ChooseFI

In this episode: investing, losing money hurts, pessimism, optimism, index funds, psychology, history, and building wealth. Whether you're a confident investor or weary of playing the market, there is still a lot to be learned when it comes to your investments. This week we are re-joined by friend of the podcast Brian Feroldi to discuss important truths and takeaways he's learned as a decades-long investor, from navigating the psychology and history of the market, to focusing on longevity and simplicity rather than getting rich quick. When listening to this episode, remember that playing the market doesn't have to be a complicated game, and no one should feel un-equipped to invest! Just be sure to understand that investing will never be a perfect journey, and preparing yourself for low points may help you make better decisions in the long run! Brian Feroldi: Website: brianferoldi.com Twitter: @brianferoldi Book: "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" By Brian Feroldi Timestamps: 0:41 - Introduction 4:27 - You Will Be Wrong 9:45 - Losing Money HURTS 12:54 - Humans Are Naturally Bad Investors 16:09 - Pessimism And Optimism 20:22 - The Power Of Index Funds 22:31 - The Power Of History And Psychology 24:45 - Avoiding Ruin Is A Skill 28:56 - Keeping It Simple 35:24 - To Build Wealth, You Need To Invest 37:50 - Conclusion Resources Mentioned In Today's Episode: "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger" by Charles T. Munger "The Psychology of Money: Timeless lessons on wealth, greed, and happiness" by Morgan Housel "Expectations Investing: Reading Stock Prices for Better Returns" by Michael J. Mauboussin Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: the phases of FI, your spending framework, dying with zero, changing your anchor points, and the value of time. This podcast offers insight to what the path to FI can look like for listeners, and while we usually speak broadly to our listeners who are all at different stages of FI, it's important to look back, as well as look forward to see how this journey has changed for us. This week we are joined by Carl Jensen and Doug Cunnington of Mile High FI to talk about the evolution of the FI movement from when we all began this journey, as well as reflect and discuss the trends and important takeaways of where we see the FI movement going. While finding your own balance is important in all parts of life, finding balance while on the FI journey is just as important! Learning to become intentional with your spending is also important. It can be extremely beneficial to your life to learn healthier ways to spend rather than deprive yourself of some of the most important items or experiences that bring you joy! So remember, whether you are at the beginning or well on your way towards reaching your FI goal, you will evolve with FI over time and application, just as FI will evolve around you! Mile High FI: Website: milehighfi.com Podcast: Mile High FI Newsletter: Join The Mile High FI Club Timestamps: 1:25 – Introduction 4:41 – The Phases of FI 11:18 – Building Your Life-Spending Framework 18:31 – What's Worth Spending On 26:16 – Re-Evaluating Anchor Points 33:43 – The Value of Saving Time 42:22 – Dying With Zero 51:02 – Why Wait For Death To Help Your Loved Ones Fiscally? 56:32 – Buying A Concert 59:30 – Conclusion Resources Mentioned In Today's Episode: The Skill of Spending | Mr. Money Mustache | ChooseFI Ep 432 The Tim Ferris Show Episode 661 The Mad Fientist "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins The Tail End "Outlive: The Science and Art of Longevity" by Dr. Peter Attia Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: travel rewards, credit cards, the true cost of buying a car, health, retirement, and community wins. This week we are re-joined by Ginger for another Round-Up episode where we will briefly discuss travel rewards, updates on Ginger's credit card journey, the value of implementing new habits, and also dip into the listener mailbag! Over the course of this podcast we often discuss the importance of taking action and making changes in your life to not only achieve FI but also improve your life overall. While we know changes don't happen overnight, (just as no one can reach their FI goal overnight) it's important to remember that sometimes the best thing you can do is take action little by little. Sometimes this means budgeting, and other times it can mean breaking free from an unhealthy frugal mindset in order improve your quality of life! Whatever the changes you wish to make or habits you want to create are, remember it's never too late to begin! Timestamps: 0:10 - Introduction 0:29 - Travel Rewards 6:52 - Global Entry/Credit Cards 16:30 - The True Cost Of Buying A Car 25:49 - Health, Fitness, and Habits 39:44 - Pensions and Retirement Numbers 48:22 - Community Wins 54:34 - Conclusion Resources Mentioned In Today's Episode: Dollars and Sense | Clint Murphy & Ginger | ChooseFI Ep 438 "Dollars and Sense: How We Misthink Money and How to Spend Smarter" By Jeff Kreisler and Dan Ariely Featured Travel Rewards Articles Rewards Credit Card Offers From Our Partners Outside 365 | Greg Heil | ChooseFI Ep 433 "Outlive: The Science and Art of Longevity" by Dr. Peter Attia The Valuist Returns | FI Roundup with Bo Loy | ChooseFI Ep 441 Atomic Habits | James Clear | ChooseFI Ep 157 "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear The Golden Albatross | Grumpus Maximus | ChooseFI Ep 57 The Golden Albatross | Grumpus Maximus | ChooseFI Ep 227 Is Your Pension Healthy? | ChooseFI Ep 316 "The Golden Albatross: How To Determine If Your Pension Is Worth It" by Grumpus Maximus FI Is Fun Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: the travelers triangle, booking early, flexibility, planning, hotels, and knowing you are getting a deal. This week Suzy joins us for a new installment of travel rewards tips, where we will be diving deeper into how you can optimize your savings and travel points to get the most out of your travels. While the subject matter we are tackling today may be more useful to listeners who have already acquired the necessary credit cards and travel points, there is still a lot of helpful information you can use when planning your next trip! So whether that's learning to book early and play around with the sites mentioned on today's episode, or allowing flexibility to mitigate the stress of traveling, this episode is here to act as an additional resource to those learning to take advantage of what their travel points can offer. Timestamps: 1:24 - Introduction 6:09 - The Travelers Triangle 12:31 - Booking Ahead Of Time 23:28 - Tools For Travel Rewards 33:14 - Flexibility And Planning 45:10 - FI Booking Processes 57:57 - Taxes,Fees, And Knowing Your Getting A Deal 64:06 - Hotels 70:45 - Conclusion Resources Mentioned In Today's Episode: ChooseFI Travel Rewards CashFreely and Travel Freely Signup Links Seats.aero point.me BoundlessMiles Max Miles Instagram Max Miles Website GeoBreeze Travel Podcast Bens Big Deal Frequent Traveler University Frequent Miler On The Air Sonic Travelers Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: the continuum of FI, skilling up, chasing true value, the power of connection, and second generation FI. This week we are rejoined by friend of the podcast Bo Loy to talk about finding value on the FI journey, drowning out the "noise," and the importance of not depriving yourself of happiness in order to reach your FI goal. While the journey to FI does require you to make financial changes and pick up new habits that can launch you towards financial independence, the purpose of this journey is never to deprive or restrict yourself in order to reach your goal. No matter when you begin this journey, the goal in mind should be taking steps in order to improve your life both financially AND mentally. Not sacrificing the things that bring value to it! There's a lot to learn on the path to FI, but it's important to remember that what you are working towards is more than just a number, it's personal happiness, fulfillment, and more! Timestamps: 0:58 - Introduction 4:37 - The Continuum of FI 11:51 - Skilling Up 15:44 - Life Updates 25:59 - Chasing True Value 34:55 - Meeting Your kids Where Their Interests Lie 41:17 - The Power of Connection 48:20 - Just Going For It 52:24 - Conclusion Resources Mentioned In Today's Episode: The Valuist | Bo Loy | ChooseFI Ep 396 Talent Stacker Dean Turner Training on Twitter "Outlive: The Science and Art of Longevity" by Dr. Peter Attia The Peter Attia Drive Podcast "Learned Optimism: How to Change Your Mind and Your Life" by Martin E.P. Seligman Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: money against mindset, fear setting, FI events, gap years, slow travel, and living intentionally. Everyone's relationship with money is different, just as everyones path to FI looks different, but how do you unlearn behaviors that could be holding you back? This week we are joined by Amy Minkley to discuss how finding FI changed her life while abroad, as well as the the importance of unlearning and breaking free of internalized stress when it comes to money. A large part of the FI journey is implementing new habits and the lessons you pick up along the way. However, an even larger and sometimes harder part of this journey requires you to be introspective and take an honest look at your relationship with money. While you can't go back and change the past, the beauty of FI is that you learn to make changes to ensure the future you want! No matter what your background, the path to FI is one that benefits everyone, because it not only gives you control of your life, but allows for independence to create the future you desire. So while it may feel comfortable to approach this journey by thinking of all the ways things can go wrong, remember to think of all the ways things can go right! Amy Minkley: Website: fifreedomretreats.com Mailing List: Get In Touch With Amy Here! Timestamps: 1:01 - Introduction 4:29 - How Amy Found FI 8:47 - Money Against Mindset 16:24 - Making The Tough But Right Choices For You 22:18 - International Teaching 27:43 - Fear Setting 36:20 - Living Intentionally 42:25 - FI Events 46:56 - Gap Years And Slow Travel 52:19 - Conclusion Resources Mentioned In Today's Episode: EconoME Conference CampFI Exploring International Teaching Opportunities | Scott & Rob | ChooseFI Ep. 109 "Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence" by Vicki Robin, Joe Dominguez, and Mr Money Mustache The Milestones Of FI | ChooseFI Ep. 32 Camp Mustache Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: success after FI, finding purpose, owning your time, investing in health, and spiritual pursuits. While reaching your FI number and subsequently retiring is an amazing achievement in itself, what are you supposed to do with yourself after getting there? Well, figuring that out is also a big step you are going to have to take on your FI journey. This week, we are once again joined by Chris Terrell to discuss the ways you can fill your time after achieving FI, and how to identify what gives you purpose in your post-work life. Earning back your time is only half the battle, putting that time to good use is up to you and you only! Timestamps: 1:20 – Introduction 3:02 – Success After FI 9:01 – What Do You Want To Do In Retirement? 16:06 – Finding Purpose 22:02 – Prioritizing Important Relationships 27:46 – The Benefits Of Owning Your Time 31:28 – Investing In Your Health 41:24 – Spiritual Pursuits and Volunteer Work 47:09 – Unstructured Time, Calendar Tyranny, and Work? 56:59 – Conclusion Resources Mentioned In Today's Episode: FI Frugal Hobbies | Chris Terrell | ChooseFI Ep 429 The Happy Philosopher | The Happiest Man In The Room | ChooseFI Ep 49 Financial Samurai The Tail End Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: the pain of paying, anchoring, relative value, sunk costs, response to stimulus, and opportunity cost. On this installment of the Book Club, we are joined by Clint Murphy and Ginger to discuss some of our favorite takeaways from Dan Ariely and Jeff Kreisler's "Dollars and Sense: How We Misthink Money and How to Spend Smarter," We often mention on this podcast the importance of actionable steps you must be willing to take while on the journey to FI, and this book is chalk-full of actionable tips and examples that could possibly be applied to many areas of your life, not just personal finance. While we know that personal finance is not unilateral and there are no correct steps and decisions that ensure success for everyone, we believe this book can help you better understand the decision making processes that goes into taking actionable steps on your FI journey! Book Club Selection: "Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dan Ariely and Jeff Kreisler Timestamps: 1:21 - Introduction 4:20 - Reducing The Pain Of Paying 11:42 - Anchoring 19:01 - Opportunity Cost and Saying No 25:40 - Relative Value 30:20 - Why We Don't Understand Fairness and Value 38:49 - Sunk Costs 46:31 - Overvaluing What Your Already Have 50:07 - Spreading The Gap Between Stimulus and Response 57:21 - Conclusion Resources Mentioned In Today's Episode: The Growth Guide Podcast Clint's Twitter: @IAmClintMurphy FI is Fun The Great Man Within "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins "Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions" by Dan Ariely Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

This week we are re-joined by friend of the podcast, Travis Hornsby, to discuss some critical updates and deadlines pertaining to student loan forgiveness. While the thought of paying off student loans can feel daunting, there may actually be some ways to mitigate the stress entirely! Though this episode may not pertain to your situation specifically, we believe it can act as a resource for some you may know, or others on this journey who are looking to potentially have their loans forgiven. Travis Hornsby: Website: StudentLoanPlanner.com (link to discounted consult) Timestamps: 1:14 - Introduction/Where Are We Today? 9:45 - Irreversible Decisions 11:55 - The PSLF and IDR Waiver 17:34 - $300 vs $1500 a month 23:30 - Searching and Patience, What Are The Action Steps? 31:33 - Conclusion Resources Mentioned In Today's Episode: The Student Loan Reset | The Student Loan Planner | ChooseFI Ep 391 Federal Student Aid Book a Consult with The Student Loan Planner (Discount through this link!) Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance

In this episode: getting comfortable investing, the vision boards, salary negotiations, and the skill of spending Whether it's wanting to pay off your debts or get yourself set up for your future, there are many motivations for wanting to begin the path towards FI. This week we are joined by listener and fan of the podcast Rakesh to discuss how his journey to FI has been over the last 3 years, and the lessons he's learned along the way. We often stress on the podcast the importance of bold moves and taking action as an important step to achieving FI, and Rakesh is the embodiment of just that! Everyone on this journey starts from a different place, just as everyone's long term goals differ, but don't allow yourself to be bogged down by the little hiccups that come with this journey. By pushing ahead and being mindful of your short and long term goals, you may find yourself stepping out of your comfort zone towards the life you want to be living! Timestamps: 1:15 - Introduction 4:50 - The Evolution Of The FI Journey 12:52 - Getting Comfortable Investing 22:09 - The Vision Board 30:39 - The Skill Of Spending And Future Planning 37:13 - Low Cost Of Living Areas 43:05 - Salary Negotiating And Job Transitioning 53:11 - The Impact Of Staying Put 56:06 - Conclusion Resources Mentioned In Today's Episode: Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305 How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | ChooseFI Ep 211 Negotiate Your Salary With Tori Dunlap | ChooseFI Ep 147 "Financial Feminist" By Tori Dunlap Community Building With Mr. Money Mustache And Mr. 1500 | ChooseFI Ep 131 JL Collins "Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't" by Brian Feroldi Alignment & Adjustments | Scott & Taylor Rieckens | ChooseFI Ep 403 Subscribe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Keep learning or start a new side hustle with one of our educational courses Commission-Free Investing with M1 Finance