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Answering Listener Questions on asset allocation, retirement strategies, and the intricacies of real estate investing. With Brad Barrett and Rachael Camp. Whether you are pondering upon the backdoor Roth IRA strategy or seeking clarity on managing funds without a 401k, this episode is for you!
Public Service Announcement: Importance of filing the Beneficial Ownership Information form for legal entities by December 31st 00:01:21.
Mailbag Questions:
How to Invest Without a 401k: Options include traditional IRAs and Health Savings Accounts (HSAs), while noting contribution limits. 00:03:43, 00:04:12. Company Matches in Retirement Accounts: Highlighted as a crucial opportunity to maximize savings 00:09:12. Backdoor Roth IRA: A legal way for high earners to sidestep income limits for Roth IRA contributions 00:15:09. Asset Allocation: Discussion on the complexities of asset allocation, particularly as one approaches retirement, and the impact of sequence of returns risk 00:24:07. Real Estate Investing: Key considerations and the risks associated with real estate investments 00:56:01.Questions:
What can I do if my employer doesn’t offer a 401k?
Consider options like a traditional IRA or a health savings account. 00:04:12How do I manage sequence of returns risk in retirement?
It's crucial to have a cash reserve and bonds as a cushion against market downturns. 00:26:36What should I consider when investing in real estate?
Understand cash flow, assess the market, and account for all potential expenses and vacancies to avoid risks. 00:58:08Actionable Takeaways:
Review and potentially set up a traditional IRA if your employer doesn't offer a 401k. 00:04:12 Consider maintaining a cash buffer for the first few years of retirement to mitigate risks. 00:26:36 Maximize your retirement account contributions to include any employer matches. 00:09:12 "Avoid reverse dollar cost averaging by holding onto equities during market downturns." 00:39:28 "Company matches in retirement accounts offer unmatched returns—don’t miss out!" 00:09:12 "Explore diverse account types for effective financial management." 00:10:00**Disclaimer
Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
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Justin David Carl shares his remarkable journey from being $80,000 in debt and working in Hollywood nightlife to achieving financial independence and impressive fitness goals. He discusses key principles that guided his transformation, including the importance of environment, community, accountability, tracking metrics, and embracing a growth mindset.
Key Topics and Takeaways00:02:44 Justin's Awakening Moment
Discovering financial independence through Mr. Money Mustache and ChooseFI. Justin shares his early struggles with debt and the turning point that launched his journey.Overcoming Debt and Personal Challenges
Justin candidly discusses his past, including addiction and the shame spiral from unresolved financial issues. He emphasizes that confronting these struggles was key to his transformation. "Depression can serve as a reset for your psyche."The Role of Coaches in Growth
The impact of hiring coaches for guidance in both fitness and financial success.Tracking as a Tool for Success
Justin emphasizes the importance of tracking both financial metrics (expenses, savings rate) and fitness metrics (nutrition, workouts). Key Quote: "What gets measured gets managed." 00:48:40 "Boost your savings rate to build wealth faster." 00:32:49Principles for Continuous Growth
Justin shares three core principles: You are the average of the five to ten people you spend the most time with. You are a product of your environment. You are what you consume. Action Item: Evaluate your current environment and the people you are spending your time with. Additional Resources Fit Rich Life Coaching: fitrichlifecoaching.com Savings Rate Tracker: fitrichlifecoaching.com/tracker Workout Program: fitrichlifecoaching.com/workoutTim Ferris Article on Mr Money Mustache The Shockingly Simple Math of Early Retirement
Social Media Follow Justin on Instagram: @JustinDavidCarl "It's never too late for a second chance." 00:18:03 "Your consumption shapes who you are." 00:56:02 Discussion Questions How can tracking financial habits influence our spending? 00:32:33 What strategies can we implement from a growth mindset perspective? 00:20:38 -
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TJ shares his financial journey and experience reaching financial independence, focusing on intentional savings and the joy of family life. Early influences and educational backgrounds shaped his approach to finance, leading to a strategic path that included tracking net worth and undertaking regular financial meetings with his wife. The episode dives into the challenges they faced, especially when dealing with unexpected medical circumstances and highlights the delicate balance between enjoying life and making prudent financial decisions, ultimately aligning with their core values.
