We are checking back in with Vivan from our Households of FI series who has been paired with mentor, Tae from Financial Tortoise, to go over strategies, best practices, and considerations for multiple generations living under one roof. In many Asian cultures, adult children are responsible for taking care of and being financially responsible for aging parents while also raising their own children, often referred to as the Sandwich Generation. Whether or not being financially responsible for pare...
Mar 08, 2021•51 min•Ep. 302
What are you getting hung up on with relationships and money? We continue the conversation in Part 2 of the Relationships and Money series with Jillian Johnsrud. Although March is finally here and the sunshine is motivating Jonathan to push away the processed carbs in favor of broccoli and hummus, Richmond’s recent ice storms had Brad using his stash of travel rewards for the first time in over a year. Travel rewards come in handy at home too. After losing power from the storm, Brad called up a ...
Mar 05, 2021•51 min•Ep. 301
Money is one of the top three things people struggle to communicate with, falling right below sex and above our reasons and motivations for work. In her coaching practice, Jillian finds clients will be very open in one-on-one sessions, but when working with couples, it becomes much more uncomfortable. Jillian believes this discomfort is because discussions of things like sex and money happened behind closed doors and weren’t modeled for us growing up. In response to a call put out for questions ...
Mar 01, 2021•44 min•Ep. 300
It's ChooseFI's first live radio show! Recorded live on Tuesdays at 7:30 pm Eastern using an app called Stereo, the live shows will be replayed for the Friday Roundup episode. The topic of this interactive live show is: “What is stopping you from reaching financial independence?”. Lorraine has a question about allocation and investing in one of Vanguard’s funds like VTI or VTSAX but the answer is situation-dependent. It’s important o know the investing timeline Lorraine is looking at, but hopefu...
Feb 26, 2021•1 hr 16 min•Ep. 299
We are checking back in with our Households of FI family, Martin and Ayesha, who have been paired with mentors, Julien and Kiersten of Rich and Regular. Kiersten and Julien live in Atlanta and started working toward FIRE before they married five to six years ago and have paid off $200,o00 in debt, including their mortgage. They now share their journey on their blog rich & REGULAR . Ayesha and Martin live in Chicago and found ChooseFI in January 2020 and jumped in with both feet. Martin is a natu...
Feb 22, 2021•1 hr 29 min•Ep. 298
What You'll Get Out Of Today's Show If you are willing to look outside your comfort zone, grab good information, and take action on it, you can change your life in a matter of weeks or months. One of the hardest-hit industries during the pandemic has been hospitality. Working in that industry, Anita was looking down a long dark tunnel before stumbling upon the FI community. When Anita found ChooseFI in August, she jumped right in, taking action and interacting with Brad through the FI Weekly and...
Feb 19, 2021•57 min•Ep. 297
We are circling back to check in with our Households of FI families. First up are Matt and Megan, our international, dual military couple. Having a military pension is like having multiple lottery tickets. You have both healthcare and an inflation-fighting pension, but how many of these lottery tickets do you need to really crush this game? Naval service is Doug Nordman's family business. In addition to his own 20 years of service in the Navy, his wife almost had 20 years of active duty service ...
Feb 15, 2021•2 hr 42 min•Ep. 296
This Friday's episode continues with the theme of looking back at how our perspective has changed since the show began. What has changed, have we pivoted, and what do we feel more confident about now than we did then? Last Friday Brad shared the saga of trying to find out how much a CT scan was going to cost him. In response to the story, members of the community reached out with their ideas for saving on the cost. One listener shared a link for MDsave.com , a company that contracts with differe...
Feb 12, 2021•56 min•Ep. 295
Amanda Holden's approach to educating others includes laughter and shenanigans to democratize information and get it to stick. Amanda worked in corporate America at an investment management firm, but helping rich men get richer wasn't her calling. She hated the job and decided to establish a set of rules that we allow her to quit in six months and go travel. She chose to supplement her bare-bones spending by living off the excess of others. That including asking for leftover uneaten lunches whic...
Feb 08, 2021•36 min•Ep. 294
Wondering what happened with GameStop and confused about what a short squeeze is? The complexity of this kind of trading is far from the simple strategy of buy and hold investing. Even for those who have no plans to jump on bandwagon, it's good to understand exactly what is going on. We can learn what's happening, how it works, and move intelligently forward. In an effort to understand systems, Brad has been having a maddening healthcare experience. He needs a CT scan but hasn't been able to fin...
