033R - The Friday Roundup

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0 - 18 Jonathan Mendonsa Alright and we're back. Welcome to the show guys. This is your weekly Friday roundup. Frankly I don't think I've been more excited to sit down and actually get to chance to do one of these because Monday's episode was so ridiculously awesome. And to help me with this episode today as usual I had Brad Barrett here with me in the studio. How are you doing buddy.
18 - 32 Brad Barrett I'm doing really well. Jonathan Yeah this is a good week all around for ChooseFI we had our first local meet up here in Richmond. And like you said Monday episode as you would say it was a game changer. It was just a wonderful person. Yeah I really can't wait to talk about it.
32 - 123 Jonathan Mendonsa Man I was so thrilled that we actually got a chance to make this happen. Especially cool that we had Sean. He was actually able to drive down from D.C. a bunch of our local community was actually able to participate and do this with us very exciting and hopefully we'll be able to do this again maybe expand this out some other areas in Virginia maybe do one in NOVA D.C. I'm very excited about where this could lead. And back to the episode at every level it expanded the framework and I think it kind of gives us a basis to work from going forward. And I think in the FI community we have known why we're saving that was the that's a big difference. Before Fi not before Choose FI but just before fi in general there were saver's and then they were not saver's but even the saver's really didn't have a way of explaining why they were putting all this money aside and so they maybe got labeled as cheap or frugal or weird. You know one of those different things FI gives you a way in elevator speech to explain it. I'm buying my freedom and it's powerful and it carries weight. But along the way with FI that the whole point of FI is that you become intentional with your financial decisions and that intentionality allows you to purchase freedom in your 30s 40s and 50s that everybody else is experiencing after the age of 65. So very very cool stuff but the underlying current that behind all that is this concept of intentionality and you don't need to limit intentionality and mindfulness and focus to just your financial goals. You can expand that to every single aspect of your life and what if you did what if you actually recognized that the best days of your life are still ahead of you. How does that change everything.
123 - 194 Brad Barrett Yeah I totally agree Jonathan and I think my entire focus behind this podcast aside from. Clearly the financial aspect, it's always going to be a personal finance site At its core, but to me it's it's this life optimization concept that's what fi is to me. It's a continual effort over months years decades to just get better at life to truly just make progress and work towards goals to live a happier more content life. And I think that is what my focus has always been and what was cool was we actually received a iTunes review from a quote unquote 30 year old primary care physician who just started thinking about fire. And one of the things they said was not only are these guys throwing out invaluable financial info but they're even giving solid health and wellness advice. I love their comments on decision fatigue American eating habits and family health. Keep it up guys. And now it's just such like a nice little piece of feedback that I really just didn't expect and just something little like time makes makes me realize we are definitely on the right path here. We're trying to just make people think about their decisions in life and just work on being content. Work on as Jonathan said being intentional and just live a happier more balanced life.
families, health, testimonial
194 - 326 Jonathan Mendonsa One of the concepts that really struck me was and he mentioned it was the happiness index. And essentially what he said was let's say you have two individuals let's say you have Brad Barrett and you have Jonathan Mendonsa and Brad Barrett achieves this certain level of happiness he achieves 100 percent happiness at a lifestyle that cost him a hundred thousand dollars a year and Jonathan achieves his level of happiness at a lifestyle that only costs $50000 a year. What that means is that happiness is twice as expensive for Brad as it is for Jonathan and that happiness index is something that in the FI community you ought to be able to appreciate because what we've said there's so many different ways to reach FI. But one of the things we do is we first look at what's actually adding value to our life and we decide whether or not what everybody else says you have to have we decide whether or not those conventions make sense for us and then we start peeling away and making our life more efficient reducing waste and essentially finding out what it is that actually makes us happy which essentially makes our happiness index less expensive. So we get more happiness for less which means every additional thing that you add back in brings joy to your life. Imagine the person that makes $200000 a year and they work 60 to 70 hours a week. They get one weekend off a month and maintain their happiness. They use that income to buy a speedboat and to buy the time shares. But they only get access to the speedboat and the time shares once every two to three months and they're paying to have it maintained. They're making the payments every week for their 60 or $70000 car. And they have to stay in the 60 to 70 hour work week every single week in order to maintain this lifestyle that they only get to use for one to two weeks out of the year. And so for them to achieve a level of happiness they have to buy something really crazy. They have to do something very expensive and extraordinary just to get that little bit of thrill. Imagine the person that have slightly different choice claws all their time back and they don't have the speedboat they don't have the 60 or 70 thousand dollar car. But they have time to enjoy the things they have and if you can just look at that framework objectively get yourself outside of that picture and realize you want every dollar that you make the choice to spend. To give you more happiness to go farther. We're trying to make every dollar that you spend more potent and help you get more happiness for that buck. That's what it comes down to.
326 - 428 Brad Barrett Yeah I love the larger framework of that because I've built a life that after we pay off our mortgage our life costs about $30000 a year. And we think that we live this really decadent upper middle class lifestyle but yet we just don't spend that much money. But think about the flexibility that that affords us. Right. So $30000 a year is really not very much in the grand scheme of things especially if you don't have to save additional money on top of that we're saving now. We're at a point where we have income we're saving significantly to the tune of 60 to 70 percent of our income and we're stocking money away to create this perpetual money making machine as our friend Joel from FI 180 called it. So that is the ultimate luxury right we're saving and saving and saving to get to some point. Let's say a million dollars just for argument's sake right. Nice round number that million dollars sitting in a pod is essentially a perpetual money making machine that spits off $40000 a year. If you use the 4 percent rule. So by US supposedly depriving ourselves and that's that said as tongue in cheek as possible we are creating this money making machine that will last hopefully for the rest of our lives. And that to me is the ultimate luxury because it provides us time it provides us flexibility with our lives. And I don't think I'm giving up anything. Frankly I think I live this life of abundance and decadence and it allows me to focus on the important things in life that allows me to focus on my children and my wife and my friends and doing things that I enjoy and spending time with these people. So I mean to me that is the ultimate luxury in life. And FI helps provide that.
428 - 555 Jonathan Mendonsa The other thing that was really interesting to me is. I actually went on to Dominic's Web site and on his website there's a lot of fun facts you know about him and about his journey and the things that he's trying to accomplish the things that he's striving for things that he's already done and on their it mentioned down at the bottom that he has spent over $28000 in this year alone on personal development. Now you know me we're here talking about Brad's life. Brad's life cost $30000. Dom has spent $30000 on his personal development so far this year. This is hilarious one because our fi community in general we talk about reducing lifestyle so there's a contrast there. But you know Dom has never made this pretense of saying you need to model yourself after my individual choices. He's not in the FI community but he's unintentionally FI. So he will be just fine. I have no doubt about that. And I'm not telling you to go spend $28000 on person development but I would like to challenge our audience with. Have you spent any money on your personal development this year and forget money let's take money out of it. Have you spent any time on your personal development this year. Do you think that your person is worth developing. I mean that's a challenge for yourself now to some degree if you're just questioning yourself on what to put yourself at ease. You're spending a lot of time listening to this podcast so you do care about your future and I want to give you credit for that. And if you're listening to us you're spending a lot of time on it but taking action is that next step once you get out of your car on the way to work or once you get home. Have you put additional time into developing yourself and there's so many different ways to do that. And frankly I think we're exploring a lot of those. There's your health and wellness. There's your relationships with your family and then there's your financial future. And when you consider the fact that there are an infinite number of ways to improve the person that you want to be. Life gets more exciting. And what if you realize that there is an infinite number of things that you don't know that you don't know. And what if every single day you could learn just one additional piece of information that you could implement one simple step that you could take action on that would get you closer to being the best version of yourself. That's a powerful and it's inspiring and it goes back to this idea that your best days are ahead of you. They can be. So what's the one thing that you want to do this week. What's so what's the 30 things you want to do this month or what's the 365 steps that you want to take this year.
