ChooseFI
How would your life change if you reached Financial Independence and got to the point where working is optional? What actions can you take today to make that not just possible but probable. Jonathan & Brad explore the tactics that the FI community uses to reclaim decades of their lives. They discuss reducing expenses, crushing debt, tax optimization, building passive income streams through online businesses and real estate and how to travel the world for free. Every episode is packed with actionable tips and no topic is too big or small as long as it speeds up the process of reaching financial independence.
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Freedom Before FIRE | Trip of a Lifestyle
04/29/2024
Freedom Before FIRE | Trip of a Lifestyle
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! New ChooseFI shirts are now available Trip of a Lifestyle: Website: Instagram: Crambetter: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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488 | The Courage to Take Action | EconoMe LIVE with Doc G
04/22/2024
488 | The Courage to Take Action | EconoMe LIVE with Doc G
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 your friends. Listen along as Jordan, Brad and our community speculate on their ideas for what their next steps are. Doc G: Website: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP
04/15/2024
487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP
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: Podcast: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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486 | The Wealthy Educator | Chris Travers
04/08/2024
486 | The Wealthy Educator | Chris Travers
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: Instagram: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael Camp
04/01/2024
485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael Camp
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 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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484 | A Family Journey From Debt to Early Retirement in a Decade | Joel and Emily Allen
03/25/2024
484 | A Family Journey From Debt to Early Retirement in a Decade | Joel and Emily Allen
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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount) Get a cheaper phone plan with
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483 | Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars
03/18/2024
483 | Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars
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: Rebecca’s Coaching Program: 1 For The World: Jack’s LinkedIn: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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482 | Update: Are Remote Tech Careers Still Relevant in 2024? | Bradley Rice
03/15/2024
482 | Update: Are Remote Tech Careers Still Relevant in 2024? | Bradley Rice
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: Facebook: Salesforce 5 Day Challenge: Podcast: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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481 | Mailbag: Long-Term Care, Aging Parents and their Finances | Danielle Miura
03/11/2024
481 | Mailbag: Long-Term Care, Aging Parents and their Finances | Danielle Miura
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: LinkedIn: Twitter: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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480 | Update: Healthiest Year Ever | Dean Turner
03/08/2024
480 | Update: Healthiest Year Ever | Dean Turner
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: Website: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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479 | Are You on Track to FI? | FI Roundtable
03/04/2024
479 | Are You on Track to FI? | FI Roundtable
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: Newsletter: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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478 | 2024 Investing Update | Brian Feroldi
02/26/2024
478 | 2024 Investing Update | Brian Feroldi
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: Website: Twitter: LinkedIn: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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477 | The Hot Seat: Community Edition
02/19/2024
477 | The Hot Seat: Community Edition
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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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476 | Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy
02/12/2024
476 | Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy
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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney
02/05/2024
475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney
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: Website: Twitter: YouTube: FIRE in Vegas: Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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474 | Social Security Deep Dive | Denis Shapiro
01/29/2024
