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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI323: Creating a Work Optional Life w/ Rachael Camp

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Business, Investing

4.6593 Ratings

🗓️ 30 January 2024

⏱️ 74 minutes

🧾️ Download transcript

Summary

In this week’s episode, Patrick Donley (@JPatrickDonley) sits down with Camp who is a Certified Financial Planner to talk about how to create a work optional life. You’ll learn what Rachael’s first steps and questions are to her clients, how she manages her own financial life, what the biggest mistakes people make with their finances, her thoughts on renting vs. buying, and so much more! Rachael is a Certified Financial Planner and owner of Camp Wealth where she helps high-earners and business owners build a preserve wealth. She is also co-host of The Work Optional podcast and lives in Denver, Colorado. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro. 01:41 - What it was like growing up in a family that was heavily involved in finance and investing. 07:26 - What it was like working at JP Morgan directly out of college. 09:19 - How it was partnering with her father doing financial planning. 12:44 - Why introverts can make great salespeople. 13:50 - How Jerry Seinfeld influenced her to write. 14:50 - What is money and how to become better with it. 17:14 - What her first steps and first questions are with new clients. 25:37 - How Rachael manages her own financial life. 26:41 - How the FIRE movement influenced her. 31:05 - Why everyone should create a memory dividend fund. 36:27 - Why she started her podcast, Becoming Work Optional. 39:31 - How Twitter has influenced and advanced her career. 50:56 - What her tech stack looks like for managing her finances. 54:23 - Why it’s not worth your time to try to beat the market. 58:01 - What the biggest mistakes she sees people making with their finances. 59:38 - What her thoughts are on renting vs. buying. 67:20 - How the ideas of Naval Ravikant have influenced her. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Recommended book: Quiet by Susan Cain. Recommended book: Sapiens by Yuval Noah Harari. Recommended book: The Psychology of Money by Morgan Housel. Recommended book: Die with Zero by Bill Perkins. Recommended book: The Obstacle is the Way by Ryan Holiday. Recommended book: Common Sense on Mutual Funds by Jack Bogle. Recommended book: Deep Work by Cal Newport. Recommended book: The Almanack of Naval Ravikant by Eric Jorgenson. Recommended book: The Creative Act by Rick Rubin. Recommended book: Four Thousand Weeks by Oliver Burkeman. Check out the books mentioned in the podcast here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick: Twitter Connect with Rachael: Twitter | YouTube Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0

You're listening to TIP. But that's the way that I prefer to create financial goals, is just to say,

0:06.4

what is our ideal day, what are the experiences that we want to have, what are the ways that we want

0:11.6

to help other people, what's our legacy? And then we work backwards. We say, okay, this is how we can

0:16.8

start to achieve those goals. But I don't understand how anyone can do proper financial planning

0:21.8

without understanding that and understanding too how people view money and their childhood experiences

0:27.0

with money even.

0:31.0

Hey, everybody. In this week's episode, I had the pleasure of sitting down and talking with

0:34.8

Rachel Camp, who is a certified financial planner, to talk about how to create a work-optional life. You'll learn what Rachel's first steps are

0:42.0

and questions that she asks her clients, how she manages her own financial life, what the biggest

0:46.5

mistakes people make with their finances are, her thoughts on renting versus buying, and so much

0:51.0

more. Rachel is a certified financial planner and owner of Camp Wealth,

0:55.3

where she helps high earners and business owners build and preserve wealth. She's also co-host

1:00.2

of the Work Optional podcast and lives in Denver, Colorado. Rachel and I touched on a lot of

1:05.3

applicable personal finance topics in this one, and there's a lot of great actionable ideas,

1:10.1

which I know that I really enjoyed,

1:11.9

and I hope you do too. So without further delay, let's dive into today's episode with Rachel Camp.

1:21.9

You're listening to Millennial Investing by the Investors Podcast Network. Since 2014, we interviewed successful entrepreneurs,

1:30.3

business leaders and investors to help educate and inspire the millennial generation.

1:35.8

Now for your hosts, Patrick Donnelly.

1:51.4

Hey everybody, welcome to the Millennial Investing Podcast. I'm your host today, Patrick Donnelly, and joining me in the studio today is Rachel Camp. Rachel, welcome to the show. Thanks, Patrick. So

1:56.8

happy to be here. I am really happy to have you. We've already been talking a half hour before the show, you know, started recording.

2:04.3

So I wanted to jump in and talk about your early days growing up in South Bend, Indiana.

...

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