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
Nov 10, 2024 • 11min
2930: Heart Health and Your Retirement Well Being by Kathleen Coxwell on Cost of Healthcare Expenses
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 2930:Heart disease is the leading cause of death in the U.S., but it often goes overlooked in retirement planning. Kathleen Coxwell highlights that the risks of heart attack increase after retirement due to stress, loss of purpose, and lifestyle changes. By focusing on heart-healthy habits such as a proper diet, regular exercise, finding purpose, and having a detailed retirement plan, retirees can significantly improve both their health and well-being.Read along with the original article(s) here: https://www.newretirement.com/retirement/heart-health-and-your-retirement-well-being/Quotes to ponder:"Heart disease is both the leading cause of death in the U.S. and the most preventable.""Retirees within a year of transitioning from work were 40% more likely to have had a heart attack or stroke than those who were still working.""The key to regular exercise is less the exercise than the regular."Episode references:Health and Retirement Study: https://hrs.isr.umich.eduHolmes-Rahe Stress Inventory: https://www.stress.org/holmes-rahe-stress-inventory Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 9, 2024 • 12min
2929: Spending Less Versus Earning More by ESI of ESI Money on Building Wealth & 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 2929:ESI of ESIMoney.com explores the age-old debate of spending less versus earning more for financial success. Both strategies are essential: spending less yields immediate benefits, while earning more increases financial freedom over time. True financial growth comes from maximizing the gap between income and expenses by controlling spending and boosting earnings.Read along with the original article(s) here: https://esimoney.com/spending-less-versus-earning-more/Quotes to ponder:“Earning more without controlling spending is a waste.”“The real magic happens when you raise income AND cut expenses.”“Decide what’s important to you and spend on that (in moderation).”Episode references: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
Nov 8, 2024 • 12min
2928: Buy This, Not That by Dr. Jim Dahle of White Coat Investor on Personal Financial Decisions for A Rich Life
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 2928:Dr. Jim Dahle offers practical advice on financial decisions that can lead to wealth-building instead of debt accumulation. By choosing used cars, index funds, and experiences over flashy purchases like new cars, actively managed funds, and expensive homes, Dahle highlights the importance of strategic spending for long-term financial success.Read along with the original article(s) here: https://www.whitecoatinvestor.com/buy-this-not-that/Quotes to ponder:"Building wealth is about buying assets, not stuff.""The purchases that bring the most happiness are shared experiences with people we care about, not the stuff that fills our houses and garages.""You shouldn't buy a brand-new car until you're a millionaire." Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 7, 2024 • 10min
2927: Greater Riches Than Wealth by Joshua Becker of Becoming Minimalist on Financial Life 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 2927:Joshua Becker challenges the common pursuit of wealth, arguing that true riches lie beyond financial accumulation. By removing the desire for money, we unlock deeper happiness, security in relationships, and greater fulfillment in life. Becker invites readers to reassess their values, highlighting how generosity, contentment, and purposeful work can replace the relentless drive for wealth.Read along with the original article(s) here: https://www.becomingminimalist.com/richer/Quotes to ponder:"Happiness has been available to us all along once we remove the desire for money.""People who want to get rich fall into a trap that often leads to ruin and regret.""Generosity is more about priorities than it is about income."Episode references:Zig Ziglar's Quote on Money: https://www.brainyquote.com/quotes/zig_ziglar_125708 Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 6, 2024 • 12min
2926: Put Your Money Fears in Perspective by David Champion with Can I Retire Yet on Retirement 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 2926:David Champion reflects on the fear many retirees face as they shift from earning income to relying on savings, particularly in volatile times. He highlights how historical resilience in financial markets, combined with flexibility in spending, can help retirees overcome excessive worry about their portfolios running dry. Champion’s own experience offers reassurance that most financial fears are overblown, even amid global crises.Read along with the original article(s) here: https://www.caniretireyet.com/put-your-money-fears-in-perspective/Quotes to ponder:"Worrying is like paying a debt you don’t owe; I have spent most of my life worrying about things that never happened.""The fear of outliving my savings has abated. With five years of data in the rearview mirror, the upshot is that my net worth is 6.3% higher today than it was when I retired.""For many who still work, the only thing standing between them and their dreams is the perceived vulnerability of their nest eggs." Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 5, 2024 • 12min
2925: Stop Asking for Permission AND What No “Financial Advisor” Will Ever Tell You by Derick Van Ness
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 2925:Derick Van Ness challenges readers to stop seeking external validation and start trusting their instincts to make bold decisions. He emphasizes that real success comes from carving your own path, rather than conforming to societal expectations, and highlights the opportunity cost of following the status quo, which often leads to missed financial and personal growth opportunities.Read along with the original article(s) here: https://www.biglifefinancial.com/blog/2018/6/16/stop-asking-for-permission & https://www.biglifefinancial.com/blog/2017/9/4/what-no-financial-advisor-will-ever-tell-youQuotes to ponder:"It's ok to be different. In fact, the world NEEDS you to be different. It's how you create unique value in the world and why people love you!""Choosing your own path truly is the key to success. It's what has created the best parts of your life, so don't be afraid of it.""The opportunity cost of seeking too much external validation from the wrong people is that you end up creating a life that isn’t authentic to you." Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 4, 2024 • 13min
2924: Slam Dunk Financial Planning by Jesse Cramer of Best Interest Blog on Investment Portfolio 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 2924:Jesse Cramer explores how smart financial planning mirrors basketball strategy: take the guaranteed shot instead of chasing risky gains. He explains how narrowing the range of outcomes through careful planning like diversifying investments or giving yourself time leads to financial dependability and peace of mind, avoiding unnecessary risks.Read along with the original article(s) here: https://bestinterest.blog/slam-dunk-financial-planning/Quotes to ponder:"There’s a 60% chance I live the exact lifestyle I want to in retirement. But no matter what, all three scenarios are acceptable to me, so there’s a 100% chance I’ll enjoy life throughout my retirement.""Reducing your range of outcomes has many benefits. In this particular basketball scenario, simple math supports it; 99% of 2 points is better than ~40% of 3 points.""Why risk something you have and need for something you don’t have and don’t need?"Episode references:Risk Parity Radio podcast: https://www.riskparityradio.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 3, 2024 • 12min
2923: Conventional Money Advice Won't Create The Life You Want by Nacho Average Fro on Budgeting
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 2923:Jessica challenges conventional money advice, like the 50/30/20 rule, as ineffective for high-achievers. Instead of following one-size-fits-all budgeting models, she suggests decluttering financial priorities and creating personalized guidelines that align with individual goals and seasons of life. This approach helps achievers build a financial plan that truly supports the life they desire.Read along with the original article(s) here: https://www.nachoaveragefro.com/blog/50-30-20-budgeting-wont-help-you-build-the-life-you-desireQuotes to ponder:"You cannot build the life you want using someone else's rules.""Eliminating overwhelm is always the first step.""Your budget line items will drive your actions and subsequent habits and routines." Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 3, 2024 • 11min
2922: Would You Take A Bet That Would Change Your Life? Probably Not. Here’s Why by Nir Eyal
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 2922:Nir Eyal explores the power of betting on yourself to change habits, highlighting a study that shows how putting money at risk can significantly boost success rates, particularly in quitting smoking. Despite its effectiveness, this approach remains underused due to fear of failure and the discomfort of risking money. Eyal delves into why people resist such bets and how understanding that resistance can lead to better self-discipline.Read along with the original article(s) here: https://www.nirandfar.com/habits-bet/Quotes to ponder:"People who risked $150 of their own money to win a $650 bonus prize were dramatically more likely to quit smoking than those who used traditional smoking cessation methods.""Only 13.7% of the participants assigned to the deposit program chose to enroll in it, whereas 90.0% of those assigned to the reward program chose to enroll.""Behavior change is hard and people will inevitably fail."Episode references:New England Journal of Medicine study on smoking cessation: https://www.nejm.orgNudge: https://www.amazon.com/Nudge-Improving-Decisions-Health-Happiness/dp/014311526X Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 2, 2024 • 12min
2921: How to Leave Your Financial Advisor in 5 Simple Steps by Andy Hill of Marriage, Kids and 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 2921:Andy Hill shares practical steps for parting ways with a financial advisor who may not be prioritizing your best interests. He outlines a straightforward, five-step guide to transition to a new advisor or self-directed investing. With insights on selecting an advisor, understanding fees, and minimizing emotional discomfort during the process, this guide empowers listeners to take charge of their financial future.Read along with the original article(s) here: https://marriagekidsandmoney.com/how-to-leave-your-investment-broker-in-5-simple-steps/Quotes to ponder:"Try your best to remove emotion from the equation. You may hurt some feelings but this is your retirement we're talking about here!""We didn't feel like we had a partner in our retirement success anymore. He was not performing his fiduciary duty.""Avoid commission-based financial advisors. They can be more interested in selling you products than advising you toward a successful retirement."Episode references:Econome Conference YouTube Channel - "Are FIRE and financial advisors incompatible?": https://www.youtube.com/watch?v=Qa7vLbUvPoI Learn more about your ad choices. Visit megaphone.fm/adchoices
