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
May 30, 2025 • 13min
3160: The Yield Shield: Preferred Shares by Wanderer of Millenial Revolution on Investment Income
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 3160:
Wanderer explains how incorporating preferred shares into a retirement portfolio can mitigate sequence-of-return risk by boosting income during the vulnerable early years of retirement. By swapping part of their bond allocation for these higher-yielding, bond-like assets, early retirees can increase cash flow while strategically managing volatility and cost.
Read along with the original article(s) here: https://www.millennial-revolution.com/invest/yield-shield/the-yield-shield-preferred-shares/
Quotes to ponder:
"A Preferred Share is kind of a mix between a stock and a bond."
"When you retire, you basically take a portion of your bond allocation and swap it for Preferreds."
"Our longer term plan as our portfolio grows (and our dependence on our Yield Shield decreases) is to exit these positions and pivot back towards a normal bond ETF."
Episode references:
iShares S&P/TSX Canadian Preferred Share Index ETF: https://www.blackrock.com/ca/individual/en/products/239832/ishares-sptsx-canadian-preferred-share-index-etf
Risk Parity Radio: https://www.riskparityradio.com/
iShares U.S. Preferred Stock ETF (PFF): https://www.ishares.com/us/products/239826/ishares-preferred-and-income-securities-etf Learn more about your ad choices. Visit megaphone.fm/adchoices
May 29, 2025 • 13min
3159: Luck, Credit, and the FIRE Movement by Sean Mullaney of FI Tax Guy 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 3159:
Sean Mullaney offers a compelling defense of the FIRE movement by reframing it not as a claim to credit or privilege, but as a tool for improving financial outcomes through intentional decision-making. Acknowledging the role of luck, he argues that FIRE equips individuals with a framework to optimize their financial lives regardless of their starting point, making better choices more likely to lead to better luck.
Read along with the original article(s) here: https://fitaxguy.com/2020/12/
Quotes to ponder:
"Luck and choices are not entirely unrelated. The better financial choices you make, the more likely it is you will have good financial outcomes and enjoy better luck along the way."
"Financial literacy without a framework and goals is sort of like teaching algebra in high school. There’s nothing wrong with it, but how much did algebra affect your adult life?"
"The point of the Financial Independence movement is not to 'deserve' financial success. Rather, the point is to make choices that increase the odds of financial success and having more financial options."
Episode references:
FI Healthcare: https://fihealthcare.com Learn more about your ad choices. Visit megaphone.fm/adchoices
May 28, 2025 • 8min
3158: How to Create "Tiny Advantages" and Crush Your Opponents by James Altucher on 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 3158:
James Altucher draws a powerful parallel between winning at chess and successful investing: both hinge on consistently building tiny advantages. From choosing debt-free companies with strong cash reserves to aligning with demographic trends, he reveals how small, smart moves compound into big wins, without relying on flashy predictions or risky gambles.
Read along with the original article(s) here: https://jamesaltucher.com/blog/what-makes-some-stocks-safer/
Quotes to ponder:
"Basically, accumulate tiny advantages throughout the game."
"If a company has a lot of cash in the bank and no debt, then it’s not going to file bankruptcy anytime soon."
"The goal is to find that very unique combination of stocks that could go up quite a bit that also have a good margin of safety around them."
Episode references:
S&P Dow Jones SPIVA U.S. Scorecard 2020: https://www.spglobal.com/spdji/en/research-insights/spiva/
The Power of Now: https://www.amazon.com/Power-Now-Guide-Spiritual-Enlightenment/dp/1577314808 Learn more about your ad choices. Visit megaphone.fm/adchoices
May 27, 2025 • 10min
3157: The 3 Most Important Words in Financial Planning by Erik Carter of Financial Finesse
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 3157:
Erik Carter underscores how embracing a margin of safety, a buffer against unpredictability, can transform your entire approach to financial planning, from investing and retirement to insurance and emergency savings. By preparing for less-than-ideal outcomes, you reduce financial stress and increase confidence in your long-term goals, all while building a more secure path to financial freedom.
Read along with the original article(s) here: https://www.financialfinesse.com/2013/09/05/the-3-most-important-words-in-retirement-planning/
Quotes to ponder:
"A margin of safety gives you room for error to be wrong."
"Entering numbers into a retirement calculator that are overly optimistic will produce a case of the old garbage in, garbage out."
"You also don’t want to assume an average life expectancy. After all, there’s at least a 50% chance that you’ll live past average."
Episode references:
Fidelity Retiree Health Care Cost Estimate: https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs
Stocks for the Long Run by Jeremy Siegel: https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514 Learn more about your ad choices. Visit megaphone.fm/adchoices
May 26, 2025 • 9min
3156: [Part 2] 5 Ways We Avoided Lifestyle Inflation to Reach Financial Freedom by Lisa Harrison of Mad Money Monster
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 3156:
Lisa Harrison shares how she and her husband sidestepped lifestyle inflation to build wealth and achieve financial freedom, without sacrificing joy or connection. Through mindful home buying, curbing consumer habits, and consistently increasing their savings rate, they created a life of intentionality and long-term fulfillment.
Read along with the original article(s) here: https://madmoneymonster.com/2021/03/22/5-ways-we-avoided-lifestyle-inflation-to-reach-financial-freedom/
Quotes to ponder:
"We didn’t buy more house than we needed, although I really wanted to, and we bought the crappiest house in a nice neighborhood."
"We will go without a want before we pay for anything with a credit card that can’t be immediately paid off at the end of the month."
