ChooseFI

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 include traditional IRAs and Health Savings Accounts (HSAs), while noting contribution limits. 00:03:43, 00:04:12.Company Matches in Retirement Accounts: Highlighted as a crucial opportunity to maximize savings 00:09:12.Backdoor Roth IRA: A legal way for high earners to sidestep income limits for Roth IRA contributions 00:15:09.Asset Allocation: Discussion on the complexities of asset allocation, particularly as one approaches retirement, and the impact of sequence of returns risk 00:24:07.Real Estate Investing: Key considerations and the risks associated with real estate investments 00:56:01. Questions: What can I do if my employer doesn’t offer a 401k? Consider options like a traditional IRA or a health savings account. 00:04:12 How do I manage sequence of returns risk in retirement? It's crucial to have a cash reserve and bonds as a cushion against market downturns. 00:26:36 What should I consider when investing in real estate? Understand cash flow, assess the market, and account for all potential expenses and vacancies to avoid risks. 00:58:08   Actionable Takeaways: Review and potentially set up a traditional IRA if your employer doesn't offer a 401k. 00:04:12Consider maintaining a cash buffer for the first few years of retirement to mitigate risks. 00:26:36Maximize your retirement account contributions to include any employer matches. 00:09:12 "Avoid reverse dollar cost averaging by holding onto equities during market downturns." 00:39:28"Company matches in retirement accounts offer unmatched returns—don’t miss out!" 00:09:12"Explore diverse account types for effective financial management." 00:10:00     **Disclaimer Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.

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 shares his early struggles with debt and the turning point that launched his journey. Overcoming Debt and Personal Challenges Justin candidly discusses his past, including addiction and the shame spiral from unresolved financial issues. He emphasizes that confronting these struggles was key to his transformation. "Depression can serve as a reset for your psyche."  The Role of Coaches in Growth The impact of hiring coaches for guidance in both fitness and financial success. Tracking as a Tool for Success Justin emphasizes the importance of tracking both financial metrics (expenses, savings rate) and fitness metrics (nutrition, workouts).Key Quote: "What gets measured gets managed." 00:48:40"Boost your savings rate to build wealth faster." 00:32:49 Principles for Continuous Growth Justin shares three core principles: You are the average of the five to ten people you spend the most time with.You are a product of your environment.You are what you consume. Action Item: Evaluate your current environment and the people you are spending your time with.  Additional Resources Fit Rich Life Coaching: fitrichlifecoaching.comSavings Rate Tracker: fitrichlifecoaching.com/trackerWorkout Program: fitrichlifecoaching.com/workout Tim Ferris Article on Mr Money Mustache The Shockingly Simple Math of Early Retirement Social Media Follow Justin on Instagram: @JustinDavidCarl "It's never too late for a second chance." 00:18:03"Your consumption shapes who you are." 00:56:02 Discussion Questions How can tracking financial habits influence our spending? 00:32:33What strategies can we implement from a growth mindset perspective? 00:20:38

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 life and making prudent financial decisions, ultimately aligning with their core values.    Key Takeaways: Intentional Savings: Be proactive in saving and planning for financial independence. 00:03:37 Tracking Net Worth: Regularly evaluate your financial progress.00:10:02 Community Support: Rely on your community during tough times. 00:29:16 Flexibility in Planning: Adapt financial strategies as life changes occur. 00:36:02 Maintain a Positive Mindset: Approach challenges with optimism and agency. 00:42:08 Actionable Takeaways: Implement regular financial meetings with your partner to track and discuss financial health. Consider unexpected medical costs when planning for financial independence. Maintain a positive and adaptable mindset when facing life challenges. Action Items: Start tracking your net worth regularly to understand your financial progress. Set aside time for financial discussions with your partner every few months. Plan for unforeseen medical costs in your financial independence calculations. Related Resources: The Simple Path to Wealth FaithFi (formerly CompassOne)  Discussion Questions: What aspects of financial planning do you think are most important? How can community support impact your personal finance journey? What strategies can you adopt to maintain a positive mindset during challenges? How can tracking net worth change your financial perspective?

