ChooseFI

In this episode: travel rewards, IRA conversions, working with FAFSA, health insurance, and the FI journey. This week we are joined by community member and listener Connie to discuss the beginning of her FI journey, and the transformative steps she’s taken to further maximize her journey for her and her family. With so many resources available to learn and assist you while on the path to FI, the influx of information may seem overwhelming. Knowing how to organize the information will allow you to utilize the hacks and tricks that take some of the pressure off, and grant the opportunity for you to adapt and create the life you want! Resources Mentioned In Today’s Episode: Abundo Wealth Advice-Only Network Nectarine Point.me Seats.aero PointsYeah The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238 Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney | ChooseFI Ep 447 Find Your Local ChooseFI Group The Courage to Take Action | EconoMe LIVE with Doc G | ChooseFI Ep 488 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 22 July 2024

In this episode: FI numbers, financial independence, approaching problems differently, and adjusting spending to accommodate FI. This week join our host Brad in celebrating 500 episodes of Choose FI, as he talks about the start of his FI journey, and highlights topics and episodes from the last few years. The path to FI isn’t just about simplifying your life, but empowering yourself and taking action to design and create the life you want to be living. And while the list is endless for how FI can improve your life, the community you find while on this journey is just as rewarding. Thank you to our listeners and supporters for being on this journey with us! Resources Mentioned In Today’s Episode: “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins The Safe Withdrawal Rate Series The Side Hustle | The Unspoken Lever of FI | ChooseFI Ep 30 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 15 July 2024

In this episode: limiting beliefs, flipping the script, looking for evidence, empowering beliefs, and imposter syndrome. This week we are rejoined by Jessica from The Fioneers, to discuss the idea of limiting beliefs, from knowing how to identify and define them, to learning to work through and overcome them using her six strategy method. To put this method into practice we workshop two examples of limiting beliefs from FI community members, Samantha and Kyle. While having fears is natural and part of what makes us human, it’s important to be able to distinguish what fears are valid and what limiting beliefs are just holding you back. Whether it’s believing you’re not doing enough on your FI journey, or having a fear of failure, making sure you are continuously working to empower yourself and sift through the self doubt will ensure you live your life with more power and confidence! The Fioneers: Website: thefioneers.com YouTube: @fioneers Free eMail Course: Overcoming Limiting Beliefs Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by JL Collins “Wherever You Go There You Are: Time-Tested Principles To Get Unstuck, Expand Your Influence, and Illuminate Your World” by Kyle Collins Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 8 July 2024

In this episode, exercise, sleep, nutrition, mind body activities, social relationships, heat and cold exposure. This week we are joined by Dr. Bobby DuBois author and host of Live Long and Well podcast, where we will be discussing health optimization and wellness by deep diving into each of what he calls the 6 pillars: Exercise, Sleep, Nutrition, Mind-Body Work, Heat and Cold Exposure, and Social Relationships, while also providing some actionable takeaways you can do in order to live your healthiest life! The best part of the FI journey is you can create and live the life the way you want, but neglecting your physical and mental health may not allow you to thrive the way you want as you inevitably age. Taking the time and the space to prioritize your health, whether it be big or small, can make such a difference over time, and can ensure you’ll be living long into your retirement and well after! Dr. Bobby Dubois: Website: drbobbylivelongandwell.com Website: Madrone Springs Ranch Podcast: Live Long and Well with Dr. Bobby Resources Mentioned In Today’s Episode: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 The Matt Walker Podcast Yoga Nidra – Guided Meditation to Relax | 10min InsightTimer Deep Healing by davidji Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 1 July 2024

In this episode: full retirement age, earnings, spousal benefits, survivor benefits, filing for benefits, and the earnings test. This week, Mike Piper joins the show to talk all things social security and answer listener questions that arose from our last social security related conversation back in episode 474! Whether it is discussing the full retirement age, discussing when to file for benefits, and different situations and their correlating differing types of benefits, Brad and Mike cover your burning questions so when the time comes you can catapult yourself into retirement confident and comfortably. While the topic of social security can often be confusing, being informed and prepared based on you and your families situation can make approaching it a lot less formidable, so listen along now to be ready down the line when it is your time to file! Mike Piper: Website: opensocialsecurity.com Book: "Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less" by Mike Piper Resources Mentioned In Today’s Episode: Social Security Deep Dive | Denis Shapiro | ChooseFI Ep 474 SSA.tools Social Security Calculator Why Are ETFs (Sometimes) More Tax-Efficient Than Mutual Funds? Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 24 June 2024

