In this episode: success after FI, finding purpose, owning your time, investing in health, and spiritual pursuits.

While reaching your FI number and subsequently retiring is an amazing achievement in itself, what are you supposed to do with yourself after getting there? Well, figuring that out is also a big step you are going to have to take on your FI journey. This week, we are once again joined by Chris Terrell to discuss the ways you can fill your time after achieving FI, and how to identify what gives you purpose in your post-work life. Earning back your time is only half the battle, putting that time to good use is up to you and you only!

Timestamps:

• 1:20 – Introduction
• 3:02 – Success After FI
• 9:01 – What Do You Want To Do In Retirement?
• 16:06 – Finding Purpose
• 22:02 – Prioritizing Important Relationships
• 27:46 – The Benefits Of Owning Your Time
• 31:28 – Investing In Your Health
• 41:24 – Spiritual Pursuits and Volunteer Work
• 47:09 – Unstructured Time, Calendar Tyranny, and Work?
• 56:59 – Conclusion

Resources Mentioned In Today’s Episode:

• FI Frugal Hobbies | Chris Terrell | ChooseFI Ep 429
• The Happy Philosopher | The Happiest Man In The Room | ChooseFI Ep 49
• Financial Samurai
• The Tail End
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the pain of paying, anchoring, relative value, sunk costs, response to stimulus, and opportunity cost.

On this installment of the Book Club, we are joined by Clint Murphy and Ginger to discuss some of our favorite takeaways from Dan Ariely and Jeff Kreisler's "Dollars and Sense: How We Misthink Money and How to Spend Smarter," We often mention on this podcast the importance of actionable steps you must be willing to take while on the journey to FI, and this book is chalk-full of actionable tips and examples that could possibly be applied to many areas of your life, not just personal finance. While we know that personal finance is not unilateral and there are no correct steps and decisions that ensure success for everyone, we believe this book can help you better understand the decision making processes that goes into taking actionable steps on your FI journey! 

Book Club Selection:

• "Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dan Ariely and Jeff Kreisler

Timestamps:

• 1:21 - Introduction
• 4:20 - Reducing The Pain Of Paying
• 11:42 - Anchoring
• 19:01 - Opportunity Cost and Saying No
• 25:40 - Relative Value
• 30:20 - Why We Don't Understand Fairness and Value
• 38:49 - Sunk Costs
• 46:31 - Overvaluing What Your Already Have
• 50:07 - Spreading The Gap Between Stimulus and Response
• 57:21 - Conclusion

Resources Mentioned In Today’s Episode:

• The Growth Guide Podcast
• Clint's Twitter: @IAmClintMurphy
• FI is Fun
• The Great Man Within
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• "Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions" by Dan Ariely
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

This week we are re-joined by friend of the podcast, Travis Hornsby, to discuss some critical updates and deadlines pertaining to student loan forgiveness.

While the thought of paying off student loans can feel daunting, there may actually be some ways to mitigate the stress entirely! Though this episode may not pertain to your situation specifically, we believe it can act as a resource for some you may know, or others on this journey who are looking to potentially have their loans forgiven.

Travis Hornsby:

• Website: StudentLoanPlanner.com (link to discounted consult)

Timestamps:

• 1:14 - Introduction/Where Are We Today?
• 9:45 - Irreversible Decisions
• 11:55 - The PSLF and IDR Waiver
• 17:34 - $300 vs $1500 a month
• 23:30 - Searching and Patience, What Are The Action Steps?
• 31:33 - Conclusion

Resources Mentioned In Today’s Episode:

• The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391
• Federal Student Aid
• Book a Consult with The Student Loan Planner (Discount through this link!)
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: getting comfortable investing, the vision boards, salary negotiations, and the skill of spending

Whether it's wanting to pay off your debts or get yourself set up for your future, there are many motivations for wanting to begin the path towards FI. This week we are joined by listener and fan of the podcast Rakesh to discuss how his journey to FI has been over the last 3 years, and the lessons he’s learned along the way. We often stress on the podcast the importance of bold moves and taking action as an important step to achieving FI, and Rakesh is the embodiment of just that! Everyone on this journey starts from a different place, just as everyone’s long term goals differ, but don’t allow yourself to be bogged down by the little hiccups that come with this journey. By pushing ahead and being mindful of your short and long term goals, you may find yourself stepping out of your comfort zone towards the life you want to be living! 

Timestamps:

• 1:15 - Introduction
• 4:50 - The Evolution Of The FI Journey
• 12:52 - Getting Comfortable Investing
• 22:09 - The Vision Board
• 30:39 - The Skill Of Spending And Future Planning
• 37:13 - Low Cost Of Living Areas
• 43:05 - Salary Negotiating And Job Transitioning
• 53:11 - The Impact Of Staying Put
• 56:06 - Conclusion

Resources Mentioned In Today’s Episode:

• Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211
• Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147
• "Financial Feminist" By Tori Dunlap
• Community Building With Mr. Money Mustache And Mr. 1500 | ChooseFI Ep 131
• JL Collins
• "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" by Brian Feroldi
• Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

Oftentimes on our show, we talk to people on the FI journey with “regular” 9-5 jobs, and other times we talk to those who have achieved their FI goal and are able to retire from their careers. However, we rarely talk about money management and FI when it comes to those working in service industries, such as serving and bartending. This week we are joined by author Barbara Sloan to discuss taking control of your finances while in a variable income job, the importance of an emergency fund, and the attainability of retirement accounts and health insurance while in these types of industries. While it may seem unattainable to budget and financially plan for the long term when your income is non-fixed, you shouldn’t count yourself out from this journey! Creating your dream life is possible for all, with the right systems in place to ensure it, that is an option possible for those in all career types.

Barbara Sloan:

• Website: tippedfinance.com
• Book: "Tipped: The life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals"

Timestamps:

• 1:03 - Introduction
• 2:54 - Sub Minimum Wage And Tipping
• 14:03 - The Importance Of Tracking
• 21:06 - Tips, Taxes, and Social Security
• 35:28 - Strategies For Health Insurance
• 41:18 - Lifestyle Design/The Financial System
• 48:44 - Emergency Funds
• 54:27 - Conclusion

Resources Mentioned In Today’s Episode:

• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

There can be points on the journey to FI where you feel that you may not be able to accomplish your goals, or even take advantage of some of the hacks we talk about on the show. But sometimes all it requires is for you not to limit yourself and just think outside the box. This week we are re-joined by friend of the podcast Ginger to discuss how the transtheoretical model of change can apply to those on the path to FI, as well as read your emails and answer some of your questions on this installment of Round-Up. Oftentimes, we forget how flexible and capable of change we really are, and its life's curveballs that make this journey different for everyone. While setbacks can put you off from pursuing your goals, or make you feel as if you don’t belong on this path, they shouldn’t deter you from attacking your goals.  When you can accept that changing and adapting does not equal failure, you not only open yourself up to new options and possibilities, but exceed your own expectations while on the path to FI!

Timestamps:

• 0:48 - Introduction/Economy Conference
• 9:43 - Travel Wins
• 21:23 - Ancillary Travel Rewards Benefits
• 26:20 - Bold Move Update And The Transtheoretical Model of Change
• 40:58 - Determining Your FI Number
• 51:22 - The FI Pre-College Approach
• 58:11 - Savings Account Interest Rates And Community Win
• 63:11 - Conclusion

Resources Mentioned In Today’s Episode:

• Fees, Frugality, and 401K Fears | ChooseFI Ep 428
• Find Your Local ChooseFI Group
• CampFI
• Chautauqua
• FI Freedom Retreat
• Learning to Leave | Diania Merriam | ChooseFI Ep 416
• Catching Up To FI
• Bob Sharpe YouTube
• ChooseFI Travel Rewards
• Top Recommended Credit Card Offers From Our Partners
• Todoist
• Dominick Quartuccio
• How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238
• The $100K Glorified Sleepaway Camp | Millionaire Educator | Ep 386
• CIT Bank
• FI Is Fun
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the power of outside, overcoming adversity, the value of streaks, building momentum, and van life.

As we’ve discussed many times on our show, creating and maintaining habits are an important part of the FI journey. Not only does it require you to prioritize what you value, but it can lead to success in many areas of your life. However, while we talk about the success that habits can lead to, sometimes we overlook that starting a habit can be stressful or overwhelming. This week we are joined by Gregg from Outside365 to discuss what your life can look like when you align with your habits, and the momentum and value that can be found when you start to prioritize your habits a little bit each day. While it may seem overwhelming at times to start something new, whether it’s saving more and spending less, or even just picking up a new hobby, you may find that the more you do it, the easier it comes! Remember, while you may feel a sense of urgency to instill habits in your life, remember to be patient, and take it a day at a time! 

Outside 365

• Website: outside365.blog

Timestamps:

• 1:13 – Introduction
• 7:51 – The Power of Outside
• 12:53 – Overcoming Adversity
• 17:02 – Building Momentum
• 22:46 – Truly Being In Nature
• 28:52 – Plausible Outside Experiences
• 33:25 – The Value of Streaks
• 37:20 – Van Life
• 47:37 – Conclusion

Resources Mentioned In Today’s Episode:

• Subscribe to The FI Weekly!
• “The Nature Fix: Why Nature Makes Us Happier, Healthier, and More Creative” by Florence Williams
• “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear
• “Four Thousand Weeks: Time Management for Mortals” by Oliver Burkeman
• “Stolen Focus: Why You Can’t Pay Attention–and How to Think Deeply Again” by Johann Hari
• Huberman Lab Podcast
• Dave and Matt Vans

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: tackling the big issues, the everywhere effect, change and discomfort, and getting the most from what you have.

On this Podcast in recent months, we have made a point to highlight the fact that FI isn't about deprivation. While we do think making a few cuts in some areas is a good thing, we believe in that idea because it acts as a means to an end, with the endpoint being living the most fulfilling life available to you. So how is it possible deprive ourselves in a manner that doesn't leave us feeling deprived? Well, we have to skill up out our spending abilities.! This week we have Mr. Money Mustache on the podcast to discuss the skill of spending and how to approach utilizing your resources to ensure your own happiness and wellbeing. Make cuts in your life where there us a lack of purpose so you can level up areas of importance and passion!

Mr. Money Mustache:

• Website: mrmoneymustache.com

Timestamps: 

• 0:51 - Introdcution
• 4:15 - The Power Of Spending With Less Income
• 9:24 - Tackling The Big Issues First
• 17:06 - Change and Discomfort
• 19:55 - The Everywhere Effect
• 28:06 - The Power Of Community
• 31:45 - Getting The Most From What You Have
• 40:23 - Cost VS Comfort, Wheres The Line?
• 45:34 - Early Cutting Is Essential
• 50:53 - Conclusion

Resources Mentioned In Today’s Episode:

• Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s
• The Shockingly Simple Math Behind Early Retirement
• How to Go from Middle-Class to Kickass
• Outside365
• The California Effect
• Afford Anything With Paula Pant
• FIRE Dating
• "Die With Zero" By Bill Perkins
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: forming habits, fulfilling goals, routines, the importance of health, restriction without deprivation, and working on life.

While beginning your FI journey means having goals and taking necessary steps to achieve them, it may seem like you have to approach your life with discipline and absolute structure when it comes to money matters. While setting yourself up for success on this journey does mean creating different habits in regards to spending or investing, these habits should never seem absolute or deprive you from enjoying your life. This week we are joined by the Mad Fi-entist to discuss the evolution and the necessary changes he has made while on the journey to FI, and the beauty found with having a routine and creating meaningful habits. FI is a journey that requires you to experiment and change as the journey progresses. Not only will you learn about yourself on this journey, but you will pick up and exchange old habits for new ones that better suit the life you want to be living. Remember that while discipline is necessary for this journey, that does not mean you can’t evolve and change up your routine for the better! 

The Mad Fientist:

• Website: madfientist.com
• Podcast: Financial Independence Podcast
• Album: Find The Album Here!
• Twitter: @madfientist

Timestamps:

• 0:57 - Introduction
• 3:25 - Fulfilling Goals And Forming Habits
• 10:16 - Routine
• 15:25 - The Importance of Health
• 23:01 - The Evolution Of FI For Us
• 31:34 - The Skill Of Spending
• 40:15 - Working On Life
• 52:17 - Restriction Without Total Deprivation
• 61:35 - Conclusion

Resources Mentioned In Today’s Episode:

• "Ultralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career" by Scott Young and James Clear
• "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear
• Money With Katie
• "Die With Zero: Getting All You Can from Your Money and Your Life By Bill Perkins
• Mint
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: early financial conversations, what you truly value, house hacking, and the psychology of FI.

It can be scary to have to acknowledge the reality of your financial situation, especially if you feel you do not have the financial literacy to proceed with confidence. However, setbacks and failures can often be blessings in disguise. This week we are joined by The FI Couple to discuss the importance of perseverance and flexibility in the face of uncertainty, as well as the strength that can come from a united front. The journey to FI is deeply nuanced, and never perfect. While you may find yourself wanting to make your journey as optimal and expedited as you can, we know that life sometimes happens and your journey can be far from perfect. However, sometimes when we find ourselves at “rock bottom” and it seems like everything in our world is against us. Rather than feel defeated, allow the setbacks to act as momentum to charge ahead as you re-align and re-adjust! 

The FI Couple:

• Website: theficouple.com
• Socials: @theficouple

Timestamps:

• 0:49 - Introduction/The Early Days
• 2:05 - Early Financial Conversations
• 11:03 - Discovering What You Truly Value
• 21:28 - Bouncing Back After A Layoff
• 26:06 - Entrepreneurship
• 30:10 - House Hacking
• 38:34 - The Off Market/Solving Problems
• 43:13 - The Single Family Home/The Psychology Of FI
• 48:29 - The Season Of Hustle
• 51:56 - Conclusion

Resources Mentioned In Today’s Episode:

• Dominick Quartuccio
• Scott Trench
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: finding your why, creating space, deprivation, board games, lesson learning, and decision making.

Whether you’re years into your FI journey or just beginning, evaluating your finances and spending, you may feel like you have to make some cuts into your favorite hobbies in order to reach your goal quicker. However, deprivation and cutting out the things that bring enjoyment into your life should never be the only option. This week we are joined by friend of the podcast Chris Terell to talk frugal hobbies, new experiences, and the parallels between strategies in board games and the strategies employed while on the journey to FI. While trying to optimize your experiences may mean changing hobbies and evolving, while doing so you may find new enjoyment, new communities, and values that come with these changes. Not everyone may have the same approach to a game, just as not everyone will have the same approach to achieving FI, but as long as you remember that being open to changes will allow you to not only optimize your experiences on that journey but optimize your FI. 

Timestamps:

• 1:14 - Introduction
• 3:02 - FI And Pickleball
• 7:54 - Finding Your Why
• 12:50 - Happiness Is How You Fill Your Time
• 18:40 - It's Not About Deprivation
• 25:28 - Creating Space
• 35:46 - Strategy Board Games And Why They Are Great
• 45:54 - Strategy Boards Games, Decision Making, And Life
• 54:38 - The Top Four Concepts Of Strategy Board Games
• 72:58 - Starting Strategy Board Games
• 82:28 - Conclusion

Resources Mentioned In Today’s Episode:

• Mr Money Mustache
• The Motley Fool
• Board Game Geek
• Board Game Arena
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: personal investments, 401k contributions, FI is for everyone, travel rewards, task management, and taxes.

On what is considered a very personal journey, how do you handle changes that feel like setbacks? Whether its spending more when you feel you should be saving, or re-evaluating goals based on what needs immediate attention, do you feel equipped to handle it with confidence? This week we are having a weekly roundup, and are re-joined by Ginger to not only answer listener’s questions, but discuss travel rewards, retirement accounts, and breaking away from the ultra frugal caricature often depicted alongside FI. While saving is an important factor on this journey, the main purpose of FI is to learn and live your life with intention as it relates to your money, goals, and values. Remember that it’s okay if some of your goals and values will change along the way! Allowing yourself to be flexible as it relates to external factors, like market volatility and your investments, will give you more power and control to continue ahead with confidence and optimism! 

Timestamps:

• 1:04 - Introduction
• 3:31 - FI Is For Everyone
• 9:16 - Personal Investments
• 14:08 - Paying For Experiences
• 19:09 - An Introduction To FI
• 28:20 - Task Management
• 35:19 - Travel Rewards
• 47:06 - 401k Contribution Question
• 61:00 - Tax Season Hack
• 68:51 - The Content We Are Consuming
• 75:28 - Conclusion

Resources Mentioned In Today’s Episode:

• Four Thousand Weeks | ChooseFI Book Club | ChooseFI Ep 415
• "Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dr Dan Ariely and Jeff Kreisler
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• The Peter Attia Drive
• All The Hacks
• Taking Stock of Your Life | Jordan Grumet | ChooseFI Ep 390
• Playing With FIRE
• Todoist
• Tim Ferriss
• Huberman Lab
• My First Million
• ChooseFI Travel Rewards
• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9
• A Guided Meditation for When the Stock Market Is Dropping
• Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18
• "A Deadly Education" by Naomi Novik
• "The Premonition: A Pandemic Story" by Michael Lewis
• "The New New Thing: A Silicon Valley Story" by Michael Lewis
• "The Undoing Project: A Friendship That Changed Our Minds" by Michael Lewis
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the "average" withdrawal, Karsten's strategy, Fritz's strategy, fixed withdrawal rates, the bucket strategy, and refilling.

