Choosefi | Financial Independence Podcast For The Stealth Wealth Community

080 | Khai Shing, a former contestant on The Amazing Race, and blogger at ALABA+MA+LAYSIA, talks about balancing her pursuit of FI while finding ways to travel, worldwide, at discount prices. Did Khai start with global travel, or with The Amazing Race? Took about 3 months from applying to The Amazing Race with her twin brother, to being selected for the show - traveling all over China. Khai grew up in Malaysia, and plans to return there for retirement, once she achieves FI. How did Khai and her brother set themselves up to be selected from their video application? What was the highlight of The Amazing Race for Khai? Is it easier to achieve FI living in Malaysia versus living in the US? When Khai calculates her FI number, does she base her living expenses off US expenses, or the expected cost of living in Malaysia? Why does Khai use 35x as her multiplier for calculating a FI number? How long is Khai’s FI path? How does world travel fit into Khai’s lifestyle and financial plan during the next 8 years of her pa

079R | Highlights of Monday’s episode with Tim & Amy Rutherford, discussion about healthcare, additional podcast recommendations, and voicemails from the ChooseFI community. For more information, visit the show notes at http://ChooseFI.com/079R

079 | Tim & Amy Rutherford talk about early retirement, living with lower expenses and a busier schedule of fun, free activities, and what life changes they made to get there.   How did Amy and Tim meet and what were their spending habits at the time? What did “frugal” look like for Amy and Tim initially? With enough money in the bank, cutting their spending gave them an opportunity to retire almost as soon as they became aware of financial independence. Managing spending is equally as important as replacing income when it comes to reaching financial independence. Optimizing life is one of the most enjoyable things Amy & Tim ever did. What factors did Tim & Amy consider prior to leaving the workforce? Physical health Mental health How did a chart help Amy get excited about saving? “What’s tracked and measured can be improved.” There are fun, free activities in every part of the world. How do Tim & Amy fill up their days now that they’re retired? Walking Inviting friends for dinner Findi

078R | Lots going on in this episode with a recap of Episode 78 with Travis Hornsby about Student Loan Debt Repayment Options. But also, Brad sold his house and Jonathan has become a “rockstar” at selling things on Craigslist. For more information, visit the show notes at http://ChooseFI.com/078R

078 | Travis Hornsby, founder of StudentLoanPlanner.com, talks early retirement, traveling Europe, and developing a passion for helping people crawl out of student loan debt. What you'll hear on today's show: Why did Travis attempt retirement at 25? If you’re unhappy before reaching FI, will you be happy afterward? Where did Travis’ frugal tendencies come from? How did Travis get paid to go to college? Do many universities offer full scholarships, and where should students find that information? Does attending an Ivy League university make a difference? Travis retired with $230,000 saved, with a plan to spend just 20k a year. Did Travis have a long-term plan for his retirement? Living expenses in the United States are high relative to many other places in the world if you’re an adventurous person. Why did Travis’ job performance improve after he decided to quit his job? If you’re on the path to FI but haven’t made it yet: develop a product or service that you’re passionate about and give yourself a year or t

077R | An second part to the conversation between ChooseFi community member Tallis, who teaches dance classes in retirement facilities, and Pop-Up Business School founder Alan Donegan, to help get Tallis’ side hustle off the ground. Precursors to this episode: Episode 30 and Episode 56. Tallis gives an update on her side hustle to-do list. Client feedback: the questions you ask impact the results you’ll get. What is the best way to sell Tallis’ dance classes to the retirement facilities. Tallis continues to wonder how to best monetize her service? Tallis hopes to facilitate workshops to train dance-class teachers. Alan and Tallis previously discussed securing sponsorship, potentially from pharmaceutical companies. Currently, Tallis’ dance class is endorsed (and paid for) by the American Parkinson's Disease Association, so classes are free for participants. Could Tallis collect a fee from participants? Most important considerations right now: how is going to pay, and how much to charge? Different payment mode

077 | Experienced travel hacker and world traveler Marla Taner shares story of reaching financial independence, and her best tips for getting to Hawaii, Costa Rica and the Caribbean with minimal expenses, using credit cards points and air miles. ——————-   Thank you for being a part of the ChooseFI community! 

