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ChooseFI | Financial Independence Podcast

Market Fluctuations | Stick to Your Plan

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Investing, Careers, Business

4.85.2K Ratings

🗓️ 2 November 2018

⏱️ 65 minutes

🧾️ Download transcript

Summary

The Kickstarter campaign for "Playing with Fire" raised over $100,000—more than double its goal. That kind of momentum doesn't happen by accident. It happens when a community rallies behind a shared vision of financial independence. This episode captures the energy from Chautauqua, where attendees formed connections that extend far beyond spreadsheets and savings rates. The conversations range from the psychology of generous giving to practical solutions for crushing student debt in expensive fields like dental school. Key Topics & Timestamps [00:01:26] Chautauqua Experience Recap Reflections on the community and action-oriented mindset witnessed at Chautauqua. Forming lifelong connections can enhance your journey toward financial independence. [00:15:05] Kickstarter Success for Playing with Fire The documentary "Playing with Fire" raised over $100,000, surpassing its initial goal of $40,000. Support community-driven projects that resonate with financial independence values. [00:16:38] Generous Giving Discussion with Michael Peterson Michael shares insights on the joy of giving and how fulfillment often comes from spending on others. Key Quote: "True fulfillment comes from spending on others, not just ourselves." [00:17:02] [00:50:05] Listener Voicemail on Dental School Alternatives Listeners discuss alternatives for managing student debt in dental school, including using scholarships and choosing affordable locations. Strategic decision-making in education can significantly reduce future debt burdens. [01:02:39] Wrap-up and Book Drawing The episode concludes with a drawing for a copy of one of three financial books, encouraging community engagement. Actionable Steps [00:12:06] Ask for self-pay cash discounts on medical bills to potentially save significant amounts. [00:04:29] Utilize price alert tools (like CamelCamelCamel.com) for smart purchasing strategies. [00:07:31] Engage in community activities to foster support while pursuing financial independence. [00:59:45] Evaluate alternative educational paths that may have lower debt burdens. [00:32:38] Reach out to local schools and educators to offer support and resources for their needs. Notable Quotes "Joy and purpose often thrive in the simplest of settings." [00:19:41] "Choosing an affordable location maximized my savings during dental school." [00:59:31] "Empowering yourself means taking charge of your earning potential." [00:55:28] "Recognizing your role as a steward can create lasting impact." [00:29:19] Related Resources Playing with Fire Documentary [00:15:40] CamelCamelCamel.com [00:04:29] Key Terminology FI — Financial Independence, allowing individuals to live without relying on traditional employment. [00:01:05] Geo-arbitrage — The practice of leveraging geographical differences in cost of living to enhance savings. [00:21:00] Stewardship — The responsible management of resources with a focus on creating a positive impact. [00:30:00]

Transcript

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0:00.0

On today's episode, we recap our Chattacqua experience and break down the results for the incredible Kickstarter event for the plane with fire documentary that's gonna be released in early 2019.

0:12.6

Brian calls in to share some context for the market fluctuations over the last couple weeks.

0:17.3

Chris calls in to share some ideas on how to support second and third generation fire.

0:21.9

Josh and Matt call in to weigh in on Sam's case study in episode 98 and Hansi asks the community to help her brainstorm,

0:30.0

frugal or inexpensive activities for couples to enjoy in October and November.

0:34.5

Welcome to the ultimate crowd source personal finance show. This is your Friday Roundup.

0:40.7

You're listening to Choose Applied Radio.

0:45.2

The blueprint for financial independence lives here.

0:52.0

If you're looking to unlock the secrets to financial independence and early retirement, you're in the right place.

1:02.9

Stay tuned and join a community of like-minded people who are getting all fans to be here and taking control of their lives in the pursuit of financial independence.

1:12.1

Choose FI, your home for financial independence online.

1:22.0

All right, we're back from Shatakwa so much to catch up on and to help me with this, I have my co-host Brad here with me today.

1:32.0

How you doing, buddy? Hey, Jonathan, I am doing quite well.

1:35.2

Yeah, we just got back from quite a long time in Greece.

1:38.5

Actually, you were there for almost two weeks, right?

1:40.6

You had a family vacation before Shatakwa.

1:42.9

It's amazing. So Shatakwa has afforded me the ability to almost get a two for one.

1:46.6

I get to hang out with all of our friends from all over the world and we're meeting

1:50.5

sometimes in a different country.

1:52.2

In many cases, then it kind of adds on to my passport.

1:54.8

And then two, since my family is actually international and my wife is from Zimbabwe,

1:59.4

and sometimes it can be difficult to meet back at her home.

...

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