In this episode: roth versus traditional IRA, second generation FI, FI and newlyweds, and retirement planning optimization. This week we are diving back into the listener Mail Bag with our returning guest Rachael Camp to answer questions from the community! Today we will be discussing the differences between Roth and Traditional IRAs and the future variables and factors you should consider, as well as discuss the new rules and considerations surrounding 529 plans and how to best financially plan when considering your children and your spouse. Listen along as YOU, the community, dictate the conversation with your hot-button FI questions! Rachael Camp: Website: rachaelcampwealth.com Twitter: @camp_wealth YouTube: @CampWealth Instagram: @campwealth Resources Mentioned In Today’s Episode: Mailbag: Spending Down to Zero, High Fee 401(k), Mini Retirements | Rachael Camp | ChooseFI Ep 485 Limits Of Tax Diversification And The Tax Alpha Of Roth Optimization Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy | ChooseFI Ep 476 Becoming Work Optional Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 17 June 2024

In this episode: real estate, lazy landlording, attracting the right tenants, finding ideal situations, and traveling. This week we are joined by returning guest James Lowery to discuss his “lazy landlord” concept to streamline and simplify real estate investing as well as set processes in place that not only make your life easier as a landlord but make it easy for your tenets as well! If you are on the FI journey and curious about adding real estate into your portfolio, whether it be long or short term rental properties, there are ways to make it a more simple process than you might think. With some planning and intentional action, the lazy landlording life could be well within your grasp! James Lowery: Website: rethinktheratrace.com eBook: Tenant Proof Your Property Resources Mentioned In Today’s Episode: Vegan Path To FI | ChooseFI Ep. 90 EconoME Conference “The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich” by Tim Ferris “The 4-Hour Body: An Uncommon Guide to Rapid Fat-Loss, Incredible Sex, and Becoming Superhuman” by Tim Ferris BiggerPockets James Lowery: How to Become a Lazy Landlord Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 10 June 2024

In this episode: financial freedom, starting your own business, you can't sprint forever, buying vs renting, and investing. This week we are rejoined by host of Financial Feminist podcast and creator of Her First 100K, Tori Dunlap, to fill us in on her journey with FI over the last few years, discuss what financial equity and the importance of building financial foundation and literacy among marginalized groups, as well as discuss how financial advice can differ for men and women. While money can be linked with stability and ease in one's life, the real power that comes from personal finance and independence is the freedom it allows you to not only change your life, but instill change in the communities around you. Although there can be times you feel guilt or shame when discussing financial literacy, there are endless resources at your disposal to educate and have you feeling confident. Tori Dunlap: Website: herfirst100k.com Book: “Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love” Podcast: Financial Feminist Instagram: @herfirst100k Where to Start: Her First 100k Quiz Resources Mentioned In Today’s Episode: Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 Marriage Kids and Money The Impact of Fees on Your Investment “The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life” by JL Collins RENTING VS. BUYING: WHAT’S RIGHT FOR ME? Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 3 June 2024

In this episode: doing everything but not at once, building your extraordinary life, optimizing your time, and what to do after FI. This week we are joined by Alan and Katie Donogan as well as my guest co-host Ginger live from the Design Your Extraordinary Life Weekend event in Las Vegas, where we will be discussing their exercise of envisioning what an extraordinary life can look like in nine designated areas of your life, as well as learning how identify and overcome limiting beliefs that can hold you back from achieving your dream life. Reaching your FI goal can radically change your life and usher in new freedom, but it doesn’t necessarily mean all your problems go away. While you may be focused on taking actionable steps to to hit your FI number, it's just as important to take actionable steps to build and create the life you want to be living! By taking account of certain areas of your life and identifying the areas and mindsets that need to be changed in order to achieve your extraordinary life, you will not only be on track to living your best life on your FI journey, but continuing to live it well after you reach the finish line! Alan and Katie Donegan: Website: alandonegan.com YouTube: The Donegans Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 EconoME Conference "The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living" by Ryan Holiday and Stephen Hanselman Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 27 May 2024

