Dividend investing has been a hotly debated topic in the FI community. Brad and Jonathan dive into the details of dividend investing with Craig from Retire Before Dad. For more information, visit the show notes at https://choosefi.com/122 

Brad and Jonathan sleep habits, energy efficiency, and the best ways to land a job with Chris Hutchins from Grove. For details, visit the show notes at https://ChooseFI.com/121R 

Angela from Tread Lightly Retire Early has been an active member of the ChooseFI community for around two years. She has built a life that combines FIRE with sustainability. Additionally, she is a leader that recognizes the women in the FIRE movement. Brad and Jonathan learn about Angela's journey and practical sustainability advice that could help the FI community. For more information, visit the show notes at https://ChooseFI.com/121 

Jonathan and Brad discuss wielding the flexibility of money, how to move to the upper end of your salary range, and hunting with eagles in Mongolia. For more information, visit the show notes at https://ChooseFI.com/120R 

Jean Chatzky is a well-respected figure in the personal finance community. The financial editor of the NBC Today Show and author of several books is recognized for a specialized understanding of the relationship between women and their money.  However, both men and women can learn something for Chatzky's insights. On today's episode, Brad and Johnathan will delve into the relationships that each of us has with money. For more information, visit the show notes at https://ChooseFI.com/120 

Jonathan and Brad discuss their favorite books from 2018, negotiating from a position of power, career hacking, and what they would do differently if they were recording episode 1 today. For more information, visit the show notes at https://ChooseFI.com/119R 

Mr. Refined from Refined by Fire has overcome a staggering amount of debt that accumulated from student loans and medical bills. After finding the FI community, he was able to triple his net worth! Mr. Refined talks openly about his debt, how he negotiated his way out of debt, and why he is pursuing FI. For more information, visit the show notes at https://ChooseFI.com/119

Talent stacking, becoming a renaissance man, and financial infidelity: We recap Monday's show and highlight some listener comments. For more information, visit the show notes at  https://ChooseFI.com/118R 

118 | Talaat McNeely from His and Her Money talks about how his money mistakes led to financial infidelity. Most importantly, he shares how he was able to rebuild trust with his wife Tai and successfully work towards common financial goals together. Through Talaat and Tai’s story, you will learn practical ways to build the financial trust that many couples hope to achieve. For more information, visit the show notes at https://choosefi.com/118 

Brad and Jonathan discuss "the Kleenex" of low-cost mutual funds, Bradley Rice's story about choosing to move towards part-time work, and make an announcement about a new voice on the podcast. For more information, visit the show notes at https://choosefi.com/117R 

Bradley Rice has successfully reclaimed the hours in his day by transitioning to part-time work. He made this unconventional choice to take back his time when his daughter was born to spend more time with her. Bradley works 20 hours a week, while still earning a high salary. Bradley openly talks about the path that allowed him to reclaim his time and how you can recreate a similar journey. We All Have Choices Along The Way Each of us makes different choices throughout our lives. We do so hoping to march closer to our long-term goals. Everyone has to make choices that align with their values, so each person’s journey will be different. Having a high paying job certainly helps you reach your FI goals, but if it's taking away time from your life, you may question its true value. In Bradley’s opinion, time is our most valuable resource because it truly is finite. Many of us would prefer to use that time to enjoy the important things in life, like our family. The pressure becomes especially noticeable if you have young kids because the time you have to spend with them while they are young is limited. Even if you agree that that time is your most valuable resource, you may feel trapped in the mindset that there is no way to earn your current income while transitioning to part-time work. Caught between the fact that you have to work to provide for your family and the need to spend more time with them, the dilemma continues to grow more real every day. Our guest, Bradley Rice, was faced with the same dilemma when he had his daughter. He knew that he didn't want to continue working full-time while his daughter was growing up. He needed to find a way to spend more time with her during her childhood. Bradley was able to make the switch to part-time and maintain a high salary in the process. It was an unconventional choice, but it worked out exceptionally well for his family. Let’s dive into his inspiring story! For more information, visit the show notes at https://ChooseFI.com/117 

Karen Hoxmeier joins the show to share how and why she built a coupon-sharing website, Brad and Jonathan talk about optimizing food, taxes and home insurance, and a review of Monday’s episode with Wendy Mays.     Brad and Jonathan are excited about a chicken shawarma recipe they hope Laura will add to the ChooseFI Vault soon. Wendy, from Monday’s episode, tackled her family’s grocery bill when she started pursuing financial independence. Food shouldn’t just be cheap; it should also be good. What is Brad’s strategy for decreasing his phone usage and dependence? For taxes, what matters the most is your tax liability, not your tax withholding. While tax refunds are currently decreasing in the U.S., that’s actually because the withholding tables have changed and people are sending less extra money to the government throughout the year. Estimating your taxes throughout the year so that your tax return is about $100 is pretty extreme tax optimization, but a minimal tax return means you’ve had access to all your money for saving and investing throughout the year, instead of loaning it to the government. Brad signed a contract to install solar panels on his house and paid half the cost, then realized that he hadn’t contacted his home insurance company. Wendy tackled one thing at a time, optimizing a little bit at a time, until she was saving her family $6,000 a month, without a significant decrease in lifestyle. Spend money on what brings your life value, then cut everything else ruthlessly. ChooseFI community member Karen Hoxmeier joins the show: Karen worked in a wide variety of jobs in her youth and early adulthood, until becoming a stay-at-home mom in 1994. In 1999 Karen started sharing coupon deals with friends, via email, until that became too taxing, and she decided to build a website. How did Karen learn html code to build her website? Karen realized she could start making money from her website when she discovered Amazon’s affiliate program. Karen’s advice for someone who wants to make money blogging: Make content that is valuable Set up an email list Treat your customers like they’re your friends If you’re interested in an affiliate relationship, Karen recommends starting a conversation with a representative from the company. Companies are often willing to pay a higher commission to advertise or link with blogs or websites that will provide high-quality leads.   For more information, visit the show notes at  https://ChooseFI.com/116R 

