045 - JD Roth Get Rich Slowly Full Circle

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0 - 60 Jonathan Mendonsa All right guys welcome to the Choose FI radio podcast today we're going to be interviewing J.D. Roth J.D. Roth has earned his place on the Mount Rushmore of fi and in light of the fact the fin con is right around the corner. And a lot of people are talking about the Pluto's awards. It's worth noting that J.D. Roth won a lifetime achievement award at the first year of that conference. And so with all that being said we are thrilled to bring him on the show to share his story to share the six stages of financial freedom and spend a little bit of time talking about where this FI movement may be going in the future. I'm also incredibly excited to tease you with this announcement that we have at the end of the episode and I don't think it's hyperbole to say that this may be the biggest announcement to hit the personal finance community over the last five years so make sure you stay tuned for that without any further ado. Welcome to the Choose FI radio podcast Brad talk about introducing someone that really doesn't need to be introduced today we're bringing in J.D. Roth originally from Get Rich Slowly dot org and now writing over at money boss. I just recently saw a statistic this guy's been blogging for over 20 years.
blogger, fincon
60 - 61 Brad Barrett 20 years.
61 - 109 Jonathan Mendonsa 20 years. A lot of hustle. I don't even know blogs were around that long but apparently that's a true stat. So we've got him on the show today and he's going to be sharing a little bit of his story with us and just how this whole thing started and what's really fascinating to me in my mind J.D. was the first person to start talking about personal finance as a journey that he was living right along with you up to that point it was more of a guru mentality where you had these guys that worth millions and millions of dollars and they said hey here's 10 things that will make you rich instantly and oh by the way sign up for my premium class. J.D. said Hey I'm just the guy that makes mistakes and thinks I found something that's kind of cool I kind of want to figure this out with you and I don't know at all but I'm willing to document my thoughts and ideas for critical feedback and then improve them as I go. And he's been doing this for such a long period of time that his ideas have just every single year gotten better and better and better and so I'm just thrilled to get a chance to talk about this today.
109 - 209 Brad Barrett You know you and me both. I mean Jenny's site was literally the first blog that I ever read in my entire life. And I followed him and like you said he was just a regular guy you know he read comic books which you know I had a huge collection of comic books. He had financial issues. Right. So many of us do. And it's that process it's working through and realizing OK I can make changes maybe I made mistakes in the past but I can make changes that will help me move forward in a more rational and deliberate manner. So I'm going to take control of my life. And that was the message that I always got from JT and I know personally JT really changed the entire trajectory of my life. This is a story that I don't think I've ever told publicly. But the very first time that I ever heard of travel rewards. Right which is what I became known for on the Internet is through. JD had an article so many years ago about this one British Airways card that he opened and I wound up reading it I'm like oh that can't be true. That's impossible. But I trusted JD and it was this guy I have been reading for years so I just I said OK I trust them. JD I open the card up got this bonus and I went up getting over $4000 in travel value out of this one credit card. And what's really really cool kind of coming full circle and we'll talk about this in a minute is that when we met up with J.D. it at camp mustache in Florida this past January I went up to him and told him the story. And he literally had not used the British Airways miles from that card. And I was able to teach him how to use them. I mean how amazing is that if you wrote a story you couldn't have wrote you couldn't write anything like that. It's amazing.
travel, travelrewards
209 - 214 Jonathan Mendonsa I was there for that and it literally blew my mind. So J.D. Welcome to the show. How you doing today.
214 - 246 JD Roth Thanks guys. I'm glad to be here. This is awesome. I think that story's awesome too bad. And that one thing to know is I still haven't used those miles. I still haven't. I mean it's only been like 10 months. Yeah about 10 months since we talked that you'd think I would have used him by now but no. In fact I've started accumulating more miles because I think I talk to you. at camp mustache about it. The Chase Sapphire Reserve I think is what it is. So I signed up for that. I got a ton more miles and now I have I don't know I have like 300000 miles that I just haven't used. I need to do it.
246 - 252 Brad Barrett Yeah you bet. Come on. You've got to you've got to travel so if you want personal help I'm always here. So you know where to reach me.
252 - 253 JD Roth Awesome.
253 - 261 Jonathan Mendonsa I feel like you have plenty of opportunities for different camps and meet ups all around the country. So at least you have excuses whether or not you execute on those or not. You certainly have the opportunity available.
261 - 263 JD Roth It's true. It's true.
263 - 295 Jonathan Mendonsa I was thinking Where should we start with you because obviously you have so much content that we could dig through both on Get Rich Slowly dot org and on your new site. Money boss. But I think for our audience we have a lot of the Old Faithful the vanguard of FI the people that have been in the FI community for the last 10 years the people that discovered personal finance through Get Rich Slowly. But there's also a lot of people that are going to be finding JD for the first time potentially through this podcast and our website at ChooseFI dot com because there's a lot of new faces in our community. Can you tell us a little bit about your backstory and did you discover the personal finance community or the FI community.
295 - 391 JD Roth Honestly it was the personal finance community I hadn't heard of financial independence as a concept well I guess I read about it in your money or your life but it never really clicked. And I suppose most of your audience is going to be familiar with your money or your life. By Jove I mean as in Vicky Robynn and that book is very very influential and they talk about financial independence there but I never seriously considered this as something that I could pursue. It seemed like a pipe dream you know. So the financial independent stuff came later. It wasn't until I had been writing that get rich slowly for quite a while and even after I sold the site that I started reading about financial independence but personal finance that's something that I've been interested in all my adult life because I've always struggled with money or I don't anymore but I used to struggle with money and I struggled with money for about 20 years. My parents had never taught me the financial skills that I needed. I was one of the fortunate few that had a personal finance class in high school. I know most people don't get that but I didn't do well in the class surprisingly. So I went off to college and got into deep credit card debt and just started accumulating the debt and it got worse over time so that eventually I had over $35000 in consumer debt. So I started Get Rich Slowly as an attempt to document my process. Kind of what Brad was talking about documenting my process learning about money trying to teach other people what I was learning and sharing what I was getting right but also what I was getting wrong. Because I'm human I do dumb things. I buy too many comic books or whatever. So I started reading and writing about personal finance and sharing in that. And it just resonated with a lot of people. And that's that's where I got my start I guess with the financial stuff.
college, debt
391 - 409 Brad Barrett JD curious about the $35000 in credit card debt. How long did it take to accumulate that. And really what did you have to show for that $35000. I mean did you have anything. Was it you know at the end of the process Hey I just frivolously waste of this money. You know talk us through the mindset of how you got to 35 k in debt.