In this episode: RRTTLU, actual risk, actual return, balancing portfolios, understanding your timeline, taxes, and legal situations. This week we are joined by Jesse Cramer of the “Best Interest" blog and podcast to discuss “RRTTLLU”, an acronym that provides a framework and guide of some of the factors one should consider when they start investing. While investing on your own can seem complex with many factors to consider such as your risk tolerance, the potential tax liabilities, and returns; being realistic about what you want to get out of your investment and what timeline you are on will only ensure your success. Considering some of these factors before you start investing can help you to choose your investments smartly, and give you the confidence and self-assurance for when changes or uncertainties come and go! Jesse Cramer: Website: bestinterest.blog Podcast: The Best Interest Podcast Resources Mentioned In Today’s Episode: Join ChooseFI’s Facebook Group! Investor Policy Statement | ChooseFI Ep 189 Bucket Your Money The Safe Withdrawal Rate Series “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Answering Your Questions on How to Access Money Before 59.5 | ChooseFI Ep 491 RRTTLLU: That’s Not a Typo, Investors Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 20 May 2024

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, “How to Access Your Retirement Accounts Before 59.5,” 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 edge of your golden years. Sean Mullaney: Website: fitaxguy.com Website: mullaneyfinancial.com Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideos Timestamps: 1:05 – Introduction 1:58 – Optimizing for 72t 10:25 – Roth Conversions and Premium Tax Credits 22:21 – Roth 401k and Roth IRA 27:08 – The Pro-Rata Rule 36:17 – PUQME and HSA’s 45:39 – Using Retirement Withdrawals for Education 50:40 – The Rule of 55 and Solo 401k’s 55:11 – Marriage and Taxes 61:32 – IRA and Health Insurance Premiums 64:13 – Conclusion Resources Mentioned In Today’s Episode: How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Forget About Money Podcast Accessing Retirement Accounts Prior To Age 59.5 Do You Have a Hidden Roth IRA? Retirement topics: Exceptions to tax on early distributions Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 13 May 2024

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 ahead and hit play so you can see for yourself! New ChooseFI shirts are now available here! Timestamps: 0:47 – Introduction 1:42 – Events and Community 11:59 – Travel Rewards 21:41 – Meditation 24:46 – Brad’s Phoenix Trip 31:40 – What We Are Listening To/Mini Retirements 45:11 – Travel Points/Wins 51:32 – Conclusion Resources Mentioned In Today’s Episode: The Donegans Afford Anything EconoME Conference Insight Timer Mile High FI Coach Carson Mr. Money Mustache & Car Free Living at Culdesac | MHFI 207 Forget About Money How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Mindy On Money Retire Often Best Tools for Booking Hotels with Points & Miles with Greg the Frequent Miler Points Yeah Points.Me Seats.Aero Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 6 May 2024

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 here! Trip of a Lifestyle: Website: tripofalifestyle.com Instagram: @tripofalifestyle Crambetter: crambetter.com 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: Trip of a Lifestyle to All US National Parks | ChooseFI Ep 226 We Took a 3-Month Vacation and Came Home $26,000 Richer How We Saved $100k in 2 Years on Teacher Salaries We Vacationed Our Way to $1 Million by Age 33 (and You Can Too) Inside the Investment Portfolio of Early Retirees Pay Yourself Last: Why You Don’t Need A Budget Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 29 April 2024

In this episode: courage from community, what to do next, overwhelm, finding community, and the evolution of FI. Live from the EconoMe Conference 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: earnandinvest.com Podcast: The Earn and Invest 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: Retire Often FI Freedom Retreat Mr Money Mustache CampFI FinCon "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Josh Overmeyer EconoMe Alan Donegan Find Your Local ChooseFI Group Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars | ChooseFI Ep 483 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 22 April 2024

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: wisestewardshipfp.com Podcast: Military to Financial Planner 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: Blended Retirement VA education benefits for survivors and dependents Everything About The Military’s Survivor Benefit Plan SBP Financial Analysis Tools Daniel Kopp Estate Planning for Military Families | Military Money Manual Podcast Episode 83 Accredited VSO Representatives Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 “Military in Transition’s Guide to The Survivor Benefit Plan: Navigating the SBP” by Forrest Baumhover How VA Disability Compensation Affects Military Retirement Pay Income Tax and Rental Properties When You’re in the Military MFAA ChooseFI US Military Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 15 April 2024

