Answering Listener Questions on asset allocation, retirement strategies, and the intricacies of real estate investing. With Brad Barrett and Rachael Camp. Whether you are pondering upon the backdoor Roth IRA strategy or seeking clarity on managing funds without a 401k, this episode is for you!   Public Service Announcement: Importance of filing the Beneficial Ownership Information form for legal entities by December 31st 00:01:21. Mailbag Questions: How to Invest Without a 401k: Options include traditional IRAs and Health Savings Accounts (HSAs), while noting contribution limits. 00:03:43, 00:04:12. Company Matches in Retirement Accounts: Highlighted as a crucial opportunity to maximize savings 00:09:12. Backdoor Roth IRA: A legal way for high earners to sidestep income limits for Roth IRA contributions 00:15:09. Asset Allocation: Discussion on the complexities of asset allocation, particularly as one approaches retirement, and the impact of sequence of returns risk 00:24:07. Real Estate Investing: Key considerations and the risks associated with real estate investments 00:56:01. Questions: What can I do if my employer doesn’t offer a 401k? Consider options like a traditional IRA or a health savings account. 00:04:12 How do I manage sequence of returns risk in retirement? It's crucial to have a cash reserve and bonds as a cushion against market downturns. 00:26:36 What should I consider when investing in real estate? Understand cash flow, assess the market, and account for all potential expenses and vacancies to avoid risks. 00:58:08   Actionable Takeaways: Review and potentially set up a traditional IRA if your employer doesn't offer a 401k. 00:04:12 Consider maintaining a cash buffer for the first few years of retirement to mitigate risks. 00:26:36 Maximize your retirement account contributions to include any employer matches. 00:09:12 "Avoid reverse dollar cost averaging by holding onto equities during market downturns." 00:39:28 "Company matches in retirement accounts offer unmatched returns—don’t miss out!" 00:09:12 "Explore diverse account types for effective financial management." 00:10:00     **Disclaimer Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.

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

TJ shares his financial journey and experience reaching financial independence, focusing on intentional savings and the joy of family life. Early influences and educational backgrounds shaped his approach to finance, leading to a strategic path that included tracking net worth and undertaking regular financial meetings with his wife.  The episode dives into the challenges they faced, especially when dealing with unexpected medical circumstances and highlights the delicate balance between enjoying life and making prudent financial decisions, ultimately aligning with their core values.    Key Takeaways: Intentional Savings: Be proactive in saving and planning for financial independence. 00:03:37 Tracking Net Worth: Regularly evaluate your financial progress.00:10:02 Community Support: Rely on your community during tough times. 00:29:16 Flexibility in Planning: Adapt financial strategies as life changes occur. 00:36:02 Maintain a Positive Mindset: Approach challenges with optimism and agency. 00:42:08 Actionable Takeaways: Implement regular financial meetings with your partner to track and discuss financial health. Consider unexpected medical costs when planning for financial independence. Maintain a positive and adaptable mindset when facing life challenges. Action Items: Start tracking your net worth regularly to understand your financial progress. Set aside time for financial discussions with your partner every few months. Plan for unforeseen medical costs in your financial independence calculations. Related Resources: The Simple Path to Wealth  FaithFi (formerly CompassOne)  Discussion Questions: What aspects of financial planning do you think are most important? How can community support impact your personal finance journey? What strategies can you adopt to maintain a positive mindset during challenges? How can tracking net worth change your financial perspective?

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

Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett This episode dives into the strategy of capital gains harvesting, explaining how it can help individuals minimize taxes on investments and potentially realize tax-free income. We break down how this approach fits into financial independence planning, including key comparisons between capital gains and ordinary income, real-life scenarios, and important health insurance considerations for early retirement. What strategies can you use to reduce your tax burden during retirement? How can understanding capital gains impact your long-term financial decisions? What role does income management play in health insurance planning for early retirement?   Chapter Markers: [00:00:00] Introduction to Capital Gains Harvesting [00:01:38] Understanding Income Tax and Capital Gains [00:05:22] Tax Rate Comparisons: Ordinary vs. Capital Gains [00:20:07] Real-Life Case Studies [00:49:34] Key Takeaways and Best Practices Key Takeaways: Understand your capital gains tax rates to optimize when to sell investments. Use capital gains harvesting to realize profits without tax penalties. Plan retirement income carefully to maintain eligibility for health insurance subsidies. Links & Resources: Measure Twice Money Measure Twice Money YouTube Channel    

In this episode: building muscle for health, sacropenia, consistency and proper form, routines, and recovery. This episode is a deep dive into muscle-building strategies, with actionable advice for beginners and experienced fitness enthusiasts alike. Brad and Dean Turner share practical tips on workout programming, nutrition, and recovery, making it a perfect masterclass for anyone looking to improve their health and strength. Dean Turner: Website: deanturnertraining.com Twitter: @DeanTTraining 🔑 Key Themes Discussed: The importance of building muscle for health, longevity, and independence in later life Overcoming age-related muscle loss (sarcopenia) through resistance training Simplifying muscle-building techniques for beginners and experienced individuals The role of proper form, progressive overload, and consistency in muscle growth Common misconceptions about muscle growth and the science behind it Customizing workout routines based on individual schedules and goals The importance of recovery, rest, and nutrition in maximizing gains Practical advice on workout programming and exercise selection 🕒 Chapters: 00:00 – Introduction: The Importance of Muscle Building 02:00 – Age-Related Muscle Loss and Why Muscle Matters 06:00 – Customizing Workouts: 3-Day vs. 5-Day Programs 09:00 – Exercise Selection: Upper/Lower Body, Push/Pull 13:00 – How Muscle Growth Actually Works: The Science Explained 18:00 – Importance of Progressive Overload and Rep Ranges 22:00 – Common Workout Mistakes and How to Avoid Them 27:00 – Listener Questions: Setting Goals for Muscle Growth 33:00 – Understanding Rest Times and Recovery 40:00 – Importance of Nutrition: Protein and Macronutrients 45:00 – Creating a Sustainable Workout Routine 51:00 – Final Tips: Staying Consistent and Tracking Progress 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by J.L. Collins Hevy Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: social engineering, pig butchering, cryptocurrency risks, scammer tactics, and avoiding being a victim. This week Brad speaks with cyber security expert Tom who will be giving some updates on the landscape of cybersecurity, what targeted scams look like, as well as some actionable steps you can take to avoid these scams. Though it may seem that cybersecurity attacks are ever-evolving and may be harder and harder to avoid, there are ways to make yourself less vulnerable to attacks. Making sure you’re having open conversations about this topic with your friends, and especially your older family members is crucial and can make sure you avoid falling for these scams!  