In this episode of ChooseFI, hosts Brad and Sean Mulaney dive deep into tax strategies crucial for financial independence, focusing on tax basketing, asset location, and effective use of retirement accounts. The conversation includes recent changes regarding 529 plans funding Roth IRAs and reassurances for those starting their financial journey at any age. FI Tax Guy | What to know about the ins and outs of the new SECURE 2.0 529-to-Roth IRA rollover provision Read Article Fidelity's 529 Withdra...
Apr 14, 2025•52 min•Ep. 542
Embracing Aging, Community, and Financial Independence Episode Summary: In this enlightening episode of ChooseFI, host Ginger talks with Vicki Robin, renowned author of Your Money or Your Life . The conversation delves into the complexities of aging, the importance of community connections, and how financial independence plays a critical role in preparing for older age. Vicki shares her journey of self-reflection, encouragement towards active community engagement, and the necessity of discussing...
Apr 07, 2025•58 min•Ep. 541
Episode 13 : Episode 279: Episode Summary: Lexi, a first-grade teacher from Las Vegas, shares her journey into personal finance, revealing how finding ChooseFI empowered her financial goals. Initially focused on homeownership, her perspective shifted during the COVID housing market boom, leading her to invest in her skills and explore high-yield savings accounts. The support of the local ChooseFI community helped optimize her retirement accounts and reshape her views on wealth and financial inde...
Mar 31, 2025•44 min•Ep. 540
Brad, Katie, and Alan Donegan discuss the groundbreaking financial independence-themed music album "Money Revolution." Through four key songs, they navigate the essential aspects of the financial independence (FI) journey, emphasizing the importance of taking action, understanding compounding, and finding purpose beyond traditional employment. The episode also highlights their recent recognition with a British Empire medal for their contributions to financial education. Key Themes & Timestamp Hi...
Mar 24, 2025•1 hr 2 min•Ep. 539
Brad dives into a CoastFI MasterClass with Jess, and Corey from The Fioneers —where saving for retirement becomes optional. ?? Jess and Corey, popularizers of the term, share their unique journey transitioning from high savings rates to a fulfilling CoastFI lifestyle. They explore vital themes like financial flexibility, the psychological aspects of money fears, and how experimentation in spending can lead to empowered financial outcomes. 00:02:28 Defining CoastFI CoastFI is described as a finan...
Mar 17, 2025•58 min•Ep. 538
Community member Bill Powell shares his inspiring journey from a blue-collar background riddled with credit card debt to achieving financial independence. He emphasizes accountability through journaling, mentorship, and the importance of financial literacy within blue-collar professions. Bill explores the value of small, consistent actions and meaningful connections, highlighting that they lead to extraordinary results on the path to financial freedom. Key Takeaways Accountability Practices: Eng...
Mar 10, 2025•46 min•Ep. 537
Ron Babcock shares his multifaceted journey towards financial independence, combining his experiences as a TV editor, stand-up comedian, and family man. He discusses the value of long-term thinking in financial decision-making, the importance of community in the financial independence journey, and actionable budgeting strategies. Timestamps and Topics: 00:00:00 Introduction to Ron Babcock Ron introduces himself and shares how he got involved in the FI community. 00:00:58 Connection with the FI C...
Mar 03, 2025•1 hr•Ep. 536
Brad and Cody Garrett from Measure Twice Money dive into the ten most common mistakes that even savvy investors make. They cover essential topics from asset location to maximizing health savings accounts (HSAs), emphasizing a holistic approach to financial wellness. Key Takeaways: Understanding the impact of asset location on tax liabilities. Importance of auto reinvestment for maximizing investment growth. Weighing the hassle versus savings in financial decision-making. Strategies for maximizin...
Feb 24, 2025•58 min•Ep. 535
This episode discusses financial independence strategies, including Barista FI and Coast FI, along with insights into inherited accounts post-Secure Act (2020). Listeners will learn about health insurance considerations in early retirement, the dynamics of inherited IRAs, and how to manage finances during entrepreneurial transitions. The discussion highlights the importance of treating business expenses as valid investments and navigating inheritance with strategic planning. Timestamps & Key Tak...
Feb 17, 2025•58 min•Ep. 534
Ginger interviews Brad as they delve into the personal side of financial independence, focusing on the real struggles and triumphs behind the scenes of ChooseFI. The conversation emphasizes the importance of relatability and the idea that financial independence is accessible to everyone, not just experts. They discuss 'one more year syndrome,' the impact of financial independence on personal relationships, and how valuing experiences over material possessions enriches life. The ChooseFI Member's...
Feb 10, 2025•1 hr 4 min•Ep. 533
Introducing The 'Wouldn't It Be Cool If' Series Episode Summary: 2025 marks the start of an exciting new era for ChooseFI ! In this episode, hosts Jonathan and Brad dive into the journey to financial independence—what it means, how to define your FI number , and why taking control of your finances is crucial. Plus, we’re evolving! This year, we’re harnessing the power of community to crowdsource the best personal finance strategies— with your help . Tune in and be part of the movement shaping th...
Feb 03, 2025•46 min•Ep. 532
Explore the latest insights on the stock market performance and investment strategies with friend of the show and frequent guest Brian Feroldi. This episode dives deep into the trends that shaped 2024 and what to expect in 2025, discussing everything from the significance of the S&P 500 to long-term investing principles and the impact of emerging technologies on market growth. Key Topics Discussed: 00:00:44 Review of 2024 Market Performance S&P 500 Gains: The S&P 500 saw a 25% increase in 2024, ...