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: “TL;DR: Financial Literacy for New York City Public School Teachers: Optimizing Financial Decisions Based On Your TRSNYC Benefits” by Christopher Tavers and Karl Fisch Instagram: @thewealthyeducator 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: Join ChooseFI’s Facebook Group! “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J. Stanley and William D. Danko “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki “Smart Couples Finish Rich, Revised and Updated: 9 Steps to Creating a Rich Future for You and Your Partner” by David Bach The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep 13 The Happy Body Millennial Revolution Karl Fisch Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 8 April 2024

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: www.rachaelcampwealth.com Twitter: @camp_wealth 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: “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts” by Annie Duke The Ratcheting Safe Withdrawal Rate – A More Dominant Version Of The 4% Rule? The guardrails approach is a flexible retirement withdrawal strategy: Here’s how it works Early Retirement Now The Problem with the 4% Rule (and Why You Could Retire Even Sooner) The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire Often Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 1 April 2024

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: Dave Ramsey Travel Rewards | ChooseFI Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 The 10 Pillars Of FI Modern States The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386 All the Hacks Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount) Get a cheaper phone plan with Mint Mobile

Transcribed - Published: 25 March 2024

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: yieldandspread.org Rebecca’s Coaching Program: Coaching for do-gooders 1 For The World: 1fortheworld.org Jack’s LinkedIn: Jack Lewars 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: Join Your Local ChooseFI Group “The Life You Can Save: How to do your part to end world poverty” by Peter Singer School of Hard Knocks “Practical Ethics” by Peter Singer GiveWell The Life You Can Save “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins Yield & Spread’s DAF Series “Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back” by William MacAskill Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 18 March 2024

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: talentstacker.com Facebook: Salesforce for Everyone Salesforce 5 Day Challenge: Take the FREE 5-Day Challenge Podcast: Salesforce for Everyone 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: The Hidden Job Market | ChooseFI Ep 379 CampFI Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117 Trailhead Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 15 March 2024

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: spark-fin.com LinkedIn: Danielle Miura Twitter: @Daniellemiula 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: Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 11 March 2024

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: @DeanTTraining Website: deanturnertraining.com 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: Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419 The New Science of Muscle James Clear, Atomic Habits — Simple Strategies for Building (and Breaking) Habits, Questions for Personal Mastery and Growth, Tactics for Writing and Launching a Mega-Bestseller, Finding Leverage, and More (#648) Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 8 March 2024

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: milehighfi.com Newsletter: Join the Mile High FI Club 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: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472 Mr Money Mustache JL Collins "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 The Stages and Checkpoints of FI | ChooseFI Ep 324 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 4 March 2024

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: stockinvesting.school Website: longtermmindset.co Twitter: @BrianFeroldi LinkedIn: Brian Feroldi 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: The Motley Fool "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194 Risk Parity Radio "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 26 February 2024

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: “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear Atomic Habits | James Clear | ChooseFI Ep 157 “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Just Keep Buying: Proven ways to save money and build your wealth” by Nick Maggiulli BitWarden “The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence Williams I Will Teach You To Be Rich Book your custom student loan plan “Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi Risk Parity Radio “Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt Walker The Matt Walker Podcast Peter Attia Ginger’s New Sheets My First Million Podcast Prof G Show Pivot Podcast Todoist Dean Turner Training Send Us A Voicemail Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 19 February 2024

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: The Shockingly Simple Math Behind Early Retirement Intestate Succession The Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI") Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 12 February 2024

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: fitaxguy.com Website: Mullaney Financial and Tax Twitter: @SeanMoneyandTax YouTube: @SeanMullaneyVideos FIRE in Vegas: Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City. 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: Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471 The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R Retire On 72(T) Payments 72(t) Payments in Google Sheets Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 5 February 2024

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: fsadvocates.com 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: SSA.gov Social Security Fact Sheet Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 29 January 2024