health, relationships
555 - 852 Brad Barrett Jonathan I love that it's just so powerful and your best days really are ahead of you for all of us. And it's it's that intentionality and it's that focus on just getting better. And Dom spent $28000 I can't imagine I would ever do that in a calendar year. But but I respect his choice and I think I lately have seen the power of spending money on yourself to direct it where you value. And I think that's a word that I love to talk about and we've coined a phrase in the past called the Valueist and I don't believe I'm frugal. I don't believe I'm a minimalist at this point. I believe that I'm a valueist and I direct my money and my resources where I value. So lately we've talked to times of me trying to get in better shape and talking about I joined cross-fit recently which is something that I always laughed at because it's ridiculously expensive and I frankly thought it was absurd that people would spend that kind of money. But now that I'm I'm made that value choice to join and I'm absolutely loving it. That to me is money well spent. And you know I might reassess that at some point in the future. But as of now that's that's where I deem that my resources are are valuable. I have also I spent money to go almost a thousand dollars to go to Dominics retreat earlier this year and that was the best money I ever spent. And I would not hesitate for a second to do that again. And you don't have to spend money. I think I looked up at one point there are these meditation retreats and I don't want to go down that rabbit hole right now. But even one here in the greater Richmond area I believe that it is free. So I mean there are there are things to do to improve your life for $0. Right. There are always different things you just need to spend the energy finding what you value again. So personal development doesn't need to cost money. It can cost something if that's where you deem fit. But it doesn't have to. So I personally downloaded the headspace meditation app and that is free. They have like a 10 day intro course and you could just replay that on loop every single day for the rest of your life. Those are ten valuable minutes I spend every morning listening to that you can listen to podcasts and not just as I've mentioned before I think the Tim Ferriss podcast is absolutely essential. I have recently come to believe that the impact theory podcast is essential as well and I know Dominic mentioned that that's probably the best way to cultivate a winning mindset that I've ever found. The gentleman Tom BILYEU who's who runs impact theory is just brilliant and I love his outlook on life and he has a list of 25 books that he recommends reading in order to cultivate a mindset for a positive life and we will link to that in the show notes. And I recommend just grab some of those books from your library and just just do something that makes your life a little bit better this week. Jonathan was mentioning before. I think we always want you to take action from this podcast. That is our key. So what I want to set up is a challenge for everyone in the audience this week and every week hence make one change in your life that will make it better. OK that can be financial. That can be health that can be relationships anything it can just be saving 30 minutes by going to the food store at 6:00 a.m. instead of 2:00 p.m. on a Saturday. Just do something that's going to make your life more efficient less busy. Dom talked about that article the busy trap and a lot of us walk around with this like humble brag of oh I'm so busy when I find myself saying I'm busy. I want to slap myself across the face because it's ridiculous right it's like we've come up with this societal construct that busy is something that's good. And I reject that entirely. I don't ever want to be busy. I want my life controlled. I don't ever want to be beholden to these forces of business. I direct my time. I get 168 hours in a week just like you do. And I direct my time how I see fit. And there are ways to help mitigate that business but you need to take them. You can't just sleepwalk through life as again Dominic talked about 95 percent of our actions behaviors thoughts are just habitual they're built into this loop and we don't try to break these habits. We don't go for the intentional awakenings that Dom talks about. But you need to disrupt those patterns. You need to and just and again that's my challenge and please our community on Facebook is growing by leaps and bounds. It is the most vibrant Facebook group I've ever seen. Join the Facebook group choose FI dot com forward slash Facebook and I'm going to have a thread every single week for this challenge. So it's one thing that makes your life better this week. And you're listening to this on Friday. By next Friday do one thing. You have 168 hours to make one thing better in your life. But man when you do one thing a week 52 a year. Five hundred and twenty in a decade I guarantee you your life is going to be dramatically better. So that is my challenge to you.
library, meditation, mindset, relationships, valuist
852 - 854 Jonathan Mendonsa You want. You don't know what I did this week.
854 - 854 Brad Barrett Of course.
854 - 869 Jonathan Mendonsa I got I added carrots back to my diet. And then this was really crazy. This was a huge stretch for me. I ate salad without salad dressing. I mean I felt like a cow. But yeah it was it was a huge stretch for me.
869 - 870 Brad Barrett Hey but that counts right.
870 - 1104 Jonathan Mendonsa It does. I had a buddy that was telling me he did this and this guy is just ripped and he's not just ripped but he also stays very lean throughout the year which is frankly that's the hard part. It's not just getting in good shape it's staying there. And I said man what are you doing. Because I eat pretty healthy I have for a long time. He said he ate salad with all salad dressing and I looked at him like he was an alien from Mars and I said you did what. And so I literally sat on that idea for like two months that's impossible. Nobody does that. That's crazy talk. I tried it yesterday. And why I'm not telling you that it is awesome. I did it. There's a sense especially after you've been eating clean for extended periods of time and you kind of kick the sugar addiction that we all have been victim to at some point you do start to develop new taste buds and appreciate new things. And yeah man added carrots and salad without salad dressing. I feel like I've stretched myself this week. That simple little thing. So my point there is this does not need to be this huge monumental task like doing a retreat. Brad is just suggesting that the status quo is not OK and we don't care what that looks like for you. You have an infinite number of choices but pick something. Do the 10000 steps and actually can we just take a second and talk just for a second about the rabbit hole of meditation meditation almost is this buzz word that immediately either look towards it or you look away from it depending on your own maybe biases about that word. And I think it's interesting that every single religion in the world and atheists and agnostics all in some way shape or form see the value of meditation and you know I'm not going to dig into that any further except to say forget the word meditation. When was the last time you took a truly deep breath. Why don't you just try it with me just slow down for a second and inhale as much air as you can into your lungs. Hold it for 10 seconds and then exhale slowly. Make that your one thing that you do today and then realize that for the last two months you've been shallow breathing this whole time. Take 20 seconds in free your brain of all thoughts and just give your brain just a second to slow down. In this digital age where you have to check your phone 45 times a day. And when you're at work you're sitting in front of a cubicle and when you come home instead of looking at a book you've got your iPad out as you're spending time next to your spouse because that's what you two have decided quality time looks like take a second right now and just do a deep breath. Guess what you just did your one thing today. It doesn't have to be big. It's baby steps man. You just walk your way to the finish line. Every day you're getting a little bit better. And every day that you're checking in with us our goal is to provide you brain food that you can get excited about and get you a little bit closer to your goal. And you know what. Imagine a future in which you've hung in with us for 10 or 15 years and during the process you've increased your savings rate from a negative savings rate or maybe a 4 percent savings rate all the way up to a 10 20 30 70 percent savings rate. And because you hit that savings rate you are able to go from the standard working career which is a 40 or 60 year career where you don't stop until you die or until Social Security kicks in. And instead you are able to cut that down to a 20 year career. Or you're able to hit your financial independence number after 10 or 15 years on top of that your relationships have improved. For two reasons really one because at some point you got FU money and your family stopped playing second field to your job and to the always pressing requirements of your never ending to do list and to because you've been willing to dedicate a certain amount of time and how you just interact with other people and stack on top of that because you became intentional with your health choices you were able to trim 20 pounds or 40 pounds from around your waistline. That is the perfect story and it's a story that I want to be a part of and it's a story that I want to empower you with to take action and reclaim your life. So Brad I've given them my simple approach which you know I'm telling you to do this this is me talking to myself as well. I realized that I'm a shallow breather that basically goes through life always looking for the next thing terrified of that moment where I have nothing to do or to think about. So I'm preaching to myself here. But I am curious I know you have adopted this into your life for the last year or two. I would be interested to know what is your personal practice.
Brad_Catchphrases, health, meditation, relationships, savings, socialsecurity
1104 - 1161 Brad Barrett Yeah that's a great question Jonathan I think to your point earlier meditation probably has this horrible PR rep and you pictured somebody in the 70s sitting there burning incense and wearing robes and just looking comical right and that's kind of we all think it's ridiculous. And I think that is what people think of when they think of meditation. But at this point to what Dom mentioned the U.S. Army has adopted this many of the Fortune 100 and 500 companies have adopted it. The Navy SEALs have. So this is not just like us having some kind of woo woo beliefs of oh you need to meditate. For me my practice is just I listen every morning to the headspace meditation. I've also used the other app called calm. Those are pretty much the two most popular just to mix it up a little bit. I listen for either five or ten minutes and I just lie there and I breathe and I relax and that really is it that truly is meditation. I sit there close my eyes. I listen to the guide in meditation. So there's really nothing to it. It's just close your eyes and breathe is more or less what it is.
