Episodes
Annie Duke is a world champion poker player and author of Thinking in Bets, a book which makes the case for embracing uncertainty in our decision-making framework. In Annie's latest book, How to Decide: Simple Tools for Making Better Choices, she answers the question, what does a good decision-making process look like and how to incorporate that into your own life. The only way we can become better at making decisions is from our own experience, and our experience is going to be the outcomes...
Published 10/19/20
After 18 years of ownership, Brad says goodbye to his beloved Honda Civic, Golden Boy. When it comes to car ownership, ChooseFI often talks about only buying a new car every 15 years. Over a 45 year adult lifetime, the savings, when invested, can amount to almost $750,000 when compared to someone who leases or just manages a constant car payment. Although Brad wanted to keep the car, it had been having some mechanical issues and his family was no longer comfortable riding in it anymore. The...
Published 10/16/20
Immigrating to the United States as a child, by early adulthood, Jully found herself caught up in our consumer culture and had acquired five figures worth of debt. After working to dig her way out and starting on her path to finical independence, she's become an advocate. Drawing from her experience, she now help Latinas become financial powerful through investing. At the age of four, Jully moved from the Dominican Republic to New York. Her extended family all began making the move as well,...
Published 10/12/20
In our eighth Households of FI touchpoint episodes, Kristi was successfully following the standard path with a six-figure job and keeping up with the Joneses but waiting to take a breath and enjoy life. After finding FI, she realized the money was no longer the goal but simply a tool. Kristi has been connected with Big ERN, from Early Retirement Now, and over several conversations, they discuss Employee Stock Purchase Plans, 401K contribution strategies, the phase of retirement, and more....
Published 10/09/20
Brad has been taking part in a mastermind group and teaching its members about financial independence. While they understood the “Why of FI”, how to get started wasn't as clear. The Back to Basics series of episodes covers just that, how to get started on the path to FI. The journey to financial independence is not about deprivation. It is about a life of personal choice and abundance. Its starts with understanding your “why” and then setting goals for the next 5, 10, or 15 years. There's a...
Published 10/05/20
In this ChooseFI Back to Basics episode, we review Health Savings Accounts (HSA). What happens when you need to finally pull money out after funding it year after year? ChooseFI Chief Content Officer, MK, is just weeks away from having her baby. For years, she and her husband, Jason, have been funding separate HSA accounts without making any withdrawals. They now contribute to a family plan HSA and decided it was a good time to test out how complicated the process was to withdraw HSA funds....
Published 10/02/20
How can you recognize the value in the secondhand market, begin optimizing a strategy, and turn it into income? Today's guests, Rob and Melissa Stephenson, the Flea Market Flippers, have built a six-figure business flipping the bargains they find. Rob spent weekends as a child with his parents visiting yard sales. They bought items and then listed them for sale to a bigger market using the newspaper classified section. Rob followed in their footsteps, flipping items as another side job...
Published 09/28/20
Picking back up with the Household of FI series, Vivian is a single mom who found FI in the last year, but initially, it seemed impossible. It wasn't until she was introduced to the ChooseFI podcast and saw real people reaching financial independence that she believed she could do it too. Vivian has been dealing with a number of challenges: a cancer diagnosis, a child custody battle, and caring for parents who have no savings of their own. As a pharmacist, she earns a significant income....
Published 09/25/20
Building a business online has never been easier than right now, but Corbett Barr was forging his path in the early 2000s when it was hard. We're diving into his origin story to learn what gave him motivation and why he believed entrepreneurship was for him. Working as a consultant in Fortune 500 companies, Corbett had the kind of job a lot of people really wanted and could build a career around. Though he wasn't aware of financial independence at the time, he didn't want to climb the ladder...
Published 09/21/20
Going back to the basics of ChooseFI being a crowdsourced show, Brad and Jonathan address what's going on in the FI community with a wild card Friday episode. Why revisit content that's already been discussed? After several years of introducing new ideas, the ChooseFI audience may be in a different place financially and ready for a refresher on some of the more advanced concepts presented earlier in the show's history. And newer listeners may not have combed through the archives and missed...
Published 09/18/20
Everyone's path to FI is going to look a little bit different and there is so much we can learn from each other. Hoping to inspire and share lessons learned through conversations with community members, Brad and Jonathan speak with Julia Harder, an active duty member of the Coast Guard, is already well on her path to FI. Always a natural saver, Julia was influenced by her dad, who stressed the importance of investing, and Dave Ramsey's teachings that debt is bad. She was on a good financial...
Published 09/14/20
Martin and Ayesha are both natural savers who have been great about living below their means but lacked a real plan. Their goals are to maximize investments for retirement and finding ways to utilize dividend funds. After stumbling across the ChooseFI podcast, they felt like their financial independence number and retirement seemed obtainable which has helped push them to commit and make even bigger changes. While Martin and Ayesha had a 20-25% savings rate before finding FI, Brad commended...