Key Takeaways:
Intentional Savings: Be proactive in saving and planning for financial independence. 00:03:37
Tracking Net Worth: Regularly evaluate your financial progress.00:10:02
Community Support: Rely on your community during tough times. 00:29:16
Flexibility in Planning: Adapt financial strategies as life changes occur. 00:36:02
Maintain a Positive Mindset: Approach challenges with optimism and agency. 00:42:08
Actionable Takeaways:
Implement regular financial meetings with your partner to track and discuss financial health.
Consider unexpected medical costs when planning for financial independence.
Maintain a positive and adaptable mindset when facing life challenges.
Action Items:
Start tracking your net worth regularly to understand your financial progress.
Set aside time for financial discussions with your partner every few months.
Plan for unforeseen medical costs in your financial independence calculations.
Related Resources:
The Simple Path to Wealth FaithFi (formerly CompassOne)Discussion Questions:
What aspects of financial planning do you think are most important?
How can community support impact your personal finance journey?
What strategies can you adopt to maintain a positive mindset during challenges?
How can tracking net worth change your financial perspective?
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Episode Summary
Clint Murphy returns to ChooseFI, sharing his transformative journey labeled "FI and Choose," emphasizing the importance of choosing a lifestyle that values personal growth and meaningful connections. The hosts discuss their experiences at financial independence events, highlighting how these gatherings foster deep conversations that extend beyond finances. They explore the contrast between accumulating wealth and Pursuing a simpler, more intentional life filled with enriching experiences, including joy from low-cost activities and being present in relationships.
Key Topics DiscussedConnection Through FI 00:02:20
The importance of community in financial independence events. Shared experiences and personal growth discussions among participants.The Power of Vulnerability 00:06:00
Opening up in conversations to foster deeper connections. Embracing quirks and eccentricities to enhance relationships.Simplicity and Enjoyment 00:10:30
Finding joy in low-cost activities, such as playing pickleball. The realization that enjoyment doesn’t require significant spending.FI and Choose Philosophy 00:46:00
The idea that achieving financial independence offers choices about how to live life. Aligning personal ambitions with the simplicity of life. Actionable Takeaways Explore Joyful Activities: Engage in activities that bring joy without high costs 00:10:30. Build Deeper Relationships: Foster relationships through open and vulnerable conversations 00:06:00. Related Resources The Growth Guide Podcast: thegrowthguide.com -
Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett
This episode dives into the strategy of capital gains harvesting, explaining how it can help individuals minimize taxes on investments and potentially realize tax-free income. We break down how this approach fits into financial independence planning, including key comparisons between capital gains and ordinary income, real-life scenarios, and important health insurance considerations for early retirement.
What strategies can you use to reduce your tax burden during retirement? How can understanding capital gains impact your long-term financial decisions? What role does income management play in health insurance planning for early retirement? Chapter Markers: [00:00:00] Introduction to Capital Gains Harvesting [00:01:38] Understanding Income Tax and Capital Gains [00:05:22] Tax Rate Comparisons: Ordinary vs. Capital Gains [00:20:07] Real-Life Case Studies [00:49:34] Key Takeaways and Best Practices Key Takeaways: Understand your capital gains tax rates to optimize when to sell investments. Use capital gains harvesting to realize profits without tax penalties. Plan retirement income carefully to maintain eligibility for health insurance subsidies. Links & Resources: Measure Twice Money Measure Twice Money YouTube Channel -
In this episode: building muscle for health, sacropenia, consistency and proper form, routines, and recovery.
This episode is a deep dive into muscle-building strategies, with actionable advice for beginners and experienced fitness enthusiasts alike. Brad and Dean Turner share practical tips on workout programming, nutrition, and recovery, making it a perfect masterclass for anyone looking to improve their health and strength.
Dean Turner: Website: deanturnertraining.com Twitter: @DeanTTraining 🔑 Key Themes Discussed: The importance of building muscle for health, longevity, and independence in later life Overcoming age-related muscle loss (sarcopenia) through resistance training Simplifying muscle-building techniques for beginners and experienced individuals The role of proper form, progressive overload, and consistency in muscle growth Common misconceptions about muscle growth and the science behind it Customizing workout routines based on individual schedules and goals The importance of recovery, rest, and nutrition in maximizing gains Practical advice on workout programming and exercise selection 🕒 Chapters: 00:00 – Introduction: The Importance of Muscle Building 02:00 – Age-Related Muscle Loss and Why Muscle Matters 06:00 – Customizing Workouts: 3-Day vs. 5-Day Programs 09:00 – Exercise Selection: Upper/Lower Body, Push/Pull 13:00 – How Muscle Growth Actually Works: The Science Explained 18:00 – Importance of Progressive Overload and Rep Ranges 22:00 – Common Workout Mistakes and How to Avoid Them 27:00 – Listener Questions: Setting Goals for Muscle Growth 33:00 – Understanding Rest Times and Recovery 40:00 – Importance of Nutrition: Protein and Macronutrients 45:00 – Creating a Sustainable Workout Routine 51:00 – Final Tips: Staying Consistent and Tracking Progress 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 “The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by J.L. Collins Hevy 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 -
In this episode: social engineering, pig butchering, cryptocurrency risks, scammer tactics, and avoiding being a victim.
