Episodes
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2764:
Mr. Money Mustache explains why focusing on hardcore saving can be more impactful than striving for masterful investing. He emphasizes that while achieving exceptional investment returns is rare and unpredictable, consistently saving a significant portion of your income guarantees substantial financial growth and security.
Read along with the original article(s) here: https://www.mrmoneymustache.com/2011/04/26/why-hardcore-saving-is-much-more-powerful-than-masterful-investing/
Quotes to ponder:
"By concentrating on SAVING rather than minute details of investing, you are stacking the odds in your favor while also freeing up time for the real deal - maximizing your fun in a cash-efficient way."
"When it comes to investing, I’ve put a much bigger focus on how much I’m investing rather than the return on those investments."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2763:
Karen Trefzger delves into the fallacies of ownership in "The Lies We Tell Ourselves About Ownership," challenging the notion that acquiring items brings fulfillment or improves self-worth. She explores the hidden costs and responsibilities that come with possessions, illustrating through personal anecdotes that happiness and success are not commodities one can own. Her insights encourage a minimalist approach to personal finances and possessions, prompting reflection on the true value and impact of our buying choices.
Read along with the original article(s) here: https://www.maximumgratitudeminimalstuff.com/2024/04/the-lies-we-tell-ourselves-about-ownership.html & https://www.maximumgratitudeminimalstuff.com/2024/04/how-minimalism-has-made-me-rich.html
Quotes to ponder:
"Ownership begins with payment. You sign a contract or a loan document, swipe a credit card, or hand over your hard-earned cash. After a very short 'I got it! It's mine!' high, you get used to having whatever-it-is and it's no longer quite so exciting."
"You aren't your stuff and it will never make you more lovable. Give people a chance to love you for you."
"The only truth about ownership is that if you own something, it's yours to pay for and take care of. It doesn't solve your problems or change you into something you're not."
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Episodes manquant?
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2762:
Kristena Eden of Core Living Essentials implores us to break free from living up to others' expectations and instead embark on a personal journey of self-discovery. Her powerful insights encourage us to question whose life we're truly living and offer practical steps to reclaim our authenticity through introspection and embracing our unique paths.
Read along with the original article(s) here: https://corelivingessentials.com/are-you-not-living-the-life-everyone-thinks-you-should/
Quotes to ponder:
"Life can drain the happiness, motivation, and joy out of us."
"The question we should start with is: are we trying too hard to live their ideal and not our own true path?"
"To stop that cycle, start with the question: whose life am I living?"
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2761:
Discover the surprising costs of your 401(k) in Logan Allec's exploration of the often overlooked fees draining your retirement savings. Allec illuminates hidden charges like 12b-1 fees, administration costs, and transaction fees, offering crucial advice on how to minimize their impact and maximize your future funds.
Read along with the original article(s) here: https://savingjoyfully.com/blog/hidden-401k-fees-no-one-talks-about
Quotes to ponder:
"Your 401(k) may be charging you for a variety of things that you’re not aware of depending on how you use the account."
"While some 401(k) providers don’t charge fees, the vast majority do, and you may be surprised when you realize how much of your contributions are covering these costs rather than your retirement."
"12b-1 fees are legally limited to 1% of your total assets, but a single percent can have a substantial impact on your retirement savings."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2760:
Lisa Harrison of MadMoneyMonster.com reveals the simple yet potent "1-4-4 Rule" that has been crucial in growing her family's wealth. This easy-to-follow strategy involves setting and accomplishing one financial goal per season, allowing for both small victories and significant progress towards financial freedom.
Read along with the original article(s) here: https://madmoneymonster.com/2017/09/29/the-1-4-4-rule-we-use-to-grow-our-wealth-to-hopefully-staggering-levels/
Quotes to ponder:
"The absolute BEST thing we ever did to help us reach our goals is track our net worth."
"Simply stated, the 1-4-4 rule is as follows: 1 = A Single Year, 4 = Winter, Spring, Summer, Fall, 4 = 1 goal per season."