Preparing for retirement can look different for all on the journey to FI. All of our goals differ, but we are still in the mindset of positioning ourselves for the coming years. This week we are having a face-off between returning guests Karsten and Fritz, as they discuss their own receptive drawdown strategies, their advantages, and how you can best prepare yourself mentally and financially for your retirement. While a large part of preparing for retirement means saving, that does not mean you should be afraid to spend. Even in retirement, there are strategies that can allow you to not only spend comfortably within your means, but also spend confidently! 

Fritz & Karsten:

• Fritz's Website: theretirementmanifesto.com
• Karsten's Website: earlyretirementnow.com

Timestamps:

• 1:35 - Introcution
• 2:09 - Karsten's Strategy
• 6:05 - Fritz's Strategy
• 13:28 - Fixed Withdrawal Rates
• 18:08 - Your Retirement Spending Mentality
• 23:01 - The Source Of The Bucket Strategy Debate
• 30:46 - Refilling The Buckets
• 40:40 - The Cheap Gimmick
• 45:13 - The Importance Of Rebalancing
• 51:03 - The Key Takeaways/The "Average" Withdrawal
• 59:06 - Conclusion

Resources Mentioned In Today’s Episode:

• Our Retirement Investment Drawdown Strategy
• The Tail End
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• How to Calculate Your Safe Withdrawal Rate without using Simulations
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the 2.5 million dollar inversion, looking at the incentives, interest rates, your biggest asset, and potshots.

When you begin your FI journey, you may feel like you must follow a certain path or plan in order to achieve your desired outcome. However, the longer you are this journey the more you realize that it is a personal one that requires adaptability when so many factors can affect your bottom line. This week we are back with Scott Trench from BiggerPockets as he shares his insights on investing and looking at your portfolio from an “outset” perspective, as well as touch on the shape of the real estate market. It is important to remember that there is a lot of push and pull on this journey, and it is not meant to be perfect. While you may have expectations for your portfolio and your long term plans, there will be times where you will have to make tradeoffs. Just as the markets change and may signal uncertainties to come, remember that flexibility while maintaining your long term goals will allow you to feel more equipped to move through these times. 

Scott Trench:

• Website: BiggerPockets
• Podcast: The BiggerPockets Money Podcast
• Instagram: @scott_trench

Timestamps:

• 0:57 - Introduction
• 2:05 - The 2.5 Million Dollar Inversion
• 8:52 - Always Look At The Incentives
• 12:49 - The Traditional Path To FI And PotShots
• 17:45 - Your Biggest Asset/Should You Be Inefficient?
• 25:52 - Executing The Concept
• 31:12 - The Impact Of Interest Rates Today
• 42:21 - The Commercial Impact
• 52:10 - Buying Properties With Cash
• 56:21 - Conclusion

Resources Mentioned In Today’s Episode:

• Scott Trench | Set For Life | ChooseFI Ep 63
• First-Time Home Buyer | BiggerPockets | ChooseFI Ep 312
• "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki
• Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s
• BiggerPockets Rental Property Calculator
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the value of time, what are you optimizing for, bold moves, increasing your kid's odds for success, and balancing deprivation.

Because we have put so many leaders, members, and experts in our community on the hot seat here at ChooseFI, we figured it was finally time we played fair and put Brad on the hot seat himself! With the assistance of Aaron Lee, a longtime listener, friend, and host of "The Next Generation Leader Podcast," we ask Brad all the burning questions related to his FI journey. If you've ever been curious how Brad discovered FI, what led Brad to begin his FI journey, or what lessons Brad learned along the way, listen along as we re-live the path that helped form this amazing community!

Aaron Lee:

• Website: newgenerationleader.com
• Podcast: The New Generation Leader Podcast

Timestamps:

• 1:10 - Introduction
• 3:12 - The Value of Time
• 8:18 - Balancing Deprivation And The Burden Of FI
• 11:31 - Brad's Snowball Starter
• 16:13 - Brad's Childhood FI Vision
• 22:31 - What Are You Optimizing For?
• 28:45 - Helping Your Kids Increase Their Odds For Success
• 40:27 - All Of Us Are Working On Something
• 46:08 - Brads Bold Move Update
• 54:40 - What Else Fascinates Brad?
• 59:29 - Conclusion

Resources Mentioned In Today’s Episode:

• Year End Wins 2022 | ChooseFI Ep 417
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• The Peter Attia Drive, Episode #237 ‒ Optimizing life for maximum fulfillment | Bill Perkins
• All The Hacks | Die With Zero: Net Fulfillment Over Net Worth
• The Tail End
• "David and Goliath: Underdogs, Misfits, and the Art of Battling Giants" by Malcolm Gladwell
• Berkshire Hathaway Shareholder Letters
• Your Bold Move for 2023 | Dominick Quartuccio | Ep 419
• Limitless
• Peter Attia & Beth Lewis on Dynamic Neuromuscular Stabilization (DNS)
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: budgeting, the power of FI, different funds, living in the present, and the power to make your choices.

No matter your background or the hardships you’ve endured, you should never rule yourself out for success! Ruminating over your past mistakes can make you feel undeserving of the life you want, but those same mistakes can actually serve as motivation to propel you further on your journey! This week we are joined by returning guest Deanna to discuss how her FI journey has progressed in the last 4 years, the freedom and power she gained from budgeting, and an update on her journey of overcoming adversity. Just because you feel you’ve hit a rock bottom doesn’t mean this journey isn’t for you. A large part of FI is making mistakes, learning, and changing. An even larger part of this journey is learning to forgive yourself and others and continue on! For those who do not think they are capable of achieving FI because of their past, let Deanna and this episode serve as an example of what this journey can look like when you act with forgiveness and intentionality! 

Timestamps:

• 1:35 - Introduction
• 2:16  - Deanna's Backstory
• 6:26 - Dave Ramsey and Budgeting
• 14:16 - The Emergency Fund
• 17:30 - Different Funds For Different Things
• 23:35 - The Power of FI
• 27:12 - It's Not All Unicorns And Rainbows
• 30:28 - Broken Vessels Made Whole
• 34:42 - Chronic Stress and Living In The Present
• 43:36 - Deanna Today
• 48:10 - The Freedom To Make Your Own Decisions
• 51:54 - Conclusion

Resources Mentioned In Today’s Episode:

• From Addiction To FI | Ms. Fiology | ChooseFI Ep. 106
• "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" by J.L. Collins and Mr. Money Mustache
• The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal | ChooseFI Ep. 66
• "The Body Keeps the Score: Brain, Mind, and Body in the Healing of Trauma" by Bessel van der Kolk M.D.
• "Brain Rules: 12 Principles for Surviving and Thriving at Work, Home, and School" by John Medina
• "Forgive for Good: A Proven Prescription for Health and Happiness" by Frederic Luskin
• The Art of Forgiveness
• Todoist
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: what sparks goals, what are you optimizing you, valuing your time, and money prioritization.

Sometimes on the journey to FI, we ask ourselves the following; do I really need to spend money on this? Do I really have the time and resources for that? These questions may be easy to dismiss by saying no in order to stay on track with your financial goals, but by dismissing them, you could be missing out on something that is beneficial to your personal journey! This week we are joined by friend of the podcast, Chris Hutchins, to talk about the hacks for optimizing your life, the differences between cheapness and frugality, and the importance of valuing your time and what it can lead to. Saving money is an important part of achieving FI, but you should never feel so restricted that you miss out on investing your time and money in things that bring joy and value into your life. While saving is important, it’s okay to spend money. Whether it’s on a trip or investing in something new, there are ways to make it work without feeling guilt or shame. Prioritizing and valuing your time can introduce new experiences and provide happiness as well as perspective while on this journey! 

Chris Hutchins:

• Website: allthehacks.com
• Podcast: All The Hacks

Timestamps:

• 2:27 - Introductions
• 6:12 - Full Time Podcasting
• 11:44 - What Sparks Our Goals
• 18:35 - What Are You Optimizing For?
• 23:36 - Managing Your Own Money
• 31:28 - Money Prioritization
• 39:03 - Valuing Time
• 50:53 - Real Estate Investing And Complexity
• 58:23 - The Once A Year Review
• 65:28 - Prioritizing Health
• 75:23 - Conclusion

Resources Mentioned In Today’s Episode:

• feedback@choosefi.com
• Die With Zero: Net Fulfillment Over Net Worth | All The Hacks
• Buy Back Your Time: Get Unstuck, Increase Productivity and Live the Life You Want | All The Hacks
• Playing With FIRE
• The Drive With Peter Attia
• Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419
• Top Ways to Make This Year Amazing and Seven Simple Questions for Your Annual Review | All The Hacks
• My First Million
• Using an Investing Checklist to Improve your Portfolio | All The Hacks
• Paprika
• Delete Me
• Kubera
• Fancy Hands
• Eat Healthy and Save Money with the Laura Barrett Cookbook
• The 1% Rule in Real Estate: Is This a Realistic Way to Evaluate Rentals?
• House FIRE | ChooseFI Ep 414
• Rocket Money
• Todoist
• Trustworthy
• Peter Attia DNS
• Huberman Lab Podcast
• Optimizing Your Health: Diagnostic Tests, Choosing a Doctor, Sleep, Longevity, Inflammation and More | All The Hacks
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: taking the unconventional path, the price of time, early entrepreneurship, talent stacking, and the pursuit of learning.

At least once in most of our FI journeys, we have pondered what our life would look like if we started earlier. Maybe you have even wondered what value could've been gained if you had started in your teenage years. Well, for some context into the possibilities decision that could provide, we decided to have 17 year old listener Devin on the podcast to discuss what life can look like when you go against the cultural norm of going to college, and instead opting for an entrepreneurial and FI friendly lifestyle. Oftentimes we mention that there are rewards that come with stepping out of your comfort zone, and the same can be said for going against the societal norm and carving out your own path! For our younger audience who may be interested in getting started with their FI journey, let this episode be a useful resource and reassurance that this journey can begin no matter your age!

Timestamps:

• 1:55 - Introduction
• 5:28 - Taking The Unconventional Path
• 11:58 - The Cost Of Time
• 16:36 - Early Entrepreneurship
• 30:45 - Building The Talent Stack And Real Estate Investing
• 36:56 - The Pursuit Of Learning
• 45:18 - Saving And Investing
• 51:53 - Early Retirement Planning
• 69:49 - Conclusion

Resources Mentioned In Today’s Episode:

• Raising Voyagers
• TalentStacker
• House Hacking With Coach Carson | ChooseFI Ep 16
• My First Million Podcast
• Dominick Quartuccio
• M1 Finance Review 2022: Commission-Free Automated Investing For Everyone
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• How And Why To Set Up A Roth IRA Conversion Ladder | ChooseFI
• Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18
• "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" by Brian Feroldi
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: taxes, the secure act 2.0, the best news, roths, 529's, catch-up contributions, and the new options you have.

On December 29th 2022, Joe Biden signed into law the Secure 2.0 Act. As this law may have ramifications on your retirement tax planning, to stay ahead of the curve we decided to have The FI Tax Guy Sean Mullaney back on the show to discuss what this law is and ways one may be able to approach and utilize it going forward with there retirement planning. While laws and regulations may change, staying prepared and aware can keep us worry free as we prepare for the tail end of our FI journey!

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual.

Sean Mullaney:

• Website: fitaxguy.com
• Book: "Solo 401k: The Solopreneur’s Retirement Account"
• Twitter: @SeanMoneyandTax

Timestamps:

• 1:25 - Introduction
• 2:55 - The Most Important Change and The Best News
• 14:19 - More Roth Options
• 27:05 - The Backdoor Roths And Catch-Up Contributions
• 31:46 - New Options For 529's
• 42:27 - Conclusion

Resources Mentioned In Today's Episode:

• Secure 2.0 and The FI Community
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: mindfulness, removing judgement, thoughts creating reality, envisioning, awareness, and the hot seat.

Oftentimes on our show we like to remind listeners that achieving FI isn’t an end all be all to one’s problems, and that reaching financial independence doesn’t automatically equate to happiness. An important part of the journey is the work you do inward along the way, and this week we are tackling what that can look like. This week we are joined by coach and host of Mindful Fire podcast, Adam Coelho, to discuss the important link between mindfulness and FI, and the power our brains have to envision the life we want, and put dreams into action. Taking the time to be aware of how you’re thinking and feeling can be an effective tool. It will not only keep you centered, but allow for you to be open to experiences you might not have thought were achievable. So whether you are familiar with mindfulness practices or are curious where to begin, allow this episode to serve as a resource to begin or strengthen your practice! 

Adam Coelho:

• Podcast: mindfulfire.org
• MindfulFIRE.org/choosefi : Adam's Free Guide with takeaways, a short guided meditation and Adam's envisioning guide

Timestamps:

• 1:56 - Introduction
• 4:33 -The Definition Of Mindfulness/Removing Judgement
• 12:08 - Your Thoughts Create Your Reality
• 19:08 - Gateways To Meditation/Awareness
• 27:56 - The Science Of Mindfulness
• 35:50 - Envisioning
• 40:25 - It's Not Out There, It's In Here
• 49:27 - Mindfulness And FI
• 52:44 - Adam's Google Story
• 58:21 - Adam Takes The Hot Seat
• 76:06 - Conclusion

Resources Mentioned In Today’s Episode:

• Headspace
• Yoga Nidra
• Atomic Habits | James Clear | ChooseFI Ep. 157
• "Atomic Habits" by James Clear
• Calm
• Insight Timer
• Playing With FIRE Documentary
• "Altered Traits: Science Reveals How Meditation Changes Your Mind, Brain, and Body" by Daniel Goleman and Richard Davidson
• "Peak Mind: Find Your Focus, Own Your Attention, Invest 12 Minutes a Day" by Amishi P Jha
• Mark Divine
• All The Hacks
• "Die with Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• Alchemized Life| Jordan Harbinger: How to Build a Podcast | Episode 19
• "The Predicting Brain" by Regina Pally
• The Tail End
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: bold moves, building bold moves, dreams, themes, uncomfortable awareness, and finding energy.

For most people, a new year can signify new goals that we hope to accomplish. Regardless of where you are on the FI journey, the new year ushers in a time for change and welcomes the opportunity to learn and grow! In this episode we are re-joined by Dominick Quartuccio to discuss navigating new beginnings and designing your “Bold Move” as we enter the new year. Instead of having a new year’s resolution which may remind you of what you didn’t accomplish the year before, try making a bold move that can act as a quantifiable metric for designing the life you want to live! The journey to FI is filled with ebbs and flows, and with that comes lessons that allow you to grow and learn as you find your way towards the life you want to live!

Dominick Quartuccio:

• Website: thegreatmanwithin.com
• Course: The Bold Move Masterclass: Use Code CHOOSEFI For 50% Off
• Podcast: The Great Man Within
• Book: "Design Your Future: 3 Simple Steps to Stop Drifting and Start Living"

Timestamps:

• 1:21 - Introduction
• 7:20 - Quiet Desperation And Community
• 14:32 - The Bold Move
• 22:28 - Building A Bold Move
• 30:32 - Increasing Your Luck Surface Area And What Gives You Energy
• 33:50 - Finding Your Theme And Dream
• 39:28 - Uncomfortable Awareness And The Turbulence Of Life
• 47:19 - What You Want Will Reveal Itself, Eventually
• 56:27 - Using Bold Moves To Identify Dreams
• 59:04 - Conclusion

Resources Mentioned In Today’s Episode:

• Find Your Local ChooseFI Group
• "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" by Tim Ferriss
• "Outwitting the Devil: The Secrets to Freedom and Success" by Napoleon Hill
• "The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life" by Mark Manson
• "Man's Search for Meaning" by Viktor Frankl
• "Never Eat Alone, Expanded and Updated: And Other Secrets to Success, One Relationship at a Time" by Keith Ferrazzi and Tahl Raz
• John Olsen YouTube
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the federal reserve, interest rates, buying the hype, the problems with effortless earning, and narrative follows price.

It’s suffice to say this past year has been one of distinct changes from a financial perspective, with investment techniques and former practices no longer working the same as they did two years ago. However, there is much to be learned and a lot to be gained as we move forward into 2023. This week we are re-joined by a friend of the show Brian Feroldi to discuss his observations on the market changes, and lessons he learned over the course of 2022. Settle into the new year and tune in as we share our thoughts on the macro impact of the federal reserve, psychology of investing, inflation and interest as it relates to different kinds of assets, and so much more!

Brian Feroldi:

• Website: brianferoldi.com
• Twitter: @brianferoldi
• Course: Financial Statements Explained Simply
• Book: "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren’t" By Brian Feroldi

Timestamps:

• 1:46 - Introduction
• 6:51 - The Federal Reserve/Interest Rates
• 15:03 - Inflation Is Still Here
• 17:21 - Beware Of Effortless Money
• 24:14 - The State Of Crypto/Buying The Hype
• 33:48 - Is Cash Still Trash?
• 36:13 - Bonds Are Worth Consideration
• 39:25 - Growth Stock Troubles
• 46:31 - Narrative Follows Price
• 52:56 - Your Risk Level Is Revealed
• 56:09 - Conclusion

Resources Mentioned In Today's Episode:

• The Motley Fool
• The Simple Path to Wealth | JL Collins | ChooseFI Ep 411
• Early Retirement Now
• The Role Of Bonds In A Portfolio | ChooseFI Ep 194
• Subscribe to The FI Weekly!