This week Brad speaks with cyber security expert Tom who will be giving some updates on the landscape of cybersecurity, what targeted scams look like, as well as some actionable steps you can take to avoid these scams. Though it may seem that cybersecurity attacks are ever-evolving and may be harder and harder to avoid, there are ways to make yourself less vulnerable to attacks. Making sure you’re having open conversations about this topic with your friends, and especially your older family members is crucial and can make sure you avoid falling for these scams!
🔑 Key Themes Discussed: The rise of social engineering scams and how they manipulate victims “Pig Butchering” scams: how scammers build trust, then steal your money How cryptocurrency is used in scams and the risks involved Recognizing investment scams and protecting yourself from fraud The emotional and psychological tactics scammers use to isolate victims The role of AI and fake profiles in advanced scams Actionable steps to avoid becoming a victim The importance of spreading awareness to protect your family and friends Reporting scams and what to do if you’ve been a victim 🕒 Chapters: 00:00 – Introduction and Overview of Cybersecurity Threats 02:00 – What is Pig Butchering and How it Works 04:00 – Investment Scams and Social Engineering Explained 06:00 – How Scammers Build Relationships and Gain Trust 08:00 – Examples of Scams: Dating Apps, Fake Profiles, and Social Media 12:00 – Cryptocurrency in Scams: What to Watch Out For 16:00 – The Role of AI and Deepfakes in Cyber Scams 18:00 – Personal Stories: Victims Who Lost Everything 22:00 – Action Steps: How to Protect Yourself and Loved Ones 27:00 – How to Report Scams and Recover Funds 29:00 – Recognizing Scams in Everyday Life: Red Flags and Signals 34:00 – Final Thoughts and Preventative Tips 🔗 Mentioned Links and Resources: Securing Your Financial Life | ChooseFI Ep 397 Internet Crime Complaint Center (IC3) 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 -
In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation.
This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!
Jeremy Schneider: Website: personalfinanceclub.com Instagram: @personalfinanceclub 🔑 Key Themes Discussed: The pitfalls of overcomplicating personal finance and investment strategies The power of simplicity in financial management and investing Mistakes made in early investing: complex ETFs vs. simple index funds Jeremy’s journey from selling his company to managing a $2M windfall The surprising truth about target date funds and why simplicity often wins The concept of “the more I tinker, the worse it gets” in investment strategies Personal finance habits that persist from childhood and their impact on adult financial decisions Dividends vs. reinvesting: pros, cons, and psychological aspects Understanding the differences between fiduciary financial advisors and those incentivized to sell products Why financial simplicity and automation can lead to better outcomes 🕒 Chapters: 00:00 – Introduction to Jeremy Schneider 02:00 – Simplicity vs. Complexity in Financial Decisions 03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes 06:00 – Complex ETFs vs. Target Date Funds 08:00 – How Tinkering Can Lead to Worse Financial Outcomes 12:00 – Personal Finance Habits from Childhood 14:00 – Dividend Reinvestment: To Reinvest or Not? 18:00 – Simplifying Financial Life: Automating Investments 22:00 – The Dangers of Chasing Dividends 26:00 – Real-Life Examples of Bad Financial Advice 33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople 39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance 46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence 🔗 Mentioned Links and Resources: The 7 Sins of Investing Nectarine 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 -
In this episode: getting started early with FI, the 4% rule, retirement accounts, real estate, and safe withdrawal rates.
This episode is packed with actionable information that can help with maximizing your financial future, from house hacking to Roth conversions, and strategies for living off your investments. Brad and Rachael dive into real-world listener questions to help you navigate your FI journey with confidence.
Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
🔑 Key Themes Discussed: The benefits of getting started early with financial independence (FI) Evaluating the 4% rule and how to live off investments in retirement Understanding the difference between Roth vs. Traditional retirement accounts Tax strategies for early retirement and avoiding penalties House hacking as a way to reduce housing costs and boost savings Real estate as an investment: risks, rewards, and misconceptions Maximizing income while keeping expenses low for young professionals Safe withdrawal rates, dividends, and managing investments post-retirement The psychological aspects of early retirement and maintaining financial health 🕒 Chapters: 00:00 – Introduction to Mailbag with Rachael 01:00 – Starting Early with FI: Gabby’s Journey 03:00 – Roth vs. Traditional Retirement Accounts for Young Investors 06:00 – House Hacking and Real Estate Strategies 09:00 – How the 4% Rule Works for Early Retirement 12:00 – Income Maximization for Young Professionals 18:00 – Managing Dividends and Withdrawal Strategies in FI 24:00 – Safe Withdrawal Rates and Creating Your Own Dividend 31:00 – Listener Questions: Roth IRA Conversion Ladder 36:00 – Tax Strategies and Avoiding Penalties in Early Retirement 43:00 – Rethinking Real Estate and House Hacking Risks 51:00 – Wrap-Up and Final Thoughts on Financial Independence 🔗 Mentioned Links and Resources: Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp | ChooseFI Ep 505 Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp | ChooseFI Ep 496 How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 Drawdown Strategies: Karsten vs. Fritz | ChooseFI Ep 427 House Hacking With Coach Carson | ChooseFI Ep 16 Scott Trench | Set For Life | ChooseFI Ep 63 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 -
In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community.
This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn’t mean you should wait until you reach your goal to actually start making the moves to get there! Whether you’re near the finish line or just beginning, don’t wait to explore other possibilities that can elevate not only your FI journey but your life.
🔑 Key Themes Discussed: The emotional journey of downsizing and letting go of possessions Achieving CoastFI and the realization of financial independence The significance of mini-retirements and experimenting with lifestyle choices Personal growth and redefining goals in mid-life The psychological effects of decision-making in early retirement Creating space for joy and gratitude in life transitions Overcoming attachment to material possessions and past dreams Building community after major life transitions, such as moving and career changes 🕒 Chapters: 00:00 – Introduction: Ginger and Anne’s Journey 01:00 – Anne’s Recent Move and Downsizing 03:00 – Discovering Financial Independence Through the FI Formula 07:00 – Defining CoastFI and the Big Epiphany Moment 10:00 – Reflecting on Personal Goals and Letting Go of Past Dreams 13:00 – Experimenting with Mini-Retirements: Learning from the FI Community 16:00 – Downsizing: The Emotional Process of Letting Go 22:00 – Influence of Family Illness and Death on the FI Journey 27:00 – The Challenge of Winter Depression and Its Role in Change 31:00 – Selling the Family Home: Closure and Moving Forward 36:00 – Gratitude and the Practice of Being Present 40:00 – Taking the Leap: Early Retirement and What Comes Next 46:00 – Finding Community and Building a New Life After Moving 51:00 – The Courage to Try New Things and Embrace Discomfort 55:00 – Final Reflections on Joy, Curiosity, and Living Without Regret 🔗 Mentioned Links and Resources: Contact Anne: [email protected] “Disrupt Yourself, With a New Introduction: Master Relentless Change and Speed Up Your Learning Curve” by Whitney Johnson “The Artist’s Way: 30th Anniversary Edition” by Julia Cameron Retire Often Podcast Famous Failures “Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life” by Ovan Varol 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 -
In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate.
This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we’ve taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you’ll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week’s episode.
🔑 Key Themes Discussed: Financial Independence (FI) journey and making big life transitions The importance of experiencing challenging tasks to build resilience (“doing hard things”) Insights on taxes in retirement: why you may pay less than expected Travel hacks: optimizing family cruises and travel rewards points The psychological approach to financial success: The Gap and The Gain concept Personal health and wellness: Brad’s journey with hiking, saunas, and cold plunges Community wins: listener success stories on saving, investing, and achieving FI Health insurance strategies for early retirees Real estate strategies and long-term capital gains tax advantages Addressing common FI misconceptions and how to optimize your finances 🕒 Chapters: 00:00 – Introduction and Recent Trips 01:30 – Travel Rewards and Cruise Optimization 06:00 – Family Vacations and Cruise Hacks 08:30 – Colorado Trip and Doing Hard Things 10:00 – Hiking Challenges: Lessons from FI and Fitness 17:00 – Financial Independence Journey: Overcoming Obstacles 21:00 – The Gap and The Gain: Mental Shifts for Success 27:00 – Understanding Taxes in Retirement 35:00 – Health Insurance and Early Retirement Strategies 40:00 – Capital Gains Tax and Real Estate in FI 48:00 – Listener Questions and Real-Life Examples 55:00 – Community Wins: Listener Success Stories 59:00 – Travel Rewards Victory: Booking Free International Trips Resources Mentioned In Today’s Episode: “The Gap and The Gain: The High Achievers’ Guide to Happiness, Confidence, and Success” by Dan Sullivan and Dr Benjamin Hardy The Shockingly Simple Math Behind Early Retirement BiggerPockets Real Estate Podcast “Set for Life: Dominate Life, Money, and the American Dream” by Scott Trench 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 -
In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment.
