In this episode of ChooseFI, Ryan Brennan, founder of the FI Service Core, dives into his journey within the financial independence (FI) community and how he is merging it with the spirit of volunteering. The discussion explores Ryan's background as a recovering CPA, his transition into this new venture, and the pilot events that successfully combined community service with social bonding.

• Financial independence can intertwine with community service to create meaningful experiences.
• A supportive community is essential for financial independence and personal fulfillment.
• Organizing local service events can facilitate connections and promote engagement within the FI community.
• The pilot event in December 2024 demonstrated the importance of bonding while volunteering, paving the way for future events.

• 00:00:00 - Introduction to the Episode
• 00:01:22 - Ryan's Journey from CPA to FI
  • Transition from CPA to focusing on community and service.
• 00:02:56 - Financial Runway
  • Importance of financial planning and having a runway to support lifestyle changes.
• 00:07:31 - Volunteering during Mini Retirements
  • Discusses the interplay of financial independence and taking time off to volunteer.
• 00:15:04 - Connecting Financial Independence with Service
  • Ideas for blending personal finance goals with service projects.
• 00:37:27 - The December 2024 Pilot Event
  • Overview of the inaugural service trip and its success.
• 00:46:58 - Future Plans for FI Service Core
  • Opportunities for ongoing involvement and expansion of service events.

• “The community is eager for connection and opportunities to give back.” (00:01:23)
• “My financial runway allowed me to comfortably transition away from traditional work.” (00:02:56)
• “Mindset shifts are crucial on the path to financial independence.” (00:06:12)
• “Community engagement enhances the experience of financial independence.” (00:30:50)

• Create a Financial Runway: Plan your finances to support potential lifestyle changes or time off work. (00:02:56)
• Combine Interests with Service: Reflect on how your personal finance goals can facilitate giving back to the community. (00:21:08)

• Book: Rich Dad Poor Dad (00:15:34)
• ChooseFI Podcast: Listen Here (00:18:41)

• In what ways can financial independence be linked to volunteering? (00:21:08)
• How can local groups create impactful service events? (00:30:54)

• Sign Up for the Mailing List: Join the FI Service Core mailing list at FIServiceCore.org for updates on events. (00:49:37)
• Organize a Local FI Meetup: Consider creating a service-oriented event within your local FI community. (00:27:21)

Ryan Brennan's commitment to merging financial independence with communal service reflects a growing trend in the FI community to find purpose beyond numbers. The discussions emphasize that financial journeys can lead to enriching experiences while giving back, making the pursuit of FI not just a personal endeavor but a collective mission.

For more information and to get involved, visit FI Service Corps.

Everyday FI podcast:

In this episode, JL Collins discusses the transformative principles of financial independence outlined in his renowned book, The Simple Path to Wealth. Collins emphasizes the simplicity of investing, the power of living below your means, and the crucial role of compounding returns in achieving financial freedom. The conversation also touches on the newly revised edition of the book, addressing updated data and emergent financial topics, including cryptocurrency, all while maintaining the core philosophy that has empowered millions.

• Financial Freedom's Core: Understanding that financial freedom is achievable through deliberate actions—avoiding debt, living on less than you earn, and investing wisely.
• The Power of Compounding: Small, consistent investments can lead to significant wealth over time due to compounding returns.
• Market Downturns as Opportunities: Viewing market declines as chances to buy stocks at lower prices rather than reasons to sell.
• Simplicity in Investing: Collins advocates a straightforward approach to investing, primarily using low-cost index funds.
• Revised Edition Highlights: The updated book includes new data, case studies, FAQs, and insights into cryptocurrency while retaining its foundational message.

• 00:00:19 The Release of the Revised Book
  Discussion on the new 2025 edition of The Simple Path to Wealth and its significance.

• 00:05:22 Understanding the Simple Path to Wealth
  Collins describes how the book began as a personal guide for his daughter and evolved into a life-changing resource for many.

• 00:07:39 The Importance of Compounding
  Explanation of compounding wealth and the misconception that it requires starting at a young age.

• 00:20:15 Investing in Index Funds
  Discussion on the benefits of investing in broad-based low-cost index funds, particularly VTSAX.

• 00:27:15 Market Trends and Self-Cleansing Funds
  Collins introduces the concept of self-cleansing funds and how stock indices adapt to market changes.

• Embrace investing consistently in low-cost index funds like VTSAX or similar.
• Aim for a high savings rate to expedite financial independence.
• View market downturns as opportunities to enhance your portfolio.
• Set up automatic contributions to investment accounts.
• Understand that freedom is the ultimate goal of wealth-building efforts.

• What strategies can you implement to live on less than you earn?
• How do you feel about the role of compounding in wealth building?

• The Simple Path to Wealth - 2025 Edition

• "If you reach for a star, you might not get one, but you won’t come up with a handful of mud either." [Timestamp: 00:09:31]
• "A stock market crash is a gift." [Timestamp: 00:35:31]

Dr. Bobby DuBois returns to discuss the essential role of sleep in achieving financial independence and enhancing overall health. He addresses the worrying trend of sleep deprivation among Americans and its significant consequences on heart health, weight management, and cognitive functionality. This episode is filled with evidence-based insights and practical strategies aimed at prioritizing sleep as a vital component in the journey towards financial freedom.

Timestamps & Key Topics

• 00:01:26 - Welcome Dr. Bobby DuBois

  • Recap of Dr. DuBois's credentials and previous appearance on episode 498 discussing the six pillars of health.

• 00:03:07 - Importance of Sleep

  • Key Quote: "Prioritizing sleep is crucial for overall health."
  • Overview of why sleep is fundamental for health and financial independence.

• 00:05:44 - Health Investment Early On

  • Key Quote: "Start focusing on your health now; don’t wait until retirement."
  • Insight into how healthy habits, like good sleep, should start early in life.

• 00:07:19 - Sleep is Essential

  • Key Quote: "Sleep is essential, not optional."
  • Discussion of sleep statistics: only 50% of Americans sleep under seven hours.

• 00:08:30 - Health Impacts of Sleep Deprivation

  • Risk increases for heart attacks, obesity, and dementia due to lack of sleep.

• 00:18:07 - Do’s and Don'ts of Sleep

  • Actionable tips on how to improve sleep quality.

• 00:51:15 - Final Tips and Techniques

  • Summary of sleep improvement strategies.

Key Insights & Takeaways

• Sleep Duration:

  • Aim for 7-8 hours of quality sleep; significant health risks arise from sleep shorter than seven hours.

• Do's for Better Sleep:

  • Maintain a consistent sleep schedule: go to bed and wake up at the same time daily (00:36:27).
  • Create a comfortable, cool sleeping environment, ideally under 70 degrees (00:38:23).
  • Limit caffeine to morning consumption to avoid disruptions (00:41:41).
  • Engage in regular exercise, tailored to individual preferences, to enhance sleep quality.
  • Utilize sunlight exposure in the morning to set your body's circadian rhythm.

• Don'ts for Better Sleep:

  • Avoid alcohol close to bedtime; it disrupts sleep cycles and reduces quality (00:43:00).
  • Eliminate late-night eating and limit fluids before bed to prevent awakenings (00:49:34).
  • Refrain from napping late in the day to maintain sleep pressure.

Action Items

• Track your sleep patterns, either through a sleep tracker or a sleep journal (00:21:45).
• Experiment with establishing a wind-down routine that minimizes screen time and promotes relaxation (00:50:10).

Resources Mentioned

• Books:

  • Why We Sleep by Matthew Walker - Link (00:10:48)

• Assessments:

  • Pittsburgh Sleep Quality Index - Link (00:22:17)

• Dr. Bobby's Website:

  • drbobbylivelongandwell.com