🔑 Key Themes Discussed: The rise of social engineering scams and how they manipulate victims “Pig Butchering” scams: how scammers build trust, then steal your money How cryptocurrency is used in scams and the risks involved Recognizing investment scams and protecting yourself from fraud The emotional and psychological tactics scammers use to isolate victims The role of AI and fake profiles in advanced scams Actionable steps to avoid becoming a victim The importance of spreading awareness to protect your family and friends Reporting scams and what to do if you’ve been a victim 🕒 Chapters: 00:00 – Introduction and Overview of Cybersecurity Threats 02:00 – What is Pig Butchering and How it Works 04:00 – Investment Scams and Social Engineering Explained 06:00 – How Scammers Build Relationships and Gain Trust 08:00 – Examples of Scams: Dating Apps, Fake Profiles, and Social Media 12:00 – Cryptocurrency in Scams: What to Watch Out For 16:00 – The Role of AI and Deepfakes in Cyber Scams 18:00 – Personal Stories: Victims Who Lost Everything 22:00 – Action Steps: How to Protect Yourself and Loved Ones 27:00 – How to Report Scams and Recover Funds 29:00 – Recognizing Scams in Everyday Life: Red Flags and Signals 34:00 – Final Thoughts and Preventative Tips 🔗 Mentioned Links and Resources: Securing Your Financial Life | ChooseFI Ep 397 Internet Crime Complaint Center (IC3) More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation. This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!  Jeremy Schneider: Website: personalfinanceclub.com Instagram: @personalfinanceclub 🔑 Key Themes Discussed: The pitfalls of overcomplicating personal finance and investment strategies The power of simplicity in financial management and investing Mistakes made in early investing: complex ETFs vs. simple index funds Jeremy’s journey from selling his company to managing a $2M windfall The surprising truth about target date funds and why simplicity often wins The concept of “the more I tinker, the worse it gets” in investment strategies Personal finance habits that persist from childhood and their impact on adult financial decisions Dividends vs. reinvesting: pros, cons, and psychological aspects Understanding the differences between fiduciary financial advisors and those incentivized to sell products Why financial simplicity and automation can lead to better outcomes 🕒 Chapters: 00:00 – Introduction to Jeremy Schneider 02:00 – Simplicity vs. Complexity in Financial Decisions 03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes 06:00 – Complex ETFs vs. Target Date Funds 08:00 – How Tinkering Can Lead to Worse Financial Outcomes 12:00 – Personal Finance Habits from Childhood 14:00 – Dividend Reinvestment: To Reinvest or Not? 18:00 – Simplifying Financial Life: Automating Investments 22:00 – The Dangers of Chasing Dividends 26:00 – Real-Life Examples of Bad Financial Advice 33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople 39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance 46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence 🔗 Mentioned Links and Resources: The 7 Sins of Investing Nectarine Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: getting started early with FI, the 4% rule, retirement accounts, real estate, and safe withdrawal rates. This episode is packed with actionable information that can help with maximizing your financial future, from house hacking to Roth conversions, and strategies for living off your investments. Brad and Rachael dive into real-world listener questions to help you navigate your FI journey with confidence. Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: The benefits of getting started early with financial independence (FI) Evaluating the 4% rule and how to live off investments in retirement Understanding the difference between Roth vs. Traditional retirement accounts Tax strategies for early retirement and avoiding penalties House hacking as a way to reduce housing costs and boost savings Real estate as an investment: risks, rewards, and misconceptions Maximizing income while keeping expenses low for young professionals Safe withdrawal rates, dividends, and managing investments post-retirement The psychological aspects of early retirement and maintaining financial health 🕒 Chapters: 00:00 – Introduction to Mailbag with Rachael 01:00 – Starting Early with FI: Gabby’s Journey 03:00 – Roth vs. Traditional Retirement Accounts for Young Investors 06:00 – House Hacking and Real Estate Strategies 09:00 – How the 4% Rule Works for Early Retirement 12:00 – Income Maximization for Young Professionals 18:00 – Managing Dividends and Withdrawal Strategies in FI 24:00 – Safe Withdrawal Rates and Creating Your Own Dividend 31:00 – Listener Questions: Roth IRA Conversion Ladder 36:00 – Tax Strategies and Avoiding Penalties in Early Retirement 43:00 – Rethinking Real Estate and House Hacking Risks 51:00 – Wrap-Up and Final Thoughts on Financial Independence 🔗 Mentioned Links and Resources: Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp | ChooseFI Ep 505 Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp | ChooseFI Ep 496 How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Drawdown Strategies: Karsten vs. Fritz | ChooseFI Ep 427 House Hacking With Coach Carson | ChooseFI Ep 16 Scott Trench | Set For Life | ChooseFI Ep 63 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community. This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn’t mean you should wait until you reach your goal to actually start making the moves to get there! Whether you’re near the finish line or just beginning, don’t wait to explore other possibilities that can elevate not only your FI journey but your life.  🔑 Key Themes Discussed: The emotional journey of downsizing and letting go of possessions Achieving CoastFI and the realization of financial independence The significance of mini-retirements and experimenting with lifestyle choices Personal growth and redefining goals in mid-life The psychological effects of decision-making in early retirement Creating space for joy and gratitude in life transitions Overcoming attachment to material possessions and past dreams Building community after major life transitions, such as moving and career changes 🕒 Chapters: 00:00 – Introduction: Ginger and Anne’s Journey 01:00 – Anne’s Recent Move and Downsizing 03:00 – Discovering Financial Independence Through the FI Formula 07:00 – Defining CoastFI and the Big Epiphany Moment 10:00 – Reflecting on Personal Goals and Letting Go of Past Dreams 13:00 – Experimenting with Mini-Retirements: Learning from the FI Community 16:00 – Downsizing: The Emotional Process of Letting Go 22:00 – Influence of Family Illness and Death on the FI Journey 27:00 – The Challenge of Winter Depression and Its Role in Change 31:00 – Selling the Family Home: Closure and Moving Forward 36:00 – Gratitude and the Practice of Being Present 40:00 – Taking the Leap: Early Retirement and What Comes Next 46:00 – Finding Community and Building a New Life After Moving 51:00 – The Courage to Try New Things and Embrace Discomfort 55:00 – Final Reflections on Joy, Curiosity, and Living Without Regret 🔗 Mentioned Links and Resources: Contact Anne:  [email protected] “Disrupt Yourself, With a New Introduction: Master Relentless Change and Speed Up Your Learning Curve” by Whitney Johnson “The Artist’s Way: 30th Anniversary Edition” by Julia Cameron Retire Often Podcast Famous Failures “Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life” by Ovan Varol Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate. This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we’ve taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you’ll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week’s episode. 🔑 Key Themes Discussed: Financial Independence (FI) journey and making big life transitions The importance of experiencing challenging tasks to build resilience (“doing hard things”) Insights on taxes in retirement: why you may pay less than expected Travel hacks: optimizing family cruises and travel rewards points The psychological approach to financial success: The Gap and The Gain concept Personal health and wellness: Brad’s journey with hiking, saunas, and cold plunges Community wins: listener success stories on saving, investing, and achieving FI Health insurance strategies for early retirees Real estate strategies and long-term capital gains tax advantages Addressing common FI misconceptions and how to optimize your finances 🕒 Chapters: 00:00 – Introduction and Recent Trips 01:30 – Travel Rewards and Cruise Optimization 06:00 – Family Vacations and Cruise Hacks 08:30 – Colorado Trip and Doing Hard Things 10:00 – Hiking Challenges: Lessons from FI and Fitness 17:00 – Financial Independence Journey: Overcoming Obstacles 21:00 – The Gap and The Gain: Mental Shifts for Success 27:00 – Understanding Taxes in Retirement 35:00 – Health Insurance and Early Retirement Strategies 40:00 – Capital Gains Tax and Real Estate in FI 48:00 – Listener Questions and Real-Life Examples 55:00 – Community Wins: Listener Success Stories 59:00 – Travel Rewards Victory: Booking Free International Trips Resources Mentioned In Today’s Episode: “The Gap and The Gain: The High Achievers’ Guide to Happiness, Confidence, and Success” by Dan Sullivan and Dr Benjamin Hardy The Shockingly Simple Math Behind Early Retirement BiggerPockets Real Estate Podcast “Set for Life: Dominate Life, Money, and the American Dream” by Scott Trench Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment. In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you’re a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way! 