Jan 27, 2025•40 min•Ep. 531
Chris Terrell shares his personal journey with electric vehicles (EVs) and discusses the financial implications of owning one. Highlighting key incentives like the Inflation Reduction Act and the benefits of home charging, the conversation delves into the affordability, practicality, and simplicity of EV ownership, providing insights for financial independence enthusiasts contemplating the switch to electric. Chapters 00:01:08 Introduction Host Brad and guest Chris Terrell discuss the transition...
Jan 20, 2025•1 hr 11 min•Ep. 530
Laura's shares how she transitioned from a high-stress academic career to retirement. Discover the challenges of job identity, financial planning discussions with family, and the mental preparations for life after work. Laura’s career as an associate professor in genetics involved heavy grant writing and significant stress, particularly as a parent. The pandemic and her husband's early retirement influenced her decision to consider early retirement. Conversations about financial independence oft...
Jan 13, 2025•55 min•Ep. 529
In this episode of ChooseFI, co-host Brad sits down with Jordan Grumet, author of The Purpose Code , to discuss the crucial differences between "big P" purpose and "little p" purpose. They explore how identifying small, meaningful activities can bring joy and fulfillment to life. Jordan elaborates on turning regrets and childhood joys into "purpose anchors" and emphasizes actionable strategies to create a life filled with purpose through clarity, agency, and incremental changes. Key Topics Discu...
Jan 06, 2025•49 min•Ep. 528
Join Brad, Jen, and Jill as they navigate the intricate balance between frugality and financial independence. Explore creative alternatives for spending less, and the importance of aligning your finances with your core values. Key Topics Discussed Introduction to Frugality (00:00:00) Overview of the tension between overspending and frugality. Importance of values in financial decisions. The Extremes of Spending (00:02:00) The trend of swinging between extremes in spending and income earning. Fin...
Dec 30, 2024•58 min•Ep. 527
Our Favorite episode of the year, listeners share their remarkable financial wins and transformations throughout the year. These stories highlight the power of financial independence (FI) and showcase actionable steps taken by individuals and families on their journeys. Timestamped Key Topics: 00:00:25 Celebration of Listener Wins Jonathan and Brad express excitement about sharing audience achievements over the year. 00:02:44 Defining Financial Independence (FI) FI is described as a deliberate j...
Dec 23, 2024•1 hr 16 min
Brad shares insights from his life-changing trip to Asia and how it reshaped his perspectives on connection and gratitude. He highlights the importance of direct human interactions and how travel exposes the beauty of our shared humanity. Ginger emphasizes the value of taking risks to build relationships and the significance of continuous learning. Additionally, they discuss the upcoming changes at ChooseFI, including the ability to interact with experts and community engagement through question...
Dec 16, 2024•1 hr 15 min•Ep. 525
Join Brad Barrett and a panel of community members as they explore the transformative experiences at the FI Freedom Retreat . This episode dives into the importance of community connection, personal growth, and designing a balanced life centered around financial independence. Highlighted stories emphasize overcoming fears, embracing sabbaticals, and discovering that the journey to financial independence involves much more than numbers. Key Takeaways: Importance of Community: Financial independen...
Dec 09, 2024•51 min•Ep. 524
Katie Donegan shares her shift in perspective on the journey towards financial independence (FI), revealing the struggles she faced as a resistant partner and her eventual embrace of the FI lifestyle. She touches on the significance of personal development, overcoming internal blocks, the impact of comparison, and perfectionism on happiness. The conversation explores maintaining balance between work and leisure while finding purpose and practical advice for navigating financial independence. Key...
Dec 02, 2024•1 hr 2 min•Ep. 523
Kyle and Jamie Holmson paid off an astounding $123,000 in medical student loans in just three years—all while balancing a waitress’s salary and a resident’s income. Their journey highlights the importance of adopting simple, practical financial strategies while prioritizing essential relationships, health, and enjoyable experiences. Debt Repayment Journey 00:01:45 Paid off $123,000 in medical student loans in just three years! Kyle and Jamie’s strategy included living below their means and aggre...
Nov 25, 2024•1 hr 3 min•Ep. 522
Answering Listener Questions on asset allocation, retirement strategies, and the intricacies of real estate investing. With Brad Barrett and Rachael Camp. Whether you are pondering upon the backdoor Roth IRA strategy or seeking clarity on managing funds without a 401k, this episode is for you! Public Service Announcement : Importance of filing the Beneficial Ownership Information form for legal entities by December 31st 00:01:21 . Mailbag Questions : How to Invest Without a 401k : Options includ...
Nov 18, 2024•1 hr 7 min•Ep. 521
Justin David Carl shares his remarkable journey from being $80,000 in debt and working in Hollywood nightlife to achieving financial independence and impressive fitness goals. He discusses key principles that guided his transformation, including the importance of environment, community, accountability, tracking metrics, and embracing a growth mindset. Key Topics and Takeaways 00:02:44 Justin's Awakening Moment Discovering financial independence through Mr. Money Mustache and ChooseFI. Justin sha...
Nov 11, 2024•59 min•Ep. 520
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...
Nov 04, 2024•55 min
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 ex...
Oct 28, 2024•1 hr 3 min•Ep. 518
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 ...
Oct 21, 2024•51 min•Ep. 517
In this episode: building muscle for health, sacropenia, consistency and proper form, routines, and recovery. This episode is a deep dive into muscle-building strategies, with actionable advice for beginners and experienced fitness enthusiasts alike. Brad and Dean Turner share practical tips on workout programming, nutrition, and recovery, making it a perfect masterclass for anyone looking to improve their health and strength. Dean Turner: Website: deanturnertraining.com Twitter: @DeanTTraining ...
Oct 14, 2024•1 hr 18 min•Ep. 516
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 attack...
Oct 11, 2024•37 min•Ep. 515
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 ...
Oct 07, 2024•1 hr 7 min•Ep. 514
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, I...
Sep 30, 2024•1 hr 14 min•Ep. 513
