Episodes

  • Getting Personal with Personal Finance: Ginger & TJ | Episode 519

    Getting Personal with Personal Finance: Ginger & TJ | Episode 519
    Nov 4 2024

    TJ shares his financial journey and experience reaching financial independence, focusing on intentional savings and the joy of family life. Early influences and educational backgrounds shaped his approach to finance, leading to a strategic path that included tracking net worth and undertaking regular financial meetings with his wife. The episode dives into the challenges they faced, especially when dealing with unexpected medical circumstances and highlights the delicate balance between enjoying life and making prudent financial decisions, ultimately aligning with their core values.

    Key Takeaways:

    • Intentional Savings: Be proactive in saving and planning for financial independence. 00:03:37

    • Tracking Net Worth: Regularly evaluate your financial progress.00:10:02

    • Community Support: Rely on your community during tough times. 00:29:16

    • Flexibility in Planning: Adapt financial strategies as life changes occur. 00:36:02

    • Maintain a Positive Mindset: Approach challenges with optimism and agency. 00:42:08

    Actionable Takeaways:

    • Implement regular financial meetings with your partner to track and discuss financial health.

    • Consider unexpected medical costs when planning for financial independence.

    • Maintain a positive and adaptable mindset when facing life challenges.

    Action Items:

    • Start tracking your net worth regularly to understand your financial progress.

    • Set aside time for financial discussions with your partner every few months.

    • Plan for unforeseen medical costs in your financial independence calculations.

    Related Resources:

    • The Simple Path to Wealth
    • FaithFi (formerly CompassOne)

    Discussion Questions:

    • What aspects of financial planning do you think are most important?

    • How can community support impact your personal finance journey?

    • What strategies can you adopt to maintain a positive mindset during challenges?

    • How can tracking net worth change your financial perspective?
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    55 mins
  • FI + Choose | Clint Murphy | Episode 518

    FI + Choose | Clint Murphy | Episode 518
    Oct 28 2024

    Episode Summary

    Clint Murphy returns to ChooseFI, sharing his transformative journey labeled "FI and Choose," emphasizing the importance of choosing a lifestyle that values personal growth and meaningful connections. The hosts discuss their experiences at financial independence events, highlighting how these gatherings foster deep conversations that extend beyond finances. They explore the contrast between accumulating wealth and Pursuing a simpler, more intentional life filled with enriching experiences, including joy from low-cost activities and being present in relationships.

    Key Topics Discussed

    • Connection Through FI 00:02:20

      • The importance of community in financial independence events.
      • Shared experiences and personal growth discussions among participants.

    • The Power of Vulnerability 00:06:00

      • Opening up in conversations to foster deeper connections.
      • Embracing quirks and eccentricities to enhance relationships.

    • Simplicity and Enjoyment 00:10:30

      • Finding joy in low-cost activities, such as playing pickleball.
      • The realization that enjoyment doesn’t require significant spending.

    • FI and Choose Philosophy 00:46:00

      • The idea that achieving financial independence offers choices about how to live life.
      • Aligning personal ambitions with the simplicity of life.
    Actionable Takeaways
    • Explore Joyful Activities: Engage in activities that bring joy without high costs 00:10:30.
    • Build Deeper Relationships: Foster relationships through open and vulnerable conversations 00:06:00.
    Related Resources
    • The Growth Guide Podcast: thegrowthguide.com
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    1 hr and 3 mins
  • 517 | Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett

    517 | Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett
    Oct 21 2024
    Maximize Your Wealth: Understanding Capital Gains Tax Strategies | With Cody Garrett

    This episode dives into the strategy of capital gains harvesting, explaining how it can help individuals minimize taxes on investments and potentially realize tax-free income. We break down how this approach fits into financial independence planning, including key comparisons between capital gains and ordinary income, real-life scenarios, and important health insurance considerations for early retirement.

    • What strategies can you use to reduce your tax burden during retirement?
    • How can understanding capital gains impact your long-term financial decisions?
    • What role does income management play in health insurance planning for early retirement?

    Chapter Markers:
    • [00:00:00] Introduction to Capital Gains Harvesting
    • [00:01:38] Understanding Income Tax and Capital Gains
    • [00:05:22] Tax Rate Comparisons: Ordinary vs. Capital Gains
    • [00:20:07] Real-Life Case Studies
    • [00:49:34] Key Takeaways and Best Practices
    Key Takeaways:
    • Understand your capital gains tax rates to optimize when to sell investments.
    • Use capital gains harvesting to realize profits without tax penalties.
    • Plan retirement income carefully to maintain eligibility for health insurance subsidies.
    Links & Resources:
    • Measure Twice Money
    • Measure Twice Money YouTube Channel
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    51 mins
  • 516 | Masterclass on Muscle Building | Dean Turner