🔑 Key Themes Discussed: The impact of rising interest rates on real estate markets in 2024 The “lock-in effect” and how low-interest mortgages affect housing supply Rent vs. buy decisions in today’s market The rise of multifamily and single-family housing supply, especially in regions like Austin House hacking in 2024: Is it still viable? The state of commercial real estate and multifamily investments How interest rate trends impact real estate investors Opportunities for investors in a downturn: Finding deals amidst crisis Syndications: Potential pitfalls, bad actors, and lessons learned for 2024 Real estate investment strategies: What to do with your mortgage and how to balance risk 🕒 Chapters: 00:00 – Introduction: Welcoming Scott Trench 01:00 – Rising Interest Rates and Market Effects 03:00 – Housing Supply and the Lock-in Effect Explained 04:30 – Rent vs. Buy: How the Calculus Has Changed 09:00 – The Build-to-Rent Industry and Single-Family Rentals 12:00 – House Hacking in 2024: Is It Still Worth It? 16:00 – Multifamily Housing Supply and Regional Trends 17:00 – Commercial Real Estate: What’s Happening Now? 20:00 – How Interest Rates Are Crushing Commercial Investors 24:00 – Opportunities Amidst a Crisis: Where to Find Deals 27:00 – The Real State of Syndications: Risks and Rewards 33:00 – Evaluating Syndicators: How to Find Good Deals in 2024 36:00 – Real Estate Investment Strategies: Notes, Funds, and Lending 43:00 – Pay Off Your Mortgage or Invest? 50:00 – Long-Term Real Estate Bets and Holding Strategies 56:00 – Wrap-Up: Key Takeaways and Final Thoughts 🔗 Mentioned Links and Resources: BiggerPockets The BiggerPockets Money Podcast Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: surpriseFI, minimalism, frugality, emotional and psychological aspects of FI, and alternative lifestyles. We often get a lot of great ideas and questions from the FI community, and what better way to answer some as well as inspire than bring in one of our own to discuss their journey! In this special Friday episode, Ginger is joined by member of the FI community, Kim, to discuss how she found herself on her “surpriseFI” journey. Together, the pair talks about balancing frugality and minimalism, the importance of designing the life you want, as well as share some resources and recommendations that helped her on her journey! 🔑 Key Themes Discussed: The journey to achieving Financial Independence (FI) through surprise and discovery Minimalism, frugality, and living below your means as a path to freedom Transitioning from work life to financial independence and early retirement Personal reflections on housing, relationships, and travel in post-retirement life Emotional and psychological aspects of financial independence Strategies for aligning personal values with financial decisions Exploring alternative lifestyles: hatchback camping, Peace Corps, and low-cost living 🕒 Chapters: 00:00 – Introduction and How Kim and Ginger Met 02:00 – Kim’s Journey to Surprise Financial Independence 06:00 – Experimenting with Early Retirement: Leave of Absence Strategy 09:00 – Living Frugally: Kim’s Minimal Spending Habits 12:00 – Kim’s Unique Housing Situation and Thoughts on Real Estate 15:00 – The Role of Minimalism in Achieving Financial Freedom 17:00 – Life After Retirement: Adventure, Travel, and Hatchback Living 23:00 – Challenges and Opportunities in Dating After FI 27:00 – Personal Growth, Goals, and the Desire for Meaningful Projects 33:00 – Financial Planning Tools and Resources for FI 35:00 – Balancing Frugality and Enjoyment: Traveling on a Budget 40:00 – Final Thoughts: Kim’s Recommendations for an Extraordinary Life 🔗 Mentioned Links and Resources: “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robinson, Joe Dominguez, and Mr Money Mustache. Contact Kim:  [email protected] “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki Rich, Broke, or Dead? Post Retirement FIRE Calculator Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep. 18 Afford Anything with Paula Pant | Vicki Robin: Financial Independence After 70 [GREATEST HITS WEEK] Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: 5% safe withdrawal rate, the three stories, psychology and personal finance, and community. In this insightful episode of the ChooseFI Podcast, Brad chats with Frank Vasquez, a well-known figure in the financial independence community and the voice behind Risk Parity Radio. They delve into Frank’s journey from a career in law to becoming a personal finance expert, and explore topics like the 5% safe withdrawal rate, revealed preferences, and Frank’s three defining life stories. This conversation offers insight on approaching personal finance, investments, and life after achieving financial independence. Frank shares his unique blend of academic rigor, personal curiosity, and his thoughtful approach to living with purpose in the post-FI world. 🔑 Key Themes Discussed: Understanding the 5% Safe Withdrawal Rate (SWR) and its practical application. How revealed preferences shape financial and life decisions. The three stories Frank lives by: the Curious Child, the Starfish Thrower, and the Mexican Fisherman. How narrative psychology impacts our personal finance decisions. Personal experiences in managing life post-financial independence. The intersection of economics, personal finance, and storytelling. Practical insights on podcasting, community engagement, and sharing financial knowledge. 🕒 Chapters: 00:00 – Introduction to Frank Vasquez and Risk Parity Radio. 03:00 – Frank’s Journey: From Law to Personal Finance Expert. 07:30 – Understanding the 5% Safe Withdrawal Rate. 15:00 – The Three Stories Frank Lives By. 25:00 – Revealed Preferences: What Do We Really Want? 35:00 – Narrative Psychology and Personal Finance Decisions. 45:00 – Post-FI Life: Teaching, Relationships, and Purpose. 55:00 – Frank’s Thoughts on Podcasting and Community. 🔗 Mentioned Links and Resources: Risk Parity Radio Big Think video on Narrative Psychology with Jane Goodall and Terry Crews “Build the Life You Want: The Art and Science of Getting Happier” by Arthur Brooks and Oprah Winfrey The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194 Find Your Local ChooseFI Group More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: overcoming fears, the importance of community, community wins, reaching FI goals, and ripple effects. This week Brad is re-joined by Ginger for another installment of the round-up, where we will be discussing topics such as new 529 plans, the importance of making connections within your community, and actionable steps for overcoming anxieties while on your FI journey! Additionally, it wouldn’t be a round-up episode without as well as shouting out some frugal wins from our wonderful community! While these episodes are not only a great way for us to give you personal updates and perspectives, it’s an even better way for us to highlight some of the tips and tricks you’ve picked up on your respective FI journeys!  🔑 Key Themes Discussed: The psychological aspects of financial independence and overcoming fear. Building a fulfilling life by focusing on fulfilling days. Strategies for maximizing benefits from 529 plans. The importance of community and connection in the FI journey. Overcoming anxiety and embracing serendipity in life choices. Practical steps for financial checkups and optimization. Leveraging travel and experiences for personal growth and connection. Exploring frugality and financial prudence in everyday decisions. 