extremely frugally (spending less than $25,000/year) Bought 3-unit house hack in September 2020 $235,000, we lived in the basement, rent $2,200, expenses $1,700 Bought duplex in November 2020 $170,000, rent $2,250, expenses $1,350 Bought 3-unit house hack in December 2020 $315,000, we moved to 1BR/1BA, rent $2,600, expenses $2,100 First house hack jumped to $3,000 in rent once we moved out Income: $198,000, Net worth: $392,000, Stock market: 16.26% 2021 Started freelancing for Motley Fool (who acquired MillennialMoney.com) Extra $10K/month, SEO, “thinking big”, awesome team Bought triplex in May 2021 $245,000, rent $2,900, expenses $1,900 ~$200,000 in down payments came from digital product income Gold City Ventures continues to grow rapidly Income: $403,000, Net worth: $1,035,000, Stock market: 26.89% Financial Freedom!  Had RE making $3,000+ in cash flow, $500,000+ invested in the stock market In addition to the semi-passive $20,000+ per month I was earning with digital products Since I reached financial independence, I have continued to work on my main business, Gold City Ventures and invest 90%+ of my income into index funds and real estate. Links from the Episode CodyDBerman.com (previously FlytoFi) The FI Show (first episode)

Now that we've covered the importance of investing, types of retirement accounts, and the difference between Traditional and Roth, we're moving on to discuss what to actually buy inside these accounts. What should you be investing in? How do you choose your investments? Sarah is here to teach us about index funds, how to interpret expense ratios, and the difference between dollar cost averaging and lump sum investing.  If these terms are foreign to you or sound overwhelming, do not fear! Today's episode is all about breaking down investing into manageable, easy to understand steps that you can start implementing today.  Sarah is a personal finance nerd who learned about finances and investing from an early age from her father and grandfather, who both spent their careers in the corporate finance world. As an adult, Sarah immersed herself in the personal finance and FIRE spheres, learning from top experts. Sarah is my personal go-to for all financial questions, and she's here to share her knowledge with all of you! SPONSORS AAPA Job Source: aapa.org/pajobsource ⁠1-ON-1 NEGOTIATION CONSULT https://calendly.com/the-pa-is-in/negotiate⁠  CONNECT WITH SARAH Email: sjmvirtualsolutions@gmail.com LinkedIn: linkedin.com/in/sarah-miller-pa-va/ RESOURCES Previous episodes in Back to Basics Money Series:  283: Back to Basics: Meet Sarah 287: Back to Basics: What Actually IS Investing? 290: Back to Basics: Traditional versus Roth - What's the Difference? ChooseFI: https://choosefi.com JL Collins website: https://jlcollinsnh.com JL Collins book: The Simple Path to Wealth  COACHING ⁠1-ON-1 NEGOTIATION CONSULT https://calendly.com/the-pa-is-in/negotiate⁠  ⁠FREE 30-MINUTE COACHING CONSULT⁠ ⁠https://calendly.com/the-pa-is-in/gen-call⁠   LINKS EPISODE BLOG POST https://www.tracybingaman.com/blog ⁠TRACY ON INSTAGRAM https://www.instagram.com/mrstracybingaman/⁠ ⁠TRACY ON LINKEDIN https://www.linkedin.com/in/tracybingaman/⁠ SUPPORT THIS PODCAST: https://podcasters.spotify.com/pod/show/thepaisin/support --- Support this podcast: https://podcasters.spotify.com/pod/show/thepaisin/support