116 | Wendy Mays, from House of FI, tells the story of growing her family from 4 to 8 through adoption all while moving states and changing careers, and ultimately kickstarting her family’s pursuit of financial independence.   Wendy and her family first learned about financial independence about 4 years ago. Wendy was commuting from Phoenix, Az., to San Diego, Ca., as her husband was living in California in pursuit of a new teaching job. Wendy now has a family of six children, four of whom are adopted. During her husband’s job search Wendy’s law practice in Phoenix was the family’s primary income, so she made significant changes to balance keeping her job with the family’s logistical challenges, including a shift in the type of legal work she did. In the midst of this hectic commuting lifestyle, Wendy and her husband finalized the adoption of three of their children, including a 4-day-old baby. Once the adoptions finalized, Wendy finally moved fully to San Diego. In March 2017, Wendy started adjusting their financial lifestyle to begin pursuing financial independence. First step was understanding where their money was really going. Wendy dropped her average food/grocery expenses from about $3,500 to about $1,000. By eliminating a few unnecessary big-ticket items, and optimizing smaller expenses, Wendy cut about $6,000 from their monthly expenses. Beginning in 2018, Wendy’s husband maxed out his savings and retirements accounts, increasing their family savings rate to about 28%. In October 2018, Wendy transitioned from legal work in Phoenix to real estate in San Diego. Having a large family impacts Wendy’s financial commitments: Larger housing expenses Larger vehicles – a Suburban Bigger clothing expenses Financially reasonable family activities require creativity. Currently, Wendy’s family is on a 7-year path to financial independence. Making these changes has been really challenging for Wendy, but tracking progress and looking back is encouraging. There are several different types of adoption Domestic private adoption – using courts, lawyers, very expensive Private international adoption – using courts, lawyers, very expensive Adoption via foster care – usually low cost After adopting through foster care, there are ongoing financial assistance programs that help Wendy and her husband to offset the costs associated with raising adopted children. Wendy is hopeful she might pay off her student loan debt in 5 years.   For more information, visit the show notes at https://ChooseFI.com/116 

115R | A how-to conversation about strategies for tackling consumer debt, a review of Monday’s episode with Bonnie Traux, and a few updates about the ChooseFI community.     Brad’s wife no longer working as a CPA – although she was technically laid off, she’s excited for the extra time in her schedule. Being at FI gave Laura the ability to be happy for her previous employer and move on with a smile. Bonnie Traux, from Monday’s episode, is an ultimate side hustler. If you’re stuck, you’ll have to do something different if you want a different result. Bonnie reached financial independence in about 13 years. Before starting to save, Bonnie spent years paying down consumer debt as her husband was continuing to build it. The journey towards financial independence doesn’t start at zero – it often starts with tackling debt. How to tackle debt Use account-tracking software - examples: Mint.com, YNAB (You Need A Budget), or even Excel or a pen and paper. Know what’s coming in, and what’s going out. List out all the debts you have, their payments and interest rates. Reasonable interest rates are somewhere near or below 6%. The Debt Snowball – take all your debts and organize them from smallest balance to largest. Continue making minimum payments for all debts, and commit any extra to paying off the smallest debt. When it’s paid off, roll that payment into paying off the next smallest. The Debt Snowball is a psychological win, but ignores interest rates. The Avalanche – the interest rate is the most important thing. Always pay toward the balance with the highest interest rate. The Hybrid Method – combine these two strategies to pay off a few smaller debts at first, then commit to paying toward the highest interest debt. You could earn more – start a side hustle, work a little extra A no-spend month Optimize regular monthly expenses A credit card balance transfer Consolidating debt Part 1: Know where to find your account information Part 2: Acknowledging that you can’t afford debt. Part 3: Debt Payoff Strategy Part 4: Creating the Margin     For more information, visit the show notes at https://ChooseFI.com/115R 

115 | Bonnie Truax, a blogger and early retiree, shares her story of growing up below the poverty line, scraping her way out of inherited debt, reaching financial independence without knowing what it was, and understanding how to talk about money with your spouse. Bonnie grew up with family income that was technically half of the poverty level, but always debt free. In a town of only 35 people, W2 jobs were hard to come by, so Bonnie worked any odd job that she could find – mowing lawns, decorating cakes, roofing. What did Bonnie do with the income from her side hustles? Bonnie got married shortly after college and inherited significant debt. The first step to getting out of that debt, was learning spreadsheets and prioritizing which debt she would tackle first. Bonnie was managing thousands of dollars of debt and got back to broke, even as her spouse was actively spending and maxing out credit cards. What is Bonnie’s financial advice for people before they get married? Financial literacy isn’t distributed evenly throughout the country – not everyone understands how to manage finances. Not everyone is comfortable talking about money, even with their spouse. If Bonnie could do it again, she would start by talking about fears associated with money. When Bonnie started over she was 30, earning about $25k. Bonnie learned IT with her free time at a reporting job, eventually becoming the manager of an IT team. Before she got remarried, Bonnie and Trin had become very close friends at work and had already talked about finances, so she was confident about their joint approach to money as a couple. Trouble doesn’t have to be a disaster. Getting out of debt on a low income is possible – you shouldn’t have to eat rice and beans your whole life, but if you’re getting out of debt, you might have to them for a while. Bonnie and her husband automated their finances and didn’t give much attention them; they found a comfortable way to live regardless of their increasing incomes. Bonnie didn’t plan to retire, but when work became toxic, their savings gave them the freedom to leave work. Instead of just leaving money in their savings account, Bonnie and her husband began purchasing foreclosed home and renting them out. Without a knowledge of the financial independence community, how did Bonnie determine that she and her husband were financially ready to leave their jobs to retire? Bonnie and Trin are traveling the world for a few years before they decide where to retire abroad. It’s never too late to make tomorrow better. Anything that comes into Bonnie’s blog goes to support a safehouse in Ecuador. Fear of missing out is just an excuse; you are always choosing what you miss out on.   For more information, visit the show notes at https://ChooseFI.com/115 

114R | Brian Eufinger returns to fill the gaps and address questions from the community about PSATs and National Merit Scholars, Brad and Jonathan discuss the benefits of creating a college-hacking strategy early, and the ChooseFI community responds to Monday’s episode. Financial independence is generally about knowing the rules and making decisions according to what you value in life. Many colleges use an equation to award merit aid --> a specific GPA + a specific test scores = a certain amount of merit aid. With a better strategy to studying for the SAT or ACT, even a small bump could save someone tens or hundreds of thousands of dollars. Is it better to get a summer job, or spend the summer studying for the SAT/ACT? With the Common Application, it’s beneficial to apply to a few extra schools because the merit aid packages available are hugely varied. Just being aware of the rules gives you the best opportunities to succeed, and to opens up as many options as possible. How has Brad’s mindset toward paying for college changed during the past two years of ChooseFI interviews? A message from Paul in the Facebook group, who appreciated that Brian presented college scholarships with a realistic perspective about the challenges. A comment from Rayanne, who shares the process her daughter is navigating as a graduating senior in California, looking for the best scholarship opportunities. Lynn is grateful for Brian’s realistic suggestion that students don’t start studying for the SAT until the end of their sophomore year; in New Jersey even sixth graders are being asked to consider future standardized tests. Julie messaged to remind parents that students should also study for the PSAT, as the PSAT is what determines a student’s National Merit standing. Brian Eufinger, from Monday’s episode, returns to talk about the PSAT and National Merit Scholars: CLEP credits and dual enrollment are good options for high school and current college students. Academic Common Market – in some states, students can pay in-state costs at an out-of-state school if they’re majoring in a subject unavailable in-state. Making a college-transfer strategy early will help students transfer from a community college to a four-year institution without any hiccups. “There’s no greater financial aid than finishing in four years.” Bringing AP credits into college gives a student more flexibility to change majors, study abroad, work internships or co-ops, or study for post-grad tests. In rural areas that don’t offer as many AP courses, many states offer online AP courses. The reward for being a National Merit Scholar varies widely between universities, but can be as much as a full ride, books, etc. PSAT is offered in sophomore and junior year. If your sophomore student scores higher than 1300 on a PSAT, it’s a disservice to not study for the PSAT in their junior year. Only 50,000 students get National Merit status: Top 16,000 students are awarded “semi-finalist” status Next 34,000 get “commended” status Many campuses offer cash for participating in graduate research projects. Being a Resident Advisor (RA) at most schools earns you free room and board, which can be as much as $20k a year. Becoming an RA is typically competitive, so start planning your application earlier. Being an RA is potentially the biggest scholarship you can get. The financial independence group in Scandinavia just surpassed 1,000 members. The Houston ChooseFI Local Group is hosting Alan Donegan from the Pop Up Business School, along with the San Diego and Los Angeles local groups. Jonathan will join the Washington, D.C., Local Group for a meet up soon.   For more information, visit the show notes at https://ChooseFI.com/114R 