debt, mindset
409 - 510 JD Roth OK. Well first of all I say $35000 of consumer debt because I also count my car loan in there. It was about 25000 credit card debt. Now I just want to be clear on that. So it started in college really. I grew up my family was relatively poor. My parents didn't make a lot of money. They didn't know how to handle the money that they did make. My father was a serial entrepreneur so he had all these great ideas and he had some successful businesses but he always just frittered away the money he got. If he had a good month or a good year he'd go out and buy an airplane and a sailboat and personal computer back when personal computers were new and so the example I saw is if you have money you spend it. So I graduated from high school went off to college and I didn't have a whole lot of money and in college I was there on scholarship. But the people around me a lot of them came from wealthy families and it seemed to me at the time I don't know whether it was true but it seemed to me at the time that they were able to buy whatever they wanted. And so I wanted to spend like they did. And fortunately if you go down to the university centered You know there's always these tables where you can sign up for credit cards. And so I signed up for credit cards and that's how I got started. First it was just a $500 credit card. But eventually after you carry a balance on that for a number of years and keep making payments on time they'll boost you up and they'll give you a $2000 credit limit. And so basically I graduated from college in 1991 with the start of a credit habit a credit card habit and that just grew over time. I always kept my balance almost full on whatever cards I had and I would make my payments every month and it was done. It's pretty much the prototypical stupid behavior with a credit card only. I was making sure that I made my payments every month. The credit card companies love me man. They were they were making bank.
college, debt, families, scholarship
510 - 522 Jonathan Mendonsa I'm just curious I know we talk about travel rewards in these different types of Sign-Up bonuses that are available that allow you to try to travel the world. What sorts of awesome bonuses were you getting for signing up for those cards.
travel, travelrewards
522 - 557 JD Roth I got a plastic card. No. There were no bonuses. They might have existed back then but I don't remember seeing them and it wasn't what I was after. I was just after oh wow look this has a high credit limit I can spend more money. And so Brad asked what I was buying and what I had to show for it. I was buying books. I bought a lot of books before I purged. Here a few years ago I counted I had over 3000 books. So that's a lot of books and I had to store the books. I bought computers and I bought comic books. I did have things to show for it but it was outdated technology. It was books and it was comics.
557 - 563 Brad Barrett 3000 books. I mean if those are hard covers 20 bucks a pop that's $60000.
563 - 568 JD Roth And they were used books I looked at a lot of books.
568 - 579 Brad Barrett I remember also with the credit cards at the student union at my university they used to give you I think frisbees and. All right T-shirts right. So instead of travel rewards maybe you got a T-shirt for it.
579 - 619 JD Roth One of my favorite stories about stupid money behavior. JD stupid many behavior is how I pick my first bank account. And it was because of a frisbee. I remember I went to it was the first day of college. You go to sign up for your classes and there's these tables for local bank accounts and one of them was like a local credit union. They weren't offering anything. So why would I sign up. But this big national bank was given away a frisbee so I signed up for that and brought on $5 a month fee basically and that that $5 a month eventually went to $7 a month and that free Frisbee ended up costing me hundreds of dollars over the next 10 or 15 years because I signed up for the bank account that had a monthly fee.
619 - 638 Brad Barrett JD One thing that you snuck in there was that you went to college on a scholarship and we're actually always looking for actionable tips for the audience. I'm curious are there any actionable tips for how you got that scholarship or was it a just merit scholarship because you were brilliant or you know talk us through what I was in and could the audience take anything away from it.
college, scholarship
638 - 676 JD Roth It was a merit scholarship and not because I was brilliant it was because I worked hard and I tested well. So there's no doubt I did well on the tests and the PSAT helped me get to scholarships. But I was also very studious and involved. So in high school I did my work I did my homework and I worked hard and I think that's the important thing. The people that I know that went to college on scholarship all share common things and that they've worked hard in high school and that's probably not the answer that people want to hear. But that's the way it works is you work hard you get good grades and is just what your parents tell you you know.
college, scholarship
676 - 700 Brad Barrett You know that's a great answer. I mean we're certainly not looking for anything in particular but that's valuable I think and I'm curious did you search out a particular college or university that you thought or knew you could get a scholarship to or did you have aspirations for the Ivy League or was it hey. I am. I know I did well on the S.A.T. and PSAT. I'm going to go for X Y and Z University where I can get a full merit scholarship.
college, scholarship
701 - 783 JD Roth Well one thing to understand is that younger JD, even as recently as five or 10 years ago I was not very self-directed. I did what I thought was expected of me. I did what I thought I was supposed to do. And so that means if there's something like applying for colleges I'm only doing what my counselor or my parents are telling me to do and not actively like I know some people applied for dozens of colleges. I didn't I applied for three or four because my counselor and my parents said OK these are the three or four you should apply to. And then I went to the one that gave me the most financial aid. In that case it was a full ride scholarship and grants. So I think one of the big differences between now and then and this is actually a theme I try to write about at Moneyboss all the time is now i'm very self-directed. I try to have what I call an internal locus of control. I feel like it doesn't matter what kind of bad luck I have it doesn't matter what kind of crap happens to me. I'm still responsible for how I respond to that crap if I want my life to change. I'm the one who has to change that. And that's not how I used to be at all. I used to be like Eore man I was like oh gosh my life just isn't what I wanted to be. I want to be a writer but I'm not a writer. I wish I lived in a different place in that I never did anything to try to change my circumstances. It's only once I learned to take control and say No I'm the one in charge of creating the life I want that things got better for me.
college, scholarship
783 - 801 Jonathan Mendonsa You control what you can control and then you don't sweat the difference. Right. There are things that you can actually affect change. You can actually affect. I think so many of us start freaking out about everything else. Just not worth your mental energy. Yeah. So you decide to start writing about personal finance. I don't even. Would you have even called it a blog at this point. Were they actually called blogs.