474 | Social Security Deep Dive | Denis Shapiro
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: 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: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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473 | Are We There Yet? 'Retire Early' Case Study
01/22/2024
473 | Are We There Yet? 'Retire Early' Case Study
In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning. This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire! The Retirement Manifesto: Website: Book: Case Study: Timestamps: 1:33 - Introduction 2:37 - Calculating When You Can Retire 7:46 - Does Retiring Early Effect Social Security? 15:06 - Tracking Spending and Expenses 20:55 - Health Insurance in Retirement 29:49 - The Importance of Planning/Changing Your Assumptions 40:17 - One More Year Syndrome/Your Health Span 45:00 - The Second Phase of Retirement 49:51 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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472 | The Cure for the Boring Middle | Fioneers
01/15/2024
472 | The Cure for the Boring Middle | Fioneers
In this episode: the boring middle, lifestyle design, flow states, moving towards purpose, experiments, and experiences. This week we are rejoined by friend of the podcast Jessica from The Fioneers to the discuss the point of your FI journey known as the “Boring Middle,” and how through actionable steps and lifestyle design you can turn what feels like a stagnant stage in your FI journey, into one filled with growth and change! When you are well on your path towards reaching your FI goal, it is easy to feel like you’re not doing enough. But what feels like a waiting game can actually be an important time for self growth and experimentation. Taking the time to do some introspection to figure out what your core motivations are can allow you to begin opening yourself up to newer experiences that bring value into your life. So if you feel like you are currently on autopilot, there are steps you can take to shake up your routine and usher in new opportunities into your life. While you may have to quiet your own limiting beliefs in this process, you will learn more about yourself and what you want out of your life! The Fioneers: Website: YouTube: Timestamps: 1:12 - The Boring Middle/Lifestyle Design 7:19 - Determining Your Version of Success 18:41 - Finding Your Flow State 28:16 - Implementing Your Designed Lifestyle/Moving Towards Purpose 36:09 - Questions, Experiments, and Experiences 46:59 - Making Dreams Actionable 52:09 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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471 | Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett
01/08/2024
471 | Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett
In this episode: inflation, coast FI, early retirement planning, future tax liability, IRA's and 401k's, and diversification. This week we are rejoined by founder of Measure Twice Money Cody Garrett for another installment of the Mail Bag, where we will be talking through questions from our listeners covering topics ranging from inflation and its implications on your FI number, ACA subsidies and early retirement, as well as the similarities and differences with Roth accounts and future retirement tax liabilities. Listen along while we dip into the listener mailbag this week and discuss topics chosen from YOU the listener! Cody Garrett: Website: LinkedIn: Timestamps: 1:02 - Introduction 1:35 - Inflation and Your FI Number 11:41 - Early Retirement Planning 21:55 - Calculating Future Tax Liability 30:15 - Distinctions Between IRA and 401k 33:37 - Diversification and Tech Stocks 44:26 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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470 | The Spectrum of Financial Independence | Chris Hutchins
01/01/2024
470 | The Spectrum of Financial Independence | Chris Hutchins
In this episode: FI versus FIRE, coast FI, lean FI, tools for FI, the skill of spending, dying with zero, and prioritizing health. This week we are joined by our friend and host of the “All the Hacks” podcast, Chris Hutchins to discuss the “spectrum” of FI, and all that falls in between. From the evolution of FI over the years, to the changes we’ve made on our respective journeys, and even differentiating terms such as FI versus FIRE and Coast FI, we cover it all! We also found some time to share some tools and resources that can be beneficial to you and your FI journey. While the path to FI allows you to take control of your financials and future, this journey can usher in so many new perspectives and changes that affect all areas of your life! Allowing yourself flexibility and remembering that what you are working towards isn’t just a number or early retirement, but rather a more fulfilling life! Chris Hutchins: Podcast: Newsletter: Timestamps: 1:16 - Introduction 3:19 - FI Versus FIRE 10:11 - Lean FI 17:11 - Coast FI 30:20 - Tools for Tracking FI 41:48 - Optimizing Accounts 47:56 - The Skill of Spending and Dying With Zero 60:12 - Prioritizing Health 70:01 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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469 | A Tale of Action | Navish Bahl