In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you’re a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way!
🔑 Key Themes Discussed: The impact of rising interest rates on real estate markets in 2024 The “lock-in effect” and how low-interest mortgages affect housing supply Rent vs. buy decisions in today’s market The rise of multifamily and single-family housing supply, especially in regions like Austin House hacking in 2024: Is it still viable? The state of commercial real estate and multifamily investments How interest rate trends impact real estate investors Opportunities for investors in a downturn: Finding deals amidst crisis Syndications: Potential pitfalls, bad actors, and lessons learned for 2024 Real estate investment strategies: What to do with your mortgage and how to balance risk 🕒 Chapters: 00:00 – Introduction: Welcoming Scott Trench 01:00 – Rising Interest Rates and Market Effects 03:00 – Housing Supply and the Lock-in Effect Explained 04:30 – Rent vs. Buy: How the Calculus Has Changed 09:00 – The Build-to-Rent Industry and Single-Family Rentals 12:00 – House Hacking in 2024: Is It Still Worth It? 16:00 – Multifamily Housing Supply and Regional Trends 17:00 – Commercial Real Estate: What’s Happening Now? 20:00 – How Interest Rates Are Crushing Commercial Investors 24:00 – Opportunities Amidst a Crisis: Where to Find Deals 27:00 – The Real State of Syndications: Risks and Rewards 33:00 – Evaluating Syndicators: How to Find Good Deals in 2024 36:00 – Real Estate Investment Strategies: Notes, Funds, and Lending 43:00 – Pay Off Your Mortgage or Invest? 50:00 – Long-Term Real Estate Bets and Holding Strategies 56:00 – Wrap-Up: Key Takeaways and Final Thoughts 🔗 Mentioned Links and Resources: BiggerPockets The BiggerPockets Money Podcast 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 -
In this episode: surpriseFI, minimalism, frugality, emotional and psychological aspects of FI, and alternative lifestyles.
We often get a lot of great ideas and questions from the FI community, and what better way to answer some as well as inspire than bring in one of our own to discuss their journey! In this special Friday episode, Ginger is joined by member of the FI community, Kim, to discuss how she found herself on her “surpriseFI” journey. Together, the pair talks about balancing frugality and minimalism, the importance of designing the life you want, as well as share some resources and recommendations that helped her on her journey!
🔑 Key Themes Discussed: The journey to achieving Financial Independence (FI) through surprise and discovery Minimalism, frugality, and living below your means as a path to freedom Transitioning from work life to financial independence and early retirement Personal reflections on housing, relationships, and travel in post-retirement life Emotional and psychological aspects of financial independence Strategies for aligning personal values with financial decisions Exploring alternative lifestyles: hatchback camping, Peace Corps, and low-cost living 🕒 Chapters: 00:00 – Introduction and How Kim and Ginger Met 02:00 – Kim’s Journey to Surprise Financial Independence 06:00 – Experimenting with Early Retirement: Leave of Absence Strategy 09:00 – Living Frugally: Kim’s Minimal Spending Habits 12:00 – Kim’s Unique Housing Situation and Thoughts on Real Estate 15:00 – The Role of Minimalism in Achieving Financial Freedom 17:00 – Life After Retirement: Adventure, Travel, and Hatchback Living 23:00 – Challenges and Opportunities in Dating After FI 27:00 – Personal Growth, Goals, and the Desire for Meaningful Projects 33:00 – Financial Planning Tools and Resources for FI 35:00 – Balancing Frugality and Enjoyment: Traveling on a Budget 40:00 – Final Thoughts: Kim’s Recommendations for an Extraordinary Life 🔗 Mentioned Links and Resources: “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robinson, Joe Dominguez, and Mr Money Mustache. Contact Kim: [email protected] “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki Rich, Broke, or Dead? Post Retirement FIRE Calculator Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep. 18 Afford Anything with Paula Pant | Vicki Robin: Financial Independence After 70 [GREATEST HITS WEEK] 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 -
In this episode: 5% safe withdrawal rate, the three stories, psychology and personal finance, and community.