801 - 1007 JD Roth No. So what I say is I started blogging before our blog was even a word. And that's true. So for me when I graduated from college first of all I wasn't actively interested in personal finance yet. Yes I was interested in trying to find ways out of debt. But I was searching for magic bullets. I remember a couple of times I sent away for things that I saw and magazines or newspapers. These ads were writing to us today and we'll show you how to get out of debt overnight or how to make $20000 a year in your spare time. I was searching for a magic bullet. I was trying to get rich quickly. I wasn't taking the correct approach. Looking at the long road. So yeah I graduate from college and right around that is when the internet starts becoming more prominent. So I graduated in 91. I think I read a book about the World Wide Web in 1993 94. I know that I got online and made my first web page in 1994 and then in 1997 I started basically what I would call a web journal what we called them back then was a web journal. And I started a web journal trying to document my physical fitness because along with that I was struggling with my weight and size documenting my progress. I had nobody reading it. Nobody is reading it. Back in 1997 and then in 1998 I started what you would recognize as a blog today I was just writing about like where I'm going on vacation what movies I'm seen. I had a hand-coded though there was no automation. And that got a little tedious so I just gave it up until the automation software came around a couple of years later and then I picked it up and that's when I started writing a regular blog. And that was my personal blog and I say that I wrote about cat computers and comic books because those are the three things that I wrote about and I built an audience at first it was just friends and family and then it was more and more people. And then it was in 2004 that I decided you know I really I'm sick and tired of being in debt. I have this credit card debt. I have the auto loan. I feel weighted down by it. And around that time my wife and I was married at the time she (his wife) and I bought a new house and when we bought the house on paper we could afford it. But the reality was once we moved into the house it just felt like this burden and I was I felt like I was drowning in debt. I was like How do I get out of this. And so I started going to the public library and checking out books about personal finance and I was reading everything I could about personal finance. And in October 2004 I sat down. I still have this document I drafted this document. It's basically my plan for getting out of debt in three years. And it was October 2004 I thought by December of 2007 I could be completely out of debt wrote up the plan and then a couple of months later on my personal blog because I didn't get rich slowly yet I hadn't started it. I wrote an article called Get Rich Slowly. It was basically me trying to crystallize all of these ideas that I had accumulated from the various books that I was reading. And I said you know it looks as if there's no reliable way to get rich quickly. But there is a reliable way to get rich slowly. And here's how it's done. And I said this is what I've learned. And for whatever reason that article went viral or what passed for viral at the time it wasn't anywhere near like what viral would be today. And then a few months later in April of 2006 I was fishing around for ways to make more money and I thought you know why don't I start a blog about personal finance I'll start a blog called Get Rich Slowly because that article was so popular it'll be the first personal finance blog on the internet I thought. Now I didn't realize there were already several other personal finance blogs dozens of others actually.
blogger, college, debt, families, fitness, library, weightloss
1007 - 1019 Jonathan Mendonsa I think that blind spot was beneficial for you I think that in many cases it's very helpful not to know that there's anything else out there just to assume that you're the first on the scene. I can say that I'm sure that we have benefited from that to a degree as well.
1019 - 1057 JD Roth Yeah well I think that's very true and I actually think that people in the personal finance space whether it's the bloggers or authors or columnists or podcasters I think it's actually dangerous to spend too much time reading or listening to what everybody else is doing because you tend to fall into this echo chamber and you're doing you're just responding to each other. And I think it actually hinders creativity and novelty I guess. So I think it's good to stay up to date and to like read it now and then or to listen now and then. But my advice is not to get too overwhelmed if you're creating in this space.
1057 - 1094 Brad Barrett JD I'm curious about the mindset of that original article. Right. So that original Get Rich Slowly. Now you were mired in debt. You really had no financial background. Right. And you educated yourself you went to the library and educated yourself. Talk me through that time. Like what. What did that process look like. What did you go in thinking you're looking for this magic bullet. Right. But I think you probably quickly realize that there is no magic bullet. Talk us through that entire continuum there from hey I'm looking for a magic bullet too. OK. It's Get Rich Slowly.
debt, library, mindset
1094 - 1198 JD Roth Well at the time it was a little depressing I guess because I really wanted for there to be a quick answer. I wanted I wanted to be able to like dig through and find some magic formula that was hidden away some secret that very few people knew that would allow me to go from deep in debt to prospering overnight. And of course that doesn't exist. You've got to do the work. It's the same thing again going back to the scholarships that we talked about earlier. You've got to do the work. There's no shortcut. So once I resigned myself to that to this idea that oh if I want to get out of debt if I want to build wealth I actually have to put in the effort to make more money. And I have to spend less, spending less which the big thing for me because I was making a reasonable salary I was making right around the average for Americans at the time. So that should be plenty of money right. But I was spending money on all sorts of stuff and plus I had the ongoing credit card debt. I think the closest I came to finding a magic bullet as far as getting out of debt was when I read about Dave Ramsey's version of the debt snowball where you prioritize by paying off the smallest balances first and it's not mathematically optimal obviously but it's psychologically optimal. And once I found that once I latched onto this idea of using the Dave Ramsey flavor of the debt snowball it made a huge difference because I was able to pay off two or three credit cards within a short amount of time because I had some smaller credit cards. And sure I still had the huge balance that $15000 credit card or whatever it is I don't remember what the balances were but it didn't matter because I achieved those quick victories which gave me a little bit better cash flow because the money wasn't going to the minimum payments every month and I was able to apply this psychological momentum and just keep at it.
debt, ramsey, scholarship
1198 - 1231 Brad Barrett Yeah I agree with that snowball I mean clearly you kind of said it's not mathematically optimal. And I think just for the audience. That's because you're not the math would suggest attack the highest interest rate debt first. And that's what JD was alluding to there. But what happens with this debt snowball is you pay off your smallest balance so the minimum payment or whatever payment that was previously going to that then gets rolled into your next smallest amount. So it helps to accelerate the payment of each subsequent debt. And that's this quote unquote snowball. So I just wanted to point that out.
1231 - 1271 JD Roth From my experience you know now that I've been writing about money for almost 12 years. Oh my gosh it's been that long. That's a long time now that I've been writing about money for almost 12 years. I've crunched the numbers before. And sure the Dave Ramsey debt snowball does lead you to pay more than you would normally have if you were attacking the high interest rates first. But it's actually not that much of a difference. And what I always say is if you are going to succeed with the Dave Ramsey version of the debt snowball and you would fail because you get frustrated with the other version what does it matter. It's if you're successful. That's what's most important right. It doesn't matter if you're doing the optimal thing if it's not going to work for you. Try sub optimal and if you're able to do it that's what counts.
debt, ramsey
1271 - 1276 Jonathan Mendonsa Yes suboptimal and following through is infinitely better than perfect optimization where you just you bail out.
1276 - 1279 JD Roth Yeah. That's yeah. You said it much better than I did. That's it.