"Investing extra money gives us a bigger rush than spending it."
Episode references:
401(k) and 403(b) plan basics - Investopedia: https://www.investopedia.com/terms/1/401kplan.asp
The Minimalists: https://www.theminimalists.com Learn more about your ad choices. Visit megaphone.fm/adchoices
May 25, 2025 • 9min
3155: [Part 1] 5 Ways We Avoided Lifestyle Inflation to Reach Financial Freedom by Lisa Harrison of Mad Money Monster
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 3155:
Lisa Harrison shares her personal journey from a youthful splurge on a flashy car to a values-driven commitment to living within her means. Through candid storytelling and practical advice, she highlights how avoiding lifestyle inflation, especially with car purchases, became a foundational strategy in her family's path to financial freedom.
Read along with the original article(s) here: https://madmoneymonster.com/2021/03/22/5-ways-we-avoided-lifestyle-inflation-to-reach-financial-freedom/
Quotes to ponder:
"After payments, insurance, maintenance, and gas, I was left with less than half of my take-home pay for everything else."
"What mattered most was how much money you saved."
"Despite our 2012 luxury SUV, my husband and I have driven reasonable cars for the entirety of our marriage." Learn more about your ad choices. Visit megaphone.fm/adchoices
May 25, 2025 • 9min
3154: Why I Won’t Give My Kids An Allowance 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 3154:
Andy Hill challenges the traditional notion of giving kids an allowance by linking money to effort through “Chore Money.” His approach teaches children real-world financial principles, like earning through value, saving early, and understanding limits, while also sparking entrepreneurial thinking from a young age.
Read along with the original article(s) here: https://marriagekidsandmoney.com/why-i-wont-give-my-kids-an-allowance
Quotes to ponder:
"You exist therefore you get money. That concept doesn’t work in the real world."
"If she helps with the chores, she gets paid. If she doesn't help, she doesn't get paid."
"When you’re a saver, you have options. You can more easily pursue your passions and live your life on your terms." Learn more about your ad choices. Visit megaphone.fm/adchoices
May 24, 2025 • 12min
3153: The Percentage Of People With No Wealth Outside Their Home Is Sad by Sam of 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 3153:
Sam from Financial Samurai sheds light on a growing financial vulnerability in America: nearly 30% of households have no investments beyond their primary residence. He explores how financial trauma, wage stagnation, and lack of education have led to under-diversification, urging readers to adopt a more balanced wealth-building strategy for true financial independence.
Read along with the original article(s) here: https://www.financialsamurai.com/percentage-wealth-outside-primary-residence/
Quotes to ponder:
"Roughly 30% of households have no 401k, no IRA, no after-tax investment account, no private equity investments, no venture debt investments, no nothing beyond the value of their primary residence!"
"When you’re catching your breath, you’re not looking to aggressively invest in growth stocks and other assets."
"Don’t be like most people with no wealth outside their home. Diversify your investments!"
Episode references:
Reverse Mortgage Information - Consumer Financial Protection Bureau: https://www.consumerfinance.gov/ask-cfpb/what-is-a-reverse-mortgage-en-224/ Learn more about your ad choices. Visit megaphone.fm/adchoices
May 23, 2025 • 12min
3152: How Can You Afford to Travel the World? by Paula Pant of Afford Anything on Money Lessons
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 3152:
Paula Pant shares how long-term, global travel can be surprisingly attainable, not just for the wealthy, but for anyone willing to rethink their financial priorities. By breaking down the cost of international living and comparing it to typical expenses back home, she reveals how travel can actually be more affordable than staying put.
Read along with the original article(s) here: https://affordanything.com/how-can-you-afford-to-travel-the-world/
Quotes to ponder:
"You don’t need to be rich to travel the world. You just need to spend in alignment with your values."
"The cost of travel is often less than the cost of staying in one place."
"When you travel long-term, you avoid the biggest costs: round-trip airfare and short-term lodging."
Episode references:
Lonely Planet Travel Guides: https://www.lonelyplanet.com
Numbeo Cost of Living Comparison: https://www.numbeo.com/cost-of-living/
The 4-Hour Workweek: https://www.amazon.com/4-Hour-Workweek-Escape-Live-Anywhere/dp/0307465357 Learn more about your ad choices. Visit megaphone.fm/adchoices
May 22, 2025 • 11min
3151: The Time Value of Money (or why 25 years of cable TV doesn't cost as much as you think) by Stephen Popick with GRS
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 3151:
Stephen Popick unpacks the often-misunderstood concept of the time value of money, showing why recurring expenses like cable TV aren’t as costly in today’s dollars as they appear over decades. By factoring in inflation, investment returns, and personal opportunity costs, he makes a compelling case for thoughtful financial planning that balances present needs with future goals.
Read along with the original article(s) here: https://www.getrichslowly.org/the-time-value-of-money-or-why-25-years-of-cable-tv-doesnt-cost-as-much-as-you-think/
Quotes to ponder:
"The time value of money is a complex term for a simple concept: Any given amount of money is worth more today than the same amount in the future."
"Your personal time value of money is very tough to measure on a personal level."
"Would I rather have $30,000 today or cable television for the next 25 years? There’s no one right answer."
Episode references:
Good Debt, Bad Debt: https://www.amazon.com/Good-Debt-Bad-Invest-Smarter/dp/1591840260
The Automatic Millionaire: https://www.amazon.com/Automatic-Millionaire-Powerful-Immediately/dp/0767923820 Learn more about your ad choices. Visit megaphone.fm/adchoices
