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Best podcasts about Merriam

Latest podcast episodes about Merriam

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for December 3, 2021 is: galvanize • GAL-vuh-nyze • verb Galvanize means "to cause (people) to take action on something that they are excited or concerned about." // The council's proposal to close the library has galvanized the town's residents. See the entry > Examples: "I think circumstances we've been through helped get us to this point. Whether it is the natural disaster, the pandemic or some of the tough losses … all of it helped galvanize this team." — Dwain Jenkins, quoted in The Advocate (Louisiana), 19 Oct. 2021 Did you know? Luigi Galvani was an Italian physician and physicist who, in the 1770s, studied the electrical nature of nerve impulses by applying electrical stimulation to frogs' leg muscles, causing them to contract. Although Galvani's theory that animal tissue contained an innate electrical impulse was disproven, the French word galvanisme came to describe a current of electricity especially when produced by chemical action. English borrowed the word as galvanism, and shortly after the verb galvanize came to life.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for December 2, 2021 is: smarmy • SMAR-mee • adjective Smarmy means "behaving in a way that seems polite, kind, or pleasing but is not genuine or believable." // Online reviews of the resort warned of smarmy street vendors when wandering from the tourist areas. See the entry > Examples: "Before [Daniel Craig], James Bond was portrayed by Sean Connery as suave and immovable; by George Lazenby as vulnerable and tragic; by Roger Moore as smarmy and loose…." — Aidan Whatman, Whatculture.com, 7 Oct. 2021 Did you know? The history of smarmy is oily. Etymologists don't know where smarm (the verb from which it is based) came from, but they do know that it meant "to smear" or "to make smooth or oily" before gaining the meaning "to flatter." The adjective smarmy comes from the latter meaning.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for December 2, 2021 is: smarmy • SMAR-mee • adjective Smarmy means "behaving in a way that seems polite, kind, or pleasing but is not genuine or believable." // Online reviews of the resort warned of smarmy street vendors when wandering from the tourist areas. See the entry > Examples: "Before [Daniel Craig], James Bond was portrayed by Sean Connery as suave and immovable; by George Lazenby as vulnerable and tragic; by Roger Moore as smarmy and loose…." — Aidan Whatman, Whatculture.com, 7 Oct. 2021 Did you know? The history of smarmy is oily. Etymologists don't know where smarm (the verb from which it is based) came from, but they do know that it meant "to smear" or "to make smooth or oily" before gaining the meaning "to flatter." The adjective smarmy comes from the latter meaning.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for December 1, 2021 is: derrick • DAIR-ik • noun A derrick is a tall framework over an oil well that supports equipment used in drilling. // Areas of the desert have become fields of oil derricks. See the entry > Examples: "Oil derricks dot the coastline, often scattered in between residential and shopping centers with views of the ocean." — The Examiner (Washington, D.C.), 22 Oct. 2021 Did you know? During the reign of Queen Elizabeth I, London was the home of a notorious executioner named Derick. Among those he beheaded was the Earl of Essex, Robert Devereux, who supposedly had once saved the life of the ungrateful executioner. While members of the nobility were accorded the courtesy of beheading, it was the lot of commoners to be hanged, and those sent to face the rope at the hands of the executioner Derick nicknamed the gallows after him. Today, derrick is commonly used for a framework, but one that supports equipment used in drilling for oil.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 30, 2021 is: hoity-toity • hoy-tee-TOY-tee • adjective Hoity-toity means "pretentious, fancy, or pompous." // The guidance counselor emphasized that students do not need to go to a hoity-toity college to achieve success.    See the entry > Examples: "[Daniel Heider] says his post-high-school years were difficult. … 'I felt like I was at a disadvantage because everybody in DC is interning with a great congressman or is going to law school or is going to med school, and everybody's super hoity-toity and super important….'" — The Washingtonian, April 2021 Did you know? Hoity-toity is believed to have been created as a rhyme based on the dialectal English word hoit, meaning "to play the fool." Hoity-toity can mean "foolish" (e.g., "… as though it were very hoity-toity of me not to know that royal personage." — W. Somerset Maugham, The Razor's Edge), but it is most often used to mean "pretentious."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 29, 2021 is: obfuscate • AHB-fuh-skayt • verb Obfuscate means "to make difficult to understand" or "to be evasive, unclear, or confusing."   // The coach obfuscated his response as to whether he would retire at the end of the season. // When asked about the lawsuit alleging plagiarism, the singer obfuscated. See the entry > Examples: "Intelligence officials operate in an increasingly difficult environment, in which bad actors are deploying sophisticated technology to obfuscate their activities…." — Will Hurd, The Dallas Morning News, 8 Sept. 2021 Did you know? Obfuscate comes from the Latin prefix ob- (meaning "over" or "completely") and fuscus ("dark-colored"). That fact gives an idea as to how the word can refer to making something difficult to see or understand—much like how dark, dirty water makes it hard to see the bottom.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 28, 2021 is: menorah • muh-NOR-uh • noun A menorah is a candelabra with seven or nine lights that is used in Jewish worship. // At sundown on the first night of Hanukkah, Aaron's father helped him light the first candle on the menorah. See the entry > Examples: "The world's largest menorah went up in Manhattan on Tuesday and will be lit on Thursday after sundown…." — ABC7 (New York), 10 Dec. 2020 Did you know? In English, menorah was originally the name for the seven-branched candelabra used in Jewish worship. The nine-branched Hanukkah candelabra is called hanukkiah in Hebrew, but English speakers came to use menorah for this too. The Hanukkah menorah recalls expulsion by Judah Maccabee of invading forces from the Temple of Jerusalem. Maccabee and his followers sought oil for the temple's menorah so that the sanctuary could be rededicated, but they found only enough oil for a single day. Miraculously, that tiny amount of oil burned for eight days, until a new supply could be obtained. The Hanukkah menorah includes a candle for each day the oil burned, plus the shammes, a "servant candle" that is used to light the others.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 27, 2021 is: commensurate • kuh-MEN-suh-rut • adjective Commensurate means "proportionate" or "equal in size, amount, or degree." // The job posting states that salary will be commensurate with experience. // The budget cuts of the community college are commensurate with other state-funded agencies and programs. See the entry > Examples: "Nationwide was originally founded in the 1920s as Farm Bureau Mutual Automobile Insurance Company with the idea of offering farmers automobile insurance that was more commensurate with their driving habits at a time when many were being charged similar rates to their counterparts in densely-populated urban areas." — Jason Bisnoff, Forbes, 29 Sept. 2021 Did you know? Commensurate comes from the Latin word for the act of measuring, mensūra. That noun is based on mensus, the past participle of the verb mētīrī," meaning "to determine the extent of."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 26, 2021 is: maître d' • may-truh-DEE • noun A maître d' (or maitre d') is the headwaiter of the dining-room staff of a restaurant or hotel. // The maître d' ushered the celebrity couple to a private table at the back of the restaurant. See the entry > Examples: "Mike is part of a long-standing trio responsible for making Lucca's one of Helena's premier fine-dining establishments. … Rounding out the team is Ray Spooner, maître d', who not only greets and seats patrons but starts the evening off by eloquently describing the featured wines." — Donnie Sexton, The Billings (Montana) Gazette, 19 Oct. 2021 Did you know? Maître d' is short for maître d'hôtel, which comes from French and literally means "master of the house." Maître d'hôtel was used in English for a head butler or steward of a household before it referred to the head of a dining-room staff. For the record, the plural of maître d'hôtel is maîtres d'hôtel whereas the plural of maître d' is maître d's.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 25, 2021 is: jovial • JOH-vee-ul • adjective Jovial means "markedly good-humored" and describes people and things that are cheerful or full of joy.   // Andy remembered his Uncle Jim as a jovial man with a ready smile, a firm handshake, and a cheery greeting for all. // Family reunions are a jovial occasion in which long-distance relatives reconnect and, of course, share amusing stories about each other. See the entry > Examples: "Still, part of the pleasure of dining at Margie's is ... its familial atmosphere. When Winston, a jovial seventeen-year-old senior at Far Rockaway High School, stopped to chat while clearing dishes, it was hard not to feel like a guest at an intergenerational dinner." — Jiayang Fan, The New Yorker, 16 Aug. 2021 Did you know? In Roman astrology, planets were named after gods, and people were thought to share the personality traits of the god whose planet was rising when they were born. Jupiter, also called Jove, was the chief Roman god and was considered a majestic type who was the source of joy and happiness. The Latin adjective jovialis means "of or relating to Jove." In French, this had become jovial, which English borrowed and used to describe people and things full of cheer or joy.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 24, 2021 is: feign • FAYN • verb Feign means "to give a false appearance of something." // After her mom told her that she will bring her to the doctor's, Kim confessed that she was feigning illness because she forgot to finish her book report. See the entry > Examples: "For his part, Hopkins said Collins had surprised him the most this preseason, adding that he's never seen a 6-9 player who can do the things his fellow freshman can on the court. Hopkins … also didn't attempt to feign surprise when told that every single one of his teammates had mentioned him by name when asked the same question." — Ben Roberts, The Lexington (Kentucky) Herald Leader, 21 Oct. 2021 Did you know? Feign is all about faking it, but that hasn't always been so. An early meaning of the word is "to fashion, form, or shape." That meaning comes from its Latin source: the verb fingere. In time, people began fashioning feign to suggest the act of forming, or giving shape to, false appearances.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 23, 2021 is: enclave • EN-klayv • noun An enclave is an area inhabited by people who are different in some way from the people in the surrounding areas. // The district includes an enclave in which students of the university reside. See the entry > Examples: "Harlem … was rapidly evolving; once a rural, village-like enclave for rich English, Dutch and French families, it had become desirable among city elites." — Sandra E. Garcia, The New York Times, 27 Oct. 2021 Did you know? Enclave comes from French enclaver, meaning "to enclose," which itself is based on the Latin noun clavis, meaning "key." Clavis opened the door to a few other English words, some of which might seem unlikely relatives of enclave. For example, clavicle, the word for the bone that joins the breastbone and the shoulder blade, and the musical sign clef.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 22, 2021 is: roister • ROY-ster • verb Roister means "to engage in noisy partying or celebration." // Fans roistered after their team won the championship. See the entry > Examples: "Of course, my student life wasn't all angst and regret. I spent much of my time falling in and out of love and roistering around the world of Cambridge theatre." — Joan Bakewell, The Guardian (London), 8 Sept. 2021 Did you know? Roister is related to French ruste, meaning "rude" or "rough." That word comes from the fairly neutral Latin rusticus, meaning "rural." Originally, the English verb was simply roist, and one who roisted was a roister. Those words are no longer used; instead, we have the verb roister, and the corresponding noun roisterer.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 21, 2021 is: univocal • yoo-NIV-uh-kul • adjective Univocal means "unambiguous"—that is, "clear" or "precise."    // The results of the study were univocal. See the entry > Examples: "An audience member asked the panel if fans might get to see a musical episode in Season 3. Several TV shows have gone down this path…. The answer from [Scott Grimes] was, at first, univocal: 'Absolutely not.' However, he paused and added, 'But if we did….'" — Scott Snowden, Space.com, 26 Oct. 2019 Did you know? In Latin, the prefix uni- ("one") united with vox ("voice"), creating univocus, the source of English's univocal.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 21, 2021 is: univocal • yoo-NIV-uh-kul • adjective Univocal means "unambiguous"—that is, "clear" or "precise."    // The results of the study were univocal. See the entry > Examples: "An audience member asked the panel if fans might get to see a musical episode in Season 3. Several TV shows have gone down this path…. The answer from [Scott Grimes] was, at first, univocal: 'Absolutely not.' However, he paused and added, 'But if we did….'" — Scott Snowden, Space.com, 26 Oct. 2019 Did you know? In Latin, the prefix uni- ("one") united with vox ("voice"), creating univocus, the source of English's univocal.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 20, 2021 is: trepidation • trep-uh-DAY-shun • noun Trepidation is a feeling of fear that causes hesitation because you think that something bad or unpleasant is going to happen. // The students felt a sense of trepidation as they walked toward the principal's office. See the entry > Examples: "The current market is great for employment. There was a lot of trepidation for companies in 2020. People wanted to see how things would work out and were stalling." — Lisa Noble, quoted in The New York Times, 8 Oct. 2021 Did you know? If you've ever trembled with fright, you know something of both the sensation and etymology of trepidation. The word comes from the Latin verb trepidare, which means "to tremble." Early meanings of trepidation, such as "tremulous motion" or "tremor," reflect that origin; those are followed by the word's sense of "apprehension."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 19, 2021 is: draconian • dray-KOH-nee-un • adjective Draconian means "cruel" or "severe." It is usually used to describe harsh laws, rules, or regulations. // Small businesses believe that the new tax is draconian. See the entry > Examples: "Members of the public were mostly against the censure policy…. They said the policy was draconian, divisive and unnecessary." — Braden Cartwright, The Daily Post (Palo Alto, California), 14 Oct. 2021 Did you know? Draconian comes from Draco, the name of a 7th-century B.C. Athenian legislator who created a written code of law. Draco's code was intended to clarify existing laws, but its severity is what made it really memorable. According to the code, even minor offenses were punishable by death, and failure to pay one's debts could result in slavery. Draconian, as a result, became associated with especially authoritative actions that are viewed as cruel or harsh.