Justin David Carl shares his remarkable journey from being $80,000 in debt and working in Hollywood nightlife to achieving financial independence and impressive fitness goals. He discusses key principles that guided his transformation, including the importance of environment, community, accountability, tracking metrics, and embracing a growth mindset. Key Topics and Takeaways 00:02:44 Justin's Awakening Moment Discovering financial independence through Mr. Money Mustache and ChooseFI. Justin shares his early struggles with debt and the turning point that launched his journey. Overcoming Debt and Personal Challenges Justin candidly discusses his past, including addiction and the shame spiral from unresolved financial issues. He emphasizes that confronting these struggles was key to his transformation.  "Depression can serve as a reset for your psyche."  The Role of Coaches in Growth The impact of hiring coaches for guidance in both fitness and financial success. Tracking as a Tool for Success Justin emphasizes the importance of tracking both financial metrics (expenses, savings rate) and fitness metrics (nutrition, workouts). Key Quote: "What gets measured gets managed." 00:48:40 "Boost your savings rate to build wealth faster." 00:32:49 Principles for Continuous Growth Justin shares three core principles: You are the average of the five to ten people you spend the most time with. You are a product of your environment. You are what you consume. Action Item: Evaluate your current environment and the people you are spending your time with.  Additional Resources Fit Rich Life Coaching: fitrichlifecoaching.com Savings Rate Tracker: fitrichlifecoaching.com/tracker Workout Program: fitrichlifecoaching.com/workout Tim Ferris Article on Mr Money Mustache The Shockingly Simple Math of Early Retirement Social Media Follow Justin on Instagram: @JustinDavidCarl "It's never too late for a second chance." 00:18:03 "Your consumption shapes who you are." 00:56:02 Discussion Questions How can tracking financial habits influence our spending? 00:32:33 What strategies can we implement from a growth mindset perspective? 00:20:38

  Episode Summary Clint Murphy returns to ChooseFI, sharing his transformative journey labeled "FI and Choose," emphasizing the importance of choosing a lifestyle that values personal growth and meaningful connections. The hosts discuss their experiences at financial independence events, highlighting how these gatherings foster deep conversations that extend beyond finances. They explore the contrast between accumulating wealth and Pursuing a simpler, more intentional life filled with enriching experiences, including joy from low-cost activities and being present in relationships. Key Topics Discussed Connection Through FI 00:02:20 The importance of community in financial independence events. Shared experiences and personal growth discussions among participants. The Power of Vulnerability 00:06:00 Opening up in conversations to foster deeper connections. Embracing quirks and eccentricities to enhance relationships. Simplicity and Enjoyment 00:10:30 Finding joy in low-cost activities, such as playing pickleball. The realization that enjoyment doesn't require significant spending. FI and Choose Philosophy 00:46:00 The idea that achieving financial independence offers choices about how to live life. Aligning personal ambitions with the simplicity of life. Actionable Takeaways Explore Joyful Activities: Engage in activities that bring joy without high costs 00:10:30. Build Deeper Relationships: Foster relationships through open and vulnerable conversations 00:06:00. Related Resources The Growth Guide Podcast: thegrowthguide.com

In this episode we answer emails from Gordon, Roger and John.   We discuss the ChooseFI podcast and podcast appearances, modern trends in fund construction and considerations with leveraged funds while transitioning to a drawdown portfolio, along with some basic guidelines.And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:Roger's Bloomberg Article:  Goldman's Kostin Urges Putting Brake on Stock-Index Reshufflings - BloombergReturn Stacked Webinar:   Diversification 2.0: Mastering the Art of Portable Alpha (youtube.com)Amusing Unedited AI-Bot Summary:Ever wondered how to construct a portfolio that balances risk and return while maximizing your investment potential? On this episode of Risk Parity Radio, we promise to demystify the art of alternative asset allocation for all you do-it-yourself investors out there. Join me, Frank Vasquez, as we transform a complex topic into an engaging conversation reminiscent of a meet-up at your favorite dive bar. We'll share our latest portfolio updates, address intriguing listener questions, and explore the emerging industry of podcast guesting, with a special nod to Gordon for his feedback on my recent appearance on the ChooseFI podcast.How do index funds really work, and could their construction hold the key to better diversification? Listen in as we tackle these questions, dissecting the process of index fund innovation and highlighting the shift from traditional cap-weighted indexes to the realm of sectors, factors, and thematic indexes. We explore the exciting potential of algorithm-driven fund construction and replication strategies, inspired by examples like the DBMF Managed Futures Fund. This episode uncovers the abundant opportunities that ETF experimentation brings to savvy investors looking to broaden their horizons with advanced strategies.Looking to craft a retirement drawdown portfolio that stands the test of time? We guide you through the nuances of constructing a portfolio that supports sustainable spending rates while leveraging funds for enhanced returns. Using John's real-life portfolio as a case study, we analyze components like NTSX, AVUV, GLDM, and DBMF, focusing on risk parity and return stacking principles. We also review recent market performance and introduce you to our newest portfolio, Optra. Before signing off, connect with us through our provided contact info, and remember, our content is here to inform and entertain, not serve as professional financial advice.Support the show