12/25/2023
469 | A Tale of Action | Navish Bahl
In this episode: real estate, upskilling, taking action, tracking your expenses, setting goals, getting on the same page, and the hot seat. This week we are joined by listener Navish Bahl to discuss his journey on the path to FI, the actionable steps he’s taken in order to maximize his life, answer some questions in the HotSeat, and navigating your FI journey while your significant other or family may not be on board. There are many avenues you can utilize in order to achieve FI, and while it may be overwhelming at times to figure out what works for you and your journey, remember that the goal is to learn and go through life with more freedom and balance, not stress and burnout trying to chase a number. The path to FI is a personal one, and as you embark on your journey allow yourself some patience but also some flexibility, and don’t forget to extend some patience to others in your life who may not be on the same path. Navish Bahl: LinkedIn: Timestamps: 0:52 - Introduction 2:30 - The Inspiration to Start and Taking Action 11:44 - Real Estate and Rental Properties 18:42 - Upskilling, Getting New Jobs, and Making Connections 33:09 - Discovery, Education, and Action in FI 39:52- Tracking Your Expenses 46:34 - Getting on the Same Page 50:21 - The Hot Seat 55:18 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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468 | Year End Wins 2023
12/18/2023
468 | Year End Wins 2023
In this episode: checking boxes, supplementing income, life by design, taking action, the value of time, and year end wins! This week we are re-joined by Johnathan for our 7th annual year-end-wins episode! Together we tune into voicemails sent by you the listener and celebrate your victories from 2023! From confidently investing in your future, to finding new friends and support systems within the FI community, we are proud to be a part of your journey towards reclaiming your freedom and your time! There are many small and large goals you all met that deserve to be celebrated! Listen along as we discuss and commend you for taking action and making the most out of your FI journey this year! Timestamps: 0:53 - Introduction 3:03 - Katie, Supplementing Income, and Checking Boxes 6:56 - Rakesh, Second Generation FI, and Investing 9:02 - Stephanie, Life by Design, and the Health Snowball 11:45 - Brian, Coast FI, Teaching FI, and Choosy Consulting 16:16 - Boyd and Emergency Funds 18:13 - International Coast FI, Taking Action, and Reclaiming Your Time 21:25 - Anthony, Skilling Up, and Chasing Your Dream With FI 25:35 - Donna, Helping Family, and Finding Peace Through FI 30:24 - Bryan, The Value of Time, and Deciding to Change 37:31 - Paul, FI Travel Wins, Healthcare, and College Hacking 42:01 - Sabrina, Breaking the Cycle, Marginal Gains, and Being 1% Better 47:52 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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467 | The Power of Community | Amy, Diania, and Stephen
12/11/2023
467 | The Power of Community | Amy, Diania, and Stephen
In this episode: community, structuring FI events, unstructured time, the energy in the room, and vulnerability. We all know that the online FI community can help you along the journey in a variety of ways, but the abundance and ease of access to that community can lead to us forgetting the impact live FI events can have on your life. Our Guests Stephen, Amy, and Diania from CampFI, FI Freedom Retreats, and The EconoMe Conference respectively can attest to the power of in-person communities as they are the ones who work so hard to put them together! Together with Brad, the foursome talk about the different benefits that can come as a result of joining these conferences, and how “the energy in the room” can help you find value and take in information in ways you never thought possible! Amy, Diania, and Stephen: Stephen (CampFI): Diania (EconoMe Conference): (10% off using code "choosefi") Amy (FI Freedom Retreat): Timestamps: 1:04 – Knowing Versus Doing/The Benefit of Events 8:32 – What Can Be Achieved Through Community 14:02 – Being Vulnerable/The Effect of Multiple Days 22:33 – The Evolution of FI Events 31:23 – Structuring FI Events/The Energy in the Room 43:00 – Attendees Finding Value 51:10 – Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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466 | Journey to Financial Freedom | Jamila Souffrant
12/04/2023
466 | Journey to Financial Freedom | Jamila Souffrant
