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
Feb 15, 2025 • 12min
3041: Sun Tzu’s Art of War Applied to Your Battle Against Debt by Simon Zhen with Financial Samurai
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 3041:Simon Zhen applies Sun Tzu’s Art of War to the fight for financial independence, offering timeless wisdom on how to aggressively eliminate debt and defend yourself against its return. From avoiding prolonged struggles with interest to maintaining a strong offense, these war tactics provide a blueprint for achieving lasting financial freedom.Read along with the original article(s) here: https://www.financialsamurai.com/sun-tzus-art-of-war-applied-to-your-battle-against-debt/Quotes to ponder:"Every battle is won before it is ever fought.""There is no instance of a country having benefited from prolonged warfare. In war, then, let your great object be victory, not lengthy campaigns.""If you know the enemy and know yourself, you need not fear the result of a hundred battles." Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 14, 2025 • 12min
3040: FIRE Is For Wimps by A Purple Life on Financial Independence
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 3040:A Purple Life argues that pursuing financial independence is the wimpy way out, allowing people to build an impenetrable safety net before taking any leaps. By carefully structuring each transition from remote work to downsizing to local nomadism the journey to early retirement becomes a series of calculated baby steps rather than a daring plunge.Read along with the original article(s) here: https://apurplelife.com/2020/08/25/fire-is-for-wimps/Quotes to ponder:“We build an adamantium safety net and THEN jump. We are literally the wimpiest people ever.”“Instead of quitting our corporate job to pursue our passions through entrepreneurship or live the exact life we dream of from Day 1, we don’t just do it. We don’t just take that leap.”“I created the best life I could and then figured out how I could inchworm my way towards my post-career life.” Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 13, 2025 • 10min
3039: Savings Tax Breaks for Middle America 529 Plans by Harry Stout of Financial Verse
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 3039:Harry N. Stout explains the two types of 529 Plans, college savings plans and prepaid tuition plans, along with their benefits, potential drawbacks, and flexibility in case of changing circumstances. Understanding these plans can help families make informed financial decisions while balancing college savings with long-term financial security.Read along with the original article(s) here: https://www.financialverse.com/post/savings-tax-breaks-for-middle-america-529-plansQuotes to ponder:"Funds in a 529 Plan grow federal tax-free and will not be taxed when the money is withdrawn for qualified education expenses.""There are a myriad of situations that can arise in the future such as the death of a child, the receipt of full academic or athletic scholarships, or the receipt of employer educational assistance.""Your child can take out a loan for school, you however cannot take out a loan for your retirement."Episode references:Saving for College: https://www.savingforcollege.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 12, 2025 • 10min
3038: 4 Emergency Funds You Need Not Including The Traditional Emergency Fund by Christina Browning of Our Rich Journey
Christina Browning, a financial expert and blogger at Our Rich Journey, dives into the crucial topic of emergency funds. She reveals four alternative funds beyond the traditional one, emphasizing diversification for financial security. Tips include maintaining a cash stash for quick access, using credit cards strategically, and having a support network in times of crisis. Christina highlights how these practical strategies not only bolster financial preparedness but also alleviate anxiety, ensuring you're ready for any unexpected challenges.