Alpha Connect Sisterhood Series
National Headquarters Series: Melissa Koch Merriam, EE, Sarah Gafron, Beta Theta, and Kayla Vivace, Epsilon Phi

Alpha Connect Sisterhood Series

Play Episode Listen Later Nov 19, 2021 31:47


This is the final episode in the National Headquarters Series.  Kelly chats with the three newest members of staff:  Melissa Koch Merriam, EE, Volunteer Coordinator, Sarah Johnson Gafron, Beta Theta, Collegiate Experience Coordinator, and Kayla Vivace, Epsilon Phi, Communications and Graphic Design Coordinator.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 18, 2021 is: amity • AM-uh-tee • noun Amity means "friendship" or "friendly relations between nations." // Amity between the nations was restored with the treaty. See the entry > Examples: "He's one of the few people … to have a deep, long-lasting amity with Russell, who guards his privacy and is fiercely dismissive of the social whirl." — Bruce Jenkins, The San Francisco Chronicle, 11 Sept. 2021 Did you know? Amity comes from the Latin word for "friend," amicus, and is used especially for relationships between political leaders and nations in which goodwill is shown despite differences that might exist between the two parties. Amicus is also the root of the adjectives amiable and amicable.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 17, 2021 is: negotiate • nih-GOH-shee-ayt • verb Negotiate means "to deal with or bring about through discussion or compromise." It also means, for people and things in motion, "to get through, around, or over successfully." // The parties negotiated an agreement. // The slope is designed for an experienced skier who can negotiate unpredictable terrain. See the entry > Examples: "... unionized workers are in better position now to negotiate higher wages…." — Dave Flessner, The Chattanooga (Tennessee) Times Free Press, 19 Oct. 2021 Did you know? Negotiate comes from Latin negōtiārī, meaning "to carry on business," and the word shares that meaning. In English, it can also mean "to successfully travel along or over."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 16, 2021 is: facetious • fuh-SEE-shuss • adjective Facetious means "joking often inappropriately" or "meant to be humorous or funny." It usually describes something said or done as being annoying, silly, or improper. // I was just being facetious. See the entry > Examples: "Forget the license to kill. James Bond fanatics carry a license to argue about everything. Who's the best Bond? Well, Connery. Obviously. But Daniel Craig's a close second, many believe. And the other screen Bonds have their admirers, despite the lesser movies' unevenness or facetious gadgetry." — Michael Phillips, The Chicago Tribune, 8 Oct. 2021 Did you know? Facetious—which puzzle fans know is one of the few English words containing the vowels "a, e, i, o, u" in order—comes from French facetieux, which traces to the Latin word facētia, meaning "cleverness or wit." In English, facetiae refers to "witty or humorous writings or sayings."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 15, 2021 is: wormhole • WERM-hohl • noun A wormhole is a hypothetical structure of space-time that is envisioned as a long thin tunnel connecting points that are separated in (well) space and time. // Some science fiction writers speculate that wormholes are the intergalactic highways of the future. See the entry > Examples: "Imagine space as a vast sheet of paper. You live at one end and you want to travel to the other end. Ordinarily you'd have to trudge across the entire length of the page to get there. But what if you folded the paper in half instead? Suddenly, where you are and where you want to be are right next to each other. You simply have to jump that tiny gap. We call these objects wormholes because it is like a worm trying to navigate its way around an apple. To get from the top to the bottom it has two choices: Crawl around the outside, or chew a shortcut through the middle." — Colin Stuart, Space.com, 13 July 2021 Did you know? If you associate wormhole with quantum physics and sci-fi, you'll probably be surprised to learn that the word has been around since William Shakespeare's day. To Shakespeare, a "wormhole" was simply a hole made by a worm, but even the Bard subtly linked wormholes to the passage of time; for example, in the poem The Rape of Lucrece, he notes time's destructive power "to fill with worm-holes stately monuments." To modern astrophysicists, a wormhole isn't a tunnel wrought by a slimy invertebrate, but a theoretical tunnel between two black holes or other points in space-time, providing a shortcut between its end points.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 15, 2021 is: wormhole • WERM-hohl • noun A wormhole is a hypothetical structure of space-time that is envisioned as a long, thin tunnel connecting points that are separated in (well) space and time. // Some science fiction writers speculate that wormholes are the intergalactic highways of the future. See the entry > Examples: "Imagine space as a vast sheet of paper. You live at one end and you want to travel to the other end. Ordinarily you'd have to trudge across the entire length of the page to get there. But what if you folded the paper in half instead? Suddenly, where you are and where you want to be are right next to each other. You simply have to jump that tiny gap. We call these objects wormholes because it is like a worm trying to navigate its way around an apple. To get from the top to the bottom it has two choices: Crawl around the outside, or chew a shortcut through the middle." — Colin Stuart, Space.com, 13 July 2021 Did you know? If you associate wormhole with quantum physics and sci-fi, you'll probably be surprised to learn that the word has been around since William Shakespeare's day. To Shakespeare, a "wormhole" was simply a hole made by a worm, but even the Bard subtly linked wormholes to the passage of time; for example, in the poem The Rape of Lucrece, he notes time's destructive power "to fill with worm-holes stately monuments." To modern astrophysicists, a wormhole isn't a tunnel wrought by a slimy invertebrate, but a theoretical tunnel between two black holes or other points in space-time, providing a shortcut between its end points.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 14, 2021 is: grisly • GRIZ-lee • adjective Grisly means "causing horror or intense fear." // The movie is a grisly tale with gruesome special effects and terrifying monsters. See the entry > Examples: "It is a national tragedy that we don't appreciate pumpkins more…. Other than carving them into ghoulish and grisly faces to adorn our windows, we seem to ignore them for the rest of the time they are in season." — JP McMahon, The Irish Times, 9 Oct. 2021 Did you know? An angry grizzly bear could certainly inspire fear, so grizzly and grisly must be related, right? Grizzly comes from the Middle English adjective grisel, meaning "gray." Like its close relative grizzled, grizzly means "sprinkled or streaked with gray." In other words, the grizzly bear got its name because the hairs of its brownish to buff coat usually have silver or pale tips, creating a grizzled effect, not because it causes terror. Grisly is related to Old English grislic, which comes from a verb meaning "to fear" and which gives grisly its "terrifying" sense.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 13, 2021 is: qualm • KWAHM • noun Qualm is often used in the plural form qualms for feelings of uneasiness about whether something is right or wrong. // Cynthia's parents had no qualms about her traveling abroad for a year after graduating high school. See the entry > Examples: "My main qualm with this pie was that there wasn't enough flavor for my liking…." — Molly Allen, Taste of Home, 7 Oct. 2021 Did you know? Etymologists are not sure how qualm came to be, but early use of the word is for a sudden sick feeling. It then was used for a sudden attack of emotion. Today, qualm usually refers to a feeling of uneasiness, particularly in not following one's conscience or better judgment.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 12, 2021 is: edify • ED-uh-fye • verb Edify means "to uplift, enlighten, or inform." // The speaker's words edified the graduating class, giving them hope and encouragement. See the entry > Examples: "This is our first theatrical performance where our theatre is now complete. Young audience members will be edified by being around lots of amazing women's stories, and the old ones will be reminded of the progress that we have made." — Cate Belleveau, quoted in The Bemidji (Minnesota) Pioneer, 29 Sept. 2021 Did you know? Edify comes from the Latin verb aedificare, meaning "to instruct or improve spiritually"; it is based on aedes, the word for "temple." Edify shares the spiritual meaning of its Latin root, but it is also used in general contexts to refer to the act of instructing in a way that improves the mind or character overall.

YoteCast
Ep 99: Kyle Joplin stops by as Triathlon prepares for the national championship, preview USD/SDSU football with Tyler Merriam and David Herbster breaks down the busy week

YoteCast

Play Episode Listen Later Nov 11, 2021 44:19


John Thayer talks to South Dakota Athletic Director David Herbster, SDSU play by play man Tyler Merriam and triathlon coach Kyle JoplinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 11, 2021 is: steadfast • STED-fast • adjective Steadfast means "firm in belief, determination, or adherence." // The mayor is a steadfast supporter of bringing more businesses into the downtown area. See the entry > Examples: "I remain steadfast in my adoration of the glorious season we are now entering. Between crisp mornings and humidity-free afternoons—not to mention kaleidoscope leaves, 20-pound pumpkins, campfire perfume, … and a dozen other joys—the here and now is heaven on Earth." — Sam Venable, The Knoxville (Tennessee) News-Sentinel, 10 Oct. 2021 Did you know? Steadfast has held its ground for many centuries. Its Old English predecessor, stedefæst, combines stede (meaning "place" or "stead") and fæst (meaning "firmly fixed"). The word was first used in battle contexts to describe warriors who stood their ground, which led to its "immovable" sense. That sense gave way to the word's use as an adjective implying unswerving faith, loyalty, or devotion.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 10, 2021 is: bevy • BEV-ee • noun A bevy is a large group or collection. // The gym offers a bevy of workout classes, including kickboxing and Zumba. See the entry > Examples: "Starting at 7:30 p.m. on most nights in October, a bevy of jack-o-lanterns will glow along pathways on Newfields' campus." — Domenica Bongiovanni, The Courier-Journal (Louisville, Kentucky), 10 Oct. 2021 Did you know? Bevy makes its appearance in Middle English as a word used especially for a group of deer, quail, larks, or young ladies. Etymologists aren't certain why bevy was chosen for those groups (though they have theories). Today, bevies include any person or thing—e.g., "a bevy of reporters," "a bevy of menu choices."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 9, 2021 is: truncate • TRUNG-kayt • verb Truncate means "to shorten by or as if by cutting off." // Many statements in the court document were truncated before publication. See the entry > Examples: "[Derrick White] has never logged more than the 68 games he registered in 2019-20, an NBA season interrupted and truncated by the onset of the pandemic." — Jeff McDonald, The San Antonio (Texas) Express-News, 30 Sept. 2021 Did you know? The earliest use of truncate is as an adjective describing something (such as a leaf or feather) with the end squared off as if it had been cut. It makes sense, then, that the verb refers to shortening things. The word comes from Latin truncare ("to shorten"), which traces to truncus ("trunk").