"With everything we have going on in our lives, coming up with a detailed road map for financial tasks can seem tedious, at best."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2759:
Explore the art of balancing today's desires with tomorrow's needs in Chelsea Brennan’s enlightening discussion on personal finance. In a candid conversation with her mom, Chelsea delves into the challenges of saving versus spending, providing a narrative that connects the dilemma of short-term satisfaction to long-term security. Discover actionable insights and relatable experiences that will guide you in managing your financial future wisely.
Read along with the original article(s) here: https://smartmoneymamas.com/saving-is-hard-but-that-doesnt-mean-you-shouldnt-do-it/
Quotes to ponder:
"The average Social Security check last year was $1,360 a month. Take a moment and imagine yourself at 65 or 70, trying to live off $1,360 a month."
"You remember what life could look like if you ignore the future for too long. You protect that future version of yourself first, within reason, and then you take advantage of our endless ability to adapt as humans by living happily on what's left."
"How do you balance spending for happiness today with saving for the future?"
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2758:
April Dykman explores the pros and cons of automatic payments in her article for GetRichSlowly.org, revealing the hidden pitfalls of setting payments on autopilot. Through personal anecdotes and expert insights, she argues that while autopay offers convenience, it may also relinquish control over financial outgoings, leading to unexpected charges and financial mismanagement.
Read along with the original article(s) here: https://www.getrichslowly.org/are-automatic-payments-worthwhile/
Quotes to ponder:
"Autopay is great because it's convenient, requiring no action on our part to avoid late payment fees."
"Autopay can be too automatic, it puts control into the hands of the debtor because they can go into your account."
"Personally, I recommend going with online bill payment, but not autopay. Autopay puts control in hands of debtors, but with online bill pay, you're in control."
Episode references:
Robert Long: https://www.kiplinger.com/author/robert-long
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2757:
Chris Reining explores the surprisingly anticlimactic reality of becoming a millionaire and the profound life lessons learned along the way. Through personal anecdotes and financial insights, he uncovers the true value of financial freedom - less about the money and more about the autonomy to live life on one's terms.
Read along with the original article(s) here: https://chrisreining.com/becoming-a-millionaire/
Quotes to ponder:
"You might think when your account rolls over to seven digits that fireworks light up the sky. I can tell you that doesn't happen."
"The financial milestone that really mattered to me was making my first $1,000 from investing."
"Money is infinite. But time is finite."
Episode references:
FIRECalc: https://www.firecalc.com/
Death Calculator: https://www.ssa.gov/
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2756:
Kalen Bruce explores ten diverse investment options beyond the traditional stock market in "10 Ways to Invest Without the Stock Market," revealing alternatives like real estate, bonds, and more unusual avenues like collectibles and wine. These methods cater to different risk profiles and personal interests, offering insights for those seeking to diversify their investment strategies.
Read along with the original article(s) here: https://freedomsprout.com/invest-without-the-stock-market/
Quotes to ponder:
"20% of small businesses fail in their first year, 30% of small business fail in their second year, and 50% of small businesses fail after five years in business. Finally, 70% of small business owners fail in their 10th year in business."
"When you invest in bonds you’re investing in debt. That may not sound pretty, but it’s a legitimate investment."
"Everyone has to live somewhere. You can invest in rental properties that will produce an income, or you can buy raw land in hopes that it will increase in value."
Episode references:
Your Money or Your Life: https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2755:
Explore the diverse world of investments beyond the stock market with insights from Kalen Bruce of FreedomSprout.com. This episode unpacks unconventional investment options that offer security and growth, proving that true financial diversity spans across various asset classes.
Read along with the original article(s) here: https://freedomsprout.com/invest-without-the-stock-market/
Quotes to ponder:
"The US dollar is economically weak, but politically and realistically strong - a weird combination, but it’s true."
"Focus on the future productivity of the asset you are considering. If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on."