076R | Brad and Jonathan brainstorm ways to implement local adventure into their own lives and the lives of the ChooseFI community. Also, achat about high school reunions, local libraries, and a few clarifications about 401k contributions. Jonathan's 26-year-old sister just hit an 85% savings rate. Living at home can be super helpful to the recent college graduate, or young person entering the workforce. Getting to $100k net worth is the hardest part: after that, compounded interest starts working for you. Brad signed up his daughter for www.code.org, a website that teaches coding paired with Minecraft. Review of Monday’s episode with Mrs. Adventure Rich. Getting the right mindset is the most important part of getting on the path to financial independence. How does Brad feel about not having a FI number or date? Is the pursuit of financial independence a race or a journey? What was positive about the way Mrs. Adventure Rich’s coworker introduced her to FI. How has Mrs. AR lowered the barrier of entry for loc

076 | Mrs. Adventure Rich talks about making the choice to live an adventurous life, her family’s pursuit of financial independence, and finding a balance between maximizing financial opportunities and living a happy, fulfilling, high quality of life. ——————-   Thank you for being a part of the ChooseFI community! 

075R | “Personal finance is becoming financial independence.” Financial independence doesn’t necessarily mean retiring early; it means allocating your resources in the way you see fit. This is just a taste of what we discuss in this recap from Monday's interview with Brian Feroldi from The Motley Fool. Jonathan talks about blowing his budget on breakfast at the cold bar in Wegman’s, while Brad thinks that grocery shopping at Wegman’s is the same cost as Walmart. Brad talks about meeting strangers who also in the FI community. Brad and Jonathan wonder if financial independence is on the edge of mainstream adoption? “Personal finance is becoming financial independence.” Financial independence doesn’t necessarily mean retiring early; it means allocating your resources in the way you see fit. Review of Monday’s episode with Brian Feroldi, about individual stock investment. Do Brad and Jonathan own individual stocks? What are the challenges to getting started with individual stocks? Are individual stocks better a

075 | Brian Feroldi talks through the advantages and disadvantages of individual investing, the realistic expectations for performance, and his strategies for beating Wall Street. Professional money managers operate under different parameters and mindsets than an individual investor Stockbrokers must make decisions based on short-term returns What other disadvantages do professional money managers face, in contrast to individual investors? How do professional money managers truly spend their time and earn their money? ...and more at https://ChooseFI.com/075   ——————-   Thank you for being a part of the ChooseFI community! 

074R | An update the community on recent activities, discussion about the opportunity cost of college and potential alternatives, a ChooseFI scholarship announcement, and a few voicemails from the ChooseFI community. Brad recaps his trip to the Berkshire Hathaway shareholders meeting in Omaha, and a visit with the ChooseFI local group in Omaha Jonathan shares how he recently cut his grocery costs by nearly $700 ...and more can be found at http://ChooseFI.com/074R ——————-   Thank you for being a part of the ChooseFI community! 

074 | Ryan Carson’s tech-education company, Treehouse, teaches computer coding as a trade skill, giving students an opportunity to enter the work force, or change careers in nine months, at a fraction of the cost of a four-year degree.   Ryan considers coding a trade skill, rather than profession that requires a four-year degree. Ryan founded Treehouse to help people avoid student debt, get a job sooner and start saving for their 401k sooner. There will be 1.4 million new jobs in tech, and only 400,000 will be filled by college graduates. A trade job is composed of acquired skills, or “stackable skills”, like a mechanic or electrician. Will the future be primarily trade jobs? How is Treehouse different from other coding schools? How does apprenticeship work in the tech industry? What is TalentPath, and how does it help develop young coders? For a skilled job, such as coding, landing a job is more dependent on a portfolio than a degree. How does apprenticeship impact a person’s retirement savings, compared to

073 | How do you make money online? We discuss the 7 most common ways to make money online, plus a review of Monday's interview with Jamila Souffrant from Journey To Launch. We dive deep into making money with: Membership sites Digital courses Create a product or service Advertising Sponsorships Listener/Reader supported Affiliate marketing ...and (BONUS) grow your brand and watch what opens up to you. For more information, visit the show notes at http://ChooseFI.com/073R   ——————-   Thank you for being a part of the ChooseFI community! 