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 8, 2021 is: demagogue • DEM-uh-gahg • noun A demagogue is a leader who makes use of popular prejudices and false claims and promises in order to gain power. // The country's voters ousted the demagogue who capitalized on the fears of the people. See the entry > Examples: "You need an internal guidance system for making decisions. Without one, your choices become heavily influenced by external forces such as peers, television, and demagogues." — Tom Muha, The Capital (Annapolis, Maryland), 2 Oct. 2021 Did you know? When the ancient Greeks used dēmagōgos (from dēmos, meaning "people," and agein, "to lead") they meant someone good—a leader who used outstanding oratorical skills to further the interests of the common people. But alas, the word took a negative turn, suggesting one who uses powers of persuasion to sway and mislead.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 7, 2021 is: soporific • sah-puh-RIFF-ik • adjective Soporific means "causing sleep." // Studies show that the herb has a soporific effect. See the entry > Examples: "Relying on repetition and rhyme, the text generates a gentle, soporific cadence as the little lions progress homeward…. The painterly, realistic illustrations create the feel of approaching night…." — Kirkus Reviews, 1 Oct. 2021 Did you know? Soporific comes from Latin sopor, which means "deep sleep." That root is related to somnus, the Latin word for "sleep." Despite its meaning, somnus has been active, giving English somnolence (sleepiness), somnambulism (sleepwalking), and many other "sleepy" words.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 6, 2021 is: propitiate • proh-PISH-ee-ayt • verb Propitiate means "to gain or regain the favor or goodwill of someone"—in other words, "to make someone pleased or less angry." // Fans of the team wondered how to propitiate the football gods after yet another heartbreaking defeat. See the entry > Examples: "Borlaug was in Mexico for a small side project that involved … a fungus that is wheat's oldest and worst predator (the Romans made sacrifices to propitiate the god of stem rust)." — Charles C. Mann, The Atlantic, 23 Jan. 2018 Did you know? Propitiate tends to suggest averting the anger or malevolence of a superior being. You might "appease" your hunger, but to speak more colorfully, you could "propitiate the gods of hunger." The word is related to propitious, an adjective meaning "likely to have or produce good results" or "being a good omen."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 5, 2021 is: camaraderie • kahm-RAH-duh-ree • noun Camaraderie is a feeling of good friendship among the people in a group. // There is a strong sense of camaraderie among the staff. See the entry > Examples: "What was amazing Sept. 26 was the camaraderie and devotion to the team that the golfers exhibited. These same players weekly go head to head on an individual basis but there were no grandstanders here, no sense that one golfer was better than another—just a team that could feel destiny in its grip…." — Kendall P. Stanley, The Gaylord (Michigan) Herald Times, 5 Oct. 2021 Did you know? Camaraderie comes from French camarade, which is also the source of English's comrade, meaning "friend or associate." Camarade means "roommate," "companion," or "a group sleeping in one room." It is related to Latin camera, meaning "chamber."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 4, 2021 is: ad-lib • AD-LIB • verb Ad-lib means "to improvise" or "to deliver spontaneously." // The actor forgot his lines, so he ad-libbed. See the entry > Examples: "Heinicke ad-libbed a 30-yard touchdown pass to J.D. McKissic…, rallying the Washington Football Team to a 34-30 victory...." — ESPN, 3 Oct. 2021 Did you know? Ad-lib is a shortening of Latin ad libitum, which means "in accordance with one's wishes." In the past, ad libitum was used to refer to any activity where the performer was free to do whatever they liked for as long as desired, whether the activity be drawing, working math problems, talking, playing music, or acting.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 3, 2021 is: lenient • LEEN-yunt • adjective Lenient means "not harsh, severe, or strict." // The teacher was lenient in her grading after the holiday break. See the entry > Examples: "When it comes to growing up, we're all split into two camps: those with lenient parents and those with strict parents." — Nicky Idika, PopBuzz, 8 May 2017 Did you know? Lenient comes from lenis, the Latin word for "soft" or "mild." It was originally applied to something soothing that relieved pain or stress; the related lenitive has the same meaning. Linguists also borrowed lenis to describe speech sounds that are softened—for instance, the "t" sound in gutter.

The Remote Real Estate Investor
How to achieve financial independence to retire early with Diania Merriam

