Episodes

  • In this episode; global funds, it's not doctrine, index funds, VTSAX, what is in index funds, and the opposite of active investing.

    If you've been in the FI community for a while now, you've probably at one point have heard of index Funds. However, whether you are familiar with this concept of investing, have invested in index funds, or are unfamiliar entirely, you may not necessarily know the mechanics and specifics of what certain types of index funds can actually do for you on your FI journey. This week we are rejoined by Alan and Katie Donegan, co-founders of The Rebel Finance School, to dive into the topic of index funds. Together, we discuss the differences between certain types of index funds, fee structures and returns, self-regulating funds, as well as break-down the benefits of what certain types of index funds can provide for you regardless of market and economic fluctuations! While we are not giving direct financial advice on what invest in, this week’s episode is meant as a resource to our listeners who may be curious to learn more about index funds and passive investing!

    Katie & Alan Donegan:

    Website: alandonegan.com Podcast: alandonegan.com/podcast Rebel Finance School: www.alandonegan.com/rebelfinance VTSAX Breakdown: alandonegan.com/vtsax

    Timestamps:

    4:11 - Introductions 5:13 - What Is In Index Funds 11:19 - Global Funds 21:54 - It's Not Doctrine, Don't Get Bogged Down In The Details 25:50 - Am I Getting What I Want When I Invest? Should I Be Concerned? 35:14 - The Opposite Of An Active Investor 45:09 - Is Cap-Weighting The Only Way To Run Index Funds? 52:50 - Is There A Future Where Passive Investing Isn't A Good Option? 57:46 - Conclusion

    Resources Mentioned In Today’s Episode:

    Leave A Voice Message Of Your Year End Wins The Top Chase Business Credit Cards for 2022 The Simple Path to Wealth | JL Collins | ChooseFI Ep 411 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

  • In this episode: VTSAX funds, bonds, cap-weighted funds, finding your ballasts, staying the course, and the simple path to wealth.

    This week, we are getting back to the basics! While many of you who have been in the FI community for a while now have definitely heard of JL Collins, those who are new should absolutely be prepared to absorb the wealth of information he provides every time he decides to grace our podcast! Listen along as he and Brad review the basic information that can put you on the simple path to wealth that so many in the FI community have walked! Believe it or not, creating wealth for yourself can be simple!

    JL Collins:

    Website: jlcollinsnh.com Book: The Simple Path to Wealth: Your road map to financial independence and a rich, free life Chautauqua: Get Information About Chautauqua Here!

    Timestamps:

    1:46 - Introduction 2:40 - Back To Basics, What Is The Simple Path To Wealth 10:15 - Low-Cost Funds And High-Cost Funds 14:56 - Index Funds Are For Lazy People (Just Kidding!) 20:00 - Is It VTSAX Or Nothing? 26:58 - Cap-Weighted Funds 30:53 - Staying The Course 36:32 - Are There Times When Index Funds Aren't A Good Choice? 42:28 - The Highest Likelihood Of Replicable Success 46:38 - Bonds 51:36 - Rising Rates 55:17 - I-Bonds 58:22 - Finding Your Ballasts 64:55 - Conclusion

    Resources Mentioned In Today’s Episode:

    JL Collins from jlcollinsnh | The Stock Series | Part 1 | ChooseFI Ep 19 The Stock Series Part 2 | JL Collins | ChooseFI Ep 34 What is The Simple Path to Wealth? | JL Collins | ChooseFI Ep 284 Alan and Katie Donegan's VTSAX Blog Chautauqua | Oh The Places We Will Go | ChooseFI Ep 64 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

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  • In this episode: finding mentors, the superpower of making less, traveling while making less, rental properties, and the one percent rule.

    For some who begin the FI journey, it's about doing all they can to reach that FI number, but for many people the journey to FI is about the people you meet and learn from along the way! On this week’s episode we are joined by longtime listener Kelly Cronin to discuss the importance of mentorship, her interesting take that gives a new meaning to traveling while working, and the importance of pursuing what drives you and leads to a life filled with with intentionality. In Kelly's case, a passion towards travel lead to a fascinating side-hustle that affords her the opportunity to make money while seeing the world, who knows where a passion could end up leading you?