In this episode: building muscle for health, sacropenia, consistency and proper form, routines, and recovery. This episode is a deep dive into muscle-building strategies, with actionable advice for beginners and experienced fitness enthusiasts alike. Brad and Dean Turner share practical tips on workout programming, nutrition, and recovery, making it a perfect masterclass for anyone looking to improve their health and strength. Dean Turner: Website: deanturnertraining.com Twitter: @DeanTTraining

In this episode: social engineering, pig butchering, cryptocurrency risks, scammer tactics, and avoiding being a victim. This week Brad speaks with cyber security expert Tom who will be giving some updates on the landscape of cybersecurity, what targeted scams look like, as well as some actionable steps you can take to avoid these scams. Though it may seem that cybersecurity attacks are ever-evolving and may be harder and harder to avoid, there are ways to make yourself less vulnerable to attacks. Making sure you're having open conversations about this topic with your friends, and especially your older family members is crucial and can make sure you avoid falling for these scams! 

In this episode: simplifying your financial life, Jeremy's journey, dividend versus reinvesting, and automation. This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!  Jeremy Schneider: Website: personalfinanceclub.com Instagram: @personalfinanceclub

In this episode: getting started early with FI, the 4% rule, retirement accounts, real estate, and safe withdrawal rates. This episode is packed with actionable information that can help with maximizing your financial future, from house hacking to Roth conversions, and strategies for living off your investments. Brad and Rachael dive into real-world listener questions to help you navigate your FI journey with confidence. 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.

In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community. This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn't mean you should wait until you reach your goal to actually start making the moves to get there! Whether you're near the finish line or just beginning, don't wait to explore other possibilities that can elevate not only your FI journey but your life. 

In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate. This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we've taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you'll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week's episode.

I wanted to share the three numbers that I believe have the most impact on your life, so I invited Brad Barrett of the Choose FI podcast joins me to give his real-time reactions. But, more importantly, the real takeaway we landed on is that every conversation purportedly about money is actually about what it means to live a good life. This is not financial advice; please do your own due diligence. Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/top-3. Money with Katie's mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment. In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you're a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way!

In this episode: surpriseFI, minimalism, frugality, emotional and psychological aspects of FI, and alternative lifestyles. We often get a lot of great ideas and questions from the FI community, and what better way to answer some as well as inspire than bring in one of our own to discuss their journey! In this special Friday episode, Ginger is joined by member of the FI community, Kim, to discuss how she found herself on her “surpriseFI” journey. Together, the pair talks about balancing frugality and minimalism, the importance of designing the life you want, as well as share some resources and recommendations that helped her on her journey!

In this episode: 5% safe withdrawal rate, the three stories, psychology and personal finance, and community. In this insightful episode of the ChooseFI Podcast, Brad chats with Frank Vasquez, a well-known figure in the financial independence community and the voice behind Risk Parity Radio. They delve into Frank's journey from a career in law to becoming a personal finance expert, and explore topics like the 5% safe withdrawal rate, revealed preferences, and Frank's three defining life stories. This conversation offers insight on approaching personal finance, investments, and life after achieving financial independence. Frank shares his unique blend of academic rigor, personal curiosity, and his thoughtful approach to living with purpose in the post-FI world.