114 | Brian Eufinger, co-founder of Edison Prep, dives deep into the college admissions process and explains how a student should approach grades and test scores to give themselves the best college options, and how to pay for college without collecting a huge student loan debt.   Most merit aid that students earn comes directly from the university. Brian attended Washington University in St. Louis, earning about 2/3 merit scholarship and pieced together other scholarships and on-campus jobs to pay for his education. Many states or schools give merit scholarships for students who earn high test scores and high grades. Brian is surprised by the vast differences in aid packages among schools with similar academic profiles. Many schools will offer a few high school classes in the 8th grade year. Brian’s advice for helping students get into the best college and find the best merit aid is to sign up for challenging classes, starting in middle school if you can, earn the highest GPA possible, and find a few extracurricular activities you are passionate about. A super high SAT score will not offset a bad GPA; you can repeat a test, but not a class from 9th grade. The Common Application has made it more difficult for universities to evaluate an overwhelming number of applications, which is why a students’ numbers are so important when admissions officers are making initial evaluations. Grade inflation makes it difficult to understand GPAs; your student just needs to stand out among their school peers. Earning a “C” in their junior years is one of the bigger mistakes a student can make. The No. 1 academic risk for high school students is over committing to extracurricular activities, including sports, when they should be focusing on academics. Division I schools are able to give out athletic scholarships, while Division 3 schools typically don’t offer athletic aid. However, there are still options for earning scholarships at Division 3 schools for student-athletes. Merit aid is based on evaluation of your grades, test scores, application, etc. Need-based financial aid is based on perceived financial need. Students don't need 1,000 hours to study for SAT/ACT tests; if they treated tests like a sport for one season, they would have all the hours they need. The perfect time to start studying is after sophomore year, before junior year is complete. Sophomores should make sure to take a full-length practice test, created by the actual test makers, to determine whether they’ll be more successful on the ACT or SAT. It’s better to focus on one test than to try to be good at two. Practice is crucial. The best calculator for these tests is the TI-84 Plus CE, followed by a TI-84 and TI-83. It’s best to find a local tutoring company, with a small number of employees, that hires full-time professional tutors.   For more information, visit the show notes at https://www.choosefi.com/114 

113R | Tanja Hester retired early 15 months ago and joins the show to share her experience of being work optional, Brad makes a decision about solar panels, and a review of Monday’s episode with Grant Sabatier.   Brad shares some updates with his car malfunctions and follows up about his solar panel cost analysis. Brad anticipates a 9.6% return on his solar panel investment, compared to Brian’s 12.5% return in Rhode Island. Solar panels are expected to last for about 25 years. Message from Dan, who realized while listening to Monday’s episode with Grant Sabatier, that he is charging too little for his side hustle work, and paying too much in taxes. Sales is story telling – Grant figured out how to tell his story right and understand potential client’s needs. A message from Ben, who feels like building relationships with recruiters is more likely to get you job options that is $10-15k, compared to the $60-80k Grant mentioned. You’re unlikely to get a big pay bump by staying with the same company; getting a significant jump usually requires moving jobs. Maybe you don’t need a budget, but you do need to know what your life costs. Tanja Hester, author of Work Optional, joins the show: How did Tanja change from wanting to stick with her career forever, to choosing early retirement? Took Tanja and her husband about 6 years to reach early retirement. It’s hard to know your “why of FI”, but moving into early retirement requires some life planning. After 15 months, is early retirement meeting Tanja’s expectations? Whether you’re retiring at 45 or 65, the transition is still very similar; we all have a desire to matter and contribute. What are Tanja and Mark pursuing now that allows them to contribute? What things should people be considering in order to make their retirement plan bullet proof? A variety of different retirement options, aside from full retirement. One-phase or two-phase retirement – should you plan differently for your expenses and savings before and after the traditional retirement age? Does 25x and/or 4% work for you? When and how to cut your spending? It’s always better to over save. Tanja’s FI calculations don’t include social security, as there’s a possible it could change. Most retirees spend about $300k on medical expenses, beyond Medicare. For more information, visit the show notes at https://ChooseFI.com/113R

113 | Grant Sabatier from Millennial Money and author of Financial Freedom, shares his story of unemployment and entrepreneurship, and his strategies for increasing your income and optimizing your finances. In 2010, with a college degree in philosophy Grant had been laid off twice and found himself living at home as 24-year-old. Grant sent out more than 200 resumes without a single callback before he found the information he needed to start learning Google Ad campaigns. The certification process took about 30 days and he received a job offer almost immediately. The first step to getting out of a rut is being honest enough to admit that you’re stuck. Most people are only 2 or 3 steps away from a life that they’d love. A million dollars could be 10 years away; just take the next step. When Grant looked at all his friends and his parents’ friends, they were stressed about money so he decided to learn how to do it differently. Grant learned how to build Wordpress websites and began selling his services to law firms, quickly securing large contracts at lower prices than large agencies. Grant’s first client became his most valuable client because he served as a credible reference for more than a year. How does Grant recommend getting your first client? What matters is helping your client look good to their boss. Selling is story telling – who you are as a person is more important that what you’re selling. The paradox of the gig economy is that many people are actually less flexible and more stressed about getting their next client than they would be working a 9-5. Whether you’re happy with your current job or not, optimizing your finances through your full-time job is where you need to start. Talking to recruiters in your particular industry will give insight into the direction the industry is moving, what parts of your resume might be lacking, and the market value of your work. How does Grant maintain relationships with recruiters? Face-to-face meetings Taking people out to lunch Form an actual relationship, don’t just try to get something from them. For Grant, forcing someone into a budget that cuts out small things like wine and coffee just reinforces a scarcity mindset. The only way to get from a 5% to a 30% savings rate is to decrease your housing, transportation and food costs. There is a limit to how much someone can cut back, but making money is unlimited. Grant invested 100% of his side hustle income. For more information, visit the show notes at https://ChooseFI.com/113 