In this insightful episode of the ChooseFI Podcast, Brad chats with Frank Vasquez, a well-known figure in the financial independence community and the voice behind Risk Parity Radio. They delve into Frank’s journey from a career in law to becoming a personal finance expert, and explore topics like the 5% safe withdrawal rate, revealed preferences, and Frank’s three defining life stories. This conversation offers insight on approaching personal finance, investments, and life after achieving financial independence. Frank shares his unique blend of academic rigor, personal curiosity, and his thoughtful approach to living with purpose in the post-FI world.
🔑 Key Themes Discussed: Understanding the 5% Safe Withdrawal Rate (SWR) and its practical application. How revealed preferences shape financial and life decisions. The three stories Frank lives by: the Curious Child, the Starfish Thrower, and the Mexican Fisherman. How narrative psychology impacts our personal finance decisions. Personal experiences in managing life post-financial independence. The intersection of economics, personal finance, and storytelling. Practical insights on podcasting, community engagement, and sharing financial knowledge. 🕒 Chapters: 00:00 – Introduction to Frank Vasquez and Risk Parity Radio. 03:00 – Frank’s Journey: From Law to Personal Finance Expert. 07:30 – Understanding the 5% Safe Withdrawal Rate. 15:00 – The Three Stories Frank Lives By. 25:00 – Revealed Preferences: What Do We Really Want? 35:00 – Narrative Psychology and Personal Finance Decisions. 45:00 – Post-FI Life: Teaching, Relationships, and Purpose. 55:00 – Frank’s Thoughts on Podcasting and Community. 🔗 Mentioned Links and Resources: Risk Parity Radio Big Think video on Narrative Psychology with Jane Goodall and Terry Crews “Build the Life You Want: The Art and Science of Getting Happier” by Arthur Brooks and Oprah Winfrey The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194 Find Your Local ChooseFI Group 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 -
In this episode: overcoming fears, the importance of community, community wins, reaching FI goals, and ripple effects.
This week Brad is re-joined by Ginger for another installment of the round-up, where we will be discussing topics such as new 529 plans, the importance of making connections within your community, and actionable steps for overcoming anxieties while on your FI journey! Additionally, it wouldn’t be a round-up episode without as well as shouting out some frugal wins from our wonderful community! While these episodes are not only a great way for us to give you personal updates and perspectives, it’s an even better way for us to highlight some of the tips and tricks you’ve picked up on your respective FI journeys!
🔑 Key Themes Discussed: The psychological aspects of financial independence and overcoming fear. Building a fulfilling life by focusing on fulfilling days. Strategies for maximizing benefits from 529 plans. The importance of community and connection in the FI journey. Overcoming anxiety and embracing serendipity in life choices. Practical steps for financial checkups and optimization. Leveraging travel and experiences for personal growth and connection. Exploring frugality and financial prudence in everyday decisions. 🕒 Chapters: Introduction to the Episode with Brad and Ginger Highlighting Community Wins and Stories Embracing Challenges and Overcoming Fears in Personal Growth Listener Voicemail – Updates on Reaching FI Goals New Rules and Tips for 529 Plans Frugal Wins of the Week Big Financial Moves and Their Ripple Effects Conclusion and Reflections on Building Community and Connection 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 Making FI Fun Again | ChooseFI Ep 502 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 -
In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects.
This week we are joined by Kyle Nolan, creator and founder of ProjectionLab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he’s faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it’s important to remember that you don’t have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback!
🔑 Key Themes Discussed: Kyle’s journey from traditional employment to entrepreneurship. The development and impact of ProjectionLab in the FI community. The role of personal passion in creating and growing a side hustle. Overcoming fear and indecision when launching a new venture. The importance of a supportive community in achieving financial independence. 🕒 Chapters: Introduction to Kyle Nolan and ProjectionLab Kyle’s background and the start of his FI journey The motivation behind creating ProjectionLab The challenges and rewards of entrepreneurship The pivotal moment of launching ProjectionLab on Hacker News The significance of mental headspace in pursuing side projects Brad’s reflections on proof of concept and personal finance journey How to encourage children to explore their passions in technology 🔗 Mentioned Links and Resources: ProjectionLab (Use Code "CHOOSEFI" for 10% off!) Richmond Savers 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 -
In this episode: debt and investing, the 4% rule, Roth 401k and traditional 401k, and total return investing.