In this episode: overcoming fears, the importance of community, community wins, reaching FI goals, and ripple effects. This week Brad is re-joined by Ginger for another installment of the round-up, where we will be discussing topics such as new 529 plans, the importance of making connections within your community, and actionable steps for overcoming anxieties while on your FI journey! Additionally, it wouldn't be a round-up episode without as well as shouting out some frugal wins from our wonderful community! While these episodes are not only a great way for us to give you personal updates and perspectives, it's an even better way for us to highlight some of the tips and tricks you've picked up on your respective FI journeys! 

In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects. This week we are joined by Kyle Nolan, creator and founder of Projection Lab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he's faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it's important to remember that you don't have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback! 

In this episode: debt and investing, the 4% rule, Roth 401k and traditional 401k, and total return investing. This week we are back with a listener Mail Bag featuring returning guest Rachael Camp! Together, we will be answering questions and giving our feedback on nuanced topics asked by the community! Listen along for discussions about the 4 percent rule, how taxes are factored into your FI number, investing in dividends, paying down debt versus investing, and finally a shortlist of actionable steps one could take if they are young and beginning their FI journey. There is much to discuss and so much more to learn this week as we tackle your FI questions!  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.

This week on ChooseFI, Brad welcomes Devon, a 22-year-old National Guard member and aspiring mechanical engineer, to discuss the power of intentionality and personal finance! Together, Brad and Devon explore how small, deliberate actions can create a domino effect in shaping one's financial future. Devon shares his journey from joining the National Guard at 17 to discovering financial independence through ChooseFI, and how his disciplined approach to life has led him to save for his first home, maximize military benefits, and even inspire his peers.

In this episode: roth IRA, 401k, health savings accounts, taxable brokerage accounts, and taxable roth conversions. While we have covered Roth IRA Conversion Ladders on ChooseFI before, we have never in the past taken such a deep dive into the subject like we do in this week's episode! Once again, we are joined by friend of the show Cody Garrett from Measure Twice Money, as we cover a high-level-FI approach to the Roth IRA conversion ladder and ways one could approach propelling themselves into a FI fueled retirement! Cody Garrett: Website: Measure Twice Money YouTube: @MeasureTwiceMoney Resources Mentioned In Today's Episode: Measure Twice Money ChooseFI Podcast Resources Social Security Deep Dive, Sleep Optimization, 24 Thoughts on Investing | ChooseFI Ep. 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep. 163R 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) Get a cheaper phone plan with Mint Mobile

In this episode: travel rewards, frugality, companion passes, international travel, intentional spending, and listener questions. This week Brad is re-joined by Ginger as together they go back to basics during our returning round-up segment! This time around, the pair will be talking about recent travels and hacks they've used, travel rewards tips, answering some community questions, and shouting out some of your FI wins of the week! This episode is a great way to crowd-source new tips for people just beginning their FI journey, from learning how to navigate companion passes when traveling, to learning how to both save and spend your money with intentionality! Resources Mentioned In Today's Episode: Friday Roundup | Huge Announcement | ChooseFI Ep. 22R Travel Rewards ChooseFI Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep. 12 The True Cost Of Car Ownership | ChooseFI Ep. 22 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 Mobile

In this episode: travel rewards, IRA conversions, working with FAFSA, health insurance, and the FI journey. This week we are joined by community member and listener Connie to discuss the beginning of her FI journey, and the transformative steps she's taken to further maximize her journey for her and her family. With so many resources available to learn and assist you while on the path to FI, the influx of information may seem overwhelming. Knowing how to organize the information will allow you to utilize the hacks and tricks that take some of the pressure off, and grant the opportunity for you to adapt and create the life you want!  Resources Mentioned In Today's Episode: Abundo Wealth Advice-Only Network Nectarine Point.me Seats.aero PointsYeah The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 How To Test Out of College While You're Still In High School | Millionaire Educator | ChooseFI Ep 238 Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney | ChooseFI Ep 447 Find Your Local ChooseFI Group The Courage to Take Action | EconoMe LIVE with Doc G | ChooseFI Ep 488 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 Mobile