112R | An evaluation of the long-term savings that result from driving old cars, a review of how Naseema McElroy has optimized her finances and reversed lifestyle creep, and a series of voicemails and messages from the ChooseFI community. For more information, visit the show notes at https://choosefi.com/112R 

112 | Naseema McElroy, a registered and practicing nurse and blogger at Financially Intentional, explains how to accumulate $1 million in debt, and how she earned her freedom through financial independence. How does someone accumulate $1 million of debt? Naseema is from West Oakland, Ca., where she was taught to either join the military or go to college. She attended the University of Southern California for both her undergraduate and graduate degree, then later completed an accelerated nursing certification program at the University of California in San Francisco. Floor nurses where Naseema works earn above $200,000. How could Naseema have been significantly more efficient with her college education? Many nurses have two jobs: Naseema works part time with benefits (three eight-hour shifts), and a per diem job (two 12-hour shifts) without benefits, at a higher pay rate. Even after finishing her education and working full time, Naseema accumulated more than $1 million in debt, and was living paycheck to paycheck. Most of her debt was student loans and Bay-Area mortgage costs. What inspired Naseema to move from a 5002ft apartment closer to the city into a 40002ft home in the suburbs? Even with the house and the car and the seemingly perfect set up, Naseema did not feel secure, and even owed her family money. Dave Ramsey set Naseema on the course to pay off her debt. What was her first step? Once Naseema began tracking her expenses, she was an early user of Dave Ramsey’s Every Dollar app. A zero-base budget is projecting how much you’ll earn and set aside how much is intended for paying off debt, then adjust the remaining numbers to reflect other obligations and other adjustable expenses. What inspired Naseema to begin blogging at Financially Intentional? Before Naseema sold her suburban house, she had already paid $300k of debt. Naseema chose to leave one of her jobs when it became an unhealthy environment, because living debt-free gave her the room in her budget to do so. Currently, Naseema has moved out of the Bay Area and commutes back into the city 6 days a month for work. Building wealth is a mindset. You have everything it takes to be successful.   Links: Clever Girl Finance The Stock Series For more information, visit the show notes at https://ChooseFI.com/112 

111R | Jillian from Montana Money Adventures gives advice for laying out roadmap in your life, right after and Brad and Jonathan review Monday’s episode and highlight activities from several local groups around the globe.   Brad and Jonathan reflect on last week’s episode with Billy Banholzer. A video inspires Brad to learn swimming from his daughter. Your current behavior or mistake doesn’t have to define you for the rest of your life. One of the first steps to Billy’s success was setting goals. What are Brad’s suggestions for developing into a better writer? Billy found ChooseFI while he was looking for a community of people who were pursuing the same things he wanted to pursue. Getting started on the path to financial independence can be really hard at first, but it gets easier as you move further down the path. Brad shares excitement about a local meet up and changes people are making locally. Highlight reel of local group activities: Combined Southern California and San Diego groups have a sold-out meeting where Jillian from Montana Money Adventures will speak. The Nebraska local group is meeting every two months with specific topics. A new group in The Netherlands has more than 20 members. The local group in Portland, Ore., met every week in 2018. A Northern Ireland local group doubled its membership in the past month. Alex, an admin from the Baltimore group, is setting up mastermind groups.   Jillian, from Episode 84, talks about building a life roadmap: Focusing on your values is the first step to building a better life. How did Jillian and her husband create space to talk about their values and what they wanted their life to look like? Be. Have. Do. Jillian uses sticky notes to brainstorm her ideas and organize her thoughts. What is a Quit List? How does Jillian consider seasons of life? Each person’s superpower includes: What you’re passionate about. What you’re naturally good at. What activities you get caught up in and find really fun. Brad talks about listening to where there’s resistance in your life. Could. Should. Want. Writing down your thoughts helps clarify and anchor them. Tickets for Chautauqua 2019 will go on sale soon.   For more information, visit the show notes at https://ChooseFI.com/111R 

111 | Billy B., a writer, entrepreneur and blogger at Wealth Well Done, shares his story of finding freedom in prison, starting over in his 30s and pursuing financial independence despite the setbacks. For more information, visit the show notes at https://ChooseFI.com/111 

110R | Voicemails from the ChooseFI community about saving on grocery bills, making life changes to optimize your circumstances, and a travel suggestion, as well as a review of Monday’s episode and updates from Brad and Jonathan about bills, travel, solar panels and more. For more information, visit the show notes at https://ChooseFI.com/110R 

110 | Rocky Lalvani, blogger at Richer Soul, shares his story of growing up as an immigrant’s child, learning how to save money in his early years, and how he’s teaching his own children about finances now.   Rocky’s parents came to the U.S. in 1968, when Rocky was 2 years old. Among Rocky’s parents’ friends and their community, money was an open topic, and in pursuit of the “American Dream” his family consistently climbed the financial ladder. When Rocky was 7 his father became a single dad, and Rocky started learning how to be more independent, personally and financially.   Paying attention to what customers and supervisors actually wanted helped Rocky advance at work. How much was Rocky saving when he was working in his youth? Rocky worked through college by delivering pizza and working at the university, finishing without any student debt. When he got his first post-college job, his dad helped him set up all the available automated savings accounts – 401k, company stock, etc. After realizing he needed to get out of consumer debt, what was Rocky’s strategy? Rocky’s plan was always to be a millionaire – he had been calculating and trying strategies since early on. Seeing people lose their life savings in an economic downturn motivated Rocky to get himself into a steady financial position. What steps did Rocky take to get himself to FI? Started saving early. Always spent less than he made. Rocky paid off his mortgage as early as possible. How is Rocky teaching his children about money? At this point, Rocky’s children are young adults – they don’t need things to be confident. Rocky wishes that in addition to teaching how to save money, he had also taught his children to earn money. Rocky’s strategy to help his daughter do well on the SAT, and hopefully earn a good scholarship, was to download an app on her phone and answer one SAT question a day for three years, prior to taking the exam. Earning a scholarship to college is a sliding scale – a student might earn scholarship at a lower tier school, when they would not earn anything at a “better” school. Rocky and his son went a step further and did their best to figure out how to pay for college with the lowest price tag. For more information, visit the show notes at https://ChooseFI.com/110 