Published 09/11/20
Once you realize financial independence is possible for you, how do you ensure the money lessons you've learned are consistently passed down to future generations? Anne Zonca's family is well ahead of their time when it comes to financial independence. When many are focused on second-generation FI, Anne herself is third generation FI working to pass along her family's lessons to her own children. Children of the Great Depression, Anne's grandparents were deeply effected by having lived...
Published 09/07/20
Brad is back after taking August off of work as his Red X month. Though his original vacation plans were changed because of COVID, he made the best of it. They spent three weeks in Long Island visiting family, enjoying the pool, board games, and a digital detox. While Brad was away relaxing, Jonathan used that time to work on a couple of big passion projects. During the month of August, Jonathan created a podcast course and membership group. He also started a new podcast as a way to...
Published 09/04/20
What does it look like when you are invested in building wealth, environmentalism, and sustainability? How do you combine raising your net worth while optimizing these other areas of your life? You build a holistic approach to the different types of capital. Laura learned about the different forms of capital through her experiences with permaculture, which is a design science that looks to nature as an example of a closed-loop, no waste system. Her introduction to permaculture through her...
Published 08/31/20
Continuing the financial independence case study series, Households of FI family, Zach and Marilyn are a married couple with young kids. Using Dave Ramsey's baby steps, they no longer have any debt but have wondered what to do next. Looking to explore investing in real estate, ChooseFI connected them with real estate expert, Paula Pant. Though Zach and Marilyn once lived below the poverty line, they managed to pay off their debt, including student loans, a car loan, credit cards, and medical...
Published 08/28/20
To watch the video highlights, click on ChooseFI.com/246 What happens when someone is using your finances to prevent you from making decisions that are in your own best interest? What does financial abuse look like and can you reclaim your financial life? Rachael shares her story and how she's become passionate about economic empowerment. Although she had a successful career and what appeared to be a healthy relationship from the outside, Rachael found herself in a relationship with someone...
Published 08/24/20
To watch the video highlights, click on ChooseFI.com/245 Matt and Megan are a dual military family on the path to FI. Matt is serving in the UK Royal Navy and Megan is serving in the US Navy, their tax situation is unique. Currently, they plan on having Matt get a green card, allowing him to work in the US, while Megan finishes out her Navy career to earn a pension and then move abroad in about seven years. Once Matt gets his green card, he will be taxed like any other US citizen. He owns...
Published 08/21/20
To watch the video highlights, click on ChooseFI.com/244 WHAT YOU'LL GET OUT OF TODAY'S SHOW Who do young people look up to today? The lifestyles marketed on MTV and social media not exactly something to aspire to, but where can the next generation go to find something different? Inspired by the work of her father, Don Wettrick, and feeling like she needed to take charge of the issue, Ava Wettrick created MentorZ, a platform designed to introduce great people to Generation Z. As a young...
Published 08/17/20
To watch the video highlights, click on ChooseFI.com/243 WHAT YOU'LL GET OUT OF TODAY'S SHOW Progress Coach, Jillian Johnsrud, meets with Households of FI member, Corinne, to review the two exercises designed to help her understand how she can prioritize her life to focus on the things that matter the most. After taking a quiz to reveal which of the Four Tendencies she is, Corinne discovered that she is an Upholder. She has many things that she would like to do but struggles with feeling...
Published 08/14/20
To watch the video highlights click on ChooseFI.com/242 WHAT YOU'LL GET OUT OF TODAY'S SHOW For those on the path to financial independence, finance, fitness, and life optimization all intersect. During her career in the banking industry, Shannon McLay found it didn't work for the people she wanted to help. She set out to use her skill set and training to change the coaching industry and founded Financial Gym. Even for those who not physically fit, they know what it looks like and there are...
Published 08/10/20
WHAT YOU'LL GET OUT OF TODAY'S SHOW The Ingrams are new on their journey, finding FI several months ago after making a budget and realizing they had no money left over at the end of the month. Compared to other systematic approaches to becoming debt-free, they felt FI was creative and adaptable to a variety of lifestyles. The first step Troy and Lindsey took was to determine where all their money was going using a budget tracker, which enabled them to cut monthly expenses and continue to do...
Published 08/07/20
Tiffany "The Budgetnista" Aliche shares her incredible story of financial education from a young, steep descent into debt, and how she turned it back around while helping hundreds of thousands of people in the process.   Additional Resources: https://www.stamps.com/ - Promo Code: CHOOSEFI https://www.choosefi.com/1000 - For info on $1000 of free cashback money.   For more information, visit the show notes at https://ChooseFI.com/240
Published 08/03/20
Future proofing your career and an uncertain economy on today's show. Google weighs in on skills versus degrees. Brad shares with us how he is helping people future-proof their career by changing careers and the options that are available. Chris shares the massive action he's taken with the community and Brad, well, he gets it done and he's going to go behind the scenes and share how he's using one of his favorite tools, to-doist. This is your Friday roundup For more information, visit the...
Published 07/31/20
Gerry Born, the Millionaire Educator, joins the show to talk about strategizing college via online classes, dual enrollment, and CLEP Testing.  For more information, visit the show notes at https://ChooseFI.com/238
Published 07/27/20