In this episode: FI numbers, financial independence, approaching problems differently, and adjusting spending to accommodate FI. This week join our host Brad in celebrating 500 episodes of Choose FI, as he talks about the start of his FI journey, and highlights topics and episodes from the last few years. The path to FI isn't just about simplifying your life, but empowering yourself and taking action to design and create the life you want to be living. And while the list is endless for how FI can improve your life, the community you find while on this journey is just as rewarding. Thank you to our listeners and supporters for being on this journey with us!  Resources Mentioned In Today's Episode: “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins The Safe Withdrawal Rate Series The Side Hustle | The Unspoken Lever of FI | ChooseFI Ep 30 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R 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 Mobile

In this episode: limiting beliefs, flipping the script, looking for evidence, empowering beliefs, and imposter syndrome. This week we are rejoined by Jessica from The Fioneers, to discuss the idea of limiting beliefs, from knowing how to identify and define them, to learning to work through and overcome them using her six strategy method. To put this method into practice we workshop two examples of limiting beliefs from FI community members, Samantha and Kyle. While having fears is natural and part of what makes us human, it's important to be able to distinguish what fears are valid and what limiting beliefs are just holding you back. Whether it's believing you're not doing enough on your FI journey, or having a fear of failure, making sure you are continuously working to empower yourself and sift through the self doubt will ensure you live your life with more power and confidence!  The Fioneers: Website: thefioneers.com YouTube: @fioneers Free eMail Course: Overcoming Limiting Beliefs Resources Mentioned In Today's Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins “Wherever You Go There You Are: Time-Tested Principles To Get Unstuck, Expand Your Influence, and Illuminate Your World” by Kyle Collins 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 Mobile  

In this episode, exercise, sleep, nutrition, mind body activities, social relationships, heat and cold exposure. This week we are joined by Dr. Bobby DuBois author and host of Live Long and Well podcast, where we will be discussing health optimization and wellness by deep diving into each of what he calls the 6 pillars: Exercise, Sleep, Nutrition, Mind-Body Work, Heat and Cold Exposure, and Social Relationships, while also providing some actionable takeaways you can do in order to live your healthiest life! The best part of the FI journey is you can create and live the life the way you want, but neglecting your physical and mental health may not allow you to thrive the way you want as you inevitably age. Taking the time and the space to prioritize your health, whether it be big or small, can make such a difference over time, and can ensure you'll be living long into your retirement and well after!  Dr. Bobby Dubois: Website: drbobbylivelongandwell.com Website: Madrone Springs Ranch Podcast: Live Long and Well with Dr. Bobby Resources Mentioned In Today's Episode: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 The Matt Walker Podcast Yoga Nidra – Guided Meditation to Relax | 10min InsightTimer Deep Healing by davidji 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 Mobile

In this episode: full retirement age, earnings, spousal benefits, survivor benefits, filing for benefits, and the earnings test. This week, Mike Piper joins the show to talk all things social security and answer listener questions that arose from our last social security related conversation back in episode 474! Whether it is discussing the full retirement age, discussing when to file for benefits, and different situations and their correlating differing types of benefits, Brad and Mike cover your burning questions so when the time comes you can catapult yourself into retirement confident and comfortably. While the topic of social security can often be confusing, being informed and prepared based on you and your families situation can make approaching it a lot less formidable, so listen along now to be ready down the line when it is your time to file! Mike Piper: Website: opensocialsecurity.com Book: "Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less" by Mike Piper Resources Mentioned In Today's Episode: Social Security Deep Dive | Denis Shapiro | ChooseFI Ep 474 SSA.tools Social Security Calculator Why Are ETFs (Sometimes) More Tax-Efficient Than Mutual Funds? 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 Mobile

