027R - Friday Roundup

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1 - 34 Jonathan Mendonsa Ok guys you made it to the weekend this is your Friday roundup. This is a weekly gathering place where the best ideas of our community are coalated and presented to you in a compelling story that moves us all closer to Fi and this week is a perfect example of that as we have about five or six different parallel life hack personal finance storylines that we're following. And we have new information on all of those. So this is going to be an extremely dynamic fast moving show and we're super excited to present it to you today. How you doing Brad.
34 - 45 Brad Barrett I'm doing great Jonathan. I'm excited for the show. There are definitely a ton of different items we want to talk about so hopefully we can get it in in our customary hour or so. And yeah I think this is going to be a good one so I'm excited.
45 - 85 Jonathan Mendonsa I feel like the show is maturing to a degree at the beginning. We were kind of just flailing around trying to figure out what our process was going to be. But it's developed we have we have a very vibrant real community that's engaged and is providing feedback and in many cases is doing a lot of the heavy lifting for us. The FI community has the most intelligent community members really in the world and the information that they have somebody just needed to provide them a place to actually put it out in front of the public because it's that good. And so really what we're trying to do is get ourselves in our own limitations out of the way and just facilitate this awesome conversation that grows on itself and tells a compelling story.
85 - 119 Brad Barrett And that really is going on in our new Facebook group that we've mentioned on the last two Round-Up. So for anybody that hasn't joined the Please join us there. It's an incredibly vibrant community there. Really at this point dozens of new threads forming up every single day. I think that was and I'd mention a week or so ago that Jonathan posted had 80 comments overnight. Now it's up to I think 240 So I mean you see how involved people are. And the easiest way to get there is just go to choose FI dot com forward slash Facebook and then just enter your email address and we'll send you out the link to the private group.
119 - 164 Jonathan Mendonsa And just to follow up on that the idea behind that particular thread was what needs to be covered. We know what has been covered what still needs to be covered for this story to be complete and those 240 ideas. Every single one of those is worth talking about and so that's five years of content right there. And I don't want anybody to think that we are not actively looking at every single one of those as a viable option. We absolutely are and that is kind of a central repository for ideas for future shows. From there we can take five or six at a time and then give them to our community and together we can start researching these ideas and figuring out how to tell a story with that so that is an amazing resource that we're building over there that we will all be benefiting from over the years to come.
164 - 231 Brad Barrett And just a tangential thing that Jonathan mentioned was the fact that we are looking at all these Facebook comments and emails and such and we are at the point where we're just getting bombarded with with e-mails and comments and it is amazing it's the most gratifying and just extraordinary thing that's happened to either one of us ever in our lives. But just please if we don't respond to you personally. Just know that we are reading every single thing out there. It's just such an overwhelming amount of data and like Jonathan said there are 240 distinct threads there are comments that we could do an entire show on and we hope to do many if not most of them actually. What's funny is my brother called me out last week. He's like when we had a frugal win of the week from the Facebook group he's like you mentioned the two people that talked about ways to save money on freezing bananas and you didn't leave and you didn't mention mine. How could you do that. I mean you know he was obviously kidding around but it was just it made me realize that while it's wonderful that we are mentioning so many people there are countless numbers that we just can't mention my name just due to sheer time limitation. So please again know that we are reading every single one and we appreciate it greatly.
231 - 233 Jonathan Mendonsa Scott sorry about that.
233 - 235 Brad Barrett Yes thanks. Thanks for mentioning his actual name sorry about it.
235 - 318 Jonathan Mendonsa OK so let's go ahead and take a second and talk about this past week's episode with slowly sipping coffee. He is a their own very loyal vibrant readership and I think that the people that had been listening or reading his content. Mr. and Mrs. Slowly sipping coffees content for the last several years really enjoyed getting a chance to put a voice to the writing and I know that because I spent some time on their blog just just reading their content. I thoroughly enjoy it and I could see that coming through from his community and it was it was a wonderful interview. It was a very laid back interview and it made sense to me. Their life choices seemed like a very replicable one. It seemed like there were logical decisions that were being made there was nothing radical going on there. Rather it was a team a power team a power couple that their focus was not on consumption. Their focus was living on this middle class lifestyle that was happy and provided their family with everything they could want but their focus was purchasing their freedom and and as a result of those decisions they were able to claw back control and when things got tough when there was uncertainty in the job market the flexibility the freedom and the peace that they had from the decisions that the foundation that they had laid for their family's lifestyle that is something that that you don't fall into. That requires a plan. And I love that Miss SSC had a plan for her family.
318 - 438 Brad Barrett Yes. So Mrs. SSC is just an absolute rock star. I mean there's no no other way to put it. The fact that I mean Jay Jay is a funny guy right. I mean it took him six years to get onboard with this. So you know the brilliant Mrs. SSC is working in the background with her perfect spreadsheets and saving money and doing all these the right things before they really even were aware of the true concept of FI let's say, she's just rock n roll and she's trying to convince him. But but it just didn't work. And then he had that lightbulb moment where he actually figured it out. And I mean now obviously look he's the writer on this personal finance financial independence blog that's as 180 as you can get. And it does remind me in a sense of a lot of similarities I would say between Joel and Alexis from FI 180 you know to some degree. There are similarities so I like their money challenges where he said like their first thing was let's try to cut our credit card bill by 10 percent. And if you're not used to doing any kind of challenge maybe that sounds daunting but they blew past that and then they said All right let's do something real and make it 50 percent right. And that's a totally different ball game it's making a game out of personal finance and again making it something that you can do together with your spouse and there's a lot of power in that. One thing he mentioned that stuck out to me was to quote him. He said they were more conscious of the spending and just that one little thing made all the difference in the world. So just putting some attention and intentionality behind their spending made really a significant difference to the point of getting rid of 50 percent of their credit card bill which was just filled with fluff. Right. With the target. I didn't realize so many people honestly went into went into Target and just spent so much money. But I guess Jonathan you mentioned that Joel and Alexis mentioned that Jay mentioned that. So this must be one thing clearly. But yeah I mean he has just said you know another quote is We were just frittering away money on nothing. And yeah that's that's really powerful. So just put some thought behind your spending and almost by definition it's going to make a huge difference.
438 - 441 Jonathan Mendonsa That word makes me want donuts. I don't know why.
441 - 441 Brad Barrett Which one?