    516 | Masterclass on Muscle Building | Dean Turner
    Oct 14 2024
    In this episode: building muscle for health, sacropenia, consistency and proper form, routines, and recovery. This episode is a deep dive into muscle-building strategies, with actionable advice for beginners and experienced fitness enthusiasts alike. Brad and Dean Turner share practical tips on workout programming, nutrition, and recovery, making it a perfect masterclass for anyone looking to improve their health and strength. Dean Turner: Website: deanturnertraining.comTwitter: @DeanTTraining 🔑 Key Themes Discussed: The importance of building muscle for health, longevity, and independence in later lifeOvercoming age-related muscle loss (sarcopenia) through resistance trainingSimplifying muscle-building techniques for beginners and experienced individualsThe role of proper form, progressive overload, and consistency in muscle growthCommon misconceptions about muscle growth and the science behind itCustomizing workout routines based on individual schedules and goalsThe importance of recovery, rest, and nutrition in maximizing gainsPractical advice on workout programming and exercise selection 🕒 Chapters: 00:00 – Introduction: The Importance of Muscle Building02:00 – Age-Related Muscle Loss and Why Muscle Matters06:00 – Customizing Workouts: 3-Day vs. 5-Day Programs09:00 – Exercise Selection: Upper/Lower Body, Push/Pull13:00 – How Muscle Growth Actually Works: The Science Explained18:00 – Importance of Progressive Overload and Rep Ranges22:00 – Common Workout Mistakes and How to Avoid Them27:00 – Listener Questions: Setting Goals for Muscle Growth33:00 – Understanding Rest Times and Recovery40:00 – Importance of Nutrition: Protein and Macronutrients45:00 – Creating a Sustainable Workout Routine51:00 – Final Tips: Staying Consistent and Tracking Progress 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480“The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by J.L. CollinsHevySubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 18 mins
  • 515 | Cyber Security Update: Social Engineering & Pig Butchering

    515 | Cyber Security Update: Social Engineering & Pig Butchering
    Oct 11 2024

    In this episode: social engineering, pig butchering, cryptocurrency risks, scammer tactics, and avoiding being a victim.

    This week Brad speaks with cyber security expert Tom who will be giving some updates on the landscape of cybersecurity, what targeted scams look like, as well as some actionable steps you can take to avoid these scams. Though it may seem that cybersecurity attacks are ever-evolving and may be harder and harder to avoid, there are ways to make yourself less vulnerable to attacks. Making sure you’re having open conversations about this topic with your friends, and especially your older family members is crucial and can make sure you avoid falling for these scams!

    🔑 Key Themes Discussed:
    • The rise of social engineering scams and how they manipulate victims
    • “Pig Butchering” scams: how scammers build trust, then steal your money
    • How cryptocurrency is used in scams and the risks involved
    • Recognizing investment scams and protecting yourself from fraud
    • The emotional and psychological tactics scammers use to isolate victims
    • The role of AI and fake profiles in advanced scams
    • Actionable steps to avoid becoming a victim
    • The importance of spreading awareness to protect your family and friends
    • Reporting scams and what to do if you’ve been a victim
    🕒 Chapters:
    • 00:00 – Introduction and Overview of Cybersecurity Threats
    • 02:00 – What is Pig Butchering and How it Works
    • 04:00 – Investment Scams and Social Engineering Explained
    • 06:00 – How Scammers Build Relationships and Gain Trust
    • 08:00 – Examples of Scams: Dating Apps, Fake Profiles, and Social Media
    • 12:00 – Cryptocurrency in Scams: What to Watch Out For
    • 16:00 – The Role of AI and Deepfakes in Cyber Scams
    • 18:00 – Personal Stories: Victims Who Lost Everything
    • 22:00 – Action Steps: How to Protect Yourself and Loved Ones
    • 27:00 – How to Report Scams and Recover Funds
    • 29:00 – Recognizing Scams in Everyday Life: Red Flags and Signals
    • 34:00 – Final Thoughts and Preventative Tips
    🔗 Mentioned Links and Resources:
    • Securing Your Financial Life | ChooseFI Ep 397
    • Internet Crime Complaint Center (IC3)
    More Helpful Links and FI Resources:
    • Top 10 Recommended Travel Rewards Credit Cards
    • Empower: Free Dashboard to Track Your Finances
    • CIT Bank Platinum Savings Account
    • M1 Finance: Commission-Free Investing, 1-click rebalancing
    • CashFreely: Maximize Your Cash Back Rewards
    • Travel Freely: Track all your rewards cards and points
    • Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
    • Student Loan Planner: Custom Consult (with $100 Discount)
    • Get a cheaper phone plan with Mint Mobile
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    37 mins
  • 514 | The More I Tinker, The Worse it Gets | Jeremy Schneider