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: theretirementmanifesto.com Book: "Keys to a Successful Retirement: Staying Happy, Active and Productive in Your Retired Years" by Fritz Gilbert Case Study: From Food Stamps to FIRE: A Case Study on Retirement Planning 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: From Food Stamps to FI | Theresa | ChooseFI Ep 453 New Retirement SSA Tools Open Social Security SSA.gov How To Determine When To Claim Social Security (Retirement Manifesto) The Retirement Manifesto Net Worth Template "Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill Gifford What Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 22 January 2024

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: thefioneers.com YouTube: The Fioneers 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: Living Without Regret w/ Hospice Doctor (Slow FI Meetup) Find Your Local ChooseFI Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 15 January 2024

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: measuretwicefinancial.com LinkedIn: Cody Garrett 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: The DIY Financial Plan | EP 352 Find Your Local ChooseFI Group Measure Twice Financial Calculator See Healthcare Plans and Prices Measure Twice Planners Preview: How to Review a Federal Tax Return Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 8 January 2024

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: All The Hacks Newsletter: All The Hacks 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: Silicon Valley FI | Chris Hutchins | Grove | ChooseFI Ep. 71 Financial Independence Without a Six Figure Salary Reflecting on All the Hacks, Valuing Time and Focusing on the Year Ahead Early Retirement Now Safe Withdrawal Rates Series Copilot Kubera ProjectionLab Die With Zero: Net Fulfillment Over Net Worth Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 1 January 2024

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: Navish Bahl 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: "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" By Andrew Hallam "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446 CIT Bank Review: High Interest Rate Options Find your Local ChooseFI Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 25 December 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: From Vision Board to Action: A FI Success Story | Rakesh | ChooseFI Ep 436 Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305 From Blood Cancer To The Boston Marathon | Boyd Dunleavey | ChooseFI Ep 394 Millionaire Educator House Hacking With Coach Carson | ChooseFI Ep 16 Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 18 December 2023

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): campfi.org Diania (EconoMe Conference): economeconference.com (10% off using code "choosefi") Amy (FI Freedom Retreat): fifreedomretreats.com 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: Stacking Benjamins Find Your Local ChooseFI Group Join ChooseFI’s Facebook Group Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 11 December 2023

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 "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness." 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: "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness" Podcast: Journey to Launch Website: journeytolaunch.com Socials: @journeytolaunch 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: Jamila Souffrant | Fail Forward | Journey to Launch | ChooseFI Ep. 73 "The Tail End" by Tim Urban Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

Transcribed - Published: 4 December 2023

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: Beginning of a New Era | ChooseFI Ep 392 “Art & Fear: Observations On The Perils (and Rewards) of Artmaking” by David Bayles Creating Your Entrepreneurial Flywheel | Nathan Barry | ChooseFI Ep 455 CIT Bank Review: High Interest Rate Options 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

Transcribed - Published: 27 November 2023

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 "Made Whole: The Practical Guide to Reaching Your Financial Goals" 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: thebudgetnista.com Get You Copy of Tiffany's New Book Coming Out on November 21st 2023: "Made Whole: The Practical Guide to Reaching Your Financial Goals" Tiffany's Last Book: "Get Good with Money: Ten Simple Steps to Becoming Financially Whole" 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: Get Good With Money | Tiffany Aliche the Budgetnista | ChooseFI Ep 310 From Financial Imperfection to America’s Favorite Budget Expert | Tiffany Aliche | ChooseFI Ep 240 The Great Man Within The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal | ChooseFI Ep. 66 CIT Bank Review: High Interest Rate Options 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

Transcribed - Published: 20 November 2023

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: www.frugalfriendspodcast.com Podcast: The Frugal Friends Podcast Newsletter: The Friend Letter 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: Why Everyone Needs Dave Ramsey and Why You Should Ignore Him | ChooseFI Ep. 5 Leave Us A Review 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

Transcribed - Published: 13 November 2023

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 "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them." 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 "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them" Website: jlcollinsnh.com Other Book: "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" 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: "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung 10 Reasons People Invest in Hedge Funds A Wealth Of Common Sense 32 Things to Know about Following The Simple Path to Wealth Time Machine and the Future Returns for Stocks 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