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 experiences, including joy from low-cost activities and being present in relationships. Key Topics Discussed Connection Through FI 00:02:20 The importance of community in financial independence events.Shared experiences and personal growth discussions among participants. The Power of Vulnerability 00:06:00 Opening up in conversations to foster deeper connections.Embracing quirks and eccentricities to enhance relationships. Simplicity and Enjoyment 00:10:30 Finding joy in low-cost activities, such as playing pickleball.The realization that enjoyment doesn’t require significant spending. FI and Choose Philosophy 00:46:00 The idea that achieving financial independence offers choices about how to live life.Aligning personal ambitions with the simplicity of life. Actionable Takeaways Explore Joyful Activities: Engage in activities that bring joy without high costs 00:10:30.Build Deeper Relationships: Foster relationships through open and vulnerable conversations 00:06:00. Related Resources The Growth Guide Podcast: thegrowthguide.com

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 strategies can you use to reduce your tax burden during retirement?How can understanding capital gains impact your long-term financial decisions?What role does income management play in health insurance planning for early retirement?   Chapter Markers: [00:00:00] Introduction to Capital Gains Harvesting[00:01:38] Understanding Income Tax and Capital Gains[00:05:22] Tax Rate Comparisons: Ordinary vs. Capital Gains[00:20:07] Real-Life Case Studies[00:49:34] Key Takeaways and Best Practices Key Takeaways: Understand your capital gains tax rates to optimize when to sell investments.Use capital gains harvesting to realize profits without tax penalties.Plan retirement income carefully to maintain eligibility for health insurance subsidies. Links & Resources: Measure Twice MoneyMeasure Twice Money YouTube Channel

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.comTwitter: @DeanTTraining 🔑 Key Themes Discussed: The importance of building muscle for health, longevity, and independence in later lifeOvercoming age-related muscle loss (sarcopenia) through resistance trainingSimplifying muscle-building techniques for beginners and experienced individualsThe role of proper form, progressive overload, and consistency in muscle growthCommon misconceptions about muscle growth and the science behind itCustomizing workout routines based on individual schedules and goalsThe importance of recovery, rest, and nutrition in maximizing gainsPractical advice on workout programming and exercise selection 🕒 Chapters: 00:00 – Introduction: The Importance of Muscle Building02:00 – Age-Related Muscle Loss and Why Muscle Matters06:00 – Customizing Workouts: 3-Day vs. 5-Day Programs09:00 – Exercise Selection: Upper/Lower Body, Push/Pull13:00 – How Muscle Growth Actually Works: The Science Explained18:00 – Importance of Progressive Overload and Rep Ranges22:00 – Common Workout Mistakes and How to Avoid Them27:00 – Listener Questions: Setting Goals for Muscle Growth33:00 – Understanding Rest Times and Recovery40:00 – Importance of Nutrition: Protein and Macronutrients45:00 – Creating a Sustainable Workout Routine51:00 – Final Tips: Staying Consistent and Tracking Progress 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480“The Simple Path to Wealth: Your road map to financial independence and a rich, free life” by J.L. CollinsHevySubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

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 attacks. Making sure you’re having open conversations about this topic with your friends, and especially your older family members is crucial and can make sure you avoid falling for these scams!  🔑 Key Themes Discussed: The rise of social engineering scams and how they manipulate victims“Pig Butchering” scams: how scammers build trust, then steal your moneyHow cryptocurrency is used in scams and the risks involvedRecognizing investment scams and protecting yourself from fraudThe emotional and psychological tactics scammers use to isolate victimsThe role of AI and fake profiles in advanced scamsActionable steps to avoid becoming a victimThe importance of spreading awareness to protect your family and friendsReporting scams and what to do if you’ve been a victim 🕒 Chapters: 00:00 – Introduction and Overview of Cybersecurity Threats02:00 – What is Pig Butchering and How it Works04:00 – Investment