Feb 11, 2025 • 10min
3037: Investment Workshop 42 - Double Fisting Your Retirement Accounts by Wanderer of Millennial Revolution
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 3037:Wanderer of Millennial Revolution breaks down how certain workers, like educators, healthcare professionals, and government contractors can contribute to multiple tax-advantaged accounts simultaneously, slashing taxable income by tens of thousands of dollars. Many employees miss out simply because HR departments don’t advertise these options, but knowing the rules can help accelerate financial independence and early retirement.Read along with the original article(s) here: https://www.millennial-revolution.com/invest/workshop-invest/investment-workshop-42-double-fisting-retirement-accounts/Quotes to ponder:"This is a guy who deliberately took on student debt because he was able to somehow get it at a rate of 0.75%, then turned around and invested it in treasuries and made money off it.""It’s possible to qualify for multiple accounts at the same time.""If you don’t take advantage of it, that contribution room is gone forever."Episode references:How to Access Retirement Funds Early - Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 10, 2025 • 10min
3036: [Part 2] Generating Retirement Income Before Age 59 by Darrow Kirkpatrick of Can I Retire Yet
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 3036:Darrow Kirkpatrick explores strategies like the 72(t) Rule, home equity loans, and special tax exemptions, highlighting both their benefits and risks. While taxable accounts offer the most flexibility, understanding these alternatives can provide financial freedom before reaching 59½.Read along with the original article(s) here: https://www.caniretireyet.com/generating-retirement-income-before-age-59/Quotes to ponder:"Once you start down the 72(t) road you are essentially locked in for a period of time.""If you take out any kind of loan in early retirement, you are assuming that you will have the cash flow later in retirement to easily pay off the loan.""The very best way to save for early retirement is probably to max out your tax-sheltered account contributions and then keep on saving into taxable accounts during your working years."Episode references:Dinkytown.net: https://www.dinkytown.netCalcXML: https://www.calcxml.com"How to Access Retirement Funds Early" by Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early72T.net: https://72t.net Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 9, 2025 • 11min
3035: [Part 1] Generating Retirement Income Before Age 59 by Darrow Kirkpatrick of Can I Retire Yet
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 3035:Darrow Kirkpatrick explores various strategies, from leveraging taxable investment accounts to taking advantage of Roth contributions and employer-based 401(k) rules. With careful planning, it's possible to generate income while preserving long-term financial security.Read along with the original article(s) here: https://www.caniretireyet.com/generating-retirement-income-before-age-59/Quotes to ponder:"You can withdraw the contributions you made to your Roth at any time, and you pay neither taxes nor penalties.""Taxable accounts are the unsung heroes of retirement saving.""Depending on the timing, this rule could give you more than four years of penalty-free retirement income before reaching age 59-½."Episode references:Oblivious Investor post on the Age 55 Rule: https://obliviousinvestor.com/How to Access Retirement Funds Early by Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 9, 2025 • 11min
3034: How to Teach Kids Where Money Comes From by Kalen Bruce of Freedom Sprout
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 3034:Kalen Bruce breaks down the five ways money is earned, helping parents teach kids financial responsibility. Money comes from work, ideas, investments, generosity, and luck - each playing a role in shaping financial habits. By understanding these sources, children can develop a strong work ethic, creativity, and a sense of stewardship over their finances.Read along with the original article(s) here: https://freedomsprout.com/where-money-comes-from/Quotes to ponder:"Before kids understand any other place money comes from, they need to know it comes from work.""Ideas themselves don’t produce money, but kids need to know that ideas can definitely lead to money.""Kids need to know where money comes from as early on as possible. Once they understand it’s something that is worked for and created, they can start to develop their own ideas for how they’ll acquire money." Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 8, 2025 • 10min
3033: 6 Tips for Diving into Property Investments by Elizabeth with The Budget Mom
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 3033:Elizabeth from TheBudgetMom.com shares six essential tips for getting started, including assessing your finances, starting with residential properties, and building a strong team of professionals. By staying informed and having a solid strategy, you can navigate the risks and maximize the rewards of property investment.Read along with the original article(s) here: https://www.thebudgetmom.com/tips-for-getting-started-in-property-investment/Quotes to ponder:"You need to take a look at your finances. Make a note of your expenses, income, and even assets so that you know exactly what you have and what changes you need to make to have enough capital.""One mistake I made with one of my first investments was letting my heart rule my decisions. It turns out; most people want clean and easy.""Part of being well informed includes staying safe. So this means avoiding pesky get-rich-quick schemes because they usually turn out to be a waste of time and money in the end." Learn more about your ad choices. Visit megaphone.fm/adchoices
Feb 7, 2025 • 10min
3032: When Renting is Smarter Than Buying by Sierra Black with Get Rich Slowly
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 3032:Sierra Black explores how renting can often be the smarter financial choice, especially for items that depreciate quickly or have limited use. By weighing costs, resale value, and usage frequency, you can make informed decisions that maximize value and minimize waste.Read along with the original article(s) here: https://www.getrichslowly.org/when-renting-is-smarter-than-buying/Quotes to ponder:"Most products aren't investments. They lose value the moment you take them home from the shop, and continue to depreciate the longer you own them and the more you use them.""Anytime you're buying something you have a limited use for, you might want to pause and consider renting instead.""The key is to answer the questions mentioned and figure out if it will cost you more to rent or buy the thing you want."Episode references:Chegg (textbook rentals): https://www.chegg.com Learn more about your ad choices. Visit megaphone.fm/adchoices
