Chris and Dominic break down 30 personal finance rules, covering budgeting, saving, investing, and more. Learn about the 10% savings rule, the 4% rule, the rule of 72, and how to personalize these guidelines to fit your unique financial situation. Tune in for insights on credit utilization, retirement planning, and crafting a financial plan that works for you. 🔔 Subscribe for More Content: 📌 Connect With Us: The Fi Guys Website ...
Sep 09, 2024•1 hr 21 min
In this conversation, Chris and Dom recap 'Make Time: How to Focus on What Matters Every Day' and share tactics for prioritizing important tasks. They discuss choosing a daily highlight, laser focusing, and eliminating distractions like social media. Chris also shares his journey from a corporate job to a more fulfilling life. Key takeaways include the power of saying no, setting boundaries, and continuously improving productivity. They also answer a viewer's question about paying off a car loan...
Sep 06, 2024•1 hr 9 min
In this podcast, Chris and Dominic dive into the book Make Time and share strategies for focusing on what matters most each day. They discuss the importance of identifying a daily highlight, avoiding time-wasting activities like the busy bandwagon and infinity pools, and designing your environment to minimize distractions. The conversation also covers energizing through healthy habits and reflecting on your day to boost productivity and happiness. Tune in for actionable tips on living a more int...
Sep 02, 2024•58 min
In this conversation, Chris and Dominic recap their previous episodes on cognitive biases and discuss the importance of understanding these biases to avoid being manipulated. They cover biases such as contrast misreaction tendency, social proof, stress influence tendency, and use it or lose it tendency. They also touch on the power of comparison, the impact of adrenaline on decision-making, and the importance of repetition in learning. The conversation takes some humorous tangents, including dis...
Aug 30, 2024•56 min
Join Dominic and Chris Monzon in this part 2 as they continue to explore cognitive biases and their impact on decision-making. From loss aversion to social proof and more, they discuss how biases shape our choices in investing and everyday decisions. They also examine how stress and adrenaline affect decision-making, urging listeners to question their thinking and avoid common cognitive traps. Tune in for practical insights into improving decision-making by understanding these powerful psycholog...
Aug 26, 2024•1 hr 24 min
In this conversation, Chris and Dominic discuss various psychological biases and tendencies that can impact our financial decisions. They highlight the importance of being aware of these biases and offer insights on how to overcome them. The main themes covered include reward and punishment bias, envy and jealousy bias, inconsistency bias, excess self-regard bias, and the importance of knowing oneself and setting meaningful goals. Additionally, they discuss the importance of self-perception and ...
Aug 23, 2024•1 hr 3 min
The FI Guys discuss various cognitive biases and how they impact our decision-making. They share examples of biases such as reward and punishment tendencies, liking versus loving tendency, disliking and hating tendency, doubt and avoidance tendencies, inconsistency and avoidance tendencies, curiosity tendency, Kantian fairness tendency, and envy and jealousy tendencies. They explain how these biases can influence our behavior and provide insights on how to navigate them. In this conversation, Th...
Aug 19, 2024•1 hr 2 min
In this conversation, Chris and Dominic recap their podcast episode with guest Paul DeLowery. They discuss the importance of passing down knowledge and lessons to future generations, the power of creating a family legacy, and the impact of personal experiences on one's mindset. They also share a story about an Uber driver from Iraq who overcame adversity and is working hard to improve his life. The conversation emphasizes the importance of taking ownership of one's circumstances and striving for...
Aug 16, 2024•1 hr 1 min
In this episode, Chris Monzon interviews attorney Paul Deloughery, author of the books Probate Made Simple and Lasting Wealth. They discuss the importance of creating generational wealth and the emotional journey that led Paul to write his book. Paul shares his personal background, including the discovery that his biological father was not who he thought, and the impact it had on his life. They also discuss the importance of family legacy and how sharing family stories can help future generation...
Aug 12, 2024•52 min
In this Podcast, Chris and Dominic discuss house hacking, subject-to-investing, and creative financing as alternative methods to get into the housing market. House hacking involves purchasing a larger property than needed and renting out additional rooms or units to subsidize the mortgage. Subject-to-investing is when the buyer takes over the existing mortgage of a property while keeping the original owner's name in place. Creative financing is a non-traditional financing method where the seller...
Aug 09, 2024•57 min
In this conversation, Dominic and Chris discuss the topics of house hacking, subject to investing, and creative financing in real estate. House hacking involves purchasing a property larger than needed and renting out the extra space to offset costs. Subject to investing is a method where the buyer takes over the existing mortgage of a property while keeping the original owner's name. Creative financing refers to finding alternative ways to finance a property purchase. The conversation highlight...
Aug 05, 2024•54 min
In this podcast episode, Dominic and Chris discuss their recent conversation with guest John Grace. They touch on various topics including the importance of working with a financial advisor, the lack of financial literacy among Americans, and the challenges millennials face in the housing market. They also mention the upcoming episode on real estate and recommend two books by Morgan Housel for those interested in improving their financial knowledge. In this segment, the hosts read an email from ...
Aug 02, 2024•55 min
Join Chris Monzon in a conversation with John Grace, a financial advisor, as they explore critical thinking in finance, the role of advisors in achieving financial independence, and industry challenges. They discuss the 4% rule for retirement, managing investment losses, and the benefits of active management and diversification. John shares insights on the housing market, advising on when to buy or sell based on financial goals and market trends. Discover strategies for enhancing long-term retur...
Jul 29, 2024•1 hr 23 min
In this episode of Fi Friday Feedback, Dominic and Chris discuss the Ten Commandments of Business Failure by Don Keough. They highlight the importance of not isolating oneself and the need for diverse perspectives. They also discuss the dangers of putting too much faith in experts and the value of critical thinking. They touch on the fear of the future and the balance between scarcity and abundance mindsets. The episode concludes with a viewer mailbag segment. In this, the viewer shares his stru...
Jul 26, 2024•50 min
In this video, Chris Monzon and Dominic discuss the 10 commandments of business failure based on Don Keough's book. They cover topics such as taking risks, being flexible, not isolating oneself, avoiding infallibility, playing by the rules, and the importance of thoughtful decision-making. The 10 Commandments of Business Failure provides valuable insights into the common mistakes that lead to business failure. These commandments can also be applied to life and investing. The key themes include t...
Jul 22, 2024•59 min
In this conversation, Dominic and Chris discuss the importance of making sound financial decisions and avoiding lifestyle inflation. They reflect on their own experiences growing up and witnessing others make poor financial choices. They also share insights from their mentoring call with a young man who is about to enter the military and is seeking guidance on financial independence. The conversation emphasizes the need to focus on one source of income, make wise financial decisions, and have a ...
Jul 19, 2024•1 hr 16 min
Join Chris as he coaches Dylan on his journey from plumbing to a military career. Dylan shares how his passion for fitness led him to personal finance, emphasizing patience, dedication, and saving money. They discuss controlling impulse spending, long-term financial goals, and the rent vs. buy dilemma. Chris highlights the importance of budgeting before investing and explores house hacking and homeownership responsibilities. They also discuss the financial benefits of military service, including...
Jul 15, 2024•1 hr 25 min
In this episode, Dominic and Chris discuss the mid-year financial checklist. They cover topics such as reviewing spending, assessing income, organizing financial documents, evaluating emergency funds, managing debt, optimizing subscriptions, consolidating accounts, automating bill pay, checking credit health, and reviewing insurance coverage. In this conversation, Chris and Dominic discuss tax planning and the importance of regularly checking and adjusting your tax withholding. They also emphasi...
Jul 12, 2024•55 min
In this conversation, Chris Monzon and Dominic discuss a mid-year financial check-up, emphasizing the importance of reviewing spending and income to set goals and make adjustments. They stress prioritizing spending based on personal values to avoid overspending or underspending. The discussion covers the dangers of debt, the value of financial planning, and the need for a strong sense of purpose. They recommend inspiration, advocate consistency over quick fixes, and highlight the basics of perso...
Jul 08, 2024•1 hr 8 min
In this conversation, Chris Monzon and Dominic discuss the five rules of trust in estate planning. They cover topics such as the benefits of a trust over a will, the importance of updating your estate plan regularly, and the significance of choosing the right executor or trustee. They also touch on the tax implications of transferring assets within a trust and the role of a trust in minimizing taxes. Overall, the conversation provides valuable insights into estate planning and the considerations...