In this episode: roth versus traditional IRA, second generation FI, FI and newlyweds, and retirement planning optimization. This week we are diving back into the listener Mail Bag with our returning guest Rachael Camp to answer questions from the community! Today we will be discussing the differences between Roth and Traditional IRAs and the future variables and factors you should consider, as well as discuss the new rules and considerations surrounding 529 plans and how to best financially plan when considering your children and your spouse. Listen along as YOU, the community, dictate the conversation with your hot-button FI questions!  Rachael Camp: Website: rachaelcampwealth.com Twitter: @camp_wealth YouTube: @CampWealth Instagram: @campwealth Resources Mentioned In Today's Episode: Mailbag: Spending Down to Zero, High Fee 401(k), Mini Retirements | Rachael Camp | ChooseFI Ep 485 Limits Of Tax Diversification And The Tax Alpha Of Roth Optimization Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse's Death | Amy | ChooseFI Ep 476 Becoming Work Optional 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 Mobile

In this episode: real estate, lazy landlording, attracting the right tenants, finding ideal situations, and traveling. This week we are joined by returning guest James Lowery to discuss his “lazy landlord” concept to streamline and simplify real estate investing as well as set processes in place that not only make your life easier as a landlord but make it easy for your tenets as well! If you are on the FI journey and curious about adding real estate into your portfolio, whether it be long or short term rental properties, there are ways to make it a more simple process than you might think. With some planning and intentional action, the lazy landlording life could be well within your grasp! James Lowery: Website: rethinktheratrace.com eBook: Tenant Proof Your Property Resources Mentioned In Today's Episode: Vegan Path To FI | ChooseFI Ep. 90 EconoME Conference “The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich” by Tim Ferris “The 4-Hour Body: An Uncommon Guide to Rapid Fat-Loss, Incredible Sex, and Becoming Superhuman” by Tim Ferris BiggerPockets James Lowery: How to Become a Lazy Landlord 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 Mobile

In this episode: financial freedom, starting your own business, you can't sprint forever, buying vs renting, and investing. This week we are rejoined by host of Financial Feminist podcast and creator of Her First 100K, Tori Dunlap, to fill us in on her journey with FI over the last few years, discuss what financial equity and the importance of building financial foundation and literacy among marginalized groups, as well as discuss how financial advice can differ for men and women. While money can be linked with stability and ease in one's life, the real power that comes from personal finance and independence is the freedom it allows you to not only change your life, but instill change in the communities around you. Although there can be times you feel guilt or shame when discussing financial literacy, there are endless resources at your disposal to educate and have you feeling confident. Tori Dunlap: Website: herfirst100k.com Book: “Financial Feminist: Overcome the Patriarchy's Bullsh*t to Master Your Money and Build a Life You Love” Podcast: Financial Feminist Instagram: @herfirst100k Where to Start: Her First 100k Quiz Resources Mentioned In Today's Episode: Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 Marriage Kids and Money The Impact of Fees on Your Investment “The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life” by JL Collins RENTING VS. BUYING: WHAT'S RIGHT FOR ME? 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 Mobile

In this episode: doing everything but not at once, building your extraordinary life, optimizing your time, and what to do after FI. This week we are joined by Alan and Katie Donogan as well as my guest co-host Ginger live from the Design Your Extraordinary Life Weekend event in Las Vegas, where we will be discussing their exercise of envisioning what an extraordinary life can look like in nine designated areas of your life, as well as learning how identify and overcome limiting beliefs that can hold you back from achieving your dream life. Reaching your FI goal can radically change your life and usher in new freedom, but it doesn't necessarily mean all your problems go away. While you may be focused on taking actionable steps to to hit your FI number, it's just as important to take actionable steps to build and create the life you want to be living! By taking account of certain areas of your life and identifying the areas and mindsets that need to be changed in order to achieve your extraordinary life, you will not only be on track to living your best life on your FI journey, but continuing to live it well after you reach the finish line! Alan and Katie Donegan: Website: alandonegan.com YouTube: The Donegans Resources Mentioned In Today's Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 EconoME Conference "The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living" by Ryan Holiday and Stephen Hanselman 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 Mobile

