Transcripts Including Tag: 2ndgenfi

Description: Tax Optimization :: Roth IRA for minors

These are the transcripts that include the tag 2ndgenfi.

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015: Justin Root of Good Brad Barrett Yeah. No joke. So there are a lot of these programs for people like us for people who are early retirees. So I think obviously second generation fires is just beginning. But I think we all need to kind of be aware of this over the next five 10 15 years how we can really hack college. And even at elite schools for nearly free.
015: Justin Root of Good Jonathan Mendonsa I don't think there's a more interesting conversation out there than financial independence. And when you discovered financial independence and the concept of a five for the first time many of us have that light bulb moment in which we start making drastic changes to our life in order to achieve this goal. But this journey often comes with a very predictable and foreseeable pivot. If you're looking for it specifically if you're a parent at some point the conversation has to turn to the next generation and you're looking at it from two perspectives one from the perspective of you are now raising kids while potentially being a stay at home mom or dad no longer working for the paycheck at this point which is a very very interesting look at life. But then the second half of that has to be what does this life look like for your kids. Because you are going to be pursuing and mentoring them from such a different place as maybe the childhood or the family home that you grew up in. This is what we fondly refer to as second generation fire. And to put it suscinctly, How often have you said to yourself What if I knew then what I know now and then apply that to the ultimate life hack which we consider financial independence. How powerful is this to instill these concepts in the lives of the people that you most care about from an early age and how do you do that. We want to explore that today. So I'm excited to have it. Brad here with me in the studio and also Justin from root of God. Justin thanks for joining us.
015: Justin Root of Good Jonathan Mendonsa I'm going to kind of plug what you just said and also I thought that Brad Knight and throwing around for a while so you and Brad and to some degree myself we we essentially and the audience listening to us. We're a first generation fire. This is really hitting right now this idea of doing what you just did. There's a lot of people that are on this path within the next five or six years and it's peaking. I mean it's really hitting critical mass right now with how it's getting out in the mainstream almost every article new article that's posted as has been uploaded to Business Insider these days. I mean mainstream America is just now starting to really hear about this stuff. But what's going to happen very very quickly over the next 10 years is the audience will still be the same but the focus is going to shift from us as first generation fire to now second generation fire so not only did we start to soak up and live and breathe these ideas but we actually did it and we did it at a young enough age that now we're able to directly impact our kids vision for the future. And so while it's still the same audience we're going be thinking you know how can we instill some of these values and this mentality in this work ethic that is required in order to achieve this. All of us at some point in our life are going to have to trade time for money. But how can we use that as a tool to get more of our time back and that how can we help our kids get started even before we did. I mean start helping them to think about these things at the age of 13 14 15 18 as they go into college and before they get saddled with $60000 in student loan debt. And I think that's kind of where we want to finish this. This is absolutely been fantastic and I've loved digging through this information with you Justin but we wanted to take a period of time to really talk to you about another article that you wrote. That's absolutely brilliant and it's incredibly well-thought out. You've gone through everything you could think of on what college is going to look like for your kids as they approach in the next 10 years here using some of the principles that we've talked about just optimizing everything we said that raising a child can cost up to $300000 for the average family but nobody in this room is average the people listening to this don't want to be average. They want to look for an optimized way to do it so can we explore how to pay for college. while you're early Retired.