More Helpful Links And Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

Happy Holidays! As the year's end approaches, it's only natural to look back and think of all that you’ve accomplished. Whether you just began your FI journey this year or are well on your way, recognizing the improvements you’ve made throughout the year is essential and worth celebrating! This episode is our 6th annual year-end wins episode, and we are re-joined by MK Williams to listen and read submissions from our listeners and celebrate the progress of our audience through different stages of their FI journeys! This episode is meant to not only inspire but remind us how personal this journey is, and remind you to take some time and reflect on the progress you have made this year. Celebrate the wins of your own, no matter how big or small!

Timestamps:

• 1:27 - Introductions
• 3:43 - Adrianna's Wins
• 6:00 - David's Wins And The Post-It Note
• 9:48 - Will and Abby's Wins And Retirement Accounts
• 13:45 - Melissa Devon, and Brittany's Wins, Traveling And Saving
• 16:40 - Dominic and Leila's Wins, Stacking Accounts And Side Hustles
• 20:35 - Erica's Wins And Leveling Up In Life
• 24:11 - Justin's Wins And Financial Wellbeing
• 27:41 - Kristen's Wins And Paying Off The Mortgage
• 30:38 - Tommy's Wins And Changing Careers
• 33:24 - Wes And Sarah's Wins, Erasing Debt And Job Upgrades
• 35:50 - Lindsey's Wins, Travel Rewards And 2-Player Mode
• 38:18 - Tom and Danielle's Wins, Taking Action And Paying Off Student Loans
• 40:00 - Kelly's Wins, Budgetting And Communities
• 42:41 - Yvette's Wins And Making FI Do-Able
• 44:42 - Dennis' Wins And From Student Loan's To Disney World
• 47:00 - Valerie's Wins And Dumbfounding The Experts
• 48:56 - Dilyara's Wins And Crushing Early Stage FI
• 51:19 - Lauren's Wins And Doing The Legwork
• 56:28 - Conclusion

Resources Mentioned In Today’s Episode:

• "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Bryce Leung and Kristy Shen
• From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297
• Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022)
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: using your resources to create change, your employer is your customer, identifying discrimination, and abundance mindsets.

For some on the journey to FI, it may seem like you must at all cost continuously strive to meet your monetary goal as quickly as possible. However, staying in toxic and unfulfilling work environments to hold the course with your goal is not what this journey is about. This week we are re-joined by Diania Merriam to have an intimate conversation about leaving a toxic work environment, navigating internalized beliefs, and the power and control gained while on the journey to FI. The greatest part of this journey is not only the earning and having more financial resources, but rather learning that your money is a tool you can use to reclaim your time! Remember, striving for FI is never about deprivation or devaluing yourself, nor does it mean tolerating poor treatment in order to stay on track!  

Diania Merriam:

• Website: EconoME Conference (Promo Code "CHOOSEFI")
• Podcast: Optimal Finance Daily

Timestamps:

• 2:00 - Introduction
• 4:25 - The Resignation
• 15:46 - Identifying Discrimination
• 25:07 - Culture Shifts And Subtleties
• 30:10 - Using Your Resources To Create Change
• 33:12 - Allowing Your Money To Protect You And Coast FI
• 40:28 - Operating From An Abundance Mindset
• 48:57 - Your Employer Is Your Customer
• 54:20 - Shifting From Saving To Covering Expenses
• 62:30 - EconoME Conference
• 66:56 - Conclusion

Resources Mentioned In Today’s Episode:

• What I've Learned From One Year Of "Fun-Employment" - Diania Merriam
• The Reality Of Leaving A Toxic Work Enviornment - Diania Merrian
• Accountability | Diania Merriam | ChooseFI Ep 150
• Myths and Misconceptions | Diania Merriam | ChooseFI Ep 306
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: slowing down, stoicism, finding something to neglect on purpose, focusing on the present, flow states, and actionable steps.

Throughout the history of this podcast we have had many guests discuss books that have offered great advice and education to them on the Journey to FI, and with the large selection to choose from we can't think of a better time to start working down the list! On today’s episode we are joined by Josue and Ginger in our new series The Choose FI Book Club. This week, we’ll be sharing our thoughts and takeaways from the book "4,000 Weeks: Time Management for Mortals" by Oliver Burkeman, as well as share some opinions on the book from our listeners who shared their opinions with us! While many of us on the Journey to FI feel that this lifestyle can be very future-driven, it can be overwhelming to want to accomplish so much with only so much time. This book reminds us that time is finite, and you can’t spend it worrying about what you have or haven't yet accomplished. Instead, it may be best to live in the present and appreciate the day to day as it relates to your journey. Having a timeline and working towards the finish line is part of the journey, but remember that the decisions you are making in your life and the experiences that come with it are just as important as the end result!

Book Club Selection:

• "Four Thousand Weeks: Time Management for Mortals" by Oliver Burkeman

Timestamps:

• 1:48 - Introduction
• 2:41 - The Concept Of Reading And Retaining
• 6:23 - Slowing Down And Focusing On What's Important
• 10:20 - Stephanie's Observation
• 18:53 - Amy's Observation And Stoicism
• 23:52 - You Can't Do Everything And CJ's Observation
• 30:29 - Choosing Something To Neglect On Purpose
• 33:34 - Shelleys Voicemail And Finding Time To Spend With Others
• 39:42 - Josh's Voicemail And Planning For The Future While Not Forgetting The Present
• 46:31 - Flow States
• 50:27 - Gayle's Perspective And Criticism Counterpoints
• 57:45 - The Action Steps Taken By YOU
• 61:47 - Our Actionable Steps
• 65:34 - Conclusion

Resources Mentioned In Today’s Episode:

• 18 Months of Massive Action | Josue | ChooseFI Ep 406
• The Imperfectionist
• The Mad Fientist
• "Outwitting the Devil: The Secrets to Freedom and Success" by Napoleon Hill
• The Great Man Within
• "Finding Flow: The Psychology of Engagement with Everyday Life" by Mihaly Csikszentmihalyi
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• "A Complaint Free World: How to Stop Complaining and Start Enjoying the Life You Always Wanted" by Will Bowen
• Ginger's Blog "FI Is Fun"
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: the value of a door, the hour FIRE method, tax breaks, focusing on income, and return on hassle.

Many of our listeners have tuned in to hear our guests discuss the real estate market, mortgages, and taxes as it relates to obtaining property. However, many of us on the road to FI may not realize how scaling the properties you own can actually act as a mutual fund-like portfolio. On this week’s episode we are joined by our new in-house real estate expert, author, and podcaster, Alan Corey. Alan sheds light towards what expanding your real estate portfolio can look like from from a larger standpoint, and how approaching investment from a spreadsheet rather than lifestyle point of view can ultimately offer greater returns in the long run. While we know many listeners may be apprehensive to consider investing in multiple or larger real estate properties, or how this may not seem like a feasible option, this episode is available to you to educate and offer the mental framework on how to approach real estate in a way that it can be achievable!

Alan Corey:

• Website: realestatemaxi.com
• Podcast: Real Estate Maximalist
• Book: House FIRE: How to Be a Red–Hot Real Estate Millionaire with a Wealth of Time and Money

Timestamps:

• 1:57 - Introduction
• 2:48 - The Value Of A "Door" And The Business Behind It
• 8:21 - Navigating The Sea Of Options
• 16:35 - Reducing Vacancy Impact/Maximizing Potential
• 23:37 - Tax Breaks
• 29:54 - The House FIRE Method
• 39:33 - Focusing On Income
• 49:59 - Selling 50 Doors
• 61:19 - Return On Hassle/Million Dollar Value Properties
• 67:50 - Conclusion

Resources Mentioned In Today’s Episode:

• "A Million Bucks by 30" by Alan Corey
• Coach Carson
• Paula Pant
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: success on paper, building the life you want, therapy, craving progression, and what leads to change.

When beginning and well into your FI journey, it may seem like reaching and achieving your end goal of financial independence will somehow leave you feeling happier and more fulfilled. However, reaching this end goal doesn’t automatically solve all your problems. On this week’s episode we are joined by founder of FindMoreBalance.com and host of "The Mental Wealth Show" Rich Jones to have a conversation about mental health, rebuilding mindset and behaviors, and importance of finding your network of support in life. The FI journey is a great one because it allows you to introduce changes into your life, and no matter how big or different the changes are, they are still significant! The best part of this journey is that it is a personal one, so try to remember that! While the end goal may be reaching a monetary number, it is also about rebuilding and progressing into the person you want to be in all areas of life!

Rich Jones:

• Website: richrunstrack.com
• Podcast: The Mental Wealth Show
• Instagram: @richrunstrack
• LinkedIn: Rich Jones

Timestamps:

• 4:12 - Introduction
• 5:36 - Success On Paper
• 12:31 - The Inflection Point, What Made You Change?
• 16:14 - Therapy
• 20:54 - Re-Finding The Person You Want To Be
• 27:38 - Craving Progress And Mastery
• 35:11 - Rebuilding Your Day-To-Day Life
• 43:50 - Leveraging Your Career To Get More From Life
• 52:21 - Conclusion

Resources Mentioned In Today’s Episode:

• LeaveUs A Voicemail For Your Year End Wins
• The Top Chase Business Credit Cards for 2022
• Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403
• The Tail End
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode; global funds, it's not doctrine, index funds, VTSAX, what is in index funds, and the opposite of active investing.

If you've been in the FI community for a while now, you've probably at one point have heard of index Funds. However, whether you are familiar with this concept of investing, have invested in index funds, or are unfamiliar entirely, you may not necessarily know the mechanics and specifics of what certain types of index funds can actually do for you on your FI journey. This week we are rejoined by Alan and Katie Donegan, co-founders of The Rebel Finance School, to dive into the topic of index funds. Together, we discuss the differences between certain types of index funds, fee structures and returns, self-regulating funds, as well as break-down the benefits of what certain types of index funds can provide for you regardless of market and economic fluctuations! While we are not giving direct financial advice on what invest in, this week’s episode is meant as a resource to our listeners who may be curious to learn more about index funds and passive investing! 

Katie & Alan Donegan:

• Website: alandonegan.com
• Podcast: alandonegan.com/podcast
• Rebel Finance School: www.alandonegan.com/rebelfinance
• VTSAX Breakdown: alandonegan.com/vtsax

Timestamps:

• 4:11 - Introductions
• 5:13 - What Is In Index Funds
• 11:19 - Global Funds
• 21:54 - It's Not Doctrine, Don't Get Bogged Down In The Details
• 25:50 - Am I Getting What I Want When I Invest? Should I Be Concerned?
• 35:14 - The Opposite Of An Active Investor
• 45:09 - Is Cap-Weighting The Only Way To Run Index Funds?
• 52:50 - Is There A Future Where Passive Investing Isn't A Good Option?
• 57:46 - Conclusion

Resources Mentioned In Today’s Episode:

• Leave A Voice Message Of Your Year End Wins
• The Top Chase Business Credit Cards for 2022
• The Simple Path to Wealth | JL Collins | ChooseFI Ep 411
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: VTSAX funds, bonds, cap-weighted funds, finding your ballasts, staying the course, and the simple path to wealth.

This week, we are getting back to the basics! While many of you who have been in the FI community for a while now have definitely heard of JL Collins, those who are new should absolutely be prepared to absorb the wealth of information he provides every time he decides to grace our podcast! Listen along as he and Brad review the basic information that can put you on the simple path to wealth that so many in the FI community have walked! Believe it or not, creating wealth for yourself can be simple!

JL Collins:

• Website: jlcollinsnh.com
• Book: The Simple Path to Wealth: Your road map to financial independence and a rich, free life
• Chautauqua: Get Information About Chautauqua Here!

Timestamps:

• 1:46 - Introduction
• 2:40 - Back To Basics, What Is The Simple Path To Wealth
• 10:15 - Low-Cost Funds And High-Cost Funds
• 14:56 - Index Funds Are For Lazy People (Just Kidding!)
• 20:00 - Is It VTSAX Or Nothing?
• 26:58 - Cap-Weighted Funds
• 30:53 - Staying The Course
• 36:32 - Are There Times When Index Funds Aren't A Good Choice?
• 42:28 - The Highest Likelihood Of Replicable Success
• 46:38 - Bonds
• 51:36 - Rising Rates
• 55:17 - I-Bonds
• 58:22 - Finding Your Ballasts
• 64:55 - Conclusion

Resources Mentioned In Today’s Episode:

• JL Collins from jlcollinsnh | The Stock Series | Part 1 | ChooseFI Ep 19
• The Stock Series Part 2 | JL Collins | ChooseFI Ep 34
• What is The Simple Path to Wealth? | JL Collins | ChooseFI Ep 284
• Alan and Katie Donegan's VTSAX Blog
• Chautauqua | Oh The Places We Will Go | ChooseFI Ep 64
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: finding mentors, the superpower of making less, traveling while making less, rental properties, and the one percent rule.

For some who begin the FI journey, it's about doing all they can to reach that FI number, but for many people the journey to FI is about the people you meet and learn from along the way! On this week’s episode we are joined by longtime listener Kelly Cronin to discuss the importance of mentorship, her interesting take that gives a new meaning to traveling while working, and the importance of pursuing what drives you and leads to a life filled with with intentionality. In Kelly's case, a passion towards travel lead to a fascinating side-hustle that affords her the opportunity to make money while seeing the world, who knows where a passion could end up leading you?

Kelly Cronin:

• Website: croninscastles.com
• Rental Property Class: Cronin's Castles STR Class

Timestamps:

• 1:55 - Introduction
• 3:11 - Kelly's Early Financial Influence
• 6:45 - Finding Mentors
• 9:02 - The Superpower of Making Less
• 15:26 - Traveling While Making Less
• 21:09 - Rental Properties
• 29:54 - The Mechanics of Acquiring Rental Properties
• 34:23 - The 1% Rule
• 41:32 - Running The Numbers
• 46:50 - How Is Kelly Marketing This?
• 55:46 - The FI Aspect, How Does This Intersect With Your Job?
• 64:20 - Where Do You Go From Here?
• 65:37 - Conclusion

Resources Mentioned In Today’s Episode:

• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9
• Peter Attia
• Huberman Lab
• Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403
• Intuit Mint
• The BiggerPockets Money Podcast
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: w2 employment to self-employment, s-coporations vs self-employment, avoiding penalties, megas backdoor roths, retirement planning, and health insurance.

Most of us are familiar with a W2 job, and there is a certain level of convenience that comes with working a W2 job as it relates to retirement planning and taxes. So much so that it can be daunting to want to embark out on your own journey and have to figure it all out on your own. This week we are re-joined by our “in-house tax expert” Sean Mullaney to discuss the tax and retirement sphere as it relates to being self-employed. While we are not offering advice, this week's episode is meant to act as a resource to listeners curious about the steps and unknowns that come with the self-employment territory. With the same excitement and motivations gained from getting to run your own business, those same motivations and excitements can still be applied to navigating your retirement and taxes once you remember that it is now within YOUR control!  The fear of the unfamiliar may not be as daunting and complicated as you may think, and figuring out these factors requires you to take the same initiative and action that is required throughout your entire FI journey! 

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual.

Sean Mullaney:

• Website: fitaxguy.com
• Book: Solo 401k; The Solopreneur's Retirement Account

Timestamps:

• 1:42 - Introduction
• 2:38 - W2 Employment to Self-Employment
• 11:34 - S-Corporations vs Self-Employment
• 14:03 - Avoiding Penalties When Making Estimated Payments
• 19:29 - Saving For Retirement As An Entrepreneur
• 24:00 - Employee vs Employer 401k Limits and Mega Backdoor Roth
• 33:54 - Is The Mega Backdoor Plausible For The Self-Employed?
• 41:03 - Roth IRA Conversions
• 43:15 - Addressing The Uncertainty Around The Employer Maximum
• 53:40 - ACA Plans and Navigating Health Insurance As A Solopreneur
• 63:34 - What Counts As Income?
• 68:41 - Conclusion

Resources Mentioned In Today’s Episode:

• Paying Taxes When You're Self-Employed
• IRS Publication 560
• IRS Form 8962 Instructions on Premium Tax Credit
• IRS Publication 974 Premium Tax Credit
• Creating Your Dream Job | ChooseFI Ep 117R
• Roth IRA Conversion Ladder Case Study | ChooseFI 163R
• Healthcare.gov ACA Plans
• Cody Garrett's Tweet Illustrating ACA Medical Insurance Premiums and PTCs
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: taking action, travel rewards, career progression, the mission to net zero, and value propositions for college.

Whether you were raised to live frugally or if the lessons and lifestyle of FI are just now being introduced into your life, the journey to FI is full of ebbs and flow, not only with your finances, but with the knowledge you pick up along the way. This week we are joined by Audrey to talk about her journey with FI, her path to intentionality, and to discuss the power of optimization. Everyone who begins the FI journey comes from a different place of financial literacy, and a lot of the times we may grow up following the “do’s and don’ts” of financial planning that we were raised with. However, you may be missing out on new ways to optimize your FI journey! The best part about FI is that it's a personal journey that allows you to learn new ways to plan, as well as new ways to reallocate your savings and spending in order to live your best life in the present and future! 

