meta_pixel
Tapesearch Logo
Log in
ChooseFI | Financial Independence Podcast

Race or Journey

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Business, Investing

4.8 β€’ 5.2K Ratings

πŸ—“οΈ 25 May 2018

⏱️ 60 minutes

🧾️ Download transcript

Summary

Your sister hit an 85% savings rate by living at home after college β€” proof that unconventional housing choices can supercharge your path to financial independence. This mashup episode revisits the Adventure Rich interview and tackles listener questions on everything from library hacks to house hacking strategies. Jonathan and Brad dig into practical ways to build wealth through local adventures, free educational resources, and leveraging family dynamics, while listeners share their own creative approaches to maximizing savings. Key Takeaways Living with Parents as a Savings Strategy [00:01:40] Jonathan's sister achieved an 85% savings rate by living at home post-college, demonstrating how this strategy can be a powerful tool for young adults. House Hacking Explained [00:03:55] Jonathan and Brad discuss house hacking β€” renting out portions of your home to cover mortgage costs β€” as a way to build financial strength through your 20s. Community Engagement and Resources [00:39:01] Suzanne calls in to highlight the value of local libraries for free educational resources, such as coding classes through platforms like Treehouse. Experiences Over Material Goods [00:22:25] The episode encourages listeners to engage with their local communities for adventures that don't carry high costs, promoting the idea that meaningful experiences don't have to be expensive. Lifelong Learning and Family Involvement [00:08:28] Brad reflects on instilling a mindset of lifelong learning in children through educational resources provided by libraries. Chapters [00:00:00] Introduction [00:01:40] Sister's Savings Strategy [00:12:40] Reviewing last week's guest [00:38:55] Feedback from the community [00:39:01] Library Resources Key Quotes "Maximize your savings by house hacking in your 20s." [00:03:55] "Adventure fuels a rich life." [00:29:50] "Challenge societal norms for a wiser financial path." [00:05:01] "Getting to your first 100K is a critical milestone." [00:08:58] Terminology House Hacking - A real estate strategy that involves renting out part of your home to cover mortgage costs. [00:03:55] The 4% Rule - A rule of thumb for retirement spending, suggesting that retirees can withdraw 4% of their retirement savings each year without running out of money. [00:16:46] Related Resources Adventure Rich website [00:12:40] Code.org for coding education [00:08:26]

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to the ultimate crowdsource personal finance show today. We're going to be reviewing this past week's episode with

0:06.5

Misadventure Rich from adventure rich.com

0:09.3

Talking about this idea of really exploring your city and

0:14.2

Creating your own adventure which ultimately is what this journey is all about after that

0:18.0

We're going to crowdsource the remainder of the show bringing your thoughts your feedback your ideas

0:22.2

Suzanne calls in and shares library hack specifically talking about foreign language programs childcare inner library loans movies and more

0:29.2

Pieros money mentor wants to weigh on how you can use your local library to access tree house and we ask Brad if

0:35.7

He's considered what his high school reunion would actually look like welcome to the ultimate crowdsource personal finance show

0:42.0

This is your Friday roundup

0:44.9

You're listening to choose apply radio

0:49.4

The blueprint for financial independence lives here

1:00.0

If you're looking to unlock the secrets to financial independence and early retirement

1:05.2

You're in the right place stay tuned and join a community of like-minded people who are getting off the

1:11.9

And taking control of their lives in the pursuit of financial independence choose F.I. Your home for financial independence online

1:29.2

Well, Brad I'm really excited about this episode. Thanks for joining me today. How you doing? I'm doing great Jonathan

1:36.0

Yeah, everything is going quite well by me. What's new and exciting by you?

1:40.0

Well one cool thing my sister actually texted me this past week to let me know that she has hit a 85% savings rate

1:47.5

Wow

1:48.2

Seriously, absolutely seriously now. I got a kind of knock her legs out from underneath there a little bit

1:53.8

Of course because she is living with our parents

1:56.1

But I actually wanted to highlight that is saying that that's not necessarily an exception

2:00.6

That's a super powerful tool that a lot of people don't consider even if they have available to them now some people

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright Β© Tapesearch 2026.