In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life. This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it’s also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.  Mile High FI:   Podcast: milehighfi.com  Newsletter: Join the Mile High FI Club  Timestamps:   1:13 - Introduction  2:41 - Analyzing Finances In Your 20s  9:31 - Compounding Power  13:25 - The Boring Middle  21:01 - FI Role Models  26:41 - Building A Life On The Journey  35:01 - Fat FI  45:37 - Saving Versus Life Enhancement  54:21 - FI Checkpoints  57:52 - Conclusion  Resources Mentioned In Today’s Episode:   The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472  Mr Money Mustache  JL Collins  "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins  The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett  Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451  The Stages and Checkpoints of FI | ChooseFI Ep 324  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

479 | Are You on Track to FI? | FI Roundtable

In this episode: buy and hold, macroeconomics, interest rates, bond investing, when to sell, mindset, and thinking differently. This week we are joined once again by friend of the show Brian Feroldi to discuss the stock market and investing as we head into 2024. As most of you know by now, keeping your head down and staying the course is a pretty typical investing strategy in the FI community, but it is important to remember personal finance is personal. Depending on your situation, life may require you to mold that strategy into something else as your mindset and seasons of life change! Make sure your are not only optimizing your financial situation, but also your life in the process! Brian Feroldi:    Website: stockinvesting.school  Website: longtermmindset.co  Twitter: @BrianFeroldi  LinkedIn: Brian Feroldi  Timestamps:    0:33 - Introduction  3:42 - Buy and Hold  8:36 - "Macroeconomics"  15:17 - The Impact of Interest Rates/ Bond Investing  20:36 - High Yield Savings Accounts  27:18 - 2024 Investing  33:19 - When to Sell  38:05 - The Evolution of Your Mindset  43:40 - Thinking Differently  47:52 - VTSAX  51:21 - Conclusion  Resources Mentioned In Today’s Episode:    The Motley Fool  "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki  The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194  Risk Parity Radio  "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

478 | 2024 Investing Update | Brian Feroldi

In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails.  Ginger joins the podcast this week for a special “Hot Seat” episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it’s incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn’t about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.  Timestamps:  1:45 – Introduction 2:29 – Ashley and Atomic Habits 10:17 – Tyler and Opportunity Cost 19:09 – Amanda and Mental Wellbeing 25:17 – Caesar and PSLF Forgiveness 30:56 – Aaron, House Hacking, and DIY 37:17 – Ginger Takes The Hot Seat 59:33 – Brad Takes The Hot Seat 76:19 – Conclusion  Resources Mentioned In Today’s Episode:  “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear Atomic Habits | James Clear | ChooseFI Ep 157 “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Just Keep Buying: Proven ways to save money and build your wealth” by Nick Maggiulli BitWarden “The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence Williams I Will Teach You To Be Rich Book your custom student loan plan “Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi Risk Parity Radio “Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt Walker The Matt Walker Podcast Peter Attia Ginger’s New Sheets My First Million Podcast Prof G Show Pivot Podcast Todoist Dean Turner Training Send Us A Voicemail Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

477 | The Hot Seat: Community Edition

In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate. This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren’t in place. While death can be an uncomfortable topic to think about, it’s important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy’s story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it’s uncomfortable. Timestamps:   1:23 - Introduction  2:45 - Amy's FI Journey  9:03 - Income Planning and FI  17:24 - What Follows Tragedy  28:33 - The Importance of Wills and Beneficiary Designation  36:23 - Preparing in Advance and Considering The Possibility  44:27 - Immediate Access and The Ancillary Things  48:15 - Probate  59:09 - Setting Up Your Estate  65:09 - Conclusion  Resources Mentioned In Today’s Episode:   The Shockingly Simple Math Behind Early Retirement  Intestate Succession  The Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI")  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

476 | Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy

In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55. This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold. The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Sean Mullaney:    Website: fitaxguy.com  Website: Mullaney Financial and Tax  Twitter: @SeanMoneyandTax  YouTube: @SeanMullaneyVideos    FIRE in Vegas:   Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City.  Timestamps:    0:47 - Introduction  3:39 - Taxable Accounts  19:03 - Inherited Retirement Accounts  25:30 - The Rule of 55  28:39 - 457B's  30:46 - Roth IRA Conversion Ladder  39:12 - The 72(T)  54:52 - Paying the Penalty  57:25 - Conclusion  Resources Mentioned In Today’s Episode:     Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471  The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R  Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R  Retire On 72(T) Payments  72(t) Payments in Google Sheets  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

475 | How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney

In this episode: social security, disability, calculating social security, claiming social security, and due diligence. This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don’t consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.  Denis Shapiro:  Website: fsadvocates.com  Timestamps:    1:16 - Introduction  5:10 - What Pays for Social Security?  11:13 - Social Security and FI/Disability Insurance  17:30 - What Earnings Go Towards Social Security?  23:19 - Disability, Work Subsidies, and Income Related Work Expense  29:03 - How Social Security Benefits Are Calculated  37:05 - Claiming Social Security  39:59 - Social Security and Medicare  44:28 - Social Security and Due Diligence  56:27 - Working and Disability Benefits  59:59 - Conclusion    Resources Mentioned In Today’s Episode:    SSA.gov  Social Security Fact Sheet  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

474 | Social Security Deep Dive | Denis Shapiro

In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning. This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire! The Retirement Manifesto:   Website: theretirementmanifesto.com  Book: "Keys to a Successful Retirement:  Staying Happy, Active and Productive in Your Retired Years" by Fritz Gilbert  Case Study: From Food Stamps to FIRE: A Case Study on Retirement Planning   Timestamps:   1:33 - Introduction  2:37 - Calculating When You Can Retire  7:46 - Does Retiring Early Effect Social Security?  15:06 - Tracking Spending and Expenses  20:55 - Health Insurance in Retirement  29:49 - The Importance of Planning/Changing Your Assumptions  40:17 - One More Year Syndrome/Your Health Span  45:00 - The Second Phase of Retirement  49:51 - Conclusion  Resources Mentioned In Today’s Episode:   From Food Stamps to FI | Theresa | ChooseFI Ep 453  New Retirement  SSA Tools  Open Social Security  SSA.gov  How To Determine When To Claim Social Security (Retirement Manifesto)  The Retirement Manifesto Net Worth Template  "Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill Gifford  What Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

473 | Are We There Yet? 'Retire Early' Case Study

In this episode: the boring middle, lifestyle design, flow states, moving towards purpose, experiments, and experiences. This week we are rejoined by friend of the podcast Jessica from The Fioneers to the discuss the point of your FI journey known as the “Boring Middle,” and how through actionable steps and lifestyle design you can turn what feels like a stagnant stage in your FI journey, into one filled with growth and change! When you are well on your path towards reaching your FI goal, it is easy to feel like you’re not doing enough. But what feels like a waiting game can actually be an important time for self growth and experimentation. Taking the time to do some introspection to figure out what your core motivations are can allow you to begin opening yourself up to newer experiences that bring value into your life. So if you feel like you are currently on autopilot, there are steps you can take to shake up your routine and usher in new opportunities into your life. While you may have to quiet your own limiting beliefs in this process, you will learn more about yourself and what you want out of your life!  The Fioneers:   Website: thefioneers.com  YouTube: The Fioneers  Timestamps:   1:12 - The Boring Middle/Lifestyle Design  7:19 - Determining Your Version of Success  18:41 - Finding Your Flow State  28:16 - Implementing Your Designed Lifestyle/Moving Towards Purpose  36:09 - Questions, Experiments, and Experiences  46:59 - Making Dreams Actionable  52:09 - Conclusion  Resources Mentioned In Today’s Episode:   Living Without Regret w/ Hospice Doctor (Slow FI Meetup)  Find Your Local ChooseFI Group  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

472 | The Cure for the Boring Middle | Fioneers

In this episode: inflation, coast FI, early retirement planning, future tax liability, IRA's and 401k's, and diversification. This week we are rejoined by founder of Measure Twice Money Cody Garrett for another installment of the Mail Bag, where we will be talking through questions from our listeners covering topics ranging from inflation and its implications on your FI number, ACA subsidies and early retirement, as well as the similarities and differences with Roth accounts and future retirement tax liabilities. Listen along while we dip into the listener mailbag this week and discuss topics chosen from YOU the listener! Cody Garrett:   Website: measuretwicefinancial.com  LinkedIn: Cody Garrett  Timestamps:   1:02 - Introduction  1:35 - Inflation and Your FI Number  11:41 - Early Retirement Planning  21:55 - Calculating Future Tax Liability  30:15 - Distinctions Between IRA and 401k  33:37 - Diversification and Tech Stocks  44:26 - Conclusion  Resources Mentioned In Today’s Episode:   The DIY Financial Plan | EP 352  Find Your Local ChooseFI Group  Measure Twice Financial Calculator  See Healthcare Plans and Prices  Measure Twice Planners Preview: How to Review a Federal Tax Return  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

471 | Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett

In this episode: FI versus FIRE, coast FI, lean FI, tools for FI, the skill of spending, dying with zero, and prioritizing health.  This week we are joined by our friend and host of the “All the Hacks” podcast, Chris Hutchins to discuss the “spectrum” of FI, and all that falls in between. From the evolution of FI over the years, to the changes we’ve made on our respective journeys, and even differentiating terms such as FI versus FIRE and Coast FI, we cover it all! We also found some time to share some tools and resources that can be beneficial to you and your FI journey. While the path to FI allows you to take control of your financials and future, this journey can usher in so many new perspectives and changes that affect all areas of your life! Allowing yourself flexibility and remembering that what you are working towards isn’t just a number or early retirement, but rather a more fulfilling life!  Chris Hutchins:   Podcast: All The Hacks  Newsletter: All The Hacks Newsletter   Timestamps:   1:16 - Introduction  3:19 - FI Versus FIRE  10:11 - Lean FI  17:11 - Coast FI  30:20 - Tools for Tracking FI  41:48 - Optimizing Accounts  47:56 - The Skill of Spending and Dying With Zero  60:12 - Prioritizing Health  70:01 - Conclusion   Resources Mentioned In Today’s Episode:   Silicon Valley FI | Chris Hutchins | Grove | ChooseFI Ep. 71  Financial Independence Without a Six Figure Salary  Reflecting on All the Hacks, Valuing Time and Focusing on the Year Ahead  Early Retirement Now Safe Withdrawal Rates Series  Copilot  Kubera  ProjectionLab  Die With Zero: Net Fulfillment Over Net Worth  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

470 | The Spectrum of Financial Independence | Chris Hutchins

In this episode: real estate, upskilling, taking action, tracking your expenses, setting goals, getting on the same page, and the hot seat. This week we are joined by listener Navish Bahl to discuss his journey on the path to FI, the actionable steps he’s taken in order to maximize his life, answer some questions in the HotSeat, and navigating your FI journey while your significant other or family may not be on board. There are many avenues you can utilize in order to achieve FI, and while it may be overwhelming at times to figure out what works for you and your journey, remember that the goal is to learn and go through life with more freedom and balance, not stress and burnout trying to chase a number. The path to FI is a personal one, and as you embark on your journey allow yourself some patience but also some flexibility, and don’t forget to extend some patience to others in your life who may not be on the same path.  Navish Bahl:  LinkedIn: Navish Bahl  Timestamps:   0:52 - Introduction  2:30 - The Inspiration to Start and Taking Action  11:44 - Real Estate and Rental Properties  18:42 - Upskilling, Getting New Jobs, and Making Connections  33:09 - Discovery, Education, and Action in FI  39:52- Tracking Your Expenses  46:34 - Getting on the Same Page  50:21 - The Hot Seat  55:18 - Conclusion  Resources Mentioned In Today’s Episode:   "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" By Andrew Hallam  "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins  Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446  CIT Bank Review: High Interest Rate Options  Find your Local ChooseFI Group  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

469 | A Tale of Action | Navish Bahl

In this episode: checking boxes, supplementing income, life by design, taking action, the value of time, and year end wins! This week we are re-joined by Johnathan for our 7th annual year-end-wins episode! Together we tune into voicemails sent by you the listener and celebrate your victories from 2023! From confidently investing in your future, to finding new friends and support systems within the FI community, we are proud to be a part of your journey towards reclaiming your freedom and your time! There are many small and large goals you all met that deserve to be celebrated! Listen along as we discuss and commend you for taking action and making the most out of your FI journey this year!   Timestamps:    0:53 - Introduction  3:03 - Katie, Supplementing Income, and Checking Boxes  6:56 - Rakesh, Second Generation FI, and Investing  9:02 - Stephanie, Life by Design, and the Health Snowball  11:45 - Brian, Coast FI, Teaching FI, and Choosy Consulting  16:16 - Boyd and Emergency Funds  18:13 - International Coast FI, Taking Action, and Reclaiming Your Time  21:25 - Anthony, Skilling Up, and Chasing Your Dream With FI  25:35 - Donna, Helping Family, and Finding Peace Through FI  30:24 - Bryan, The Value of Time, and Deciding to Change  37:31 - Paul, FI Travel Wins, Healthcare, and College Hacking  42:01 - Sabrina, Breaking the Cycle, Marginal Gains, and Being 1% Better  47:52 - Conclusion  Resources Mentioned In Today’s Episode:   From Vision Board to Action: A FI Success Story | Rakesh | ChooseFI Ep 436  Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305  From Blood Cancer To The Boston Marathon | Boyd Dunleavey | ChooseFI Ep 394  Millionaire Educator  House Hacking With Coach Carson | ChooseFI Ep 16  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

468 | Year End Wins 2023

In this episode: community, structuring FI events, unstructured time, the energy in the room, and vulnerability. We all know that the online FI community can help you along the journey in a variety of ways, but the abundance and ease of access to that community can lead to us forgetting the impact live FI events can have on your life. Our Guests Stephen, Amy, and Diania from CampFI, FI Freedom Retreats, and The EconoMe Conference respectively can attest to the power of in-person communities as they are the ones who work so hard to put them together! Together with Brad, the foursome talk about the different benefits that can come as a result of joining these conferences, and how “the energy in the room” can help you find value and take in information in ways you never thought possible! Amy, Diania, and Stephen:    Stephen (CampFI): campfi.org  Diania (EconoMe Conference): economeconference.com (10% off using code "choosefi")  Amy (FI Freedom Retreat): fifreedomretreats.com  Timestamps:  1:04 – Knowing Versus Doing/The Benefit of Events 8:32 – What Can Be Achieved Through Community 14:02 – Being Vulnerable/The Effect of Multiple Days 22:33 – The Evolution of FI Events 31:23  – Structuring FI Events/The Energy in the Room 43:00 – Attendees Finding Value 51:10 – Conclusion  Resources Mentioned In Today’s Episode:  Stacking Benjamins Find Your Local ChooseFI Group Join ChooseFI’s Facebook Group Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

467 | The Power of Community | Amy, Diania, and Stephen

In this episode: finding a sustainable path to FI, adjusting your lifestyle, guac levels, mindset, and finding what you want. Jamila Souffrant makes her long awaited return to the podcast to discuss building a sustainable path to FI, the importance of readjusting, financial freedom versus financial independence, as well as other topics detailed in her new book "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness." While you may begin your FI journey with a set plan in mind, that doesn’t mean the actions you take along the trail of your journey won't serve you at different stages. On this journey, you should never feel like you are depriving or overindulging, but rather finding a balance that works for you and brings you happiness in the present. Remember, reaching your FI goal should never be at the cost of your happiness, and while making necessary changes is part of FI, you shouldn’t be sacrificing your happiness in order to reach your goal quicker.  Being mindful and willing to change your plans just as life can change will not only bring you more freedom, but allow you to make the necessary mindset changes that will serve you in ways well beyond your financial journey!  Jamila Souffrant:   Jamila's New Book: "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness"  Podcast: Journey to Launch  Website: journeytolaunch.com  Socials: @journeytolaunch   Timestamps:   0:49 - Introduction/Update From Jamila  5:02 - Finding Your Sustainable Path to FI  11:55 - The Perks of Pursuing FI/Adjusting Your Lifestyle Levels  17:17 - Diagnosing Your True Area of Need  22:39 - Gaining Stability/Having Power From Your Money  27:23 - The Importance of Mindset/Believing it's Possible  31:10 - Finding What You Want  38:59 - Setting Financial Goals  41:18 - Conclusion  Resources Mentioned In Today’s Episode:   Jamila Souffrant | Fail Forward | Journey to Launch | ChooseFI Ep. 73  "The Tail End" by Tim Urban  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Top 10 Recommended Travel Rewards Credit Cards Empower: Free Dashboard to Track Your Finances CIT Bank Platinum Savings Account M1 Finance: Commission-Free Investing, 1-click rebalancing CashFreely: Maximize Your Cash Back Rewards Travel Freely: Track all your rewards cards and points Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off) Student Loan Planner: Custom Consult (with $100 Discount)

466 | Journey to Financial Freedom | Jamila Souffrant

In this episode: lessons from failure, curiosity, mastering the small things, skilling up, and the value of time.  The return of Johnathan! Yes Jonathan is returning to the show to catch up on the work he’s been doing behind the scenes over the last year and a half, the value of freeing up your time, skill spending, and the importance of focusing on the little things while keeping the bigger picture in mind. Whether it’s when you’re just starting your FI journey or if it’s in other areas of your life, failure and mistakes can be inevitable. However, they should never keep you from trying to build and create the life you are working towards! One of the key lessons taught in FI is to change your mindset from one of scarcity to one of growth, and part of that challenge means identifying failures and taking action to learn from them. While you are working towards your own “big picture” on this journey, don’t forget to focus on the smaller things. Not only will it allow you to pay closer attention to what you are doing right and wrong, but it makes it easier for you to pivot and reevaluate when necessary! This journey is not just about reaching that final goal, but about using the knowledge and lessons learned along the way to make life a little bit freer and a little bit easier!  Timestamps:    0:22 - Introduction  1:26 - Update From Jonathan/Lessons From Failure  8:53 - The Curious Mindset  17:57 - Failing Forward and The Small Things  27:42 - The Importance of Skilling Up in Today's World  36:30 - Your Most Valuable Non-Renewable Resource  44:11 - Paying Off The Mortgage/Donor Advised Funds  59:19 - Conclusion   Resources Mentioned In Today’s Episode:  Beginning of a New Era | ChooseFI Ep 392 “Art & Fear: Observations On The Perils (and Rewards) of Artmaking” by David Bayles Creating Your Entrepreneurial Flywheel | Nathan Barry | ChooseFI Ep 455 CIT Bank Review: High Interest Rate Options Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance

465 | Jonathan Returns: Upside Down Economics and the Priceless Value of a Great Question

In this episode: the make whole mindset, budgeting, grace and space, automation, and splitting it before you get it. This week we are re-joined by Tiffany Aliche better known as "The Budgetnista” to discuss her new book "Made Whole: The Practical Guide to Reaching Your Financial Goals" which details her 10 step system towards financial wholeness, the ease of automating payments, the importance of accountability partners, as well as designing separate accounts to reflect your needs. It can be intimidating to begin addressing your finances and planning your financial future, but your past mistakes or lack of knowledge should never be the thing holding you back from beginning your FI journey. Building a financial foundation for yourself doesn’t happen overnight. Everyday it requires you to make the necessary changes and instill new habits that get you closer and closer to your goals. And while personal finance is personal, there is no reason to go through it alone. No matter your background or what stage of life you begin FI, there is a large community of people on this journey that will embrace and celebrate the smaller milestones just as much as the bigger ones! Tiffany "The Budgetnista" Aliche:   Website: thebudgetnista.com  Get You Copy of Tiffany's New Book Coming Out on November 21st 2023: "Made Whole: The Practical Guide to Reaching Your Financial Goals"  Tiffany's Last Book: "Get Good with Money: Ten Simple Steps to Becoming Financially Whole"   Timestamps:   1:00 - Introduction  2:06 - The Make Whole Mindset  8:19 - Automation  18:34 - Grace and Space For Learning  28:29 - Split It Before You Get It  37:43 - Splitting Your Saving Accounts  44:41 - Emergency Savings/Personal Finance is Personal  54:28 - Conclusion   Resources Mentioned In Today’s Episode:   Get Good With Money | Tiffany Aliche the Budgetnista | ChooseFI Ep 310  From Financial Imperfection to America’s Favorite Budget Expert | Tiffany Aliche | ChooseFI Ep 240  The Great Man Within  The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal | ChooseFI Ep. 66  CIT Bank Review: High Interest Rate Options  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance

464 | Budgeting Masterclass | Tiffany "The Budgetnista" Aliche

In this episode: frugality, value based spending, honoring your season, identity, budgets, financial goals, and minimalism. When you think of the word frugal what comes to mind? To some it can mean spending on what you absolutely need and leaving little wiggle room for anything else, but to others frugality is not just a restrictive budget but a superpower! This week we are joined by Jen and Jill of the Frugal Friends podcast to discuss the intersectionality of frugality and the FI journey, as well as finding the balance between budgeting to invest in the future you want without depriving yourself in the present. Mindfulness and paying attention to the things you spend money on is an important part of the FI journey, but it is just as important to be mindful of the things that bring value and joy into your life. While budgeting and reducing your spending can help you reach the FI finish line a bit quicker, it should never be at the expense of cutting out the things in your life that are fulfilling! Implementing frugal habits and finding a budget that works and changes with your life can be an incredible tool while on the path to FI, because not only does it open up opportunities to invest monetarily, but also invest in yourself and the life you want to live!  Frugal Friends:    Website: www.frugalfriendspodcast.com  Podcast: The Frugal Friends Podcast  Newsletter: The Friend Letter    Timestamps:  1:11 - Introduction  3:24 - Balancing Frugality  12:38 - Frugality, FI, and How They Fit Together  17:21 - Budgeting and Value Based Spending  26:43 - Honoring Your Season  29:22 - Financial Goals and Identity  36:50 - Examining Budgets and Sinking Funds  42:53 - The Intersection of Frugality and Minimalism  49:37 - Prioritizing Value Based Spending  53:44 - Conclusion  Resources Mentioned In Today’s Episode:    Why Everyone Needs Dave Ramsey and Why You Should Ignore Him | ChooseFI Ep. 5  Leave Us A Review  Subscribe to The FI Weekly!    More Helpful Links and FI Resources:  Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance

463 | Superpower of Frugality | Frugal Friends

In this episode: the power of pursuit, FU money, index investing, investing the difference, and the simple path to wealth. This week we are joined by the godfather of the FI movement himself JL Collins to discuss the themes of his new book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them." While there is no perfect blueprint to mastering your money, there can be confidence and motivation to be found in the stories of others who have been in your position regardless of what part of the path to FI you are on! Though this journey requires you to have to take action and make necessary financial changes, it is never about complexity and deprivation. But rather, this journey is about recognizing the freedoms gained while pursuing FI, not just when you reach your FI goal! The moment you begin to simplify your path to wealth, you will find yourself becoming a stronger and happier individual! JL Collins:   Check Out JL's New Book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them"  Website: jlcollinsnh.com  Other Book: "The Simple Path to Wealth: Your road map to financial independence and a rich, free life"   Timestamps:   1:25 - Introduction  4:27 - The Power Of Pursuit And FI  13:48 - Buying Your Freedom  22:34 - There's No Secret To Money  30:35 - The Power Of Index Investing  43:29 - Spend Less, Avoid Debt, And Invest The Difference  51:27 - Following The Simple Path To Wealth  56:26 - Conclusion   Resources Mentioned In Today’s Episode:   "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung  10 Reasons People Invest in Hedge Funds  A Wealth Of Common Sense  32 Things to Know about Following The Simple Path to Wealth  Time Machine and the Future Returns for Stocks  Subscribe to The FI Weekly!  More Helpful Links and FI Resources:  Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance

462 | Pathfinders | JL Collins

In this episode: community, building fun into your life, college planning, fear, following threads, and travel rewards. This week we are rejoined by Ginger for another installment of the Round-Up, where we catch up and discuss our favorite takeaways from this past month’s episodes. From learning how to best prepare your child for the college application process, to the importance of introspection to pinpoint and work with your fears, and finally to re-framing your fearing relationship with money. It’s been a great month with content full of information that all listeners can relate to, no matter what part of the FI journey they are in! Timestamps:   0:37 - Introduction  3:23 - Community  12:45 - Building Fun Into Your Life  17:51 - Usage Of Travel Rewards  29:51 - College Planning  37:18 - Following the Threads, Fear, And Money  49:32 - Retirement Investing/The Mailbag  57:00 - Conclusion   Resources Mentioned In Today’s Episode:   FI is Fun  FinCon  The Great Man Within  EconoME Conference (Coupon Code "choosefi" for 10% Off!)  CampFI  FI Freedom Retreats  Find Your Local ChooseFI Group   "The Inheritance Games" By Jennifer Lynn Barnes   "The Blade Itself" by Joe Abercrombie  Mailbag: Cover Your Expenses | Rachael Camp | ChooseFI Ep 457   Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460   A Healthy State of Panic | Farnoosh Torabi | ChooseFI Ep 458  Follow the Thread | Cory Muscara | ChooseFI Ep 459  Subscribe to The FI Weekly!   More Helpful Links and FI Resources:   Earn $1,050 or More With These 3 Cash Back Cards  Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence  Find a new side hustle with one of our Educational Courses  Commission-Free Investing with M1 Finance

461 | Taking Space for Yourself and Community | October Roundup

In this episode: financial aid, college planning, standardized tests, tests optional, need meeting, and preparation. This week we are re-joined by Brian Eufinger to discuss ways to best prepare your children for college admissions, navigating the new changes to FAFSA and the CSS profile, and how you can maximize when prepping for your child’s higher education. While college prep can be stressful for students, from maintaining their GPA to taking multiple standardized tests, it can be just as stressful for parents to figure out financial aid and how to best set up their child for success before and after graduation. However, knowing the factors to consider early on and having the knowledge in advance can make this process far less daunting! While stressful as it may be, remember that there are many different resources available to you and your child that give you the knowledge that may alleviate the pressures that come with college prep and financial aid!  Brian Eufinger:   Free diagnostic mock SAT and ACT tests (each weekend): www.edisonprep.com/mocks/  Free information sessions on college admissions (6-7x / year, including one on 11/14 @ 7pm EST): www.edisonprep.com/infosession/  How to self-prep for the SAT/ACT: www.gettestbright.com/self-prep-for-the-sat-act/  Edison Prep Bios: www.edisonprep.com/bio/   Timestamps:   1:06 - Introduction  4:53 - The Impact of Merit Aid  11:49 - When, Where, and How to Think About Standardized Tests  18:33 - The Intersection of The School, Price, Opportunity, and Comfort  25:20 - Standardized Tests and The Reality of Preparation  31:08 - Tests (Not) Optional  37:32 - Governmental Forms and Financial Aid  46:43 - The Variance of Need Meeting and Aid Changes  51:13 - Preparation and Knowledge With College Planning  55:23 - Non-Academic Path to Savings  58:14 - Conclusion   Resources Mentioned In Today’s Episode:   Demystify College Scholarships | Brian Eufinger | Edison Prep | ChooseFI Ep 114  Hacking The FAFSA | Brian Eufinger And Seonwoo Lee | ChooseFI Ep. 154  Major Financial Aid Changes Coming: What Families Need to Know  FAFSA Changes Are Coming: What You Need To Know  Big J’s Very Brief Guide to the FAFSA and CSS Profile  How the FAFSA Simplification Can Impact Your Financial Aid  Summary of Changes to the 2024-2025 FAFSA  The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386  Subscribe to The FI Weekly!   More Helpful Links and FI Resources:   Earn $1,050 or More With These 3 Cash Back Cards  Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence  Find a new side hustle with one of our Educational Courses  Commission-Free Investing with M1 Finance

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