Optimal Finance Daily - Financial Independence and Money Advice
Optimal Living Daily | Diania Merriam
Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals.This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future.Listen now, and become an OLD friend--your optimal life awaits...
Episodes
Mentioned books
Aug 18, 2025 • 12min
3252: Why You Shouldn't Buy Target Date Funds by Wanderer of Millennial Revolution on Investment Advice
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3252:
Wanderer breaks down why Target Date Funds may not be the smart, set-it-and-forget-it solution they're marketed as. Hidden fees, unnecessary complexity, and poor cost-to-value ratios make them easy to beat with a DIY ETF strategy, saving you money and boosting returns with just a little more effort.
Read along with the original article(s) here: https://www.millennial-revolution.com/invest/target-date-funds/
Quotes to ponder:
"You're employing a team of dozens of people to do a job that a spreadsheet can do."
"I have another name for Convenience Shoppers: Incredibly Stupid and Lazy People."
Episode references:
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 17, 2025 • 9min
3251: Specific Identification of Shares by The Mad Fientist on How to Boost your Investment Returns
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3251:
The Mad Fientist breaks down a powerful but often overlooked tax strategy that can significantly boost your investment returns: specific share identification. By choosing exactly which shares to sell, you can minimize capital gains taxes and optimize long-term wealth accumulation, a simple tweak with massive financial upside.
Read along with the original article(s) here: https://www.madfientist.com/specific-share-identification/
Quotes to ponder:
"Most brokerages default to FIFO (first-in, first-out), but that’s not usually the most tax-efficient method."
"With specific share identification, you choose which shares you sell, which means you can control how much tax you’ll pay."
"Taking a few minutes to choose which shares to sell can save you thousands of dollars over your investing lifetime."
Episode references:
Vanguard - Cost Basis Methods: https://investor.vanguard.com/investor-resources-education/taxes/cost-basis
IRS Specific Identification of Shares: https://www.irs.gov/publications/p550#en_US_2023_publink100099023 Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 17, 2025 • 9min
3250: Seven Guidelines To Keep The Business of Your Marriage Going Strong by Dr. Margaret Rutherford
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3250:
Dr. Margaret Rutherford shares seven practical guidelines for treating your marriage like a well-run business, emphasizing regular "meetings" to align on finances, goals, and shared responsibilities. By approaching your relationship with intention and open communication, couples can avoid resentment, build trust, and maintain a healthy, collaborative partnership.
Read along with the original article(s) here: https://drmargaretrutherford.com/seven-guidelines-to-keep-the-business-of-your-marriage-going-strong/
Quotes to ponder:
"You get tired of doing even what you do well."
"Both of you will be involved in 'the business' of your marriage."
"Treat this meeting in a similar way [to a workplace meeting]."
Episode references:
National Foundation for Credit Counseling: https://www.nfcc.org Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 16, 2025 • 12min
3249: The Most Common Reasons People File for Bankruptcy by the DebtMD Team on Navigating Financial Hardship
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3249:
The DebtMD Team breaks down the most common, often unavoidable, reasons people file for bankruptcy from overwhelming medical bills and job loss to divorce and student debt. By reframing bankruptcy as a strategic reset rather than a personal failure, they offer clarity and potential paths forward for those navigating financial hardship.
Read along with the original article(s) here: https://www.debtmd.com/blog/the-most-common-reasons-people-file-for-bankruptcy
Quotes to ponder:
"Medical expenses are actually one of the biggest reasons people file for bankruptcy."
"Despite the usual daily expenses, losing your job also acquires more expenditures."
"Bankruptcy might not always be seen as the best solution to go with." Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 15, 2025 • 11min
3248: Long-Term Care Insurance is a Waste of Money by Mike Ballew of EggStack on Wealth Preservation
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3248:
Mike Ballew challenges the conventional wisdom around long-term care insurance by exposing how misleading statistics and industry practices inflate the perceived need for it. He presents a compelling case for self-insurance, showing how investing the equivalent of monthly premiums could offer better financial protection and peace of mind in retirement.
Read along with the original article(s) here: https://eggstack.com/blog/2019-07-28-Long-Term-Care-Insurance-is-a-Waste-of-Money/
Quotes to ponder:
"Only 25 percent of nursing home stays last more than a year, and only five percent last more than two years."
"You can pay an insurance company $300 a month for decades and hope they’ll be there if you ever need them, or you can insure yourself."
"If you don’t need it, you can pass it on to your heirs. Try doing that with long-term care insurance." Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 14, 2025 • 11min
3247: [Part 2] The Five Biggest Millionaire Regrets by ESI on Financial Freedom and Building Wealth
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3247:
Many millionaires regret not diving into real estate investing earlier, missing out on cash flow, appreciation, and financial freedom. ESI highlights how a delayed financial education and lack of work-life balance often lead to deeper personal and monetary consequences, lessons that offer valuable foresight for anyone building wealth.
Read along with the original article(s) here: https://esimoney.com/the-five-biggest-millionaire-regrets/
Quotes to ponder:
"I regret not getting into the housing market in San Francisco. I could have purchased something to live in back in 2010 when I moved here."
"I would have studied personal finance more and not hired a financial advisor."
"My work/life balance in my 30’s is one of the reasons my first marriage didn’t work out."
Episode references:
John Bogle’s writings (Bogleheads Guide to Investing): https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283
The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 13, 2025 • 11min
3246: [Part 1] The Five Biggest Millionaire Regrets by ESI on How to Build Wealth and Investing Advice
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3246:
ESI shares powerful lessons from high-net-worth individuals who look back and wish they had taken smarter steps earlier in life. From missed savings windows to passed-over career opportunities, these millionaire regrets offer a rare and honest blueprint for building wealth and avoiding common pitfalls that even the affluent aren’t immune to.
Read along with the original article(s) here: https://esimoney.com/the-five-biggest-millionaire-regrets/
Quotes to ponder:
"I would have saved more as soon as I graduated from college, and I would have invested entirely in index funds."
"Time is the most important thing in the context of money, and I lost or blew 10 years of time and money."
"I should have been more open to changing jobs rather than being loyal to companies that didn’t return the loyalty." Learn more about your ad choices. Visit megaphone.fm/adchoices
Aug 12, 2025 • 12min
3245: There’s No Best Way to Invest AND You May Need to Save Only Half as Much Money for Retirement by Chris Reining
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3245:
Chris Reining unpacks the paradoxes of investing and life, showing how seemingly contradictory advice can both hold truth depending on context. He urges listeners to move beyond black-and-white thinking, embrace nuance, and make intentional choices, whether in managing investments or living authentically.
Read along with the original article(s) here: https://chrisreining.com/best-way/ & https://chrisreining.com/save-half/
Quotes to ponder:
“There is no best answer. Each choice comes with its own set of benefits and drawbacks.”
“Nothing in life is so black and white.”
“Small amounts multiplied over 40 years always become big amounts at the end.”
Episode references:
The Power of Compounding: https://www.investopedia.com/terms/c/compounding.asp
Vanguard Total Stock Market Index Fund (VTSAX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vtsax Learn more about your ad choices. Visit megaphone.fm/adchoices
6 snips
Aug 11, 2025 • 11min
3244: Can You Figure Out What This Woman Earns? by Paula Pant of Afford Anything on Mindful Spending
Explore the critical distinction between income and true wealth as Paula Pant challenges common perceptions. Discover how mindful spending can lead to financial freedom and flexibility. Reflect on the hidden costs of traditional employment and whether your job aligns with personal aspirations. Uncover the importance of retaining earnings rather than just obsessing over income. This insightful discussion urges listeners to rethink their financial strategies for a more fulfilling life.
Aug 10, 2025 • 11min
3243: Is There Value in Buying an Extended Warranty? By Laurie Sepulveda with Women Who Money
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3243:
Laurie Sepulveda unpacks the true cost and often-overlooked fine print of extended warranties, showing how these contracts rarely offer the value consumers expect. Learn when it makes sense to say yes, when to walk away, and how to get peace of mind without overspending.
Read along with the original article(s) here: https://womenwhomoney.com/extended-warranty-value-worth/
Quotes to ponder:
"Service contracts cost extra and are sold separately."
"The chance of you needing a costly repair, even on a used car, are slim."
"You may still opt-in for service warranties, even when you know, the math may not work out in your favor since you find value in the peace of mind the coverage brings."
Episode references:
Warranty Week: https://www.warrantyweek.com
Federal Trade Commission – Service Contracts: https://consumer.ftc.gov/articles/extended-warranties-service-contracts
National Automobile Dealers Association (NADA): https://www.nada.org
Consumer Reports: https://www.consumerreports.org Learn more about your ad choices. Visit megaphone.fm/adchoices
