Millennial Investing - The Investor’s Podcast Network

MI Rewind: Bitcoin and Financial Independence w/ Jim Crider

Aug 9, 2024

01:04:17

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Jim Crider, founder of Intentional Living FP, shares insights on achieving early financial independence tailored for families. He discusses the unique financial planning challenges millennials face, emphasizing the balance between enjoying life and planning for the future. Crider also tackles information overload in today's fast-paced world and explores Bitcoin's role in financial strategies, suggesting a 10% to 20% portfolio allocation. His focus on intentional financial planning aims to help millennials navigate their financial journeys with purpose and clarity.

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Quick takeaways

Engaging a financial planner helps millennials align their financial decisions with personal values and long-term goals from an early stage.

Financial independence should be viewed as the freedom to choose time usage, promoting intentional living over the traditional early retirement mindset.

With an abundance of financial information available, creating a dynamic and tailored financial plan is essential for managing personal circumstances effectively.

Deep dives

Understanding Financial Independence

Financial independence traditionally emphasizes aggressive saving and early retirement, often misunderstood as a period of complete non-work. Many pursue the idea of accumulating wealth quickly to retire young, but this can lead to feelings of emptiness and lack of fulfillment. It’s important to view financial independence not just as an endpoint, but as a state of having the freedom to choose how to spend time, including pursuing passion projects or simply enjoying life. This broader perspective shifts the focus from retiring early to living intentionally and engaging in meaningful work, whether paid or unpaid.

The Importance of Financial Independence and Purposeful Planning

01:26

Balancing Financial Planning with Present Living

03:51

Rethinking Financial Planning: A Life-Centered Approach

04:37

Managing Millennial Family Finances

01:34

Intro

2min

Millennials and Financial Planning: A Dynamic Approach

13min

Navigating Debt Before Retirement

5min

Balancing Debt and Financial Freedom

15min

Exploring Early Retirement and Financial Independence

5min

Navigating Financial Choices

9min

Bitcoin in Today's Financial Landscape

10min

Clay Finck chats with Jim Crider about the benefits of having a financial planner, how millennials differ from other clients Jim has worked with, what it really means to achieve financial independence, how to deal with information overload, Jim’s thoughts on Bitcoin, and much, much more!

Jim Crider is the founder of Intentional Living FP which helps families achieve early financial independence. Intentional Living FP helps their clients navigate the decisions, opportunities, and obstacles that they face so their money is used efficiently and effectively to serve its purpose in your life.

IN THIS EPISODE, YOU’LL LEARN

00:00 - Intro

02:33 - What the benefits are of having a financial planner.

07:36 - When someone should consider getting a financial planner themselves.

09:32 - The differences Jim has seen working with Millennials compared to other clients.

12:41 - How millennials living a busy life can stay on top of their finances.

22:36 - What millennials can do to find the right balance between preparing for your future, while still enjoying the present.

28:35 - What financial independence really means.

37:49 - Whether you should focus on paying off your debt early, or invest the extra cash.

37:49 - How to sort through and deal with information overload in a world where information is free and everywhere.

50:42 - Whether millennials should consider Bitcoin as a part of their financial plan.

50:42 - Jim's thoughts on how much Bitcoin to allocate in a portfolio.

55:29 - Jim’s recommended resources for learning about Bitcoin.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Listen to Bitcoin Fundamentals hosted by Preston Pysh.
Related Episode: Listen to MI115: Young Investor’s Getting Started w/ Kelly Lannan, or watch the video.
Related Episode: Listen to BTC001: Bitcoin Common Misconceptions w/ Robert Breedlove, or watch the video.
Check out the books mentioned in the podcast here.
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