Episodes

  • 513 | Make Your Own Dividend | Mailbag with Rachael

    513 | Make Your Own Dividend | Mailbag with Rachael
    Sep 30 2024
    In this episode: getting started early with FI, the 4% rule, retirement accounts, real estate, and safe withdrawal rates. This episode is packed with actionable information that can help with maximizing your financial future, from house hacking to Roth conversions, and strategies for living off your investments. Brad and Rachael dive into real-world listener questions to help you navigate your FI journey with confidence. Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. 🔑 Key Themes Discussed: The benefits of getting started early with financial independence (FI)Evaluating the 4% rule and how to live off investments in retirementUnderstanding the difference between Roth vs. Traditional retirement accountsTax strategies for early retirement and avoiding penaltiesHouse hacking as a way to reduce housing costs and boost savingsReal estate as an investment: risks, rewards, and misconceptionsMaximizing income while keeping expenses low for young professionalsSafe withdrawal rates, dividends, and managing investments post-retirementThe psychological aspects of early retirement and maintaining financial health 🕒 Chapters: 00:00 – Introduction to Mailbag with Rachael01:00 – Starting Early with FI: Gabby’s Journey03:00 – Roth vs. Traditional Retirement Accounts for Young Investors06:00 – House Hacking and Real Estate Strategies09:00 – How the 4% Rule Works for Early Retirement12:00 – Income Maximization for Young Professionals18:00 – Managing Dividends and Withdrawal Strategies in FI24:00 – Safe Withdrawal Rates and Creating Your Own Dividend31:00 – Listener Questions: Roth IRA Conversion Ladder36:00 – Tax Strategies and Avoiding Penalties in Early Retirement43:00 – Rethinking Real Estate and House Hacking Risks51:00 – Wrap-Up and Final Thoughts on Financial Independence 🔗 Mentioned Links and Resources: Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp | ChooseFI Ep 505Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp | ChooseFI Ep 496How to Access Your Retirement Accounts Before 59.5 | Sean Mullaney | ChooseFI Ep 475Drawdown Strategies: Karsten vs. Fritz | ChooseFI Ep 427House Hacking With Coach Carson | ChooseFI Ep 16Scott Trench | Set For Life | ChooseFI Ep 63Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 14 mins
  • 512 | Getting Personal with Personal Finance | Ginger & Anne

    512 | Getting Personal with Personal Finance | Ginger & Anne
    Sep 27 2024
    In this episode: downsizing, coastFI, redefining your goals, overcoming material attachments, and building community. This week Ginger is joined by community member Anne, to discuss her process of downsizing and navigating the physical and emotional attachments we associate with objects, places and people. Additionally, the pair discuss the importance of taking mini-retirements, cultivating gratitude, as well as share some podcasts and books that have helped them on their journey. We often say FI allows you the freedom and space to discover what more you want out of life, but that doesn’t mean you should wait until you reach your goal to actually start making the moves to get there! Whether you’re near the finish line or just beginning, don’t wait to explore other possibilities that can elevate not only your FI journey but your life. 🔑 Key Themes Discussed: The emotional journey of downsizing and letting go of possessionsAchieving CoastFI and the realization of financial independenceThe significance of mini-retirements and experimenting with lifestyle choicesPersonal growth and redefining goals in mid-lifeThe psychological effects of decision-making in early retirementCreating space for joy and gratitude in life transitionsOvercoming attachment to material possessions and past dreamsBuilding community after major life transitions, such as moving and career changes 🕒 Chapters: 00:00 – Introduction: Ginger and Anne’s Journey01:00 – Anne’s Recent Move and Downsizing03:00 – Discovering Financial Independence Through the FI Formula07:00 – Defining CoastFI and the Big Epiphany Moment10:00 – Reflecting on Personal Goals and Letting Go of Past Dreams13:00 – Experimenting with Mini-Retirements: Learning from the FI Community16:00 – Downsizing: The Emotional Process of Letting Go22:00 – Influence of Family Illness and Death on the FI Journey27:00 – The Challenge of Winter Depression and Its Role in Change31:00 – Selling the Family Home: Closure and Moving Forward36:00 – Gratitude and the Practice of Being Present40:00 – Taking the Leap: Early Retirement and What Comes Next46:00 – Finding Community and Building a New Life After Moving51:00 – The Courage to Try New Things and Embrace Discomfort55:00 – Final Reflections on Joy, Curiosity, and Living Without Regret 🔗 Mentioned Links and Resources: Contact Anne: anne.andrew907@gmail.com“Disrupt Yourself, With a New Introduction: Master Relentless Change and Speed Up Your Learning Curve” by Whitney Johnson“The Artist’s Way: 30th Anniversary Edition” by Julia CameronRetire Often PodcastFamous Failures“Think Like a Rocket Scientist: Simple Strategies You Can Use to Make Giant Leaps in Work and Life” by Ovan VarolSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 6 mins
  • 511 | Take the Next Step | Ginger Roundup

    511 | Take the Next Step | Ginger Roundup
    Sep 23 2024
    In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate. This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we’ve taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you’ll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week’s episode. 🔑 Key Themes Discussed: Financial Independence (FI) journey and making big life transitionsThe importance of experiencing challenging tasks to build resilience (“doing hard things”)Insights on taxes in retirement: why you may pay less than expectedTravel hacks: optimizing family cruises and travel rewards pointsThe psychological approach to financial success: The Gap and The Gain conceptPersonal health and wellness: Brad’s journey with hiking, saunas, and cold plungesCommunity wins: listener success stories on saving, investing, and achieving FIHealth insurance strategies for early retireesReal estate strategies and long-term capital gains tax advantagesAddressing common FI misconceptions and how to optimize your finances 🕒 Chapters: 00:00 – Introduction and Recent Trips01:30 – Travel Rewards and Cruise Optimization06:00 – Family Vacations and Cruise Hacks08:30 – Colorado Trip and Doing Hard Things10:00 – Hiking Challenges: Lessons from FI and Fitness17:00 – Financial Independence Journey: Overcoming Obstacles21:00 – The Gap and The Gain: Mental Shifts for Success27:00 – Understanding Taxes in Retirement35:00 – Health Insurance and Early Retirement Strategies40:00 – Capital Gains Tax and Real Estate in FI48:00 – Listener Questions and Real-Life Examples55:00 – Community Wins: Listener Success Stories59:00 – Travel Rewards Victory: Booking Free International Trips Resources Mentioned In Today’s Episode: “The Gap and The Gain: The High Achievers’ Guide to Happiness, Confidence, and Success” by Dan Sullivan and Dr Benjamin HardyThe Shockingly Simple Math Behind Early RetirementBiggerPockets Real Estate Podcast“Set for Life: Dominate Life, Money, and the American Dream” by Scott TrenchSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr
  • 510 | Real Estate 2024 Update | Scott Trench

    510 | Real Estate 2024 Update | Scott Trench
    Sep 16 2024
    In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment. In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you’re a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way! 🔑 Key Themes Discussed: The impact of rising interest rates on real estate markets in 2024The “lock-in effect” and how low-interest mortgages affect housing supplyRent vs. buy decisions in today’s marketThe rise of multifamily and single-family housing supply, especially in regions like AustinHouse hacking in 2024: Is it still viable?The state of commercial real estate and multifamily investmentsHow interest rate trends impact real estate investorsOpportunities for investors in a downturn: Finding deals amidst crisisSyndications: Potential pitfalls, bad actors, and lessons learned for 2024Real estate investment strategies: What to do with your mortgage and how to balance risk 🕒 Chapters: 00:00 – Introduction: Welcoming Scott Trench01:00 – Rising Interest Rates and Market Effects03:00 – Housing Supply and the Lock-in Effect Explained04:30 – Rent vs. Buy: How the Calculus Has Changed09:00 – The Build-to-Rent Industry and Single-Family Rentals12:00 – House Hacking in 2024: Is It Still Worth It?16:00 – Multifamily Housing Supply and Regional Trends17:00 – Commercial Real Estate: What’s Happening Now?20:00 – How Interest Rates Are Crushing Commercial Investors24:00 – Opportunities Amidst a Crisis: Where to Find Deals27:00 – The Real State of Syndications: Risks and Rewards33:00 – Evaluating Syndicators: How to Find Good Deals in 202436:00 – Real Estate Investment Strategies: Notes, Funds, and Lending43:00 – Pay Off Your Mortgage or Invest?50:00 – Long-Term Real Estate Bets and Holding Strategies56:00 – Wrap-Up: Key Takeaways and Final Thoughts 🔗 Mentioned Links and Resources: BiggerPocketsThe BiggerPockets Money PodcastSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    55 mins
  • 509 | Getting Personal with Personal Finance | Ginger & Kim

    509 | Getting Personal with Personal Finance | Ginger & Kim
    Sep 13 2024
    In this episode: surpriseFI, minimalism, frugality, emotional and psychological aspects of FI, and alternative lifestyles. We often get a lot of great ideas and questions from the FI community, and what better way to answer some as well as inspire than bring in one of our own to discuss their journey! In this special Friday episode, Ginger is joined by member of the FI community, Kim, to discuss how she found herself on her “surpriseFI” journey. Together, the pair talks about balancing frugality and minimalism, the importance of designing the life you want, as well as share some resources and recommendations that helped her on her journey! 🔑 Key Themes Discussed: The journey to achieving Financial Independence (FI) through surprise and discoveryMinimalism, frugality, and living below your means as a path to freedomTransitioning from work life to financial independence and early retirementPersonal reflections on housing, relationships, and travel in post-retirement lifeEmotional and psychological aspects of financial independenceStrategies for aligning personal values with financial decisionsExploring alternative lifestyles: hatchback camping, Peace Corps, and low-cost living 🕒 Chapters: 00:00 – Introduction and How Kim and Ginger Met02:00 – Kim’s Journey to Surprise Financial Independence06:00 – Experimenting with Early Retirement: Leave of Absence Strategy09:00 – Living Frugally: Kim’s Minimal Spending Habits12:00 – Kim’s Unique Housing Situation and Thoughts on Real Estate15:00 – The Role of Minimalism in Achieving Financial Freedom17:00 – Life After Retirement: Adventure, Travel, and Hatchback Living23:00 – Challenges and Opportunities in Dating After FI27:00 – Personal Growth, Goals, and the Desire for Meaningful Projects33:00 – Financial Planning Tools and Resources for FI35:00 – Balancing Frugality and Enjoyment: Traveling on a Budget40:00 – Final Thoughts: Kim’s Recommendations for an Extraordinary Life 🔗 Mentioned Links and Resources: “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Vicki Robinson, Joe Dominguez, and Mr Money Mustache.Contact Kim: kimisonfire@fastmail.com“Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert KiyosakiRich, Broke, or Dead? Post Retirement FIRE Calculator Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep. 18Afford Anything with Paula Pant | Vicki Robin: Financial Independence After 70 [GREATEST HITS WEEK]Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    43 mins
  • 508 | 5% SWR, Revealed Preferences, and the 3 Stories | Frank Vasquez

    508 | 5% SWR, Revealed Preferences, and the 3 Stories | Frank Vasquez
    Sep 9 2024
    In this episode: 5% safe withdrawal rate, the three stories, psychology and personal finance, and community. In this insightful episode of the ChooseFI Podcast, Brad chats with Frank Vasquez, a well-known figure in the financial independence community and the voice behind Risk Parity Radio. They delve into Frank’s journey from a career in law to becoming a personal finance expert, and explore topics like the 5% safe withdrawal rate, revealed preferences, and Frank’s three defining life stories. This conversation offers insight on approaching personal finance, investments, and life after achieving financial independence. Frank shares his unique blend of academic rigor, personal curiosity, and his thoughtful approach to living with purpose in the post-FI world. 🔑 Key Themes Discussed: Understanding the 5% Safe Withdrawal Rate (SWR) and its practical application.How revealed preferences shape financial and life decisions.The three stories Frank lives by: the Curious Child, the Starfish Thrower, and the Mexican Fisherman.How narrative psychology impacts our personal finance decisions.Personal experiences in managing life post-financial independence.The intersection of economics, personal finance, and storytelling.Practical insights on podcasting, community engagement, and sharing financial knowledge. 🕒 Chapters: 00:00 – Introduction to Frank Vasquez and Risk Parity Radio.03:00 – Frank’s Journey: From Law to Personal Finance Expert.07:30 – Understanding the 5% Safe Withdrawal Rate.15:00 – The Three Stories Frank Lives By.25:00 – Revealed Preferences: What Do We Really Want?35:00 – Narrative Psychology and Personal Finance Decisions.45:00 – Post-FI Life: Teaching, Relationships, and Purpose.55:00 – Frank’s Thoughts on Podcasting and Community. 🔗 Mentioned Links and Resources: Risk Parity RadioBig Think video on Narrative Psychology with Jane Goodall and Terry Crews“Build the Life You Want: The Art and Science of Getting Happier” by Arthur Brooks and Oprah WinfreyThe Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194Find Your Local ChooseFI Group More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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    1 hr and 9 mins
  • 507 | Taking the Fear Out of Your Future | Ginger roundup

    507 | Taking the Fear Out of Your Future | Ginger roundup
    Sep 2 2024

    In this episode: overcoming fears, the importance of community, community wins, reaching FI goals, and ripple effects.

    This week Brad is re-joined by Ginger for another installment of the round-up, where we will be discussing topics such as new 529 plans, the importance of making connections within your community, and actionable steps for overcoming anxieties while on your FI journey! Additionally, it wouldn’t be a round-up episode without as well as shouting out some frugal wins from our wonderful community! While these episodes are not only a great way for us to give you personal updates and perspectives, it’s an even better way for us to highlight some of the tips and tricks you’ve picked up on your respective FI journeys!

    🔑 Key Themes Discussed:
    • The psychological aspects of financial independence and overcoming fear.
    • Building a fulfilling life by focusing on fulfilling days.
    • Strategies for maximizing benefits from 529 plans.
    • The importance of community and connection in the FI journey.
    • Overcoming anxiety and embracing serendipity in life choices.
    • Practical steps for financial checkups and optimization.
    • Leveraging travel and experiences for personal growth and connection.
    • Exploring frugality and financial prudence in everyday decisions.
    🕒 Chapters:
    • Introduction to the Episode with Brad and Ginger
    • Highlighting Community Wins and Stories
    • Embracing Challenges and Overcoming Fears in Personal Growth
    • Listener Voicemail – Updates on Reaching FI Goals
    • New Rules and Tips for 529 Plans
    • Frugal Wins of the Week
    • Big Financial Moves and Their Ripple Effects
    • Conclusion and Reflections on Building Community and Connection
    🔗 Mentioned Links and Resources:
    • Update: Healthiest Year Ever | Dean Turner | ChooseFI Ep 480
    • Making FI Fun Again | ChooseFI Ep 502
    • Subscribe To The FI Weekly
    More Helpful Links and FI Resources:
    • Top 10 Recommended Travel Rewards Credit Cards
    • Empower: Free Dashboard to Track Your Finances
    • CIT Bank Platinum Savings Account
    • M1 Finance: Commission-Free Investing, 1-click rebalancing
    • CashFreely: Maximize Your Cash Back Rewards
    • Travel Freely: Track all your rewards cards and points
    • Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
    • Student Loan Planner: Custom Consult (with $100 Discount)
    • Get a cheaper phone plan with Mint Mobile
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    1 hr and 9 mins
  • 506 | ProjectionLab | Kyle Nolan

    506 | ProjectionLab | Kyle Nolan
    Aug 26 2024

    In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects.

    This week we are joined by Kyle Nolan, creator and founder of ProjectionLab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he’s faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it’s important to remember that you don’t have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback!

    🔑 Key Themes Discussed:
    • Kyle’s journey from traditional employment to entrepreneurship.
    • The development and impact of ProjectionLab in the FI community.
    • The role of personal passion in creating and growing a side hustle.
    • Overcoming fear and indecision when launching a new venture.
    • The importance of a supportive community in achieving financial independence.
    🕒 Chapters:
    • Introduction to Kyle Nolan and ProjectionLab
    • Kyle’s background and the start of his FI journey
    • The motivation behind creating ProjectionLab
    • The challenges and rewards of entrepreneurship
    • The pivotal moment of launching ProjectionLab on Hacker News
    • The significance of mental headspace in pursuing side projects
    • Brad’s reflections on proof of concept and personal finance journey
    • How to encourage children to explore their passions in technology
    🔗 Mentioned Links and Resources:

    • ProjectionLab (Use Code "CHOOSEFI" for 10% off!)
    • Richmond Savers
    • Subscribe to The FI Weekly!
    More Helpful Links and FI Resources:
    • Top 10 Recommended Travel Rewards Credit Cards
    • Empower: Free Dashboard to Track Your Finances
    • CIT Bank Platinum Savings Account
    • M1 Finance: Commission-Free Investing, 1-click rebalancing
    • CashFreely: Maximize Your Cash Back Rewards
    • Travel Freely: Track all your rewards cards and points
    • Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
    • Student Loan Planner: Custom Consult (with $100 Discount)
    • Get a cheaper phone plan with Mint Mobile
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    1 hr and 3 mins