As we begin a new year, I think it's fitting to start with a discussion of financial independence! My desire for all of you is that you may experience financial independence as you define it and that you may establish a workable plan this year toward its achievement. Tim Stobbs is right in the middle of his financial independence plan. After stumbling across the idea of early retirement/financial independence, he was awakened to the possibility that an ordinary person could achieve it. He set ou...
Jan 02, 2015•1 hr 3 min
My guest today is Paul Merriman . I was introduced to Paul by a couple of listeners who requested I bring him on the show. I'm glad they did! Paul is an experienced financial advisor. But, he did that as a retirement hobby rather than as a wealth-building strategy. To build his wealth, Paul took over, built, and then sold a manufacturing company. After retiring in 1982, he proceeded to build Merriman, a Seattle-based investment advisory firm. He grew the firm from nothing to $1.6B of assets unde...
Dec 30, 2014•56 min
Today, I bring you an interview with a dynamo: Eva from TeensGotCents.com . I met Eva in New Orleans at the FinCon conference. She was attending with her mother and I was incredibly impressed with her. Eva writes about about personal finance for a teen audience. She began at the age of 15 and she shares her own journey and also gives advice for other young people. In the interview, we weave two themes: Eva's advice for teens Eva's own experience/example as a financial blogger Both of these theme...
Dec 29, 2014•43 min
Personal finance touches every aspect of life by definition. Every aspect of our life involves finance in some way. As we make the decisions of life, we're constantly faced with cost and opportunity cost: Is it wise of me to allocate this $100 to a memorable evening's entertainment with my family or to set it aside toward a larger vacation fund? Should I use some extra money to upgrade the look and style of my wardrobe or purchase some extra books or classes to advance my knowledge? Am I better ...
Dec 26, 2014•50 min
My guest today is Dr. Vern Poythress . Dr. Poythress is a mathematician and a theologian. Most important for this discussion, he and his wife, Diane, are parents to two children, both boys. Dr. Poythress authored an article entitled " How I Helped My Boys to Become Christian Men ," in which he outlined his family's approach to establishing a formal rite of passage for his sons to become men at 12 or 13 years old. His formal test and qualifications for them included religious training, knowledge,...
Dec 23, 2014•52 min
My guest today is Ben Falk . Ben is a really incredible permaculture designer with a comprehensive focus. Ben runs a planning firm called Whole Systems Design . Through this firm, he "identifies, designs, and develops human habitats - landscape and infrastructure systems - that yield perennial abundance and enduring value. These are adaptive, resilient and secure places in a future of peak oil, climate instability, and deepening economic insolvency." They also "plan, develop, and manage land-bas...
Dec 22, 2014•1 hr 11 min
On Fridays, I answer your questions! I decided I didn't want to handle any of the in-depth, math-related questions today so I chose these three questions to handle. 1:41 - What can I do to prepare for being the executor of someone's estate? 16:49 - How can I reconcile the idea of being a specialist in my field with the advantages of being a generalist? 48:09 - What can I do to ensure a smoothe transition to a single-income household? I hope you enjoy the show! Joshua Links: NOLO: The Executor's ...
Dec 20, 2014•1 hr 14 min
Today, we welcome Jim Rawles , Founder and Editor of SurvivalBlog.com back on the show to discuss improving your lifestyle and personal resilience by moving. We talk about optimizing your lifestyle within the United States by carefully selecting your location as well as the pros and cons of international expatriation. Topics include: Ideas for playing the "State Line Jumping Game" (living in a no-income-tax state and shopping next door in no-sales-tax state). Brief mention of the "Five Flags The...
Dec 18, 2014•54 min
Today on the show, I've got some last-minute tax planning ideas for you. These are all ideas and tactics that you can use in the last two weeks of 2014 to lower your income tax bill. I hope you don't defer your tax planning to the end of December. The end of the year is far too late to start talking about the really good stuff. Good tax planning should begin before January 1. But, these types of ideas can still be useful for you. It's possible that you've simply been too busy to do effective pla...
Dec 17, 2014•1 hr 19 min
Is education something that we buy or something that we work for? Ever thought about that? My guest today is Scott Young. I first heard of Scott when I watched his TEDx talk on "How to Get an MIT education for $2,000." This interview is filled with tidbits that will be useful to you whether you're designing your own education or whether you're helping someone else with their educational plan. Enjoy! Joshua Links: ScottHYoung.com...