"With my two small investments, I thought only of what the properties would produce and cared not at all about their daily valuations."
Episode references:
Berkshire Hathaway's official letters archive: https://www.berkshirehathaway.com/letters/letters.html
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2754:
Explore how stress influences weight gain in Sara Lindberg’s enlightening piece on Healthline.com. Lindberg delves into the physiological processes that link stress to increased abdominal fat, underlining why managing stress is crucial not only for weight control but for overall health. Discover practical tips and expert advice on combating stress-related weight gain effectively.
Read along with the original article(s) here: https://www.healthline.com/health/stress/stress-and-weight-gain
Quotes to ponder:
"Stress can have a noticeable effect on your body, from tight muscles and headaches to feeling irritated, overwhelmed, and out of control."
"Your body responds to stress by increasing levels of cortisol, which gets the body ready to 'fight or flee'."
"This is why so many people respond to stress by going for comfort food."
Episode references:
American Psychological Association (APA): https://www.apa.org/
TED Talk by Dr. Kelly McGonigal: https://www.youtube.com/watch?v=RcGyVTAoXEU
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2753:
Kumiko from TheBudgetMom.com outlines crucial advice on eliminating unsecured debt, student loans, and mortgages before retirement to secure a financially stable future. By proactively addressing these debts, you can enjoy your retirement with peace of mind and freedom from financial burdens.
Read along with the original article(s) here: https://www.thebudgetmom.com/3-debts-you-should-eliminate-before-retirement/
Quotes to ponder:
"The simple truth is, you can't afford to have a majority of your income eaten up by debt payments."
"If you have a credit card with a $5,000 balance with 18% interest, it will take you roughly 84 months to pay it off."
"It's critical to take steps to ensure you have an effective debt management strategy in place and to take early action steps to eliminate debt before you retire."
Episode references:
Federal Student Aid - Income-Driven Repayment Plans: https://studentaid.gov/manage-loans/repayment/plans/income-driven
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2752:
Explore the essential steps for opening a 529 college savings plan, guided by Caitlin See from StudentLoanPlanner.com. Discover the advantages of different state plans, tax benefits, and investment options to tailor a plan that best suits your family's educational and financial goals.
Read along with the original article(s) here: https://www.studentloanplanner.com/how-to-open-529-plan/
Quotes to ponder:
"Each state offers its own 529 plan, with the exception of Wyoming. But that doesn’t mean you’re limited to choosing your own state’s plan."
"Age-based portfolios are the most common 529 plan investment option because they take the guesswork out of investing."
"Depending on where you live, you’ll need to determine if you’re required to use a 529 plan specific to your state in order to claim its tax benefit."
Episode references:
College Savings Plans Network: https://www.collegesavings.org/
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2751:
Discover effective strategies to transform financial stress into a proactive force in "7 Ways to Tame Financial Stress for a Wealthier Future" by Kathleen Coxwell. Learn how understanding stress responses, changing perceptions, and engaging in strategic financial planning can empower you to secure a more prosperous future.
Read along with the original article(s) here: https://www.newretirement.com/retirement/retirement-stress-2/
Quotes to ponder:
"Understand that Avoidance is an Evolutionary Reaction to Threats, but Not Effective for Financial Stress."
"Your mindset can actually impact how stress impacts you."
"When you choose to connect with others under stress, you can create resilience."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2750:
In "The Four Pitfalls of Financial Planning," Lisa Whitley illustrates crucial missteps in effective financial planning, from ignoring underlying issues to overlooking personal habits that derail financial goals. She urges a holistic, well-rounded approach to planning that accounts for personal risks and life’s unpredictabilities to safeguard future financial security.
Read along with the original article(s) here: https://womenwhomoney.com/financial-planning-pitfalls/
Quotes to ponder:
"If you don’t know where you are going, you’ll end up someplace else."
"It is disturbingly common in personal finance to conflate a specific tactic with an actual, enduring answer to a financial problem."