Brad_Catchphrases, meditation
1161 - 1167 Jonathan Mendonsa I'm going to get that T-shirt made close your eyes and breathe dude. It's going to be OK.
1167 - 1276 Brad Barrett And there's really not much more to it. It's crazy. But you know that sense of calm and to Jonathan's point. When have you taken one deep breath in the last year not less taken five or ten minutes. So just try it. It's really not that hard. Just download headspace press play on day one and listen and car about 10 minutes every day. That's it. If you hate it hate it. And that's it. Laura my wife tried it and it just didn't really particularly work for her. But I personally love it and I notice the sense of calm. I don't have like as they say like the monkey brain of these constant stream of thoughts and you know your internal dialogue it just calms down a little bit. You can create that space. Right. We talked about Dominic between the stimulus and the response because you're just just a little calmer. I don't know how to describe it better it's has kind of joked in the past it's kind of weird when you're talking on a podcast to many many tens of thousands of people and you don't have the words but there there really aren't words to describe it other than just to say I just feel better and I feel more relaxed. I find myself able to be in a situation where I would have gotten angry or agitated or nervous or something and I'm just able to relax myself a little bit better. And I know by just breathing deeper and just focusing on my breath a little bit I think if there was guided meditations on your thing there's a Web site called SEAL fit dot com and that's like Navy SEAL SEAL Fit dot com we'll to share notes. It's a Navy SEAL Commander Mark divine who also has a pretty solid podcast and he talks about box breathing that's the Navy SEALs version of this and that just might be a different version of what you do if you think that maybe that sounds a little cooler than than listening to a straight meditation. But there are lots of ways to do this but essentially you're just focusing your breath and calming down. Simple as that.
1276 - 1367 Jonathan Mendonsa When you realize that you have direct control over the choices that you make every single day when you truly realize that. So instead of constantly being a victim to circumstance and oh woe is me my life my life my life. When you realize that there are things that you can do to regain control from the hamster wheel your life continually gets better and better and better. And it's this idea of intentionality and all these things. I mean do you see how this picture just comes together so beautifully you start with mindfulness that mindfulness allows you to be intentional with the choices those choices that you then make from this platform of intentionality then allow you to make better financial decisions better health decisions and those decisions allow you to get your immediate time back. You're able to then spend time with the people that you love and that you care about. And as a result of you being intentional with your health you have more of it because you're not going to be biting the dust at 52. Your cholesterol is in check your weight is under control. You have control of all of these things. If you choose it and every time you feel like you're slipping into your normal patterns realize that there's a space between stimulus and response and if you can get control over that you can change the response to an infinite number of alternate possibilities. Every time you crave chocolate you're immediate go to doesn't have to be to go for the candy bar. It could be to take a walk around the block. It could be to have a conversation with someone. It could be to learn a new skill. And you ultimately are the one that gets to decide whether or not you're OK with the status quo or whether or not you want to design the future that you want to live into and you want to start today.
health, weightloss
1367 - 1431 Brad Barrett And yeah I mean that gets into what Dominic talked about about what excites you about the future. What makes you nervous. You know as he said What makes you throw up a little bit in your mouth. Right. What gets you excited. Is there anything on your horizon at all that will lead to growth will make you excited will make you a little bit nervous. For most of us in the hamster wheel in the busy trap we don't have anything. Even me I responded to a couple of months ago when he sent that challenge out to us that I really couldn't think of anything and that might have just been a lack of imagination or something or not giving myself enough credit. But but there was really nothing aside from like he talked about the typical vacation and that's great obviously but there's got to be something on your horizon that makes you excited about life and that will lead to that sense of progress and that sense of growth. So to me that is huge and Jonathan for you the obvious thing right was choose FI. I mean we started this what about eight months ago now as was probably when the initial thought maybe nine months ago the initial thought came into being. But think about how much you've learned over the last nine months 10 months whatever it is. It's crazy.
1431 - 1521 Jonathan Mendonsa Yeah I mean I think when we started to show up one of the things I talked about and really I guess you would call it our pilot episode or episode number one was that I had learned 150 new skills just to get it started. And that seemed like maybe a lot. When I was saying that during that episode it's got to be up past five hundred or thousand now just tiny little things that you put together and also things that I learned when I was a teenager that I never ended up using at the time. But I was able to bring back like photoshop skills and learning how to edit a podcast and learning how to create graphic images and learning how to synthesize these really cool compilations for public consumption. When you realized that you can learn these things and you can learn them for free if you want to all you got to do is redirect your time to something interesting. I still to this day do not know how to code. I do not know. HTML That has not stopped me from building this with Brad essentially from scratch. You just have to be willing to be a little creative spend the time researching it finding people that can mentor you through the process. And frankly Yeah this was my this was my little bit of a nervous thing you know. It made me want to throw up in my mouth just a little bit because I'm taking all my thoughts which are not original thoughts they're things that have inspired me that other people have talked about but I'm putting my own take in spin on and holding out for public consumption it along without is going to come some criticism. Is that something that's going to make you slightly nervous on how you'll be judged for these thoughts. Yeah absolutely. But no risk no reward. By putting it out there being willing to take criticism and then learning from that or maybe just discarding that but being willing to put those thoughts out there I'm having my Christmas morning moment almost every single day. This is my passion.
1521 - 1584 Brad Barrett Yeah it sure is. And you know just talking about criticism for a second about it like that something you put yourself out there and I mean you personally had no experience with having a blog or website or a podcast. And I have for a couple of years so I'm used to a little bit of that negativity but right the first time that we got a negative comment I think you were shellshocked right. It feels terrible. And that's even though we get probably ninety nine point nine percent positivity and it's amazing and we appreciate the outpouring obviously but but it's still you're still a human being. And when you get some type of criticism or like you talking about last time somebody wanted to punch you in the face you know Madonna on an iTunes review like that hurts as a human being. Right. This is not some anonymous thing for us. This is you and I talking as normal people and we are just like we are say we're just regular middle class guys from Richmond Virginia not doing anything crazy right. We're just sitting here talking and trying to help people and you know it does hurt. But that's that's part of the learning process. And while that may make you nervous that may make you frustrated. It's part of the deal.
1584 - 1630 Jonathan Mendonsa And the just the fact that you get the highs and lows that come along with it remind you that you're alive. You know that you're not that's. That's better than just drifting space where you can't feel anything. You're just passing through this 30 to 60 year timeline that is your existence and you move off into the void and then it's whatever's next. You're alive you can feel the highs you feel the lows those emotions are real and they're useful. And I will gladly take the criticism. I hope that it is minimal. Nobody likes to be criticized but absolutely I do not feel like I am drifting. I do feel like my life has a purpose and that I am working toward something. And I just wish that for everybody that in whatever manner or shape that looks like that your life has a purpose and if you don't know what that purpose is yet I hope you're at least willing to put the time in to discover it.
1631 - 1778 Brad Barrett And one other thing that definitely stood out to me from the episode was Dom's discussion of guilt. Right. And he said he saw so many people in his life who said Is there more. Did I dream big enough and they had this sense of restlessness and guilt for not feeling grateful enough and for really wanting more in their life. And I definitely relate to this on a very personal level because I have what I believe to be the perfect life. I never dreamed past here. To use a quote that we said a couple of times in the show and this is my perfect life. And still from time to time there's that sense of did I dream big enough. Is there more. What else could I do that would excite me that would challenge me. And certainly this podcast is one of those things. This was a huge departure for me and I'm a natural introvert and now being I guess a more public figure is definitely something that has challenge me greatly and now going to camp mustaches where I'm a speaker or fin con where we're going to have a documentary film crew follow us around. I mean these are huge weeds that I can grow personally and it's something that would have scared the heck out of me if you would have told me this. A couple of years ago I would have thought it was laughable. Right. When I was sitting in an office three years ago doing tax returns. It would have seemed absolutely laughable. But this is where I am now. And I'm trying to grow as a person every single day every single week. And you don't have to feel guilty about that. As Dom said. He deals with a lot of quote unquote high performers. That's kind of the people that he coaches generally and certainly his message is not limited to those people but he finds that a lot of them have reached their sales goals and their fortune 100 companies they've done everything they could professionally that they ever dreamed of but they still want more and they find themselves feeling guilty about it. You should not in any way shape or form. Humans are meant to see progress. That's what that's what gets us alive. And also as we talked about your personal connection I think we need to shift the focus of what's important in our lives. Right. It's not about just this continual I need to do better at my job that that's not the be all end all of life. To me it's about connection with people that you genuinely enjoy spending time with who challenge you who help you grow. And just this overall sense of progress working towards something. It can be something as simple as I've kind of joked how I was not in very good shape. A couple of years ago I was terribly inflexible in my entire life. I literally couldn't touch my toe as silly as that sound I was always an athlete a soccer player.
