ChooseFI
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, 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...
info_outline The Ultimate Random Show | GingerChooseFI
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...
info_outline Freedom Before FIRE | Trip of a LifestyleChooseFI
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...
info_outline 488 | The Courage to Take Action | EconoMe LIVE with Doc GChooseFI
In this episode: courage from community, what to do next, overwhelm, finding community, and the evolution of FI. Live from the 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...
info_outline 487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFPChooseFI
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...
info_outline 486 | The Wealthy Educator | Chris TraversChooseFI
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...
info_outline 485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael CampChooseFI
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: Twitter: Please note: Rachael...
info_outline 484 | A Family Journey From Debt to Early Retirement in a Decade | Joel and Emily AllenChooseFI
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...
info_outline 483 | Effective Giving for the FI Community | Rebecca Herbst & Jack LewarsChooseFI
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...
info_outline 482 | Update: Are Remote Tech Careers Still Relevant in 2024? | Bradley RiceChooseFI
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...
info_outlineIn this episode: financial aid, college planning, standardized tests, tests optional, need meeting, and preparation.
This week we are re-joined by Brian Eufinger to discuss ways to best prepare your children for college admissions, navigating the new changes to FAFSA and the CSS profile, and how you can maximize when prepping for your child’s higher education. While college prep can be stressful for students, from maintaining their GPA to taking multiple standardized tests, it can be just as stressful for parents to figure out financial aid and how to best set up their child for success before and after graduation. However, knowing the factors to consider early on and having the knowledge in advance can make this process far less daunting! While stressful as it may be, remember that there are many different resources available to you and your child that give you the knowledge that may alleviate the pressures that come with college prep and financial aid!
Brian Eufinger:
- Free diagnostic mock SAT and ACT tests (each weekend): www.edisonprep.com/mocks/
- Free information sessions on college admissions (6-7x / year, including one on 11/14 @ 7pm EST): www.edisonprep.com/infosession/
- How to self-prep for the SAT/ACT: www.gettestbright.com/self-prep-for-the-sat-act/
- Edison Prep Bios: www.edisonprep.com/bio/
Timestamps:
- 1:06 - Introduction
- 4:53 - The Impact of Merit Aid
- 11:49 - When, Where, and How to Think About Standardized Tests
- 18:33 - The Intersection of The School, Price, Opportunity, and Comfort
- 25:20 - Standardized Tests and The Reality of Preparation
- 31:08 - Tests (Not) Optional
- 37:32 - Governmental Forms and Financial Aid
- 46:43 - The Variance of Need Meeting and Aid Changes
- 51:13 - Preparation and Knowledge With College Planning
- 55:23 - Non-Academic Path to Savings
- 58:14 - Conclusion
Resources Mentioned In Today’s Episode:
- Demystify College Scholarships | Brian Eufinger | Edison Prep | ChooseFI Ep 114
- Hacking The FAFSA | Brian Eufinger And Seonwoo Lee | ChooseFI Ep. 154
- Major Financial Aid Changes Coming: What Families Need to Know
- FAFSA Changes Are Coming: What You Need To Know
- Big J’s Very Brief Guide to the FAFSA and CSS Profile
- How the FAFSA Simplification Can Impact Your Financial Aid
- Summary of Changes to the 2024-2025 FAFSA
- The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386
- Subscribe to The FI Weekly!
More Helpful Links and FI Resources:
- Earn $1,050 or More With These 3 Cash Back Cards
- Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
- Find a new side hustle with one of our Educational Courses
- Commission-Free Investing with M1 Finance