    Kelly Cronin:

    Website: croninscastles.com Rental Property Class: Cronin's Castles STR Class

    Timestamps:

    1:55 - Introduction 3:11 - Kelly's Early Financial Influence 6:45 - Finding Mentors 9:02 - The Superpower of Making Less 15:26 - Traveling While Making Less 21:09 - Rental Properties 29:54 - The Mechanics of Acquiring Rental Properties 34:23 - The 1% Rule 41:32 - Running The Numbers 46:50 - How Is Kelly Marketing This? 55:46 - The FI Aspect, How Does This Intersect With Your Job? 64:20 - Where Do You Go From Here? 65:37 - Conclusion

    Resources Mentioned In Today’s Episode:

    Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 Peter Attia Huberman Lab Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403 Intuit Mint The BiggerPockets Money Podcast 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

  • In this episode: w2 employment to self-employment, s-coporations vs self-employment, avoiding penalties, megas backdoor roths, retirement planning, and health insurance.

    Most of us are familiar with a W2 job, and there is a certain level of convenience that comes with working a W2 job as it relates to retirement planning and taxes. So much so that it can be daunting to want to embark out on your own journey and have to figure it all out on your own. This week we are re-joined by our “in-house tax expert” Sean Mullaney to discuss the tax and retirement sphere as it relates to being self-employed. While we are not offering advice, this week's episode is meant to act as a resource to listeners curious about the steps and unknowns that come with the self-employment territory. With the same excitement and motivations gained from getting to run your own business, those same motivations and excitements can still be applied to navigating your retirement and taxes once you remember that it is now within YOUR control! The fear of the unfamiliar may not be as daunting and complicated as you may think, and figuring out these factors requires you to take the same initiative and action that is required throughout your entire FI journey!

    The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual.

    Sean Mullaney:

    Website: fitaxguy.com Book: Solo 401k; The Solopreneur's Retirement Account

    Timestamps:

    1:42 - Introduction 2:38 - W2 Employment to Self-Employment 11:34 - S-Corporations vs Self-Employment 14:03 - Avoiding Penalties When Making Estimated Payments 19:29 - Saving For Retirement As An Entrepreneur 24:00 - Employee vs Employer 401k Limits and Mega Backdoor Roth 33:54 - Is The Mega Backdoor Plausible For The Self-Employed? 41:03 - Roth IRA Conversions 43:15 - Addressing The Uncertainty Around The Employer Maximum 53:40 - ACA Plans and Navigating Health Insurance As A Solopreneur 63:34 - What Counts As Income? 68:41 - Conclusion

    Resources Mentioned In Today’s Episode:

    Paying Taxes When You're Self-Employed IRS Publication 560 IRS Form 8962 Instructions on Premium Tax Credit IRS Publication 974 Premium Tax Credit Creating Your Dream Job | ChooseFI Ep 117R Roth IRA Conversion Ladder Case Study | ChooseFI 163R Healthcare.gov ACA Plans Cody Garrett's Tweet Illustrating ACA Medical Insurance Premiums and PTCs 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

  • In this episode: taking action, travel rewards, career progression, the mission to net zero, and value propositions for college.

    Whether you were raised to live frugally or if the lessons and lifestyle of FI are just now being introduced into your life, the journey to FI is full of ebbs and flow, not only with your finances, but with the knowledge you pick up along the way. This week we are joined by Audrey to talk about her journey with FI, her path to intentionality, and to discuss the power of optimization. Everyone who begins the FI journey comes from a different place of financial literacy, and a lot of the times we may grow up following the “do’s and don’ts” of financial planning that we were raised with. However, you may be missing out on new ways to optimize your FI journey! The best part about FI is that it's a personal journey that allows you to learn new ways to plan, as well as new ways to reallocate your savings and spending in order to live your best life in the present and future!