The Remote Real Estate Investor

Play Episode Listen Later Nov 3, 2021 36:29


Diania Merriam is the founder of the EconoMe Conference, a financial independence conference, and the host of the Optimal Finance Daily podcast. At the age of 28, Diania climbed out of $30K of debt in 11 months to begin her journey to financial independence.  In this episode, Diania shares about what it took to reach debt freedom and how she is powering her path to retiring early. This episode is loaded with actionable insights for you to get your finances in order and start building real wealth. --- Transcript   Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum. And today with me, I have Diania Merriam, who's going to be talking to us today about the economy conference that she is the founder of as well as some financial independence tips that she has learned along her life's journey. So without further ado, let's get into it.   Diana, thank you so much for taking the time to come talk personal finance with me today. I really appreciate it.   Thanks for having me.   Michael: No, my pleasure. So you are the founder of a really cool conference called economy.   Diania: Yeah.   Michael: Tell us a little bit about what that is. Because I know it's coming up here in like 30 days, right?   Diania: Yes, we are exactly a month away at the time of this recording. But essentially, economy, the easiest way to describe it is it's like the TED talks of the fire movement. And you guys can't see me. But I'm doing air quotes over here, because we're not associated with TED talks, which is like the easiest way to explain what it is. So we have amazing mainstage speakers that talk about financial independence from a lot of different angles, whether it be really tactical information, or just more inspiring stories. And then we also do a number of breakout sessions to kind of connect you with like minded people. Because as you know, money is such a taboo topic, right? And we don't often get the opportunity to surround ourselves with people that are comfortable talking about this stuff.   So one of the things I like to say about pursuing financial independence is like what's the point of being FI and retiring early if you have no one to hang out with? Right, here's your opportunity to meet your people to meet your tribe.   Michael: Your playmates yeah.   Diania: Exactly. So we've got all these breakout sessions, we do an after party, we do a lot of social activities on the last day of the event. So it's really just an amazing weekend, someone last year describes it as a party about money, which is exactly the vibe I was going for.   It's really, the point of it is inspiration and community around a topic that is so you know, influential for us all?   Michael: Oh, that's awesome. And is I know, this year, it's out in Cincinnati. Is it always in Cincinnati? Or does the location move every year?   Diania: Yes. So we're actually in our second year, because I had the brilliant idea of launching an event based business in the middle of a pandemic.   Actually, our first event was March 7 of 2020. It was one week before everything shut down due to COVID. But I had been planning the event for 20 months. This was like something I could have never anticipated that I would have to navigate. So yeah, we got really lucky on our first event. And this is actually going to be our second and yes, it's at the same venue, which is the University of Cincinnati.   Michael: Awesome, awesome, awesome. So I've got kind of a question for you. And I'm curious, why did you think you were qualified to host and found a conference talking about money? What's your story? Like?   Diania: Yeah, like who the hell do I think I am? I mean, as far as qualifications? Um, that's a great question. I think that I was just someone with a really ambitious idea. That's probably crazy. Most people told me I was crazy. When I when I first came up with this idea, but the reason why I wanted to do this is because figuring out my financial situation completely changed my life. So my background is that, you know, my 20s, I was very focused on my career, living in New York City. I got to my late 20s, about 28. I decided I should probably look at my money situation, like what's going on here, right. And I ran a credit report on myself and realize that I was 30 grand in debt for like no good reason. It was simply living outside my means.   And half of that debt was student loan debt, which doesn't sound too bad until you consider that I got a full academic scholarship to college. Like, the fact that I had any student loan debt is just ridiculous. It still blows my mind. But when you're at that age, and you're completely financially illiterate, you know, someone offers you loans, and you don't really…   Michael: Oh look free money!   Diania: I mean, you Yeah, you just, it's just what you do, right? No one like advised me that maybe that wasn't a great idea. So I found myself in this situation where I'm 30 grand in debt in my late 20s. My 30th birthday is looming. I think it's one of those really reflective birthdays for like, what am I doing with my life?   Michael: Yep, right.   So I came across this article that was sent to me by a friend from Mister Money Mustache. I'm sure you know that blog, right?   Michael: Know him very well, yeah.   Diania: Yes, one of the most popular probably the most popular blogger in the fire movement, which I keep throwing around this word fire. I want to make sure everyone's on the same page stands for financial independence retire early. Right, To me it's a it's a lifestyle movement with a goal of financial freedom. But a lot of people look at it as like a bunch of frugal weirdos and we're all in a cult.   Diania: It's not   Michael: Chanting about money.   Diania: Yeah, exactly. So I discovered Mister Money Mustache. And I like to say that I think the article was something about like, viewing your debt as an emergency. And I like to describe finding that blog as a refreshing punch in the face, because I had never heard anyone talk about money the way that he did. And I just devoured that blog with a spoon. I read like every single article, I got a little obsessive over it.   But it really inspired this very deep mindset shift within me. And I did a complete 180 I got out of that 30 grand of debt and 11 months. And from there, I started saving about 60% of my income. And it completely changed my life. It opened up so many options. That just didn't seem possible for me like that, it allowed me to dream bigger, you know. So one of the things that motivated me to even want to get out of debt is I had this goal to go walk the Camino de Santiago, which is a 500 mile trek across Spain. It just seemed like this ridiculous life adventure that felt so outside my comfort zone. But it's what I wanted to do for my 30th birthday.   So getting out that was kind of a motivator for me to get out of debt. And then when I got back from that trip, so that was in 2017.   Michael: Wait, timeout. So you did it?   Diania: I did it. Yes.   Michael: So when I got back, you just glossed over it! Oh, that's incredible.   Diania: Yeah, it took me 38 days, and it was a wild adventure. absolutely wild. Yeah, I walked with anywhere between 10 to 20 miles a day, with like, 20 pounds on my back, I met incredible people. That's actually I have an arrow tattoo on my wrist,   Michael: Okay.   Diania: And it's because the whole way is marked by arrows. They're like spray painted on trees, or like, carved into these stones. And so every time I would see an arrow, it'd be like a very comforting symbol that I like, wasn't lost.   Michael: Still on the right path.   Diania: So yeah, yeah. So um, when I got to Santiago, which for many people is the finish line, I ended up getting this tattoo. But yeah, that's something that I would have never dreamed would be possible, given my financial situation in my late 20s. And, you know, a lot of the people that I met on the trail were in their 60s or they were at traditional retirement age, they had to like wait to be able to do that. So it just getting my money in order opened up this incredible option.   And I just feel like my getting my finances in order almost allowed me to ask bigger questions like, What do I want to do with my time? What do I want to create? What kind of people do I want to surround myself with? And so getting out of debt was a big milestone in that regard. Walking the Camino was a big milestone. I negotiated a remote working arrangement with my employer. So I moved from New York City to Cincinnati, which people are like, what, why? Why would you do that?   But I will tell you that Cincinnati has everything that you would want out of a big city with like none of the downsides. And the cost of living, you just can't beat it. I mean, I really am marketing Cincinnati as the number one city to pursue financial independence. And a couple things we're doing actually at the economy conference in that regard, like our coffee vendor as a local vendor.   We're doing an urban hike on Sunday morning of the event, a three hour urban hike to show off how amazing Cincinnati is. And then with Roofstock, we are doing a chartered real estate bus tour. It's a two hour tour where we're going to drive you around the amazing neighborhoods in Cincinnati that are really good investments. And we have an expert that owns 42 doors here. He's flipped three dozen houses, and he's going to do some case studies on his best properties.   So if you are interested in low cost of living in an amazing city, you've got to come out to Cincinnati and I feel like I have the authority to say that because I came from New York City that's usually whatever where everyone wants to go.   Michael: Yes.   Diania: Now come to Cincinnati.   Michael: I love it. And I'm gonna second that call to action to get out to Cincinnati. I do a lot of investing out in Cincinnati and across the river in Covington, Kentucky, and I went out to visit a property and I happen to be there actually around this time a little bit later in October and found myself and I think the second largest Beer Fest or Oktoberfest, rather outside of Munich, Germany, and just had an absolute bombing, the food scene. I think they've got the most micro breweries like per capita of maybe any city. Tons of coffee places, Coffee Roasters popping up, it is just a very, very cool city for no one who, for people who haven't been before, so totally love it. Love it. Love it.   Diania: Yeah. Yeah. So, you know, being out here getting back from the Camino, you know, I adopted dog, I buy a house, I find myself a Midwestern gentleman, you know, life is good. Yeah. But I was still kind of asking myself these big questions like, What do I want to do with my time. And so at this point, I'm saving 60% of my income, I'm still, you know, fully employed with the same company that I had worked for nine years in New York City. And I had this idea that you know, what I was asking myself, what would I want to do with my time if I no longer had to work for money?   And I decided I wanted to create this party about money. And a big reason for that is because I had been going to different events, and exposing myself to people that were very, like, growth oriented, their life seems so expansive, and it really helped me broaden my perspective on what's possible in my own life. So for example, one of my favorite events is called World Domination Summit. I know that sounds insane, like who produces that, pinky in the brain?   Michael: Pinky and the brain, yeah, exactly.   Diania: But this event, I mean, as someone as frugal as me, you know, I got out of 30 grand of debt and 11 months, I really brought down my spending in order to do that this event is $700 A ticket. And I will tell you, it is worth every single penny. Because the people that you meet there are just incredible, and they're doing such amazing things. And every time I would leave, I would feel like my life is so full of possibility. I also had gone to events like Camp FI, or Camp Mustache, sense positive. These are kind of rooted in the financial independence community. And it's a way for people to spend a weekend together with like minded people.   