441 - 544 Jonathan Mendonsa Frittering. Absolutely and yeah I can personally vouch for just wanting to blow an hour inside of Target or at least you know on behalf of my wife but I could do it at Best Buy I could do it at Dick's Sporting Goods. I could do it. Pick another. Pick another store you definitely see that. I think there's a difference when you are trapped in your lifestyle. You're working 40 to 60 hours a week. You are spending everything that comes in the door at which requires you to then work every single hour you can and maybe pick up extra shifts you're trapped by your lifestyle. You do not have you only have to segment the small sliver of time that's available. Once you have then counted into that the cooking you need to do the laundry and your home maintenance mow your lawn that sort of thing. And so with that hour or two window that you actually have left you may not feel that you can actually do something like go rent some canoes and go to the lake or go tubing down the river or take your family to go do this activity together you mainly have this one or two hour window. And I think there's this passive grazing mentality that says you know what we don't have time to do anything else let's just go to Target to hang out the crazy and diabolical sneakiness of that decision is that inevitably as that becomes a pattern you end up getting sucked into increasing your lifestyle purchasing the new throw pillows purchasing the area rug which then as it becomes now a lifestyle choice continues to trap you in that cycle and that hamster wheel and breaking that is critical. I have nothing against Target. I love Target all of all of those stores. But you can see how when you have spent all of your time focusing on earning income so you can afford your lifestyle not getting ahead you don't have any free time built in. And then you just start grazing through life. You can start to make bad decisions and you know it just makes sense to me.
cooking, families
544 - 644 Brad Barrett Yeah I hear you and that kind of made me think of something out as far as grazing and also this intentionality and it also comes down to how you spend your time in life and lots of people don't really batch process. And Jonathan we've been talking about this actually with how much time we spend on choose FI and that it's easy. I mean you and I could spend 24 hours a day on Choose FI very very easily. You know many of us and I know I'm guilty of this. I'll stop by the computer for oh I'm just going to check my e-mail for two minutes and then it's 25 minutes later and or I'm going to hop on the Facebook group. Same deal. Let me just see what's up. It's an hour later. And whereas if I sit down with intentionality and not that grazing mentality I can say alright I'm going to spend two hours writing e-mails or I'm going to spend 90 minutes in the Facebook group and just respond to every single possible thing I can. That's just so much more efficient and you don't feel like you're constantly being called back to and this is not about ChooesFI obviously this is you can use this in any aspect of your life and not for nothing. But when I go upstairs to quote unquote check my email for three minutes Laura and the girls know that I'm going to be gone for 20 minutes and that's just not good enough. So I find that that intentionality not only with spending but how you spend your time is really crucial in life. So I've been a victim of my own bad judgment with this and it's something that I'm trying to work on and trying to get better on. And it really is making a huge difference. It's amazing how much you get done in that one little batch. Right. The 90 minutes or an hour or whatever it may be you just feel so free mentally because you're like wow I cannot believe that I could conceivably done that much in that hour. And then you don't have to think about it again it's wonderful.
644 - 726 Jonathan Mendonsa That conversation really needs to be flushed out because it affects us almost in every aspect so first of all there's the process just looking at that from while you're at work. For those of you that really have to focus on certain task and not those task out that was probably a great tip there. But what I'm thinking of is maybe more specifically when you're at work you're kind of already being forced to do that at least in my job as a pharmacist. I am absolutely focused on the singular task for eight to 10 hours eight to 12 hours. But then now as potentially I'm transitioning to this FI mentality I find myself dictating my own schedule to a larger larger degree. And I don't have this construct that's already built and where I need to be at 110 percent efficiency for eight to 12 hours at a time. And now I am dictating my own schedule and making those priorities. And frankly there is a huge learning curve there that Brad had to figure out over the last several years and is still working on and I am having to figure out what we could even put this onto our community as well as you are transitioning to buying your freedom back buying your time back buying your life back and you start to open this up. What are you doing with that free time. How are you best using that to actually do what the ultimate goal was which is to develop these relationships pursue your passions. What's the most efficient way to segment that out and really enjoy the process so that one passion doesn't seep into every other aspect of your life and slowly erode those things that you were initially working to preserve.
726 - 727 Brad Barrett Yeah that's really powerful.
727 - 795 Jonathan Mendonsa So that's my challenge. Currently Brad's really tasked me with this knowing that it is going to be critical for me as I pursue my passion is something that you guys know how excited I get about Choose F-I as I am pursuing this as my passion that it doesn't erode my family life because I am putting every waking second into this. And that's a real challenge and it's a challenge that I live for I enjoy it. But Brad's really challenging me to go ahead and focus on this concept of batch processing and make sure that the time that I'm carving out for my family is my family time and the time that I'm focused you know choose F-I I'm giving that almost the same intensity that I would if I were quote unquote on the clock at work. A You've got to figure out a way to be in the moment whatever that is. Be there don't be 20 percent everywhere and passions can easily get diluted into other things. So anyways that's kind of an aside I think there's value there to explore that. And I think if you can master that concept I don't I'm not saying this is someone who's mastered it. I'm working on this. I know my wife is waiting for me to be able to grab this concept because she knows that once I can get this part figured out it's going to provide value for our family. So yeah thanks for opening that up Brad.
795 - 900 Brad Barrett Yeah you bet. You bet. And you certainly said something be in the moment and don't have your attention divided. I think that's a lot of people have gotten confused with the concept of multitasking that that's actually a real thing and it's not in any way shape or form. The science is clearly showing that our brains are not capable of doing that. There's a mental switching costs between tasks and if you've ever sat with someone and try to have a conversation with them while they look down at their phone you know how incredibly frustrating and annoying that is. I've gotten to the point in my life where I literally stopped talking if I'm speaking to someone and they are obviously interested in something and I just stopped mid mid sentence mid word and just let them finish because it's just not worth it. So being in the moment is very important and I am not perfect by any means so I mean Laura could tell you I you know she'll be she'll come in and I'll be looking at my phone sometime so this is not me saying I'm perfect by any means but but it's something you really need to get better at in life. And the beauty of FI is that this is a life pursuit. It's not merely about money. It's about getting better in every aspect and every facet of your life. And that is why I spend so much time on this podcast talking about life hacks and happiness and some of the research I've been doing into this because because this is the important stuff this is what lead you to a better life because I think a lot of us I know in conversations that we've had on the podcast and I've had personally with Brandon the mad fientist and Carl from 1500 days. It's finding what you want to do when your post Fi and what your life looks like. And I think if we're all thinking about this stuff and trying to come up with these life hacks to make our life better over the years leading up to it it's going to lead to a much happier existence in FI.