Dec 17, 2014•1 hr 10 min
I love real estate investing. I think it's one of the most accessible, realistic ways for people to grow their long-term wealth at an excellent rate of return. Today, I'm thrilled to bring you an interview with John Schaub . John is widely renowned as one of the good guys. John has been investing in real estate for decades. He's also been teaching the subject for decades. He has a wealth of ideas and knowledge to share with us today. Enjoy! Joshua Links: JohnSchaub.com John's Seminars John's rec...
Dec 16, 2014•1 hr 9 min
Today, we have a really fun Q&A for you! I hope you enjoy! Here are the questions I answer: 2:25 If I have the cash, should I pay cash for a house or invest it? 17:13 Should I use my Coverdell ESA to speculate on early-stage biotech stocks? 28:05 Should a physician try to continue a private practice with a partial ownership interest or take a full-time hospital job? 40:38 How can I account for the business deductions in my side business? 49:40 Is multi-family, multi-generational living a goo...
Dec 13, 2014•1 hr 57 min
Today, I have a really great interview on finance from a Canadian Perspective. But make sure to listen whether you're Canadian or not. My guest is Dan Bortolotti, founder of the Canadian Couch Potato website. He has a really great story where he began as a personal finance writer and blogger and later moved into the space of being a professional financial advisor. We chat about: The value of a paying fees to a financial advisor The fit between PF writer and advisor Canadian tax law and retiremen...
Dec 11, 2014•1 hr 17 min
The new year is fast upon us. Even though we're in the midst of the busy holiday season, this is a convenient time to consider the success and failures of this year and look forward to plans for next year. Even though the articles you're now seeing in your feeds on "10 End-Of-The-Year Planning Ideas" can be useful, they just don't get it done because they're not focused on the core need. The fundamental key of financial planning is to understand the process. Building wealth is a process. Achievi...
Dec 10, 2014•1 hr 16 min
Financial Planning is--and should be--fully integrated with every aspect of life. Often, there are non-financial ways of hitting financial goals that are more efficient than just simply "buying the solution." Helping your children develop their talent is one such area of focus. If you can launch a young man or woman with real, useful skills that have an economic value in the marketplace and which are aligned with their individual personality and interests, they will be far ahead of many of their...
Dec 09, 2014•1 hr 44 min
Doug Nordman is a really neat guy who has made an incredible contribution to the Early Retirement (ER) community. Known affectionately in various forums as "Nords," he contributes a rational, learned perspective on financial topics. He and his wife both retired from the US Navy. Doug was 41 and has somehow managed to stay retired for the last decade. ;) Join us today for a really neat discussion of the history of the early retirement movement and some of the contributions from its early leaders....
Dec 08, 2014•1 hr 12 min
It's Friday! That means a Q&A show for you. Today, I answer all of these questions. Here are the questions and the time stamp for where each can be found in the episode. Enjoy! Joshua 10:00 - Brandon: How do I convey our financial information to my executor if my wife and I die? Should I have my testamantery trust managed by a professional trustee? 29:43 - Kyle: How do I save money on taxes as a young, single physician resident? 54:01 - Daniel: Is it ok for a young person to have a 100% stoc...
Dec 05, 2014•1 hr 48 min
In today's world, it's easy to find reasons for pessimism. And yet, we truly live in a time of greater abundance and quality of life than ever before. Join me today as I share some reasons for being thankful and grateful to be alive today. It's a good time to be alive. Joshua Links: Ericsson Mobility Report for November 2014 How Fast is 5G?...
Dec 04, 2014•54 min
Today we have a really fun interview with Steve Maxwell . Steve is the father of eight and his three oldest sons have all purchased their houses debt-free, in their 20s, and before marriage! His younger two sons have the same vision and are on track for a similar result. How cool is that?! Steve is an electrical engineer by training. He left his engineering job however and now spends his time writing books and traveling the country speaking and encouraging others with his ministry organization, ...
Dec 03, 2014•1 hr 50 min
Today, I have a really great show for you with Christopher DeLaney. Christopher and his wife have two little kids and they maintain a modern lifestyle without a car! Impressive! Christopher is gentle, unassuming, knowledgeable, and very helpful! Enjoy this interview! Joshua Links: Article about Christopher and his family on Bike Portland Interview with Christopher and his wife on the Sprocket Podcast Pictures of a "Bakfeit" bicycle...