Transcribed - Published: 6 November 2023

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: FI is Fun FinCon The Great Man Within EconoME Conference (Coupon Code "choosefi" for 10% Off!) CampFI FI Freedom Retreats Find Your Local ChooseFI Group "The Inheritance Games" By Jennifer Lynn Barnes "The Blade Itself" by Joe Abercrombie Mailbag: Cover Your Expenses | Rachael Camp | ChooseFI Ep 457 Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 A Healthy State of Panic | Farnoosh Torabi | ChooseFI Ep 458 Follow the Thread | Cory Muscara | ChooseFI Ep 459 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

Transcribed - Published: 30 October 2023

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): 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

Transcribed - Published: 23 October 2023

In this episode: spiritual bypassing, curiosity, fear, wellbeing, inflection points, and what the body stores. This we are re-joined by Cory Muscara to discuss the benefits of practicing mindfulness while embarking on the FI journey, the concept of spiritual bypassing, and the positive benefits that come from being present. An important part of the FI journey is learning to take actionable steps to better your life, and a large part of this requires introspection and honest reflection of where you are in your life. Through the practice of meditation and setting intentions, it may allow you to recognize patterns that harm you or keep you from enjoying life in the present. While working through triggers or anxieties can be uncomfortable, mindful practices can be the vehicle to move you from discomfort to a place of control and confidence in your life. So while you may be putting all your mental energy into reaching your FI goal, remember that getting to the finish line is not what this journey is about, but rather the positive effects and changes that come from taking control of your life and being present! Cory Muscara: To join Cory's daily text list text "choosefi" to 631-305-2874 Website: Practicing Human Book: "Stop Missing Your Life: How to be Deeply Present in an Un-Present World" Instagram: @corymuscara Timestamps: 1:56 - Introduction 2:34 - The Cost of Relocation 6:28 - The Danger Of Spiritual Bypassing Through FI 16:52 - Curiosity and Fear 27:22 - What The Body Stores 33:18 - Money and Well-being/Inflection Points 40:46 - Taking Control and Following The Thread 48:12 - Conclusion Resources Mentioned In Today’s Episode: Mindfulness And FI | Cory Muscara | ChooseFI Ep 61 "Influence, New and Expanded: The Psychology of Persuasion" By Robert Cialdini Headspace "The Body Keeps the Score: Brain, Mind, and Body in the Healing of Trauma" by Bessel van der Kolk MD 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

Transcribed - Published: 16 October 2023

In this episode: fear, anxiety, FOMO, talking about money, endings, self development, exposure, and the fear of loneliness. This week we are joined by Farnoosh Tarabi where we will be discussing the topic of fear and anxiety, reinterpreting FOMO, and how to recognize and use your fears and anxieties to work with you in order to reach your financial goals. While we can sometimes interpret our own fear as a weakness, many times these fears and anxieties can be a secret weapon, ones that motivate us and usher in necessary change that can make a difference in the path that we are on. In some cases, it can be a fear of missing out on opportunities. Other times it can be a fear of endings. But no matter the fears, learning to recognize the underlying feelings and meanings can ultimately help you on the path to FI! Remember, an important part of this journey requires introspection, and while it may be uncomfortable to sit with your fears and anxieties, working with them, rather than against them may just be the superpower you didn’t know you had. Farnoosh Torabi: Check out Farnoosh's new book "A Healthy State of Panic! Follow Your Fears to Build Wealth, Crush Your Career, and Win at Life" Timestamps: 2:12 - Introduction 3:24 - The Other Side of Anxiety's Coin 8:23 - Fear and Finance/Talking About Money 16:41 - The Fear of Rejection 25:22 - The Fear of Missing Out/The Fear of Loneliness 39:33 - The Fear of Exposure 45:29 - The Fear of Endings 50:03 - Conclusion Resources Mentioned In Today’s Episode: So Money Podcast "The Anatomy of Anxiety: Understanding and Overcoming the Body's Fear Response" by Ellen Vora "When She Makes More" by Farnoosh Torabi 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

