Radical Personal Finance 1021: Friday Q&A: Too Much Money To Know What To Do With, Trades vs. Knowledge Work, Saving Capital Gains Taxes
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May 24, 2024 Topics discussed in the podcast include managing surplus income, transitioning from military to civilian life, the potential of trades versus knowledge work, and strategies for minimizing capital gains taxes.
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Investing in Family and Children
- Invest time and money in your children's growth, including therapy or support if needed, for long-term payoffs.
- Consider having more children to enrich your life and family impact, if it aligns with your desires and finances.
Family Lifestyle and Values Matter
- Focus on creating a meaningful family lifestyle that instills core values aligning with your vision for your children.
- Balance financial income with investing time and effort into your kids to achieve significant long-term benefits.
Goal-Focused Financial Planning
- Develop clear goals such as buying rental properties now to secure cash flow for future sabbaticals or family time.
- Use financial flexibility to enable lifestyle choices that support children’s education and meaningful experiences like travel.