In this episode: finding a sustainable path to FI, adjusting your lifestyle, guac levels, mindset, and finding what you want. Jamila Souffrant makes her long awaited return to the podcast to discuss building a sustainable path to FI, the importance of readjusting, financial freedom versus financial independence, as well as other topics detailed in her new book While you may begin your FI journey with a set plan in mind, that doesn’t mean the actions you take along the trail of your journey won't serve you at different stages. On this journey, you should never feel like you are depriving or overindulging, but rather finding a balance that works for you and brings you happiness in the present. Remember, reaching your FI goal should never be at the cost of your happiness, and while making necessary changes is part of FI, you shouldn’t be sacrificing your happiness in order to reach your goal quicker. Being mindful and willing to change your plans just as life can change will not only bring you more freedom, but allow you to make the necessary mindset changes that will serve you in ways well beyond your financial journey! Jamila Souffrant: Jamila's New Book: Podcast: Website: Socials: Timestamps: 0:49 - Introduction/Update From Jamila 5:02 - Finding Your Sustainable Path to FI 11:55 - The Perks of Pursuing FI/Adjusting Your Lifestyle Levels 17:17 - Diagnosing Your True Area of Need 22:39 - Gaining Stability/Having Power From Your Money 27:23 - The Importance of Mindset/Believing it's Possible 31:10 - Finding What You Want 38:59 - Setting Financial Goals 41:18 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: (code ‘CHOOSEFI’ for 20% off) (with $100 Discount)
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465 | Jonathan Returns: Upside Down Economics and the Priceless Value of a Great Question
11/27/2023
465 | Jonathan Returns: Upside Down Economics and the Priceless Value of a Great Question
In this episode: lessons from failure, curiosity, mastering the small things, skilling up, and the value of time. The return of Johnathan! Yes Jonathan is returning to the show to catch up on the work he’s been doing behind the scenes over the last year and a half, the value of freeing up your time, skill spending, and the importance of focusing on the little things while keeping the bigger picture in mind. Whether it’s when you’re just starting your FI journey or if it’s in other areas of your life, failure and mistakes can be inevitable. However, they should never keep you from trying to build and create the life you are working towards! One of the key lessons taught in FI is to change your mindset from one of scarcity to one of growth, and part of that challenge means identifying failures and taking action to learn from them. While you are working towards your own “big picture” on this journey, don’t forget to focus on the smaller things. Not only will it allow you to pay closer attention to what you are doing right and wrong, but it makes it easier for you to pivot and reevaluate when necessary! This journey is not just about reaching that final goal, but about using the knowledge and lessons learned along the way to make life a little bit freer and a little bit easier! Timestamps: 0:22 - Introduction 1:26 - Update From Jonathan/Lessons From Failure 8:53 - The Curious Mindset 17:57 - Failing Forward and The Small Things 27:42 - The Importance of Skilling Up in Today's World 36:30 - Your Most Valuable Non-Renewable Resource 44:11 - Paying Off The Mortgage/Donor Advised Funds 59:19 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: Earn $1,050 or more with these Share FI by sending a friend Find a new side hustle with one of our Commission-free investing with
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464 | Budgeting Masterclass | Tiffany "The Budgetnista" Aliche
11/20/2023
464 | Budgeting Masterclass | Tiffany "The Budgetnista" Aliche
In this episode: the make whole mindset, budgeting, grace and space, automation, and splitting it before you get it. This week we are re-joined by Tiffany Aliche better known as "The Budgetnista” to discuss her new book which details her 10 step system towards financial wholeness, the ease of automating payments, the importance of accountability partners, as well as designing separate accounts to reflect your needs. It can be intimidating to begin addressing your finances and planning your financial future, but your past mistakes or lack of knowledge should never be the thing holding you back from beginning your FI journey. Building a financial foundation for yourself doesn’t happen overnight. Everyday it requires you to make the necessary changes and instill new habits that get you closer and closer to your goals. And while personal finance is personal, there is no reason to go through it alone. No matter your background or what stage of life you begin FI, there is a large community of people on this journey that will embrace and celebrate the smaller milestones just as much as the bigger ones! Tiffany "The Budgetnista" Aliche: Website: Get You Copy of Tiffany's New Book Coming Out on November 21st 2023: Tiffany's Last Book: Timestamps: 1:00 - Introduction 2:06 - The Make Whole Mindset 8:19 - Automation 18:34 - Grace and Space For Learning 28:29 - Split It Before You Get It 37:43 - Splitting Your Saving Accounts 44:41 - Emergency Savings/Personal Finance is Personal 54:28 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: Earn $1,050 or more with these Share FI by sending a friend Find a new side hustle with one of our Commission-free investing with
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463 | Superpower of Frugality | Frugal Friends
11/13/2023
463 | Superpower of Frugality | Frugal Friends