016R: Friday Roundup Jonathan Mendonsa And it also strikes me that this is another pillar for second generation fire. You know me and you didn't know any of this stuff. When we were in our teens and in our 20s but and also we were starting from scratch or in debt when we're 18 or 20. But if you get yourself into a position where not only are you are you not in debt but you have a six figure you know six or seven figure portfolio and now your kids are coming up to the pipeline and I know there's some very mixed feelings about setting your kids up or leaving them an inheritance and I'm not telling you what you have to do there but even for the people that are talking about not leaving their kids an inheritance I would imagine that there will be they will be imparting to them these ideas to help them get started and make the smart financial choices. And you know if my son is 17 18 20 you know or we're starting to think about what's our first home going to look like. And we're thinking well you could either stay at home to save money right or you know you're a mature person that's really demonstrated that you've you know figured a lot of this stuff out. Maybe we start looking into how we can set you up with your own house hack. And now I get to kind of live it through you to some degree and help coach you through this process and get you set up with that first home and maybe that single decision is enough for you to just you know race toward the FI finish line on your own without needing any of that you know the portfolio that the first generation built. And I can just see that I think that that conversation whatever it ends up looking I have no idea what that conversation is going to look like. I mean I'm I'm not even there yet at the door but I'm about to you know it's going to be a reality soon. So the next you know 20 years of my life in some shape or form are we thinking what is kind of conversation going to look like with my son how am I going to tee him up for that. And I guarantee you house hacking will be on my radar as you know he approaches his 20s. It will be. There's no way for me to know what it takes up a solid portion of my free thoughts now when it comes to how can you just supercharge the path the fly.
016R: Friday Roundup Jonathan Mendonsa And also just for the sake of plugging something but I think it kind of goes to this as well. If you go to our our home page which by the way by the time you see this the home page will be completely different than it as you know was even a week ago. I've done a total redesign on it. The idea was to really allow you all to get deeper into the content and help you just you know see all the different things that we're putting together. And I think it came out really really well. But one of the things that is on there has always been on there is our free book our free ebook the blueprint to financial independence and unpacks idea how with the next generation second generation fire if you implement the different hacks that we've been talking about and put them into this one single story. You know you're going to be you could if you start early enough so second generation fire you can be financially independent by the age of 30 without ever making a six figure income frankly without ever making more than 35 or 40 grand a year. It's just completely doable and so it's not to tell you that that's what you have to do or that if you miss that window you know you can achieve financial independence that's not the point. But it's to illustrate some of these levers how they go together and how you implement them all for that second generation fire. They need it they're not going to need to earn even $60000 a year is not going to be necessary. So I don't know I really like putting together is just kind of a compilation of thoughts that I had in kind of different things that I'm going to be thinking about as I raise my son. So I think I hope they all enjoy that. Just take a look at it. It's only nine or 10 pages so it's just kind of a quick read. But I think you'll like that. We also got a message from Ken and Ken says Hi I recently discovered the financial independence movement and it's been life changing. I've always been relatively frugal but by making some of the simple changes outlined by you and your guest I've been able to optimize taxes investing travel and frugal living. These things add up to making FI feel like an impending reality. Thank you. And then Ken had some suggestions for a future podcast he said. Let's talk about libraries and he said some of his favorite library benefits include digital e-books on hoopla and overdrive. He said this is a great way to get e-books on your phone or Kindle. Travel Guide books and cookbooks used to always buy these now they never do tax preparation guidance museum passes kids programs meeting space and conferences. Ken I tell you what if you want to and you feel open to it. You know if you want to write that up into an article just kind of unpack those in detail some of the benefits. I would love to post that in an article on choose FI to really cause I know how many people in the financial independence space love and feel passion about libraries. I would love to say it sounds like you're really taking advantage of that. Just put that together in an article and sent it our way. I'd love to feature that on cheese FI. That sounds really cool and Ken also said you know I've heard you guys are on the 10 for 10 year figure a lot when talking about the time it takes to reach FI. I think this may be attainable for many of your listeners. It may be unrealistic for those with lower incomes. From reading a number of blogs it seems like the magic number for comfortable and frugal living is between 30 to 40 K per year based on the 4 percent rule that means reaching a net worth of between 750000 to $1 million to reach his goal in 10 years you needed after tax income. Between 90 and 120000. Assuming a 5 percent annual rate of return while this income may or may not be typical among your listeners it's certainly above the median income for the US. I don't mind hearing the 10 year figure mentioned but it ought to be it would be nice to have in context of earned income even an income of 60000 could lead to a working career of 20 to 25 years which is way shorter than the standard. Keep up the good work.
018: Go Curry Cracker Capital Gains Losses Roth Conversion Brad Barrett You know John I think calls that second generation fire and it's an interesting look and I wonder you know how how you're going to deal with this. You know certainly college right so 40000 it's in the hole when you come out like now is there anything that you're going to do differently for your son when it's time for college for him.
019R: How to Start with VTSAX Brad Barrett That's awesome. That's really awesome. All right. Well congrats again obviously. And yeah you know this now second generation fire becomes a little more real for you right.
019R: How to Start with VTSAX Brad Barrett But in all seriousness you know like you said second generation fire has become real for you. You know there's no reason you can start thinking about you know 529 accounts opening up you know Vanguard accounts for your son you know. That's good. That's got to go into the thinking right.
020R: The Friday Roundup Our First Crowdsourced Case Study Brad Barrett I know it's crazy. Thank you general mills and cheerios. I swear them. It's really weird. Like I mean I wanted stuff when I was a kid we thought we were going to Toys R Us and ask for everything but I don't know. It's an and we have not. Honestly we have not been intentional about this. This is not something where Laura and I sat down with some master plan when they were born and said how can we make them into little second generation fire people. That wasn't that wasn't what happened. It just evolved I guess from having this lifestyle of not wanting things desperately. So yeah I know you had some to chat about around this. Jonathan.
021: The Pillars of FI Jonathan Mendonsa That's awesome. I'm glad you rounded that out and honestly millionaire educator to me he is one of my all time favorite episodes because he is the first person that got me thinking about taxes differently. I mean he crystallized the concept of creating these buckets and then filling these buckets and treating it as a game. How can you live your life within these margins that have been set up by our federal government. But if you can do it inside those those those buckets inside those brackets then it just gives you all this other freedom and so the story he tells without episode transformed the way I will forever look at taxes. I'm not saying it was the final note on that. But if you implement the tools that he talked about in that episode and I think that's Episode 13 the unfair FI advantage of teachers if you take that episode and use that as a starting place all these other tools become available to you that really is just one of the perfect episodes to start with. OK guys. Pillar number six we think that's college hacking. We realize that some of you already already passed that point but it still affects you because you probably don't have kids at some point. And for those of you that are listening to this earlier than maybe you still have time to implement it but in general college hacking has been focused at the parents for the kids. This is a second generation fire conversation. They're going to patent that I don't think anybody has second generation fire. If they do you just got a free plug. But second generation fire's the future. I mean can you imagine that child starting at the age of 18 with these tools under his belt maybe graduating college debt free. You know maybe the parent implementing all these tax optimization strategies for them teaching them how it works giving them these tools when they go into their 20s. I mean you learning this in your 30s is powerful you learning this in your 40s 50s 60s is powerful it can change your life. But if you learned it in your teens if you're a parent and you're teaching your kids this stuff this is a game changer. Any single one of these is a game changer put together. You know with great power comes great it comes great responsibility right these are super powers when you apply them to a 20 year old.
021: The Pillars of FI Jonathan Mendonsa And that financial freedom clock starts when you hit zero and the thing that keeps people from getting to zero faster is the student debt. So that's why this is such a big play. Let's let our next generation let's try to get to the point where they're they're starting from broke or starting from zero. You know in their teens instead of in their 30s. Years. Nuff said there. That's one of those will constantly be coming back to if you want more information on that. You can check out our episode I believe it's 15 with Justin from root of good also called second generation fire. And then we went. We had a featured article by Edmund Tee. That is under our college hacking page on our Web site. Check that out where he talks about how he saved his son two years of his life and eighteen thousand dollars by focusing on dual enrollment and then to come soon will be that college. Hacking. I'm sorry the FAFSA hacking tutorial by seonwoo and we'll let you all know when he releases that OK. Pillar number 7. This is one that is very unique to the FI community and in fact I think it's what puts us at odds with you know the Dave Ramsey crowd and this is the joy we get from travel rewards the pure joy that we get from traveling the world for free. So you have this entire army of people and maybe rightly so maybe rightly so they say that credit cards are the devil and you should cut them up and they are and they are ruining lives and you know actually that's probably true. I don't really take issue with that. That is true. They are dangerous. But our audience is a different audience. We're already doing all the math on everything we're already for other reasons not because we don't we. We have the self-control we've demonstrated that we're pursuing other things we're not just purchasing stuff just to purchase that we're already talking about. What's the value of something and how is this holding me from getting back to my financial future. And so once you're debt free and living far below your income all that stuff about credit cards goes out the window and now we can actually start to look at credit cards as a tool that we can use to literally travel the world for free. And it's a completely different conversation. So Dave Ramsey can be 100 percent right and 100 percent wrong. At the same time depending on the audience that he's talking to many people need to cut up their credit cards. I don't deny that I know who those people are. I probably would be in danger of being one of those people at some point in my life if I didn't see what the other side looked like. But I'm pursuing FI and I organize my life in a way to make FI possible. And in that construct that I've created. Credit cards are a tool that I can use to literally take my wife to Italy for free next year if I want and spend a week there you know and I don't have to spend anything extra for it. It is a way that I can go and visit my in-laws in Zimbabwe and Africa I can go to Cape Town. It's a way that I can take my family of four to Disney World for free. It turned something that could otherwise be stressful into a game that I can play and I can only do it because I'm in the fire community and because I know these tools I know about these life hacks they'll allow me to do that. Allow me to leverage it. And that's something that honestly that's something that Brad taught me. He was the one that finally got me in on this on this fun game. And so I'll forever be grateful to him for that. And at the same time I'm incredibly excited that that's something that now we can share with your audience and that you all can benefit from it as well.
021: The Pillars of FI Brad Barrett Yeah there's no doubt about it. And what's funny the second generation fire I actually got an e-mail from Jim Collins yesterday. I didn't tell you this Jonathan. He was listening to a bunch of our old podcasts and he literally wrote an email that just said second generation fire. Great line. Love it. That was really cool. I know you. You coined that phrase so you know now little kudos to you.
021R: May Case Study Jonathan Mendonsa Now he is going to be a mutant second generation fire guy. He has no choice. He has a choice but he only has one choice. Right. Alright then Matt he sent us this and I'll be honest this is really cool man because you beat Brad to it. He sent us a message. Guys this is huge pay attention VTSAX. It's now down to point 0 4 percent. How cool is that just happened. I think it happened like two two or three days ago now right.
021R: May Case Study Brad Barrett Yeah I really enjoyed this comment from Frank. You know what is funny is that as I mentioned on previous episodes my wife Laura listens to all of our shows and she came to me after this last one and she's like oh you got to stop talking about our kids like they're so fantastic or just normal normal little kids. But I think that's true and they are not special I don't mean to make them out to be these little mutant you know FI second generation fires. But we must have done something right. And I think it's just like Frank talked about parents who make these lists and show their kids how to be smart about it. I mean that's it that's about shopping and certainly my wife Laura does that all the time. And it's also it's modeling this behavior that we're not shoving this down their throats at all. I mean the kids would recoil in horror if we did that but we're just modeling this by not buying stuff not wanting things so I think there is there's some learning through osmosis maybe there because we have not been very overt or diligent about it honestly. So yeah just I just wanted to mention that so Laura is not mad at me the next time she hears me going on and on about how great our kids are.
021R: May Case Study Jonathan Mendonsa We got a comment from Frank and this one was more on the Friday roundup last week but he said you know you could probably do a whole show just on raising kids not to want things as with the gym rhône observation it generally starts with you and your spouse being two of those people that you would want your children to emulate in basic everyday habits. And he said as an example and this is a contrast the one would be the parents to take the entire family shopping together as entertainment. And then the second one would be parents who make list and show their kids how to be smart about it and they get in and out of the store as quickly. The stores as quickly and efficiently as possible and he actually had an article that he linked to which will put in the show notes but it was posted on money confident kids dotcom and it basically reemphasizes that point that your kids emulate you. You know you are two of the people in your kids lives and that's extremely powerful especially as we start thinking about second generation fire.
022R: Friday Roundup Jonathan Mendonsa We had some pretty cool feedback on this episode. Matt sent us a comment and he put it in the subject line he put FI teacher nerd alert but this is a really cool e-mail. He said I made a compound interest problem out of this episode and he used it in his algebra class today then him in this class they discussed the math behind why buying a brand new car is not a smart decision. So many people buy a new car right out of college but invest in the amount of a monthly car payment for five years turns into a staggering number when compounded over a 30 year working career. Even after you stop after five years that new car is cool right now. But is it worth not having $200000 later. And he said thanks for the information guys. Teenagers love the idea of FI but no one teaches it to them. How cool is that man that there is one class in America that got exposed to this math at the age of you know 15 to 18 and they're going to get a chance to do something with it. And you know when you really show them what the long term numbers look like there's a solid chance that a few of them will make that slightly better choice based on that math and it will just set them up for success down the road especially if they compound that knowledge with some of the additional stuff that we talk about.
022R: Friday Roundup Jonathan Mendonsa Now that is super cool and he is going to absolutely crush this thing and the math really does work for you and if we can get this into mainstream if we can just plant the seed there's nothing more powerful than an idea this concept that yes you can retire at 35. If you start soon enough you can retire 45 and start soon enough and if you're already in your 30s already in your 40s you can still retire decades ahead of your peers. If you just implement a few of the ideas that we're talking about that idea has so much power and for those of you that have already you know you've made your decisions and you're fine with it. That idea has power for your kids and I just like being a part of it. I love sharing is so Keenan. Thank you so much for that review. And go ahead and send us your address so that we can go and get that book on out to you.
022R: Friday Roundup Jonathan Mendonsa Yeah. And how often is that the case guys. I mean high school is important there's a lot of good stuff that's being taught in high school but we are failing our kids when it comes to some of the most important things. And I don't know why that is I don't know why we can't spend more time doing what Matt did and just giving them the tools they need to ensure their financial freedom and that of their future families and future generations. So this stuff is important and it applies to everybody. I think that's what we see more and more. Everybody needs a baseline of financial education and they're just not getting it. So just making a few changes and the information that we're giving our kids can have a massive impact on our next generation. So I stumbled around a couple of their mentions on the web on saverocity in the finance. He's been listening to a few of our episodes and he occasionally has some commentary on it and I thought this one was pretty interesting. I think it kind of rounds out our conversation. He basically posed the question is your car a cost center or profit center. And I'm going to quote just a small portion of this he said. Financial independence enthusiasts typically frame the question of car ownership. Something like this. Is it better to pay more in rent to live within walking or biking distance of work or pay less in rent but be forced to own a car in order to get to work. In other words you can tally up your total expenses for housing and car ownership. Under both circumstances and the one with a lower total cost is your best bet for achieving financial independence leaving as it does more residual income to invest. The problem with this framing is that it treats your cost as variables but your income is fixed and indeed this is how most people go through life given a job. What is the most cost effective way to build your life around that job. I think this is a really interesting perspective and good insight on his part I think. That and much of the FI community that the argument is just should you commute to work in your car or should you arrange your life to be in a position to be very close to your job where you can bike and make that extra money. And I think his position in that is your income is variable and your income is extremely important. In some cases driving to work will allow you to get a much higher income which is the engine that gets you to FI. And we're going to be talking about that actually this upcoming week on Monday with E.s.i. We're going to do an article called Career hacking how to supercharge your career. But I think that that's a very interesting perspective now in this particular episode. On Monday we were actually focusing on assuming that you're just going to have a car that's what you're going to do. How do you win inside that construct. But I think that's really insightful don't you Brad.
022R: Friday Roundup Jonathan Mendonsa Yeah. And to me that's the mass appeal of the show. You know when you're Listen these episodes and you're thinking oh it's too late for me to apply this to myself. You've got to have kids. And how cool is that that you can mentor your kids. If I knew then what I know now. Teach your kids if you're a teacher. Teach your kids. You know this stuff will change their life. And honestly that single class that Matt had the other day that could be the one thing that they remember 20 years from now I mean Brad do you remember anything that you learned in high school like do you really remember anything you learned in high school. I would remember that.
022R: Friday Roundup Brad Barrett Yeah that's incredible. I mean talk about second generation fire and Matt is making an entire class of second generation fire people so that is really super cool. And what I always say to people is I've thought about this a lot. I remember my first job I worked at one of the big four accounting firms and some of my colleagues who were you know 22 23 year old kids at that point you know we were just getting started but we had a decent starting salary a couple of them actually bought BMW. And I remember at the time thinking just how utterly stupid that was but now looking back and thinking about the compounded cost of that insanely stupid decision. I mean that's as Matt said that's hundreds of thousands of dollars and it's just to look cool. Right. Like what 22 year old kid needs a 30 plus thousand dollar BMW it's just absolutely asinine. So if you get amazing teachers like Matt teaching you at 15 maybe you don't make that decision and maybe your at FI. at Thirty five. Just because a couple of decisions right. This car house hacking like Coach Carson mentioned to us. I mean those two things alone could essentially get you to FI by 35. Right.
023: Career Hacking ESI Part 1 Jonathan Mendonsa That's really cool. One of the things that comes to mind just as we're talking you know I can tell when I'm getting really excited about an idea is I can't wait to get my thought out there and what strikes me right now is the value of having someone be able to coach you from the inside so a lot of us just get our job and we assume that we're just doing the right thing. But in the FI community specifically in the Choose FI community that we're trying to create we're getting to learn the best from people that have really figured this one thing out or maybe multiple things out and I got to think I know you have kids I got to think that your kids are probably really well-positioned as they're going into maybe high school and college. They've got some of these kind of things that you figured out and they're really teed up to maybe get that higher salary. And then when you expand that out to the masses our audience can benefit from this because if they can just take you know the 20 or 30 years of experience that you have and the few things that you figured out and apply that to themselves and then also I mean I know you know how excited we get about second generation fire. If they can apply that to their kids how cool is that. I mean and that's millions of dollars right.
023: Career Hacking ESI Part 1 Jonathan Mendonsa Maybe we should work together to build a product and sell it as a as a project down the road and we can just we can do that instead. We'll get it we'll get to sit out to Ali Baba and then get it sent out. All right cool. Well you know I think this will be a lot of fun. ESI I think maybe you know if you wanted to come back in a few months or so maybe we should talk about fleshing it out for that 14 year old that parent that's wanting to mentor their child through those critical decisions early on talk that through and then just go kind of step by step what that might actually look like and I'm sure I know you have kids. I'm sure those are conversations that you're having with your kids and I'm sure there's many parents out there that would love to know how they should be mentoring their child to really set them up for success down the road.
023: Career Hacking ESI Part 1 Jonathan Mendonsa You know I think there's real value in fleshing that picture out. I love that you're starting the story at 14. You know this idea that I have with second generation fire and taking all the ideas that I learned from these different people and just figuring out how can I give my son one choice. You know one choice. And he's going to learn. They get to benefit from all these different things that we've learned from other people. And I love the idea that you know it doesn't start when you're 30 right whereas most of first generation fire that's where we say we kind of started and occasionally we did something right a few years sooner and then the people that got the head start maybe did it in their early 20s. You know how cool is that that that starts at 14 or it starts at 10 or whatever. And this is what I would do differently starting from. And now we have this you know this right now it's I would say it's probably close to somewhere between 15 to 20000 people that are listening to this show and they're thinking about this for their kids and they actually have now real applicable information they can give to their kids and help mentor them through that period in their life. Second generation fire is teed up for greatness.
023R: Friday Roundup Jonathan Mendonsa Melissa says I wouldn't be working and I would be traveling a lot more. But my house car neighborhood friends activities wouldn't change a bit. Lori says Way less work way more travel and Alan from pop up business school he says. I think there would be some work I would drop and I would probably play a little bit better but unlimited money probably wouldn't change things that much. So guys we appreciate your feedback. We try to include those each week if you want to be part of our growing community and it really is growing. Please go to choose FI dot com slash Facebook that will join our Facebook page and you can join the conversation which as you know we get excited about sharing with everybody. Alright guys. I know we're not going to play it today. But Paul did leave us some more information which I'm super excited to share with you about his plans for college and it sounds like he's planning on doing some college hacking. Now I'm going to save his message for the next round up which we will do I guess next Friday I'll play his ideas for college hacking. But today I wanted to announce that Edmund who is one of our senior writers and contributors here at ChooseFI and you guys I've told you about Edmund before he is probably one of the highest level FI thinkers on the planet and I'm not exaggerating this. I honestly cannot wait for you all to find out more about the work that he's already done and that he's continuing to do. But he's one of our senior writers and contributors at Choose FI and Edmund is going through the process of college hacking for his kids. So this is something he's actively researching. I mean this frankly I don't think anybody is going to be able to dig deeper in the weeds and find the gyms that we can all use than Edmund and he is taking all the different resources that we have kind of started to talk about and he's putting them together for you in a roadmap that you'll be able to use so we told you the sun woo incorporated the college hacking the college FAFSA a week or so ago Edmund's putting that in he's also putting the dual enrollment the clep testing the micro scholarships he's building it all into a replicable process that you can use if you're in our fire community. And guys I cannot stress this enough. This article series that he's piecing together is a game changer. I mean this is what we've been waiting for. We've been waiting for one person that's figured it out or has the ability to figure it out. To put it together for us in a package that we can then talk about and turn into a conversation and I promise you Edmond is your guy for that so we're going to be releasing the second article in that series this upcoming Wednesday. If you are subscribed to our e-mail list you will get a notification as soon as it's released so if you want to subscribe to our email list you can text choose FI That's one word to 4 4 2 2 2 choose FI to 4 4 2 2 2 and you'll get a notification when that's released works. We're thinking it's going to be Wednesday morning. It's mind blowing guys. I mean is this what you have been waiting for with regards to college hacking and our community is all about the second generation. That is what our focus is so you're going to want access to that. And I know Paul is going to want access to that as this is the process that he's planning on using and Edmunds says frankly for the community college it should cost a max of 30 to $36000 absolute max. And so Brad I know that you are kind of. Is it possible is it doable. I'm going to convince you on this and we are going to create this story that you might even to end up using for your kids Brad.
023R: Friday Roundup Brad Barrett Yeah that makes sense to me. I mean there certainly some commonalities amongst professions and career paths amongst people who are choosing FI. Of course there are people from all all walks of life all career paths. But but you do see some commonalities. And I think that might speak to the concept of second generation fire a little bit more maybe we help steer our children a little bit. Obviously don't want to control their lives but there are certainly career paths I know accounting like I chose engineering is one. There are many many others and I'd actually love to hear from the audience as always. You know Jonathan and I well we have our opinions they're limited. And you guys have tons of ideas So again we'd love to hear from you. Just send us an e-mail to [email protected] with any kind of career paths that you think are especially relevant for for that second generation FIRE. So yeah I think that would be there would be very helpful. You know Jonathan, what are your thoughts?

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