Transcribed - Published: 9 October 2023

In this episode: the 4% rule, second generation FI, retirement saving, 529's, 401k's, and is it too late for FI? This week we joined by Rachel Camp of Camp Wealth for another installment of Mail Bag, where we will be answering some questions sent in by our listeners. Together, we cover topics surrounding the 4 percent rule, starting the FI journey “late”, the importance of tax diversity in your retirement accounts, and the potential benefits and drawbacks to 529 plans. On the path to FI, the community this journey brings can be the best resource, and answering any questions you may have is our way to ensure you’re well on your way to FI, as well as help others in the community who may be navigating similar scenarios! Rachael Camp: Website: rachaelcampwealth.com Twitter: @camp_wealth Timestamps: 1:09 - Introduction 3:22 - Can It Be Too Late For FI?/Credit Card Debt 18:25 - The 4% Rule And Early Retirement 27:02 - Withdrawing Earnings 40:06 - Not Maxing Out Your 401k? 50:03 - 529's and Financial Aid 57:04 - Second Generation FI 72:10 - Conclusion Resources Mentioned In Today’s Episode: Subscribe to The FI Weekly! The Safe Withdrawal Rate Series "Die With Zero: Getting All You Can from Your Money and Your Life" By Bill Perkins FICalc How and Why to Set up a Roth IRA Conversion Ladder 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

Transcribed - Published: 2 October 2023

In this episode: the importance of starting, everything is negotiable, talentstacking, building your flywheel, and Ginger! As September comes to a close, it’s once again time for another Roundup episode! This week we are rejoined by Ginger, where we will be revisiting the topics of our September episodes and discussing our favorite takeaways and the talking points that stood out to us. From the importance of perseverance on your path to FI and embracing the community this journey brings, and negotiating salary with confidence, to finally skill stacking and the teaching opportunities it may bring for you and others! So lets look back on what FI can look like from the different points of view of our past month’s guests, and move into October better informed and better prepared! Timestamps: 0:35 - Introduction 2:02 - Taxes And After-Tax Brokerage Accounts 9:55 - The Importance Of Starting/Community 19:52 - Decision Making Strategy/Focusing On The Future 23:53 - Everything Is Negotiable/Being Prepared And Doing the Work 31:31 - Talentstacking And Building Your Flywheel 36:14 - What Your Money Can Do For You 41:55 - Reviews And Conclusion Resources Mentioned In Today’s Episode: FI is Fun From Food Stamps to FI | Theresa | ChooseFI Ep 453 Find Your Local ChooseFI Group CampFI EconoME Conference "Widen the Window: Training Your Brain and Body to Thrive During Stress and Recover from Trauma" by Elizabeth A. Stanley Salary Negotiation & Early Retirement | Financial Mechanic | ChooseFI Ep 454 Creating Your Entrepreneurial Flywheel | Nathan Barry | Ep 455 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

Transcribed - Published: 25 September 2023

In this episode: it's not easy it's simple, the flywheel, being consistent, skilling up, the gift of time, and what money can provide. This week we are joined by founder and creator of ConvertKit, Nathan Barry to discuss his entrepreneurial journey and how the fundamentals of FI helped drive him to create and build a successful business. We often discuss the importance of skill stacking when on the journey to FI, but we sometimes forget to touch on the trial and error that comes with learning and creating something new for yourself. While you can’t expect to start something new and be faced with little to no challenges, this leaves more opportunities for personal growth and important lessons! So whether it’s learning a new side hustle or starting a business, it’s important to remember that you may not always know how to do something perfect when you begin. You should not count yourself out or give up when you don’t see instant results, but rather reach out to new communities and take the lessons in stride! Though it takes time and effort, it’s worth it! Nathan Barry: Website/Newsletter: nathanbarry.com Twitter: @nathanbarry Business: convertkit.com Timestamps: 1:23 - Introduction 3:24 - Nathan and FI 15:56 - Not Burning the Boats 22:26 - It's Not Easy, But it's Simple/Unique Messengers 33:00 - Being Consistent, Showing Up, and Skilling Up 44:22 - The Flywheel 58:01 - What Money Can Provide/The Gift of Time 70:16 - Conclusion Resources Mentioned In Today’s Episode: Mr. Money Mustache Physician on FIRE "The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future" By Chris Guillebeau "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Tail End School of Greatness Podcast 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