Dec 02, 2014•1 hr 7 min
Well, it took a few days longer than I planned because of the fact that its 600 incredibly dense pages, but today I share with you my review and critique of Tony Robbins' new book. This was a very challenging project for me and frankly, it simply bogged me down in research. It's really a great book. Highly recommened. But, it also has some things I'm not imporessed with and some minor and major flaws. The show is long and in depth and my comments are organized around these themes: Intro & Pr...
Dec 02, 2014•3 hr 36 min
In our current culture, it's easy to become discouraged and feel as though the American Dream is out of reach for the common person. Is it easier to achieve now than in the past? Is it harder? Let's leave that debate for another day. Frankly, it doesn't much matter in your individual situation. What does matter is whether it's possible to improve your circumstances and to pursue your version of happiness. My guests today are proof that the American Dream is alive and well for some people. In man...
Nov 24, 2014•1 hr 35 min
Today, we take a look at one of the most misunderstood and underutilized accounts in your tax-planning aresenal. The Coverdell Education Savings Account can be incredibly useful as a tool for you to pay for: elementary school expenses secondary school expenses homeschool expenses (in some states) college expenses vocational school expenses and more! Perhaps more importantly, there are very few things you can't use as an investment in the account. You can choose to invest in: real estate notes ta...
Nov 20, 2014•2 hr 31 min
My guest today is David Downie, an attorney from Australia. David found himself stuck in the middle of his career, frustrated at life and simply decided to quit without much of a backup plan. Many adventures have ensued! Since that time, David has: Written children's books Contributed to the book 1001 Beers You Must Taste Before You Die Travelled Written a book on Radical Immediate Retirement The interview is thought-provoking in every way! Enjoy! Joshua Links: DavidJDownie.com - David's site ab...
Nov 19, 2014•1 hr 23 min
What can you do if you're feeling a bit stuck financially? Basically stuck in the rat race? Expenses about equal to income and some debt hanging on? Well, one strategy you could pursue would be to dramatically reduce your expenses by getting rid of your stuff, downsizing into a "tiny house," and getting rid of your cars. Today's guest did that! And it ultimately led to her being able to build a lifestyle of financial freedom through entrepreneurship. Tammy Strobel has a Bachelors of Arts in Econ...
Nov 18, 2014•1 hr 7 min
I've done a number of interviews on the show with early retirees and early retiree hopefuls. One common theme is that many of them are using traditional retirement accounts but are planning to retire before 59.5. How is that possible without paying a bunch of penalty tax? Today, I share with you the answer to that question. They may not actually take distributions from the retirement accounts. They might pay the 10% penalty tax because it's cheaper than the alternative. They might do a Roth Conv...
Nov 17, 2014•1 hr 15 min
It's Friday! Today, I have a Question and Answer show for you and I've decided to handle a bunch of your questions. I felt like I cheated you last week by only answering 3 questions. (6:27) How do I calculate a portfolio distribution amount that retains 50% of my portfolio at my death? (20:31) Is it ok to keep money in cash or do I need to invest right away to start getting compound interest? (40:21) How do I rebalance my accounts to get a proper bond allocation? (52:28) Should I pre-pay my mort...
Nov 14, 2014•52 min
There's a lot of interest in our current-day world with the ideas of survivalism and prepping. One visit to your local bookstore's magazine rack will illustrate this to you. Economic recessions and depressions, market instability, political gyrations...all of these things contribute to a general sense of unease for many people. What could we learn about financial planning if we applied the mindset of a survivalist to our current reality? I'm thrilled to bring you an interview today with James We...
Nov 13, 2014•2 hr 3 min
Planning for a child's college expenses is a major financial goal for many parents. Unfortunately, this is an area filled with conflicting advice. Some people feel that saving for college is a financial goal of utmost importance; others feel it's not worth the money. Many that desire to save for the goal get constantly conflicting advice on whether to do a pre-paid tuition plan, 529 college savings plan, EE education bonds, cash value life insurance policy, or any of a couple other dozen exotic ...
Nov 12, 2014•1 hr 8 min
Today, we celebrate our 100th episode! I'm thrilled to hit this milestone! In today's show I share with you a bit about the genesis of the show, the path we've been on so far, and why I have done it the way I have. Additionally, I share with you my vision for the future of the show. Specifically, today I'm launching The Irregulars, my new membership support program. Please listen to the show and understand why I've chosen a listener-support approach to earning money from the show instead of acce...
Nov 11, 2014•1 hr 57 min