🕒 Chapters: Introduction to the Episode with Brad and Ginger Highlighting Community Wins and Stories Embracing Challenges and Overcoming Fears in Personal Growth Listener Voicemail – Updates on Reaching FI Goals New Rules and Tips for 529 Plans Frugal Wins of the Week Big Financial Moves and Their Ripple Effects Conclusion and Reflections on Building Community and Connection 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 Making FI Fun Again | ChooseFI Ep 502 Subscribe To The FI Weekly More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects. This week we are joined by Kyle Nolan, creator and founder of ProjectionLab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he’s faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it’s important to remember that you don’t have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback!  🔑 Key Themes Discussed: Kyle’s journey from traditional employment to entrepreneurship. The development and impact of ProjectionLab in the FI community. The role of personal passion in creating and growing a side hustle. Overcoming fear and indecision when launching a new venture. The importance of a supportive community in achieving financial independence. 🕒 Chapters: Introduction to Kyle Nolan and ProjectionLab Kyle’s background and the start of his FI journey The motivation behind creating ProjectionLab The challenges and rewards of entrepreneurship The pivotal moment of launching ProjectionLab on Hacker News The significance of mental headspace in pursuing side projects Brad’s reflections on proof of concept and personal finance journey How to encourage children to explore their passions in technology 🔗 Mentioned Links and Resources:   ProjectionLab (Use Code "CHOOSEFI" for 10% off!) Richmond Savers Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: debt and investing, the 4% rule, Roth 401k and traditional 401k, and total return investing. This week we are back with a listener Mail Bag featuring returning guest Rachael Camp! Together, we will be answering questions and giving our feedback on nuanced topics asked by the community! Listen along for discussions about the 4 percent rule, how taxes are factored into your FI number, investing in dividends, paying down debt versus investing, and finally a shortlist of actionable steps one could take if they are young and beginning their FI journey. There is much to discuss and so much more to learn this week as we tackle your FI questions!  Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: Introduction to Financial Independence Debt vs. Investing The 4% Rule and Taxes Roth 401k vs. Traditional 401k Dividends vs. Total Return Investing Second Generation FI 🕒 Chapters: Getting Started with FI Debt vs. Investing 4% Rule and Tax Implications Roth 401k vs. Traditional 401k Dividends vs. Total Return Investing Second Generation FI 🔗 Mentioned Links and Resources: Find Your Local ChooseFI Facebook Group Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238 How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

This week on ChooseFI, Brad welcomes Devon, a 22-year-old National Guard member and aspiring mechanical engineer, to discuss the power of intentionality and personal finance! Together, Brad and Devon explore how small, deliberate actions can create a domino effect in shaping one's financial future. Devon shares his journey from joining the National Guard at 17 to discovering financial independence through ChooseFI, and how his disciplined approach to life has led him to save for his first home, maximize military benefits, and even inspire his peers. 🔑 Key Topics Discussed: The Domino Effect: How Small Actions Lead to Big Changes Financial Independence: Starting Young and Staying Disciplined Maximizing Military Benefits: Tuition Assistance and Beyond Real Estate Goals: Saving for a Down Payment with Intentionality Mentorship and Networking: Learning from Industry Professionals Practical Financial Tips: Budgeting, Saving, and Investing Wisely 🕒 Chapters: Introduction to Devon's Story and His Early Start in FI The Domino Effect: How Devon Visualizes His Financial Future Navigating College and Military Life: Tuition, Benefits, and Budgeting Saving for Real Estate: Devon's Plan to Buy His First Home Mentorship and Networking: Building a Successful Career Path Practical Financial Tips for Young Adults and Military Members Intentional Living: Balancing Work, School, and Personal Goals Key Takeaways and Final Thoughts 🔗 Devon's Links and Resources Mentioned in the Show: Devon's Website: Freedom By the Day Liberated Mind Library Instagram Contact Devon via Email: [email protected]

In this episode: Roth IRA conversion ladder, starting with the end in mind, investing for growth or stability, and retirement planning. While we have covered Roth IRA Conversion Ladders on ChooseFI before, we have never in the past taken such a deep dive into the subject like we do in this week's episode! Once again, we are joined by friend of the show Cody Garrett from Measure Twice Money, as we cover a high-level-FI approach to the Roth IRA conversion ladder and ways one could approach propelling themselves into a FI fueled retirement! Cody Garrett: Website: Measure Twice Money YouTube: @MeasureTwiceMoney Resources Mentioned In Today’s Episode: Measure Twice Money ChooseFI Podcast Resources The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep. 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep. 163R Find Your Local ChooseFI Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: travel rewards, frugality, companion passes, international travel, intentional spending, and listener questions. This week Brad is re-joined by Ginger as together they go back to basics during our returning round-up segment! This time around, the pair will be talking about recent travels and hacks they’ve used, travel rewards tips, answering some community questions, and shouting out some of your FI wins of the week! This episode is a great way to crowd-source new tips for people just beginning their FI journey, from learning how to navigate companion passes when traveling, to learning how to both save and spend your money with intentionality! Resources Mentioned In Today’s Episode: Friday Roundup | Huge Announcement | ChooseFI Ep. 22R Travel Rewards ChooseFI Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep. 12 The True Cost Of Car Ownership | ChooseFI Ep. 22 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: travel rewards, IRA conversions, working with FAFSA, health insurance, and the FI journey. This week we are joined by community member and listener Connie to discuss the beginning of her FI journey, and the transformative steps she’s taken to further maximize her journey for her and her family. With so many resources available to learn and assist you while on the path to FI, the influx of information may seem overwhelming. Knowing how to organize the information will allow you to utilize the hacks and tricks that take some of the pressure off, and grant the opportunity for you to adapt and create the life you want!  Resources Mentioned In Today’s Episode: Abundo Wealth Advice-Only Network Nectarine Point.me Seats.aero PointsYeah The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238 Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney | ChooseFI Ep 447 Find Your Local ChooseFI Group The Courage to Take Action | EconoMe LIVE with Doc G | ChooseFI Ep 488 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: FI numbers, financial independence, approaching problems differently, and adjusting spending to accommodate FI. This week join our host Brad in celebrating 500 episodes of Choose FI, as he talks about the start of his FI journey, and highlights topics and episodes from the last few years. The path to FI isn’t just about simplifying your life, but empowering yourself and taking action to design and create the life you want to be living. And while the list is endless for how FI can improve your life, the community you find while on this journey is just as rewarding. Thank you to our listeners and supporters for being on this journey with us!  Resources Mentioned In Today’s Episode: “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins The Safe Withdrawal Rate Series The Side Hustle | The Unspoken Lever of FI | ChooseFI Ep 30 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: limiting beliefs, flipping the script, looking for evidence, empowering beliefs, and imposter syndrome. This week we are rejoined by Jessica from The Fioneers, to discuss the idea of limiting beliefs, from knowing how to identify and define them, to learning to work through and overcome them using her six strategy method. To put this method into practice we workshop two examples of limiting beliefs from FI community members, Samantha and Kyle. While having fears is natural and part of what makes us human, it’s important to be able to distinguish what fears are valid and what limiting beliefs are just holding you back. Whether it’s believing you’re not doing enough on your FI journey, or having a fear of failure, making sure you are continuously working to empower yourself and sift through the self doubt will ensure you live your life with more power and confidence!  The Fioneers: Website: thefioneers.com YouTube: @fioneers Free eMail Course: Overcoming Limiting Beliefs Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins “Wherever You Go There You Are: Time-Tested Principles To Get Unstuck, Expand Your Influence, and Illuminate Your World” by Kyle Collins Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile  

In this episode, exercise, sleep, nutrition, mind body activities, social relationships, heat and cold exposure. This week we are joined by Dr. Bobby DuBois author and host of Live Long and Well podcast, where we will be discussing health optimization and wellness by deep diving into each of what he calls the 6 pillars: Exercise, Sleep, Nutrition, Mind-Body Work, Heat and Cold Exposure, and Social Relationships, while also providing some actionable takeaways you can do in order to live your healthiest life! The best part of the FI journey is you can create and live the life the way you want, but neglecting your physical and mental health may not allow you to thrive the way you want as you inevitably age. Taking the time and the space to prioritize your health, whether it be big or small, can make such a difference over time, and can ensure you’ll be living long into your retirement and well after!  Dr. Bobby Dubois: Website: drbobbylivelongandwell.com Website: Madrone Springs Ranch Podcast: Live Long and Well with Dr. Bobby Resources Mentioned In Today’s Episode: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 The Matt Walker Podcast Yoga Nidra – Guided Meditation to Relax | 10min InsightTimer Deep Healing by davidji Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: full retirement age, earnings, spousal benefits, survivor benefits, filing for benefits, and the earnings test. This week, Mike Piper joins the show to talk all things social security and answer listener questions that arose from our last social security related conversation back in episode 474! Whether it is discussing the full retirement age, discussing when to file for benefits, and different situations and their correlating differing types of benefits, Brad and Mike cover your burning questions so when the time comes you can catapult yourself into retirement confident and comfortably. While the topic of social security can often be confusing, being informed and prepared based on you and your families situation can make approaching it a lot less formidable, so listen along now to be ready down the line when it is your time to file! Mike Piper: Website: opensocialsecurity.com Book: "Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less" by Mike Piper Resources Mentioned In Today’s Episode: Social Security Deep Dive | Denis Shapiro | ChooseFI Ep 474 SSA.tools Social Security Calculator Why Are ETFs (Sometimes) More Tax-Efficient Than Mutual Funds? Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: roth versus traditional IRA, second generation FI, FI and newlyweds, and retirement planning optimization. This week we are diving back into the listener Mail Bag with our returning guest Rachael Camp to answer questions from the community! Today we will be discussing the differences between Roth and Traditional IRAs and the future variables and factors you should consider, as well as discuss the new rules and considerations surrounding 529 plans and how to best financially plan when considering your children and your spouse. Listen along as YOU, the community, dictate the conversation with your hot-button FI questions!  Rachael Camp: Website: rachaelcampwealth.com Twitter: @camp_wealth YouTube: @CampWealth Instagram: @campwealth Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. Resources Mentioned In Today’s Episode: Mailbag: Spending Down to Zero, High Fee 401(k), Mini Retirements | Rachael Camp | ChooseFI Ep 485 Limits Of Tax Diversification And The Tax Alpha Of Roth Optimization Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy | ChooseFI Ep 476 Becoming Work Optional Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: real estate, lazy landlording, attracting the right tenants, finding ideal situations, and traveling. This week we are joined by returning guest James Lowery to discuss his “lazy landlord” concept to streamline and simplify real estate investing as well as set processes in place that not only make your life easier as a landlord but make it easy for your tenets as well! If you are on the FI journey and curious about adding real estate into your portfolio, whether it be long or short term rental properties, there are ways to make it a more simple process than you might think. With some planning and intentional action, the lazy landlording life could be well within your grasp! James Lowery: Website: rethinktheratrace.com eBook: Tenant Proof Your Property Resources Mentioned In Today’s Episode: Vegan Path To FI | ChooseFI Ep. 90 EconoME Conference “The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich” by Tim Ferris “The 4-Hour Body: An Uncommon Guide to Rapid Fat-Loss, Incredible Sex, and Becoming Superhuman” by Tim Ferris BiggerPockets James Lowery: How to Become a Lazy Landlord Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: financial freedom, starting your own business, you can't sprint forever, buying vs renting, and investing. This week we are rejoined by host of Financial Feminist podcast and creator of Her First 100K, Tori Dunlap, to fill us in on her journey with FI over the last few years, discuss what financial equity and the importance of building financial foundation and literacy among marginalized groups, as well as discuss how financial advice can differ for men and women. While money can be linked with stability and ease in one's life, the real power that comes from personal finance and independence is the freedom it allows you to not only change your life, but instill change in the communities around you. Although there can be times you feel guilt or shame when discussing financial literacy, there are endless resources at your disposal to educate and have you feeling confident. Tori Dunlap: Website: herfirst100k.com Book: “Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love” Podcast: Financial Feminist Instagram: @herfirst100k Where to Start: Her First 100k Quiz Resources Mentioned In Today’s Episode: Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 Marriage Kids and Money The Impact of Fees on Your Investment “The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life” by JL Collins RENTING VS. BUYING: WHAT’S RIGHT FOR ME? Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: doing everything but not at once, building your extraordinary life, optimizing your time, and what to do after FI. This week we are joined by Alan and Katie Donogan as well as my guest co-host Ginger live from the Design Your Extraordinary Life Weekend event in Las Vegas, where we will be discussing their exercise of envisioning what an extraordinary life can look like in designated areas of your life, as well as learning how identify and overcome limiting beliefs that can hold you back from achieving your dream life. Reaching your FI goal can radically change your life and usher in new freedom, but it doesn’t necessarily mean all your problems go away. While you may be focused on taking actionable steps to to hit your FI number, it's just as important to take actionable steps to build and create the life you want to be living! By taking account of certain areas of your life and identifying the areas and mindsets that need to be changed in order to achieve your extraordinary life, you will not only be on track to living your best life on your FI journey, but continuing to live it well after you reach the finish line! 9 Life Snapshot Categories (Explained here.) Love and Relationships Career or Business or Mission Finances Physical Environment Friends and Family Fun, Adventure and Passion Health and Wellness Personal Growth and Development Spirituality Alan and Katie Donegan: Website: alandonegan.com YouTube: The Donegans Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 EconoME Conference "The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living" by Ryan Holiday and Stephen Hanselman Viola and Dan’s YouTube Channel General Donegan update Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: RRTTLU, actual risk, actual return, balancing portfolios, understanding your timeline, taxes, and legal situations. This week we are joined by Jesse Cramer of the “Best Interest" blog and podcast to discuss “RRTTLLU”, an acronym that provides a framework and guide of some of the factors one should consider when they start investing. While investing on your own can seem complex with many factors to consider such as your risk tolerance, the potential tax liabilities, and returns; being realistic about what you want to get out of your investment and what timeline you are on will only ensure your success. Considering some of these factors before you start investing can help you to choose your investments smartly, and give you the confidence and self-assurance for when changes or uncertainties come and go!  Jesse Cramer: Website: bestinterest.blog Podcast: The Best Interest Podcast Resources Mentioned In Today’s Episode: Join ChooseFI’s Facebook Group! Investor Policy Statement | ChooseFI Ep 189 Bucket Your Money The Safe Withdrawal Rate Series “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Answering Your Questions on How to Access Money Before 59.5 | ChooseFI Ep 491 RRTTLLU: That’s Not a Typo, Investors Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: 72t, Roth 401k’s, Roth IRA’s, The Pro Rata Rule, PUQME, HSA’s, Retirement and Education, and Roth Conversions. In one of our faster update episodes ever, friend of the show Sean Mullaney re-joins Brad to follow up on the episode we published back in February, “How to Access Your Retirement Accounts Before 59.5,” as well answer some of the questions our community had around the subject. We in the FI community know that retiring is an option way sooner than we were originally led to believe, so listen along as Brad and Sean shed some light on ways you could potentially access your retirement savings before facing the edge of your golden years. Sean Mullaney: Website: fitaxguy.com Website: mullaneyfinancial.com Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideos Timestamps: 1:05 – Introduction 1:58 – Optimizing for 72t 10:25 – Roth Conversions and Premium Tax Credits 22:21 – Roth 401k and Roth IRA 27:08 – The Pro-Rata Rule 36:17 – PUQME and HSA’s 45:39 – Using Retirement Withdrawals for Education 50:40 – The Rule of 55 and Solo 401k’s 55:11 – Marriage and Taxes 61:32 – IRA and Health Insurance Premiums 64:13 – Conclusion Resources Mentioned In Today’s Episode: How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Forget About Money Podcast Accessing Retirement Accounts Prior To Age 59.5 Do You Have a Hidden Roth IRA? Retirement topics: Exceptions to tax on early distributions Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: events, community, travel rewards, medidations, mini retirements, travel wins, and travel points. This week we are back with friend of the pod Ginger to discuss a mixed bag of topics, such as attending FI events, travel rewards and companion passes, as well as the idea of a “mini” retirements and what that can look like while on the path to FI. However, this episode isn't titled "The Ultimate Random Show" for nothing, as we branch off in quite a few different directions as we cover those topics. As opposed to having us try and describe it for you, it may be best to go ahead and hit play so you can see for yourself! Timestamps: 0:47 – Introduction 1:42 – Events and Community 11:59 – Travel Rewards 21:41 – Meditation 24:46 – Brad’s Phoenix Trip 31:40 – What We Are Listening To/Mini Retirements 45:11 – Travel Points/Wins 51:32 – Conclusion Resources Mentioned In Today’s Episode: The Donegans Afford Anything EconoME Conference Insight Timer Mile High FI Coach Carson Mr. Money Mustache & Car Free Living at Culdesac | MHFI 207 Forget About Money How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Mindy On Money Retire Often Best Tools for Booking Hotels with Points & Miles with Greg the Frequent Miler Points Yeah Points.Me Seats.Aero Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: connecting points, the power of FU money, the early retirement era, and enjoying the journey. This week we are joined by returning guests, Steven and Lauren Keys from Trip of a Lifestyle, to update us on their FI journey and “early retirement era,” as well as discuss the importance of finding the courage and freedom to make radical lifestyle changes in the present. We all know that money can open up new opportunities in your life, whether it’s having the flexibility to leave your job for a better one or even relocating to a dream country, but most of us forget that these opportunities can be achieved sooner than you think! The journey to FI is about taking actionable steps to build and achieve the life you want, and you don’t have to wait until you’re fully retired to do it! While you’re starting to save and spend less, remember that you’re getting closer and closer to your goal, but even still that it’s not a poor decision to spend money on things that are important to you and can improve your life!  Trip of a Lifestyle: Website: tripofalifestyle.com Instagram: @tripofalifestyle Crambetter: crambetter.com Timestamps: 0:46 – Introduction 3:12 – Connecting Points 6:39 – Taking Money Out of the Equation 13:14 – The Power of FU Money 23:39 – Getting to The Early Retirement Era 33:27 – Investing 44:59 – Paying Yourself Last? 48:39 – Enjoying the Journey/Setting Yourself up for Success 58:13 – Conclusion Resources Mentioned In Today’s Episode: Trip of a Lifestyle to All US National Parks | ChooseFI Ep 226 We Took a 3-Month Vacation and Came Home $26,000 Richer How We Saved $100k in 2 Years on Teacher Salaries We Vacationed Our Way to $1 Million by Age 33 (and You Can Too) Inside the Investment Portfolio of Early Retirees Pay Yourself Last: Why You Don’t Need A Budget Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: courage from community, what to do next, overwhelm, finding community, and the evolution of FI. Live from the EconoMe Conference in Cincinati Ohio, Brad is joined by Jordan "Doc G" Grumet and a room full of passionate members of our community to discuss finding the courage to take action in your FI journey. While we understand money can be a north-star for many early in your venture towards FI, what happens once money is no longer the root of your goals? Where do you shift your focus to next? Well, sometimes finding answers to these questions is a little easier when you have help from some of your friends. Listen along as Jordan, Brad and our community speculate on their ideas for what their next steps are. Doc G: Website: earnandinvest.com Podcast: The Earn and Invest Podcast Timestamps: 0:41 - Introduction 1:41 - Courage From Community 7:40 - Roger and What To Do Next? 20:31 - Allison and Finding Community 30:15 - What/Where is the Overwhelm 34:49 - The Evolution of FI/Being The Change You Want To See 41:11 - Reconciling With Social Responsibilities 44:34 - Charitable Giving 47:21 - Interacting Outside of The Community 51:55 - Conclusion Resources Mentioned In Today’s Episode: Retire Often FI Freedom Retreat Mr Money Mustache CampFI FinCon "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Josh Overmeyer EconoMe Alan Donegan Find Your Local ChooseFI Group Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars | ChooseFI Ep 483 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: survivor benefit plans, VA benefits, VSO's disability benefits, tax planning, healthcare, and blended retirement systems. This week we are joined by Daniel Kopp, founder of Wise Stewardship Financial Planning, to outline ways you can best prepare for military retirement. Together we cover pensions, navigating the Survivor Benefit Plan and additional benefits, healthcare and disability resources, as well as other financial decisions you can consider as you begin to transition out of the military. When dealing with any kind of retirement planning, taking actionable steps to prepare and get a plan in place for you and your family is essential. While everyone's circumstances may be different as they transition out of the military, there are many resources available and benefit programs you are entitled to before and after you leave duty! Daniel Kopp, CFP Website: wisestewardshipfp.com Podcast: Military to Financial Planner Timestamps: 1:26 – Introduction 2:32 – Approaching Military Retirement/Blended Retirement System 9:38 – Military Benefits/Healthcare 15:36 – VA Benefits/Term Life Insurance 22:12 – Disability Benefits/VSO’s 30:17 – Survivor Benefit Plans 43:13 – SBP Contingencies and Child Coverage 50:41 – Tax Planning 56:26 – Conclusion Resources Mentioned In Today’s Episode: Blended Retirement VA education benefits for survivors and dependents Everything About The Military’s Survivor Benefit Plan SBP Financial Analysis Tools Daniel Kopp Estate Planning for Military Families | Military Money Manual Podcast Episode 83 Accredited VSO Representatives Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 “Military in Transition’s Guide to The Survivor Benefit Plan: Navigating the SBP” by Forrest Baumhover How VA Disability Compensation Affects Military Retirement Pay Income Tax and Rental Properties When You’re in the Military MFAA ChooseFI US Military Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: public service accounts, side hustles, making FI possible, frugality, giving yourself freedom, and side hustles. This week we are joined by Chris Travers, a New York City public school teacher and FI community member, to discuss his journey from being a natural saver to becoming a savvy investor, talk advantages and disadvantages of some of the retirement accounts provided to teachers, as well as discuss some ways he has been able to grow his net worth in the last 10 years. Frugality is a term that often comes up while on the FI path, and finding a balance of saving and spending is crucial to reaching your financial goals. Remember that where you decide to save and spend and how you do so will evolve throughout your FI journey! While it can be hard to cut costs of the things you enjoy in the present, being willing to cut out what you don’t need can set you up for success in the future!  Chris Travers: Book: “TL;DR: Financial Literacy for New York City Public School Teachers: Optimizing Financial Decisions Based On Your TRSNYC Benefits” by Christopher Tavers and Karl Fisch Instagram: @thewealthyeducator Timestamps: 0:54 – Introduction 6:47 – Public Service Accounts 11:38 – Diving Into FI 15:08 – Side Hustles/Making FI Possible 22:17 – Renting vs Buying 26:43 – Frugality and Loosening the Purse Strings 32:25 – Giving Yourself Freedom 37:53 – Conclusion Resources Mentioned In Today’s Episode: Join ChooseFI’s Facebook Group! “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J. Stanley and William D. Danko “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki “Smart Couples Finish Rich, Revised and Updated: 9 Steps to Creating a Rich Future for You and Your Partner” by David Bach The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep 13 The Happy Body Millennial Revolution Karl Fisch Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: spending down to zero, the ratcheting rule, the guardrails approach, high fee 401k's, and mini-retirements. This week we are diving back into the listener mailbag with Rachael Camp to address the pressing questions our community has! Whether it's curiosity towards the concept of dying with zero, determining whether it is a good time to take a mini-retirement, or working with high-fee 401k's, Brad and Rachael tackle it all! Listen along as YOU the community dictate the conversation with your hot button FI questions! Rachael Camp: Website: www.rachaelcampwealth.com Twitter: @camp_wealth Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. Timestamps: 0:55 – Introduction 1:38 – Spending Down to Zero 10:15 – The Ratcheting Rule and The Guard Rails Approach 20:38 – Flexible Spending Strategy 27:01 – Does Everything Need to be Optimized? 31:15 – High Fee 401k’s 41:48 – Mini Retirement Considerations 49:54 – Roth IRA Contributions and Faze Out Limits 55:57 – Conclusion Resources Mentioned In Today’s Episode: “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts” by Annie Duke The Ratcheting Safe Withdrawal Rate – A More Dominant Version Of The 4% Rule? The guardrails approach is a flexible retirement withdrawal strategy: Here’s how it works Early Retirement Now The Problem with the 4% Rule (and Why You Could Retire Even Sooner) The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire Often Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: wants vs needs, side hustles, tax planning, college hacking, travel rewards, mindset, and living your values. This week we are joined by Joel and Emily Allen, a married couple with children based out of Iowa who truly embody what the FI movement is all about! Not only have they seized control of their life and finances, but have also managed to start a successful side hustle, provide incredible resources to the community around them, travel the world, and so much more! While the FI movement is about financially freeing yourself and your family, it is also important to remember why we want that freedom. Not stressing about money is just one piece of a fulfilling life, once you have that freedom, take advantage of it like the Allen’s have! Timestamps: 1:25 – Introduction/The FI Mindset 9:02 – Budgeting/Wants and Needs 14:59 – Side Hustles 21:02 – Financial Literacy to FI 23:29 – Tax Planning/Travel Rewards 29:11 – College Hacking 42:05 – Living Your Values and Taking Time Off 48:39 – The Importance of Knowing the Rules 53:48 – Traveling Like a Pro 69:25 – Conclusion Resources Mentioned In Today’s Episode: Dave Ramsey Travel Rewards | ChooseFI Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 The 10 Pillars Of FI Modern States The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 All the Hacks Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

In this episode: building a giving framework, the giving pledge, compound impact, donor advised funds, and different ways to give. Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the life of others. While navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! There are many resources available that can help calculate what you can give while remaining on the FI track, as well as help you see how your donations are making a difference!  Rebecca Herbst & Jack Lewars: Yield and Spread: yieldandspread.org Rebecca’s Coaching Program: Coaching for do-gooders 1 For The World: 1fortheworld.org Jack’s LinkedIn: Jack Lewars Timestamps: 1:37 – Introduction 4:24 – The Giving Pledge 11:59 – Building A Framework And Effective Giving 23:20 – Should You Get To FI Before You Give? 33:12 – Compound Impact 39:48 – Feedback From Giving And Fun Funds 51:08 – Different Ways To Give 61:09 – Donating Appreciated Stocks 66:59 – Conclusion Resources Mentioned In Today’s Episode: Join Your Local ChooseFI Group “The Life You Can Save: How to do your part to end world poverty” by Peter Singer School of Hard Knocks “Practical Ethics” by Peter Singer GiveWell The Life You Can Save “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins Yield & Spread’s DAF Series “Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back” by William MacAskill Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: salesforce, lifestyle design, testimonials and verification, the hidden job market, and talentstacking. Once again joined by friend of the show Bradley Rice, the owner and creator of TalentStacker, to update us on the value of SalesForce and career pivoting in 2024. While on the FI journey, you are actively creating the life you want to live. For many that means transitioning out of their life-long careers and opting for ones that offer something different and more accustomed to the life you’re creating. Learning a new skill or starting a side hustle can be the first step to finding that new career, and finding a program that works for you should offer more than just a certification, but assist you in finding new opportunities and a community that supports you! Bradley Rice: Website: talentstacker.com Facebook: Salesforce for Everyone Salesforce 5 Day Challenge: Take the FREE 5-Day Challenge Podcast: Salesforce for Everyone Timestamps: 1:38 – Introduction 4:17 – Work, Lifestyle Design, and Talentstacking 10:15 – Testimonials, Doing Your Research, and Verification 14:55 – The Hidden Job Market 19:36 – Entering a Salesforce Career with Talentstacker 26:39 – Salesforce Security 32:25 – Conclusion Resources Mentioned In Today’s Episode: The Hidden Job Market | ChooseFI Ep 379 CampFI Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117 Trailhead Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: caregiving and FI, retirement planning, reverse mortgages, long-term care, and long-term care insurance. This week we are joined by Danielle Miura to discuss how her experience as a caregiver has impacted her FI mindset, as well as answer listener questions pertaining to planning for your own long-term care while on the path to FI. As you and your loved ones get older, it’s important to start considering what additional finances they may require. From long-term healthcare to assisted living, there are many factors that not only impact their life financially, but could impact you and your FI plans. While it may be uncomfortable to have conversations with loved ones about their finances and expenses, it is imperative to have these discussions early and create a plan that works for you and your family. Danielle Miura: Website: spark-fin.com LinkedIn: Danielle Miura Twitter: @Daniellemiula Timestamps: 1:19 – Introduction 2:22 – Caregiving and FI 7:28 – Dealing With Poor Retirement Planning 15:38 – Reverse Mortgages and Viability of Selling The Home 21:41 – Having The Uncomfortable Conversation 24:40 – Planning For Your Final Years 32:41 – Long-Term Care and FI 36:10 – Long Term Care Insurance 45:30 – Conclusion Resources Mentioned In Today’s Episode: Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: optimized exercise, recovering, machine use, increasing your healthspan, and long-term thinking. This week we are joined by Brad’s friend and personal trainer, Dean Turner, to discuss the changing landscape of strength training, and how principles such as consistency and adherence coupled with rest and recovery can also be applied to both your fitness and FI journey. We often talk about how the path to FI is not just about working towards a monetary goal, but rather creating a better life for yourself. For some this can mean taking a personal account of your health, and taking actionable steps to improve it. Just as making financial changes requires consistency, making physical changes requires the same. While these changes don’t happen overnight, these actions continuously build off of one another and make you stronger! Dean Turner: Twitter: @DeanTTraining Website: deanturnertraining.com Timestamps: 2:30 - Introduction 3:41 - Optimized Exercise 9:13 - Recovering and Machine Use 20:51 - Increasing Your Healthspan 27:44 - Long-Term Thinking 29:48 - Conclusion Resources Mentioned In Today’s Episode: Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419 The New Science of Muscle James Clear, Atomic Habits — Simple Strategies for Building (and Breaking) Habits, Questions for Personal Mastery and Growth, Tactics for Writing and Launching a Mega-Bestseller, Finding Leverage, and More (#648) Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life. This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it’s also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.  Mile High FI: Podcast: milehighfi.com Newsletter: Join the Mile High FI Club Timestamps: 1:13 - Introduction 2:41 - Analyzing Finances In Your 20s 9:31 - Compounding Power 13:25 - The Boring Middle 21:01 - FI Role Models 26:41 - Building A Life On The Journey 35:01 - Fat FI 45:37 - Saving Versus Life Enhancement 54:21 - FI Checkpoints 57:52 - Conclusion Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 Mr Money Mustache JL Collins "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 The Stages and Checkpoints of FI | ChooseFI Ep 324 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: buy and hold, macroeconomics, interest rates, bond investing, when to sell, mindset, and thinking differently. This week we are joined once again by friend of the show Brian Feroldi to discuss the stock market and investing as we head into 2024. As most of you know by now, keeping your head down and staying the course is a pretty typical investing strategy in the FI community, but it is important to remember personal finance is personal. Depending on your situation, life may require you to mold that strategy into something else as your mindset and seasons of life change! Make sure your are not only optimizing your financial situation, but also your life in the process! Brian Feroldi: Website: stockinvesting.school Website: longtermmindset.co Twitter: @BrianFeroldi LinkedIn: Brian Feroldi Timestamps: 0:33 - Introduction 3:42 - Buy and Hold 8:36 - "Macroeconomics" 15:17 - The Impact of Interest Rates/ Bond Investing 20:36 - High Yield Savings Accounts 27:18 - 2024 Investing 33:19 - When to Sell 38:05 - The Evolution of Your Mindset 43:40 - Thinking Differently 47:52 - VTSAX 51:21 - Conclusion Resources Mentioned In Today’s Episode: The Motley Fool "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194 Risk Parity Radio "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails. Ginger joins the podcast this week for a special “Hot Seat” episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it’s incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn’t about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.  Timestamps: 1:45 – Introduction 2:29 – Ashley and Atomic Habits 10:17 – Tyler and Opportunity Cost 19:09 – Amanda and Mental Wellbeing 25:17 – Caesar and PSLF Forgiveness 30:56 – Aaron, House Hacking, and DIY 37:17 – Ginger Takes The Hot Seat 59:33 – Brad Takes The Hot Seat 76:19 – Conclusion Resources Mentioned In Today’s Episode: “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear Atomic Habits | James Clear | ChooseFI Ep 157 “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Just Keep Buying: Proven ways to save money and build your wealth” by Nick Maggiulli BitWarden “The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence Williams I Will Teach You To Be Rich Book your custom student loan plan “Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi Risk Parity Radio “Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt Walker The Matt Walker Podcast Peter Attia Ginger’s New Sheets My First Million Podcast Prof G Show Pivot Podcast Todoist Dean Turner Training Send Us A Voicemail Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate. This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren’t in place. While death can be an uncomfortable topic to think about, it’s important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy’s story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it’s uncomfortable. Timestamps: 1:23 - Introduction 2:45 - Amy's FI Journey 9:03 - Income Planning and FI 17:24 - What Follows Tragedy 28:33 - The Importance of Wills and Beneficiary Designation 36:23 - Preparing in Advance and Considering The Possibility 44:27 - Immediate Access and The Ancillary Things 48:15 - Probate 59:09 - Setting Up Your Estate 65:09 - Conclusion Resources Mentioned In Today’s Episode: The Shockingly Simple Math Behind Early Retirement Intestate Succession The Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI") Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55. This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold. The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Sean Mullaney: Website: fitaxguy.com Website: Mullaney Financial and Tax Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideos FIRE in Vegas: Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City. Timestamps: 0:47 - Introduction 3:39 - Taxable Accounts 19:03 - Inherited Retirement Accounts 25:30 - The Rule of 55 28:39 - 457B's 30:46 - Roth IRA Conversion Ladder 39:12 - The 72(T) 54:52 - Paying the Penalty 57:25 - Conclusion Resources Mentioned In Today’s Episode: Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire On 72(T) Payments 72(t) Payments in Google Sheets Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: social security, disability, calculating social security, claiming social security, and due diligence. This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don’t consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.  Denis Shapiro: Website: fsadvocates.com Timestamps: 1:16 - Introduction 5:10 - What Pays for Social Security? 11:13 - Social Security and FI/Disability Insurance 17:30 - What Earnings Go Towards Social Security? 23:19 - Disability, Work Subsidies, and Income Related Work Expense 29:03 - How Social Security Benefits Are Calculated 37:05 - Claiming Social Security 39:59 - Social Security and Medicare 44:28 - Social Security and Due Diligence 56:27 - Working and Disability Benefits 59:59 - Conclusion Resources Mentioned In Today’s Episode: SSA.gov Social Security Fact Sheet Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)