Scams and Social Engineering Explained06:00 – How Scammers Build Relationships and Gain Trust08:00 – Examples of Scams: Dating Apps, Fake Profiles, and Social Media12:00 – Cryptocurrency in Scams: What to Watch Out For16:00 – The Role of AI and Deepfakes in Cyber Scams18:00 – Personal Stories: Victims Who Lost Everything22:00 – Action Steps: How to Protect Yourself and Loved Ones27:00 – How to Report Scams and Recover Funds29:00 – Recognizing Scams in Everyday Life: Red Flags and Signals34:00 – Final Thoughts and Preventative Tips 🔗 Mentioned Links and Resources: Securing Your Financial Life | ChooseFI Ep 397Internet Crime Complaint Center (IC3) More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

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 make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!  Jeremy Schneider: Website: personalfinanceclub.comInstagram: @personalfinanceclub 🔑 Key Themes Discussed: The pitfalls of overcomplicating personal finance and investment strategiesThe power of simplicity in financial management and investingMistakes made in early investing: complex ETFs vs. simple index fundsJeremy’s journey from selling his company to managing a $2M windfallThe surprising truth about target date funds and why simplicity often winsThe concept of “the more I tinker, the worse it gets” in investment strategiesPersonal finance habits that persist from childhood and their impact on adult financial decisionsDividends vs. reinvesting: pros, cons, and psychological aspectsUnderstanding the differences between fiduciary financial advisors and those incentivized to sell productsWhy financial simplicity and automation can lead to better outcomes 🕒 Chapters: 00:00 – Introduction to Jeremy Schneider02:00 – Simplicity vs. Complexity in Financial Decisions03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes06:00 – Complex ETFs vs. Target Date Funds08:00 – How Tinkering Can Lead to Worse Financial Outcomes12:00 – Personal Finance Habits from Childhood14:00 – Dividend Reinvestment: To Reinvest or Not?18:00 – Simplifying Financial Life: Automating Investments22:00 – The Dangers of Chasing Dividends26:00 – Real-Life Examples of Bad Financial Advice33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence 🔗 Mentioned Links and Resources: The 7 Sins of InvestingNectarineSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

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, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: The benefits of getting started early with financial independence (FI)Evaluating the 4% rule and how to live off investments in retirementUnderstanding the difference between Roth vs. Traditional retirement accountsTax strategies for early retirement and avoiding penaltiesHouse hacking as a way to reduce housing costs and boost savingsReal estate as an investment: risks, rewards, and misconceptionsMaximizing income while keeping expenses low for young professionalsSafe withdrawal rates, dividends, and managing investments post-retirementThe psychological aspects of early retirement and maintaining financial health 🕒 Chapters: 00:00 – Introduction to Mailbag with Rachael01:00 – Starting Early with FI: Gabby’s Journey03:00 – Roth vs. Traditional Retirement Accounts for Young Investors06:00 – House Hacking and Real Estate Strategies09:00 – How the 4% Rule Works for Early Retirement12:00 – Income Maximization for Young Professionals18:00 – Managing Dividends and Withdrawal Strategies in FI24:00 – Safe Withdrawal Rates and Creating Your Own Dividend31:00 – Listener Questions: Roth IRA Conversion Ladder36:00 – Tax Strategies and Avoiding Penalties in Early Retirement43:00 – Rethinking Real Estate and House Hacking Risks51:00 – Wrap-Up and Final Thoughts on Financial Independence 🔗 Mentioned Links and Resources: Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp | ChooseFI Ep 505Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp | ChooseFI Ep 496How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475Drawdown Strategies: Karsten vs. Fritz | ChooseFI Ep 427House Hacking With Coach Carson | ChooseFI Ep 16Scott Trench | Set For Life | ChooseFI Ep 63Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community. This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn’t mean you should wait until you reach your goal to actually start making the moves to get there! Whether you’re near the finish line or just beginning, don’t wait to explore other possibilities that can elevate not only your FI journey but your life.  