    Timestamps:

    1:53 - Introduction 5:03 - Natural Savers 8:25 - Value Propositions For College 11:40 - Tackling Student Loans, The Mission To Net Zero 20:50 - Traveling On Points/Travel Rewards Cards 28:59 - Travel Rewards Hotel Strategy and Point Optimization 32:23 - Credit Cards and Children/Second Generation FI Training 34:50 - Taking Action In Your Post-Debt Life And Evolving 42:16 - Career Progression and Optimization 47:18 - Audrey Takes The Hot Seat 55:24 - Conclusion

    Resources Mentioned In Today’s Episode:

    Dave Ramsey Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022) Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393 The Tail End "Die With Zero" By Bill Perkins TalentStacker's Salesforce Career Development Program Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117 From Pandemic Layoff to $100k+ | A Salesforce Success Story | ChooseFI Ep 297 From Stay At Home Parents to High Paying Salesforce Careers in Under 6 Months | Salesforce For Everyone Mama Bear Apologetics All the Hacks Join ChooseFI's Facebook Group! 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
  • In this episode: growth during the job hunt, exploring entrepreneurship, tips for career growth, and second generation FI.

    It's only natural that on the journey to FI you will want to pivot. Whether it is your financial outlook or even your career outlook, it's only natural to have reservations about making a change that could benefit you in the long run. On this week’s episode of The Households of FI, we are joined by Kristi to fill us in on how her FI journey is going, as well as discuss the topic of “leveling-up”. Changing jobs or moving on to the next career chapter while on the journey to FI can seem farfetched, because often times we want to stick to what is familiar and what is more in line with our plan. However, there is no shame in expanding your network and your options in terms of finding better employment that is more aligned with your values! Don't be afraid to be “un-stuck” and see what career options you have, and make sure you are surrounded by those who are aligned with the same principles as you are!

    Timestamps:

    2:03 - Introduction 3:41 - An Update From Kristy 5:53 - Growth During The Job Hunt 13:03 - Tips For Career Growth 19:45 - Exploring Entrepreneurship 23:39 - The Finances Of Engagement 27:07 - Being On The Same Page Financially As Your Partner 31:48 - Where Is Your Salary Raise Going? 38:59 - Laying The Seeds For Second Generation FI 51:52 - Conclusion

    Resources Mentioned In Today’s Episode:

    Kristi & Big Ern | ChooseFI Ep 259 Is My Company’s Stock Overpriced | P/E Ratio Explained | ChooseFI Ep 314 Career Hacking With ESI Money | ChooseFI Ep 23 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Rebel Entrepreneur Alan and Katie Donegan's Free Extraordinary Life Course Money With Katie | Katie Gatti | ChooseFI Ep 399 Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 The Simple Startup 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

  • In this episode: taking action, asking questions, navigating information, getting to where you want to go, the reason we learn, and growth mindsets!

    Beginning your FI journey often means facing a lot of unfamiliar knowledge being thrown at you. With all the resources and alternative information provided, we know firsthand that it can be overwhelming. However, you should not feel intimidated to start your FI Journey! This week we are joined by an avid ChooseFI listener Josue to discuss the power that comes with learning new information, as well as the importance of taking action from information presented! No matter what financial or educational background you come from, your FI journey starts from a personal square one. Whether the information and knowledge presented from this journey is completely new or relatively familiar, there can be a sense of motivation that can be gained from continuing this journey! If you are searching for early FI excellence defined, then look no further than Josue!

    Timestamps:

    1:48 - Introduction 2:41 - 18 Months Ago... 5:53 - What Made You Chase FI? 10:43 - Taking Action and Asking Questions 17:30 - Growth Mindset and Changing 20:07 - Navigating Information/Combatting Echo-chambers 33:07 - Getting Where You Want To Go and How Josue Did It 39:40 - The Cost of Not Knowing 42:43 - Retirement Accounts 51:50 - This is Why We Learn/Life Insurance 56:36 - Leasing Cars 60:16 - Savings Rate Based On Value 65:47 - Josue Takes The Hot Seat 77:09 - Conclusion

    Resources Mentioned In Today’s Episode:

    Flexible Spending Rules For Early Retirees | ChooseFI Ep 176 JL Collins "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" by JL Collins "Influence: The Psychology of Persuasion" by Robert B. Cialdini The Knowledge Project "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear The Trades Path To FI | Captain DIY | ChooseFI Ep 103 The 18-Year-Old Who Actually Listened | Ep 388 Just Keep Buying | Nick Maggiulli | Ep 404 Leasehackr "Four Thousand Weeks: Time Management for Mortal" by Oliver Burkeman 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

  • In this episode: income-producing assets, REITs, the 4% rule, optimal spending, saving too much, and why you will never feel rich.