Feb 05, 2021•1 hr 6 min•Ep. 293
M1 Finance transformed Jonathan's ideas about how simple complexity could be and has quickly become his favorite investing platform, especially for taxable accounts. Brian Barnes investing story begins at the age of 10 when his parents exposed him to trading stock in a brokerage account with Ameritrade. He was captivated by the notion of investing and the intellectual puzzle of how a company was doing. His parents laid a general foundation of financial independence and security. Once basics were...
Feb 01, 2021•1 hr 4 min•Ep. 292
After four years of working on the ChooseFI podcast, Brad and Jonathan want to share their lessons learned, the list of things they might do differently, and highlight a few episodes to re-listen to. Brad is back in the studio after missing out on Episode 290 with Paul Merriman. He's doing fine and appreciates everyone's concern. With Paul Merriman's Ultimate Buy and Hold Portfolio strategy, the thesis is that diversity is great, but own equal amounts of all asset classes versus a cap-weighted i...
Jan 29, 2021•1 hr•Ep. 291
Does your portfolio own enough of the companies that carry a lot of the growth over extended periods of time? When you buy index funds, you aren't as diversified as you think you are. Cap weighted index funds mean you are buying a lot of the companies that are doing really well. But there are two asset classes Paul Merriman is a fan of that he thinks don't get enough attention, small cap and value. Although many people claim to believe in a buy and hold strategy with investing, their behavior sa...
Jan 25, 2021•1 hr 2 min•Ep. 290
For almost 12 months, we've all been trying to do the best that we can. As frequently discussed on the show, we try to do things slightly different, optimize in the ways that we can, and make the best of the situation. Jonathan's wife Dani has been coming up with all kinds of creative little activities for the kids. Even Jonathan was recruited for a rock painting project. Brad has been listening to a new podcast, Ordinary Sherpa , created by Heidi, a member of Jonathan's Talent Stacker podcast. ...
Jan 22, 2021•59 min•Ep. 289
Should you rush to reach FI? Or use it as a map in a lifelong pursuit to master your relationship with time, money, and happiness? Brandon, from the Mad Fientist, wishes he would have found more free time to work on other goals while on his journey to FI. When Brandon was first on the show four years ago, he had just reached FI and discussed the psychological hurdles he had to overcome. What's changed for him since then, and with the benefit of hindsight, what would he do differently? Brandon's ...
Jan 18, 2021•1 hr 7 min•Ep. 288
Are you the kind of person who sets New Year's resolutions? Like many Americans, Jonathan used to set weight loss goals for the new year, but not this year. Instead, he and his accountability partner, JD Roth, spent the previous nine months working on it and began the year, at or very close to their goal weight. Not having to work on big weight loss goals is allowing Jonathan to be aware and focus on testing smaller adjustments that will make him feel better and have more energy. Brad once had a...
Jan 15, 2021•51 min•Ep. 287
Many industries we once believed were recession-proof have proven otherwise. What can we do to build multiple streams of income and the resilience needed so that we're not reliant on anyone else for financial security? Side hustles and passive income are key strategies. Daniella worked for an IT company for four years when they laid her the weekend before her wedding. Luckily, she quickly found a remote job working as a contractor but was laid off from it as well. The layoffs ruined Daniella's c...
Jan 11, 2021•39 min•Ep. 286
What You'll Get Out Of Today's Show 2021 kicks off the fifth year of the ChooseFI podcast. Despite being at different points in their own financial journeys, Brad and Jonathan have experienced the benefit of incremental growth with both their finances and self-improvement. While it may seem simple and even mediocre, they are living amazing lives. You need to control what you can control, starting from wherever you are. If you can optimize at the margins, you can reclaim decades of your life. It'...
Jan 08, 2021•51 min•Ep. 285
When it comes to investing strategies, one of the most influential books available claims that if you keep it simple, you'll actually do better. Here to talk about the philosophy behind his investment strategy is one ofChooseFI's most requested guests, JL Collins , author of The Simple Path to Wealth , and popular blog series, The Stock Series . The influence of JL Collins cannot be overstated. The content he produced changed the trajectory of Brad's life and made him feel comfortable investing....
Jan 04, 2021•1 hr 12 min•Ep. 284
It's Part 3 of ChooseFI's end-of-year wins where we hear directly from our community members. During this live event, listeners shared the actions they've taken during the past year that have helped them to spend less, earn more, and enjoy the journey. This year, the year-end-win episode took place in a three hour live Facebook and YouTube event featuring around 20 members of the community. Are you building an amazing life or are you a cog stuck in a very depressing wheel? It could be either or ...