900 - 943 Jonathan Mendonsa So one of the phrases that got dropped this past week was the Mt. Rushmore of fire and I love that we can't take credit for that. That actually came from one of our super users Isaac who constantly gives us really great ideas and feedback that allow us to really flush them out on the show. But absolutely miss SSC is quickly earning her place and earn her reputation with the spreadsheet magic and we had a comment from Stacey who basically said Miss SSC is the wonder woman of the spreadsheet which is hilarious and well timed with the movie that just came out which I really want to see. I think it's supposed to be really good haven't actually checked it out yet but I love that in the FI community. The people that have figured something out and not just figured it out but been willing to put their ideas out there for the rest of us to benefit from those are our superheroes right Brad.
943 - 976 Brad Barrett Yeah without a doubt. I mean that's what's cool about this is it's taking regular people right. These bloggers who are quote unquote on the Mount Rushmore they're just regular people and you'll see that if you ever come to a camp mustache or come to any event like Chatauqua or anything like that but they are superheroes in this world. Because we all read their blogs we're interested in what they're doing and we're all in it together. That again is a huge benefit of this. We realize we're not islands unto ourselves. We're part of a community. And yeah I think this is a fun little conversation about the Mount Rushmore of that that I know Jonathan wanted to have.
976 - 991 Jonathan Mendonsa I said Let's say there's five positions and really can be anything we can have a Mount Rushmore with 10 heads on it that's fine. But right now let's say there's five spots. Who. Who's on this Mount Rushmore currently as it as we know. Miss SSC is nipping at the heels but who's currently on Mt. Rushmore right now.
991 - 1002 Brad Barrett Yeah I mean I I hate to leave anybody out. So that's why this is. Maybe that's my own psychological law. We need to do is we need some controversy. Yeah. Well Mr. Money Mustache Obviously there's no controversy there right.
1002 - 1004 Jonathan Mendonsa Yeah I know. I'm with you. I put him on that one.
1004 - 1006 Brad Barrett Would you put J.D. Roth on there. That's kind of.
1006 - 1009 Jonathan Mendonsa I would I would put him on there.
1009 - 1023 Brad Barrett Yeah I mean he's the guy who for many of us he's the guy who started this. I mean get rich slowly. Was the blog I was reading 10 years ago before I had any idea what a blog once it was just this guy J.D. who was writing about his life and that made a difference to me personally.
1023 - 1049 Jonathan Mendonsa Yeah I think he was the one that created the format that we're all benefiting from now. The idea of creating a community around this particular topic around this unconventional way of looking at personal finance looking at personal finance as a story that you can relate to and that you can grow along with. I think he was the first one to really do that. And yeah absolutely. He has earned a permanent place no matter what project he's working on now. He has earned a permanent place on that Mount Rushmore for sure.
1049 - 1060 Brad Barrett Yeah I agree. I would say Jim Collins would be on my Mt. Rushmore. I know the the stock series changed my life forever. So that that gets a place in my eyes.
1060 - 1098 Jonathan Mendonsa I would vouch that 100 percent. That is a pinnacle article series. The rest of his content is great but just that one article series alone has transformed so many lives and the way that so many people look at investing it simplified it and took it from something that was a lot of little confusing. There was a lot of mixed messaging. Frankly it was very emotional and allowed you to separate that from it and actually turn it into a simple process that is accessible for everyone. And then because of that it gave you a way to then explain it to other people. So for sure I have no problem. There's no controversy in my mind about those first three positions. This is where it gets tricky though.
1099 - 1102 Brad Barrett Ha ha. Yeah I think. I think that was the low hanging fruit right.
1102 - 1102 Jonathan Mendonsa For sure.
1102 - 1131 Brad Barrett So I had never read early retirement extreme so I wouldn't go so far as to put him on there though I suspect some people would I probably would put Brandon from the mad Fientist on on there. Just his Roth IRA conversion letter as well as just many of the tax optimization hacks and other items spreadsheets and I know his guinea pigs scenario is really interesting. He's got a lot going on. I think a lot of people consider him right up there with Mr. Money Mustache.
ira, roth, tax
1131 - 1163 Jonathan Mendonsa That's good. Yeah. No I think there's room there. Absolutely. Now I'm going to the one thing I'm going to say here is that this is specifically for the F-I community. You know I think if you're talking about personal finance and who is affected millions of people inside the United States you could you could make a case for Dave Ramsey. He is not. I would not say he is in any way shape or form in the fi community. So he is not going to be included in my opinion. He's not on this list just just for those reasons alone which means we still have one spot open and I haven't really contributed anything here. But frankly I'm interested Brad in your thought that way I can either agree with that or maybe go down a different rabbit hole. Who would you have for that fifth spot.
1163 - 1189 Brad Barrett I think I'm going to take a cowards out here and not give an answer. I think we should leave that fifth spot open. OK. I think that might that might be. I do want to hear yours Jonathan and I suspect you're less cowardly than I. But you know this might be something for the Facebook group or for you know shoot us an e-mail. Who do you think is on you out there in the community who who is on this Mount Rushmore of FI. But John if you and I have some guts and go for it.
1189 - 1228 Jonathan Mendonsa I mean I don't know if I have the guts to fill this one out. I mean I'm looking at my list right now and all my top 20 list that I had that I had put together of like people that have had it had an impact on me certainly some contenders like white coat investor was on there go curry Kracker was on that list. I had millionaire educator. Really had an impact on me. The bigger pockets forum had an impact on me although they're definitely not in the community. Early retirement Xtreme had an impact wealthier accountant had an impact but I could and you know budgets are sexy fantastic. The bubbleheads forums fantastic. Those are all people that are on my kind of short list in my mind but I can't assign them that fifth position. I think it's up for grabs.
1228 - 1232 Brad Barrett You mean maybe you mentioned BOGO heads. What about Bhogle himself.