    It is believed that in order to reach FI, cutting expenses and limited spending seems like the ideal way to your end goal, but are you missing out on ways to spend-to-earn because it feels right? Well, this week we are rejoined by friend of the show and guest host Brian Feroldi to interview Nick Magguilli, author of the excellent book Just Keep Buying: Proven Ways to Save Money And Build Your Wealth. Together we discuss using data to grow your wealth and fighting the stigmatization of spending your money. On the journey to FI it is easy to focus more on saving so much that we’re afraid to spend, however, by not spending we could be missing out on assets, both monetary and non-monetary, that could bring us greater fulfillment in the present and future! By rethinking your approach to spending, rather than looking at it as something that is negative, you may find that your money can go farther for you when its spent rather than saved!

    Nick Maggiulli

    Website: ofdollarsanddata.com Book: Just Keep Buying: Proven Ways to Save Money And Build Your Wealth Twitter: @dollarsanddata Instagram: @nickmaggiulli

    Brian Feroldi

    Website: The Motley Fool Book: Why Does The Stock Market Go Up? Twitter: @BrianFeroldi

    Timestamps

    1:29 - Introduction 2:31 - Just Keep Buying 9:27 - Income Producing Assets 10:55 - Macro-Level Mind Changers 14:08 - REITs 16:57 - You Can Save Too Much? 21:40 - How Nick Thinks Through The 4% Rule 26:20 - Spending Optimally 30:59 - Catching Up Financially Through Exercise 34:01 - Examining 401k Maxxing 38:47 - Saving Raises 41:50 - Why You Will Never Feel Rich 46:16 - Investment Properties & Nick 47:55 - Conclusion

    Resources Mentioned In Today’s Episode

    3 words got me 3 MILLION SUBSCRIBERS "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins "The Tail End" By Tim Urban Peter Attia 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

  • In this episode: balancing deprivation and happiness, making adjustments, everything is negotiable, the evolution of alignment, adjusted awareness, and intentionality in community.

    Five years ago, Scott and Taylor Rieckens publicly began their path to FI by creating the fantastic documentary "Playing With FIRE." The documentary depicts their life as they start out and navigate the early stages of their FI journey, which is often the period of time when we act our most frugal, cut as many expenses as possible, and in turn save as much as we possibly can! While this kind of lifestyle is a great jumping off point early in the FI journey, oftentimes people find this lifestyle to be limiting and ultimately detrimental to their own happiness. Now that Scott and Taylor are significantly further down the path compared to the last time we heard from them, we decided to have them return to the show to discuss the adjustments they have made in their lifestyle in order to live in a manner that fully aligns with their idea of a happy life! Remember, FI isn't suppose to limit your ability to be happy, rather it exists to enhance your life and help you find fulfillment as progress down the road less traveled.

    Scott and Taylor Rieckens:

    Website: playingwithfire.com Documentary: Playing With FIRE Book: Playing With FIRE

    Timestamps:

    1:59 - Introduction 2:38 - What Makes You The Most Happy? 8:41 - The Evolution of Alignment and Adjusted Awareness 18:30 - The Craziest 36 Months 23:13 - Revisiting What's Important After Evolution 35:05 - Balancing Deprivation and Happiness 37:58 - Making Adjustments 43:03 - Decisions Are Based On The Information You Have 49:57 - Wonderful Evolutions and Learning Together 51:23 - Everything is Negotiable 57:02 - Everybody is the Star of Their Own Movie / Intentionality in Community 66:34 - Conclusion

    Resources Mentioned In Today’s Episode:

    Playing With FIRE | Documentary | Scott Rieckens | ChooseFI Ep 37 "The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work" by Shawn Achor The Tim Ferris Show The Great Man Within "Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" by Annie Duke

    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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: the beauty of community, misleading expectations, doing what's best for your situation, and stress reduction.