1279 - 1342 Jonathan Mendonsa I am going to latch onto that put that in quotes put it on my blog where he said I said something better than he did. So this is actually really interesting because Dave Ramsey was the gateway to personal finance for many of us myself included. And I think that a lot of people in our audience even people that disagree at varying levels with the Dave Ramsey principles should at least be intellectually honest and say that he opened up the gates for many people to latch on to personal finance where they would not have otherwise. And so I guess what's so interesting to me is that you started with this idea of seeing how you could implement the debt snowball in your life. But I know that your journey took on a very unique flavor. You did something that Dave Ramsey wasn't doing Dave Ramsey was giving you this method or this all encompassing game plan that he had created. Yours was different. You brought people along for your own journey you told stories about your life and interwoven with the principles that you had found valuable along the way. How did that change over the six years of your writing over at get rich slowly. Was there any intentionality behind that progression and just what was the mindset of the the author and over that period of time.
debt, mindset, ramsey
1342 - 1425 JD Roth First of all there wasn't a lot of intentionality there. I always say that I'm an accidental personal finance expert in that's true. I mean it's not like I have any kind of education in this other than the school of hard knocks. But as I was writing I was kind of hashing out a philosophy I didn't know it at that time but I started basically tabula rasa. It was a blank slate. I didn't know anything about money and so I had to learn all of this stuff. And I had to evaluate what I was reading. Do I Do I agree with this or do I not agree with this. Does this match my experience or does it not match my experience. How do other people feel about it. How have other people succeeded following this particular author's advice or whatever advice I was finding. And so as time went on at get rich slowly at first it was kind of scattershot. It was like a shotgun approach I was just like writing about all these different subjects. Here's how to do this kind of investing. Here's what index funds are here. Here's this other type of investing. And eventually I narrowed my focus so for example I realized oh I really do like index funds and I understand the philosophy behind them. And I really latched on to them and that became my investment advice. Whereas when I started to get rich slowly I didn't have any particular investment advice. So eventually over the three years that I owned the site and then the next three years that I was managing it I went from being so scattershot to actually having specific philosophy and specific points that I was trying to get readers to understand and to take to heart.
1425 - 1431 Jonathan Mendonsa JD What sort of window would you say that you were. You became the gateway for personal finance bloggers.
1431 - 1451 JD Roth I don't know. I mean to me it's still odd to even think that that happened. Get rich slowly became very popular by I would say early 2007 it had nice readership numbers and it was like that well even up until I left the site still had huge readership. I say 2007 to 2010 is the heyday of get rich slowly. In my mind.
1451 - 1484 Jonathan Mendonsa Yeah for sure. And I remember during the heyday of get rich slowly it seemed like every single new personal finance blog that popped up inevitably contained back links to get rich slowly. It was just this you know repository of information and ideas and I'm and I'm curious because you had you had such engagement from your community you had so many comments that were landing on your blog so many different ideas that had to have fed into that and it became I'm just curious to what degree do you attribute the readership in the community that formed around that site. Did those help generate the articles for the following years.
1484 - 1539 JD Roth Yeah absolutely Jonathan. You're like hit right on this to me. The audience at get rich slowly is what made get rich slowly it wasn't me. I was more like the caretaker or the tour guide or whatever and everyone else around me reading and commenting and sending me ideas. That's what made the site great. And so I learned quickly that oh my readers have some amazing information that I need to share. And so I tried to create regular features for example. On Friday I would have what I called the ask the readers column and that would be a reader question. I would submit it and ask for reader feedback on Sundays I would have a reader story and it could be a story about how the reader succeeded with money or how they failed with money. And does all fed into creating the community at the site. And you're right there were hundreds of comments on the articles at the peak but it also gave me then more ideas about what to write about. It helped me see what people wanted to write about and what they wanted to learn.
1539 - 1571 Brad Barrett That's fascinating because that is the direct parallel to what we see here at ChooseFI. I think humans crave community and I know I saw it when I was a reader. JD I was a reader of yours for those six years you were there and to see those hundreds of comments on every article and you know I would read every single one it was it because it felt like you were part of something you weren't just an island unto yourself. And I think that's what you know moving into the FI community a little bit and choose FI in particular. We have tried to make this as inclusive of a community as humanly possible.
1571 - 1624 JD Roth And I think that's a huge huge point. I've been sitting here thinking the word inclusive for the past five minutes because that is it was a huge part of what I did it get rich slowly a lot of places and this is not wrong but a lot of other writers have very strong personalities and they do what they write or their attitudes or whatever it is they tend to discourage certain kind of readers or involvement. And again I'm not saying that's wrong. That works for them. Some people build huge audiences doing that. But for me that's not who I am as a person and that's not how I wanted the site to be. And so I tried to be very inclusive and I tried to I tried to keep politics and religion off the site as much as possible. I took a political stance on one major topic and only one major topic the entire time that I was at get rich slowly and then I tried I'd be open minded to everybody that came in because I feel like everyone is trying to do their best in my goals to try to help them be their best too.
1624 - 1660 Jonathan Mendonsa Yeah I think that's so powerful and it's so interesting to hear you verbalize that because as Brad and I have had extensive conversations about this it doesn't matter which particular political ideology you lean to in order to be able to enjoy and appreciate and benefit from personal finance and from the FI community. This is a huge tent. And ultimately what we're pursuing is this idea that if you make just a few right choices if you decide to live this life just slightly smarter than your neighbors you can win and you can reclaim your time. Why does it have to be political. Why do we have to include or exclude people based on some of these other beliefs when there's room for all of us to win with this message.
1660 - 1708 JD Roth Yeah I think you're exactly right. And one thing that frustrates me a lot. With personal finance writing and this is true in the financial independence community too is this notion that there's a right way to do something there's a right way to pay off debt. There's a right way to do housing there's a right way to pursue financial independence. For me there are optimal ways. Yes it's true there are often optimal ways but that's not always the right way for you or for me or for anybody else. My motto at get rich slowly was Do what works for you. And what I meant by that was hey take all this information out there and pick the elements that are effective in your life that bring you the results that you want and ignore the rest. It doesn't matter if somebody is telling you that oh no the right way to get out of debt is to pay off your high interest rates first. Yeah that's optimal. But that's not necessarily right.
debt, housing
1708 - 1746 Brad Barrett Yeah I would love your continued use of that word optimal. And I think that's a word that I'm going to use going forward. I think that's the perfect way to describe it. Sure. The math would suggest X Y and Z is optimal but we constantly talk about. You have to do what works for you and we're not doctrinaire about anything you'll never find. You need to do these 7 things to be a part of the Choose FI community or the greater FI community you know that's that's ridiculous. There are hundreds of different levers to pull and you need to figure out what works for your life. But you do need to take action right. You cannot just sit there and say oh that sounds great in theory you need to take action.
1746 - 1768 JD Roth Absolutely. You know action is so important to me. The older I get the more I see that action is the number one thing that separates successful people from unsuccessful people in all aspects of life. If want to be successful about paying off your debt or achieving financial independence. You have to take action. It's not enough to think about it. It's not enough to read about it. You've got to do some stuff.
1768 - 1782 Brad Barrett Yeah no not only then and what you talked about earlier with the internal locus of control. I think those two things if you put them together if you believe that you can affect change on not only your life but the world around you and you take action man that is a great combination.
1782 - 1811 JD Roth And I think being resilient because one thing to note is shit happens right. Shit happens to everybody. And so it's not enough just to say that oh I'm going to have an internal locus of control and make the choices for my own life. You want to do that but you also have to recognize that not everyone starts from the same place and you're going to have bad things happen to you. But when the bad things happen you have to have the resilience to say OK yeah this happened. It sucks but I'm going to move forward and here's how I'm going to solve it.
1811 - 1828 Jonathan Mendonsa JD somewhere along your journey in the personal finance community but also in the financial independence community you did create an overarching philosophy for financial independence and financial freedom and you distilled that down into an info graphic called the stages of financial freedom. And I'd love to hear you explore that with us today.
1828 - 2021 JD Roth Yeah. So it's important to realize I think I mentioned this earlier that when I started writing about money I didn't have any kind of philosophy. I was like taking bits and pieces from all over the place and trying to figure out what I believe in. Even when I left Get Rich Slowly. After six years writing there I began to crystallize a philosophy but it wasn't all the way crystallized. And it was only by taking several years off to contemplate my navel to exercise to travel to do all these things. During this time all these ideas began to become more solid in my head I guess. I keep using the crystallized metaphor I don't know why and while I was doing that I started reading about financial independence because it was an idea that I really hadn't been familiar with before and as part of that I discovered Mr. Money Mustache as many people have. And Pete has an amazing article called The shockingly simple math behind early retirement and that article it like blew my mind because he made it very simple. Again not easy but simple. He demonstrated how that math worked and I realized oh you know financial independence. It all goes back. To what I called the fundamental equation of personal finance which is what you earn minus what you spend is what you have left over. Very basic right. But if you can create that gap if you can stretch that gap you can add a lot left over which is an idea that is shouldn't be so amazing and mind blowing but it is and I think it's true for all of us that find financial independence we're like oh this is this is amazing. If I can create the gap there so coming now to the infographics that you asked me about during that time off I managed to just jot notes down and eventually developed this philosophy that I thought could be applied. It's basically like an introduction to financial independence that this philosophy that I developed in is not really philosophy it's more like a methodology. And I realized that when we talk about financial independence Everyone's always talking about what I consider one of the final stages that they're talking about. When you finally reach that point that you have enough money that you never have to earn anything again for the rest of your life as long as you maintain your lifestyle the way it is and that's what most people mean when they say financial independence. But talking to people talking with Jim Collins for example he talked about F-you money talking with other people I realize there are definitely many stages of financial independence is not just one point and boom you're there. It's a it's a linear progression. And so I realized that for me in my own life when I was deep in debt I had a sort of financial dependence there. That's different from somebody who's working in there almost to the point where they could quit their job if they wanted to. And so I sat down and I drew up this list six is actually seven because I have a zero stage but six stages of financial independence and they start out stage zero. You're not independent at all you're dependent on everybody else because you're in debt. Or maybe you still live at home. Stage one is what I call solvency and this is where you're actually earning more than you're spending and that's a degree of financial independence right there where you're earning more than you're spending it allows you to pay off debt. It allows you to save. So these steps just progress until you reach financial independence. As we know it or as we talk about it most often where you've got enough saved that you'd never have to worry about money again.
debt, travel
2021 - 2044 Jonathan Mendonsa Yeah it's interesting when you go through those different stages it's this continuum right where the control is continually shifting to your side of the equation. And long before you get to 25 times your annual expenses your ability to dictate or design the future you want to live into is becoming more and more apparent and you can take more risks. You can take more risks you make better decisions because you're operating from a place of strength.
2044 - 2082 JD Roth Yeah that's exactly right. And that's what it is. The further you progress down the path toward financial independence or financial freedom the more control you have. And it all comes from creating that gap between what you earn or what you spend. And again it's so simple it's such a simple concept that most people overlook it. They don't even think about it when you go through your day to day life. Most of the people you talk to they're not interested in financial independence or maybe they would be interested if they even gave it a moment's thought. They think it's like something that they can never achieve, they're like How can I ever do that. I don't have enough money and they just don't understand how the math works which is too bad.
2082 - 2105 Brad Barrett And so JD these first two stages solvency and stability. These could really work for anybody regardless of what their savings rate is. You know we talk about kind of absurd savings rates 50 78 percent in the FI community but for regular people out there who are mired in debt just like you were it could be the difference for solvency could be a 5 percent savings rate or 10 right and just making choices.
debt, savings
2105 - 2130 JD Roth Yeah I think that's exactly right. It's an important point to get across. It's something that I want to start writing more for people who are just getting started down the path to financial independence I guess or people who are still struggling with debt who haven't even thought about financial independence at Moneyboss I feel like mainly I've been preaching to the choir. It's stuff that people already know. I want to reach the people who haven't really thought about this before and who are new to the concepts.
2130 - 2153 Jonathan Mendonsa You know we talk about stage 1 being solvency and stage 2 being stability and those are easily understood. But I think where people get bogged down and where we lose people to attrition is stage three in stage four which is Agency and security. Would you take a few minutes. I guess the word is unpack that. That's our signature word. But go through like what is the difference between those two. And how do you define them.
2153 - 2240 JD Roth Well OK. So for me I think Stage Three actually after having achieved stage 3 and working towards stage 4 this is where most people struggle and I'll just summarize them briefly. So stage three is what I call agency. This is what Jim Collins would say where you have F-you money. You basically have the freedom to live and work as you as you want. I mean you've already paid off all your debt including your student loans and your mortgage or I mean some people would choose to carry a mortgage but they have the cash to pay it off if they want. I'm not going to get into that argument here and they've got enough bank that they could quit their job at a moment's notice without any kind of worry about the future. This is stage three stage 4 is security and that's when your investment income is enough to cover basic needs not your current lifestyle but basic needs you. I mean if you had to and that's all the money you would ever have in your life you could go find a cheap place to live eat ramen every meal and that's stage four. But there's a huge gap between agency and security between having F-you money and then having this raw kind of financial independence. And people really struggle with that because whereas the getting out of debt might take a year two three years depending on how much you have and then these other stages come quickly moving from F-you money to actually that basic financial independence that can take a decade. It can take 12 years 15 years it can take longer if your savings rate isn't high. And that's where people get bogged down and they get frustrated and they lose their way.
Jonathan_Catchphrases, college-loans, debt, savings
2240 - 2335 Jonathan Mendonsa I really want to focus on that it'd be easy to breeze through Stage Three and Four and just talk about stage five which is financial independence. But the value of resources like money boss and get rich slowly and choose FI and just the fi community at large is that they keep you motivated from the progression from agency to security. You need someone that's walking right alongside you someone that's producing new content and telling giving you that extra little piece that maybe you hadn't considered before and that's the value of having a travel guide someone like you documenting the journey right alongside the audience. When you see what bloggers are doing now that's the template that we use and we got that from you. Thanks. Well you're welcome. So finally stage five this is the one that gets the highlighter. This is the one that we always talk about this is the idea of financial independence and I don't think our audience really needs to be reintroduced to that concept because obviously our entire show is around that. Generally we define it as having twenty five times your annual expenses. But essentially it's this point in time where you have this perpetual money making machine and your money is actually earning enough for you that work at this point is optional at least based on your current expenses and your current standard of living. But what I think would be extremely beneficial would be if you could just maybe take a few minutes and talk through what your life is like in this stage five. This financial independence stage and before you go into all that maybe even take a step back and walk us through that moment in time if you can remember it where you did start to walk through those early stages those stage 1 2 3 and 4. I think that would be extremely beneficial from our audience just to get your perspective on that journey.
blogger, travel
2335 - 2427 JD Roth Well yes I can remember the stages but again I was not defining them in that way at that time. Yes the concept of financial independence hadn't occurred to me yet. I had read a little bit about it but hadn't latched onto it but I know very well. I remember the feelings when these different events occurred. So for example the solvency that happened right around the time I started get rich slowly I realized that in order to achieve solvency I have to earn more than I spend. And right around get rich slowly that's right around when that started is when that happened I started cutting my cost. I actually had a positive cash flow and that positive cash flow was a huge huge thing. And then I remember when I paid off my consumer debt that was in December of 2007 right on schedule I forgot to mention that I mentioned that I had created this plan and I wanted to get it done by December 2007 and that's when I did it. And then stage three in my little roadmap is an agency where you have the freedom to live and work as you choose. And that occurred for me very quickly after I reached ability cause very soon after I paid off the consumer debt I was able to quit my job working for the family box factory and just work full time on my websites. And that was amazing. And then from there yeah I mean I'm still in stage 5 which is independence the financial independence that we're familiar with. I don't know whether I will ever reach what I've got down to stage six which is abundance where you have so much money that you don't ever really have to worry about it no matter what you spend it on. Like most of us I still have to live just a modest lifestyle but my my savings can support that.
debt, families, savings
2427 - 2452 Brad Barrett All right. JD So you are at stage 5 which is financial independence. Right. But again it's not this abundance where you can just go out and buy private jets and yachts and whatnot but you're living a life that is self-directed. Right. You have enough to sustain yourself and to live a very comfortable life. But but what does that life look like. Both financially and just how do you fill your time. What are your days look like.
2452 - 2566 JD Roth That is a great question. And it's something that I've had to ask myself and discover for myself over the past few years. Right now this summer my time has been spent working on the house that my girlfriend and I bought. We bought a new house it's from 1948 had tons of stuff wrong with it. The previous owners hadn't maintained it. So my time has been dedicated to fixing up that house and getting it prepped to be a space where we can live and raise our family of pets. We have a dog and two cats. But that's a change in direction from where I had been. I had been living closer into Portland. I live in Portland Oregon you know a very walkable neighborhood that I I loved but increasingly had become less right for who I am and where I am in life. And so I think one important thing to point out this is going to dovetail into a key part of my philosophy is I think it's very important for all of us to get as clear as possible on what our personal mission is. I talk about personal mission statements and I write about this a lot at money boss and most people just kind of live reactively right. They go through life. They do what's expected of them. They do what they think they're supposed to do. They buy a house because everybody buys a house they have kids because everybody else has kids and it's less conscious than I want it to be or then I think it should be. And so what I've tried to do is create this personal mission statement that directs my choices and I encourage other people who read Moneyboss to do the same thing. So what I'm doing with my lifestyle when I'm moving away from the city and moving in is not really in the country but you know it's a place with an acre and a place for me to go on walks through the neighborhood is I'm trying to a line to my life with what my mission is. And part of that I'm very excited tomorrow. I've got a shed coming in. It's one of these tough sheds that you can get from home depot that is going to be my office that's going to be my writing space. It's a blank canvas that I can put the bookshelves in. I can do everything I want with that. And that's going to be Moneyboss HQ man.
families, housing
2566 - 2570 Jonathan Mendonsa What. What comics are going to make it into the shed.
2570 - 2594 JD Roth Well that's a great question. If people have been following me they know that a couple of years ago I actually sold the bulk of my comic book collection. I sold it got twenty eight thousand dollars. It helped finance. Yeah. And so a lot of money it helped finance the RV trip that my girlfriend and I did around the United States so I have very few left and they're not comics anybody would like that the stuff that I grew up reading as a kid that I love.
2594 - 2615 Brad Barrett So. So J.D. 28000. That's amazing. Well it's funny actually is on a handful of podcasts in the last couple of months. I've talked about having this huge collection of baseball cards and comic books and wanting to unload them. Again actionable tip wise like Do you have any tips like how did you did you do it through Ebay. Did you have a local comic book seller like what did you do.
2615 - 2668 JD Roth OK. So I have actionable tips and a lot of thoughts on this actually. So you're going to maximize how much you get if you have a collection if you have some collectibles. You will always get the most bang for your buck by piecing them out selling each item like each comic book or each baseball card individually via ebay or whatever it is through whatever venue. However that takes a lot of work and a lot of time. And in my case I didn't want to do that. So I reserved like the 100 most valuable comic books. But then I took the bulk of the collection and I sold them to a place called my comic shop dotcom I think it's in Dallas and they basically you make lists. They have it automated you make a list of what you have and what condition you think it's in you send it to them. They give you an offer and it's easy. And then I took the rest of the comics the most valuable ones and those I did piece out because that was worthwhile to do.
2668 - 2676 Jonathan Mendonsa But how awesome is it Brad that we found the one FI personal finance blogger out there that could give you actionable advice on how to sell your comics.
2676 - 2692 Brad Barrett Dude and. There's no doubt about it but I suspect there are other people. You know I don't bring this up just because I'm looking to sell my dopey comic books. I suspect there are many people out there with collectibles and you know you have them in your attic or in the garage or something and you want to sell these things and it's difficult mentally. Right.
2692 - 2733 JD Roth Well and the thing is a lot of times the things that people think are worth money they are theoretically worth money and they're a price guys that tell you they're they're worth money but they're only worth what somebody is going to pay you and you're going to be hard pressed to find somebody who's going to pay you. I go to antique stores and I see they have these comic books in it. They want outrageous prices for them. I think there's no way anybody is going to pay a hundred dollars for a copy of Richie Rich number 26 or whatever. It's just not going to happen anyway. You've got to be methodical about your approach. You know I should write an article on this. I did this for Reddit or some other site and I gave all my advice and it was relish the I should do a whole hour.
2733 - 2791 Jonathan Mendonsa I was totally thinking this is generating new content for JD to go write an article as you were talking about it. But what really strikes me aside from the fact that we're actually talking about comic books is the idea of relatability and tying threads to your audience and what you think is so unique and specific to you. Thousands if not hundreds of thousands of other people are looking for ways just to do life just a little bit smarter and we focus in large part on personal finance aspect. But I think why the reason Jamie's blog not only broke through the noise but defined personal finance for a generation was this idea of living a journey out with other people of like minds that are just looking to see how someone else that's a smart guy that's willing to learn new ideas and tactics and share them. How how is JD going to do something. And because you know whatever he comes up with it's not going to be a grazing mentality it's going to have some thought put behind it. And I think it's that that was the secret sauce in the old get rich slowly and also over at money boss that it's that personal aspect.
2791 - 2807 JD Roth And also I think going back we mentioned we touch on this briefly is I try not to be prescriptive. I try to I try to be descriptive. I don't try to say this is the way you have to do it. This is this is the right way I try to say this is how I'm doing it. And this is how other people have done it. And this is what's worked.
2807 - 2844 Jonathan Mendonsa So JD One of the reasons we've been reserving this particular thread or this particular conversation for use because you're uniquely positioned to answer it as someone that was there literally at the beginning and we've talked a little bit about the progression of the blogosphere the progression of blogs being this journey that kind of walks alongside you through this process. I would love to get your insight and input. Where do you think this movement goes. I would say personally Brad and I both believe that the FI community is on almost this hockey stick trajectory where you're seeing it almost almost right there at the cusp of getting mainstream attention. Where do you see this movement going in the coming. You know two or three years.
2844 - 2930 JD Roth it Is tough to predict honestly. I mean I just read an article from Gwen that fiery millennial today. She writes about what she calls where she called the Financial Independence threshold early retirement threshold and basically what she's trying to describe is critical mass. She's talking about how it starts off. Financial independence started off as this fringe idea being pushed primarily by books like your money or your life. And bloggers like Mr. Money Mustache it's this fringe idea. And then it gradually seeps out and more and more people latch onto it. So for example I hadn't considered financial independence until I'd started reading Pete's stuff and realized oh wow this makes a lot of sense and here's how it fits with my own philosophy. And so then I became an advocate of financial independence and trying to push people towards financial independence. And then we'd helped other people you guys get on board you're doing your podcast. And it just spreads and spread. So I think what Gwen is trying to describe with her article is this kind of critical mass is being achieved and more and more people are wanting to talk about it at least with me and maybe that's because they know I write about money but they want to I feel like it is going to become more mainstream it's never going to become hugely mainstream because there are a lot of perceived sacrifices that you have to give in order to achieve financial independence right. You have to agree that you're going to live well below your means in order to create that gap in order to create that high savings rate. You have to make some sacrifices in the short term and that's not for everybody.
blogger, savings
2930 - 2936 Jonathan Mendonsa Alright JD Well before we let you go today we're super excited to introduce you to the hotseat. Have you heard our hot hotseat yet.
2936 - 2937 JD Roth I have not heard your HotSeat.
2937 - 2938 Jonathan Mendonsa Oh yes.
2938 - 2940 Brad Barrett You're in for a real treat.
2940 - 2948 JD Roth Oh no. I'm scared.
2948 - 2976 Speaker In a world drowning in debt and rampant consumption. Trapped by the chains of lifestyle inflation. These questions highlight the secrets of those who are broken free. Welcome to the choose F-I hot seat.
2976 - 2977 JD Roth Wow.
2977 - 2986 Brad Barrett You are the first guest. We're recording where we're seeing the video. And just to see your face was priceless. Thank you for that.
2986 - 2988 JD Roth That was amazing.
2988 - 2991 Brad Barrett Thank you fiver. Jonathan found some of the fiverr to make that.
2991 - 2994 Jonathan Mendonsa Use the resources that are available to you.
2994 - 3004 JD Roth You know if I ever do a pod asked if I ever do my own podcast. I hope someday I will I'm going to get Jim Collins to do it and to do some sort of intro for me because he's got that radio voice.
3004 - 3014 Jonathan Mendonsa Oh he does it. Oh gosh she does. Yeah absolutely. Couldn't agree more. In fact it was that Gravell aspect that I was looking for when I found someone to do that intro. You 100 percent nailed it.
3014 - 3015 JD Roth Nice.
3015 - 3020 Brad Barrett All right JD So the hot seat question number one your favorite blog that's not your own.
3020 - 3048 JD Roth Well let's see. You know the one I've read the longest and probably my favorite is Khaki dot org Jason Khaki's blog which is it's about nothing is about everything. Now it's just he posts several links a day and it's always fascinating stuff. My favorite one this related semi-related related to personal finance is David Kane's blog called wrapped itude and it's not really about money but it's about becoming a better human and I think he published his great essays. I love his style and approach.
3048 - 3061 Jonathan Mendonsa Awesome. Wow. You know I haven't heard of either of those so it's always cool when you get some new resources to go check out. I'll definitely link to that in the show notes alright question number two your favorite article of all time. Now this could be an article that you wrote or somebody else's.
3061 - 3107 JD Roth Oh this is tough. There's so many good ones that I like from all sorts of places including myself. Pete's article and Mr. Money Mustache about the shockingly simple math of early retirement. That's one of my favorites because it so revolutionized my own personal approach to money in my own personal philosophy about personal finance and my favorite stuff for myself tends to be not financially related. I wrote a couple of articles at money boss that built on some stuff I had done to get rich slowly and they're called How to build confidence and destroy. Fear is the first part and how to be happy and lead a meaningful life is the second part. And I've got a third part that I want to write but never going to happen. But those two articles are my favorite articles that I've written because they feel like they could get some real good information about how to approach life and how to lead a better life.
3107 - 3110 Jonathan Mendonsa All right. Question number three your favorite life hack.
3110 - 3149 JD Roth Well you know I think we kind of touched on this earlier my favorite life hack is the notion that action creates motivation. I think a lot of times people wait for the motivation to come before they get started on something like lose weight or start saving whatever it is. But the reality is action is what actually creates the motivation the motivation to ask them first. The action has to come first. And so what this boils down to is say you want to lose weight or you want to be a runner whether you go out and you run and once you run in the first five minutes. But when you're into it you're like OK I can do this. And it creates the motivation and you get you finish the run. I don't know anyone who goes out for a run and then decides like 10 minutes and I'm going to stop.
hotseat-lifehack, savings, weightloss
3149 - 3153 Brad Barrett All right JD question number 4 your biggest financial mistake.
3153 - 3218 JD Roth Biggest financial mistake. Well there are several different ones I could talk of. OK so biggest As far as like magnitude is when it came time to sell on get rich slowly back in the day. I took an offer that was 30 percent less because I didn't want to stick around. I didn't want to sign a contract that I would stick around for three years to work on the side. And then I stuck around for three years and worked on the site anyhow. And so I essentially sacrificed 30 percent of what I mean I could have had a lot more money. That magnitude wise. That's the biggest mistake psychological wise. I think the biggest mistake that I made is when I was young This is 1995 I'm struggling with a credit card debt. My father passed away and he left some life insurance money. He didn't have anything that he could leave in a will or anything. But he left us a few thousand dollars each of life insurance money and I didn't use any of that to pay off debt maybe I paid our 500 dollars or a thousand dollars but I took it and I went and bought a new computer and and some comic books and when I look back on it that is probably one of the dumbest things that I've done just from a psychological perspective.
debt, hotseat-mistake, lifeinsurance
3218 - 3222 Jonathan Mendonsa All right. Question number five the advice you would give your younger self.
3222 - 3260 JD Roth Advice for younger self don't care what other people think what does it matter. When I was young so much of what I did I did based on what I thought other people like I said there's a couple of times in the show I think I was basing my actions on what I thought I was supposed to do. I was trying to impress other people I wanted other people to like me. The older I get the more I don't care. Yeah. Obviously it's nice that people like you. Right. But more and more I make the decisions that are right for me and I don't care what other people think as long as I'm not harming anybody else. I do what I want.
3260 - 3268 Jonathan Mendonsa All right. And then we you get a bonus question for you today your favorite purchase made on Amazon.com last year or if not Amazon your favorite purchase in general.
3268 - 3291 JD Roth Mmm. My favorite purchase in general from the past year is our new house because despite the amount of work remodeling that we're having to do it. I love the place but my favorite Amazon purchase. Believe it or not it's like this is just 15 pounds 10 maybe it's a pound of bar mix. So tasty is you know it's like pretzels and peanuts with Cajun.
3291 - 3317 Brad Barrett JD That's unbelievable because we just ordered that. So I want to trade notes with you will put in the show notes of what especially you bought because you know we bought a trail mix from Amazon. It was like up getting a coupon to get it for free. And my wife Laura said it is literally the best food she has ever eaten in her whole life. Like. I kid you not I. Yeah. We will have it in the show notes for the one that we got in the one that you got as well.
3317 - 3319 JD Roth All right. Sounds good.
3319 - 3323 Brad Barrett All right. I know it sounds like hyperbole but I kid you not like this stuff is delish.
3323 - 3326 Jonathan Mendonsa Literally. I want to use the word literally.
3326 - 3330 JD Roth And you know that bar mix that I got. It's so tasty it's with beer.
3330 - 3334 Jonathan Mendonsa You better get back into that cross fit routine that's going to destroy you.
3334 - 3335 JD Roth I know.
3335 - 3351 Jonathan Mendonsa OK Brad. Did you get the feeling like we've been talking to Jay for like an hour and this entire time in my mind. What came through is just like passionate love of get rich slowly and the whole time I'm thinking. J.D. is there an announcement you want to make.
3351 - 3402 JD Roth Well you know. Yes. So I do love get rich slowly and I've always loved Get Rich Slowly and while I don't regret having sold it because hey it helped me achieve financial independence. I miss so much about it. I miss the community. I miss the platform. I miss the branding. I miss the freedom. I mean money boss is great. I love money BOss but I feel like a box myself into a corner and I can only write about very specific things there whereas get rich slowly. I could write about anything related to money. And so a few months ago the people who bought Get Rich Slowly from me approached me and they said hey would you be interested in buying the site back. And I said well let's talk about it. And so we've been talking about it for a few months and we finally had terms we've agreed to terms and it looks very likely that yeah I'll be back running and writing at get rich slowly very soon.
3402 - 3407 Jonathan Mendonsa I think that in the personal finance world that might break the internet.
3407 - 3441 JD Roth And it be awesome. I'm so I'm trying not to be giddy. I told you guys earlier before we started recording that for months I have not allowed myself to get excited about this because I know there's there's a million different things that could go wrong right. They could decide they want to keep it. I might. That stock market might crash and all of a sudden they don't have money to buy it. All sorts of things go wrong and it's only now that I actually have written paper work and we're like discussing where commas go instead of discussing the terms that I'm finally allowed myself to get excited and I'm very excited.
3441 - 3453 Jonathan Mendonsa It's like this giant homecoming or reunion. I'm so excited for you if it goes through. I cannot wait to tell our community about it because there's so many people that discover personal finance through your blog and frankly have missed you.
3453 - 3454 JD Roth Yeah.
3454 - 3464 Brad Barrett Yeah. This is an amazing announcement just in. And I can hear just the joy in your voice. I mean it's exciting for you it's exciting for us it's exciting for everyone. So a hearty congratulations.
3464 - 3464 JD Roth Thank you.
3464 - 3475 Jonathan Mendonsa J.D. thank you so much for coming on the show and sharing your time with us. And there's going to be a lot of people out there that are going to want to connect or reconnect with you with your new project. And what's the best way for people to connect with you.
3475 - 3522 JD Roth The best way is to head on over to moneyboss dot com. That's where I've been writing about money for the past couple of years. My premise there is that everyone understands that a business needs to make a profit in order to survive and keep doing what it wants to do. But what few people understand is that people need to make profits. And so what I want you to do is be the boss of your own life. I want you to be the chief financial officer of your own life. I want you to be a money boss. You can also find me on Twitter. I'm at J.D. Roth ROTH And I'm not the best Twitter person in the world on Facebook. The money boss Facebook group is not as active as I want it to be so I would love it if some people would come join the money boss group and like contribute. I know that I need to lead by example there I can be more active too. But I would love for the Facebook group to get traction.
3522 - 3530 Jonathan Mendonsa JD Thank you so much for coming on the show today and for sharing this amazing news with us in our community. I can't begin to tell you how excited we are for you.
3530 - 3531 Brad Barrett Yeah this is fantastic.
3531 - 3535 JD Roth Thank you. I'm excited that you guys were the first people to get to hear about it.
3535 - 3538 Jonathan Mendonsa And I think we're going to get a chance to see you in a couple of weeks if fincon right.
3538 - 3539 JD Roth Oh yeah absolutely.
3539 - 3565 Jonathan Mendonsa All right. Awesome we'll see you there. OK. And just to our audience just to let you know this did actually happen Get Rich Slowly the keys were turned back over to JD. On Sunday the 15th and you're hearing this this morning on October 16 2017 go on over to get rich slowly and say hi. I know how much he would appreciate that. And we were just thrilled to be able to be a part of this wonderful announcement. So thank you for joining us for this special episode today.

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