Brad_Catchphrases, fincon, tax
1778 - 1780 Jonathan Mendonsa They're all going to laugh at you.
1780 - 1837 Brad Barrett It's ridiculous. I mean but I have worked on that and it's stupid. I'm a 38 year old man but I'm working on becoming more flexible. It sounds silly when I say it out loud but it means something to me. That sense of progress that sense of of working every day to just make myself healthier and I spend an hour every single day on flexibility and mobility and just trying to just keep my body in shape hopefully to live to 100 or after that right as Dom talked about in his eulogy I think he wants to live to 121 so he can see the year 2100. So that's a cool thing and that just doesn't happen. Right. You need to actually pay attention to your body and keep yourself healthy not smoke two packs a day and drink tons of alcohol and eat horrible food. You need to actually focus so to me. I know that's kind of an aside but it's an important aside. So yeah I mean that's kind of a long winded way of saying like progress is just so important in life.
1837 - 1843 Jonathan Mendonsa Brad I was thinking about it. Should we get Spike real the voiceover guy to do Dom's eulogy and give it to him as a Christmas present.
1843 - 1844 Brad Barrett That would be so awesome.
1844 - 1852 Jonathan Mendonsa And we'll put it on the show. Nice. OK. All right. Dom If you're listening to this we're going to get the voiceover guy to do your eulogy. We're going to play it on our Christmas episode. It's coming.
1852 - 1950 Brad Barrett I love it. I love it. And yep Dom's Dom's Full eulogy is in his book which is called design your future. And we mentioned this at the end of the podcast episode 33 but this is just a really beautiful book. I kind of get into this like when I go to a Barnes and Noble or something and just kind of flip through books certain books just appeal to me like you flip through and you're like wow that is just a well designed well edited book. And there's just something like this was my first piece of feedback for Dom So it just makes me want to read it. It's a beautiful beautiful book and it's an easy read it takes you a couple of hours. But man it's an impactful and I know we've had a bunch of people say just in the last days since the episode went live that they already bought the book and they're eagerly awaiting. I know my mom has read it my wife has read it and you can definitely get access to this Dom gave our community special early access to it. I think it's being officially published later in the year. But for people in the ChooseFI community you can get early access to it if you just head to choose FI dot com slash design. So the book is called design your future so choose FI dot com slash design and I'll send you over to the pertinent page on Tom's website to purchase it. So yeah while we generally recommend taking books out of the library you know I'm not a big spend money where you don't need to. This is one of those books you want to get in your hands it's something I've already read twice and I plan on reading a couple of times a year just to just to bring me back to these thoughts and making myself aware of these patterns that I that I get caught up on. And we all do even when we're intentional about life you still need that reminder. So to me this is money well spent. And I would definitely highly recommend it.
1950 - 2052 Jonathan Mendonsa Yeah and I happened to see a copy of Brad's very well highlighted in red book. He's one of those people that actually uses four colors of highlighters. When he's reading a book I've never actually met one of these people before but Brad decided that it wasn't good enough to have two or three colors of highlighter. But he went ahead and used the entire rainbow. The final point that I wanted to hit on with this was this idea of limiting beliefs. And we touched on this in the episode. But I think it's important to dig into this and realize how powerful this is. Let me give you an example. And I think this is out of the book. You're a teenager. You're giving a speech for class and it just goes south and this is maybe one of your first really big ones and you just tank it and you get through it. You come to the end and now you're like man I did a really bad job on that speech and now you just believe as a result of that that you're just a bad speaker. It becomes this internal belief that you operate from for the rest of your life. You never analyze that and say No I didn't prepare for it. No. This is how it went wrong. Or this is how I could compensate for. Your belief is I am a bad and then insert the blank here. Imagine how that can dictate the environment in which you find yourself in the way that you interact with the environment. Over the next thirty or forty years and you step away from it for a second and realize how stupid that is and how you could insert a new set of beliefs right into that that says No I actually could be a very good speaker. I would just need to do this this and this and I would need to put myself in these three or four different situations. And if you were able to intercept in between that space between stimulus and response and you were able to insert a new belief system into that I am a fantastic speaker. And forget speaking it could be anything. What if you could undo that just by being intentional and realizing that that false belief was limiting in your future.
2052 - 2115 Brad Barrett Yeah I love that and I see this all the time with these limiting beliefs just even in my own head in my family. And you know you hear them all the time. Right. I have a bad memory or I'm bad with names or some story that you've concocted from your childhood that you believe that to be a fixed personality trait. Anytime you find yourself saying I'm bad at or I am X Y and Z you really need to dive into that and say Is this some kind of limiting belief that I've always lived with. And is it actually true or are there ways that you can disrupt that right like that is what you need to do when you find yourself. And I say this all the time and I use it as a crutch because I don't necessarily believe it. I have a bad memory. That's something that I've concocted that that's entirely true when I actually reflect on it but I find myself saying and it's just so silly it's a story that I've built up and I need to break it. Right so I'm sure that if you are really conscious about this over the next week you'll find yourself with a handful of these limiting beliefs and just write them down.
2115 - 2201 Jonathan Mendonsa Here's another one for you. Obesity runs in my family. If you're just going to analyze that at face value that says that you have no control over that situation that says that your weight is totally out of your control. What if it wasn't what if it was a series of choices that you were making for years decades without even realizing that you were doing it because you were just following status quo. And it led to a certain outcome but you realized by intercepting that space that you have the ability to make radically different choices and you don't need to do them all at once but you could make slow steps over time you could cut out the sugar water or the Coca Cola you could do smaller portion sizes you could slowly replace these heavily processed foods. And I think Tim Ferriss said it best out of the 44000 some odd options that are in the grocery store. There's about 100 that won't make you fat. So what if you realized that you have these choices that you could slowly insert and you could dictate this new direction for your weight and for your future. That's a belief system that people just assume they have no control over and it's just not. I mean I'm not telling you that you need to do anything with that right now but let that idea simmer for a little bit. Let marinate like Dom said and consider the fact that there may be limiting beliefs that you have never even realized that you've latched onto and just go explore everything you assume about yourself and then take a hard look at it. With this episode in context is there something that I hadn't considered.
2201 - 2286 Brad Barrett And you know Jonathan it's funny that you bring that up because that's intensely personal for me because we do have a history in my family of many people being overweight and I know my brother Scott and I are both in the best shape of our lives right now. I think people would see us and say where we're pretty fit and it's because we've done exactly what you just described. It's small steps over time. I used to eat like crazy because that was just part of our culture. That was part of our family culture. To just eat until the food was gone essentially and it was always fine because I was always a soccer player and I was never overweight. But but I wasn't in the shape that I wanted to be in. I mean I and I kind of look back on the portions that we ate even when we got married 12 years ago at this point it was ridiculous and we've we've just made little little changes over time and it added up for both of us to not only a healthier lifestyle and slimmer more fit bodies at this point but frankly it doesn't cost as much. We've talked about this on past episodes where we say that we spend about $2 per person per meal on our dinners and these are home cooked delicious meals as good as anything you're going to get in a restaurant if not better and certainly healthier. And so you know I've had friends joke like oh $2 a meal like what are you eating like spaghetti and prego sauce everyday. No I mean we're eating what I consider to be Michelin star rated dinners essentially. I mean these are delicious delicious dinners.
health, weightloss
2286 - 2301 Jonathan Mendonsa And Laura still owes us the top 50 recipes. don't think that I've forgotten accountant season has to be over by now and right now there's one recipe on a Facebook group and it's for chicken Schwamm. I fully anticipate that there needs to be 49 more.
2301 - 2312 Brad Barrett There are there coming. She's promised so our younger daughter is going to kindergarten in the fall. And yet Laura promised that she will get them in shape and get it published on the site. But.
2312 - 2328 Jonathan Mendonsa So that's the meals that should approximate $2 per person per meal that have made the Barrett's top 50 list. So you are going to benefit from years of testing. You're going to get what they've landed on as the top 50 and yeah I'm not going to let it go Laura. It's not going to be forgotten.
2328 - 2385 Brad Barrett You know she's listening I know she is just. Just to finish that thought real quick is what I was saying was we used to just eat right like the chicken shawarma. That's a perfect example. Now when Laura makes 12 Chicken thighs for a chicken shawarma that's good for six person meals. But if I even eat a little bit extra it would destroy our last dinner. So we had that for three nights right six person meals three nights for each of us eating even just eating a little bit extra would destroy that third meal. And then obviously spike the cost per meal and that's just silly. Right so like I keep that in mind it's like a fun little game and it makes you healthier and a little bit wealthier. Right so like and when compounded over years and decades like that kind of stuff adds up it really does. So you know just try to paint a picture here of like how I take this fun game like approach to life and to wellness. And and it really does make a difference. I promise you.
health, mealplan
2385 - 2562 Jonathan Mendonsa And so the next piece of that and the pivot here which is the perfect pivot is that sometimes you come to the end of the meal and you just don't feel like you're done. You just want more and so what Brad's doing as he's intercepting that I want more and the next response would be just to eat. But he's using this as oh no. We have these meals that are portioned out that will last this period of time so I'm not going to do that that's his intercept but for me what I'm doing is if I want something else what can I replace that with. And so I'm considering. Dare I say this Tea as an option. I posted it on the Facebook group that I'm looking for some Tea hacks. I was about to lose my man card on the Facebook groups. There were a bunch of people including Frank and Dale and I saw you guys give me a hard time about it. I had to check my admin credentials to make sure I wasn't going to get voted off the island. But after I made it through the gauntlet then I was actually able to get some great answers from all these people that have really figured out some really cool stuff for tea. So that's what I'm in the R&D phase right now. That's my personal development my personal growth see this stuff can be fun and it can be things that you don't even think of. So I'm looking into how do people that have figured out tea do tea and I know they don't just buy the bags at Walmart and throw it in a cup and a microwave there's probably a better smarter way of doing it. What have other people figured out. And then once you figure out something that works for your life maybe you can intercept that response that maybe would have been dessert or a piece of chocolate or something like that. Maybe you can insert the benefits of tea. That's what I'm looking into right now. I think it's going to be fun but the whole point is how can you stretch yourself and how can you apply this to every facet and we just landed on health and wellness. You can do this with literally anything. What are you doing with your free time. Are you going to watch TV. Well what if you learned a new hobby and what if you picked a hobby that didn't cost anything but would also get you fitter. You can tie all these things back in and you can make better choices that have the synergistic result on the life you want to live. So Brad and I could rave about this episode frankly for days because there is so much here that you can incorporate into your life. There are so many different ways that you can take this and design a future that you want to live into. And we plan on exploring this. We think of this show as first and foremost a personal finance show but right behind that is a personal development show a show for people that want to find out everything they don't know and then figure out what levers they want to pull to make their life better and we think that that is a compelling story that frankly we just want to be a part of and learn right along with you. And we did get a little bit of feedback on the episode. Several people said it was for them personally it was their best episode to date which we appreciate that sort of feedback. Dominic appreciates that feedback and general we've commented on the power of feedback. The power of just getting something out there so that you can receive what's good what's working what's not working. Certainly that in and of itself is a take away right there. Don't be afraid to execute on something it may not be perfect. It may not be exactly what you are hoping for but even if you get criticism that criticism is invaluable and it gives you a place to start. So that was kind of the final key. This idea just execute. Just do something. Commit to something and then whatever comes back learn from that and move forward.
2562 - 2628 Brad Barrett And you know one particular piece of feedback that I loved was from Russell and he said the idea of putting a gap between stimulus and response is very powerful. This is exactly what the Frugalwoods 72 hour rule is for. And yeah I just thought that was incredibly insightful and I really appreciate Russell mentioning this. And that's exactly what Liz described way back in episode 12. And we talked about how powerful the 72 hour rule was for us. I know for me it was something that I was able to get this generic email from Liz that she sent her entire email list but it felt personal because I knew I could apply it immediately. It was something that I could say all right sometimes even on small purchases I just reflexively buy something because oh it's $5 dollars or oh it's $10 but Liz advised to create the 72 hour rule where all right. Put this on a list and think about it for three days before you just reflexively make that purchase. And as Russell said that's exactly like putting that gap between the stimulus and the response and yeah I just I was very impressed by that so I wanted to mention it specifically on the podcast.
2628 - 2709 Jonathan Mendonsa And Paige says I appreciated that there was none of the Pat. What is your dream talk but it was a realistic look at how to bring your joy and your time into alignment. So much of the talk and the self-realisation area doesn't work for me but what Dominic was saying really held up in my mind to challenge my responses to my current state and make emotional demands of myself pushing my human growth. I think these ideas can really help me to live happily between here and FI. Sometimes this is a struggle. I also think this dovetails really well with the milestones from last week. So she does really good episode and Paige thank you for that feedback. I agree with you again over and over again these concepts they just tie in together and and once you just start accumulating these ideas at some point in time I'm literally going to quote Brad from essentially episode 1 of our podcast. They start to synthesize in your mind and over time you find ways to use them and you make connections that you had never considered. And then this is from Sam and Sam says I literally was left challenged after today's episode. I love the show normally and all but today's was different. I'm new to the community but I think my wife and I were doing so much that for us it seemed like home. Today show struck me differently. I had so many different times where I felt like yelling Preach it brother was in my car. Maybe I did. Maybe I didn't you'll never get it out of me. Sam We appreciate that feedback and. Absolutely. I was fist pumping right along beside you I promise.
2709 - 2745 Brad Barrett And guys all this feedback is coming to us via our Facebook group. So this is really the lifeblood of the choose FI community now and I really strongly advise everyone out there to join in. Just go to choose FI dot com forward slash Facebook and you just enter your e-mail address. We'll send you an email with a link to the private group and you'll get in there immediately. And at this point there are dozens upon dozens of new threads every single day and it's really remarkable. We are closing in on 2000 people in there and it's just it's really the most vibrant and active Facebook group I've ever seen so choose FI dot com forward slash Facebook.
2745 - 2799 Jonathan Mendonsa Well and let me say that we published this episode on Monday and we're recording this one today on Tuesday. Frank just comment on our blog that he had never heard of outwitting the devil so he already went out found it in binge read it in one day and now is giving feedback to us on it today. And he went ahead and put a comment on the blog and basically went through all of his takeaways and blew his mind. But just the fact that once you get this excited about learning you can shut it off. And that's what inevitably pulls you. You go from listening to an episode that blows your mind to then all the little things that that person sets up for you you then go tackle those and just like Frank just tackling all these new ideas and concepts and binge reading these books. Brad and I are doing the same thing and that's why the hot seat for us is so powerful getting a chance to find out what inspires another person that we look up to and then going down their rabbit hole of self-discovery and it just constantly moves the ship forward. It's a very gratifying experience.
2799 - 2813 Brad Barrett Yeah holy cow I actually just navigated over the site while you were saying that and jeeze I mean Frank literally wrote a book. It looks like about 500 to 1000 words. I'm going to send this over to Dominic because I know he'll be quite quite impressed and probably will want to get in touch with Frank actually.
2813 - 2818 Jonathan Mendonsa Yeah that is definitely not the lemming thing to do right there.
2818 - 2820 Brad Barrett Frank Frank's the next level guy as you would say right.
2820 - 2898 Jonathan Mendonsa Absolutely. Thank you Frank for that feedback. Very cool stuff. Much appreciated. All right guys so we like to set aside a little bit of each show to do these different segments. The segments change from week to week there's some baseline of consistency but we have these ideas of things that we like to talk about when they're appropriate specifically for all of our new audience members that may be on the group that don't know what F.W. O. T.W. us. That's our viral hashtag. That's a future tense thing it's not going viral yet but it's going to take over the world slowly. And that is FWOTW that is frugal win of the week. And we want to know what got you excited about how did you save money this week. What's the little thing you did to crush a line item in your budget. And we want to see your creativity we want to know exactly what's getting you excited that you figured out so we put it out to our community and sometimes we get something good back. The other ones that we do we'd like we'd like to talk about fire in the news so any time that the mainstream media picks up on maybe a blog article that had to do with the fi community or a topic that's some way maybe even tangentially related to the FI community we want to talk about it a little bit here we'd like to talk about travel reward. So if you had a trip that you got really excited about that you took using travel rewards. Call it in on a voicemail line. We'd like to play those here. Things like that that bring our community together that we all get excited about. We just have basically set aside a small portion of the show to talk about those so Brad what was our first frugal win of the week.
FWOTW, travelrewards
2898 - 2991 Brad Barrett Yeah the first one was from Holly and she said instead of taking my three kids to the movies on Saturday I decided to get a new board game in my quest for minimalism along with fi. I went through what we had and donated it for old ones. We no longer play which scored me a 25 percent off coupon at a second hand store with the coupon. I purchased the game outbursts for under $3 add popcorn and snacks from our own cupboard. And you have frugal fun trying to save more. Plus not accumulate more clutter has been a work in progress but we're getting better. Yeah this was a really good one from Holly. And if I could just mention about the movies the movies. One of my little kind of soap box thing that I really haven't mentioned on the podcast before but this is kind of a perfect time. We're constantly just blown away by like people going to the movies and spending ten plus dollars a ticket and then just reflexively buying these huge tubs of popcorn and soda and all of this other absolute garbage for you. I mean most families we know spend literally $60 when they go to the movie theater which to me is absolutely absurd when really the opportunity costs for watching that movie at home is either $0 on Netflix or one dollar or a dollar fifty when you buy it on Redbox. Right so like that is what a movie should cost a dollar or zero. And yet people just reliably are going to the movie theater and spending between 40 and 70 dollars every single time for no added benefit. And I would argue for much worse. Right. Because you're stuffing yourself with ridiculous sugar and popcorn. Come on guys like that's one of those that I would love to throw my now patented in.
2991 - 2994 Jonathan Mendonsa My soap box brother it's all yours. You let them know.
2994 - 2998 Brad Barrett That that definitely is a lemming scenario.
2998 - 3186 Jonathan Mendonsa Yeah I love movies. But I will say that on this one I never buy the popcorn I don't even buy the water. Have you ever looked at the price of water or bottled water at the movie theaters for eight ounces you're going to it's going to cost you four bucks like 50 cents an ounce. That's a most precious water on Earth. But I do go to the movies from time to time. I think there are probably smarter ways of doing it so what I found is actually lately I haven't even really wanted to go as much. I really regretted not going see Wonder Woman I regretted that one. We did go see Spider-Man and I think I felt a little bit let down because it was like the first time I'd gone in over a year it was really cool to watch the Regal opening scene where you go down you know on the roller coaster ride that one that's really cool. The movie just didn't do for me this time and I think it was probably a pretty decent movie but I just I didn't get super excited about it. And actually Justin in our Facebook group he actually posted a picture about how they did a movie night in his backyard on the projector screen. And to me that looks perfect That's my idea of the perfect i guess it would be weeknight If you're FI. Maybe weekend night if you're not FI not sure but do a movie night in the backyard on a projector screen in the middle of fall and hopefully have a firepit out there somewhere as well. That's a primetime good night right there. That would be my anti lemming solution to my ongoing love of movies. Just just my two cents. This podcast was not brought to you or sponsored by Regal Cinemas. Now Adley had another frugal one of the week. And he says my air conditioner stopped working a couple of days ago not knowing what the problem was. I searched YouTube for AC problems. Came across a video explaining that the majority of issues are due to an old and likely blown capacitor. I opened the panel and saw the capacitor was indeed bulging. Bought a new one for 15 bucks. Replaced it and guess who's back. Our A C major victory for someone with little knowledge when it comes to refrigeration and electricity but a ton of willingness to stoke that fire. That is awesome. Now I got to admit the first thing that came to mind when I read that as please don't electrocute yourself. Please don't electrocute yourself but right behind that was that is awesome and you know I will say that is what we do. At some point in the FI community you begin to enjoy these DIY projects because you have more time. You are willing to attempt things that maybe you wouldn't have considered when you only have two free hours a week to dedicate to any particular project and when you decide that you're willing to do that you're willing to be this radical in sourcer you're willing to take the time to spend an hour or two on YouTube figuring out how to do something. And if you can treat that as a game as a fun new skill that you're learning then I think that there's value there. I think not only are you becoming a more useful person for this 60 year 90 year period of time that you have on this planet but just in general you're applying your creative juices to something that doesn't cost anything and in fact is keeping money in your pockets. Thanks for sharing very much there and actually I can tell you that in the last two years I have fixed two toilets and I have installed a rotating ceiling fan. And I had spent the time on YouTube learning how to do all that stuff as well so I can relate completely to what you're saying although I think I would be a little scared if I went out and saw that the thing I needed a fix was the capacitor. Just make sure that you turn off all the power before going out to your outside unit and you also read up on how to discharge a capacitor before you attempt anything like that spend plenty of time learning how to do that sort of thing whenever there's electricity involved. This is a public safety announcement from your friends at Choose fi.
3186 - 3256 Brad Barrett I love it alright and this is not a frugal win but I received an email from the Paige and this was just such an insightful quote that I really wanted to read it and Paige said I'm obsessed with the idea that the Fi message is not all about income and I'm constantly reminding myself that the only thing I have 100 percent control over is my spending and my savings rate. And that is just a really important thing for us to remember from time to time is that we are constantly talking here about cutting your spending if you possibly can. Of course where you see value this is not about deprivation. Choose a FI and FI in general is not about deprivation but it is about control and Page said. The one thing that I have 100 percent control over is my spending and therefore my savings rate. So I really wanted to put a point on this and just say we all need to be constantly aware of this because everything drives off of that spending like our FI number is predicated on 25 times your spending. So spending is the most important number in the fi universe. In my opinion and yeah just really wanted to read this because I loved the quote and I think it's something that we do need to reiterate from time to time.
3256 - 3427 Jonathan Mendonsa Yes absolutely and if I remember correctly that that message was way more than a single quote that was an entire blog article and I was actually going to reach out to her and see whether or not she wanted to. If she would like to either reformat that or allow us to reformat that and actually publish that on the blog as a full on article because page it really was that good so maybe that's something that we can look into getting posted on the site sometime in the middle of August. If that's something that y'all would enjoy reading as well just like Brad and I did. All right so obviously we've been telling you for several weeks now that we had this contest and with Alan Donegan where he is going to be hosting this competition for this essentially this ultimate winner that's going to receive one on one coaching for the next one to two years to create the side hustle essentially of their dreams and while ultimately there can only be one winner for this competition we thoroughly anticipate that there will be thousands of businesses that are started as a result of us not only having this winner but then presenting the process on the show so you can count on the fact that once a month we are going to have this person on with Alan Donnagan. Alan's going to walk us through this next piece of the puzzle to help this person turn this side hustle into a reality. And you get to take that and incorporate it into your own life. And then we just constantly build the story up one piece at a time. It's going to be very powerful and certainly it's going to be inspirational to see something built from the ground up. So we were accepting applications up through July 24th which if you're looking at your calendar you realize now has already passed so we have received well over 50 submissions for this contest and now we are going to be filtering those down to some finalists which we will then offer up to our Facebook group and they will ultimately determine this winner. And just like the show is crowdsourced So is this contest this contest will be crowdsourced So first of all if you want to join that Facebook group we keep mentioning over and over again but it's because we want this to be the epicenter of this show. The more people that we can get involved in talking about ideas the easier it is for us to get those ideas back out onto the show for public consumption. And so it's this what Brad has referred to over and over again as this virtuous circle. So please join us on that Facebook group just go to choose FI dot com slash Facebook and we'll see you there. And then the other half of that is I have three voicemails that I want to play for you today. Now the first voicemail is from Jessica. And Jessica put a submission in for the contest and she is absolutely in the running for that. But in the process of creating this submission the story that she told was so compelling that I wanted to play it on the show just to give you a chance to hear it because she's created a new segment for us called highlighting the hamster wheel. And frankly I was laughing out loud when I heard it. And I think that it will inspire you. And have you take a look and identify the fact that you see this all over the place. And so this new segment Brad doesn't know about this I'm just announcing it to him as well as you. But this is a new segment. You're going to see over and over again highlighting the hamster wheel. And Jessica is the absolute first one to do this for us. So Thank you Jessica.
3427 - 3495 Jessica - (voicemail contributor) Hi Brad and Jonathan. My name is Jessica. I'm a user experience designer linguist and educator by trade and an economist by education. I'm a mother of three kids under five and live in an area with a high cost of living in a very competitive toddler scene. No really the toddlers scene is very competitive. Here's an actual conversation with some fellow parents adjusted for their privacy. Parent number one I'm just so concerned about my kids development. I mean I have them in karate and interpretive dance after preschool but what about Mandarin. I'm just so tired from driving around everywhere to get it done and it's just so expensive. Parent Number two O M G I know exactly what you mean. I just spoke with the director of our preschool about which extracurricular activities I can put my kid into now so that I can set them up for success. The Bay Area is just so expensive. You got to work two jobs just to make ends meet me. Yeah. I'm not putting them into any extracurricular activities until they are in public school and it's free. Until then they can make shivs out of Play-Doh. Silence. Parent Number one hey did you want to go shopping this weekend. I hear Lulu Lemon is having a sale and scene.
3495 - 3505 Jonathan Mendonsa Can we just pause everything for just a second and acknowledge how awesome the line make shivs out of Play-Doh is. Best daycare ever. All right. Let's play the second half of this.
3505 - 3686 Jessica - (voicemail contributor) I used to be in the dual income family camp. Then we had kids and managing two careers with little ones and no family around became difficult. It's kind of silly when you think about it. You get into debt going to school so that you can get a degree to get the right job that is miles away from family which means that you have to work long hours to pay for the day care to get that job which is so good but leaves little once you take out daycare and student loan payments and the high cost of housing. We were on that hamster wheel. I would work late to meet a deadline Monday late to pick up my kids from daycare. And then I would have to log back on to work until 2:00 am at home after this was on repeat for too many days. We decided we were over it. Something had to change. We wanted to be fully free from my job so we started slashing our spending to try to make that happen while also putting money away. We started becoming makers instead of just consumers cutting our own dogs hair making our kids toy kitchens out of painting cardboard boxes etc.. I explored frugality and minimalism. I looked into part time work and found that upward mobility pretty much stops once you go part time. So in addition to making fewer total dollars you know because you're working fewer hours you're also pigeonholed into jobs that pay less and you still have to pay for daycare through hard work. We have gotten to the point where we can attempt to transition one of us from office work to homemaking how it already feels so much better. The small taste of freedom has made our decision to stop spending and start saving. Feel more like an exciting game rather than an exercise in depravity by having just one earner in the family. our stakes May have gotten higher and the game harder but it doesn't mean we can't hit FI. It just means we've got to kick off our loafers and put on our working boots we believe creating a healthy side hustle is the key to generating the extra income that will help us comfortably shed one job while still being able to put money away to keep FI. So I manage three small kids while my husband works long hours. Our time is a commodity in high demand. As such I want to start my first side business by spending each week less than amount of time an American spends watching just one season of a TV show on Netflix which by the way is about 10 hours. Now I know what you're thinking. This all sounds grand but what exactly will you build in just 10 hours a week. Well I'm glad you asked. I've got quite a few ideas which range from something as simple as selling funny T-shirts for profit on the Internet. So the grandiose like developing a device that will lower the prevalence of communicable diseases in hospitals. This is where coaching would be invaluable. I want you to help me evaluate which of my ideas would work best with a side hustle and teach me how to minimize tax liability through a side business how to leverage assets to grow a business and how to identify when it's best to hire help. Having the FI community's feedback would be invaluable and highly motivating as well so that Brad and Jonathan is my pitch. I hope you've enjoyed listening to it as much as I've enjoyed recording it in my garage. You can find out more about me by checking out my experimental blog that counter's perfectionistic pintresty parenting at. W w w the diaper pail. Co. Thanks and I look forward to hearing back from you.
career, debt, families, frugality, hustle, savings, tax
3686 - 3751 Jonathan Mendonsa All right. Not to give you a leg up Jessica but thank you so much for helping us with this segment. I mean honestly the future of this show has just been changed forever highlight the hamster wheel will be an ongoing fixture and we hope so many more people will call and with how they have seen the hamster wheel in their life. What does it look like. Why is it. What is the irony that your neighbors don't see about the choices that they're making. What does the irony of the choices that you made before the light bulb went off. That's what highlighting the hamster wheel actually looks like. And you know going back to the finalist thing we're actually going to have a panel that are actually get to pick our finalists and then we're going to give those over to our Facebook group so that's going to be a whole separate process. Thank you Jessica for taking the time to go out to your garage and record this. We all won. Just because you were willing to take the time to do that. Thank you so much. I have a second voicemail that is equally good and totally different that I'm going to play for you right now. And this is from Royce and if you remember Royce actually sent us the voicemail that was the inspiration for the aspiring minimalist versus the reluctant frugal. And more specifically it was how to get your spouse onboard. So this was Royce's submission. And Brad it's going to blow your mind you're ready for this.
3751 - 3752 Brad Barrett Yeah let's do it can't wait to hear it.
3752 - 3775 Speaker Royce is looking for a side hustle to get off the hamster wheel. He has three kids and wants to be an example with them. He does not have an idea for a side hustle and is able to work three to four hours a day on it the fire has been sparked and is spreading.
3775 - 3777 Jonathan Mendonsa He Used my voiceover guy Brad.
3777 - 3781 Brad Barrett That's unbelievable. How did he find him. Did he Contact you or did he find him randomly.
3781 - 3824 Jonathan Mendonsa No he found Him on his own I think we had it linked in one of the episodes like where we did the hotseat I think I had a link to spike Real's account on Fiverr but yeah he found him and it's awesome. Royce you just made my day that was hilarious. Well done sir well done well played. OK I got one more now. This third voicemail that I'm playing is not a submission for the side hustle but it is related so we're going to do this one as well. And we're kind of dedicating a little bit more time to this because the the deadline for submitting your voicemails was just this past week so now we have all of our applicants and we're going to go to this next phase. But I'm very excited about this one and I think there's a lot of people especially if you're in the teaching arena this is going to be a potential game changer for you as you consider what side hustle you might want to pursue in the future.
3824 - 4034 Thomas - (voicemail contributor) Hey Brad and Jonathan this is Thomas AKA K12FI guy here. I wanted to share what I believed to be the most amazing side hustle for teachers and others of a bachelor's degree or higher especially for ones who want a guaranteed amount of pay per hour. I teach English online to five to 12 year old Chinese students with a company called V.I.P kid as someone who is teaching experience in a bachelor's of any kind they're eligible to apply. We have over 10000 teachers. You can work as much or as little as you want. Day by day week by week so long as classes are available you open half hour time slots and kids choose you. Since my first week back in January. All openings and I choose open books. I've worked over 25 hours some weeks. Weekends are also available to add to flexible curriculum and lessons or an online powerpoint or video chat format. The company thinks of all the teaching materials you as a teacher are just present it and talk to the students. Teachers can draw in and advance the slides and students can draw as well. It's super easy engaging in all honesty very rewarding pay is by the class. And averages to about $20 an hour or more if you include bonus incentives which are always going on. I personally average between 20 and 23 dollars an hour every month. This money is all earned is an independent contract which means someone who can sign up fidelity Schwab or Banharn and have access to that so 401-K an employee who works over just 18 hours a week can fully fund that solo 401K. And if someone is a public educator meaning they typically don't teach during the summer they didn't work was during the school year and both up to full time or full time plus during the summer to max out that's solo 401K. Again you have total flexibility. Now here's the cool part. If kids cancel within 24 hours no problem. Still getting paid full pay for subscribe. Students half pay for trial students that is students that are trying out a couple of classes for free. If you teach those lessons to kids you get full pay and if they don't show up you could get half still got a bad deal. It really isn't amazing gig. Now I've just signed my second six month contract with them. I wanted to make sure it was a viable solo venture before plugging them. Some people have been hired without formal teaching experience that is they have a bachelors and they may be babysat or they were a team trainer or they did substitute teaching. Most teachers are certified public educators but some are not. But you can reasonably tailor your resume as long as you have that bachelor's and try to get this go if you do get approved the interview process includes a month lesson or two. But again it's totally worth it. I've averaged over $1200 dollars each month since February. I Intend to up my average hours a week to closer's two K per month. Some teachers make over 50 grand on there. I will say that I do have a referral link as I earn $50 more for each referral that is hired. Now I have begun creating my own through email coaching courses well To help guide potential hires for the company through the hiring process which is encouraged by the company. So if someone uses my preferred link I get their email and I am able to communicate with and guide them through the hiring process to increase their success. See something like only 2 percent of total applicants are hired for me. Over 10 percent of my referrals do thanks in part to this coaching program. I've begun to feel free to share this with the community with or without my referral links. Anyone that does use them. I'll help out with my course. I'll be glad to coach through the hiring process. I'm happy to email phone call or even Skype and demo a lesson before they are mocked with the company. For those that use MY referral Again totally free and this is a magic opportunity for sidehustles with little or no capital required cooling down again. And of course you guys I'm sure are very proud. Cheers.
K12, hustle, solo401k, teacher
4034 - 4065 Jonathan Mendonsa I am very proud. In fact I'm so proud that Brad. I would say I don't think I would normally do this but I would even be willing to put his referral link in the show notes because it's one of those things that you'd never considered. I know there's so many people that are maybe looking for an opportunity to incorporate a side hustle that will give them the ability to be location independent. And this fits that bill perfectly when you're looking for something that has a relatively low barrier of entry that personally I'll leave up to you as well. But I'd be open to just putting his referral link in the show.notes What do you think.
4065 - 4094 Brad Barrett Yeah I'm I'm good with that. I think this sounds like a really interesting side hustle. And yeah we would only use someone's referral link if the members of the audience were getting something better than they could just get by Googling or whatever. And it certainly sounds like this kind of one on one coaching is well worth it. So yeah it's something that I personally don't know much about but it sounds like an intriguing opportunity. So yeah I'd love to hear some feedback from the audience and if this is as good as it sounds then that's something we definitely want to keep mentioning going forward.
4094 - 4246 Jonathan Mendonsa And also one thing that comes to mind is that in some way this is kind of the business model that you used when you first got started with your first online side hustle So you did this hybrid approach where you are going to do this kind of affiliate based marketing. At the same time you're going to be willing to hop on the phone to coach somebody through this process and make it just a little bit easier for them. And I got to think that that is something that that's a place to start. You know that that is a business model that you could consider. And I'm not saying that you need to do exactly what Thomas is talking about but certainly you can apply this to almost any type of affiliate marketing that personal connection is everything and ultimately what happens with any business is you have a product and even if the product is you you're making somebody else's life a little bit easier in some small way or to put it in a different verbaige. You're making the internet a better place and when you're trying to come up with a with a side hustle or a business that in some way shape or form is online and frankly almost any business that should have some online component you want to make the internet a better place. Just keep that in the back of your mind. All right. Unfortunately every episode does have to come to a close if only because there's no traffic on the highway and it's time for you to get home my friends. But we do like to close every episode by doing a weekly drawing for a copy of a highly recommended book from our community and we have been doing JL Collin's Book the simple path to wealth. We have actually gone out and procured for you several copies of Dominic's book design your future. It's so in keeping with the message that we've been talking about this week and we think that it's one that is going to be soaked up by our community. So either way if you would like to get the chance to win a copy of either of those books all you need to do is go to iTunes and to get there you can just go to choose F-I dot com slash iTunes and then you just need to follow the instructions. Give us a short written review and once you've done that just shoot us an e-mail and just send the e-mail to feedback at Choose ephi dot com letting us know what screen name you put it under just so that we have that. And every week we announce the winners for this weekly drawing and we do one winner for every five written reviews that we get and we would love for you to be a part of that drawing. And I think it always goes back to this idea of a virtuous circle. We recognize that by you being willing to put your stamp of approval on the show you're helping us more than we're helping you. But at the same time we so appreciate those of you that have already done that and we want to continue to recognize that you are this show that we want to continue to do this drawing for perpetuity. And right now we're extremely excited that we have such high caliber books to offer you. So if you're chosen as our winner just please let us know which book you want and we would love to get it into your hands. So Brad who's our first winner today and how many do we have.
4246 - 4275 Brad Barrett All right we actually have three winners this week. And the first winner is Liz and Liz said I love listening to this podcast. I've followed them since the beginning and I've enjoyed every episode. I look forward to it each week. I find it truly motivates me to stick to my FI plan. Hearing episodes two times per week and learning from others who are also pursuing this path. After hearing the millionaire educator episode I signed up for my employers 457 plan and now max it out. I look forward to many future episodes to come.
4275 - 4299 Jonathan Mendonsa Wow. Do you know how many millionaires and future millionaires we have in our audience. It's just incredible I mean when your audience when the new role models become the not the people that have the $60000 lexus not the people to have the speed boat with the wakeboard on the back. But when your role models become the people that are maxing out their 401k each year and their goals to hit a 20 30 40 50 70 percent savings rate. That's a game changer man. All right here's our second winner.
401k, savings
4299 - 4301 Brad Barrett Our second winner is Brandon.
4301 - 4351 Jonathan Mendonsa And Brandon says feels like a graduate degree in FI. I've been following financial podcasts for a few years and stumbled across chooseFI on accident. But what a fortuitous accident. When I listen to the episode on the pillars of FI I caught the fever to begin planning for FI for my family then I listened to the podcasts on the Roth conversion ladder and tax avoidance strategies and realized this podcast is not only inspirational. It is a thorough explanation of the various strategies to optimize your journey to FI. The incredible thing about the podcast is it's very detailed but the application extends to people in very different situations. It can be for the doctor with six digit expenses trying to get these lower of course or the minimalist living on $10000 a year regardless of who you are. If you're interested in optimizing your finances this is a must have in your podcast feed. Wow. I'm speechless. Thanks man I got nothing to add onto that. Thank you so much. And Brad who is our third and final winner today.
roth, tax, testimonial
4351 - 4383 Brad Barrett Alright our third winner is Mark and Mark said for most of us the path to financial independence is a marathon not a sprint. With new episodes every Monday and Friday choose F-I keeps me motivated and as I start off each week and as I make my way into the weekend they helped me keep my eye on the ball and stay focused at work helping me focus on what I'm working towards. It has quickly become one of my favorite podcasts. I'm really looking forward to the information they release on how to hack the FAFSA and other college funding tips and tricks. Keep up the good work Jonathan and Brad and thanks for the chicken shawarma.
college, fafsa
4383 - 4407 Jonathan Mendonsa That's awesome. Got to make that. That's on my to do list as well. Very cool. All right my friends if you heard your name in this drawing please just shoot us an email with your address so we can get these books out to you and also if you don't mind just let us know which book you would like. Currently it's the simple path to wealth by JL Collins or alternatively design your future by Dominic Quartuccio. We would love to get a copy of that book in your hands. The fire's spreading my friends and we'll see you next time as we continue to go down the road less traveled.

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