Transcribed - Published: 18 September 2023

In this episode: salary negotiation, knowing your worth, doing your own research, anchoring, and facing job offers. We often talk about the importance of shifting out of a scarcity mindset towards an abundant one, and this can mean leaving a job for a new one, or even asking for a higher wage. But how do you overcome the guilty feelings that can arise when wanting to level up? This week we are re-joined by the Financial Mechanic to discuss the art and steps to successful salary negotiating, from doing your research to collaboratively working with hiring managers, and learning to handle the discomfort and self doubt that can come when asking for more. While negotiating can make you feel uncomfortable or even intimidated, it’s important to remind yourself that asking for what you want does not mean you are begging. Rather, it means you know your worth and are advocating for yourself and your future! Though it takes practice, learning how to confidently negotiate can make a difference in your present but make all the difference in your future and your FI goals! Financial Mechanic: Website: financialmechanic.com Twitter: @fimechanic Timestamps: 1:05 - Introduction 5:21 - The Win-Win of Salary Negotiation 14:40 - Delay Talking About Salary 18:42 - Doing Your Research 25:33 - Knowing Your Worth 29:21 - The Negotiation 36:44 - Negotiation is About More Than Salary 41:10 - Accepting, Rejecting, and Making Your Decision 44:49 - Updates From The Financial Mechanic 53:25 - Conclusion Resources Mentioned In Today’s Episode: How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211 Glassdoor 1 Year of Early Retirement (With Numbers) 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

Transcribed - Published: 11 September 2023

In this episode: the importance of community, finding financial literacy, pulling the levers of FI, and the hot seat. We’ve heard incredible stories of FI from many of our listeners, but this week we are lucky to hear from someone who overcame so much in order to achieve the life she always wanted. This week we are joined by one of our listeners Teresa, where we discuss her incredible story of navigating and overcoming debt as a single mother to building a strong foundation of financial literacy and knowledge for herself and her daughters! Some of us on the path to FI may not have grown up surrounded by great financial models, and maybe some of our listeners may feel overwhelmed with the new tips and knowledge that FI brings, but please remember that feeling unprepared is no reason to count yourself out on this journey! Your past failures or mistakes shouldn’t hold you back from building the life you want and the life you deserve, but rather they should motivate you to learn and grow into the best future version of yourself! Timestamps: 1:06 - Introduction 2:52 - Theresa's Story 9:02 - Awakening 16:31 - Finding Financial Literacy and What Came With It 22:22 - The Importance of Community 31:36 - You've Recovered Financially, Now What? 39:43 - Pulling The Levers of FI 49:02 - The Opportunity FI Provides 55:37 - Theresa Takes The Hot Seat 64:41 - Conclusion Resources Mentioned In Today’s Episode: Dave Ramsey Coach Carson "Everyday Cheapskate's Greatest Tips" By Mary Hunt "Retire Inspired: It's Not an Age, It's a Financial Number" By Chris Hogan Financial Peace Graduates | What Next? | Andy Hill | ChooseFI Ep 68 Welcome To The FI Community | ChooseFI Ep. 100 "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins Grumpus Maximus 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

Transcribed - Published: 4 September 2023

In this episode: spending for value, mastering your finances, what nourishes you, limiting beliefs, and getting the best out of yourself. The end of August is rapidly approaching which means it is time for another round-up episode. To close out the month this time we are joined by Katie Gatti from "Money with Katie" to discuss all the lessons we picked up from the last month of ChooseFI! Whether it's planning a mini-retirement, designing what your want your life to look like, or forming your identity statements, our wonderful August guests have provided some amazing blueprints for you to start becoming the best version of yourself. So now that the summer is ending, it seems like a great time to take action on what we have learned together! Katie Gatti: Website: moneywithkatie.com Podcast: The Money With Katie Show Timestamps: 1:11 - Introduction 4:34 - Spending For What You Value 9:59 - Getting The Best Out Of Yourself 14:26 - Claiming The Life You Want 24:59 - Mastering Your Financials First 33:20 - Limiting Beliefs 44:48 - It's Not Too Late To Start/What Nourishes You? 50:42 - Identity Statements 54:38 - Conclusion Resources Mentioned In Today’s Episode: Why Decluttering Can Lead to Increased Brain Power "Goodbye, Things: The New Japanese Minimalism" by Fumio Sasaki Rubber Ducks and Systems for Land Investing | ChooseFI Ep 449 Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451 Catching up to FI | Becky Heptig & Bill Yount | Ep 450 "Four Thousand Weeks: Time Management for Mortals" by Oliver Burkeman "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins Miss Excel Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

Transcribed - Published: 28 August 2023