🔑 Key Themes Discussed: The emotional journey of downsizing and letting go of possessionsAchieving CoastFI and the realization of financial independenceThe significance of mini-retirements and experimenting with lifestyle choicesPersonal growth and redefining goals in mid-lifeThe psychological effects of decision-making in early retirementCreating space for joy and gratitude in life transitionsOvercoming attachment to material possessions and past dreamsBuilding community after major life transitions, such as moving and career changes 🕒 Chapters: 00:00 – Introduction: Ginger and Anne’s Journey01:00 – Anne’s Recent Move and Downsizing03:00 – Discovering Financial Independence Through the FI Formula07:00 – Defining CoastFI and the Big Epiphany Moment10:00 – Reflecting on Personal Goals and Letting Go of Past Dreams13:00 – Experimenting with Mini-Retirements: Learning from the FI Community16:00 – Downsizing: The Emotional Process of Letting Go22:00 – Influence of Family Illness and Death on the FI Journey27:00 – The Challenge of Winter Depression and Its Role in Change31:00 – Selling the Family Home: Closure and Moving Forward36:00 – Gratitude and the Practice of Being Present40:00 – Taking the Leap: Early Retirement and What Comes Next46:00 – Finding Community and Building a New Life After Moving51:00 – The Courage to Try New Things and Embrace Discomfort55:00 – Final Reflections on Joy, Curiosity, and Living Without Regret 🔗 Mentioned Links and Resources: Contact Anne:  anne.andrew907@gmail.com“Disrupt Yourself, With a New Introduction: Master Relentless Change and Speed Up Your Learning Curve” by Whitney Johnson“The Artist’s Way: 30th Anniversary Edition” by Julia CameronRetire Often PodcastFamous Failures“Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life” by Ovan VarolSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate. This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we’ve taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you’ll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week’s episode. 🔑 Key Themes Discussed: Financial Independence (FI) journey and making big life transitionsThe importance of experiencing challenging tasks to build resilience (“doing hard things”)Insights on taxes in retirement: why you may pay less than expectedTravel hacks: optimizing family cruises and travel rewards pointsThe psychological approach to financial success: The Gap and The Gain conceptPersonal health and wellness: Brad’s journey with hiking, saunas, and cold plungesCommunity wins: listener success stories on saving, investing, and achieving FIHealth insurance strategies for early retireesReal estate strategies and long-term capital gains tax advantagesAddressing common FI misconceptions and how to optimize your finances 🕒 Chapters: 00:00 – Introduction and Recent Trips01:30 – Travel Rewards and Cruise Optimization06:00 – Family Vacations and Cruise Hacks08:30 – Colorado Trip and Doing Hard Things10:00 – Hiking Challenges: Lessons from FI and Fitness17:00 – Financial Independence Journey: Overcoming Obstacles21:00 – The Gap and The Gain: Mental Shifts for Success27:00 – Understanding Taxes in Retirement35:00 – Health Insurance and Early Retirement Strategies40:00 – Capital Gains Tax and Real Estate in FI48:00 – Listener Questions and Real-Life Examples55:00 – Community Wins: Listener Success Stories59:00 – Travel Rewards Victory: Booking Free International Trips Resources Mentioned In Today’s Episode: “The Gap and The Gain: The High Achievers’ Guide to Happiness, Confidence, and Success” by Dan Sullivan and Dr Benjamin HardyThe Shockingly Simple Math Behind Early RetirementBiggerPockets Real Estate Podcast“Set for Life: Dominate Life, Money, and the American Dream” by Scott TrenchSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment. In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you’re a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way! 