Now, I saw an opportunity to create kind of a large scale event. So like Camp FI, Camp Mustache, usually around 60 people for like a weekend at a retreat center. Right? I wanted to do something more like World Domination Summit that's a little bit more grand. It's more of a production. You know, it's more of a show. It has a really strong entertainment element to it. And so I modeled my event really after World Domination Summit, but I brought that price tag way down. I'm actually doing it for $200 A ticket, but it is definitely worth $700 A ticket. I'm not charging enough.   But yeah, it's funny, because this event was supposed to be my early retirement project when I reached FI at 40 years old, but I just got so excited about it. I couldn't wait. I had to do it now. And I'm really glad that I did. Because it's been quite the adventure.   Michael: Oh my god, what a cool story. And next time someone asks, don't gloss over the fact that you hiked 500 miles. That's an amazing feat, among many others. You just mentioned that is so cool. That is so cool.   So I,   Diania: Well thanks so much.   Michael: No, of course, of course, what I'd love to do is kind of get into the meat and potatoes, if you will, of financial independence and just kind of getting your finances or so I think your story where you found yourself in your late 20s is so common for so many people, they don't realize what student loans are, how the payback works, how debt works, how finances work. So what did you do? Other than change your mindset, like brass tacks, what did you do on a daily, weekly, monthly basis? And you were able to pay off 30,000 in debt in 11 months? Because that's that's something no small feat.   Diania: Yeah, I would say big lifestyle changes, right. So when I looked at where I was spending money, then I would say the first thing I did was increase my awareness around my situation, honestly, because a lot of us are just swiping the credit card, we're not paying attention of where our money is going. So I started tracking every single dollar I spent. And I saw that I was spending a ton of money eating out, you know, going out for happy hour. I mean, let's be honest, I had my 20s in New York City, you know, like I was a party animal.   And I think what I obviously like I was very social creature, I mean that's kind of another reason why I'm into these in person events. I'm a very social person, very extroverted. So I was spending so much money going out. And so what I ended up doing, and I think this is really important, when you think about decreasing your expenses, a lot of people look at that as deprivation, they look they think of it as I can't go out anymore. And I saw it as an opportunity to be resourceful and creative, and really to get to the root of what are my values and how do I align my spending with my values in a more efficient way.   So the value for me was spending time with other people, I don't need to remove that from my life, let me just do that a little bit more efficiently. So I started like hosting these elaborate dinner parties in my apartment, where I would like makeup games, I made my apartment more fun than a bar, everybody else would bring the booze, I would cook the food. And you know, I'd always have themes like, I just, I think back on that time, and it was so wild. Like I would tell people, you know, bring a photo from your awkward phase. And then we'd like all pass around these photos around and like make fun of each other or like   Michael: That's so good   Diania: The night was like, was like tonight's the evening of compliments. And it was like a game of who can give the most compliments to other people at the table. And we would like, we would like keep score. I mean, it was just silly, but it scratched my itch for human connection in a really resourceful way. Another thing I did was, you know, rather than buying clothing, I would host these clothing exchanges, all of my more fashionable friends would clean out their closets, I would do like a clothing swap, while sipping mimosas and listening to music in my apartment on a Sunday afternoon, you know, I started to see my, my frugal behaviors is actually far superior than the convenience of swiping a card because I not only got my needs met, but I also got to be creative in the process.   And so I kind of feel like if you're reducing your expenses, and it feels like deprivation, I think that you're not being creative enough about it, I think it can be a really fun thing. And I also think the other piece of it is really understanding that that hedonic treadmill, we're all on when it comes to consumerism, right? We all want, you know, the new shoes and the fancy car and the nice stuff. And I think that I had to really grow a new sense of gratitude for what I have. Now.   If you develop a deep appreciation for what you have now, you're almost combating that desire for more. Right, I think you're combating your consumerist conditioning. And I started to see things that I used to think were a burden, I would just laugh them off as a first world problem. So for example, we all know, the big three, right? And personal finance, when you're reducing your expenses, you want to reduce your housing, transportation and food, those are the things that people spend the most money on. And so I was locked into a lease, you know, or, you know, with my apartment, so I couldn't really do anything about that transportation. I didn't have a car, I was using public transportation. And I had, like, commuter benefits through my job. So I feel like I was optimized there.   But when it came to food, I could I could really have a huge effect there. So I started cooking every meal that I ate. I was bringing lunch every single day making, you know, gourmet breakfast, of like omelets with goat cheese and smoked salmon. I mean, I was eating very well, I'm not talking rice and beans. But for most people, when I would tell them I'm cooking, every meal I am eating, they look at that as such a burden.   And it's like, actually, no, I should be celebrating the fact that I have access to a grocery store that I can get any ingredient I want at any time at that grocery store, right? Like, we are so fortunate and I think if we can shift our mindset and be grateful for how fortunate we are, we're combating that desire for that consumerist convenience. Another thing that really struck me when I was reading Mister Money Mustache is he says that luxury is a weakness. And that really helped me shift my mindset because I realized if I can be happy on very minimal amount of money, that's like a superpower. Right? And I wanted to learn that skill before something externally happened.   So I think self imposed restriction, it has the opportunity to lead to a lot of personal development, when it's externally imposed by a job loss, or like a health scare. I didn't want to try to learn it under those conditions, I think it would have been a lot less fun, you know. And so I think it was really empowering for me to just learn to live on less and enjoy it. I mean, I spent a lot more time reading books from the library and working out and journaling. And I stopped wearing makeup for a long time and got comfortable with my with what my face looks like. I mean, you know, these are all things that you can look at it as deprivation or you can see it as incredible opportunity to grow.   Michael: That's incredible. Total side note. Do you know Wim Hof?   Diania: Yeah.   Michael: Are you a big Wim Hof fan?   Diania: Oh, What a weirdo. Yeah, that guy. My boyfriend does his breathing every morning. It's really obnoxious.   Michael: Oh, that's awesome.   Diania: Yeah, here I'm like huffing and puffing in the living room this morning. So my wife is a huge fan. And I've come on board to the cold plunge thing I totally buy into, but he talks about forcing yourself to be uncomfortable and putting yourself in uncomfortable situations. So when life throws something that you, you can handle it. And that totally sounded very similar to what you're talking about of, hey, do it for yourself. So that way, when life throws you a curveball, you're more than ready.   Diania: Absolutely.   Michael: No, I love that. I love that. But you also did. I mean, you also uprooted your life and move that in New York and to Cincinnati. So yeah, I mean, you said that you were locked into this lease, but it doesn't sound like you renewed that lease, or you stayed in New York much longer after having this revelation.   Diania: Yeah. And, you know, when I was in New York, for about 10 years, I had to move almost every year. I think the longest I stayed in a place was like a year and a half, maybe two years. But it's, you know, you're constantly changing roommates, because no one can afford to live alone. And then the rents will go up like $100 every year. So you're really forced, I was forced even deeper and deeper into the bowels of Brooklyn, you know, and then I ended up, I ended up getting this. The last place I lived. I did live there for two years is the first time I've ever lived alone as an adult.   It was in Sunset Park and I was paying $1,800 a month for this like cockroach infested apartment. That was just Yeah. So when I was making the decision to go walk the Camino and 2017 My I did the Camino in the fall, my lease was up in May of that year. So my landlord wasn't going to let me sublet for those two months. So I knew I was going to have to leave anyway, and find a different situation. And so it was like if I'm gonna move again. And I'm in this situation where I've got no man, no kids, no debt. Let me just go, like, put my big girl pants on and move to the Midwest and try something different, you know?   Michael: Yeah totally.   Diania: Just, I was always intimidated by the idea of like uprooting my life and starting over in a new city. But I had the benefit of I had a really close friend in Cincinnati, who I visited a few times. And so I got the sense of the area. And she was my only connection to Cincinnati isn't like I grew up here. I grew up in New Jersey. I had no other friends or family or anything besides her. And that was really helpful, though, because she was another very social person. So she just dumped me into her friend circle. Oh, and that's kind of how I got going here. Yeah, yeah.   Michael: That's great. That's great. And so now that you are kind of on the other side of the wall, or standing on top of the wall or the mountain, what advice do you have for people? I mean, in addition to the wealth of knowledge you've already shared, what do you what do you see looking forward? And what can you share with people?   Diania: Yeah, um, I would say when you're first starting out, like I'm helping a friend right now who's really deep in debt, who is just starting from scratch, trying to clean up her finances. And when I sit with her in our meetings, it's like, she's just so overcome with shame, and fear. And she's like sweating, as we're talking about this stuff. And I encourage her as well as anyone else in that situation, let your curiosity be bigger than your fear.   Because when it comes to money, it really is all figureoutable. But you have to have the mindset that it's fixable in order for you to be able to kind of face the music and like look at the reality of your situation, so that you can come up with a plan to dig out of it. It's totally possible. But it really all starts with your belief system. So there's a lot of people where I'll tell my story, and they'll say, Well, you could do that. But here are all the reasons why I can't do that.   Michael: Why I can't, right. Yeah.   