    The Journey to FI is hardly linear and is full of ebbs and flows. While it may seem easier to share your wins/successes within this community, we know it can be even harder to share the moments of this journey that feel like setbacks. On this week’s installment of the Households of FI series, we are joined again by Vivian to fill us in on how her FI journey is going, and the importance of finding support within this community. Everyone’s FI journey is unique to them, but it doesn’t mean that you are alone! The beauty of FI is that it offers you a community to share your successes, as well as share your struggles. By being vocal and unafraid to admit that you are having a hard time, you are not only sure to garner support from others facing similar battles, but can find a renewed sense of motivation to make you feel more accountable and present on this journey!

    Timestamps:

    1:57 - Introduction 4:14 - The Beauty of Community 7:56 - Expectations Are Misleading 13:37 - It's Not Black and White, Do What's Best For You 18:30 - Ask For What You Deserve 22:10 - Reducing Stress and Addressing Your Situation 28:51 - Life Is Not A Straight Path 31:02 - Retirement Withdrawals and The Market 38:33 - You Are Not Alone 40:14 - Conclusion

    Resources Mentioned In Today's Episode:

    Introducing Our Households of FI!! Part 1 | Ep 221 If People Can Do It I Can Do It Too | Vivian Connects With Leslie Tayne | Households Of Fi | Ep 255 Navigating a Multigenerational Household | The Financial Tortoise | EP 302 Brian Feroldi JL Collins "Just Keep Buying: Proven Ways to Save Money And Build Your Wealth" By Nick Maggiulli Mega Backdoor Roths: How They Work

    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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: finding unknown opportunity, creating your lifestyle as you go, overcoming the down period, real estate renting, and what reaching FI looks like.

    Once you’ve set your FI number and put plans into action, it’s tempting to want to do everything in your power to reach that goal as soon as possible, potentially by working longer hours or cutting out expenses in your life in order to save more. But by doing this are you cultivating the lifestyle you want to live after your goal is met? On this week's episode we are re-joined by Court from Modern FImily to update us on her FI journey, the changes she has made over the last few years, and her rewarding takeaways from being flexible on her journey. The beauty of FI is that it is a personal journey, and it’s one YOU create to reflect YOUR lifestyle! It is important to remember that by rushing to meet your goal, you may be adding more stress than needed, and missing out on the lessons, hacks, and new opportunities (or use experiences) that come with starting this journey!

    Court From Modern FImily

    Website: modernfimily.com Instagram: @modernfimily

    Timestamps

    1:51 - Introduction 2:28 - Update From Courtney 8:22 - Testing to Find Unknown Opportunity 14:19 - Creating Your Lifestyle on the Journey 20:10 - Overcoming the Down Period 25:27 - What Do You Want Your Life to Look Like? 28:30 - Finding Free Activities 37:03 - Annual Passes and Finding Groups 41:25 - Real Estate Renting and Simplicity 48:37 - Flexibility and Taking Advantage of Whats Available 52:04 - What Reaching FI Looks Like 64:23 - Conclusion

    Resources Mentioned In Today’s Episode

    Modern FImily With Court | ChooseFI Ep 166 Your Flex Rate: The Crucial Factor Behind A Successful Early Retirement Find Your Local ChooseFI Group! Early Retirement Now Living Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep 12 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: house hacking, benefits and compensation packages, earning extra income and side hustles, and not setting perfection as your goal.

    We know achieving FI doesn't happen overnight, and rarely does it happen perfectly according to plan. Life happens, changes happen, and uncertainty usually finds a way to throw you off your planned path. This shouldn’t be something to fear! Today in the Households of FI series we are joined again by Zach to fill us in on how his FI journey has progressed over the last couple years, as well as to discuss the importance of re-adjustment! While failure is never an easy thing to accept, the fear of failing may deprive you of some excellent learning opportunities. By remaining intentional with your FI plan rather than striving for perfection, you will allow yourself to overcome uncomfortable lulls and expand your journey to places you might not have thought were possible!