Timestamps:

• 1:53 - Introduction
• 5:03 - Natural Savers
• 8:25 - Value Propositions For College
• 11:40 - Tackling Student Loans, The Mission To Net Zero
• 20:50 - Traveling On Points/Travel Rewards Cards
• 28:59 - Travel Rewards Hotel Strategy and Point Optimization
• 32:23 - Credit Cards and Children/Second Generation FI Training
• 34:50 - Taking Action In Your Post-Debt Life And Evolving
• 42:16 - Career Progression and Optimization
• 47:18 - Audrey Takes The Hot Seat
• 55:24 - Conclusion

Resources Mentioned In Today’s Episode:

• Dave Ramsey
• Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022)
• Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393
• The Tail End
• "Die With Zero" By Bill Perkins
• TalentStacker's Salesforce Career Development Program
• Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117
• From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297
• From Stay At Home Parents to High Paying Salesforce Careers in Under 6 Months | Salesforce For Everyone
• Mama Bear Apologetics
• All the Hacks
• Join ChooseFI's Facebook Group!
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: growth during the job hunt, exploring entrepreneurship, tips for career growth, and second generation FI.

It's only natural that on the journey to FI you will want to pivot. Whether it is your financial outlook or even your career outlook, it's only natural to have reservations about making a change that could benefit you in the long run.  On this week’s episode of  The Households of FI, we are joined by Kristi to fill us in on how her FI journey is going, as well as discuss the topic of “leveling-up”. Changing jobs or moving on to the next career chapter while on the journey to FI can seem farfetched, because often times we want to stick to what is familiar and what is more in line with our plan. However, there is no shame in expanding your network and your options in terms of finding better employment that is more aligned with your values! Don't be afraid to be “un-stuck” and see what career options you have, and make sure you are surrounded by those who are aligned with the same principles as you are! 

Timestamps:

• 2:03 - Introduction
• 3:41 - An Update From Kristy
• 5:53 - Growth During The Job Hunt
• 13:03 - Tips For Career Growth
• 19:45 - Exploring Entrepreneurship
• 23:39 - The Finances Of Engagement
• 27:07 - Being On The Same Page Financially As Your Partner
• 31:48 - Where Is Your Salary Raise Going?
• 38:59 - Laying The Seeds For Second Generation FI
• 51:52 - Conclusion

Resources Mentioned In Today’s Episode:

• Kristi & Big Ern | ChooseFI Ep 259
• Is My Company’s Stock Overpriced | P/E Ratio Explained | ChooseFI Ep 314
• Career Hacking With ESI Money | ChooseFI Ep 23
• Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211
• Rebel Entrepreneur
• Alan and Katie Donegan's Free Extraordinary Life Course
• Money With Katie | Katie Gatti | ChooseFI Ep 399
• Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296
• The Simple Startup
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with

In this episode: taking action, asking questions, navigating information, getting to where you want to go, the reason we learn, and growth mindsets!

Beginning your FI journey often means facing a lot of unfamiliar knowledge being thrown at you. With all the resources and alternative information provided, we know firsthand that it can be overwhelming. However, you should not feel intimidated to start your FI Journey! This week we are joined by an avid ChooseFI listener Josue to discuss the power that comes with learning new information, as well as the importance of taking action from information presented! No matter what financial or educational background you come from, your FI journey starts from a personal square one. Whether the information and knowledge presented from this journey is completely new or relatively familiar, there can be a sense of motivation that can be gained from continuing this journey! If you are searching for early FI excellence defined, then look no further than Josue!

Timestamps:

• 1:48 - Introduction
• 2:41 - 18 Months Ago...
• 5:53 - What Made You Chase FI?
• 10:43 - Taking Action and Asking Questions
• 17:30 - Growth Mindset and Changing
• 20:07 - Navigating Information/Combatting Echo-chambers
• 33:07 - Getting Where You Want To Go and How Josue Did It
• 39:40 - The Cost of Not Knowing
• 42:43 - Retirement Accounts
• 51:50 - This is Why We Learn/Life Insurance
• 56:36 - Leasing Cars
• 60:16 - Savings Rate Based On Value
• 65:47 - Josue Takes The Hot Seat
• 77:09 - Conclusion

Resources Mentioned In Today’s Episode:

• Flexible Spending Rules For Early Retirees | ChooseFI Ep 176
• JL Collins
• "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" by JL Collins
• "Influence: The Psychology of Persuasion" by Robert B. Cialdini
• The Knowledge Project
• "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear
• The Trades Path To FI | Captain DIY | ChooseFI Ep 103
• The 18-Year-Old Who Actually Listened | Ep 388
• Just Keep Buying | Nick Maggiulli | Ep 404
• Leasehackr
• "Four Thousand Weeks: Time Management for Mortal" by Oliver Burkeman
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: income-producing assets, REITs, the 4% rule, optimal spending, saving too much, and why you will never feel rich.

It is believed that in order to reach FI, cutting expenses and limited spending seems like the ideal way to your end goal, but are you missing out on ways to spend-to-earn because it feels right? Well, this week we are rejoined by friend of the show and guest host Brian Feroldi to interview Nick Magguilli, author of the excellent book Just Keep Buying: Proven Ways to Save Money And Build Your Wealth. Together we discuss using data to grow your wealth and fighting the stigmatization of spending your money. On the journey to FI it is easy to focus more on saving so much that we’re afraid to spend, however, by not spending we could be missing out on assets, both monetary and non-monetary, that could bring us greater fulfillment in the present and future! By rethinking your approach to spending, rather than looking at it as something that is negative, you may find that your money can go farther for you when its spent rather than saved! 

Nick Maggiulli

• Website: ofdollarsanddata.com
• Book: Just Keep Buying: Proven Ways to Save Money And Build Your Wealth
• Twitter: @dollarsanddata
• Instagram: @nickmaggiulli

Brian Feroldi

• Website: The Motley Fool
• Book: Why Does The Stock Market Go Up?
• Twitter: @BrianFeroldi

Timestamps

• 1:29 - Introduction
• 2:31 - Just Keep Buying
• 9:27 - Income Producing Assets
• 10:55 - Macro-Level Mind Changers
• 14:08 - REITs
• 16:57 - You Can Save Too Much?
• 21:40 - How Nick Thinks Through The 4% Rule
• 26:20 - Spending Optimally
• 30:59 - Catching Up Financially Through Exercise
• 34:01 - Examining 401k Maxxing
• 38:47 - Saving Raises
• 41:50 - Why You Will Never Feel Rich
• 46:16 - Investment Properties & Nick
• 47:55 - Conclusion

Resources Mentioned In Today’s Episode

• 3 words got me 3 MILLION SUBSCRIBERS
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• "The Tail End" By Tim Urban
• Peter Attia
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: balancing deprivation and happiness, making adjustments, everything is negotiable, the evolution of alignment, adjusted awareness, and intentionality in community.

Five years ago, Scott and Taylor Rieckens publicly began their path to FI by creating the fantastic documentary "Playing With FIRE." The documentary depicts their life as they start out and navigate the early stages of their FI journey, which is often the period of time when we act our most frugal, cut as many expenses as possible, and in turn save as much as we possibly can! While this kind of lifestyle is a great jumping off point early in the FI journey, oftentimes people find this lifestyle to be limiting and ultimately detrimental to their own happiness. Now that Scott and Taylor are significantly further down the path compared to the last time we heard from them, we decided to have them return to the show to discuss the adjustments they have made in their lifestyle in order to live in a manner that fully aligns with their idea of a happy life! Remember, FI isn't suppose to limit your ability to be happy, rather it exists to enhance your life and help you find fulfillment as progress down the road less traveled.

Scott and Taylor Rieckens:

• Website: playingwithfire.com
• Documentary: Playing With FIRE
• Book: Playing With FIRE

Timestamps:

• 1:59 - Introduction
• 2:38 - What Makes You The Most Happy?
• 8:41 - The Evolution of Alignment and Adjusted Awareness
• 18:30 - The Craziest 36 Months
• 23:13 - Revisiting What's Important After Evolution
• 35:05 - Balancing Deprivation and Happiness
• 37:58 - Making Adjustments
• 43:03 - Decisions Are Based On The Information You Have
• 49:57 - Wonderful Evolutions and Learning Together
• 51:23 - Everything is Negotiable
• 57:02 - Everybody is the Star of Their Own Movie / Intentionality in Community
• 66:34 - Conclusion

Resources Mentioned In Today’s Episode:

• Playing With FIRE | Documentary | Scott Rieckens | ChooseFI Ep 37
• "The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work" by Shawn Achor
• The Tim Ferris Show
• The Great Man Within
• "Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" by Annie Duke

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: the beauty of community, misleading expectations, doing what's best for your situation, and stress reduction.

The Journey to FI is hardly linear and is full of ebbs and flows. While it may seem easier to share your wins/successes within this community, we know it can be even harder to share the moments of this journey that feel like setbacks. On this week’s installment of the Households of FI series, we are joined again by Vivian to fill us in on how her FI journey is going, and the importance of finding support within this community. Everyone’s FI journey is unique to them, but it doesn’t mean that you are alone! The beauty of FI is that it offers you a community to share your successes, as well as share your struggles. By being vocal and unafraid to admit that you are having a hard time, you are not only sure to garner support from others facing similar battles, but can find a renewed sense of motivation to make you feel more accountable and present on this journey! 

Timestamps:

• 1:57 - Introduction
• 4:14 - The Beauty of Community
• 7:56 - Expectations Are Misleading
• 13:37 - It's Not Black and White, Do What's Best For You
• 18:30 - Ask For What You Deserve
• 22:10 - Reducing Stress and Addressing Your Situation
• 28:51 - Life Is Not A Straight Path
• 31:02 - Retirement Withdrawals and The Market
• 38:33 - You Are Not Alone
• 40:14 - Conclusion

Resources Mentioned In Today's Episode: 

• Introducing Our Households of FI!! Part 1 | Ep 221
• If People Can Do It I Can Do It Too | Vivian Connects With Leslie Tayne | Households Of Fi | Ep 255
• Navigating a Multigenerational Household | The Financial Tortoise | EP 302
• Brian Feroldi
• JL Collins
• "Just Keep Buying: Proven Ways to Save Money And Build Your Wealth" By Nick Maggiulli
• Mega Backdoor Roths: How They Work

More Helpful Links and Resources: 

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: finding unknown opportunity, creating your lifestyle as you go, overcoming the down period, real estate renting, and what reaching FI looks like.

Once you’ve set your FI number and put plans into action, it’s tempting to want to do everything in your power to reach that goal as soon as possible, potentially by working longer hours or cutting out expenses in your life in order to save more. But by doing this are you cultivating the lifestyle you want to live after your goal is met? On this week's episode we are re-joined by Court from Modern FImily to update us on her FI journey, the changes she has made over the last few years, and her rewarding takeaways from being flexible on her journey. The beauty of FI is that it is a personal journey, and it’s one YOU create to reflect YOUR lifestyle! It is important to remember that by rushing to meet your goal, you may be adding more stress than needed, and missing out on the lessons, hacks, and new opportunities (or use experiences) that come with starting this journey! 

Court From Modern FImily

• Website: modernfimily.com
• Instagram: @modernfimily

Timestamps

• 1:51 - Introduction
• 2:28 - Update From Courtney
• 8:22 - Testing to Find Unknown Opportunity
• 14:19 - Creating Your Lifestyle on the Journey
• 20:10 - Overcoming the Down Period
• 25:27 - What Do You Want Your Life to Look Like?
• 28:30 - Finding Free Activities
• 37:03 - Annual Passes and Finding Groups
• 41:25 - Real Estate Renting and Simplicity
• 48:37 - Flexibility and Taking Advantage of Whats Available
• 52:04 - What Reaching FI Looks Like
• 64:23 - Conclusion

Resources Mentioned In Today’s Episode

• Modern FImily With Court | ChooseFI Ep 166
• Your Flex Rate: The Crucial Factor Behind A Successful Early Retirement
• Find Your Local ChooseFI Group!
• Early Retirement Now
• Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep 12
• Subscribe to the FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: house hacking, benefits and compensation packages, earning extra income and side hustles, and not setting perfection as your goal.

We know achieving FI doesn't happen overnight, and rarely does it happen perfectly according to plan. Life happens, changes happen, and uncertainty usually finds a way to throw you off your planned path. This shouldn’t be something to fear! Today in the Households of FI series we are joined again by Zach to fill us in on how his FI journey has progressed over the last couple years, as well as to discuss the importance of re-adjustment! While failure is never an easy thing to accept, the fear of failing may deprive you of some excellent learning opportunities. By remaining intentional with your FI plan rather than striving for perfection, you will allow yourself to overcome uncomfortable lulls and expand your journey to places you might not have thought were possible! 

Timestamps:

• 1:51 - Introductions
• 4:45 - Zach and Marilyn Update
• 7:16 - House Hacking and Limiting Expenses
• 13:30 - Life is Lumpy, Perfection Isn't The Goal
• 21:39 - Examining The Whole Compensation Package
• 31:40 - Earning Extra Income
• 40:15 - Zach's 6 Year Path To FI
• 46:21 - If You Weren't Afraid, What Would You Do?
• 53:15 - Being Open to Exploring
• 56:53 - Conclusion

Resources Mentioned In Today’s Episode:

• Households of FI-Zach and Marilyn Talk Real Estate Investing With Paula Pant | ChooseFI Ep 247
• Discovering the Power of FU Money | ChooseFI Ep 321
• Side Hustle Nation
• "$1,000 100 Ways: How Real People Make Real Money on the Side (and how you can too)" by Nick Loper
• The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep. 13
• Early Retirement Now
• "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" by Tim Ferriss
• Subscribe To The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: finding purpose, misaligned values, being the product of your environment, the stock market as a source for wealth building, and modern two-player mode.

We encourage our listeners that there is no wrong age to start your FI journey, but for those of you starting your FI journey as a young adult, the firehouse of foreign information can feel overwhelming. Sometimes it may even seem as if you’re too far behind to even start! The good news is, you're not! Today we are joined by Katie Gatti from Money With Katie to talk about how she navigated FI in her early 20s, and how she used a lack of knowledge as a motivator to get to a place of financial independence. Everybody starts this journey at a different place in their life and no two people are the same. By being patient and finding value in learning something new, you are certain to find yourself more motivated on your FI journey!

Katie Gatti

• Website: moneywithkatie.com
• Podcast: The Money With Katie Show
• Twitter: @moneywithkatie
• Instagram: @moneywithkatie

Timestamps

• 1:36 - Introductions
• 2:09 - Katie's FI Journey
• 8:32 - Finding Meaning and Purpose
• 11:53 - Misaligned Value and Personal Finance
• 18:58 - Katie's College Decision and Education
• 25:03 - Forming Yourself as the Product of Your Environment
• 31:40 - It's Never Too Late For FI
• 39:03 - The Stock Market as a Means of Wealth Building
• 49:09 - Modern Two-Player Mode and Setting Financial Expectations
• 55:41 - Katie Takes The Hot Seat
• 67:07 - Conclusion

Resources Mentioned In Today’s Episode

• Young Money
• The Mad Fientist
• Meet the Frugalwoods | Achieving FI Through Simple Living | ChooseFI Ep 65
• Paul Merriman Introduces The Ultimate Buy And Hold Portfolio | ChooseFI Ep 130
• Paul Merriman | ChooseFI Ep 290
• M1 Pies: Level Up Your Dividend Strategy and Optimize Your Portfolio Like a Pro (2022)
• "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung
• The Huberman Lab Podcast
• The BiggerPockets Money Podcast
• Subscibe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: career changes, up-skilling, re-prioritizing, accruing debt for value, childcare, and emergency funds.

The journey to FI is never linear. Sometimes we can find ourselves thinking the only way to meet our goals is to follow a strict plan, which can make adjusting said plan feel like a daunting set back. Well, our returning Households of FI guests Troy and Lindsay believe that flexibility during ones journey to FI can provide you with tremendous value! Making changes in your life, whether it's accruing temporary debt or changing careers, can actually lead to big time payoffs! While it may feel more secure to have a set trajectory with your financial goals, we know life gets in the way! So instead of sticking with a plan that isn't making you happy, try to stay flexible and evaluate all your options! 

Timestamps:

• 1:34 - Introductions
• 4:55 - Troy and Lindsay Update
• 12:10 - Avoiding Over Optimization
• 18:49 - Up-Skilling & Career Changes
• 27:56 - Upgrading Income and Re-evaluating Priorities
• 36:15 - Accruing Debt for True Value
• 40:20 - Emergency Funds
• 42:58 - Going On Autopilot
• 46:00 - Expenses and Childcare
• 50:34 - Evaluating Your Work and Worth
• 53:14 Raising FI Children
• 58:54 - Conclusion

Resources Mentioned In Today’s Episode:

• Introducing Our Households of FI!! Part 1 | ChooseFI Ep 221
• Households of FI-Troy & Lindsay and Brad Calculate Their FI Number | ChooseFI Ep 241
• Mr Money Mustache
• The Mad Fientist
• The Great Man Within
• Level Up In Tech
• Udemy
• A Cloud Guru
• TalentStacker's Salesforce Career Development Program
• The BiggerPockets Money Podcast
• 1500 Days to Freedom
• Should I Refinance My Mortgage? | Ep 167R
• New Retirement
• Negotiate Your Salary With Tori Dunlap | Ep 147
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211
• "Raising Your Money-Savvy Family For Next Generation Financial Independence" By Carol Pittner and Doug Nordman
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: cybersecurity, password managers, two-factor authentication, safely navigating the internet, and more hot-seat questions!