109R | Big ERN from Early Retirement Now joins the show to talk about the current market climate: How is it impacting investors, who could benefit, and what markers he uses to evaluate its actual condition? We also share a voicemail from Abby, who provides a few more helpful hints for teaching abroad. Highlights from the show: Brad maxed out his HSA for 2019, and talks about how he’s prioritizing fitness. Easy choices, hard life. Hard choices, easy life. Preview of who will be at the coming CampFI that Brad plans to attend. Review of Monday’s episode about teaching abroad, and the wide variety of opportunities available. A voicemail from Abby H., who is currently teaching in China and has experience in several other countries as well. Abby tried teaching in Kuwait, but found that despite a high salary the cost of living was also extremely high. Suggestions from Abby: Don’t just look for jobs in the Middle East, or other “high salary” locations. Try negotiating your salary/benefits offer. Look for options that don’t require purchasing a car. How did Rob and Scott, from Monday’s episode, replace fear with flexibility in each of their lives? Big ERN joins the show to talk about the current market situation: What is “sequence of returns” risk, and why does it matter? Under the assumption that the great recession or the dot-com bust will not repeat, Big ERN thinks it’s too early to worry about the current market climate. The 4% rule isn’t as untouchable as people think. With a small market downturn, it’s possible that some people will need to draw as much as 5%. If someone’s portfolio decreased this year, should they work a few more years to rebuild it, or count on the market recovering? If someone is still many years away from retirement, they shouldn’t worry too much about the market, and might actually be benefit from low stock prices. If you have a 50% or higher savings rate, you are going succeed financially, regardless of this drop in the market. The U.S. economy is still strong, so the value of the market isn’t necessarily going down – the price is just down. If someone has a sum of money ready to invest, should they invest it all at once, or employ “dollar-cost averaging”? Who should be concerned about the market and what should they be looking for? Look at the fundamentals of the U.S. economy to evaluate the conditions of the market. Big ERN just retired. His family is just settling in to a new house in Washington. Links: ChooseFI Local Groups are helping to build on-the-ground community TeachAway Early Retirement Now

109 | Scott, a math teacher in Santiago, Chile, and Rob, a blogger at Getting Canned, share their experiences teaching abroad, including the financial and lifestyle benefits, and the how-to for making it happen. For more information, visit the show notes at https://ChooseFI.com/109 

108R | Brad and Jonathan talk through the various methods of calculating a yearly savings rate and the numbers necessary to do so, and review Monday’s episode about setting up special needs accounts.   Jonathan is back from 20 days with family in Zimbabwe, and Brad recaps his Christmas vacation. Brad and his family added 12 board games to their collection. William, from Monday’s episode, set out a road map for people who want or need to safe guard finances for special needs children or other dependents. Key: fund your trust as a part of executing your will to minimize tax liability. Start with a 529 Able, but as you reach $100k, begin to look at the next steps. Comment from Rebecca, that the 529 Able accounts in Nevada have higher fees than she preferred, so she’s funding a traditional 529 Plan and will eventually rotate it into a 529 Able. Every state currently has its own set of 529 Able options. Voicemail from Penny, who has a special needs trust and was on disability for 16 years, but has been back to work for the past 12 years and is now working to help her parents with their healthcare and financial needs. Financial independence is the ability to do the things that bring you joy, whether they bring in money or not. In 2019, ChooseFI is bringing in experts to answer specific, technical questions. William is helping to build the website, and a more user-friendly local group site. Brad is going to Camp FI in Florida soon. How to calculate your savings rate: Three different ways to calculate: Gross total compensation divided by how much you saved or invested. Take-home pay divided by how much you saved or invested. After-tax compensation divided by how much you saved or invested. Brad uses an excel sheet with three tabs: Profit & Loss (P&L), Net Worth, Accounts. In the Accounts tab, Brad records savings in each account at the beginning and end of the year, and totals up monthly expenses (cost of electric in Jan., Feb., Mar., etc.). Does Brad track every one of his credit card expenses? Net worth = add up all your assets and all your liabilities. For more information, including links mentioned in today's show, visit the show notes at http://ChooseFI.com/108R

108 | William McVey, ChooseFI’s Chief Technology Officer, walks through investment options available to meet the financial demands of special needs children, and the strategies he’s used to prepare for his children’s future.  For more information, visit the show notes at https://ChooseFI.com/108 

107R | A year-end episode featuring voicemails and messages from the ChooseFI community sharing successes, progress, exciting discoveries, and hopes for next year of our journey toward financial independence. For more information, visit the show notes at https://ChooseFI.com/107R 

107 | Craig Attkinson, owner and founder of Green Side Up, a landscaping company in Richmond, Va., explains how he started his business in his mid-20s, what it took to grow and optimize the business, and how he’s optimized other aspects of his life as well. Craig started out his career on a golf course, with a degree from Virginia Tech in turf grass and horticulture. Green Side Up started in one weekend when Craig bought a truck, a trailer and a mower all at once. Craig mowed lawns since he was 10 years old and saved it all until he bought his supplies. Jumping straight into landscaping required Craig to do everything himself, and learn on the go. When Craig brought on his first partner, he gave him 50% of the company, and guaranteed a salary, knowing that they would have to build up that amount of business. How did Craig get contracts in the mid 2000s? Craig has a marketing company now that helps now, but early marketing for Green Side Up involved phone books, purchasing ads and a lot of networking. Having a partner to build ideas, and watching to see how other similar businesses function is helpful to build efficiency. Finding a good system for managing the work processes and clarifying expectations for employees hugely increased the business’ efficiency. How can Craig build the company to a point that he can step away? As the business gets bigger, purchasing things in bulk, or at higher volumes, helps Craig get better prices. How did Craig find the FI community? Craig’s goal in life is to not have to ever worry about money. Craig’s saving rate is about 70-80% because he benefits from company vehicles, cell phone plan, etc., which makes his personal expenses much lower. Craig’s family farm houses the equipment for the business. How and why did Craig design his own tiny home, next to his sister’s house? Craig loves life optimization; what aspects of his tiny home are most optimized? Took advantage of a 4’ x 6’ nook for his office. Used leftover granite from someone else’s kitchen remodel for his own small kitchen. Built a bed with drawers underneath for his closet. Craig is technically FI, but is still loving his work, so he’s not retiring anytime soon. His next adventures are climbing in Patagonia and biking in Norway.   For more information, visit the show notes at https://choosefi.com/107 

106R | A series of suggestions and questions from the ChooseFI community, including HSA funds, capital gains distributions, and Traditional versus Roth IRAs, and follow up from Monday’s episode with Deanna. Jonathan raves about battery-powered chain saws, and a great bonding experience with his dad. Brad’s in-laws enjoy helping Brad’s family with landscaping and gardening. Pursuing financial independence gives Jonathan the opportunity to plan his family’s schedule first and work around that. The people pursuing FI aren’t just single, white software designers; FI gives everyone the opportunity to prioritize family. We get to pick our story. Our mindframe changes the trajectory of our lives. No matter how bad you’ve had it, there is someone with more obstacles than you had, who found a way through. ChooseFI isn’t about Brad and Jonathan, it’s about the community. Voicemail from Danny Kenny, a CFP, who recommends rolling HSA funds out of your employee account and into an external HSA custodian account that will have lower costs associated (allowed once a year) and explains how capital gains distributions can hurt long-term holders. Another voicemail, from Hillary, who enjoys hearing about the fundamentals of financial independence. Lee asks why someone would choose a Traditional IRA versus a Roth IRA, since neither are funded by truly “pre-tax” money? A 401k comes out of your W2 paycheck, before it’s taxed, while Traditional IRA contributions come from a personal decision to contribute post-paycheck money to a retirement account. When someone uses a Traditional IRA, contributions are deductible and lower your taxable income to decrease your tax liability. A Roth IRA does not come with a tax deduction. Taxable investments are just a different way to store your money aside from just keeping money in the bank – either an investment account, or investment properties. Ruth points out that it’s important to check our accounts and protect ourselves from recurring and unwanted charges. James shares a frugal win – offering graphic design services in exchange for a $500 discount to his favorite coffee shop, so he can work there and drink coffee for free.   For more information, visit the show notes at https://choosefi.com/106R 

106 | Deanna, blogger at msfiology.com, shares her journey from drug and alcohol addiction to recovery, paying off six-figures of personal debt, and getting started on her path toward financial independence. For more information, visit the show notes at https://choosefi.com/106 

105R | Brian Feroldi joins the show to talk about the costs and benefits of installing solar panels and answers questions about his investment strategies, and Brad and Jonathan recap Monday’s episode with Paula Pant before announcing a new ChooseFI project on the horizon. For more information, visit the show notes at http://ChooseFI.com/105R 

105 | Paula Pant, creator of Afford Anything podcast and blog, dives into her love for travel, her rejection of the traditional 9-5, and how she built an income to match her lifestyle. Paula moved to the U.S. as a baby, just after being born in Nepal. Her only travel growing up was between Ohio and Nepal. Travel has become a large part of Paula’s life, but her desire to travel only grew in her adult life. Rebellion is a form of seeking identity. Once Paula started traveling did she fall in love with travel immediately? What does Paula consider a legitimate visit to a foreign country? Two weeks of vacation in Paula’s first few years of work after college felt too limiting. Paula made a lifestyle change, and then figured out how to fund it. Learning about and trying out freelance work introduced Paula to the idea that someone could work outside of the traditional 9-5 work. Did Paula receive criticism when she quit her job to travel? When Paula traveled for her first few years, she budgeted about $1,000 a month for expenses and chose to visit countries where the dollar goes far. Paula’s tips for building connection while traveling: Stay at hostels – more economical, and more social. Meet the American, Australian, British, etc., ex pats, and meet their friends (build relationships, and travel slowly). How did Paula restart once she returned to the U.S. after her 27-month adventure? In pursuit of writing what she wanted to read, Paula became a personal finance writer. When did Paula begin to feel imposter syndrome? Default to saving, instead of default to spending. Why does spending money create anxiety for Paula, and how did the scarcity mindset actually push Paula toward financial independence? Passive income (real estate) was primarily meant to give Paula some financial cushion, instead of a means to financial independence. Humans crave autonomy, purpose and mastery. Reading about potential scientific advances motivates Paula to be healthier because she wants to be around to see it. Self-care is work care.   For more information, visit the show notes at https://ChooseFI.com/105 

104R | An update from Marla Taner on 2018’s best travel reward options, a hack for keeping your bills low, a review of Monday’s episode with Doc G.   Jonathan tries out a new service to ensure that his bills are staying low. Billfixers.com is fixing a ‘pain point’ for Jonathan. How can someone balance simplicity, and a willingness to say yes to opportunities? Review of Monday’s episode: Purpose, Identity and Connection. Finding your identity – the story you tell yourself, about yourself – is crucial to finding your space in the world. Why was Brad was given singing lessons as a gift from a couple at Chautauqua? Marla Taner joins the show to update about travel rewards: She’s traveling to Hawaii for New Years with 9 friends. Flight reward deals are not as good during Christmas, but hotels are usually consistent. What is the Southwest Companion Pass and what is the strategy to get it? Earn the ability to bring someone with you for free on every Southwest flight for up to 2 years. Must earn 110,000 Southwest rewards points in one calendar year. Current strategy: Southwest’s Business card comes with 60k points. Southwest’s Personal card comes with 40k points. Southwest has good sales on right now. What does it take to apply for a business card? Barclay Arrival Plus – Marla’s recommendation for beginners. Capital One Venture card has added a transferrable-points feature. Don’t overspend, look for opportunities to front-load some of your normal expenses to hit minimum spends (i.e., utility bills, or internet, grocery gift cards). Marla is joining Tim and Amy Rutherford from ChooseFI Episode 79 in Tempe, AZ for a few days. Want to join? Best way to connect with Marla, Tim and Amy is via the Go With Less blog. Join them in Tempe .  

104 | Doc G, writer at DiverseFI.com, shares his experience and mindset as he considers stepping away from his career as a doctor, and highlights the value of building purpose, identity and connection. For more details, visit the show notes at https://ChooseFI.com/104

103R | Captain DIY returns to recommend some accessible projects for the beginning DIYer, Jonathan highlights two recipe and meal organization apps, and several messages from the ChooseFI community. For more details, visit the extensive list at https://ChooseFI.com/103R 

103 | Tinian Crawford, blogger at DIY2FI and licensed electrician, talks about his path to licensure, the advantages of trade jobs and his transition to pursuing financial independence.     What jobs are represented in the FI community? Base salary for an electrician is $70 minimum. Many people go to trade school in high school or immediately after, so there’s very little financial education in the trade-work community. Tinian’s father built his childhood house, and Tinian was enlisted to help with construction projects on their property. Does Tinian find value in the graphic design education he received in community college? Tinian’s first job was building signs – many of which were lighted signs – which piqued his interest learning about electrical work.   What education do you need to start electrician licensure training? Tinian’s one-year program cost $25k. To be fully licensed, an electrician has to do a 5-year apprenticeship. Making $70 an hour comes when you work for yourself. Do most electricians jump right into owning their own business? Tinian’s recommendation: stick with a contractor you can learn from for your day job, and start taking jobs on the side. Additional trade jobs that would be great for FI: Garden landscaping and design Plumbing Tinian’s wife suggested that they save $20k by the time their first child was born. In order to avoid high childcare costs, Tinian and his wife split their schedules as much as possible. Tinian hopes to leave his day job at some point, but still needs to learn more about managing benefits and figuring out exactly how much he needs to support his family. In order to prepare for leaving a day job, it’s important to identify how much life will cost after the change. Beginning their investing with a local financial advisor and a socially conscious portfolio was a mistake for Tinian.     Links: DYI 2 FI DIYCaptain - Twitter Burrito Bowl Diaries “Eliminating the Excuse” – Saving Sherpa

102R | Brad and Jonathan explain the long-term tax benefits of using a Health Savings Account to pay for medical expenses, discuss the benefits of new index fund investing options, review Monday’s episode with Timika Downes.   Brad and Jonathan are getting back to traditional health insurance, and excited about the Health Savings Account (HSA). Most companies offer health insurance options, typically including: Low monthly premium + high deductible High(er) monthly premium + low(er) deductible. The IRS defines a high deductible plan as anything higher than $1,350 for an individual, or $2,700 for a family. Employees with high deductible plans have access to an HSA (eligible accounts). An FSA (Flex Savings Account) is a reloadable account, that is primarily use-it or lose-it Putting money in an HSA is tax free, and rolls over to future years, and drawing it out for medical purposes is tax free. 2018 HSA contribution limits: $3,450 for individuals $6,900 for families After 65, if you have unused money in your HSA, you can draw it out like a traditional IRA and just pay your normal tax. Brad intends to save his receipts and wait to be reimbursed until later, as HSAs will earn interest the same as any investment account. ChooseFI community members recommend Lively or Fidelity. Review of Monday’s episode with Timika – similar concepts and action points as the recommendations from Alan in the Side Hustle Coaching Series. You don’t need permission: just take action. Dan writes in to report that he’s reached FI! ChooseFI has listeners across the globe – although not all the tax and investment information are relevant to international listeners, the lifestyle conversations are. Brad and Jonathan highly recommend Vanguard because they have low fees, which means investors keep more of their returns. In last few months, Fidelity began offering zero-fee funds and Vanguard has lowered its minimum investment from $10k to $3k for several funds. Investments abroad can have very high fees. Zero fees are not the only thing to consider when picking accounts: tax efficiency is very important as well.   Links: Vanguard Ratchets Up Index-Fund Price Battle

102 | Blogger and podcaster Tamika Downes reveals how she went from $94K of debt to owning a six-figure income-earning side hustle while continuing her job as a school nurse and raising three children. Timika’s early financial experiences came through immigrant parents, from Barbados, hustling and saving. Having a side hustle was common place in Timika’s family. Despite her family’s habit of saving, Timika finished her education with $94K of debt. After her undergraduate Timika had $24K in debt. Student loans for her master’s cost $35K A second, nursing degree, cost another $30K Choosing to pursue something that you’re not quite ready for can often lead someone to pay more than necessary. Nursing degrees don’t have to cost $30K; immediately after high school students can become qualified Certified Nursing Assistants (CNAs) working in hospitals or nursing homes while starting at a community college and finishing through a bridge program at a 4-year school. Nursing is a trade; find the most efficient way to get qualified. Many universities offer tuition assistant to the children of faculty/staff, often including tuition at other universities. What options did Timika consider in order to decrease her student loan debt? Timika’s mindset changed when she started to own her life circumstances; taking responsibility for her finances was a natural result. Instead of buying a $20K car, Timika bought a $20K business – a lice clinic. Timika spoke with out-of-state clinic owners and did her homework before deciding to invest in the set up for her clinic. Since opening the business, Timika has increased her talentstack to include: Securing a business lease Blogging Website management Business finance management Timika went to coding bootcamp, for 75% discount as a female minority. The lice clinic is now almost passive income: Timika only devotes three hours a week and has hired employees who manage the rest.   Links: House of FI Reluctant Frugalist Saving Sherpa The Road to Retirement: (Re)Learning to Love Work For more information, visit the show notes at https://ChooseFI.com/102

101R | Brad and Jonathan talk about their experiences with W2 jobs and building side hustles, Jose shares his own side hustle tip, and Alan and Tallis wrap up the 4-part Side Hustle Coaching Series.   Brad and Jonathan are jumping into planned spontaneity. Do your actions align with your values? Brad recounts how the accounting firm he worked for right after college, one of the biggest in the U.S. at the time, folded and within 9 months no longer existed. W2 jobs aren’t all that risk-free after all. Having a side hustle is about diversification. Jonathan talks about how Dani is building an audiobook side hustle, using some of the techniques and strategies that Nick Loper talked about in Monday’s episode. Willingness to pivot your side hustle idea gives you a better chance at building a side hustle that actually works. Voicemail from Jose with a side hustle tip from Task Rabbit – sign up to help others with random tasks, and add a little extra cash to your pocket. Brad’s opting to rent a car through Turo, through which customers rent someone’s personal car, similar to AirBnB.   Side Hustle Coaching Call Episodes to review: Episode 30, Episode 56 (Part 1), Episode 77R (Part 2), Episode 85R (Part 3) Tallis reviews how her initial cold calls, starting from further away geographically and becoming increasingly local as she refined her sales pitch. Tallis has 4 dance classes she’ll be teaching soon! Tracking results and feedback from the start of your business is important. Measuring results, and using valid tools respected within the medical community will be important to Tallis’ business. Where does Tallis want her business to go in the next 2 years? Keep pressing forward – it’s impossible to know how the business might grow, but Tallis is building entrepreneurial skills and opening options for her future.   Links: 10 Big Chain Stores That Will Secretly Match Amazon's Low Prices

101 | Nick Loper, founder of Side Hustle Nation, talks about the benefits of developing a side hustle, and methods to actually develop a good side hustle idea.   You can only cut so much from your expenses; a side hustle helps you expand your earning potential. Nick thinks working just a 9-5 job is risky – what happens if you get fired? Nick advocates several methods for developing side hustle ideas. Method 1: Intersection Method Write out three columns with lists that include what you can do, what you like to do, and the people in your network. Nick used the Fiverr website to test out his first side hustle idea. How important is it to pivot, instead of being discouraged by failure? Some of the best ideas are developed once a business is already in motion. Method 2: What sucks? Find simple sticking points in life and solve the problems. Some people find things on Amazon that suck, and find a way to make them better. There are manufacturing companies in China and the U.S. that work with small orders and require minimal up-front investment. You don’t need a brand-new idea, you just need a different market. Recommended episodes from Side Hustle Nation: Episode 173: How to Turn Your Ideas Into Recurring Revenue, with Stephen Key Episode 263: The Top 3 Amazon FBA Private Label Product Research Strategies for 2018 and Beyond Method 3: Rip, Pivot and Jam Find a business model that’s working, pivot it to a new market, product, etc., and then do the work. Are there side hustles that Nick no longer recommends? Sometimes the opportunity cost for a side hustle may not be worth the cash. One of the best side hustle ideas Nick has heard: Flea Market Flipper. How difficult is it to develop a passive-income side-hustle? Think Maids: found a category of businesses on Yelp that had really poor reviews, and found a way to provide better customer service.   Links: Alibaba.com Smart Passive Income GoCurryCracker

100R | Brad and Jonathan explain how simply knowing the rules can save you thousands on taxes and college financing, Brad talks through the IRA Conversion Ladder and Capital Gains Harvesting, and a few updates from the community. The financial independence movement is growing, and seeing a lot more press coverage. Messaging matters: The Wall Street Journal published one article with two different headlines. Pursuing financial independence isn’t about buying brown bananas, despite what some media would suggest. Brad reached financial independence with intentionality about his priorities in his life. Brad and Jonathan don’t aim to tell people what decisions to make in their life, just give options and information. What did Brad’s family do to reach financial independence? Housing: chose to move to a less-expensive cost of living area Cars: Brad & his wife drive 15-year-old cars Food: don’t go to restaurants often Set up a life that doesn’t cost that much. Pursuing financial independence actually allows people to pursue jobs that they love. If life costs a lot and someone is in debt, it’s very hard to walk away without taking major risks. Knowing tax rules is a huge component of pursuing financial independence. Knowing the rules in regards to paying for college makes a huge difference in how much financial aid your student might be eligible to receive. A message from Matt about researching the actual requirements necessary for a job in nursing – the cost of nursing school can range from a few thousand dollars to more than $100k. Studying nursing in a less expensive area still gives you qualifications to practice anywhere in the U.S., with a potentially huge payoff. Roth Conversion Ladder & Capital Gains Harvesting – the goal is to pay little or no tax. Roth IRA Conversion Ladder: Starts with traditional IRA/401k. If you want to retire before 59.5, taking money out is taxable income. If you’re not collecting significant income, taking money from an IRA is unlikely to push you into a high tax bracket. Capital Gains Harvesting If you’re income is low, your tax bracket can be incredibly low. Email from Dan explaining how he and his wife paid off many of their debts, found a way for his wife to be a stay-at-home mom, and started a small side hustle. Brad shares a frugal win of the week at the optometrist. For more information, visit the show notes at https://choosefi.com/100R 

100 | Brad and Jonathan look back at the ChooseFI’s growth during the past 100 episodes and hit the highlights of financial independence for new community members and recap their own financial independence journeys.   Jonathan considers himself a reluctant frugalist, but the idea of not having to work won him over. Brad and his wife were natural savers, but chose to move from Long Island, NY, so that they could save more and work toward financial independence. If you want to take back your years and have the option to stop working before your 60s, you’re going to have to live differently and make different choices. The key to long term freedom is saving money. The benefits of pursuing financial independence are felt long before reaching FI. Jonathan put himself in a position to leave his pharmacy job when it stopped working for him and his family. A huge quantity of life’s stresses can go away if you’ve got some money in the bank. What you earn minus what you spend = the gap. The goal of the ChooseFI community is to help you grow the gap, and pursue what you’re most interested in. ChooseFI isn’t about the money, it’s a life optimization strategy. Small sacrifices add up in the long term. What is a talent stack, and how did it change Brad’s life? Starting with current income is the wrong place to start calculating the number you need for retirement. FI number = 25 x annual expenses (4% rule of thumb) If you’re only saving 1%, it’ll take you 100 years to replace on year of expenses. Getting as close to possible to a 50% savings rate is when things really start to move quickly. Being rich isn’t watches and cars – it’s money saved and pursuing what’s more important to you in life. What major decisions put Brad on the path to FI?   Links: Mr. Money Mustache www.choosefi.com/start

099R | Brad and Jonathan review Monday’s episode about generous giving and resource stewardship, then catch up on voicemails and updates from the community about dental school, fall activity ideas, and the recent dip in the stock market.     Jonathan recaps his recent family vacation and travel to FI Chautauqua Greece. Chautauqua was most importantly about community. Jonathan saved nearly $1,200 on a bill for his son’s broken leg just by asking for an adjusted cash-pay price. The Playing with FIRE Kickstarter event far surpassed expectations. More than 1,000 supports More than $100k Review from Monday’s episode with Michael Peterson. Michael continues to work because he wants to be able to give. Geoarbitrage might not always be what we think; moving to ‘less expensive’ countries also usually involves a big lifestyle change. Considering oneself to be a steward of resources, not just an accumulator of money, puts members of the FI community in a unique position to be generous and consider their impact on world. Voicemail from Brian Feroldi from Motley Fool: stock market is down about 10%, but no need to panic, as drops in the market are normal and bound to recover in the long term. Buying stock when it’s down is like buying stock that’s on sale. Voicemail from Chris who tries to support 2nd and 3rd generation FI by supporting childhood entrepreneurship. Hansi asks the community for help brainstorming 31 free/inexpensive things for couples to do in the fall. Drive to look at fall foliage Toast pumpkin seeds Backyard fire pit Josh, a dentist in Oregon, opted to go to dental school in Oklahoma for half the cost of a school in Boston, and then chose to work in a rural group practice to significantly increase his income. Using money he put into his 401k, he purchased a practice in Bend, OR and improved his lifestyle. Expects to pay more than $1.2 million of loans in the next 5 years. In the medical industry, working in more remote locations tends to increase income. Voicemail from Matthew who is a military dentist – military pays for the cost of dental school, plus a stipend, in exchange for a few years of service to the military, and a guaranteed job.   Links mentioned in this episode: FI Chautauqua usafdds.blogspot.com   For more information, visit the show notes at https://ChooseFI.com/099R

099 | Michael Peterson, owner of a bacon-themed concession stand in California, talks about downsizing his family expenses, spending 8 months of the year managing a non-profit in El Salvador, and why generous giving is important to him. For more information, visit the show notes at https://ChooseFI.com/099   ——————-   Thank you for being a part of the ChooseFI community!  🙂 If you want to support us, here are some easy ways:   1) Leave an iTunes review: http://www.choosefi.com/itunes   2) Use our page to sign up for travel credit cards   Note: We may receive a commission if you are approved for cards on this page   3) Most importantly, find your friends, coworkers, and family members who may be open to this message and tell them about the podcast! (Episode 21 is a great starting place)   As Jonathan would say, "The FIRE is spreading my friends!"

098R | An exciting conversation with Jared about his path to FI as a traveling physical therapist and his current 5-month trip abroad, as well as a voicemail about healthcare planning and a review of Monday’s episode. For more information, visit the show notes at https://ChooseFI.com/098R