1232 - 1380 Jonathan Mendonsa Oh my goodness that could be it. That's that's good that's really good. It's a crowdsource show. You know let us know what you think. Who needs that fifth spot. The last thing that I really wanted to hit on with this episode was the power of knowing that you no longer need your income and so I'm thinking of that scenario with Miss. ssc where she was in the position of potentially getting fired. And they had created so much margin in their life that even if that were to happen they were going to be ok. Being fired in that scenario was essentially an excuse for them to then go pursue their passions. And I love that he suggested you know maybe you want to go work in an animal shelter. And I think that that's the conversation you know I know there was an article that was posted recently over at investment motes dot com and it was by Keith and he actually writes out of I believe it's Singapore and he's been following our work for a while and he wrote an article on basically the hypocrisy in the FI community of hating work and talking about this idea that the work provides so much for you shouldn't you. It seems like in the FI community we're always ragging on work and shouldn't you just focus on really loving your job enjoying your job. And I think that's probably well-deserved criticism I think in many cases the FI community does focus on just leaving it just for leaving its sake all work is bad. There's probably an overtone there that we just can't avoid just because we get so excited about our passions and that's because in many cases our passions do not involve our job. And certainly if you can get to a place where you love your job you're going to win in that scenario and I know many people in our community are people that said I hit five five six seven ten years ago and I'm very happy I'm not going to leave my job now I'm in my peak earning years. There's really no point for me to leave right now. I tap dance my way to work everyday in the morning. I love that. This is not the you need to quit your job show and here's all the reasons why this is a show about pursuing your freedom. But I love what Jay said. What if you are in a situation where it's a grind. We're going in every single day as a chore and as you get closer to fi it becomes more of a drag. It becomes more of a grind. How freeing is it that in the context of fi once you no longer need your income you can now pursue work for the purity of loving what you do not based on the monetary compensation component. So if your passion is taking care of animals in an animal shelter whatever that looks like if you can make that choice without the very real financial pressures of needing to keep the lights on and feed your family thats the framework that I want to develop and that I want to see people be able to choose.
1380 - 1435 Brad Barrett Yeah. And their concept of FFLC right fully funded lifestyle change. That is a different terminology for what we talk about here at ChooseFI and what Jonathan just went over and and I think I think a lot of people early retirement or retirement in general is a very loaded concept for people and they have a hard time getting past just the word retirement and all the baggage that comes along with that word. So if you can reframe it as fully funded lifestyle change well thats a very positive outlook. Right there's no negativity associated with that. FFLC is just you can do with your life what you want and there is huge power in that. So this is not as Jay said not retirement for the sake of quitting work its taking power back to do what you want with your life. So its a minor distinction but words matter in life. And those words and that concept of FFLC is is powerful.
1435 - 1533 Jonathan Mendonsa Last thing. What is your risk tolerance. That was really the emphasis of the last episode. I think its a great way to end this little segment and the final question there was how much longer are you willing to do something that you're not enjoying or something that you hate. To guarantee an outcome as opposed to accepting a 10 percent risk of failure. And coming up with a strategy to implement if it fails. That was essentially what Miss SSC set up for them. She she set up a way that basically he had the option he could work for another two to four years and then get a ninety nine point nine nine nine percent rate of success. Or he could be willing to accept an 80 or 90 percent rate of success and they could essentially retire within the next several months or now and they have a 90 percent chance of success. But if they were to have a setback or they were to come close to failing or something would not go the way that they foresaw in their spreadsheets she had these game plans these five or six scenarios laid out in the spreadsheet that would allow them to compensate for that like selling the home or picking up a part time job or making an adjustment in location. That is a creative way of looking at a problem and instead of just saying Oh we'll see fire sims says I'm at an 88 percent and I really want to be at a ninety five percent before I pull the trigger. You know you don't have to look at this from this one dimensional perspective we've taken all this time to flush out five 10 15 20 different ways that you can optimize your life and miss SSC took that and turned into a game plan and I think that is what you have to do. Don't just be one dimensional with this number. Be willing to be flexible be creative and use the skills that you have learned over the past year to figure out all the different ways other people have handled that same decision.
1533 - 1664 Brad Barrett Yeah. Just really quickly I'm glad you brought up the C fire sim and we'll link to that in the show notes certainly. So let's C fire sim SIM Dot com. And I know my wife Laura was actually slightly confused with the talk of the 80 percent to 95 percent just because she's never heard of this website before and really didn't know what we were talking about. On the on the actual podcast so I suspect there are other people out there as well that that feel the same way. So I would definitely recommend checking out that Web site and it essentially allows you to put in your information your retirement year. The amount of time you expect the money to last we're hope for it to last for your current portfolio. You're spending all sorts of things. And it runs these scenarios based on historical data and it runs a simulation and gives you a percentage likelihood of your money lasting for X number of years. And we can never be certain in life. But but there is. Like Jonathan said once you get to 90 percent once you get to 94 percent that's incredibly likely that it's going to happen. So to go and spend an extra year or two of your life working to go from 94 percent to 96 percent in the ceasefire sim seems very silly to me especially because realistically it's not like you're never going to earn another dollar in life. I mean in all likelihood many of us have passions and some of those passions bring in money. Many of us will have Social Security down the road as as big ern mentioned on Paul's case study. There are ways that you're going to make money in the future and to just say all right I'm retired again with the negative connotations of retirement is very shortsighted. So when you get some degree of certainty over let's say 90 percent or it seemed like the ssc's were even considered lower than that. Well it doesn't need to be ninety nine point nine to be fairly likely of there being huge success. And this is your life a year or two of it going to a job that you dislike. If that is your life if that is your scenario. Well that probably isn't worth it to go to get to that 99 percent or 90 or whatever your number. So anyway long story short I would check out that site. It's kind of cool just to plug your numbers in and check it out.
1664 - 1729 Jonathan Mendonsa OK so it's a crowdsource show guys. So first Luis sent me this message the other day and said fire in the news and I know a couple of you linked to that this morning and CNN is now featuring people that have actually pulled the trigger on FI or are planning on pulling the trigger on FI. It is absolutely going mainstream. This tidal wave is catching on. The fire is spreading and so we're going to link to that in the show notes. This particular article featured the couple Claudia and Garrett who have a blog over at two cup house which is a 536 square foot tiny home in Pennsylvania and essentially by focusing on slashing their expenses and capitalizing on their income they were able to go from in debt to FI within five years I believe. So we'll we'll put a link to that in the show notes but it looks like CNN Money is now actively collecting stories from people that have made this choice so very very cool stuff and yet another illustration of how this idea is captivating the minds of the mainstream world. So Louise thanks for sharing that with us. And if you have another example of a fire in the news send it to us. We'd love to feature it in this particular segment of the show.
Jonathan_Catchphrases, debt
1729 - 1783 Brad Barrett All right. So in our Facebook group we had a really cool post by Andrew who said who else can hear Jonathan smile right before he hits the hotseat intro love that you guys are even more motivated about the podcast than day one. And yeah this is this is a cool and. And Chad responded with OK. Who else has the life goal of sitting in the hotseat. Is it just me. And yeah this brought a huge smile to our faces so I wanted to say publicly to Chad. Chad if you're listening which I'm sure you are. We want to make that quote unquote life goal a reality. So send us a voicemail. You know the you know the questions on the HOtseat go to choose FI. Send us a voicemail with your answers. We'll splice in our questions Jonathan's intro all that good stuff and yes we'll put it on an upcoming Friday roundup. So yeah I mean guys we we love this Facebook group and it is really the center of our community now. So this kind of stuff is just amazing.