Have you ever considered how secure your finances are in the modern world? Within the cyber-dominated world we are all living in, it can be tough to stay on top of updates, passwords, and other necessary resources that help us keep our digital footprints safe. Well in order to provide you all with some high-level tips and tricks to stay ahead of the curve, we decided to have long time listener and cybersecurity expert Tom on the show this week to discuss how you can secure your online life. Keeping yourself secure and your assets safe is one of the best ways to ensure a progressive future as you move forward in the digital era while on your FI journey!

You can find the link to Tom's Facebook thread here!

Timestamps:

• 1:44 - Introduction
• 2:52 - Passwords and Password Managers
• 13:22 - Two-Factor Authentication
• 22:03 - Email Links
• 28:38 - Cyber Financial Risks
• 34:57 - Surfing The Web Safely
• 39:14 - Antivirus Software
• 43:57 - Public Wifi, Back-ups, and High-Level Tips
• 55:18 - Look Out For Elderly Loved Ones
• 58:38 - Tom Takes On The Hot Seat
• 75:01 - Conclusion

Resources Mentioned In Today’s Episode:

• Join ChooseFI's Facebook Group!
• Yubico
• Lastpass
• 1Password
• KeePass
• Why You Need A Legacy Binder
• JL Collins
• Die With Zero: Getting All You Can from Your Money and Your Life By Bill Perkins
• RunnersFI Suggested Books
• Libby
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: evolution, knowing the rules, making purposeful decisions, automation, and the return of the hot seat!

In the advent of making money, oftentimes we can find ourselves torn between a state of over-saving through budgeting and cutting expenses, and over spending just because we have the means to. But is that what we really are looking for in our respective FI journeys? With thoughtful planning and proper action maybe we can happy medium between the two that doesn’t feel over invasive. Today we are joined by Bo Loy to discuss the concepts of finding adventures that don't break the bank, purposeful decision making, and the perks of automating your money. Also we heard your feedback! Back by popular demand this week, Bo Loy will be answering questions in our freshly renewed segment, The Hot Seat!

Timestamps

• 1:26 - Introduction
• 2:23 - Evolution and Perspective
• 9:12 - It All Adds Up
• 14:22 - Reviewing, Insurance, and HSA
• 24:11 - Knowing the Rules
• 32:00 - Tax Loss Harvesting
• 37:45 - Making Purposeful Decisions
• 44:02 - Finding Free Adventures
• 49:01 - Automation
• 66:17 - The Hot Seat Returns
• 79:10 - Conclusion

Resources Mentioned In Today’s Episode

• Early Retirement Extreme
• Mr Money Mustache
• HSA – The Ultimate Retirement Account in 2022
• Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18
• A Second Generation FI Case Study | Cody Berman FlytoFI | ChooseFI Ep 83
• All The Hacks
• The High Cost Of Living Path To FI | ChooseFI Ep 41
• JL Collins
• Brian Feroldi
• Check Out ChooseFI On Facebook
• Find Your Local Group!
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: student loans, the impact of knowing, navigating the pandemic, the power of planning, and the freedom of FI!

Tens of millions of people deal with student loan debt, and even with the recent news of loan forgiveness, there are still many who are left unequipped with the knowledge of the best ways to repay these debts without sacrificing from their lifestyle. Today we are rejoined by Samm, aka “The Debtist,” to get an update on how she has been navigating paying off her student loans, as well as how her financial mindset has changed over the last 4 years. Just because you take on debt does not mean you have to deprive yourself of the life you want until the debts are paid off! By changing your mindset to one of abundance of opportunity rather than scarcity of opportunity, the path to FI can open many doors for you! Paying down your loans, entering into new professions, and not letting your money control your ability to find happiness are all just examples of what is possible while getting yourself out from debt!

The Debtist:

• Website: The Debtist
• Instagram: @thedebtist

Timestamps:

• 1:25 - Introduction
• 1:50 - Sam's Student Loan Story
• 6:34 - Switching From IBR and The Impact of Knowing
• 10:48 - Navigating the Pandemic Pause
• 14:06 - The Freedom of FI
• 17:45 - The Aftermath of the Pandemic
• 24:56 - The Doors You Can Open By Shutting One
• 30:51 - The Power of Planning
• 38:18 - The End of the Pandemic Pause
• 46:35 - Conclusion

Resources Mentioned In Today's Conversation:

• HyperDebt | The Debtist | ChooseFI Episode 98
• The Student Loan Planner
• The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391
• Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393
• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9
• You Need A Budget (YNAB)
• Do You Need A Budget? | YNAB | ChooseFI Episode 165
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: resilience, making good choices, letting go of limiting beliefs, attracting the energy you put out, and winning at life!

What would you do if you were given a terminal cancer diagnosis? While it might not be the first thing that comes to mind, if you're able, the Boyd Dunleavey option is to develop a new positive outlook on life and the energy your omitting into the world, win your fight with cancer, and then proceed to run 11 marathons. Bad news comes to every single one of us, but how we process and handle that news is entirely up to us! Choose to handle it the right way, move forward with your life, and prioritize the things that matter to you. Despite what you may have been told, you have no idea where it could lead you ten years down the road!

Boyd Dunleavey:

• Check out these sites to see if your someones much needed match!
  • Be The Match
  • One Match
• Two fantastic groups in the cancer community that Boyd loves and trusts!
  • Gryt Health
  • Man Up To Cancer
• Connect With Boyd
  • Facebook: From Blood Cancer To The Boston Marathon
  • Instagram: @from_blood_cancer_to_boston

Timestamps:

• 1:22 - Introduction
• 2:49 - Choices Bearing Fruit/ Boyd's Backstory
• 11:42 - Taking The Better Path
• 20:04 - The News That Changed Everything
• 24:36 - Resilience and Pivoting
• 29:41 - You Could Be Someones Match
• 34:20 - Attracting The Energy You Put Out
• 39:16 - The Places Your Energy Can Take You
• 47:27 - The Boston Marathon
• 51:07 - It's a Choice to Make Good Choices/Ripple Effects
• 58:40 - Goal Setting, Financial Resilience, and Winning at Life!
• 68:34 - Let Go of Limiting Beliefs
• 71:00 - Conclusion

Resources Mentioned In Today’s Episode:

• "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert T Kiyosaki
• "Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom" by Robert T Kiyosake
• American Red Cross
• Todoist
• The Motley Fool
• Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Episode 31
• Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022)
• Atomic Habits | James Clear | ChooseFI Episode 157
• The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391
• Boyd Meeting His Donor Nathan!
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: Travel Rewards, Credit Cards, and The Value of Rewards Points.

We all know that it can be expensive to travel, and sometimes the joy and excitement of taking that long-awaited family vacation can be overshadowed by the cost of taking the trip. But what if there was a more efficient way to travel that doesn’t feel like you are breaking the bank? Well, with effective planning and the right tools this is entirely possible! This week we are once again joined by Lyn Mettler who will discuss to maximizing your spending in a way that does not deprive you, but rather rewards you!

Lyn Mettler:

Check Out Lyn's Free eBook How to Earn the Southwest Companion Pass!

Timestamps:

• 1:30 - Introduction
• 3:50 - Credit Cards
• 7:50 - The Value of Points
• 16:53 - Two-Player Mode and The 5-24 Rule
• 20:35 - Where to Start With Travel Rewards
• 25:03 - Limitations and Strategy
• 31:33 - Why This Works With FI
• 33:31 - The State of Travel Part 1
• 37:15 - Award Charts and Wiggle Room
• 41:28 - Points and Hotels
• 48:25 - The State of Travel Part 2
• 50:31 - The Booking Order
• 58:44 - Conclusion

Resources Mentioned In Today's Episode:

• The Chase Sapphire Preferred® Card Review
• ChooseFI's List of Travel Rewards Cards
• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9
• Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Ep 31
• Travel Rewards | Marla Taner | ChooseFI Ep 77
• Families Fly Free | ChooseFI Ep 353
• Turo
• Airbnb
• Vrbo
• Vacasa
• David's Vacation Club
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: Unlocking Freedom, The Optimized Path, Skilling Up, The Perpetual Money-Making Machine, and a New Era of ChooseFI.

It is truly the end of an era at ChooseFI. After six years, over 400 episodes, and all the laughs shared along the way, Jonathan is taking a step away from show to explore a new chapter in his life. On his way out, he and Brad hopped on the microphones as co-hosts one last time to discuss the lessons they have learned making this podcast, some key points of consideration for your FI journey, and the absolutely amazing community that has been built around this podcast. This audience truly embodies the word crowd in the word crowdsourced. Best of luck to Jonathan on all his new endeavors, and be sure to tune in next week as Brad carries the podcast into its new era!

Timestamps

• 0:57 - The End of an Era
• 5:00 - The Last 5 Years and The Evolution of FI
• 12:12 - Unlocking Freedom
• 15:57 - Math, Hope, and Time
• 19:47 - The Optimized Path
• 25:21 - The Perpetual Money Making Machine
• 34:16 - Skilling Up and Education
• 38:58 - The Value of Being Crowdsourced
• 46:36 - Reach Out To Us!
• 48:07 - Conclusion

Resources Mentioned In Today’s Episode

• Choose FI: Your Blueprint to Financial Independence
• Alan Donegan
• Coach Carson
• Scott Trench
• How Real Estate Investors Make it Work in High Interest Environments | Coach Carson | Ep 387
• Mr. Money Mustache
• Side Hustle Nation
• Join ChooseFI's Facebook Group
• Book your custom student loan plan with Student Loan Planner
• Your Money or Your Life by Joe Dominguez, Vicki Robin, and Mr Money Mustache
• Find Your Local ChooseFI Group!
• Leave Us a Voicemail
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: student loan forgiveness, public service loan for forgiveness, and getting closer to loan forgiveness.

How would you respond to finding out your looming student loan debts could be forgiven? Well for some of you that could be possible, but you need to act quickly! Travis Hornsby from The Student Loan Planner joins the show this week to discuss public service loans for forgiveness, and how a massive opportunity to tackle your student debt could be available to up to 25% of people with student loans, but only for a limited window of time! The deadline for applications for this waiver is currently October 31st, 2022 so listen along to see if this option can be applicable to you, and if so visit the link to book a consultation with The Student Loan Planner team ASAP!

The Student Loan Planner

• Book a personalized consultation with The Student Loan Planner team (including an automatic $100 discount for ChooseFI listeners!)

Timestamps

• 1:43 - Introduction
• 3:04 - The Public Service Loan for Forgiveness
• 4:51 - Public Service
• 6:05 - The Problem This Fixes
• 11:57 - Getting Closer to Forgiveness
• 16:21 - Why This is Urgent
• 21:13 - Deadline Information
• 22:54 - Slam Dunk Case Example
• 28:36 - Self Screening Test
• 30:20 - Conclusion

Resources Mentioned In Today’s Episode

• studentaid.gov
• Book Your Custom Student Loan Plan
• Student Loan Planner with Travis Hornsby | ChooseFI Ep 202
• Student Loan Debt Repayment | Travis Hornsby | ChooseFI Ep 78
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: marginal gains, prioritizing your present, purposeful living, impacting others, and goal setting.

Whether you like it or not we all will eventually die someday, and when that time comes the last thing we want to do is to look back on our lives with regret. Oftentimes in life we let expectations, outside obligations, and future ambition rule over us in the present, without fully realizing we could be living our dream life in the present! Nobody understands this more than former hospice doctor Jordan Grumet (aka Doc G) who comes back to the show to discuss the importance of finding meaning in the way we approach our goals, and how becoming more intentional and present could lead to a more fulfilling and purposeful life!

Jordan "Doc G" Grumet

• Website: jordangrumet.com
• Book: Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life
• Podcast: Earn & Invest
• Blog: DiverseFI

Timestamps

• 1:27 - Introductions
• 2:30 - Sam's Story
• 6:29 - It's Not Bout The Goals, It's about The Processes
• 14:23 - Marginal Gains
• 17:33 - Prioritizing Yourself
• 23:24 - Your The Star of Your Own Story
• 27:20 - Making Ripples and Impacting Others
• 35:24 - What Would You Do if Money Wasn't an Issue?
• 41:36 - Money is a Tool and Measuring Friction
• 50:15 - Conclusion

Resources Mentioned In Today’s Episode

• Real Estate & Financial Independence Podcast with Coach Carson
• Ordinary Sherpa
• "Die With Zero" by Bill Perkins
• JL Collins
• "The Tail End" by Tim Urban
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: interpreting financial statements, utilizing financial statements, balance sheet statements, income statements, cash flow statements, and valuing a business for its purpose.

Have you even wanted to learn the language of business? Not in a literal sense, by that we mean understanding the ways businesses communicate what their real value is to the general public and potential investors? Well if you have had this incredibly niche thought, you're definitely a member of the FI community, and you're also in luck! Brian Feroldi is back on the show to discuss financial statements and the information certain financial statements indicate, as well as act as your translator for the language of business! Understanding this language can be a massive help in your own decision making going forward!

Brian Feroldi

• Twitter: @BrianFeroldi
• YouTube: Brian Feroldi
• Website: brianferoldi.com

Timestamps

• 1:26 - Introduction
• 2:44 - Financial Statements
• 5:35- Read and Interpret
• 8:58 - The Three Main Financial Statements
• 13:33 - Balance Sheet Statements
• 22:09 - Utilizing Financial Statements
• 24:06 - Income Statements
• 30:04 - Claim on Earnings
• 33:58 - Cash Flow Statements
• 44:13 - Valuing a Business for it's Purposes
• 47:22 - Not All Businesses are Equal
• 50:16 - Conclusion

Resources Mentioned In Today’s Episode

• Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage by Mary Buffett and David Clark
• https://www.fool.com/author/14471/
• Stock Fundamentals With Brian Feroldi | ChooseFI Ep 200
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: college hacking, career hacking, the power of starting early, trade jobs, and salesforce careers.

How many times in the past have you been listening to this podcast and thought, "I wish I knew about this when I was younger." Well today's guest Zach actually had the foresight to start using the lessons he learned from this podcast at the ripe age of 18, and the results may be envy inducing! It's worth noting that not starting your FI journey at the age of 18 doesn't discredit you from a happy and financially independent life. But it's also worth noting that the sooner you start, the sooner you'll be able to reap the rewards, so start today!

Timestamps

• 1:08 - Introduction and Zach's E-Mail
• 3:03 - What were you looking for when you found the FI community?
• 5:43 - Dual Enrollment
• 15:06 - Evaluating Your Education Options and Expenses
• 22:29 - Military Service and College Education
• 26:39 - First Job Out of College and Trade Jobs
• 35:05 - 20 Years Old, $65,000 Yearly Salary, No Debt, What Next?
• 37:04 - The Power of Starting Early
• 42:26 - Zach's Career Change
• 53:31 - Conclusion

Resources Mentioned In Today’s Episode

• Subscribe to The FI Weekly!
• Virginia's Community Colleges
• Miss Excel
• From Pandemic Layoff to $100k+ | A Salesforce Success Story |EP 297
• Free Salesforce 5-Day Challenge
• Salesforce: A Lucrative Career and No Degree or Tech Background Needed

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: real estate investing, the fundamentals of real estate investing, real estate investing variables, interest rates, and private money financing.

With today's real estate market is it even possible to get some skin in the game as an investor? While thing's aren't exactly optimal for buyers right now, if you are creative and informed with your decision making, it is absolutely possible to get in the game! Listen along as Coach Carson joins the show to discuss how this is still possible and ways the small and mighty investors continue to succeed in the real estate market!

Chad Carson

• Website: coachcarson.com
• YouTube: Coach Carson TV
• Podcast: Real Estate and Financial Independence Podcast

Timestamps

• 1:13 - Introduction
• 2:09 - Elephants In The Room
• 5:41 - What Is The Market Doing?
• 9:13 - Interest Rates
• 17:32 - Do You Even Go To A Traditional Bank Anymore?
• 24:28 - Unknown Variables
• 28:50 - Private Money Financing
• 38:15 - It Always Comes Down To Earnings
• 44:23 - Surviving 2008
• 51:08 - The Cost For Private Investors
• 59:38 - Conclusion

Resources Mentioned In Today’s Episode

• Redfin
• Zillow
• Paula Pant, Afford Anything
• Find your Local ChooseFI Group!
• BiggerPockets Forums
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: College Hacking, College Credits for less, ACE Courses, CLEP Exams, and The Most Cost Efficient Bachelors Degree

A college education may be the most daunting expense members of the FI community have on their horizon. As we all know by now, the cost of modern higher education has skyrocketed and has shown virtually no signs of decreasing or even leveling off! However Gerry Born, also know as the Millionaire Educator, may have found a way to reduce the overall cost of said education while still retaining the aspect of freedom we in FI community hold so dearly. Listen along to see if this alternative path to a college degree could be applicable towards you or your loved one's futures!

Millionaire Educator

• Website: millionaireeducator.com
• Twitter: @GerryBorn

Timestamps

• 1:11 - Introduction
• 2:44 - The "College Experience"
• 6:55 - CLEP Tests
• 11:17 - Spending Credits
• 21:15 - The Cost Effective Option
• 25:35 - ACE Courses
• 28:48 - The Credit Stacking Experience
• 37:12 - Pairing This Methodology with the Classic College Experience
• 41:04 - The Most Optimized Bachelors Degree
• 47:32 - Using College to Learn Your Craft
• 52:53 - Conclusion

Resources Mentioned In Today’s Episode

• How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238
• Sophia Learning
• Modern States
• Credly
• Study.com
• Sophia Learning's Partners
• A $7,500 College Degree in 12 Months?
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: Time as a Luxury, The Power of F-U Money, The Cost of DIY, Planning, and Decision Making.