Jan 01, 2021•1 hr 3 min•Ep. 283
It's Part 2 of ChooseFI's end-of-year wins where we hear directly from our community members. During this live event, listeners shared the actions they've taken during the past year that have helped them to spend less, earn more, and enjoy the journey. This year, the year-end-win episode took place in a three hour live Facebook and YouTube event featuring around 20 members of the community. After listening to the podcast for months or years, how did individual members of the community take in in...
Dec 28, 2020•57 min•Ep. 282
It's the ChooseFI Christmas Edition where we hear end-of-year wins direct from our community members. During this live event, listeners shared the actions they've taken during the past year that have helped them to spend less, earn more, and enjoy the journey. This year, the year-end-win episode took place in a three hour live Facebook and YouTube event featuring around 20 members of the community. Despite how tough this year has been, many people were able to implement some of the strategies an...
Dec 25, 2020•42 min•Ep. 281
Is it possible to live fabulously without being fabulously broke? The Debt Free Guys say you can. After a year and a half of dating, John and David finally came out of the closet to each other regarding their finances. Between the two of them, they had $51,000 in credit card debt even though they had 15 years of experience in financial services helping others with managing their money. Starting with the first credit card his parents gave him for emergencies, David began a 17-year run carrying cr...
Dec 21, 2020•52 min•Ep. 280
Teachers have been getting taken advantage of when it comes to their investment options. Thankfully, the internet and technology have made it easier to get the word out and help teachers wanting to do better. During his first year of teaching, Dan Otter was asked if he cared about his financial future. He politely listened to a hardball sales pitch about an investment scheme he didn't fully understand. Rather than blindly following other teachers at his school who had invested in it, Dan began t...
Dec 18, 2020•40 min•Ep. 279
Don't fall for the misconception that financial independence is just for 20 and 30-year-olds. It is for everyone at any age and it's not too late to get started. Amy had a wake-up call in her early 40s. Starting with no net worth, through flexibility and adaptability, she got started and reclaimed decades of her life. Amy describes herself as a trier of many things. She used to wonder how other people do it. How do other people drive new SUVs, live in a large home, dine out, and save for their k...
Dec 14, 2020•46 min•Ep. 278
Setting up your financial life includes updating your investor policy statement and examining the rationale for equal weighting inside your index funds. Brad is giving his physical fitness a boost in December with a month-long burpee challenge. A full-body exercise that can be done quickly at home without any equipment, Jonathan asks what would change about your life if you took the challenge of doing 10 burpees every day for the next year? Brad was inspired to take on the burpee challenge after...
Dec 11, 2020•1 hr 1 min•Ep. 277
Continuing the conversation discussing financial basics, today's episode covers how to get started investing, banking, and setting up your financial life. As a recent college graduate, Brad had the motivation to get his financial life together but didn't really know how to go about doing it. During his first job, he wanted to open up a Roth IRA after learning about the power of compound interest. Unfortunately, the investment advisor who helped get him set up invested in a fund with a 5% upfront...
Dec 07, 2020•52 min•Ep. 276
It's no secret that Brad and Jonathan's families are board game fans. One way they can typically save 20-60% on the cost of board games is by watching for price drops on Amazon using CamelCamelCamel . Brad was able to save a substantial amount on the purchase of a squat rack simply by being able to stand by and wait for the price to drop. Listener Liz heard about CamelCamelCamel on the podcast and added a list of board games to her watchlist. She was eventually able to purchase all of them at ro...
Dec 04, 2020•52 min•Ep. 275
It's end-of-year tax planning time. As you get further along in your financial independence journey, there are likely more end-of-year tax planning items you'll need to be aware of. Having a checklist to review annually is useful. It's been an unusual year and December is that time to begin making end-of-year tax considerations. In addition to the normal checklist, there may be additional items to consider in this remarkably different year. Sean Mullaney says unique to 2020 are Roth conversions....
Nov 30, 2020•54 min•Ep. 274
We're going back to basics and taking a deep dive into the Roth IRA and the levers, tools, and investing strategies available to investors. Although ChooseFI offers the free FI101 course , taking small actions are important. Get up to speed and start taking action with the free five-day challenge by going to ChooseFI/start . ChooseFI has presented basic investing strategies over the years and will revisit in the coming months to distill and hash out all of the different methods to understand the...
Nov 27, 2020•49 min•Ep. 273