    Timestamps:

    1:51 - Introductions 4:45 - Zach and Marilyn Update 7:16 - House Hacking and Limiting Expenses 13:30 - Life is Lumpy, Perfection Isn't The Goal 21:39 - Examining The Whole Compensation Package 31:40 - Earning Extra Income 40:15 - Zach's 6 Year Path To FI 46:21 - If You Weren't Afraid, What Would You Do? 53:15 - Being Open to Exploring 56:53 - Conclusion

    Resources Mentioned In Today’s Episode:

    Households of FI-Zach and Marilyn Talk Real Estate Investing With Paula Pant | ChooseFI Ep 247 Discovering the Power of FU Money | ChooseFI Ep 321 Side Hustle Nation "$1,000 100 Ways: How Real People Make Real Money on the Side (and how you can too)" by Nick Loper The Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep. 13 Early Retirement Now "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich" by Tim Ferriss 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile
  • In this episode: finding purpose, misaligned values, being the product of your environment, the stock market as a source for wealth building, and modern two-player mode.

    We encourage our listeners that there is no wrong age to start your FI journey, but for those of you starting your FI journey as a young adult, the firehouse of foreign information can feel overwhelming. Sometimes it may even seem as if you’re too far behind to even start! The good news is, you're not! Today we are joined by Katie Gatti from Money With Katie to talk about how she navigated FI in her early 20s, and how she used a lack of knowledge as a motivator to get to a place of financial independence. Everybody starts this journey at a different place in their life and no two people are the same. By being patient and finding value in learning something new, you are certain to find yourself more motivated on your FI journey!

    Katie Gatti

    Website: moneywithkatie.com Podcast: The Money With Katie Show Twitter: @moneywithkatie Instagram: @moneywithkatie

    Timestamps

    1:36 - Introductions 2:09 - Katie's FI Journey 8:32 - Finding Meaning and Purpose 11:53 - Misaligned Value and Personal Finance 18:58 - Katie's College Decision and Education 25:03 - Forming Yourself as the Product of Your Environment 31:40 - It's Never Too Late For FI 39:03 - The Stock Market as a Means of Wealth Building 49:09 - Modern Two-Player Mode and Setting Financial Expectations 55:41 - Katie Takes The Hot Seat 67:07 - Conclusion

    Resources Mentioned In Today’s Episode

    Young Money The Mad Fientist Meet the Frugalwoods | Achieving FI Through Simple Living | ChooseFI Ep 65 Paul Merriman Introduces The Ultimate Buy And Hold Portfolio | ChooseFI Ep 130 Paul Merriman | ChooseFI Ep 290 M1 Pies: Level Up Your Dividend Strategy and Optimize Your Portfolio Like a Pro (2022) "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung The Huberman Lab Podcast The BiggerPockets Money Podcast Subscibe 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: career changes, up-skilling, re-prioritizing, accruing debt for value, childcare, and emergency funds.

    The journey to FI is never linear. Sometimes we can find ourselves thinking the only way to meet our goals is to follow a strict plan, which can make adjusting said plan feel like a daunting set back. Well, our returning Households of FI guests Troy and Lindsay believe that flexibility during ones journey to FI can provide you with tremendous value! Making changes in your life, whether it's accruing temporary debt or changing careers, can actually lead to big time payoffs! While it may feel more secure to have a set trajectory with your financial goals, we know life gets in the way! So instead of sticking with a plan that isn't making you happy, try to stay flexible and evaluate all your options!

    Timestamps:

    1:34 - Introductions 4:55 - Troy and Lindsay Update 12:10 - Avoiding Over Optimization 18:49 - Up-Skilling & Career Changes 27:56 - Upgrading Income and Re-evaluating Priorities 36:15 - Accruing Debt for True Value 40:20 - Emergency Funds 42:58 - Going On Autopilot 46:00 - Expenses and Childcare 50:34 - Evaluating Your Work and Worth 53:14 Raising FI Children 58:54 - Conclusion

    Resources Mentioned In Today’s Episode:

    Introducing Our Households of FI!! Part 1 | ChooseFI Ep 221 Households of FI-Troy & Lindsay and Brad Calculate Their FI Number | ChooseFI Ep 241 Mr Money Mustache The Mad Fientist The Great Man Within Level Up In Tech Udemy A Cloud Guru TalentStacker's Salesforce Career Development Program The BiggerPockets Money Podcast 1500 Days to Freedom Should I Refinance My Mortgage? | Ep 167R New Retirement Negotiate Your Salary With Tori Dunlap | Ep 147 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211 "Raising Your Money-Savvy Family For Next Generation Financial Independence" By Carol Pittner and Doug Nordman 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: cybersecurity, password managers, two-factor authentication, safely navigating the internet, and more hot-seat questions!