🔑 Key Themes Discussed: The impact of rising interest rates on real estate markets in 2024The “lock-in effect” and how low-interest mortgages affect housing supplyRent vs. buy decisions in today’s marketThe rise of multifamily and single-family housing supply, especially in regions like AustinHouse hacking in 2024: Is it still viable?The state of commercial real estate and multifamily investmentsHow interest rate trends impact real estate investorsOpportunities for investors in a downturn: Finding deals amidst crisisSyndications: Potential pitfalls, bad actors, and lessons learned for 2024Real estate investment strategies: What to do with your mortgage and how to balance risk 🕒 Chapters: 00:00 – Introduction: Welcoming Scott Trench01:00 – Rising Interest Rates and Market Effects03:00 – Housing Supply and the Lock-in Effect Explained04:30 – Rent vs. Buy: How the Calculus Has Changed09:00 – The Build-to-Rent Industry and Single-Family Rentals12:00 – House Hacking in 2024: Is It Still Worth It?16:00 – Multifamily Housing Supply and Regional Trends17:00 – Commercial Real Estate: What’s Happening Now?20:00 – How Interest Rates Are Crushing Commercial Investors24:00 – Opportunities Amidst a Crisis: Where to Find Deals27:00 – The Real State of Syndications: Risks and Rewards33:00 – Evaluating Syndicators: How to Find Good Deals in 202436:00 – Real Estate Investment Strategies: Notes, Funds, and Lending43:00 – Pay Off Your Mortgage or Invest?50:00 – Long-Term Real Estate Bets and Holding Strategies56:00 – Wrap-Up: Key Takeaways and Final Thoughts 🔗 Mentioned Links and Resources: BiggerPocketsThe BiggerPockets Money PodcastSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: surpriseFI, minimalism, frugality, emotional and psychological aspects of FI, and alternative lifestyles. We often get a lot of great ideas and questions from the FI community, and what better way to answer some as well as inspire than bring in one of our own to discuss their journey! In this special Friday episode, Ginger is joined by member of the FI community, Kim, to discuss how she found herself on her “surpriseFI” journey. Together, the pair talks about balancing frugality and minimalism, the importance of designing the life you want, as well as share some resources and recommendations that helped her on her journey! 🔑 Key Themes Discussed: The journey to achieving Financial Independence (FI) through surprise and discoveryMinimalism, frugality, and living below your means as a path to freedomTransitioning from work life to financial independence and early retirementPersonal reflections on housing, relationships, and travel in post-retirement lifeEmotional and psychological aspects of financial independenceStrategies for aligning personal values with financial decisionsExploring alternative lifestyles: hatchback camping, Peace Corps, and low-cost living 🕒 Chapters: 00:00 – Introduction and How Kim and Ginger Met02:00 – Kim’s Journey to Surprise Financial Independence06:00 – Experimenting with Early Retirement: Leave of Absence Strategy09:00 – Living Frugally: Kim’s Minimal Spending Habits12:00 – Kim’s Unique Housing Situation and Thoughts on Real Estate15:00 – The Role of Minimalism in Achieving Financial Freedom17:00 – Life After Retirement: Adventure, Travel, and Hatchback Living23:00 – Challenges and Opportunities in Dating After FI27:00 – Personal Growth, Goals, and the Desire for Meaningful Projects33:00 – Financial Planning Tools and Resources for FI35:00 – Balancing Frugality and Enjoyment: Traveling on a Budget40:00 – Final Thoughts: Kim’s Recommendations for an Extraordinary Life 🔗 Mentioned Links and Resources: “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robinson, Joe Dominguez, and Mr Money Mustache.Contact Kim:  kimisonfire@fastmail.com“Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert KiyosakiRich, Broke, or Dead? Post Retirement FIRE Calculator Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep. 18Afford Anything with Paula Pant | Vicki Robin: Financial Independence After 70 [GREATEST HITS WEEK]Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: 5% safe withdrawal rate, the three stories, psychology and personal finance, and community. In this insightful episode of the ChooseFI Podcast, Brad chats with Frank Vasquez, a well-known figure in the financial independence community and the voice behind Risk Parity Radio. They delve into Frank’s journey from a career in law to becoming a personal finance expert, and explore topics like the 5% safe withdrawal rate, revealed preferences, and Frank’s three defining life stories. This conversation offers insight on approaching personal finance, investments, and life after achieving financial independence. Frank shares his unique blend of academic rigor, personal curiosity, and his thoughtful approach to living with purpose in the post-FI world. 🔑 Key Themes Discussed: Understanding the 5% Safe Withdrawal Rate (SWR) and its practical application.How revealed preferences shape financial and life decisions.The three stories Frank lives by: the Curious Child, the Starfish Thrower, and the Mexican Fisherman.How narrative psychology impacts our personal finance decisions.Personal experiences in managing life post-financial independence.The intersection of economics, personal finance, and storytelling.Practical insights on podcasting, community engagement, and sharing financial knowledge. 🕒 Chapters: 00:00 – Introduction to Frank Vasquez and Risk Parity Radio.03:00 – Frank’s Journey: From Law to Personal Finance Expert.07:30 – Understanding the 5% Safe Withdrawal Rate.15:00 – The Three Stories Frank Lives By.25:00 – Revealed Preferences: What Do We Really Want?35:00 – Narrative Psychology and Personal Finance Decisions.45:00 – Post-FI Life: Teaching, Relationships, and Purpose.55:00 – Frank’s Thoughts on Podcasting and Community. 🔗 Mentioned Links and Resources: Risk Parity RadioBig Think video on Narrative Psychology with Jane Goodall and Terry Crews“Build the Life You Want: The Art and Science of Getting Happier” by Arthur Brooks and Oprah WinfreyThe Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194Find Your Local ChooseFI Group More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: overcoming fears, the importance of community, community wins, reaching FI goals, and ripple effects. This week Brad is re-joined by Ginger for another installment of the round-up, where we will be discussing topics such as new 529 plans, the importance of making connections within your community, and actionable steps for overcoming anxieties while on your FI journey! Additionally, it wouldn’t be a round-up episode without as well as shouting out some frugal wins from our wonderful community! While these episodes are not only a great way for us to give you personal updates and perspectives, it’s an even better way for us to highlight some of the tips and tricks you’ve picked up on your respective FI journeys!  🔑 Key Themes Discussed: The psychological aspects of financial independence and overcoming fear.Building a fulfilling life by focusing on fulfilling days.Strategies for maximizing benefits from 529 plans.The importance of community and connection in the FI journey.Overcoming anxiety and embracing serendipity in life choices.Practical steps for financial checkups and optimization.Leveraging travel and experiences for personal growth and connection.Exploring frugality and financial prudence in everyday decisions. 🕒 Chapters: Introduction to the Episode with Brad and GingerHighlighting Community Wins and StoriesEmbracing Challenges and Overcoming Fears in Personal GrowthListener Voicemail – Updates on Reaching FI GoalsNew Rules and Tips for 529 PlansFrugal Wins of the WeekBig Financial Moves and Their Ripple EffectsConclusion and Reflections on Building Community and Connection 🔗 Mentioned Links and Resources: Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480 Making FI Fun Again | ChooseFI Ep 502 Subscribe To The FI Weekly More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects. This week we are joined by Kyle Nolan, creator and founder of ProjectionLab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he’s faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it’s important to remember that you don’t have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback!  🔑 Key Themes Discussed: Kyle’s journey from traditional employment to entrepreneurship.The development and impact of ProjectionLab in the FI community.The role of personal passion in creating and growing a side hustle.Overcoming fear and indecision when launching a new venture.The importance of a supportive community in achieving financial independence. 🕒 Chapters: Introduction to Kyle Nolan and ProjectionLabKyle’s background and the start of his FI journeyThe motivation behind creating ProjectionLabThe challenges and rewards of entrepreneurshipThe pivotal moment of launching ProjectionLab on Hacker NewsThe significance of mental headspace in pursuing side projectsBrad’s reflections on proof of concept and personal finance journeyHow to encourage children to explore their passions in technology 🔗 Mentioned Links and Resources:   ProjectionLab (Use Code "CHOOSEFI" for 10% off!)Richmond SaversSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: debt and investing, the 4% rule, Roth 401k and traditional 401k, and total return investing. This week we are back with a listener Mail Bag featuring returning guest Rachael Camp! Together, we will be answering questions and giving our feedback on nuanced topics asked by the community! Listen along for discussions about the 4 percent rule, how taxes are factored into your FI number, investing in dividends, paying down debt versus investing, and finally a shortlist of actionable steps one could take if they are young and beginning their FI journey. There is much to discuss and so much more to learn this week as we tackle your FI questions!  Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: Introduction to Financial IndependenceDebt vs. InvestingThe 4% Rule and TaxesRoth 401k vs. Traditional 401kDividends vs. Total Return InvestingSecond Generation FI 🕒 Chapters: Getting Started with FIDebt vs. Investing4% Rule and Tax ImplicationsRoth 401k vs. Traditional 401kDividends vs. Total Return InvestingSecond Generation FI 🔗 Mentioned Links and Resources: Find Your Local ChooseFI Facebook GroupPreparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460How To Test Out of College While You’re Still In High School | Millionaire Educator | ChooseFI Ep 238How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

This week on ChooseFI, Brad welcomes Devon, a 22-year-old National Guard member and aspiring mechanical engineer, to discuss the power of intentionality and personal finance! Together, Brad and Devon explore how small, deliberate actions can create a domino effect in shaping one's financial future. Devon shares his journey from joining the National Guard at 17 to discovering financial independence through ChooseFI, and how his disciplined approach to life has led him to save for his first home, maximize military benefits, and even inspire his peers. 🔑 Key Topics Discussed: The Domino Effect: How Small Actions Lead to Big ChangesFinancial Independence: Starting Young and Staying DisciplinedMaximizing Military Benefits: Tuition Assistance and BeyondReal Estate Goals: Saving for a Down Payment with IntentionalityMentorship and Networking: Learning from Industry ProfessionalsPractical Financial Tips: Budgeting, Saving, and Investing Wisely 🕒 Chapters: Introduction to Devon's Story and His Early Start in FIThe Domino Effect: How Devon Visualizes His Financial FutureNavigating College and Military Life: Tuition, Benefits, and BudgetingSaving for Real Estate: Devon's Plan to Buy His First HomeMentorship and Networking: Building a Successful Career PathPractical Financial Tips for Young Adults and Military MembersIntentional Living: Balancing Work, School, and Personal GoalsKey Takeaways and Final Thoughts 🔗 Devon's Links and Resources Mentioned in the Show: Devon's Website: Freedom By the DayLiberated Mind Library InstagramContact Devon via Email: Freedombytheday@gmail.com

In this episode: Roth IRA conversion ladder, starting with the end in mind, investing for growth or stability, and retirement planning. While we have covered Roth IRA Conversion Ladders on ChooseFI before, we have never in the past taken such a deep dive into the subject like we do in this week's episode! Once again, we are joined by friend of the show Cody Garrett from Measure Twice Money, as we cover a high-level-FI approach to the Roth IRA conversion ladder and ways one could approach propelling themselves into a FI fueled retirement! Cody Garrett: Website: Measure Twice MoneyYouTube: @MeasureTwiceMoney Resources Mentioned In Today’s Episode: Measure Twice Money ChooseFI Podcast ResourcesThe Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep. 17RRoth IRA Conversion Ladder Case Study | ChooseFI Ep. 163RFind Your Local ChooseFI GroupSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: travel rewards, frugality, companion passes, international travel, intentional spending, and listener questions. This week Brad is re-joined by Ginger as together they go back to basics during our returning round-up segment! This time around, the pair will be talking about recent travels and hacks they’ve used, travel rewards tips, answering some community questions, and shouting out some of your FI wins of the week! This episode is a great way to crowd-source new tips for people just beginning their FI journey, from learning how to navigate companion passes when traveling, to learning how to both save and spend your money with intentionality! Resources Mentioned In Today’s Episode: Friday Roundup | Huge Announcement | ChooseFI Ep. 22RTravel Rewards ChooseFILiving Frugal Frugalwoods | Save 75% Of Your Take Home Pay | ChooseFI Ep. 12The True Cost Of Car Ownership | ChooseFI Ep. 22Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile