Épisodes

  • Zero-Based Everything: FI, Travel, and the Art of Starting Fresh | Katie & Alan Donegan | Ep 559

    Zero-Based Everything: FI, Travel, and the Art of Starting Fresh | Katie & Alan Donegan | Ep 559
    Aug 11 2025

    Join Brad, Katie, and Alan in a candid conversation about financial independence, travel rewards, and lifestyle choices. They discuss the importance of zero-based thinking, share experiences as digital nomads, and challenge conventional views on net worth by introducing the concept of a "freedom fund."

    Timestamps:

    • 00:03:48 - Zero-Based Thinking Discussion
    • 00:04:54 - Experiences as Digital Nomads
    • 00:11:04 - Traveling vs. Stability
    • 00:18:44 - Understanding Investments
    • 00:28:00 - Shifting Perspectives on Net Worth
    • 01:20:00 - Closing Thoughts

    Key Takeaways:

    • Zero-Based Thinking: Evaluate your decisions with the question, "Knowing what I know now, would I choose this again?"
      (Timestamp: 00:16:19)

    • Traveling vs. Stability: Digital nomads navigate the challenge of balancing fast-paced travel with the need for stability.
      (Timestamp: 00:11:04)

    • Freedom Fund Concept: Shift your focus from traditional assets to a 'freedom fund' that emphasizes financial independence over liabilities.
      (Timestamp: 00:28:44)

    • Probabilistic Nature of Life: Embrace the understanding that decision-making incorporates probabilities and not just outcomes.
      (Timestamp: 00:24:20)

    Actionable Takeaways:

    • Reflect on your choices: knowing what you know now, would you choose that option again? (00:18:36)
    • Consider categorizing your investments as a 'freedom fund' rather than traditional assets. (00:28:44)

    Key Quotes:

    • "Achieving financial independence allows us to control our time and pursue our desires." (00:17:43)
    • "Evaluate your choices: if you wouldn't choose them again, it's time for change." (00:18:36)
    • "Your entire net worth is in your freedom fund." (00:28:44)

    Discussion Questions:

    • How can you apply zero-based thinking in your life to evaluate choices? (00:16:19)
    • In what ways can we better balance travel experiences with financial stability? (00:11:04)
    • What does having a freedom fund mean for you? (00:28:44)

    Resources Mentioned:

    • Rebel Finance School (Timestamp: 00:19:08)
    • What's Your Split? Visualizing net worth (Timestamp: 00:19:08)
    • PDF Guide to Optimize Your Life (Timestamp: 00:57:41)
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    1 h et 20 min
  • Designing an Intentional Life | Tim Ferriss | Ep 558

    Designing an Intentional Life | Tim Ferriss | Ep 558
    Aug 4 2025
    Tim Ferriss focusing on financial independence, the importance of mentorship, and the role of playful experimentation in living a fulfilling life. Discover insights on designing an intentional life and the values behind Tim's new game, COYOTE. Key Takeaways Experiential Learning & Game Selection Choose the right projects to engage in rather than just focusing on winning. Tim stresses that the correct game selection impacts long-term success more than winning the game itself. Mentorship Mentors and influential figures can shape our lives and paths significantly. Tim shares personal stories of mentors that led him to better decisions and prevented disastrous outcomes. Social Connections Both Brad and Tim agree on the importance of meaningful social interactions and relationships in ensuring a fulfilling life post-financial independence. Importance of Play & Experiments Financial independence allows for the experimentation of interests. Tim emphasizes the need for playful exploration of life after achieving financial goals. Episode Breakdown 00:00:00 Introduction Welcome to ChooseFI! This week features Tim Ferriss, renowned author and podcaster. 00:01:15 Tim's Background and Impact Tim shares his journey from aspiring neuroscientist to bestselling author and podcaster. The significance of mentors in influencing his life. 00:09:47 Mentorship and Its Importance Exploration of how mentors shaped Tim’s decision-making and life course, leading to successful outcomes and personal growth. 00:15:05 Choosing Projects and Life Experiences Tim emphasizes the concept of game selection, stating it’s about finding projects and experiences that align with personal growth, rather than merely aiming for success. 00:14:04 Real Growth Happens Outside Your Comfort Zone Discussing self-imposed limitations and the value of experimenting at the edge of comfort zones for personal development. 01:13:16 The Importance of Social Interaction The significance of social connections in enhancing life experiences and mental health. 01:30:47 Discussion on COYOTE Game Overview of Tim's new game COYOTE, the thought process behind it, and its importance in fostering social interaction and play. Notable Quotes "Choosing the right game is more important than just winning!" - Tim Ferriss 00:15:43"Real growth happens outside your comfort zone." - Tim Ferriss 00:14:04"It's not about winning—it's about self-discovery through experimentation." - Tim Ferriss 00:43:40"Be proactive about your well-being, don't wait for a crisis to take action." - Tim Ferriss 01:32:30"Focus on nurturing your top ten most important relationships." - Tim Ferriss 00:31:26 Actionable Takeaways Experimentation: Start small experiments in your life to explore new interests (Timestamp: 00:40:44).Prioritization of Relationships: Focus on nurturing your top ten most important relationships (Timestamp: 00:31:26).Intentional Play: Engage in intentional play and social activities for overall well-being, especially after achieving financial independence (Timestamp: 01:13:16). Related Resources COYOTE Card Game: Buy Here (Timestamp: 01:30:00)5-Bullet Friday Newsletter: Subscribe Here (Timestamp: 01:34:06)Tim's Blog and Podcast: Visit Here (Timestamp: 01:35:01) Discussion Questions How can you apply the concept of game selection to your personal or professional life? [Timestamp: 00:15:43]What are some small experiments you can run to discover new interests? [Timestamp: 00:40:04]How do you prioritize your relationships and ensure they align with your goals? [Timestamp: 00:31:26]
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    1 h et 36 min
  • It's Big, But Is It Beautiful? Let's Talk About It... | Ep 557

    It's Big, But Is It Beautiful? Let's Talk About It... | Ep 557
    Jul 28 2025
    Key changes in tax law related to the newly passed One Big Beautiful Bill significantly impact the financial independence (FI) community. Notably, the extension of tax rates and the higher standard deduction provide more planning certainty for early retirees, allowing greater financial management under these new regulations. Brad & Sean Mullaney discuss the critical tax provisions like enhanced charitable contribution deductions for non-itemizers, updates to state and local tax deductions, and the introduction of a senior deduction for retirees. They also explore strategies for maximizing premium tax credits starting in 2026. Disclaimer Sean's discussions on the ChooseFI podcast and articles and messages published on ChooseFI.com are intended for general educational purposes and are not tax, legal, or investment advice for any individual. The ChooseFI podcast and its owners, employees, and agents do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc., or their services. Key Topics Discussed: Introduction to the New Tax Bill 00:00:00 Overview of the One Big Beautiful Bill and its significance for the FI community. Impacts of Extended Tax Rates 00:02:20 Explanation of the permanence of the tax rates and the increased standard deduction. Changes to Charitable Contributions 00:13:12 Details on new deductions for non-itemizers and adjustments to itemized deductions. State and Local Tax Deduction Update 00:23:26 Increase of deductible cap from $10,000 to $40,000, impacting itemization strategies. Exploration of the Senior Deduction 00:30:05 Introduction of a $6,000 deduction aimed at seniors aged 65 and older. Understanding Premium Tax Credits 00:39:10 Strategic planning opportunities utilizing bronze ACA plans and HSAs to maximize tax benefits. Actionable Takeaways: Maximize Your Standard Deduction: Consider traditional contributions to optimize your tax situation. 00:10:15Utilize Bronze ACA Plans: Start in 2026 to lower premiums and leverage HSA contributions for enhanced tax benefits. 00:42:07 Key Quotes: "The new standard deduction is a game-changer for those pursuing financial independence." 00:08:46"These are crucial planning implications that can optimize your tax situation." 00:17:36"Shift your income from high tax brackets to the 0% tax bracket for maximum savings." 00:12:19 Timestamps: 00:00:14 - Importance of premium tax credits for the FI community. 00:03:05 - Risk of the standard deduction decreasing without the new law. 00:10:15 - Optimizing tax situation with traditional contributions. 00:14:00 - Details on the charitable contributions deduction. 00:25:19 - Update on the state and local tax deduction cap. Related Resources: YouTube Video on Premium Tax Credits: Watch Here [Timestamp: 00:45:00]Cody Garrett and Sean Mullaney’s Book Notification: Sign Up Here [Timestamp: 00:59:35] Discussion Questions: How does the new tax bill affect your approach to retirement planning? 00:00:10What strategies can be adopted to make the most of the new standard deduction? 00:10:15 Summary: This episode dives into the legislative changes that may significantly influence financial planning for those aiming for early retirement. By understanding the implications of the One Big Beautiful Bill, listeners can better navigate their financial futures.
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    1 h
  • Mailbag: Bond Funds, Roth Conversions, Advanced FI Strategies, Solo 401k and Backdoor Roth

    Mailbag: Bond Funds, Roth Conversions, Advanced FI Strategies, Solo 401k and Backdoor Roth
    Jul 21 2025

    Brad and Rachael Camp tackle listener-submitted questions focusing on bonds, retirement strategies, pensions, and optimizing Roth IRA conversions. Rachael Camp, a Certified Financial Planner, sheds light on various financial independence (FI) strategies—discussing the impact of interest rate volatility on bond investments, the importance of tax planning during retirement, and navigating unexpected inheritances.

    Timestamps and Key Topics
    • 00:01:10 - Introduction to Bonds
    • 00:03:15 - Bonds vs. Bond Funds
    • 00:24:07 - Pension Strategies
    • 00:27:29 - Roth IRA Conversions
    • 00:45:11 - Handling Inheritance and Taxes
    Key Insights

    • Understanding Bond Dynamics:

      • Timestamp: 00:04:10: Understanding the inverse relationship between bond prices and interest rates is crucial.
      • Timestamp: 00:16:30: Review your bond strategy annually to assess risks associated with interest rate changes.

    • Bond Funds vs Individual Bonds:

      • Timestamp: 00:21:24: For long-term strategies, individual bonds and bond funds often perform similarly. If you consistently reinvest mature bonds, you effectively manage the same risk as a bond fund.

    • Pension Ramifications:

      • Timestamp: 00:25:53: Use your pension wisely to enhance your tax strategy!

    • Roth IRA Conversion Strategy:

      • Timestamp: 00:34:10: Maximize your savings with strategic Roth conversions, particularly before pension income starts.

    • Inheritance Implications:

      • Timestamp: 00:46:21: Evaluate the impact of any inheritance on your overall tax strategy carefully.
    Actionable Takeaways
    • Regularly assess your bond exposure and adjust according to market conditions.
    • Prioritize Roth conversions during income gaps in your retirement timeline to leverage low tax brackets.
    • Plan your inheritance withdrawals strategically over the 10-year required period to mitigate tax impacts.
    Frequently Asked Questions

    • What is the difference between bond funds and individual bonds?

      • Bond funds are collections of bonds that continue to reinvest, while individual bonds are purchased with a fixed interest rate and maturity. This influences cash flow needs and risk tolerance. Timestamp: 00:10:40

    • How do Roth conversions affect my tax bracket?

      • Roth conversions can fill your tax bracket before pensions begin to reduce available space, maximizing tax efficiency of your retirement income. Timestamp: 00:34:10
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    1 h et 1 min
  • Are You Over-Optimizing? | Jesse Cramer | Ep 555

    Are You Over-Optimizing? | Jesse Cramer | Ep 555
    Jul 14 2025
    Effective financial planning resembles both a puzzle and a spider web, where each decision impacts interconnected aspects of one's financial life. Brad is joined by Jesse Cramer and explores the importance of resilience over perfection in financial planning, how minor choices can have significant implications, and the necessity of revisiting one's financial situation as life circumstances change. Key Topics Discussed: Introduction to Financial Planning Financial planning is likened to solving a puzzle intertwined with a spider web, emphasizing the interconnected nature of financial decisions. Defining Perfection in Finance Timestamp: 00:09:01 Discussion on the dangers of chasing perfection in financial strategies and the importance of building resilience. Understanding Tax Loss Harvesting Timestamp: 00:21:11 Exploring the concept of tax loss harvesting, its benefits, and common pitfalls associated with its incorrect application. The Asset Location Dilemma Timestamp: 00:30:13 Insights into optimizing asset location for tax efficiency, along with the risks of over-optimizing this strategy. Revisiting Financial Assumptions Timestamp: 00:55:34 The necessity of regularly reassessing financial goals and assumptions to adapt to changing circumstances. Key Takeaways: Resilience in Financial Planning: A resilient financial plan helps navigate uncertainties effectively. (00:08:02) Understanding Over-Optimization: If optimizing efforts complicate decision-making or create new risks, you may be over-optimizing. (00:07:36) Reassess Assumptions: Regularly revisiting financial assumptions is crucial for aligning them with current life situations and goals. (00:55:34) Benefits of Tax Loss Harvesting: While there are potential rewards, understanding its application is vital to avoid detrimental outcomes. (00:21:22) Asset Location Strategy: Proper allocation based on investment timelines and goals yields better financial outcomes than merely optimizing for tax efficiency. (00:30:33) Quotes from the Episode: "Financial planning is a puzzle intertwined within a spider web." (00:04:41)"Building resilience in your financial plan helps you navigate uncertainty effectively." (00:08:02)"Striving for perfection can lead to unnecessary stress in financial planning." (00:47:00) Related Resources: Personal Finance for Long-Term Investors Podcast (00:56:41)The Best Interest Blog (00:56:10) Action Items: Continuous Assessment: Regularly evaluate financial decisions against personal goals to ensure proper alignment. (00:55:34) Explore Investment Options: Understand implications before implementation to make informed decisions. (00:51:31) Discussion Questions: "How can understanding the interconnectedness of financial decisions improve overall financial planning?" (00:04:41)"What are some personal experiences with over-optimizing financial strategies?" (00:07:36)
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    58 min
  • From Poverty to Semi-Retired | Kristen Knapp | Ep 554

    From Poverty to Semi-Retired | Kristen Knapp | Ep 554
    Jul 7 2025
    Kristen Knapp shares her journey from a childhood marked by poverty to achieving financial independence and transitioning to part-time work as a television meteorologist. She introduces her new venture, FI Friends Travel, a travel initiative that connects financial independence enthusiasts through meaningful, shared travel experiences. Kristen emphasizes the power of community in the FI space, and her insights offer actionable advice on fostering connections, exploring travel rewards, and maintaining financial literacy. Timestamped Highlights: 00:02:17 Building Community through FI Kristen discusses the magic of gathering like-minded individuals and the importance of community within the FI space. 00:11:49 The Journey to Financial Independence Kristen shares her background growing up in poverty and her determination to break the cycle through education and financial literacy. 00:41:39 Launch of FI Friends Travel Introduction to FI Friends Travel, its purpose, and how it connects FI community members through travel. 00:52:14 Travel Tips from FI Friends Travel Kristen offers practical travel tips learned from her experiences, emphasizing the importance of cash, logistics, and planning. Key Takeaways: Community Is Vital: Kristen highlights the importance of establishing and maintaining local FI groups. Consistency in scheduling events encourages participation and connection. (Actionable Takeaway: Commit to a regular meeting schedule for your local FI group.) 00:07:32 Flexibility and Financial Independence: Achieving financial independence allows for flexibility in work and life choices. Kristen shares her transition to part-time work and the confidence it brings her. (Actionable Takeaway: Embrace opportunities to leverage your FI status for a more fulfilling life.) 00:37:50 Travel Rewards and Experiences: Traveling enhances personal growth and connections within the FI community. Kristen encourages listeners to seek and share meaningful travel experiences. (Actionable Takeaway: Engage with the FI community and explore travel opportunities with like-minded individuals.) 00:42:04 Educate and Inspire: Kristen emphasizes the importance of educating younger generations on financial literacy and personal finance to foster better financial habits. (Actionable Takeaway: Share insights on saving and investing with your peers and younger coworkers.) 00:25:29 Key Quotes: “There's magic when you get five people together—everyone becomes friends instantly.” 00:03:13“For the first time in my adult life, I feel like I’m finally flexing my FI muscles.” 00:37:50“Breaking new ground shows that possibilities are endless!” 00:40:41 Related Resources: FI Friends Travel - Explore travel opportunities tailored for the FI community. Earn & Invest Episode 414 Discussion Questions: How can understanding our financial journeys impact our future decisions? 00:20:36What strategies can encourage participation in local FI communities? 00:07:32In what ways do travel experiences enhance personal growth and connections? 00:41:39 Action Items: Sign up for local FI events and commit to attending regularly. (Timestamp: 00:07:32)Consider joining or leading a travel group to explore new places with like-minded individuals. (Timestamp: 00:42:04)Share financial independence concepts with younger coworkers to promote financial literacy. (Timestamp: 00:25:29)
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    59 min
  • Deep Dive: Putting the Middle-Class Trap to Bed | Ep 553

    Deep Dive: Putting the Middle-Class Trap to Bed | Ep 553
    Jun 30 2025

    Cody Garrett, (CFP), joins Brad to discuss the pervasive myth of the middle-class trap in the financial independence (FI) community. Through four case studies, they illustrate how individuals often feel trapped financially due to psychological barriers rather than actual limitations. The conversation provides insights into turning retirement accounts into income and emphasizes the importance of clarity in financial planning.

    Key Takeaways:
    • The concept of the middle-class trap is primarily a psychological barrier rather than a reality.
    • Financial independence can be achieved through better understanding of retirement accounts and using strategies like the 72T plan.
    • Home equity should be viewed as an asset that can be leveraged rather than a barrier to financial independence.
    Actionable Takeaways:
    • Challenge Perceptions: Understand and challenge your perception of the middle-class trap. (00:09:58)
    • Utilize the 72T Plan: Consider using the 72T plan for accessing retirement funds early. (00:29:45)
    • Evaluate Home Equity: Assess your home equity as a potential resource for retirement planning. (00:48:41)
    Timestamps:
    • 00:00:00 - Introduction to the Middle-Class Trap
    • 00:05:02 - Understanding your wealth's potential
    • 00:06:15 - Dispelling the middle-class trap myth
    • 00:12:08 - How psychological barriers affect retirement planning
    • 00:24:05 - Case Study 1: Upper Middle Class
    • 00:41:20 - Case Study 2: Lower Middle Class
    • 00:47:11 - Home Equity Discussion
    • 00:54:27 - Case Study 4: Selling the Home
    • 01:03:49 - Conclusion and Takeaways
    Major Topics Discussed:

    1. Middle-Class Trap Myth:

      • Discussion around the psychological aspects of feeling trapped despite solid financial bases. (00:08:02)

    2. Understanding Retirement Accounts:

      • Discussion of how individuals can access funds before age 59½ without penalties through the 72T plan. (00:29:45)

    3. Evaluating Personal Wealth:

      • Insights on evaluating your overall financial situation and the importance of understanding the true potential of your assets. (00:05:02)

    4. Case Studies:

      • Upper Middle Class: Case study of Katrina and Carlos exploring their retirement potential based on their traditional 401k. (00:24:05)
      • Lower Middle Class: Analysis of Debbie and Don’s retirement strategy leveraging their 401k benefits. (00:41:20)
      • Home Equity Discussion: Examination of how home equity affects financial independence and discussing the emotional implications of selling a home. (00:47:11)
      • Final Case Study: The benefits of selling a home to unlock equity and facilitate early retirement. (00:54:27)
    Key Quotes:
    • "Clarity precedes confidence." — Gain clarity to achieve confidence in financial decisions. (01:03:49)
    • "Pay tax when you pay less tax." — Strategic tax planning for financial independence. (00:33:38)
    Related Resources:
    • Video Walkthrough of the Case Studies
    • Book Release Notification Sign-Up
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    1 h et 7 min
  • Unraveling Your Relationship with Money | Shannah Game | Ep 552

    Unraveling Your Relationship with Money | Shannah Game | Ep 552
    Jun 23 2025
    Brad chats with certified financial planner Shannah Game, who shares insights from her book Unraveling Your Relationship with Money. They discuss the emotional and psychological aspects of finance, emphasizing the importance of understanding one's money stories, setting intentional spending boundaries, and achieving financial independence beyond just numbers and logic. Key Topics Discussed: Introduction to Shannah Game (00:00:48) Shannah is a CFP and author of Unraveling Your Relationship with Money. The Emotional Side of Finance (00:01:35) Personal finance is 90% psychology and emotion.Shannah discusses her own journey and revelations about money. Understanding Money Trauma (00:06:48) Money trauma can affect anyone, not just those from impoverished backgrounds.Discussing childhood experiences and their impact on adult financial behaviors. Strategies for Intentional Spending (00:12:15) Implement the 24-hour rule before purchases to reduce impulsive spending.Create space between stimulus and response to make intentional financial choices. Creating Your Financial Rules (00:16:40) The concept of setting personal financial boundaries and making your own rules.Importance of tailoring financial strategies to individual needs. Personal Growth and Self-trust (00:36:17) Fostering a growth mindset to combat feelings of being "bad with money."Emphasizing the importance of self-trust in financial decision-making. Key Insights: Money as Joy, Not Struggle (00:06:00) Money should enhance life rather than be a source of stress. Conscious Spending (00:10:07) Create space to reflect before making purchases. Set Your Own Financial Rules (00:16:40) Empower yourself to establish personal financial guidelines that resonate with your values. Our Brains and Money (00:18:39) Recognizing how cognitive processes can sabotage financial well-being. Actionable Takeaways: Apply a 24-hour cooling-off period before making purchases to minimize impulsive spending. (Timestamp: 00:11:22)Use highlighters to categorize your spending and uncover hidden patterns affecting your financial decisions. (Timestamp: 00:29:23) FAQs: What are some strategies to manage emotional spending? Implement a 24-hour waiting period before purchases. (00:10:58) How can I uncover my money stories? Reflect on spending patterns in a relaxed environment to identify emotional triggers. (00:29:23) Why is it important to address money trauma? It helps break negative cycles, fostering a healthier financial relationship. (00:07:53) Discussion Questions to Consider: What are your earliest memories related to money, and how do they shape your current beliefs? (00:08:15)How can you create a healthier emotional relationship with money? (00:39:17) Related Resources: Unraveling Your Relationship with Money - Book Link (00:41:01) Follow Shannah Game: Website & Podcast: EveryonesTalkingMoney.comInstagram: @ShannahGame Examine your financial beliefs deeply and review the actionable steps to cultivate a healthier relationship with money, paving the way toward financial independence.
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    52 min