Jul 05, 2024•1 hr 2 min
In this conversation, Chris and Dominic discuss trust, wills, and estate planning. They clarify the differences between a trust and a will, with a trust being more powerful and legally binding. They explain that a trust is a legal document that governs the transfer of assets after death, while a will is a hope or desire for how assets will be distributed. They also discuss the importance of having an executor and the role they play in carrying out the wishes outlined in the trust. They touch on ...
Jul 01, 2024•1 hr 10 min
In this conversation, Chris and Dominic recap Monday's episode on LLC write-offs and discuss the top write-offs that people should take in 2024. They cover topics such as tax credits vs tax deductions, startup and organizational costs, vehicle expenses, marketing and advertising deductions, and home office deductions. They emphasize the importance of diligent record-keeping and caution against extravagant or unrelated expenses. The conversation provides valuable insights for business owners and ...
Jun 28, 2024•51 min
In this conversation, Chris Monzon and Dominic discuss the top LLC tax write-offs for 2024. They cover topics such as startup and organizational costs, vehicle expenses, marketing, and advertising expenses, home office deductions, and travel expenses. They emphasize the importance of documentation and working with a qualified CPA to maximize tax deductions. They also caution against extravagant or unrelated expenses that may not be considered ordinary or necessary for the business. In this conve...
Jun 24, 2024•51 min
In this conversation, Chris and Dominic discuss the topic of medical debt and provide five tips to help listeners navigate and manage their medical bills. The tips include reviewing medical bills before making payments, asking for help as soon as possible, negotiating with hospitals and insurance companies, avoiding putting medical debt on credit cards, and prioritizing debts. They emphasize the importance of being proactive and advocating for oneself when dealing with medical debt. The conversa...
Jun 21, 2024•57 min
In this conversation, Chris and Dominic discuss the scope of the American healthcare problem, how health insurance works, and the dos and don'ts of medical debt. They highlight the high cost of medical insurance and the for-profit nature of the healthcare system. They also explore the burden of medical debt in the United States, with billions of dollars owed and crowdfunding campaigns for medical debt becoming common. The conversation emphasizes the importance of understanding insurance policies...
Jun 17, 2024•58 min
This conversation covers a detailed review of the nine-step financial order of operations. The FI Guys discuss their favorite steps, the uniqueness of individual financial situations, and the importance of addressing high-interest debt. They also explore the impact of mindset on financial decisions, the significance of emergency reserves, and the considerations for Roth and HSA accounts. The conversation covers a detailed discussion on annuities, investment strategies, and financial planning. It...
Jun 14, 2024•1 hr 23 min
This podcast's conversation revolves around the creation of a nine-step financial plan for achieving financial freedom. Chris and Dom discuss the importance of each step, including deductibles, employer matches, high-interest debt, emergency funds, and retirement accounts. The conversation covers the nine steps of the financial order of operations, including covering deductibles, getting employer matches, paying off high-interest debt, building emergency reserves, maximizing Roth IRAs and HSAs, ...
Jun 10, 2024•47 min
This podcast's conversation revolves around the topic of procrastination and how it relates to money and life. The hosts discuss the book 'Procrastinate on Purpose' and the importance of prioritizing tasks. They explore different types of procrastination and the role of fear in avoiding tasks. They emphasize the need to understand one's why and to overcome roadblocks in order to take control of finances. The conversation also touches on the importance of mindset and seeking help when needed. A c...
Jun 07, 2024•58 min
In this episode, Chris and Dom discuss the principles of Procrastination on Purpose and how they can be applied to personal finance. They explore the reasons why people procrastinate and the different types of procrastination. They emphasize the importance of prioritizing tasks and focusing on the most important ones first. They also discuss the concept of multiplying time by eliminating, automating, and delegating tasks. The episode provides practical tips and strategies for managing finances m...
Jun 03, 2024•55 min
In this conversation, Dominic and Chris discuss various money secrets and the importance of avoiding lifestyle creep. They emphasize the need to prioritize relationships and experiences over material possessions. They also touch on the influence of social media on our perception of success and happiness. The conversation highlights the importance of finding a balance between saving and enjoying life. These themes include how one's upbringing influences their money decisions, the ability to recov...
May 31, 2024•54 min