In this episode: frugality, value based spending, honoring your season, identity, budgets, financial goals, and minimalism. When you think of the word frugal what comes to mind? To some it can mean spending on what you absolutely need and leaving little wiggle room for anything else, but to others frugality is not just a restrictive budget but a superpower! This week we are joined by Jen and Jill of the Frugal Friends podcast to discuss the intersectionality of frugality and the FI journey, as well as finding the balance between budgeting to invest in the future you want without depriving yourself in the present. Mindfulness and paying attention to the things you spend money on is an important part of the FI journey, but it is just as important to be mindful of the things that bring value and joy into your life. While budgeting and reducing your spending can help you reach the FI finish line a bit quicker, it should never be at the expense of cutting out the things in your life that are fulfilling! Implementing frugal habits and finding a budget that works and changes with your life can be an incredible tool while on the path to FI, because not only does it open up opportunities to invest monetarily, but also invest in yourself and the life you want to live! Frugal Friends: Website: Podcast: Newsletter: Timestamps: 1:11 - Introduction 3:24 - Balancing Frugality 12:38 - Frugality, FI, and How They Fit Together 17:21 - Budgeting and Value Based Spending 26:43 - Honoring Your Season 29:22 - Financial Goals and Identity 36:50 - Examining Budgets and Sinking Funds 42:53 - The Intersection of Frugality and Minimalism 49:37 - Prioritizing Value Based Spending 53:44 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: Earn $1,050 or more with these Share FI by sending a friend Find a new side hustle with one of our Commission-free investing with
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462 | Pathfinders | JL Collins
11/06/2023
462 | Pathfinders | JL Collins
In this episode: the power of pursuit, FU money, index investing, investing the difference, and the simple path to wealth. This week we are joined by the godfather of the FI movement himself JL Collins to discuss the themes of his new book While there is no perfect blueprint to mastering your money, there can be confidence and motivation to be found in the stories of others who have been in your position regardless of what part of the path to FI you are on! Though this journey requires you to have to take action and make necessary financial changes, it is never about complexity and deprivation. But rather, this journey is about recognizing the freedoms gained while pursuing FI, not just when you reach your FI goal! The moment you begin to simplify your path to wealth, you will find yourself becoming a stronger and happier individual! JL Collins: Check Out JL's New Book Website: Other Book: Timestamps: 1:25 - Introduction 4:27 - The Power Of Pursuit And FI 13:48 - Buying Your Freedom 22:34 - There's No Secret To Money 30:35 - The Power Of Index Investing 43:29 - Spend Less, Avoid Debt, And Invest The Difference 51:27 - Following The Simple Path To Wealth 56:26 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: Earn $1,050 or more with these Share FI by sending a friend Find a new side hustle with one of our Commission-free investing with
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461 | Taking Space for Yourself and Community | October Roundup
10/30/2023
461 | Taking Space for Yourself and Community | October Roundup
In this episode: community, building fun into your life, college planning, fear, following threads, and travel rewards. This week we are rejoined by Ginger for another installment of the Round-Up, where we catch up and discuss our favorite takeaways from this past month’s episodes. From learning how to best prepare your child for the college application process, to the importance of introspection to pinpoint and work with your fears, and finally to re-framing your fearing relationship with money. It’s been a great month with content full of information that all listeners can relate to, no matter what part of the FI journey they are in! Timestamps: 0:37 - Introduction 3:23 - Community 12:45 - Building Fun Into Your Life 17:51 - Usage Of Travel Rewards 29:51 - College Planning 37:18 - Following the Threads, Fear, And Money 49:32 - Retirement Investing/The Mailbag 57:00 - Conclusion Resources Mentioned In Today’s Episode: More Helpful Links and FI Resources: Earn $1,050 or More With These Share FI by sending a friend Find a new side hustle with one of our Commission-Free Investing with
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460 | Preparing for the Cost of College | Brian Eufinger
10/23/2023
460 | Preparing for the Cost of College | Brian Eufinger
In 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): Free information sessions on college admissions (6-7x / year, including one on 11/14 @ 7pm EST): How to self-prep for the SAT/ACT: Edison Prep Bios: 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: More Helpful Links and FI Resources: Earn $1,050 or More With These Share FI by sending a friend Find a new side hustle with one of our Commission-Free Investing with
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