"A plan is rarely, if ever, perfect. Still, the wrong strategy can leave you someplace you don’t want to be."
Episode references:
Social Security Administration: https://www.ssa.gov/
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2749:
JL Collins elucidates the power of simplicity in investment strategies in "Stocks - Part V: Keeping It Simple, Considerations and Tools." He advises against complex investments which often incur high costs with lower returns, advocating for index funds as a simpler, more efficient method. Collins emphasizes the importance of understanding one's investment phase and risk tolerance to craft a personal investment plan that promises stability and growth over time.
Read along with the original article(s) here: https://jlcollinsnh.com/2012/05/09/stocks-part-v-keeping-it-simple-considerations-and-tools/
Quotes to ponder:
"Simple is good. Simple is easier. Simple is more profitable."
"The more complex an investment the less likely it is to be profitable."
"Nothing money can buy is more important than your fiscal freedom."
Episode references:
Vanguard Total Stock Market Index Fund: https://investor.vanguard.com/investment-products/mutual-funds/profile/vtsax
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2748:
Mike Ballew of EggStack.com explores the dilemma of being "house rich and cash poor," a situation where homeowners have significant equity locked in their property but lack sufficient liquid assets for a comfortable retirement. He discusses potential solutions like downsizing, reverse mortgages, and turning a home into an investment property, providing insights into the advantages and drawbacks of each approach.
Read along with the original article(s) here: https://eggstack.com/blog/2021-06-27-House-Rich-and-Cash-Poor/
Quotes to ponder:
"Owning a home is an important part of wealth-building and a cornerstone of The American Dream, but as we age, it can feel like an albatross."
"Downsizing to a smaller home has many advantages, including reduced utility bills and property taxes, making it an appealing option for retirees needing less space."
"The primary disadvantage of a reverse mortgage is that you are essentially married to your home, as in until death do us part."
Episode references:
How Does a Reverse Mortgage Work: https://dfi.wa.gov/homeownership/reverse-mortgages
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2747:
Nick Maggiulli's moving piece, "Losing More Than a Bet," delves into the poignant intersection of family, loss, and the perilous lure of gambling, inspired by the death of his grandfather. By reflecting on his grandfather's gambling addiction and its personal impacts, Maggiulli offers profound insights into the complexities of addiction, the deceptive allure of easy money, and the deep familial bonds that shape our understanding of risk and reward.
Read along with the original article(s) here: https://ofdollarsanddata.com/losing-more-than-a-bet/
Quotes to ponder:
"What goes up a chimney down, but not down a chimney up? An umbrella."
"Money won is twice as sweet as money earned."
"The cycle continues. Another loss. Another justification. Another gamble."
Episode references:
North American Foundation for Gambling Addiction Help: https://nafgah.org/
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Episode 2746:
Emma Scheib's piece "The Story of Your Life: Rewriting Your Script" from Simple Slow Lovely dives deep into the concept of self-directed life changes by confronting our inner critic. She narrates her personal journey of identifying and dismissing the critical internal voices that dictated her life choices, showcasing a path towards embracing a simplified, intentional life that truly reflects one's aspirations and values.
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2745:
Delve into the elusive world of the "Closeted FIRER" with FIRECracker's insightful article from Millennial Revolution. Discover the hidden lives of those secretly planning their financial independence and early retirement (FIRE) and explore how their undercover efforts impact both professional life and personal growth.
Read along with the original article(s) here: https://www.millennial-revolution.com/build/five-types-people-youll-meet-way-fi/
Quotes to ponder:
"The Closeted FIRER knows what SWR stands for, they can discuss in detail the subtleties of the 4% rule, they can rattle off their favourite low-cost Index ETFs. But they don’t, because they don’t want to admit that they’re also trying to jump ship from their job too."
Episode references:
Quit Like a Millionaire: https://www.amazon.com/Quit-Like-Millionaire-Practical-Wealthy/dp/0525538690
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926
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