1783 - 1806 Jonathan Mendonsa And what's really fun about this brand they're kind of developing this different tagline because although choose a is still all about experiments and financial independence we think it's gone past that point now. So I think we're going to settle on choose FI the ultimate life hack which it really is. But right now in this moment I'm thinking choose F-I making bucket list possible in your 30s and 40s. What do you think Brad.
1806 - 1812 Brad Barrett A little long winded I think but. Well sure but I like the sentiment nonetheless.
1812 - 1846 Jonathan Mendonsa So Chad also sent us another message which we wanted to plug in really twice today and the reason for that is it ties in so well. And he said I got a lead or two for some potential clients and found a financial literacy class that is backed up so I may contact the class coordinator to offer services as a teacher. So this is someone that is dyed in the wool FI right and has been soaking up all these ideas and potentially is now working with a financial literacy teacher. Can you imagine the power of spreading this concept to people that are in a class because they're desperate to learn what they don't know. But they don't know where to start.
1846 - 1943 Brad Barrett Yeah that's incredible. As this community is growing we're seeing more and more people mentioning this to family members to friends to colleagues or students. Right we've had multiple teachers say they have decided to start a new curriculum in their class on financial literacy and even financial independence you know to some degree. So this is very powerful and I know one of the things we say here pretty often about how you can support the podcast is to leave us an iTunes review. And I certainly believe that and that just as far as getting us more well-known and iTunes and getting more people to listen. But realistically the best way that you can support the FI community is to tell someone about this. Find someone in your life who could benefit from it and it might be an uncomfortable conversation or might not and it might be a fantastic one. I know I've since I've had this podcast I've mentioned this to multiple people in my life. As I mentioned on on prior episodes and people are making changes in their lives and these are legitimate things. I mean I know people who had never heard of this concept before and are now on a FI path in the next five to seven years. And those are friends of mine that are actually taking action because I had the guts to have that conversation. So this is not about you supporting choose F-I per se though. You know obviously you could send them to certain episodes are episode 21 the pillars of FI is a great place to start but it's about supporting the financial independence community and growing it and bringing this concept to people in your life who can benefit from it. So yeah I am onboard in every way shape or form. So with spreading this message and yeah this is this is a wonderful one that Chad mentioned.
families, teacher, testimonial
1943 - 2020 Jonathan Mendonsa The other half of this is just the impact of teachers and people's lives so millionaire educator was one of our first guest is one that we're super excited that he actually has offered to also come on and be a part of our team and be an in-house expert really helping us handle case studies dealing to some degree with pensions but also mostly with the 457. He has a lot of experience dealing with the situations that teachers face and those scenarios he's also really good at GEO arbitrage especially inside the United States so he's going to be an in-house expert helping us really navigate some of these lanes that are maybe outside of Brad and my comfort zone. And he also is in a unique position to help us with second generation fire. As a teacher but also as a parent that is trying to pass this stuff along to his kid and perfectly timed as we were about to do this. We actually got a message from one of millionaire educators former students. I think he's an 18 year old out of Georgia and he's interested in pursuing this path for him and his buddy. Can you imagine the power of soaking up this idea in your teens what that means for you. Even if you are in your teens you're a first generation fire baby. That is incredible. The timeline that you have now you have these ideas locked up before you lose that decade of your 20s you're just going to crush this game. So Brad tell us a little bit more about that message you got from Austin.
2ndgenfi, 457, geoarbitrage, pensions, teacher
2020 - 2086 Brad Barrett Yeah this was great. Very excited to see this so Austin sent in a message saying Hey guys I love the podcast. I've been listening for a while now. I'm currently only 18 years old and thankfully I was lucky enough to have the millionaire educator as my teacher a few years ago and he was of course the one who got me interested in financial independence and I wrote back to him saying how excited I was and he said him and his buddy Landon both just graduated from high school and they're moving into an apartment together and they're choosing to go to a technical college in the fall to avoid racking up serious student loan debt. So I mean those are multiple things we've talked about. Right. Huge way to save on housing costs though it's not the house hacking that we've heard of from Chad Carson still splitting an apartment it sure as heck better than going out on your own and thinking you're some big adult now. It's actually making that conscious decision and you know they're going to a technical college they're not going to have significant student loans and they're going to come out presumably with with skills to start up with a job and she's going to be 18 years old and already know about financial independence and having learned this directly from the millionaire educator. It doesn't get better than that.
college-loans, debt, househacking, housing, teacher
2086 - 2130 Jonathan Mendonsa I will be following their story with interest and I'll also be trying to develop based on the input that we get back from them and from people that have already made those first few decisions. One of the frameworks we need to develop is that transitional period of time that weighed in between 20 and 30 and actually fiery millennial would be a perfect guest to come on to explore that concept because she actually made a lot of those choices already and it's just crushing it. I mean she did the college acking she did the house hacking. She's got the job in the Midwest so she's got the arbitrage thing going on it just at every single level. She's crushing this game so Fiery. Millennials will link to her blog and the show notes that is a guess that we plan on having on and I think she can help us flesh out what this path to FI looks like. While you're in your 20s and you're all this essentially right now the single path to Fi right Brad.
college, geoarbitrage, househacking
2130 - 2134 Brad Barrett Yeah I love that. Gwen's really cool and she'll be a top tier guest for sure.
2134 - 2153 Jonathan Mendonsa But now I want to go ahead and pivot into my second generation fire moment here and today this is also going to be a millionaire educator focus he is working with his son to help instill these values and these concepts into his son's mind at this younger age. And he shared with us his thoughts on how to go about doing this. Hang on a second Brad will get this teed up.
2153 - 2309 Millionaire Educator Hello Brad and Jonathan this is Ed mills of the millionaire educator. I have three quick tips for second generation fire. These three things that I've done recently my son has a mutual fund account at Vanguard and I tried a number of things getting turned on that I would match his birthday money if he got 10 bucks I'd put that in his account. Nothing really seemed to get his juices going on that so I went and did this. I changed his capital gains and dividends and made them they're not reinvested automatically into the fund I have them sent to his youth savings account at USAA. And then twice a year he and I sit down at the computer and we pull up his account and we see what he earned from his mutual fund. Last June he got $45. And this past December he earned $55. Well $100. Not a lot but to an 11 year old kid it's a ton of money. And then after we were done checking it I said OK we're going to buy some more mutual funds with this. So I just log into the vanguard account and I purchased them since I have this mutual fund account and savings account linked. It's very easy to do. And of course I throw some more money on top of it to round it up. And he seemed a little more interested in mutual funds and investing by showing that he actually gets some dividends and capital gains what he earns feels more real that way. Another thing I did this past year is I opened up a personal capital account just for him. And so he can see all these accounts college money mutual funds bank accounts and I got to tell you he's got a lot more money at 11th than I had. And that seemed to get him interest a little more. And the most recent thing I've done is I opened up a youth checking account for him at USAA this past spring and his debit card came last week and he was very interested in getting the debit card. So what we did last week is we went to a local supermarket and I taught him how to use an ATM and he learned how to do that put in his Pin and things that we all take for granted it was a big deal to him. He loved it. And then we went and got a pack of gum and went through the check out and he took out his debit card again and he only paid for his gum also $10 out from his bank account. And he liked that. And he's really thrilled to have his own debit card so those are three things I've done that seem to stimulate a little bit of interest. I would say of those three the most powerful one thus far has been the capital gains and dividends. Let him see that stream of income hitting his savings account. It felt real I have to admitt he did want to take it and go spend it. And that's not part of the deal. All right guys thanks a lot. Hope this helps someone out there.
2ndgenfi, college, savings
2309 - 2356 Jonathan Mendonsa So there are hundreds of thousands of parents in the FI community that are trying to figure out how to communicate this message to their kids in a way that is compelling and addictive and doesn't take Miss SSC beating them over the head with a stick for months at a time years at a time. In order to get it through and if you can turn this into a game it works for me. If we can somehow turn this into a game for our kids that they feel like they're winning as well and they get it it makes sense. That's going to be a different approach right. You're going to need to put on a different set of levers and millionaire educators right there with us. He's figured out for himself he's figured out first family but how do you ensure that it translates to the next generation. That's the conversation that we're going to continue to have. And there's some great tips there on how to pass that along to your kids. I love what he's doing.
2ndgenfi, families
2356 - 2379 Brad Barrett Yeah I'm always looking to test new things that all that work and is as he mentioned. Everything is not going to work on every single kid. So you have to really figure out what resonates with your children. So as Jonathan mentioned there are many of us out here with different ideas different hacks. We'd love to hear them so post them in the Facebook group what are you doing to educate your children financially and make that second generation fire a reality.
2379 - 2439 Jonathan Mendonsa And again on our Facebook group just go to choose FI dot com slash Facebook. There's a simple opt in form and then we will send you the invite to get on our Facebook group where you can continue this conversation. week Round so there's a conversation that's long overdue and that's talking about the mortgage deduction. That's a big focus in the personal finance community in general I would say that although maybe it's slightly less of a focus in the FI community where there is I would say across the board generally a larger interest in renting a Brad and I both own homes so that's not by any means the rule but we do place less of an emphasis on homeownership in the FI community for sure. But we still need to explore why the mortgage deduction is like getting 25 percent off pants. You still have to pay the other 75 percent. And there is a need to explore that further. So Juan who has a blog over at finance clever dot com sent us a voicemail to really help us explore why we're not getting as much benefit from the mortgage deduction as you think you are.
2439 - 2535 Juan - (voicemail contributor) Hey guys this is Juan from finance clever dot com Let me start by saying that I love your podcast and you guys are doing a wonderful job and I've been in the FI community for about two years and have gone through a lot of resources blogs podcasts and let me tell you ChooseFI is really one of the best so congratulations and keep it up. The one thing that I wanted to talk about today was the tax benefits of homeownership. You guys mentioned briefly on the last Friday around and used a wonderful job driving the concept that nobody gets rich making 25 cents by spending one dollar. Meaning that in order to get a tax deduction you first have to spend a bunch of money on mortgage interest and property taxes. I think you guys hit on that wonderfully. I would also like to add that when you get this kind of deduction anyway which for married couple in 2016 is twelve thousand six hundred dollars. So in order for a tax deduction to truly have any benefit you have to have paid more than twelve thousand six hundred dollars in property taxes and mortgage interest which is a lot of money. And I feel most of us in the FI community optimize our housing costs and I don't feel like a lot of us are paying more than that amount and certainly not getting any tax benefits from it. I'm certainly not paying more than the standard deduction. Property taxes and mortgage interest. So just something I wanted to put out there. Maybe you guys can flush it out a little more eloquently than I can. Anyway guys thanks again for all you do and have a great weekend.
housing, tax
2535 - 2735 Brad Barrett Yeah I love this voicemail from Juan and he actually sent us a link to an article that he wrote on finance clever dot com and we'll have that in the show notes. It's entitled The tax benefits of homeownership. Myth or reality. And it's funny that he picked up on my comment about this in last week's roundup because I actually wanted to go more in depth on it because it's something that it's another one of those little things that kind of sticks with me that I've always thought is really odd. But this is like kind of a high level concept that people don't necessarily understand. So not only is this an instance where you're paying a dollar in mortgage interest. You're getting as Jonathan said 25 percent off the pants in most cases you're getting a tiny tiny tiny little fraction of actual value from your mortgage deduction. Even when considering your marginal rate whatever it is 15 percent for most of us or 25 percent or up if you make a significant amount of money. And the reason why is what Juan eluded to here is that there is this standard deduction that we get on our tax returns and as he said for 2016 I'm going off of his data but it's twelve thousand six hundred dollars. So in order to actually get any benefit whatsoever from your mortgage interest you have to itemized deductions on your tax return on schedule A. And now again for them to have any benefit whatsoever the itemized deductions need to be higher than that twelve thousand six hundred standard deduction. OK. So let's say all of your itemized deductions together your state and local taxes your mortgage interest gifts to charity all these kind of things. You add them all up and there let's say fifteen thousand six hundred dollars. So that will go down instead of the standard deduction. So in actual reality you're not getting 100 percent of the value for that mortgage deduction and those other itemized deductions. So stick with me here and I hope this makes sense because you would have gotten twelve thousand six hundred anyway. And now for all of those itemized deductions you're State local tax your mortgage interest your charity etc. etc. you're getting fifteen thousand six hundred deduction in my hypothetical. So you're really the change. The increase is only $3000. And now the value of that is your marginal tax rate. So let's say it's 25 percent. So it's $750 is the additional deduction that you would have received because you had all of those itemized deductions. And again because that's the difference between your standard deduction which you get automatically just for breathing and your itemized deductions which are all these things that you had to get so in this case these people have almost $16000 worth of itemized deductions. Probably the vast majority of them come from home mortgage interest and the actual benefit to them are an additional is an additional $750. So that is a tiny tiny tiny little fraction of the fifteen thousand six hundred. As I've shown here and that's four point eight percent of those standard of those itemized deductions is is the actual additional benefit that you earn. So you know Jonathan's example of the 25 percent is way overblown. So Jonathan did that makes sense I know that.
2735 - 2737 Jonathan Mendonsa So you are saying I'm getting a 5 percent sale on pants.
2737 - 2740 Brad Barrett So you're telling me you're getting a 5 percent.
2740 - 2745 Jonathan Mendonsa So that's garbage I want to leave that on the rack.
2745 - 2784 Brad Barrett Yes so the only people that would get the full benefit of that is if they had just a ton of other itemized deductions so people with a lot of state taxes people with high incomes really. So if you or other itemized deductions are over the standard that twelve thousand six hundred and then you had mortgage interest on top of it you could make the argument at least though some math people would look at this differently but at least you could make the argument that you're getting 100 percent of the benefit of that mortgage interest deduction but still at your top marginal rate. Right. So at most it's going to be 25 28 percent 33 percent of you're making just a ton of money. You know so. So yeah hopefully that makes sense everybody.
highincome, tax
2784 - 2849 Jonathan Mendonsa OK so for those of you that were holding on to your home for that singular reason that is a great point and if you want to flush that out on paper we are going to link to Juan's article over finance clever in the shownotes. So definitely go check that out. If you want to get the showboats in your inbox each day. Definitely get on our e-mail list you can go to choose FI dot com slash subscribe. And that'll set you up to get on our e-mail list. One kind of contrarian point that comes to mind Brad is what about for the people that want that are kind of in this income bracket work could go either way. And you do want to optimize that. I'm not talking about paying off your mortgage deduction versus not paying it off. But let's say you really want to game this thing out I feel like it's worth. We mentioned the hack several months ago that I think it's worth bringing back out in this conversation because it's one that no one talks about. And you can do it and I think even Chuck Chuck with Lorre and she vowed that it is possible to basically alternate one year to do the itemized deductions and basically double down on everything. And then the following year just to do the standard deduction which gives you the best of both worlds have you have any further thoughts on that after that idea is kind of simmered around for a little bit.
2849 - 2912 Brad Barrett Yeah I mean I don't have anything extraordinary to add to it other than that I think it's an interesting strategy. I think realistically you're not going to be able to do that with much more than gifts to charity. I think I think that's the low hanging fruit. You know Jonathan I know that can benefit you because you do give a lot to charity you know potentially to your church and places like that and are thinking about donor advised funds. And all this kind of stuff. So that's something that timing would actually make a difference so if you could give that gift for the next calendar year but just make it a couple of days early. Right. Just make it on December 28. That doesn't make any difference to you because cash flow at that point when you're at FI when you're fI of you're pursuing FI you can make decisions based on the economic value of it and the intelligence of the decision as opposed to that deprivation mindset of just do I have the cash right now. So for someone like you you can make those big gifts to charity all in one year make two years worth in one year and then really reap the benefits. So I think that's that's a pretty cool strategy for sure.
2912 - 2928 Jonathan Mendonsa I love that I love that at every level that appeals to me from top to bottom. I'm just exploring how I'm going to be doing this going forward. But that's the game plan I'm going to use and I love the fact that the mortgage deduction. You know it's just a 5 percent sale on pants. So I'm totally willing to leave it there. Definitely go check out Wan's article. It is really good.
2928 - 2942 Brad Barrett All right so going through the feedback from the audience we got an e-mail from grumpiest Maximus. And now I had to read this just by sheer virtue of the name. But it is a it is a very helpful piece of feedback but yeah. Grampa's Maximus Come on you can't.
2942 - 2948 Jonathan Mendonsa You need to go reserve that Twitter handle right now if you haven't already. Like that needs to be locked down.
2948 - 2987 Brad Barrett So he said I am a newish listener and love the show. Your Friday around him to the best. I heard your comments this week which was last week's episode and the need for a good retirement calculator and thought I would point you in the direction of Dero Kirkpatrick's Web site. Can I retire yet. Dot.com. He made an analysis of retirement calculators one of the cornerstones of his blog and book called Can I retire yet Dero's book and JL Collins' the simple path to wealth. are my two textbooks for plotting my own course to financial independence. I think you guys should take a look at what Darrell has done in regards to calculators and making good calculations for early retirement. It will help you and your listeners. Hope this helps Grumpus Maximus.
2987 - 2990 Jonathan Mendonsa Yeah I love that. Brad did you get a chance to go check out those calculators.
2990 - 2996 Brad Barrett No I didn't but we will link to it in the show notes and I'll check it out. Along with the audience.
2996 - 3016 Jonathan Mendonsa And also if you remember money get a game give us that tip about the escrow account basically not using escrow to pay your homeowner's insurance and if you could separate that out how you could then capitalize on being able to pay your property taxes and your homeowner's insurance yourself. And there are different ways to manage that. We actually had a community member do that and we wanted to play their feedback now.
insurance, tax
3016 - 3100 Chris - (voicemail contributor) Hey guys this is Chris Miller and I just want to give a shout out to Noah for his voicemail last week. Thanks so much for sharing the mortgage escrow trick Noah. and Awesome timing too because my mortgage company just raised my payment because my property taxes went up and I had no idea you could separate them mighty PITI. So right after I finished Listening to the podcast I called my mortgage company found out I do qualify to remove escrow. So next I check to see taxes and insurance can be paid with a credit card. Guess what they can. Insurance is easy. However there is a 2 percent convenience fee for taxes. What I've found out and said One point to 5 percent savings account and also set up a $300 bonus checking account and that's going to take care of that 2 percent credit card conveniance fee for a few years. I'm thinking about my tax bill and insurance is going to add up to over $3000 a year which is my typical minimums and requirement on a travel or credit card. In other words I'll be getting the equivalent of a couple a round trip plane tickets out of this every year now including the travel rewards. That's easily a few hundred dollars savings in a year. So thanks again and thanks Brad and Jonathan for sharing his tip on the podcast. You know Facebook is great but I don't think I have found this if I hadn't heard on the Podcast first. Keep up the great work guys and we love what you do.
insurance, savings, tax, travelrewards
3100 - 3191 Brad Barrett Yeah. CHRIS That is just awesome. I can hear the excitement in your voice. It's fantastic. And that's the exact kind of thing that we get excited about here in the FI community right is diving into this stuff finding life hacks figuring it out and and just the analysis that you put into it is awesome. So not only did you mean you came out with hack after hack after hack right the online savings account the $300 cash back and then the credit card rewards points which you had absolutely perfectly. That is enough to hit a minimum spend on a huge travel rewards credit card and get a big bonus. And as you said easily get you a couple of roundtrip tickets or could get you a probably around trip ticket to Europe or South America or something like that. I mean that is potentially worth thousands of dollars just by being smart. So Noah's comment was perfect and I think a lot of you out there should take note of what Chris said and try to replicate this in your life because it's a big win on something that theoretically could have been pretty small but it's going to amount to thousands of dollars saved for Chris. And yeah just just a note as you all know we love travel rewards here and the transformative power of being able to travel the world nearly for free. And we have a really great resource with our podcast episode 9. So that's just choose FI dot com forward slash 0 0 9 or our entire travel rewards section on our site. We have our top recommended credit cards. We have a bunch of articles. So yeah that's really useful information which you can get if you've got to choose FI dot com forward slash travel.
lifeoptimization, savings, travel, travelrewards
3191 - 3237 Jonathan Mendonsa Alright guys are you are you getting the feel for why the Friday roundup is important to listen to everyone. Obviously you can skip around. But if you constantly want to know what you don't know so that you can do more research. That's the point of this. This is a place that instead of Brad like constantly having to go out and find new ideas they're coming to us and then we can then share them with you and then we can go learn more about these concepts and implement them ourselves. That's what this is. And so we played that one last week talking from Pastor FI an awesome moniker by the way talking about house hacking in college and we have some feedback from Steve wanting to fill in the blanks of another thing that you would want to consider if you decided to fill up a house with a bunch of college students.
college-loans, househacking
3237 - 3276 Steve - (voicemail contributor) Hi this is Steve from Arkansas. On the twenty six R episode of the parent that rented or bought a condo for his student son and had him be property manager and rent out of their rooms. One thing keep in mind if you do that as the owner of that condo you are legally responsible for any kind of liability accident that could occur there which is not a big stretch. Thinking about college kids unsupervised what could happen. You better have a big umbrella policy because anybody that gets hurt during a little too much or anything else on that property. You would be on the hook for that. That's a great idea. Insurance is there but you really need to make sure you've got it. Great show appreciate taking time to listen to me.
college, insurance
3276 - 3359 Brad Barrett Again just to add to that conversation about umbrella insurance policies and the importance of them. We had an e-mail from Tiffany who is a lawyer and she said one thing I did want to mention that it's come up in several of the shows including The most recent one about the true costs of car ownership so we actually got this e-mail about a month ago relates to insurance although it seems to me sense to drop comprehensive coverage on older cars and just stick with collision insurance it might actually make more sense to keep the comprehensive policy. This is because as FI approaches it is increasingly important to protect your investments. And one important way to do that is through umbrella insurance policy. These policies provide extra liability coverage above the limits of homeowners renters and auto insurance. But a lot of umbrella insurance policies require comprehensive auto insurance as part of the policy. So yeah this is a really solid comment from Tiffany and she did give me some more information on umbrella policy and she says they're quite quite valuable. And I know personally they are very inexpensive. You can generally get somewhere in the vicinity of like a million dollars worth of coverage for about 100 to 200 dollars a year. I think I pay 150 currently. So it's minimal amounts of money for a significant amount of insurance to cover you in case something absolutely crazy happened. So yeah definitely something to consider for sure.
insurance, umbrellainsurance
3359 - 3472 Jonathan Mendonsa That's great feedback. All right guys this show has to come to a close. Unfortunately we have one final tidbit to go ahead. and offer you here for those of you that were extremely excited about the concept of ESPP using your employee stock purchase program to get ahead on this whole thing. We did a follow up talking a little bit about taxation but I want you to know that while we introduce that concept can from the option to sell Dotcom has really mastered it and turned it into a replicable process that you can crush even if you don't have $25000 that you want to put into this program. He has ways of actually doing it with smaller increments and basically doubling his return and compensating for the tax using call options. Frankly this is like master's level stuff. This is somebody that's figured out something that I haven't figured out and I would not be able to coach you through this the way that he has so we're just going to link to this in the show notes. But if you are considering using your ESPP I highly recommend that you take a few minutes and go through the show notes and go to Ken's site and check out this latest article which will walk you through how to use call options and how to take advantage and win. Even with short term capital gains and long term capital gains being built into this whole scenario at the end of every show we'd like to share just some feedback from our community that's come through in the form of iTunes reviews. We do a drawing every week for a copy of JL Collins book the simple path to wealth and to enter that drawing all you need to do is just take literally one minute and you can just go to choose FI dot com slash iTunes follow the link leave us just a short written review. And frankly you can do it on stitcher too. We appreciate you either way we've really made the focus. ITunes because that is the way that we can get this podcast in front of more people. But if you're willing to leave us just a short written review just send us a message and you can do that. At feedback. at Choose FI dot com let us know that you've done it and we'll enter you in a drawing every week to win a copy of JL Collins book. This week Brad we have two winners. Did you want to go ahead and announce the first one.
ESPP, tax, testimonial
3472 - 3512 Brad Barrett All right the first winner is Emily and Emily said. This podcast has been amazing. I binged the older ones and in a week or two and I've loved having a new episode at the beginning and end of the week the guest from on the show give insightful information to challenge and change your typical ways of thinking and living. Choose FI has a little info for everyone to be able to apply it to their lives exactly where they are right now financially. If you're looking for motivation to get out of living paycheck to paycheck or working a job you just don't like then the idea of financial independence. And this podcast will lead you to a life you can enjoy plus. Who wouldn't want to travel for almost free travel rewards Infomania. All right here click the play button. I dare you.
travel, travelrewards
3512 - 3513 Jonathan Mendonsa That's awesome.
3513 - 3514 Brad Barrett That's cool.
3514 - 3553 Jonathan Mendonsa This last review was from Eric and he said top FI podcast bar none. That ChooseFI guys are awesome so relatable and easy to understand. Brad and Jonathan are a fantastic duo that put out top notch podcast one after another. Whenever another pops into my Feed it's the next one that gets played. Do yourself a favor. Subscribe and listen. Personally I would recommend starting from the beginning as I did. Since there are so many life changing topics I'm not kidding. See for yourself. Eric thank you so much for that feedback. You are the lifeblood of this show. And without you guys there is no choose FI. So thank you for being a part of this. And the fire is spreading my friends and we'll see you next time. As we continue to go down the road less traveled.
Jonathan_Catchphrases, testimonial

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