    514 | The More I Tinker, The Worse it Gets | Jeremy Schneider
    Oct 7 2024
    In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation. This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive! Jeremy Schneider: Website: personalfinanceclub.comInstagram: @personalfinanceclub 🔑 Key Themes Discussed: The pitfalls of overcomplicating personal finance and investment strategiesThe power of simplicity in financial management and investingMistakes made in early investing: complex ETFs vs. simple index fundsJeremy’s journey from selling his company to managing a $2M windfallThe surprising truth about target date funds and why simplicity often winsThe concept of “the more I tinker, the worse it gets” in investment strategiesPersonal finance habits that persist from childhood and their impact on adult financial decisionsDividends vs. reinvesting: pros, cons, and psychological aspectsUnderstanding the differences between fiduciary financial advisors and those incentivized to sell productsWhy financial simplicity and automation can lead to better outcomes 🕒 Chapters: 00:00 – Introduction to Jeremy Schneider02:00 – Simplicity vs. Complexity in Financial Decisions03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes06:00 – Complex ETFs vs. Target Date Funds08:00 – How Tinkering Can Lead to Worse Financial Outcomes12:00 – Personal Finance Habits from Childhood14:00 – Dividend Reinvestment: To Reinvest or Not?18:00 – Simplifying Financial Life: Automating Investments22:00 – The Dangers of Chasing Dividends26:00 – Real-Life Examples of Bad Financial Advice33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence 🔗 Mentioned Links and Resources: The 7 Sins of InvestingNectarineSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 7 mins
  • 513 | Make Your Own Dividend | Mailbag with Rachael

    513 | Make Your Own Dividend | Mailbag with Rachael
    Sep 30 2024
    In this episode: getting started early with FI, the 4% rule, retirement accounts, real estate, and safe withdrawal rates. This episode is packed with actionable information that can help with maximizing your financial future, from house hacking to Roth conversions, and strategies for living off your investments. Brad and Rachael dive into real-world listener questions to help you navigate your FI journey with confidence. Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: The benefits of getting started early with financial independence (FI)Evaluating the 4% rule and how to live off investments in retirementUnderstanding the difference between Roth vs. Traditional retirement accountsTax strategies for early retirement and avoiding penaltiesHouse hacking as a way to reduce housing costs and boost savingsReal estate as an investment: risks, rewards, and misconceptionsMaximizing income while keeping expenses low for young professionalsSafe withdrawal rates, dividends, and managing investments post-retirementThe psychological aspects of early retirement and maintaining financial health 🕒 Chapters: 00:00 – Introduction to Mailbag with Rachael01:00 – Starting Early with FI: Gabby’s Journey03:00 – Roth vs. Traditional Retirement Accounts for Young Investors06:00 – House Hacking and Real Estate Strategies09:00 – How the 4% Rule Works for Early Retirement12:00 – Income Maximization for Young Professionals18:00 – Managing Dividends and Withdrawal Strategies in FI24:00 – Safe Withdrawal Rates and Creating Your Own Dividend31:00 – Listener Questions: Roth IRA Conversion Ladder36:00 – Tax Strategies and Avoiding Penalties in Early Retirement43:00 – Rethinking Real Estate and House Hacking Risks51:00 – Wrap-Up and Final Thoughts on Financial Independence 🔗 Mentioned Links and Resources: Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp | ChooseFI Ep 505Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp | ChooseFI Ep 496How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475Drawdown Strategies: Karsten vs. Fritz | ChooseFI Ep 427House Hacking With Coach Carson | ChooseFI Ep 16Scott Trench | Set For Life | ChooseFI Ep 63Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 14 mins
  • 512 | Getting Personal with Personal Finance | Ginger & Anne

    512 | Getting Personal with Personal Finance | Ginger & Anne
    Sep 27 2024
    In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community. This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn’t mean you should wait until you reach your goal to actually start making the moves to get there! Whether you’re near the finish line or just beginning, don’t wait to explore other possibilities that can elevate not only your FI journey but your life. 🔑 Key Themes Discussed: The emotional journey of downsizing and letting go of possessionsAchieving CoastFI and the realization of financial independenceThe significance of mini-retirements and experimenting with lifestyle choicesPersonal growth and redefining goals in mid-lifeThe psychological effects of decision-making in early retirementCreating space for joy and gratitude in life transitionsOvercoming attachment to material possessions and past dreamsBuilding community after major life transitions, such as moving and career changes 🕒 Chapters: 00:00 – Introduction: Ginger and Anne’s Journey01:00 – Anne’s Recent Move and Downsizing03:00 – Discovering Financial Independence Through the FI Formula07:00 – Defining CoastFI and the Big Epiphany Moment10:00 – Reflecting on Personal Goals and Letting Go of Past Dreams13:00 – Experimenting with Mini-Retirements: Learning from the FI Community16:00 – Downsizing: The Emotional Process of Letting Go22:00 – Influence of Family Illness and Death on the FI Journey27:00 – The Challenge of Winter Depression and Its Role in Change31:00 – Selling the Family Home: Closure and Moving Forward36:00 – Gratitude and the Practice of Being Present40:00 – Taking the Leap: Early Retirement and What Comes Next46:00 – Finding Community and Building a New Life After Moving51:00 – The Courage to Try New Things and Embrace Discomfort55:00 – Final Reflections on Joy, Curiosity, and Living Without Regret 🔗 Mentioned Links and Resources: Contact Anne: anne.andrew907@gmail.com“Disrupt Yourself, With a New Introduction: Master Relentless Change and Speed Up Your Learning Curve” by Whitney Johnson“The Artist’s Way: 30th Anniversary Edition” by Julia CameronRetire Often PodcastFamous Failures“Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life” by Ovan VarolSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 6 mins