Even though time is our most precious non-renewable resource, the society we live in tends to take that fact for granted. Is working more to earn more really the most efficient use of your time? Possibly, but effective planning and delegation of your resources can help you find a much better balance between the things you have to do to support your lifestyle, and the things you want to do throughout your life! Once time is spent you can't get it back, so plan accordingly so you can make the most of it!

Timestamps

• 0:56 - Introduction and Are Your Winning Life?
• 4:18 - Tax Abatement Feedback
• 11:30 - Credit Cards Purchases
• 19:34 - Crypto Exchanges
• 23:55 - Time is the Ultimate Resource
• 30:16 - Finding a Sweet Spot Between Frugality and Freedom
• 38:12 - The Power of Evaluating Your Options
• 46:55 - Planning Unlocks Freedom
• 53:29 - Conclusion

Resources Mentioned In Today’s Episode

• Functionality with Numbers | Ep 384
• Subscribe to The FI Weekly!
• Join ChooseFI's Facebook Group!
• Playing With FIRE
• Discovering the Power of FU Money | ChooseFI Ep 321

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

In this episode: functionality with numbers, the rule of 74, decision making, free roles, and tilting the odds in your favor!

Setting yourself up for success is one of the FI community's main ideals, but what is the best way to go about doing that? Well, to put it simply, math. While the mention of math may be enough to put some people off entirely, what if we told you basic math could be enough to prime yourself up for success? Simple addition, subtraction, multiplication, and division when applied right can have a huge impact on your personal finances! Listen along and see if there are any ways you could apply basic math into your own decision making going forward!

Timestamps

• 1:00 - Introduction and Functional Numbers
• 2:47 - Rule of 72
• 7:44 - Math is Rad!
• 11:27 - Math and Opportunity Costs
• 18:38 - Decision Making
• 26:03 - Free Roles
• 33:54 - Credit Card Costs
• 39:52 - Hunting for Win-Wins
• 44:39 - Conclusion

Resources Mentioned In Today’s Episode

• The Tim Ferris Show Episode #604
• Edward O. Thorpe
• How To Decide With Annie Duke | ChooseFI Ep 262
• "Thinking in Bets" by Annie Duke
• Risk Parity Radio
• The Simple Path to Wealth
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new side hustle with one of our educational courses
• Slash your cell phone bill without sacrificing service with Mint Mobile

Topics in this episode: lifestyle design, coast fi, slow fi, identity, career, and creating the life you want.

Sometimes it can be hard to separate what you do for a living from who you are as a person. Also, financial situations and limited resources can make you feel stuck living a life that doesn't align with your interests and values. But fear not for this is a cycle that can be broken! Listen along as Lauren from "The Fioneers" joins the show and walks through steps you can take to potentially unlock some more freedom in your life!

Jessica From The Fioneers

• Website: The Fioneers
• Coaching: Design A Life You Love
• Twitter: @TheFioneers
• Instagram: Thefioneers
• Facebook: Slow FI Enthusiasts

Timestamps

• 1:04 - Introductions
• 1:56 - Jessica Update
• 5:23 - What Do You Want To Be When You Grow Up?
• 12:03 - Identity and Career
• 18:35 - Slow FI and Coast FI
• 27:12 - It's Not Set In Stone
• 32:44 - Fear and Creating The Life You Want
• 41:38 - From Passion to Career
• 45:05 - Conclusion

Resources Mentioned In Today’s Conversation

• Managing Stress by Leveraging FI | The Fioneers | Ep 229
• A Deep Dive into Lifestyle Design
• Coast FI vs. Slow FI: What's the Difference?
• You are Not Your Work: How to Reclaim Your Identity
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In the week's episode, Brad and Jonathan examine the current state of the housing market and discuss different ways in which risk can be controlled.

It seems like we are currently living in some of the most interesting financial times ever to have occurred. Crypto currencies are seemingly disappearing overnight, interest rates are shooting up, and the inflation rate continues to climb! While all of these examples can cause one to be fearful, preparation and attention to detail are two traits that allow those in the FI community to stay calm! Identify your fears, control situations where you are taking on risk, and continue crushing your journey down the path to FI!

Timestamps

• 0:58 - Introduction
• 2:01 - The Tail End
• 5:58 - The Most Interesting Financial Times
• 13:26 - Housing
• 18:22 - Conversation With A Friend
• 26:06 - Components of The Monthly Payment
• 34:40 - 40 Year Mortgage and Renting
• 45:20 - 10% Intrest Rates
• 53:05 - Crypto Sidecar
• 57:15 - Crypto Security
• 61:39 - Conclusion

Resources Mentioned In Today’s Conversation

• The Tail End
• Subscribe to The FI Weekly!
• Common Sense Spending Guidelines | Housing | Ep 381
• Blockchain, Smart Contracts, and NFT’s | EP 361
• Blockchain, Smart Contracts, and NFT’s Part 2 | EP 362
• Pump and Dump | EP 323

If You Want To Support ChooseFI:

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• Keep learning or start a new sidehustle with one of our educational courses
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In this week's episode, Brad and Jonathan discuss different guidelines that can help ensure your mortgage won't infringe on your FI goals!

Becoming an home-owner doesn't have to mean the collapse of your own financial stability! By planning ahead and working within your personal limitations, your journey to a happy, healthy, and simple life can continue unabated! Listen along to see if the common sense guidelines mentioned can be beneficial to your situation!

Timestamps

• 1:02 - Introductions
• 3:01 - Insufficient Funds
• 11:55 - Tackling Overdraws
• 19:21 - What Can You Really Afford?
• 26:36 - The Bracket Breakdown
• 31:13 - FI-ifying Your Budget
• 35:13 - The Payment Breakdown
• 45:53 - Working The Table
• 53:46 - Mortgage Factors
• 57:30 - Make The Best Decision For YOU
• 68:43 - Conclusion

Resources Mentioned In Today’s Conversation

• Can I Get An Extension, Please? | ChooseFI Ep 372
• TurboTax
• Subscribe to The FI Weekly!
• SmartAsset
• The Happy Philosopher
• Chad Carson
• Paula Pant

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
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• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

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In this week's episode, Brad and Jonathan discuss different routes you can take in order to create options for yourself with limited resources.

Everyone has a finite amount of financial resources at their disposal and everyone is always questioning what they should be doing with what they have. While nothing is guaranteed, thankfully there are steps you can take to protect your resources and make informed decisions. Listen along as the guys discuss creating options for yourself and hopefully the information can be helpful towards dealing with uncertainty!

Timestamps

• 0:56 - Introduction
• 1:59 - The Rule of 72
• 8:51 - Bitcoin Purchase and Computer Safety
• 16:57 - Crypto Crashes
• 21:42 - Intrinsic Value
• 28:04 - Guaranteed Returns
• 34:40 - Protecting Yourself
• 45:27 - Finding Options in Uncertainty
• 52:54 - Conclusion

Resources Mentioned In Today’s Conversation

• Dropbox
• Blockchain, Smart Contracts, and NFT’s | EP 361
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan welcome back Bradley Rice and Anita from Talent Stacker to discuss the hidden job market and how you can break into it!

Many consider the best path to a successful career getting an education, claiming a certification or degree, and working your way up the corporate ladder. But what if there could be an alternative? Utilizing your current skills, developing some new skills, and successfully networking could be your key to unlocking the hidden job market and leveling up your career! Listen along to learn how Bradley and Anita took this path less traveled and see if it can be applicable to your life and career!

Bradley Rice and Anita

• Website: Talent Stacker
• Podcast: The Salesforce for Everyone Podcast

Timestamps

• 1:29 - Introduction
• 4:06 - Unorthodox Choices, Radical Results
• 13:52 - No Degree Needed and Developing Skills
• 23:35 - Overcoming Traditional Objections
• 29:04 - Finding Communities
• 32:03 - Personal Branding
• 37:22 - The Hidden Job Market
• 43:30 - Volunteer Experience and Interviews
• 55:10 - Compounding The Positives
• 59:10 - The Salesforce For Everyone Podcast
• 66:15 - Conclusion

Resources Mentioned In Today’s Conversation

• From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297
• Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117
• Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147
• Check Out The FI Weekly!
• The Role Of Bonds In A Portfolio | ChooseFI Ep 194
• Are You as Diversified as You Think You Are? With Frank Vasquez | ChooseFI EP 313
• Talent Stacker

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• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan dissect the idea of earning power being used as a weapon to combat inflation, and strategies you can implement to level up your income!

One of the best ways to reduce the impact inflation has on your life is to out-earn the inflation rate. While that solution can easily fall under the umbrella phrase of, "easier said than done," there are actions you can take to make that process easier for yourself! Listen along as the guys discuss different strategies to approach raising your income and see if any of them can apply to you and your FI journey!

Timestamps

• 0:55 - Introductions and Season's Change
• 5:37 - Times is a Resource
• 9:10 - Start With Spending
• 14:07 - College Cynicism
• 21:53 - The Career Freedom of FI
• 25:04 - Income Combatting Inflation
• 28:10 - Performance Reviews and Standing Out
• 36:15 - The Art of Salary Negotiation
• 43:00 - Influence
• 45:03 - The Script
• 51:31 - How Can I Improve This?
• 53:42 - Opportunity and Conclusion

Resources Mentioned In Today’s Conversation

• Glide Path to Retirement During Uncertainty | ChooseFI Ep 377
• Subscribe to The FI Weekly!
• Early Retirement Extreme
• Career Hacking With ESI Money | ChooseFI Ep 23
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211
• Glassdoor
• Influence: The Psychology of Persuasion by Robert B. Cialdini
• Salesforce: A Lucrative Career and No Degree or Tech Background Needed

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Timestamps

• 1:02 - Disney and Travel Rewards
• 9:52 - Age of Uncertainty
• 17:41 - Controlling What You Can
• 20:35 - Returns and Inflation
• 26:09 - The Glide Path
• 27:49 - Series I Bonds
• 39:18 - Controlling Income and Expenses
• 48:10 - When The Market Turns...
• 52:47 - Conclusion

Resources Mentioned In Today’s Conversation

• Step-By-Step Guide To A Free Disney World Vacation
• Early Retirement Now
• The Retirement Manifesto
• Your Money Or Your Life By Vicki Robin, Joe Dominguez, and Mr Money Mustache
• Drawdown Strategy | The Retirement Manifesto | ChooseFI Ep 43
• What Does Inflation Mean For Investors With Big ERN | ChooseFI Ep 331
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan welcome Sean Mullaney back onto the podcast to discuss the four backstops of the Four Percent Rule! While many in the FI community consider the Four Percent Rule to be a pillar for retirement planning, these relatively unknown backstops could save or enhance your retirement as you continue along the path less traveled! Listen along to see if any of these backstops could apply to you and your own future planning!

As always, the discussion is general and educational in nature and does not constitute tax, investment, legal, or financial advice with respect to any particular individual or taxpayer. Please consult your own advisors regarding your own unique situation. Sean Mullaney and ChooseFI Publishing are currently under contract to publish a book authored by Sean Mullaney.

Sean Mullaney

• Website: The FI Tax Guy
• Blog: The FI Tax Guy Blog

Timestamps

• 0:59 - Introductions
• 1:37 - The Four Percent Rule and Inflation
• 12:20 - Annual Expenses
• 14:19 - Decline in Energy and Expenses
• 22:14 - Social Security
• 30:53 - Downsizing and The Reverse Mortgage
• 38:53 - Later Years Backstops
• 43:21 - Mortality
• 48:48 - Conclusion

Resources Mentioned In Today’s Conversation

• The Four Backstops to then Four Percent Rule
• Financial Resilience in a Bear Market | ChooseFI Episode 172
• Early Retirement and Social Security
• Early Retirement Now
• Financial 180

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan continue along their, "Financial Independence A to Z," journey by examining savings rate and the many different ways it can be calculated! One of the pillars that sets the FI community apart is the emphasis on saving money in order to unlock more in your life. So, by having the right tools needed to calculate your savings rate, you can begin to make adjustments and hopefully start the process of taking back your time!

Timestamps

• 0:59 - Introductions
• 4:30 - Ben's Question
• 7:41 - How Do You Calculate Your Savings Rate?
• 12:00 - Why Savings Rate Is Important
• 18:25 - Nuances In Saving
• 21:55 - Calculation Example
• 28:15 - Scenario Three
• 37:57 - Looking At The Nuances
• 46:56 - Conclusion

Resources Mentioned In Today’s Conversation

• Find The Article Mentioned By Brad and Jonathan Here!
• KiwiCo
• The Tim Ferris Show
• Check Out ChooseFI's Financial Independence A to Z series!
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan discuss a variety of tools that can help you stay on-top of your budget. Whether you create your own tracking systems or don't have any expense tracking systems in place yet, there likely is a tool mentioned in this episode that can help you get one step closer to your financial goals! Remember, keeping your expenses organized can help you take drastic steps forward in your FI journey!

Timestamps

• 0:56 - Introductions
• 3:57 - Identity Statements and Failure
• 9:55 - The Post Tax Season Check-Up
• 13:33 - The Large Tax Return
• 17:34 - Simplifying Your Financial Life
• 22:34 - Loading Your Financial Tool-belt
• 26:25 - Tracking The Cost Of Your Life
• 34:53 - Tracking Softwares
• 42:17 - Envelope Systems
• 46:44 - Should You Use A Budgeting Template
• 51:56 - Conclusion

Resources Mentioned In Today’s Conversation

• The Stacking Benjamins Podcast
• Wellbeing Monthly Budget Tool
• Vertex42
• Afford Anything With Paula Pant
• Tiller Money
• YNAB
• Do You Need A Budget? | ChooseFI Episode 165
• Intuit Mint
• Dave Ramsey's Envelope System
• EveryDollar
• It's Your Money Excel Deluxe Envelope Check Registrar
• Personal Capital
• Subscribe To The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Timestamps

• 0:56 - Introductions
• 1:52 - Fulfilling Remedy Responsibilities
• 6:22 - WeWork and Startup Economics
• 12:47 - Increasing The Gap
• 17:11 - Picking a Career
• 20:20 - Financial Literacy A to Z
• 24:33 - Budgeting and Optimizing Expenses
• 32:42 - Automating Your Finances
• 36:06 - The Longterm Mindset
• 44:40 - Borrow and Protect
• 52:17 - Conclusion

Resources Mentioned In Today’s Conversation

• WeCrash
• ChooseFI's PreK-12 Curriculum
• The Rebel Entrepreneur With Alan Donegan
• Start Your FI Journey With ChooseFI!
• Subscribe to the FI Weekly!
• Financial Independence A to Z
• Joe Saul-Sehy
• The Mad Fientist

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

It's officially tax season! In this week's episode, Brad and Jonathan discuss tax extensions and share some of their experiences paying taxes in the past. No matter what walk of life you are in, at the end of the day we all have to pay taxes. As members of the FI community, we should do our best to stay calm and tackle the task!

Timestamps

• 1:10 - Introductions
• 1:55 - Daylight Savings
• 5:18 - Viral Nightmare Tax Scenario
• 11:36 - Putting Aside Taxes
• 20:39 - Extensions
• 26:32 - The Not Genius Move
• 31:17 - Larger Than Expected Tax Bills
• 34:30 - Small Business and Side Hustles
• 37:53 - Conclusion

Resources Mentioned In Today’s Conversation

• Huberman Lab Podcast
• The Peter Attia Drive Podcast
• Fifth Wheel Physical Therapist
• NFTs For Newbies Podcast: "Taxes and NFTs Part 1 With Brad Barrett"
• NFTs For Newbies Podcast: "Taxes and NFT Part 2 With Brad Barrett"
• Subscribe To The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan are joined by author and friend of the show Brian Feroldi. After spending two years writing the book, Why Does The Stock Market Go Up? Brian is returning to the show once again to share with you the valuable lessons he has along the way! Join the trio as they discuss why the stock market goes up, down, and everything in-between!

Brian Feroldi

• Twitter: @BrianFeroldi
• Book: Why Does The Stock Market Go Up By Brian Feroldi

Timestamps

• 1:33 - Introductions
• 2:40 - Understanding The Market
• 7:07 - History Of The Dow Jones
• 13:19 - The NASDAQ
• 16:35 - Valuation
• 23:22 - The Future Is Inevitable
• 24:45 - Stock Splits
• 33:14 - What Are You Buying?
• 44:10 - Conclusion

Resources Mentioned In Today’s Conversation

• The Motley Fool
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan sit down with Joe Saul-Sehy, co-author of the book "Stacked" and co-host of the "Stacking Benjamins" podcast. Together, the trio discuss how to properly set goals for yourself and ways you can continue to move that needle along! If you stick to your timeline and ask the right questions, before you know it you could be on the right track!

Joe Saul-Sely

• Website: joesaulsehly.com
• Book: "Stacked: Your Super-Serious Guide to Modern Money Management" by Joe Saul-Sehly and Emily Guy Birken
• Podcast: The Stacking Benjamins Podcast

Timestamps

• 0:51 - Introductions
• 5:20 - Goal Setting And The Timeline
• 10:41 - Bad Questions And False Rabbit Holes
• 15:25 - Talking Family Finance
• 20:24 - Budgeting And Tracking
• 28:25 - Comparison Is The Thief Of Joy
• 32:21 - Financial Advisors
• 45:30 - Assets Under Management
• 51:51 - About "Stacked" And Where You Can Find It!
• 54:02 - Conclusion

Resources Mentioned In Today’s Conversation

• Information About The "Stacked" Book Tour
• Rob Phelan and The Simple Startup
• Franklin's Fortune
• Paula Pant and Afford Anything
• JL Collins and The Simple Path To Wealth
• Find Your Local ChooseFI Group!
• Subscribe to The FI Weekly

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Timestamps

• 1:00 - Introductions
• 1:53 - Goals & The Aggregation of Marginal Gains
• 6:58 - Manifestation
• 14:55 - Clarity & What YOU Want
• 24:27 - Becoming The Unstoppable Force
• 30:10 - Controlling Monthly Expenses
• 35:12 - Car Payments
• 37:46 - Accounting For Your Mindset
• 42:43 - Conclusion

Resources Mentioned In Today’s Conversation

• "Goals!: How to Get Everything You Want -- Faster Than You Ever Thought Possible" by Brian Tracy
• Bigger Pockets
• "A Complaint Free World: How to Stop Complaining and Start Enjoying the Life You Always Wanted" by Will Bowen
• Subscribe to the FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Timestamps

• 1:00 - Spring is Coming!
• 3:36 - Long-Term Thinking
• 7: 19 - Decluttering
• 15:15 - Tackling Social Prisons
• 23:10 - The Oasis
• 29:22 - Junk Mail and Saying No
• 37:30 - The Red X
• 40:50 - Conclusion

Resources Mentioned In Today’s Conversation

• The Happy Philosopher | The Happiest Man In The Room | ChooseFI Episode 48
• Get Off The Hamster Wheel with Jonathan Backstory | ChooseFI Episode 4
• 7 Decluttering Tips to Organize Your Life in 2022
• The Tim Ferris Show
• DMA Choice
• Opt Out Prescreen
• Valpack Opt Out
• Your Ad Choices
• Subscribe to The FI Weekly!
• Derek Sivers

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan unpack the problems that lie within modern retirement calculations and provide examples of how you can work around these flaws. As opposed to focusing on income, maybe it is better to learn how much our lives cost us. Expenses appear and disappear as life goes on, it is important to factor that in to your FI number!

Timestamps

• 1:01 - Introductions
• 2:00 - Listener Feedback, Permaculture, and Libraries
• 6:55 - Annual Expenses
• 14:08 - The Retirement Smile
• 16:53 - Addressing That FI Number
• 22:21 - The Pile of Cash
• 30:45 - Upcoming Events!
• 32:07 - Major Purchases For Those Entering The Workforce
• 41:40- Conclusion

Resources Mentioned In Today’s Conversation

• Subscribe to the FI Weekly!
• The Art of Frugal Hedonism
• Root of Good
• JL Collins
• Early Retirement Now
• Flexible Spending Rules For Early Retirees | ChooseFI Episode 176
• Camp FI
• Find Your Local ChooseFI Group Today!
• Join ChooseFI's Facebook Group!
• Risk Parity Radio

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan discuss the importance behind moment you decide it is time to make a change in your life. While making the decision to alter your life for the better is often easy, actually consistently carrying out that goal can be tough to do. We all hit road blocks, we all stray from our goals, but being able to correct your path is vital to actually changing for the better! Keep track of your progress and set yourself up to success!

Timestamps

• 0:00 - Introductions
• 1:09 - Favorite Two Days of the Year/Berkshire Hathaway
• 6:18 - Bumming On The Couch Story
• 12:36 - What Are You Pivoting Towards?
• 16:07 - Making The FI Choice
• 19:43 - Journaling Thoughts
• 24:54 - What Compels Change?
• 29:50 - Accountability
• 33:10 - Subconscious Guard Rails
• 38:10 - 1% Changes Add Up
• 40:45 - The Goal of Paying Off Credit Card Debt
• 43:10 - Conclusion

Resources Mentioned In Today’s Conversation

• Berkshire Hathaway Letter to Shareholders
• "The Happy Body" by Aniela and Jerzy Gregorek
• Making Bold Moves with Dominick Quartuccio | ChooseFI Episode 355
• The Why Of FI | ChooseFi Episode 038
• How to Get Out of Debt | ChooseFI Episode 115R
• Debt 101: The Ultimate Guide to Debt

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan question the notion of needing to escape from your life. While we all get tired of the mundane nuances that life throws at us, we often escape these constrictions by frivolously spending money during the hours in which we own our time. Taking a break isn't the worst thing on earth obviously, but reclaiming our time and spending it with who or what we love can help erase the feeling of needing to escape from the world! Take a look outside, it doesn't look too bad right?

Timestamps

• 1:26- 8:28 | Introductions and Super Bowl Commercial Discussion
• 8:28- 10:13 | Facebook Discussion
• 10:13- 11:47 | What If You Didn't Need To Escape?
• 11:47-14:26 | The Look Outside Test
• 14:26- 23:20 | How We Escape
• 23:20-32:05 | Compounding Healthy Hobbies
• 32:05-41:55 | A Life Without The Need For Escaping
• 41:55-43:43 | Conclusion

Resources Mentioned In Today’s Conversation

• "Factfulness: Ten Reasons We're Wrong About the World--and Why Things Are Better Than You Think" by Hans Rosling, Anna Rosling Ronnlund, and Ola Rosling
• "Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence" by Vicki Robin, Joe Dominguez, and Mr. Money Mustache
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan fixate on many different areas in life where improvements can be made and ways you could go about doing it! Whether it's your own cybersecurity, managing anxiety, or physical health, it is important for us to take care of ourselves in order to fully enjoy the life we are setting out to live. There are easy ways to make changes that could snowball into a brighter future for you!

Resources Mentioned In Today’s Conversation

• Hoopla
• Chris Hutchins - All The Hacks
• Library Extension for Chrome
• Making Bold Moves with Dominick Quartuccio | EP 355
• How to Train for the “Centenarian Olympics”
• Jerzy Gregorek Interview | The Tim Ferriss Show
• "The Happy Body" by Jerzy and Aniela Gregorek
• "Die With Zero" by Bill Perkins
• Download Brian Feroldi's Anti Fragile Checklist Here!
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

https://www.sheeksfreaks.com

Resources Mentioned In Today’s Conversation

• Listen To Part One of Blockchain, Smart Contracts, and NFT's Here!
• OpenSea
• LooksRare
• Follow Brad on Twitter!
• Check Out Bao Bao Money Tree!
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Resources Mentioned In Today’s Conversation

• Follow @BrianFeroldi on Twitter!
• Etherscan
• The Time Ferris Show | Episode 542
• Check Out ChooseFI's Facebook Group!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this week's episode, Brad and Jonathan discuss different ways in which you can position yourself to experience as many positive outcomes in your life as possible. Whether it's building credit, saving, investing, education, understanding the true meaning behind the word "compounding," or really any other aspect of your life, by knowing the rules and planning accordingly you can experience success in a manner that feels automatic at times. Carefully consider the ROI that comes with the decisions you make!

Resources Mentioned In Today’s Conversation

• Huberman Lab Podcast
• Check Out ChooseFI's Travel Episodes!
• Pre-Order Why Does The Stock Market Go Up? by Brian Feroldi
• The True Cost Of Car Ownership | ChooseFI Episode 022

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Now that you've done your beginning of the year audit, it's time to look at your finances through the lens of a SWOT analysis! In this week's episode, Brad and Jonathan examine the strengths, weaknesses, opportunities, and threats that may arise as you continue along your FI journey. By getting a strong grasp on the current state of your finances, hopefully you can begin to work towards turning your weaknesses into strengths, and your threats into opportunities!

Resources Mentioned In Today’s Conversation

• Join ChooseFI's Facebook Group!
• Sean Mullaney - The FI Tax Guy
• Early Retirement Now
• Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Joe Dominguez, Vicki Robin, and Mr Money Mustache
• Negotiate Your Salary With Tori Dunlap | ChooseFI Episode 147
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Episode 211
• From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Episode 297
• Sign Up for the FREE Salesforce 5-Day Challenge!
• 10 Ways to Increase Your Income With Alan Donegan | ChooseFI Episode 338

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Welcome to 2022! In this week’s episode, Jonathan and Brad discuss starting your year by doing an audit of your current financial situation to highlight areas in which you can improve! It is critical to know how much you’re taking home in income and what your expenses over the coming year will look like. That way you can start molding your journey to FI over the course of 2022!

Resources Mentioned In Today’s Conversation

• Subscribe to The FI Weekly!
• Check Out The FI Pathfinder!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In our final episode of 2021, Brad and Jonathan pick up where they left off last week as they continue to listen to your end of year wins! It is truly amazing to hear about all the accomplishments our listeners met in 2021, and we hope you continue to ride that momentum into 2022! Thank you for an amazing year, and we hope the future is full of many more wins within our amazing community!

Resources Mentioned In Today’s Conversation

• The Stages and Checkpoints of FI | ChooseFI Episode 324
• Jillian Johnsrud
• Welcome To The FI Community | ChooseFI Episode 100
• Playing With FIRE
• First-Time Home Buyer | BiggerPockets | ChooseFI Episode 312
• Negotiate Your Salary With Tori Dunlap | ChooseFI Episode 147
• How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211
• Sean Mullaney, The FI Tax Guy
• Families Fly Free | ChooseFI Episode 353
• Follow Brad on Twitter!
• Follow Land Shark on Twitter!
• Setting up a Special Needs Trust | ChooseFI Episode 108
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Happy Holidays! However, the holidays are not the only reason we are festive around this time of the year. Join Brad and Jonathan as they celebrate your end of the year wins! This episode is dedicated to all the amazing steps our community members have made throughout 2021, and we hope you continue to make strides on your FI journey as we move into 2022! Congratulations to everybody who has made progress this year and stick around for part two coming out next Monday!

Resources Mentioned In Today’s Conversation

• Money Letters To My Daughter with Jackie Cummings Koski | ChooseFI Episode 161
• Subscribe to The FI Weekly!
• Join ChooseFI's Facebook group!
• Control Your Tax Rate |013R| ChooseFI Episode 013
• Eat Healthy and Save Money with the Laura Barrett Cookbook
• Salesforce: A Lucrative Career and No Degree or Tech Background Needed
• Physician On FIRE | FI For Medical Professionals | Financial Freedom Vs Financial Independence
• Join Your Local ChooseFI Group
• Crush Your Travel Costs With ChooseFI!
• Mr. Money Mustache
• The Mad Fientist

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by Dominick Quartuccio from "The Great Man Within" to discuss making bold moves while on the path to bettering yourself. Although it may be inconvenient, making one bold move can snowball into a life full of adventure, self-development, and unexpected happiness! Join the trio as they discuss what can dictate a bold move, signs that you may be ready to level up an area of your life, generating ideas for bold moves, and so much more!

Dominick Quartuccio

• Website: The Great Man Within
• Podcast: The Great Man Within

Resources Mentioned In Today’s Conversation

• Design Your Future: 3 Simple Steps to Stop Drifting and Start Living by Dominick Quartuccio
• Design The Next Year of Your Life Masterclass
• Send us an email! feedback@choosefi.com
• Design Your Future | Dominick Quartuccio | ChooseFI Episode 033
• Drift | Dominick Quartuccio | ChooseFI Episode 096
• Designing Your Year For 2021 | Dominick Quartuccio | ChooseFI Episode 270

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week’s episode, Brad and Jonathan discuss planning your short and longterm FI goals in a manner that is realistic to your current situation. By taking an approach that favors longterm success as opposed to rapid growth, you can position yourself in a manner that will allow for luck to strike as you continue your FI journey! Be sure to plan for the probable and possible outcomes in your life!

Resources Mentioned In Today’s Conversation

• Last Pass
• 1Password
• Runaway Winners and the Balanced Portfolio with Brian Feroldi | ChooseFI Episode 350
• Talent Stacker
• JL Collins' Simple Path to Wealth
• Financial Independence 101

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by Lyn Mettler from "Families Fly Free" to discuss optimizing your travel rewards when traveling with family! Join the trio as they discuss different ways to utilize travel rewards programs so you can be one step closer to finally taking the vacations of your dreams!

Lyn Mettler

• Website: Families Fly Free with Go To Travel Gal
• Podcast: Families Fly Free Podcast

Resources Mentioned In Today’s Conversation

• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) ChooseFI Ep. 009

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by Measure Twice Money's founder Cody Garrett! Together, they discuss important details about DIY financial planning, such as identifying where you do and don't need help with your financial planning, exercising the rational and reasonable approach when financial planning, and ways you can properly prioritize your spending! Also, the trio shares important information you should know before selecting a financial planner.

Cody Garrett

• Website: Measure Twice Money
• Blog: Measure Twice Money's Blog

Resources Mentioned In Today’s Conversation

• Cody's Interview on FA Success
• Sean Mullaney
• Annual CFP Roundtable 2017 with Kyle Mast and Danny Kenny | ChooseFI Episode 058
• Jorge Soriano - Financial Planning For Good
• Mike Powers - Manuka Financial
• XY Planning Network

Measure Twice Money's Data Gathering Checklist

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by Sean Mullaney to get a jump start on 2021's tax planning season. Together, they discuss managing Backdoor Roth IRAs before the 12/31 deadline, changes to the relevant tax regulations, amended returns, solo 401k's for contractors and entrepreneurs, and so much more! Listen along to see if any of the information shared can be applicable to your own tax planning this season!

Sean Mullaney

• Website: The FI Tax Guy
• Blog: The FI Tax Guy Blog
• Twitter: @SeanMoneyandTax

Resources Mentioned In Today’s Conversation

• Subscribe to the FI Weekly!
• The Backdoor Roth IRA and December 31st
• IRS Instructions for Form 8606
• White Coat Investor's Backdoor Roth IRA Tutorial
• Solo 401ks, SEP IRA's, and the 2021 Stimulus

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

As always, the discussion is general and educational in nature and does not constitute tax, investment, legal, or financial advice with respect to any particular individual or taxpayer. Please consult your own advisors regarding your own unique situation. Sean Mullaney and ChooseFI Publishing are currently under contract to publish a book authored by Sean Mullaney.

With volatile assets like Tesla stock, Ethereum, and Bitcoin, how do you keep a level head while investing? In this week’s episode, Brad and Jonathan are joined by friend of the show Brian Feroldi to discuss managing your runaway winner investments and balancing your portfolio! Listen along as Brian shares his strategies for evaluating stocks, creating guidelines for yourself as an investor, and mentally preparing yourself for the highs and lows of investing!

Resources Mentioned In Today’s Conversation

• Brian’s Anti-Fragile Checklist!
• Subscribe to ChooseFI’s Weekly Newsletter!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

this week's episode, Brad and Jonathan discuss the importance of knowing the difference between paper returns and real returns. If an asset has a certain value in the market, it does not mean that said value will exist once an attempt to liquidate the asset is made! Later in the episode, they dip into the mailbag and answer listener questions about episode 332 and tax planning!

Resources Mentioned In Today's Conversation

• Follow Brad on Twitter!
• Millenial Revolution
• Raising Your Money-Savvy Family For Next Generation Financial Independence by Carol Pittner and Doug Nordman
• Second Generation FI 401k Spreadsheet
• Subscribe to the FI Weekly!
• Join ChooseFI's Facebook Group!
• Transform Your Tax Return Into a Springboard for Financial Planning | ChooseFI Episode 332

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan discuss the rules that financially dictate how we all play the game of life. Together, they point out that knowing the rules can allow you to experience the beneficial side of tax planning, maximizing your benefits, and utilizing your travel rewards! The rules may seem complicated on the surface, but once you understand them, you can start absolutely crushing your path to FI!

Resources Mentioned In Today's Conversation

• Why We Sleep by Matthew Walker, PhD
• Animal Spirits Podcast
• Are Solar Panels Worth The Investment?
• Follow Brian Feroldi on Twitter!
• Get a copy of Brian Feroldi's Anti-Fragile Checklist
• Optimize Your Travel Expenses!
• The True Cost of Car Ownership | ChooseFI Episode 022
• How Do I Figure Out The Taxes On This? | ChooseFI Episode 346

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week’s episode, Brad and Jonathan discuss how critical it is to fully understand what the statistics and numeric values describing your investment returns actually represent. They do so by describing what compound annual growth rate is, explaining the logic behind the 4 percent rule, and by referencing helpful insights gained in previous episodes of ChooseFI! Later in the show, the guys are joined by Rob Phelan from “The Simple Startup” to discuss second generation FI, the benefits of teaching children and teenagers about entrepreneurship, and Rob’s new children’s book M is for Money!

Rob Phelan

• Website: The Simple Startup
• Book: M is for Money

Resources Mentioned In Today’s Conversation

• ChooseFI’s Future Value of Investment Calculator
• Early Retirement Now
• Making Portfolio Adjustments With Big ERN | ChooseFI Episode 199
• How Do I Figure Out the Taxes on This? | ChooseFI Episode 346
• Flexible Spending Rules For Early Retirees | ChooseFI Episode 176
• What Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Episode 206
• 102 Business Ideas for Kids | Simple Startup with Arianna and Sheila | ChooseFI Episode 308
• Future Proof | ChooseFI Episode 271

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan examine the concept of assets and where they fit in your general tax strategy. Together, they discuss the different factors that effect how and when you pay your taxes, compare the differences between Roth IRA's and 401k's, and explore potentially beneficial ways in which after-tax investments and 401k's overlap!

