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
Jul 22, 2024 • 12min
2804: The Definition of Financial Success is Not So Obvious by Craig Stephens of RetireBeforeDad on Money Goals
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 2804:Craig Stephens from RetireBeforeDad.com challenges conventional notions of financial success, arguing that it goes beyond mere wealth accumulation. True financial success, he suggests, is about aligning your finances with your personal values and using your resources to support an ideal, fulfilling life.Read along with the original article(s) here: https://www.retirebeforedad.com/definition-financial-success/Quotes to ponder:"Success is not always what it’s perceived to be.""Financial success is a combination of wealth and wisdom.""It’s about optimizing your finances in alignment with your values and what makes you the happiest."Episode references:The Happiness Curve: https://www.amazon.com/Happiness-Curve-Life-Better-After/dp/1250078806 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 21, 2024 • 12min
2803: 5 Things You Need To Consider When Balancing Student Loan Debt and Saving For Retirement by Kimberly Hamilton
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 2803:Kimberly Hamilton explores the critical balance between tackling student loan debt and saving for retirement. She provides actionable strategies to help millennials navigate financial priorities, emphasizing the importance of early investing, taking advantage of employer matches, and understanding interest rates to optimize long-term financial health.Read along with the original article(s) here: https://thefinancetwins.com/balancing-student-loan-debt-and-retirement/Quotes to ponder:"Paying off your loans can be stressful, I know firsthand, and sometimes knowing you’re decreasing the balance feels better than saving for a date 30 years in the future.""This makes meeting your employer match a no-brainer. If you’re already making the minimum payments on your student debt, I recommend you do this too.""Waiting even just a few years can cost you tens to hundreds of thousands of dollars in the long run."Episode references:IRA Information: https://www.irs.gov/retirement-plans/traditional-and-roth-irasU.S. Stock Market Return Data: https://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 21, 2024 • 13min
2802: The Diet That Has No Name (and Why It May be the Best Thing Ever) by Nia Shanks on Personal Wellbeing
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 2802:Nia Shanks introduces a transformative approach to dieting that focuses on mindful eating and self-compassion, rather than rigid rules and restrictions. This method promotes sustainable health and happiness by encouraging a positive relationship with food and body image.Read along with the original article(s) here: https://www.niashanks.com/the-diet-that-has-no-name/Quotes to ponder:"Eat in a way that makes you feel your best.""Focus on nourishment and enjoyment, rather than restriction and guilt.""Practice self-compassion and make choices that honor your body and well-being."Episode references:Self-Compassion: The Proven Power of Being Kind to Yourself: https://self-compassion.org/Body Kindness: https://www.bodykindnessbook.com/Intuitive Eating: https://www.intuitiveeating.org/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 20, 2024 • 13min
2801: Personal Budgets Fail Because They Aren’t Fun. Here’s How You Fix That by U-Ming Lee
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 2801:Setting a personal budget often feels restrictive and tedious, but U-Ming Lee offers a refreshing perspective by highlighting the importance of incorporating fun into the process. By allocating a portion of your budget for small, enjoyable indulgences, you can transform budgeting from a burdensome task into a pleasurable activity that helps maintain financial discipline while ensuring happiness.Read along with the original article(s) here: https://themakingofamillionaire.com/personal-budgets-fail-because-they-arent-fun-here-s-how-you-fix-that-1acb40efbd02Quotes to ponder:"Allowing myself to incorporate fun into my personal budgeting completely transformed my relationship with the process.""The delayed gratification logic of 'sacrifice now, gain more later' only works when the gain is guaranteed.""Experiences have time value as well. You might not remember how much you paid to attend that awesome party, but the warm memories will last a lifetime."Episode references:Hedonic Adaptation: https://positivepsychology.com/hedonic-treadmill/Compound Interest: https://www.investopedia.com/terms/c/compoundinterest.aspTime Value of Money: https://www.investopedia.com/terms/t/timevalueofmoney.asp Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 19, 2024 • 11min
2800: Retirement Solutions for the 7 Worst Retirement Mistakes by Kathleen Coxwell of New Retirement
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 2800:Kathleen Coxwell from NewRetirement.com outlines essential retirement strategies to avoid the most common financial mistakes, ensuring a secure and sustainable retirement. Learn how to maximize your savings, manage debt, and plan effectively to maintain your desired lifestyle throughout your retirement years.Read along with the original article(s) here: https://www.newretirement.com/retirement/retirement-solutions-for-financial-mistakes/Quotes to ponder:"The earlier you start planning and saving for retirement, the more successful you’re going to be.""That is a large expense that can more rapidly drain your nest egg. Ideally you want to be debt free before you retire.""Conventional wisdom is that you should only withdraw about 4% of your nest egg to live." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 18, 2024 • 10min