In this episode: RRTTLU, actual risk, actual return, balancing portfolios, understanding your timeline, taxes, and legal situations. This week we are joined by Jesse Cramer of the “Best Interest" blog and podcast to discuss “RRTTLLU”, an acronym that provides a framework and guide of some of the factors one should consider when they start investing. While investing on your own can seem complex with many factors to consider such as your risk tolerance, the potential tax liabilities, and returns; being realistic about what you want to get out of your investment and what timeline you are on will only ensure your success. Considering some of these factors before you start investing can help you to choose your investments smartly, and give you the confidence and self-assurance for when changes or uncertainties come and go!  Jesse Cramer: Website: bestinterest.blog Podcast: The Best Interest Podcast Resources Mentioned In Today's Episode: Join ChooseFI's Facebook Group! Investor Policy Statement | ChooseFI Ep 189 Bucket Your Money The Safe Withdrawal Rate Series “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Answering Your Questions on How to Access Money Before 59.5 | ChooseFI Ep 491 RRTTLLU: That's Not a Typo, Investors 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 Mobile

In this episode: 72t, Roth 401k's, Roth IRA's, The Pro Rata Rule, PUQME, HSA's, Retirement and Education, and Roth Conversions. In one of our faster update episodes ever, friend of the show Sean Mullaney re-joins Brad to follow up on the episode we published back in February, “How to Access Your Retirement Accounts Before 59.5,” as well answer some of the questions our community had around the subject. We in the FI community know that retiring is an option way sooner than we were originally led to believe, so listen along as Brad and Sean shed some light on ways you could potentially access your retirement savings before facing the edge of your golden years. Sean Mullaney: Website: fitaxguy.com Website: mullaneyfinancial.com Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideos Timestamps: 1:05 – Introduction 1:58 – Optimizing for 72t 10:25 – Roth Conversions and Premium Tax Credits 22:21 – Roth 401k and Roth IRA 27:08 – The Pro-Rata Rule 36:17 – PUQME and HSA's 45:39 – Using Retirement Withdrawals for Education 50:40 – The Rule of 55 and Solo 401k's 55:11 – Marriage and Taxes 61:32 – IRA and Health Insurance Premiums 64:13 – Conclusion Resources Mentioned In Today's Episode: How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Forget About Money Podcast Accessing Retirement Accounts Prior To Age 59.5 Do You Have a Hidden Roth IRA? Retirement topics: Exceptions to tax on early distributions 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 Mobile

In this episode: events, community, travel rewards, medidations, mini retirements, travel wins, and travel points. This week we are back with friend of the pod Ginger to discuss a mixed bag of topics, such as attending FI events, travel rewards and companion passes, as well as the idea of a “mini” retirements and what that can look like while on the path to FI. However, this episode isn't titled "The Ultimate Random Show" for nothing, as we branch off in quite a few different directions as we cover those topics. As opposed to having us try and describe it for you, it may be best to go ahead and hit play so you can see for yourself! New ChooseFI shirts are now available here! Timestamps: 0:47 – Introduction 1:42 – Events and Community 11:59 – Travel Rewards 21:41 – Meditation 24:46 – Brad's Phoenix Trip 31:40 – What We Are Listening To/Mini Retirements 45:11 – Travel Points/Wins 51:32 – Conclusion Resources Mentioned In Today's Episode: The Donegans Afford Anything EconoME Conference Insight Timer Mile High FI Coach Carson Mr. Money Mustache & Car Free Living at Culdesac | MHFI 207 Forget About Money How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Mindy On Money Retire Often Best Tools for Booking Hotels with Points & Miles with Greg the Frequent Miler Points Yeah Points.Me Seats.Aero 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 Mobile