073 | Jamila Souffrant tells us about college internships, buying real estate right out of college, a few failed business ventures, and her decision to pursue FI, starting by saving $85,000 in the first year. We talk to Jamila about: How Jamila and her husband saved $85,000 in 2016 As the child of an immigrant single-mother, how did Jamila’s childhood experiences impact her college and early professional career? Jamila shares what wealth means to her now Failing Forward: the idea that progress is made, even if when things don’t see to have worked out ...and more at https://ChooseFI.com/073   ——————-   Thank you for being a part of the ChooseFI community! 

072R | Lively discussion about cryptocurrencies as investments, review of last week’s MidAtlantic Camp FI, and several exciting contributions and questions from the ChooseFI community. What you'll hear in today's roundup: Brad’s brother is visiting from Santiago, Chile – how is he managing his path to financial independence as an international teacher? Review of Monday’s episode discussing Bitcoin with Myles Wakeham What are drawbacks of cryptocurrency? Is Bitcoin a good investment, or is it just a gamble? How much energy is expended in the global mining of Bitcoin? Michelle, from the ChooseFi community, wonders if Bitcoin’s apparently lax regulations (compared to companies like PayPal) opens it up to be used for terrorism and other illegal activities? William suggests to Jonathan that regulation of Bitcoin is nearly inevitable, exposing investors to potentially difficult scenarios in regards to both taxes, and simply converting money back into tangible currency. Brad and Jonathan attended the MidAtlantic Ca

072 | Bitcoin, should you Buy it? Myles Wakeham tells us how he discovered Bitcoin, how and why cryptocurrencies have to value, and gives us a nuanced perspective of where cryptocurrency might go in the future. How did Myles, a software developer, come to invest in Bitcoin? Myles spent years figuring ways to pay his Bangladeshi software developer, until mid 2011, when his contractor discovered Bitcoin as a more effective method of payment. There's much more to this story - and to learn about cryptocurrencies, so check out the extensive list of notes at http://ChooseFI.com/072

071R | Brad and Jonathan compare their college experiences to Chris Hutchins’ from the Monday episode, they discuss the importance of owning your own FI decisions, and we get updates from several members of the ChooseFI community. Brad considers starting a blog for his daughter as second-generation FI. Review of Chris Hutchins’ episode last Monday. Brad compares his experience of packing meals ahead for vacation to Chris’ grandparents growing up. What is value of cultivating relationships, and how did Brad find success in that? What would Jonathan do differently if he was going to redo college? How can students optimize the expense of college? What was the benefit of Jonathan attending community college for two years prior to completing his degree at Virginia Tech? Take an inventory of your all your skills, to market yourself for future opportunities. Chris got his early start(s) because he made a significant effort to stand out among his peers. How can you stand out when looking for opportunities? How do Br

071 | Chris Hutchins, founder/CEO of Grove, a new, optimized financial planning company based in San Francisco, talks about how a life and career of entrepreneurship led him to the FI community, and his current business venture. And, how his new company meets the needs of the average person better than a traditional financial planner. What you'll hear in this episode: Is Chris a risk taker or financial conservative? How did Chris find his way into the financial planning and optimization world? Was Chris an entrepreneur growing up? Chris got his career started through relationships built in college – how can building relationships help open doors? Passion for entrepreneurship led Chris to make a move from New York to Silicon Valley. Although most people in the Silicon Valley have tech-related qualifications, Chris found his foothold in business development. How did Chris land his first job in the Silicon Valley? What steps did Chris take to earn an income after he was laid off in 2008? Did Chris’ wife buy int

070R | Updates from Brad and Jonathan, review of Vickie Robin’s episode, discussion of how ChooseFI aims to handle politics, and more updates from the ChooseFI community. Highlights: Brad is moving houses, making good community a priority in his family’s life CampFi MidAtlantic this weekend is Virginia this weekend, but there’s two more this year: Aug. 3-6 in Joshua Tree, Calif., Sept 7-10 in Little Rock, Ark. More info here: CampFi Jonathan started Skinny Waste, Fat Wallet. First episode is up on YouTube at www.choosefi.tv Review of Vickie Robin’s episode ...and more can be found at https://ChooseFI.com/070R   ——————-   Thank you for being a part of the ChooseFI community!