2799: Four Retirement Myths I’m Hearing by Michael Smith of Financial Finesse on Personal Finance 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 2799:Michael Smith of FinancialFinesse.com debunks four common myths about retirement, emphasizing the continued relevance of Social Security, the insufficiency of relying solely on Social Security, the manageable cost of medical insurance premiums, and the feasibility of achieving retirement with consistent savings efforts. His insights encourage proactive financial planning to secure a comfortable retirement.Read along with the original article(s) here: https://www.financialfinesse.com/2015/09/18/four-retirement-myths-im-hearing/Quotes to ponder:"Social Security should still be a piece of your retirement foundation. Don’t discount the importance of Social Security.""Most of us will need a part time job, distributions from our retirement plans or withdrawals from our savings and investment accounts, combined with Social Security, to live the lifestyle that we want.""Retirement is possible for everyone. It just requires some effort."Episode references:Healthcare.gov: https://www.healthcare.gov Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 17, 2024 • 10min
2798: Rescue Me: The Problem With Relying on Our Purchases to Save Us by Emily Rose Barr with NoSidebar
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 2798:Emily Rose Barr explores the common misconception that purchases can significantly change our lives. She highlights how relying on material goods for personal transformation often leads to disappointment and emphasizes the importance of addressing deeper emotional and psychological needs directly.Read along with the original article(s) here: https://nosidebar.com/relying-on-our-purchases/Quotes to ponder:"I thought when I got a Roomba, it would save my life.""Nothing we buy will ever change us, no matter how firmly we believe it will.""We keep looking for life rafts in all the wrong places." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 16, 2024 • 12min
2797: Shortest Path to Financial Independence by The Mad Fientist on Building Wealth & FIRE
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 2797:The Mad Fientist explores the quickest route to financial independence by identifying essential expenses, reducing unnecessary costs, and finding ways to generate supplemental income. His approach emphasizes strategic lifestyle changes and geographical flexibility to achieve financial freedom sooner, allowing more time for enjoyable and meaningful work.Read along with the original article(s) here: https://www.madfientist.com/shortest-path-to-financial-independence/Quotes to ponder:"Financial independence is having enough income from your assets to cover your essential expenses so that you can survive without ever having to work again.""If you really envisage your post-FI life, you can quite happily drop expenses that are no longer necessary or important to you.""By living somewhere like Thailand for a portion of the year, the income from my United States investments and businesses will go much further than if I lived in the States." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 15, 2024 • 9min
2796: How to Retire on 1 Million or Less by ESI of ESI Money on Frugality & 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 2796:ESI of ESIMoney.com explains how you can retire early with a net worth of $1 million or less, using strategies common among the FIRE (Financial Independence Retire Early) community. Learn how to maximize your savings, minimize debt, and invest wisely to achieve financial independence by your mid-30s and live comfortably without a traditional job.Read along with the original article(s) here: https://esimoney.com/retire-1-million-less/Quotes to ponder:"The steps to FIRE won’t surprise you. They involve earning, saving, and investing.""They are used to living on a small portion of their earnings, so retirement is no different.""This extra allows you to quit your 'normal' job much sooner."Episode references:The 4% Rule Explained: https://www.investopedia.com/terms/f/four-percent-rule.asp Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 14, 2024 • 11min
2795: Success by Exhaustion by Nick Maggiulli of Of Dollars and Data on How to Build 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 2795:Nick Maggiulli highlights how IBM's legal team, Cravath, Swain, & Moore LLP, defended against antitrust charges through sheer tenacity and exhaustive effort, demonstrating that success can be achieved by outworking opponents. This brute force approach extends to various domains, including finance, where strategies like indexing and high savings rates can lead to financial stability regardless of market conditions.Read along with the original article(s) here: https://ofdollarsanddata.com/success-by-exhaustion/Quotes to ponder:"They buried us in paper. They produced reams of paper in futile endeavors. We stacked up the paper - it was five or six feet tall!""The majority of (actual) wars have not been won with strategy, bravery, training, or superior equipment, but brute force.""If you think about it, indexing is a brute force solution to the problem of picking stocks."Episode references:What It Takes: https://www.amazon.com/What-Takes-Secrets-Greatest-Professional/dp/1118517725 Learn more about your ad choices. Visit megaphone.fm/adchoices