Drop the mic! ChooseFI's Brad Barrett takes the host role in this special episode, interviewing Paula Pant about the financial independence community. This episode was recorded LIVE at a comedy club in Brooklyn, as the final installment of the Episode 500 and 501 celebration. For more information, visit the show notes at https://affordanything.com/episode501 Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode: connecting points, the power of FU money, the early retirement era, and enjoying the journey. This week we are joined by returning guests, Steven and Lauren Keys from Trip of a Lifestyle, to update us on their FI journey and “early retirement era,” as well as discuss the importance of finding the courage and freedom to make radical lifestyle changes in the present. We all know that money can open up new opportunities in your life, whether it's having the flexibility to leave your job for a better one or even relocating to a dream country, but most of us forget that these opportunities can be achieved sooner than you think! The journey to FI is about taking actionable steps to build and achieve the life you want, and you don't have to wait until you're fully retired to do it! While you're starting to save and spend less, remember that you're getting closer and closer to your goal, but even still that it's not a poor decision to spend money on things that are important to you and can improve your life!  New ChooseFI shirts are now available here! Trip of a Lifestyle: Website: tripofalifestyle.com Instagram: @tripofalifestyle Crambetter: crambetter.com Timestamps: 0:46 – Introduction 3:12 – Connecting Points 6:39 – Taking Money Out of the Equation 13:14 – The Power of FU Money 23:39 – Getting to The Early Retirement Era 33:27 – Investing 44:59 – Paying Yourself Last? 48:39 – Enjoying the Journey/Setting Yourself up for Success 58:13 – Conclusion Resources Mentioned In Today's Episode: Trip of a Lifestyle to All US National Parks | ChooseFI Ep 226 We Took a 3-Month Vacation and Came Home $26,000 Richer How We Saved $100k in 2 Years on Teacher Salaries We Vacationed Our Way to $1 Million by Age 33 (and You Can Too) Inside the Investment Portfolio of Early Retirees Pay Yourself Last: Why You Don't Need A Budget 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 Mobile

Enjoy Part 2 of our two-part Episode 500 special, recorded live at a comedy club in Brooklyn. Host Paula Pant and special guest Brad Barrett from ChooseFI answer questions from the audience, live on stage. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Enjoy Part 1 of our two-part Episode 500 special, recorded live at a comedy club in Brooklyn. Brad Barrett, host of the ChooseFI podcast, joins us on stage to talk about what financial independence ideas and practices have changed … and what ideas and practices have remained consistent, universal and time-tested throughout the years. For more information, visit the show notes at https://affordanything.com/episode500 Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode: courage from community, what to do next, overwhelm, finding community, and the evolution of FI. Live from the EconoMe Conference in Cincinati Ohio, Brad is joined by Jordan "Doc G" Grumet and a room full of passionate members of our community to discuss finding the courage to take action in your FI journey. While we understand money can be a north-star for many early in your venture towards FI, what happens once money is no longer the root of your goals? Where do you shift your focus to next? Well, sometimes finding answers to these questions is a little easier when you have help from some of your friends. Listen along as Jordan, Brad and our community speculate on their ideas for what their next steps are. Doc G: Website: earnandinvest.com Podcast: The Earn and Invest Podcast Timestamps: 0:41 - Introduction 1:41 - Courage From Community 7:40 - Roger and What To Do Next? 20:31 - Allison and Finding Community 30:15 - What/Where is the Overwhelm 34:49 - The Evolution of FI/Being The Change You Want To See 41:11 - Reconciling With Social Responsibilities 44:34 - Charitable Giving 47:21 - Interacting Outside of The Community 51:55 - Conclusion Resources Mentioned In Today's Episode: Retire Often FI Freedom Retreat Mr Money Mustache CampFI FinCon "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Josh Overmeyer EconoMe Alan Donegan Find Your Local ChooseFI Group Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars | ChooseFI Ep 483 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 Mobile

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 Mobile