This week we are back with a listener Mail Bag featuring returning guest Rachael Camp! Together, we will be answering questions and giving our feedback on nuanced topics asked by the community! Listen along for discussions about the 4 percent rule, how taxes are factored into your FI number, investing in dividends, paying down debt versus investing, and finally a shortlist of actionable steps one could take if they are young and beginning their FI journey. There is much to discuss and so much more to learn this week as we tackle your FI questions!
Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.
🔑 Key Themes Discussed: Introduction to Financial Independence Debt vs. Investing The 4% Rule and Taxes Roth 401k vs. Traditional 401k Dividends vs. Total Return Investing Second Generation FI 🕒 Chapters: Getting Started with FI Debt vs. Investing 4% Rule and Tax Implications Roth 401k vs. Traditional 401k Dividends vs. Total Return Investing Second Generation FI 🔗 Mentioned Links and Resources: Find Your Local ChooseFI Facebook Group Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460 How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238 How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475 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 -
This week on ChooseFI, Brad welcomes Devon, a 22-year-old National Guard member and aspiring mechanical engineer, to discuss the power of intentionality and personal finance! Together, Brad and Devon explore how small, deliberate actions can create a domino effect in shaping one's financial future. Devon shares his journey from joining the National Guard at 17 to discovering financial independence through ChooseFI, and how his disciplined approach to life has led him to save for his first home, maximize military benefits, and even inspire his peers.
🔑 Key Topics Discussed:
The Domino Effect: How Small Actions Lead to Big Changes Financial Independence: Starting Young and Staying Disciplined Maximizing Military Benefits: Tuition Assistance and Beyond Real Estate Goals: Saving for a Down Payment with Intentionality Mentorship and Networking: Learning from Industry Professionals Practical Financial Tips: Budgeting, Saving, and Investing Wisely🕒 Chapters:
Introduction to Devon's Story and His Early Start in FI The Domino Effect: How Devon Visualizes His Financial Future Navigating College and Military Life: Tuition, Benefits, and Budgeting Saving for Real Estate: Devon's Plan to Buy His First Home Mentorship and Networking: Building a Successful Career Path Practical Financial Tips for Young Adults and Military Members Intentional Living: Balancing Work, School, and Personal Goals Key Takeaways and Final Thoughts🔗 Devon's Links and Resources Mentioned in the Show:
Devon's Website: Freedom By the Day Liberated Mind Library Instagram Contact Devon via Email: [email protected] -
In this episode: Roth IRA conversion ladder, starting with the end in mind, investing for growth or stability, and retirement planning.
While we have covered Roth IRA Conversion Ladders on ChooseFI before, we have never in the past taken such a deep dive into the subject like we do in this week's episode! Once again, we are joined by friend of the show Cody Garrett from Measure Twice Money, as we cover a high-level-FI approach to the Roth IRA conversion ladder and ways one could approach propelling themselves into a FI fueled retirement!
Cody Garrett:
Website: Measure Twice Money YouTube: @MeasureTwiceMoneyResources Mentioned In Today’s Episode:
Measure Twice Money ChooseFI Podcast Resources The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep. 17R Roth IRA Conversion Ladder Case Study | ChooseFI Ep. 163R 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) Get a cheaper phone plan with Mint Mobile -
In this episode: travel rewards, frugality, companion passes, international travel, intentional spending, and listener questions.
This week Brad is re-joined by Ginger as together they go back to basics during our returning round-up segment! This time around, the pair will be talking about recent travels and hacks they’ve used, travel rewards tips, answering some community questions, and shouting out some of your FI wins of the week! This episode is a great way to crowd-source new tips for people just beginning their FI journey, from learning how to navigate companion passes when traveling, to learning how to both save and spend your money with intentionality!
Resources Mentioned In Today’s Episode: Friday Roundup | Huge Announcement | ChooseFI Ep. 22R Travel Rewards ChooseFI Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep. 12 The True Cost Of Car Ownership | ChooseFI Ep. 22 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 - Vis mere