Resources Mentioned In Today's Conversation

• The Unfair (FI) Advantage Of Teachers 457b | ChooseFI Episode 13
• The Millionaire Educator's 2021 Free Money Article
• Subscribe To ChooseFI's Weekly Newsletter

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan talk about the benefits behind creating the space needed in life for you to challenge yourself. While it may be tempting to relax in place with your new-found free time, you should be using it as an opportunity for growth! Who knows, you could even find yourself in a career you never thought you'd be in, making more than you ever thought you could earn! Listen along as the guys tell you the steps needed to execute a masterful career pivot!

Resources Mentioned In Today's Conversation

• The Laura Barrett Cookbook
• You Are More Than Your Financial Capital with Laura Oldanie | ChooseFI Episode 248
• $1K 100 Ways with Nick Loper | ChooseFI Episode 336
• Subscribe to the FI Weekly!
• Take the Free 5-Day Salesforce Challenge!

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan discuss how risk avoidance can weigh down your returns in the form of opportunity costs. While your savings may be safe, you could be missing out on opportunities for your money to work on your behalf! Join the guys as they discuss the rule of 72, inflation, and diversifying as opposed to "deworsifying!"

Resources Mentioned In Today's Conversation

• "Richer, Wiser, Happier" By William Green
• "The Psychology of Money" By Morgan Housel
• Are You as Diversified as You Think You Are? With Frank Vasquez | ChooseFI Episode 313
• JL Collins' Website
• Sign Up For ChooseFI's Weekly Newsletter!

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined for the "many-ith" time by Jillian Johnsrud to discuss her new book, "Fire The Haters." Together, they dissect some of the themes from Jillian's book, which leads to discussions about overcoming imposter syndrome, taking action, acknowledging valid feedback, and identifying the difference between procrastination and preparation!

Jillian Johnsrud

• Website: jillianjohnsrud.com
• Podcast: Everyday Courage

Resources Mentioned In Today's Conversation

• "Fire The Haters" by Jillian Johnsrud
• ChooseFI's Facebook Group

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

When things are good, is it the right move to settle in place? In this week's episode, Brad and Jonathan discuss the nature of good, and how things being good is often the biggest obstacle standing in the way of things being great. After all, there is no opportunity for growth if you linger in a state of complacency!

Resources Mentioned In Today's Conversation

• Built to Last: Successful Habits of Visionary Companies by Jim Collins
• Good to Great: Why Some Companies Make the Leap and Others Don't by Jim Collins
• Early Retirement Extreme
• Pimsleur
• Subscribe to ChooseFI's Weekly Newsletter!
• Follow Brad on Twitter!

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan discuss the benefits of slightly diverting from the FI mindset and spending more on meaningful purchases. While splurging can be a slippery slope, calculated splurging can yield large returns in terms of enjoyment, opportunity, and time!

Resources Mentioned In Today's Conversation

• PaperKarma
• Opt Out Prescreen
• FI Weekly: May 11,2021
• ChooseFI Episode 076: Planned Spontaneity with Mrs. Adventure Rich
• ChooseFI Episode 048: The Happy Philosopher | The Happiest Man in the Room
• ChooseFI Episode 337: Ordinary Sherpa with Heidi Dusek
• Find Your Local ChooseFI Group!
• Follow Brad on Twitter!
• Follow ChooseFI on Twitter!
• TurboTax TaxCaster
• SmartAsset

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan reopen the mailbag which prompts a discussion examining the true monetary value behind collectable items, and why finding that diamond in the rough could inherently be more valuable than actual diamonds! We also hear about some fantastic wins the community has experienced, plus some insight on how to operate a high-earning lemonade stand with your kids!

Resources Mentioned In Today's Conversation

• Subscribe to ChooseFI's Weekly Newsletter!
• Mr. Money Mustache
• Animal Spirits Podcast
• Frugal Fringe's Diamond Article
• Lower Your Internet, Cable, and Phone Bills with Trim
• Nextdoor

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan dive into the mailbag and respond to listener emails! Throughout the episode, you'll hear about some of the wins those in our community have experienced, ranging from having the power to take back and optimize personal time, to 2nd graders discussing the FI movement with their teacher!

Resources Mentioned In Today's Conversation

• ChooseFI's Facebook Group
• Sign up for ChooseFI's Weekly Newsletter!
• Take The 5-Day FI Challenge
• Talent Stacker

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

While slashing your expenses can certainly accelerate your path to financial independence, what if it also begins to slash at your own happiness and wellbeing? In this week’s episode, Brad and Jonathan are joined by Alan Donegan from the Rebel Entrepreneur podcast, who attempts to solve this dilemma by discussing 10 ways in which you can increase your income. This way, you can still enjoy the smaller luxuries in your life while maintaining a strong roadmap to financial independence!

Alan Donegan

• Website: Alan Donegan
• Podcast: Rebel Entrepreneur

Resources Mentioned In Today's Conversation

• ChooseFI Episode 23: Career Hacking With ESI Money
• ChooseFI Episode 147: Negotiate Your Salary With Tori Dunlap
• ChooseFI Episode 211: How to Negotiate Your Salary Without Burning Bridges With The Financial Mechanic
• Rebel Entrepreneur Coaching Series
• ChooseFI Episode 117: Making The Case For Part Time With Bradley Rice
• ChooseFI Episode 158: Real Hourly Wage With The Frugal Engineers
• Millenial Revolution
• ChooseFI Episode 233: Networking With Jordan Harbinger
• Influence by Robert B. Cialdini
• Rebel Business School Negotiation Course Notes
• The Ultimate Sales Machine by Chet Holmes
• ChooseFI Episode 129: Breaking The Glass Ceiling With Liz From Chief Mom Officer
• Toastmasters International
• Rebel Entrepreneur: 5 Ways to Build A Business With No Debt

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Does settling down and starting a family really mean that your days of adventuring are over? In this week's episode, Brad and Jonathan are joined by Heidi Dusek from the Ordinary Sherpa Podcast, who firmly believes that having a family doesn't mean that your ability to adventure disappears! Heidi shares with the guys strategies that you can implement with your family to ensure you continue to exercise your "adventure muscle!"

Heidi Dusek

• Website: Ordinary Sherpa
• Podcast: Ordinary Sherpa

Resources Mentioned In Today's Conversation

• Find A Local Group
• Vincent Pugliese's Total Life Freedom
• Jillian Johnsrud
• Everyday Adventure Newsletter
• ChooseFI Episode 76; Planned Spontaneity with Mrs. Adventure Rich

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by author, podcaster, and entrepreneur Nick Loper from Side Hustle Nation. In their conversation, Nick emphasizes that thinking creatively when looking to start an entrepreneurial journey can lead to a surprisingly successful endeavor. Nick also cited examples he has came across after starting his "1k, 100 ways" project, and how the right idea for a side-hustle could evolve into a full time business!

Nick Loper

• Website: Side Hustle Nation
• Podcast: The Side Hustle Show

Resources Mentioned In Today's Conversation

• $1000, 100 Ways by Nick Loper
• Tools of Titans by Tim Ferris
• Tribe of Mentors by Tim Ferris
• The Sweaty Startup
• The Financial Mentor

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan get introspective and examine the choices that everybody has laid out for them in their lifetimes. Together, they ponder why so many choose only the cookie-cutter options in life, and how taking the path less traveled can lead to happiness you never even knew was possible.

Resources Mentioned In Today's Conversation

• Maslow's Hierarchy of Needs
• Into The Wind with Brandon Pearce
• Subscribe to our Newsletter!
• ChooseFI Local Groups

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's two-part episode, Brad and Jonathan provide personal examples and insight on relatively safe ways to experiment with your FI investment plan! Later in the show, Sean Mullaney joins the guys to discuss revocable living trusts and how they can fit in with the, "hard to think about," side of future tax planning!

Resources Mentioned In Today's Conversation

• Tax Basis for Beginners
• Transferring A Primary Residence To Children
• What Does Inflation Mean for Investors? With Big ERN | EP 331
• Are You as Diversified as You Think You Are? With Frank Vasquez | EP 313
• Risk Parity Radio
• Transform Your Tax Return Into a Springboard for Financial Planning | EP 332

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by Jillian Johnsrud, the host of the Everyday Courage podcast and fellow FI guru. Jillian shares with the guys the concept behind a mini-retirement, or in other words taking an extended period of time off outside of the so called "golden years." Together, the trio discussed the benefits of mini-retirements, strategies for optimizing your time while mini-retired, and how to properly prepare for a mini-retirement!

Resources Mentioned In Today's Conversation

• The Four Hour Work Week by Tim Ferriss
• Episode 147 | Negotiating Your Salary with Tori Dunlap
• Adventures to FI Retreat
• 6 Steps To Taking A Mini-Retirement
• Jillians Free 10-Day Life Planning Course

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this week's episode, Brad and Jonathan are joined by none other than the "FI Tax Guy" himself, Sean Mullaney. Together, they highlight reasons why your tax return may not be such a great thing, and the different ways you can leverage your tax planning to your own advantage!

Resources Mentioned In Today's Conversation

• From Tax Returns To Tax Planning
• Solo 401(k) to Reduce 2021 AGI

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

Big ERN (a.k.a. Karsten) from "Early Retirement Now" makes his return to the podcast in this week's episode! With Brad and Jonathan, Big ERN gives us the lowdown on what inflation is, the role inflation plays in the world economy, and the effect inflation can have on a variety of investments!

Resources Mentioned In Today's Conversation

• Start Your Journey to FI Here

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this episode, Brad and Jonathan sit down with Paula Pant, author of the ebook Escape and creator of the blog and podcast Afford Anything. As a group, the trio discuss the current landscape of the housing market, whats different between it now and 14 years ago, some tips and ticks for buyers, and whether or not the current housing market is in a bubble!

Resources Mentioned In Today's Conversation

• Sign up for Paula and Jonathan's Live Event on 6/28!

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this episode, Brad and Jonathan take a look at popular portfolios in the financial independence community and lay down a structure of comparison for them in a fashion similar to that of a horse race! Join us during the longitudinal study to find out which of these various investment strategies is the right fit for you!

Resources Mentioned In Today's Conversation

• All The Hacks with Chris Hutchins
• Level Up Your Dividend Strategy and Optimize Your Portfolio
• JL Collins
• Paul Merriman
• Paula Pant

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this episode, Brad and Jonathan discuss investment strategies with Brian Feroldi, a seasoned veteran of the stock market and author for The Motley Fool. Brian shares with Brad and Jonathan some insight into the current landscape of the market, why some stocks perform the way they do, and why it is important to take a look at the business behind the stock and not just the value of that company's shares.

Resources Mentioned In Today's Conversation

• ARK Fund
• Brian's Checklist and Early Book Access

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this episode, Brad and Jonathan are joined by Alan Donegan, an entrepreneurial guru and host of the "Rebel Entrepreneur" podcast. Together, the trio discuss their own entrepreneurial journeys, tips and strategies for up and coming entrepreneurs, and where entrepreneurship could fit within your FI journey!

Resources Mentioned In Today's Conversation

• Salesforce 5-Day Challenge
• ChooseFI Facebook Group
• The Four Hour Work Week by Timothy Ferris
• Millennial Revolution
• Mr. Money Mustache

Want to start your own journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!

In this episode, Brad and Jonathan reexamine the stages and checkpoints of Financial Independence. In our community, many people are just trying to figure out where they are on this path to FI. While every individual’s journey will be unique, when you can gamify the process, the journey can be more rewarding and enjoyable.

Resources Mentioned In Today's Conversation

• Raising Your Money-Savvy Family For Next-Generation Financial Independence
• Subscribe to Brad’s newsletter, The FI Weekly
• The Simple Startup Summer Challenge
• Clothing Shop Online

Want to start your own Journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!  

In this episode, Brad and Jonathan reexamine the stages and checkpoints of Financial Independence. In our community, a lot of people are just trying to figure out where they are on this path to FI, and while every individual's journey is going to be unique, when you can gamify the process, the journey can be more rewarding and enjoyable.

Want to start your own Journey to Financial Independence? Sign up for the free 5-Day FI Challenge here!  

Dennison, a member of the FI community and recent Salesforce success story, joined the guys today for a special interview. He expressed to us that being adaptable and willing to change your world viewpoints on the fly (especially in the face of the COVID pandemic) has allowed him to achieve great financial and personal success.

Resources Mentioned In Today’s Conversation

• Talent Stacker Salesforce 5-Day Challenge
• ChooseFI Episode 117 Making the Case for Part-Time With Bradley Rice

What You’ll Get Out Of Today’s Show

• Picking back up with our ChooseFI Households of FI family, Zach and Marilyn to hear about all of the incredible progress they’ve made since their last episode.
• Like most people, the last year has turned Zach and Marilyn’s life upside down, only their’s has been positive. Following their conversation with Paula Pant in Episode 247, they were felt encouraged to move forward with a real estate investment when the numbers made sense rather than waiting for a property that met all the specific criteria.
• Within two months of their conversation with Paula, they purchased the home they are currently living in. Since then, they have put money in renovations and just rented out the basement apartment.
• Although the original plan was to do a live-in flip, they are now house hacking after taking out a mortgage with a 2% interest rate thanks to their excellent credit, making their new mortgage the same as the mortgage on their previous home that was half the size. Plus, the basement apartment rent is covering the entire mortgage and then some.
• Zach finished school in 2020 and began working in his field earning a good raise. Rather than let the raise inflate their lifestyle, Zach put the entire raise into his 457 plan.
• Between saving more than $1,000 a month on a mortgage and putting $1,000 a month into a 457, Zach and Marilyn have created more than $24,000 of space in their financial lives.
• Although five years ago, they never would have dreamed of being in their current position, they attribute frugality and long-term planning for their success.
• Being on the path to FI feels so good that it’s something Zach talks to people in his everyday life about. He thinks if you adopt the long-term mindset and stick it out during the first five or six years, seeing the end from the beginning becomes less overwhelming.
• Marilyn says that not having debt hanging over their heads has improved their quality of life a hundredfold. While it did take them six or seven years to get there, it wouldn’t have happened at all if they hadn’t taken that first step.
• In looking toward the future, they have created FU money, which they’ve already reaped the rewards of. When Marilyn’s employer told her to come back to work 100% after successfully working from home during the last year, she decided to quit rather than put her kids back into daycare.
• Jonathan appreciates the power of no and says sometimes when you can say no to your employer, it puts you in a position of power where they might be willing to negotiate.
• Zach and Marilyn’s have no mortgage payment, drive paid-off cars, and have an abundance mindset that allows them to live off around $30,000 and want for nothing. In fact, Marilyn uses a hack from Brad and uses an Old Navy credit card for their spending, and earns points to buy clothes for his kids.
• In comparison, most other American families spend $30,000 on just shelter and car payments.
• When leaving previous jobs, Marilyn always felt a bit of panic, wondering how they would make things work, but with living expenses taken care of, they were in a different place. She felt none of that panic.
• Zach grew up without a lot of money and a scarcity mindset. When interacting with people who were well off, he often felt if that person was wealthy that he couldn’t be. The path to FI has been a mind shift to understanding that everybody can win and to a level of empathy.
• What’s next for Zach and Marilyn? Since they are saving more money than ever before, they are interested in optimizing what they do with it. They have considered more rental properties, but prices are high and inventory is low. Index fund investing is another option.
• Prices are high in their area and they looked into renting out their current home, but it doesn’t meet the 1% rule. They would need to geo-arbitrage a second rental.
• If they were to purchase another property, the downpayment would likely come from an old 401k of Marilyn’s. Zach has looked at rolling it into a self-directed IRA for real estate.
• Since Marilyn left that employer her 401k is with, it should have triggered the option to roll it over to an IRA without creating a taxable event as long as she follows her plan’s rules.
• They also have an interest in diversification, but with the real estate market so high, they want to have cash on hand to make a move if it dips. And if the stock market does something crazy, Zach and Marilyn want to be prepared for it.
• They want to invest, just with a shorter time horizon, so they need to invest somewhere with less risk.
• Jonathan says they need to invest like a 55 or 60-year-old. They can achieve that with investments that provide either income stability or a negative correlation.
• They would love to be able to pay for their next property with cash, but they don’t know when the next deal that makes sense will pop up. It could be anytime in the next five years and ideally, they would like to have at least $75,000 saved up for it.
• Although Zach and Marilyn want to do what’s the most optimal with their money, Brad says it really should be what they are comfortable with. Investing in real estate isn’t for everyone and may provide comparable returns to the stock market. They should keep communicating and figuring out what works for them at the moment as it’s impossible to predict where they will be in five years.
• Jonathan thinks it won’t take long to reach financial independence. With annual expenses of just $30,000, they will need $875,000 to hit FI. With $80,000 in investments and adding $1,500 to it each month, they will have $229,000 in 5 years. In ten years, they will have $451,000, and in 15 years, it will reach $783,000 if nothing else changes.
• Future raises, additional rental properties, or Marilyn returning to work can only speed their path to FI. Both Brad and Jonathan believe they can achieve FI in 10-12 years.