Diania: And and I think if that's your initial reaction, that's your first thing that you got to tackle. I think you've got to change your belief system to recognize that it is possible and start to get curious about how it could be possible versus just immediately dismissing it. I think that's good advice for when you're first starting out. I think as you move through your financial journey, and you start hitting milestones, like for me, I hit debt freedom. Amazing. Then I had a fully funded emergency fund. Awesome. Then I started fully funding my retirement vehicles to the point where I reached Coast FI, which for those who aren't familiar Coast FI means that I have invested enough in my retirement vehicles that in 30 years because I'm 34 right now, it will grow to what I need for traditional retirement. So in essence, I don't really have to save for traditional retirement anymore. If I didn't care about early retirement and I can kind of take my foot off the gas a little bit because I've hit those certain milestones.   And then, you know, saving to a place where I got my first side hustle so I started hosting this podcast called optimal finance daily, which is a daily show, 10 minutes or less, I'm reading you articles about personal finance. So I like to say that all these amazing personal finance bloggers wrote these great songs, and I get to perform the covers, you know.   Michael: That's great.   Diania: It's, it's a show that's been around for five years, and they were looking for a new host, and I just went for it. And so this is kind of my first, you know, little side hustle income.   So, I would say though, as I've progressed through these milestones, my trajectory and goals for the future have definitely shifted. So I would say, like, be flexible about financial goals, because when I first started this, I thought, What I wanted was to just reach financial independence and retire early. And then as I've gone along through the years, and it's only been, what, six years that I've been on this journey, my desires and goals kind of keep shifting and changing, because the, it's almost like, the universe presents you with opportunities along the way.   And so if you're so laser focused on just reaching financial independence, you may miss out on these opportunities to learn about yourself and learn about what do you want to do with your time? What do you want to create in the world? And who do you want to spend that time with those three questions to me, has become kind of the focus on my path to FI. It's not like I gave up on my goal. But I just I've kind of, I'm not so laser focused on the money piece of it. Because I've realized that money is only as valuable as your clarity on how you're going to use it, and your comfort level with how much is enough.   So if you don't have clarity and comfort around your money, yeah, if you don't have those two pieces, you could be a multimillionaire and still be miserable. Right? I don't want to reach that point. I want to use my financial bandwidth to kind of explore those two things along the way. I also love this quote from Ayn Rand who wrote like The Fountainhead, and she says, money is only a tool, it will take you wherever you want to go. But it won't replace you as the driver.   And I just think for so many of us, we look at money as the goal versus as the tool to use to reach our goals. And that's something that I had to learn in in for myself, because I had always just kind of had money as the goal once I discovered the fire movement.   Michael: Yep. Yeah, no, I'm right there with you. And I always said, I'll figure it out when I get there. But then I realized, oh, there's too many other things to figure out along the way, that having money be the tool is a much better way to go.   Diania: Absolutely. If you're miserable on your path to FI you're likely going to be miserable when you reach FI   Michael: Yeah. Yeah, I think that's so well said. So well said. And so then I'm curious if you can share with everybody, what is it? What is your investment kind of portfolio look like? Is it stocks? Is it bonds is a real estate? How do you see yourself hitting that hitting the hitting FI?   Diania: Yeah, so I went for the Simple Path to Wealth model. And I would say that most of my money is in the tax advantaged accounts of what my 401k So I actually quit my job in January of this year. That's crazy. That was 10 months ago.   Michael: Congratulations that's awesome.   Diania: Yeah. So okay, so little sidebar, that's kind of a really good representation of what I mean about being flexible, because I had just thought that I was going to stay with my employer until I reached financial independence. But things changed, right, I ended up getting this new boss, the dynamic of the company, after nine years of being employed, there changed considerably. And so, you know, the, I kind of felt like the party was over, and the company didn't value me anymore.   And so I could have just put my head down and pushed through it because I have this goal of financial independence. But instead, I decided to kind of take a risk and a bet on myself to see like, Okay, I've got this, but I like to call FU money. So that that's defined as a year to have your expenses liquid. So I had a year in cash, and I had a year in after tax brokerage, which I really don't want to touch the after tax brokerage, but it's almost like my backup plan, my additional layer of a safety net. But that's something that it was almost like the universe presented me an obstacle and an opportunity at the same time. And so that could potentially slow my path down to FI.   Or something could happen. And I could, you know, find a new source of income. I'm exploring like 14 different sources of income right now. And so one of those could blow up and then it could expedite my path to FI. It's almost like I gave up the security of a regular paycheck and opened myself up to the uncertainty. You know, like I had plotted out my whole plan before because it was based on a steady paycheck. And now it's not. So who knows? Maybe I reach FI by 40? Maybe not. But to answer your question directly, um, I have my IRA. Now a traditional IRA, that was a rollover from my 401k. I've got a Roth IRA, and also my HSA   Michael: That is tough to say five times fast.   Diania: Yeah yeah So I have, I would say, the bulk of my money is invested there, and I am like, VTSAX all the way, I just, I'm 100%. In stocks, I don't have any bonds, because I have a very high risk tolerance. But also I don't want to be, I don't want to have to rebalance every year. Right? It just is simpler for me that I don't need to rebalance every year. It's all in a total market index fund, set it and forget it. I also own my home.   Now, for the first two years, I had a roommate who was paying like 95% of the mortgage. So I did a little bit of house hacking. But I did buy this house with the knowing that it would be an amazing rental one day, so I'm living in it for now. And I believe that this will I don't look at it as an investment yet. I think it's going to be once I start renting it out sometime in the future.   But yeah, I would say that my investments are very much so just simple stock portfolio with my retirement vehicles, a property that could become a rental property, I do want to get more into real estate in the future. I will be honest, that is something that has intimidated me so much I should take your course.   Michael: Come to Roofstock Academy, Yeah absolutely!   Diania: Yes, yes. And all of my friends are reaching financial independence so much quicker than me through the real estate strategy. So I'll tell you a fun story. My one of my first events that I went to five events was called Camp Mustache. It's like followers of Mister Money Mustache. And I actually ran a breakout session. That was all attendee case studies. So there were four of us, who basically opened up the books on our finances, here's our income, here's our expenses. Here's where our portfolio stands today, here are the assumptions that we're making. Here's our growth trajectory. Here are some, you know, nuances we want to point out, and we let people like poke holes in our plan, because we're in a room full of   Michael: Vulnerable that is awesome.   Diania: So yeah, it was, it was great. For me, because, you know, I'm figuring all this stuff out on my own reading about stuff. And to be able to, like be in a room of other really smart people, many of which, who have already reached financial independence. And for them to be like, No, you're good. Like, do you don't need to stress about tax loss harvesting, you're fine. You know, like that, that was really reassuring to me to have. So it was almost like, I was always a good student, you know. So it feels like I got the good star that a plus for my teacher.   But what was fascinating about that breakout session is that two of the case studies, were these two guys, that made half my income, literally half my income, but they were on this fast track to FI they were going to reach it and half of my time, because of their real estate strategy. So I really do think like real estate is the way to do it the fastest. I think it's obviously more complex, it can be more labor intensive than just, you know, buying index funds. And, you know, you don't have to plunge a toilet on an index fund in the middle of the night. You know, you don't have to deal with tenants and all that stuff. So I definitely think that index funds strategy is easier. But it I think it is faster if you go with real estate.   Michael: Yeah. And just for everyone listening, how much did we pay you for that plug for real estate?   Diania: Nothing. I mean, it's just me watching all of my friends killing it. And like trying to work up the courage to do it myself.   Michael: Yeah, come on over. We I know a great place for you, we can get you all squared away. Because I couldn't agree more I think it you hit the nail on the head that anybody can go pick a stock and just put their money into it. And they can make money, they can lose money. I think real estate is more complicated. Coach Tom and I want to do their coaches at the Academy just put out a YouTube video talking about how passive real estate investing really is?   And the answer is, it's not for most of us, it's not here to go buy property it's not. So you really need to go learn about what's involved, versus kind of just throwing mud at the wall and seeing what sticks in terms of stock picking. Or you get this collective, you know, collective safety when you're buying the entire market. So I love that. I love that data. This has been so awesome. Thank you so much for hanging out with me. Do you have any final parting wisdom for everybody who's listening?   Diania: Oh, man, I feel like I gave you all my gems, all of my sound bites.   Michael: So then let's go back and re listen to this episode if you're listening at home, and where can people find out more about you and the economy conference?   Diania: Yeah, so if you go to economeconference.com. And that's econome with an ME at the end, not an MY, because if you look at the spelling of my name, I really appreciate misspelled words.   Economy conference.com, you can read about all our speakers, you can see all the programming we have planned. You can buy tickets there. Again, it's happening in just a month. So it's right around the corner at the University of Cincinnati. And then you can also subscribe to Optimal Finance Daily, which is the daily podcast that I host and you can allow me to serenade you with the sweet sounds of personal finance knowledge.   Michael: Fantastic. Well, thank you again. I definitely look forward to seeing you again. And I will talk to you soon.   Diania: Awesome. Thanks so much, Michael.   Michael: Thanks and talk to you soon. All righty, everybody, that was our episode a big big, big thank you to Diana that was so much fun. One of one of the most fun episodes I think we've recorded in a long time. So a big thank you to her again. There are so many nuggets of wisdom, pearls of joy of gold, whatever the expression is, so definitely go back and give that episode another listen to again, thanks so much for listening. And as always, we look forward to seeing you on the next one. Happy investing

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 2, 2021 is: passel • PASS-ul • noun A passel is a large number or amount of something. // A passel of work emails awaited Jon on his return from vacation. See the entry > Examples: "'He's here!' the vehicle owners cheered as 100-year old driver of a 102-year-old Buick Irenee DuPont arrived again. DuPont then handily backed his car precisely into a parking place alongside a passel of other old vehicles." — Chris Barber, The Chester County Press (Oxford, Pennsylvania), 22 Sept. 2021 Did you know? Loss of the sound of "r" after a vowel and before a consonant in the middle of a word is common in spoken English. This linguistic idiosyncrasy has given the language a few new words, including cuss from curse, bust from burst, and passel from parcel.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for November 1, 2021 is: inane • ih-NAYN • adjective Inane means "lacking significance, meaning, or point." Synonyms are silly, empty, or insubstantial.    // The host of the show greeted the audience with inane, but funny, remarks. See the entry > Examples: "And because the leader insists 'There are no bad ideas,' everyone pipes up with inane or irrelevant suggestions." — Morey Stettner, The Investor's Business Daily, 24 Sept. 2021 Did you know? Inane suggests emptiness in thought or meaning, and as a noun it has similar use, as in "thoughts making excursions into the incomprehensible inane" (the example is attributed to the 17th-century philosopher John Locke). The noun is not often used nowadays, but the adjective fills the void.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 31, 2021 is: doppelgänger • DAH-pul-gang-er • noun A doppelgänger is a person who resembles someone else, or a ghostly counterpart of a living person. // The plot of the story thickens when the main character's doppelgänger turns out to be a wanted criminal. // In the movie, the child interacts with a ghostly doppelgänger. See the entry > Examples: "A paranormal investigation group … visited the historic opera house…. During the visit, the group claimed to have seen the spirit of Sorg sitting in the balcony, … captured audio of ghosts speaking and singing and photographed a doppelganger." — Lisa Powell, The Dayton (Ohio) Daily News, 14 Oct. 2021 Did you know? According to German folklore, all living creatures have a spirit double who is invisible but identical to the living individual. These second selves are perceived as being distinct from ghosts (which appear only after death), and sometimes they are described as the spiritual opposite or negative of their human counterparts. German writers coined the word Doppelgänger (from doppel-, meaning "double," and -gänger, meaning "goer") to refer to such specters.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 30, 2021 is: arch • AHRCH • adjective Arch means "principal or chief." // The hero's arch enemy wounded him, enabling her escape. See the entry > Examples: "Not being able to thank whoever gave this gift is causing me so much anguish I've started wondering if I have an arch nemesis, who sent it purely to torment me. If so, arch nemesis: my compliments." — Polly Hudson, The Mirror (UK), 24 Aug. 2021 Did you know? As a prefix, arch- appears in a number of titles referring to positions of superiority, such as archduke and archbishop; it can also mean "chief" (as in archnemesis) or "extreme" (archconservative). It comes from the Greek verb archein, meaning "to begin or to rule."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 29, 2021 is: procrastinate • pruh-KRASS-tuh-nayt • verb Procrastinate means "to intentionally put off doing something that should be done." // The student was procrastinating writing the report; however, the tutor provided the needed guidance and motivation. See the entry > Examples: "I will start with a confession: I procrastinated about writing this article for months. Postponing it put me in good company. The statistics are simple: 100 percent of people are guilty of procrastination." — Daniel Revach, Haaretz, 12 Sept. 2021 Did you know? We won't put off telling you about out the origins of procrastinate: it comes from the Latin prefix pro-, meaning "forward," and crastinus, "of tomorrow." The word means moving or acting slowly so as to fall behind, and it implies blameworthy delay especially through laziness or apathy.

Engineer of Finance
Conversation with Diania Merriam - Episode 195

Engineer of Finance

Play Episode Listen Later Oct 28, 2021 43:37


Diania Merriam is the founder of The EconoMe Conference, an event centered around financial independence, also known as the "Ted Talks'' of the FIRE movement. She's also the host of the popular podcast Optimal Finance Daily where she narrates articles from the best personal finance blogs on the planet. After getting out of $30k of debt in 11 months, she used her newfound financial freedom to negotiate a remote working arrangement with her employer, take a 2-month sabbatical to walk 500 miles across northern Spain on the Camino de Santiago, and launch her own business. Diania saves 60% of her income and is on track to be financially independent by the time she's 40 years old. Ken Greene transitioned from being a Professional Engineer (P.E.) to the “Engineer of Finance.” His goal is to help people become financially independent and help them earn better yields with less risk by investing Off Wall Street. Links and Resources from this Episode DISCLAIMER For resources and additional information of this episode go to http://engineeroffinance.com Connect with Ken Greene http://engineeroffinance.com Office 775-624-8839 https://www.linkedin.com/in/ken-greene https://business.facebook.com/GreeneFinance Connect with Diania Merriam https://economeconference.com/about/ https://www.instagram.com/economecon/ https://www.youtube.com/channel/UCaZHcGgBO42McWZPaSIJhYw https://www.linkedin.com/in/dianiamerriam/ https://twitter.com/economecon?lang=en    Book a meeting with Ken If you liked what you've heard and would like a one-on-one meeting with the Engineer Of Finance click here Show Notes Quick disclaimer. - 0:41 Who is Diania Merriam? - 2:09 Is retirement a service? - 2:31 It took Diania twenty months to produce her first event. - 5:43 The FIRE movement. - 9:06 How does she calculate her savings from the net of her income? - 10:16 With her epiphany, how did it incur? - 11:06 It requires a deep mindset shift. - 16:33 One of the things that she loves about discovering frugality. - 18:04 Credit cards: Enjoy them or against them? - 19:43 How does she define a saving strategy and an investment strategy? - 23:15 What attracted her to a 401k? - 25:20 The mindset of putting her money in different investment accounts: How does she position herself mentally? - 32:21 If you're pulling money out of your investments, then you didn't plan accordingly. - 35:38 Best ways to reach out to the Economy Conference and Diania. - 41:32 Review, Subscribe and Share If you like what you hear please leave a review by clicking here Make sure you're subscribed to the podcast so you get the latest episodes. Subscribe with Apple Podcasts Follow on Spotify Subscribe with Stitcher Subscribe with RSS

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 28, 2021 is: eloquent • EL-uh-kwunt • adjective Eloquent means "having or showing the ability to use language clearly or effectively" or "clearly showing feeling or meaning." // The guest of honor delivered an eloquent speech. // The dancer's movement was eloquent. See the entry > Examples: "Written as a dialogue with [Douglas Abrams], who has co-authored similar eloquent testaments with the Dalai Lama and Archbishop Desmond Tutu, this book mixes autobiographical details with a fiercely positive credo that has kept [Jane Goodall] fighting in the face of immense odds." — Kirkus Reviews, 1 Sept. 2021 Did you know? Since eloquent has to do with speaking, it makes sense that it comes from the Latin verb loquī, which means "to talk or speak." (The adjective loquacious describes a person who is skilled at or has the inclination for talking.) Expression of the self can be seen and not heard, which gives meaning to eloquent as an adjective for nonverbal impressive acts.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 27, 2021 is: treacle • TREE-kul • noun Treacle is a British word for molasses. The heavy sweetness of the syrup influenced people to apply its name to things overly sentimental. // From beginning to end, the movie had many lines of sentimental treacle.  See the entry > Examples: "But Parr's script swings so often between artistic triumph and personal tragedy that the structure quickly feels predictable, and lines likely intended to be inspirational sound more like pat treacle." — Steve Barnes, The Times Union (Albany, New York), 25 Aug. 2021 Did you know? Treacle begins in ancient Greece. The Greek word thēriakos, meaning "of a wild animal," came from thērion ("wild animal"). Since wild animals are often known to bite, these words gave rise to thēriakē, meaning "antidote against a poisonous bite." Latin borrowed thēriakē as theriaca. Those roots gave life to treacle referring to molasses (developing from the "antidote" sense). The "molasses" sense was extended to things excessively sweet or sentimental.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 26, 2021 is: facile • FASS-ul • adjective Facile means "too easily accomplished or attained." // The facts of the unsolved mystery were intriguing, but the author's conclusion was facile. See the entry > Examples: "It feels as though the songs just came to be. They reveal a facile elegance that does not let on the laborious writing and technical work that went into their creation." — Julien A. Luebbers, The Spokesman Review (Spokane, Washington), 20 Aug. 2021 Did you know? Facile comes from the Latin facilis, meaning "easy," and facere, "to make or do." The adjective can mean "easy" or "easily done," as befits its Latin roots, but it now often adds the meaning of undue haste or shallowness, as in "facile answers to complex questions."

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 25, 2021 is: hector • HEK-ter • verb Hector means "to criticize or question in a threatening manner." // The mediator asked the unruly members of the audience to cease hectoring the speaker. See the entry > Examples: "… a sport hectored by scandal and dogged by unanswerable questions." — Bob Ford, The Philadelphia Inquirer, 28 July 2019 Did you know? In Homer's Iliad, Hector, the eldest son of King Priam of Troy, was a model soldier, son, father, and friend, the champion of the Trojan army until he was killed by the Greek hero Achilles. So how did his name become a verb meaning "to intimidate or harrass"? That use was likely influenced by gangs of rowdy street toughs who roamed London in the 17th century and called themselves "Hectors." They may have thought themselves gallant young blades, but to the general populace they were swaggering bullies who intimidated passersby and vandalized property.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 25, 2021 is: hector • HEK-ter • verb Hector means "to criticize or question in a threatening manner." // The mediator asked the unruly members of the audience to cease hectoring the speaker. See the entry > Examples: "In budget meetings, ... Freeman hectored local publishers, demanding that they produce detailed numbers off the top of their head and then humiliating them when they couldn't. — McKay Coppins, The Atlantic, 14 Oct. 2021 Did you know? In Homer's Iliad, Hector, the eldest son of King Priam of Troy, was a model soldier, son, father, and friend, the champion of the Trojan army until he was killed by the Greek hero Achilles. So how did his name become a verb meaning "to intimidate or harrass"? That use was likely influenced by gangs of rowdy street toughs who roamed London in the 17th century and called themselves "Hectors." They may have thought themselves gallant young blades, but to the general populace they were swaggering bullies who intimidated passersby and vandalized property.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 24, 2021 is: mirage • muh-RAHZH • noun A mirage is a reflection of light that can trick the mind into interpreting a sight as an apparently solid thing. The word is also used figuratively to describe things that are illusory or unattainable. // What the shipwrecked crew thought was a ship on the horizon turned out to be a mirage. // The team's early season hopes for a first-place finish are now a mirage. See the entry > Examples: "Kozell spent the first day after the storm patching holes in his own roof, and he's been helping clients ever since. A day off is a distant mirage for workers like him and Hasan, who predict they'll be patching roofs for weeks to come." — Matt Sledge, The Times-Picayune, 6 Sept. 2021 Did you know? Mirage comes from the French verb mirer ("to look at"), which is related to mirror. Mirer, itself, is from Latin mīrārī ("to wonder at"), the ancestor of the commonly seen admire, miracle, and marvel.

Merriam-Webster's Word of the Day

Merriam-Webster's Word of the Day for October 23, 2021 is: bogus • BOH-gus • adjective Bogus means "not real or genuine"—it is synonymous with fake or counterfeit. // The art dealer proved the painting to be bogus. See the entry > Examples: "Investigators said Talens … cheated manufacturers and merchants of more than $31 million by producing bogus coupons that gave customers merchandise at steep discounts—or for free." — Jonathan Edwards, The Washington Post. 18 Sept. 2021 Did you know? In the early 19th century, a "bogus" was a machine used to make counterfeit coins. No one knows for sure how this coin-copying contraption got its name, but before long bogus became a name for funny money or for a fraudulent imitation of any kind. The more common "phony" adjective followed.