    Have you ever considered how secure your finances are in the modern world? Within the cyber-dominated world we are all living in, it can be tough to stay on top of updates, passwords, and other necessary resources that help us keep our digital footprints safe. Well in order to provide you all with some high-level tips and tricks to stay ahead of the curve, we decided to have long time listener and cybersecurity expert Tom on the show this week to discuss how you can secure your online life. Keeping yourself secure and your assets safe is one of the best ways to ensure a progressive future as you move forward in the digital era while on your FI journey!

    You can find the link to Tom's Facebook thread here!

    Timestamps:

    1:44 - Introduction 2:52 - Passwords and Password Managers 13:22 - Two-Factor Authentication 22:03 - Email Links 28:38 - Cyber Financial Risks 34:57 - Surfing The Web Safely 39:14 - Antivirus Software 43:57 - Public Wifi, Back-ups, and High-Level Tips 55:18 - Look Out For Elderly Loved Ones 58:38 - Tom Takes On The Hot Seat 75:01 - Conclusion

    Resources Mentioned In Today’s Episode:

    Join ChooseFI's Facebook Group! Yubico Lastpass 1Password KeePass Why You Need A Legacy Binder JL Collins Die With Zero: Getting All You Can from Your Money and Your Life By Bill Perkins RunnersFI Suggested Books Libby 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: evolution, knowing the rules, making purposeful decisions, automation, and the return of the hot seat!

    In the advent of making money, oftentimes we can find ourselves torn between a state of over-saving through budgeting and cutting expenses, and over spending just because we have the means to. But is that what we really are looking for in our respective FI journeys? With thoughtful planning and proper action maybe we can happy medium between the two that doesn’t feel over invasive. Today we are joined by Bo Loy to discuss the concepts of finding adventures that don't break the bank, purposeful decision making, and the perks of automating your money. Also we heard your feedback! Back by popular demand this week, Bo Loy will be answering questions in our freshly renewed segment, The Hot Seat!

    Timestamps

    1:26 - Introduction 2:23 - Evolution and Perspective 9:12 - It All Adds Up 14:22 - Reviewing, Insurance, and HSA 24:11 - Knowing the Rules 32:00 - Tax Loss Harvesting 37:45 - Making Purposeful Decisions 44:02 - Finding Free Adventures 49:01 - Automation 66:17 - The Hot Seat Returns 79:10 - Conclusion

    Resources Mentioned In Today’s Episode

    Early Retirement Extreme Mr Money Mustache HSA – The Ultimate Retirement Account in 2022 Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18 A Second Generation FI Case Study | Cody Berman FlytoFI | ChooseFI Ep 83 All The Hacks The High Cost Of Living Path To FI | ChooseFI Ep 41 JL Collins Brian Feroldi Check Out ChooseFI On Facebook Find Your Local Group! 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: student loans, the impact of knowing, navigating the pandemic, the power of planning, and the freedom of FI!

    Tens of millions of people deal with student loan debt, and even with the recent news of loan forgiveness, there are still many who are left unequipped with the knowledge of the best ways to repay these debts without sacrificing from their lifestyle. Today we are rejoined by Samm, aka “The Debtist,” to get an update on how she has been navigating paying off her student loans, as well as how her financial mindset has changed over the last 4 years. Just because you take on debt does not mean you have to deprive yourself of the life you want until the debts are paid off! By changing your mindset to one of abundance of opportunity rather than scarcity of opportunity, the path to FI can open many doors for you! Paying down your loans, entering into new professions, and not letting your money control your ability to find happiness are all just examples of what is possible while getting yourself out from debt!

    The Debtist:

    Website: The Debtist Instagram: @thedebtist

    Timestamps:

    1:25 - Introduction 1:50 - Sam's Student Loan Story 6:34 - Switching From IBR and The Impact of Knowing 10:48 - Navigating the Pandemic Pause 14:06 - The Freedom of FI 17:45 - The Aftermath of the Pandemic 24:56 - The Doors You Can Open By Shutting One 30:51 - The Power of Planning 38:18 - The End of the Pandemic Pause 46:35 - Conclusion

    Resources Mentioned In Today's Conversation:

    HyperDebt | The Debtist | ChooseFI Episode 98 The Student Loan Planner The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Travel Rewards Refresher 2022 | Lyn Mettler | ChooseFI Ep 393 Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 You Need A Budget (YNAB) Do You Need A Budget? | YNAB | ChooseFI Episode 165 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile
  • In this episode: resilience, making good choices, letting go of limiting beliefs, attracting the energy you put out, and winning at life!

    What would you do if you were given a terminal cancer diagnosis? While it might not be the first thing that comes to mind, if you're able, the Boyd Dunleavey option is to develop a new positive outlook on life and the energy your omitting into the world, win your fight with cancer, and then proceed to run 11 marathons. Bad news comes to every single one of us, but how we process and handle that news is entirely up to us! Choose to handle it the right way, move forward with your life, and prioritize the things that matter to you. Despite what you may have been told, you have no idea where it could lead you ten years down the road!

    Boyd Dunleavey:

    Check out these sites to see if your someones much needed match! Be The Match One Match Two fantastic groups in the cancer community that Boyd loves and trusts! Gryt Health Man Up To Cancer Connect With Boyd Facebook: From Blood Cancer To The Boston Marathon Instagram: @from_blood_cancer_to_boston

    Timestamps:

    1:22 - Introduction 2:49 - Choices Bearing Fruit/ Boyd's Backstory 11:42 - Taking The Better Path 20:04 - The News That Changed Everything 24:36 - Resilience and Pivoting 29:41 - You Could Be Someones Match 34:20 - Attracting The Energy You Put Out 39:16 - The Places Your Energy Can Take You 47:27 - The Boston Marathon 51:07 - It's a Choice to Make Good Choices/Ripple Effects 58:40 - Goal Setting, Financial Resilience, and Winning at Life! 68:34 - Let Go of Limiting Beliefs 71:00 - Conclusion

    Resources Mentioned In Today’s Episode:

    "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert T Kiyosaki "Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom" by Robert T Kiyosake American Red Cross Todoist The Motley Fool Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Episode 31 Step-By-Step Guide to a (Nearly) Free Disney Vacation (2022) Atomic Habits | James Clear | ChooseFI Episode 157 The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Boyd Meeting His Donor Nathan! 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile

  • In this episode: Travel Rewards, Credit Cards, and The Value of Rewards Points.

    We all know that it can be expensive to travel, and sometimes the joy and excitement of taking that long-awaited family vacation can be overshadowed by the cost of taking the trip. But what if there was a more efficient way to travel that doesn’t feel like you are breaking the bank? Well, with effective planning and the right tools this is entirely possible! This week we are once again joined by Lyn Mettler who will discuss to maximizing your spending in a way that does not deprive you, but rather rewards you!

    Lyn Mettler:

    Check Out Lyn's Free eBook How to Earn the Southwest Companion Pass!

    Timestamps: 1:30 - Introduction 3:50 - Credit Cards 7:50 - The Value of Points 16:53 - Two-Player Mode and The 5-24 Rule 20:35 - Where to Start With Travel Rewards 25:03 - Limitations and Strategy 31:33 - Why This Works With FI 33:31 - The State of Travel Part 1 37:15 - Award Charts and Wiggle Room 41:28 - Points and Hotels 48:25 - The State of Travel Part 2 50:31 - The Booking Order 58:44 - Conclusion Resources Mentioned In Today's Episode: The Chase Sapphire Preferred® Card Review ChooseFI's List of Travel Rewards Cards Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9 Travel Rewards What Comes After Chase | Travel To Disney World For Nearly Free | ChooseFI Ep 31 Travel Rewards | Marla Taner | ChooseFI Ep 77 Families Fly Free | ChooseFI Ep 353 Turo Airbnb Vrbo Vacasa David's Vacation Club 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 Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile