In this episode: building a giving framework, the giving pledge, compound impact, donor advised funds, and different ways to give.

Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the life of others. While navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! There are many resources available that can help calculate what you can give while remaining on the FI track, as well as help you see how your donations are making a difference!

• Yield and Spread: yieldandspread.org
• Rebecca's Coaching Program: Coaching for do-gooders
• 1 For The World: 1fortheworld.org
• Jack's LinkedIn: Jack Lewars

• 1:37 – Introduction
• 4:24 – The Giving Pledge
• 11:59 – Building A Framework And Effective Giving
• 23:20 – Should You Get To FI Before You Give?
• 33:12 – Compound Impact
• 39:48 – Feedback From Giving And Fun Funds
• 51:08 – Different Ways To Give
• 61:09 – Donating Appreciated Stocks
• 66:59 – Conclusion

• Join Your Local ChooseFI Group
• "The Life You Can Save: How to do your part to end world poverty" by Peter Singer
• School of Hard Knocks
• "Practical Ethics" by Peter Singer
• GiveWell
• The Life You Can Save
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• Yield & Spread's DAF Series
• "Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back" by William MacAskill
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: salesforce, lifestyle design, testimonials and verification, the hidden job market, and talentstacking.

Once again joined by friend of the show Bradley Rice, the owner and creator of TalentStacker, to update us on the value of SalesForce and career pivoting in 2024. While on the FI journey, you are actively creating the life you want to live. For many that means transitioning out of their life-long careers and opting for ones that offer something different and more accustomed to the life you're creating. Learning a new skill or starting a side hustle can be the first step to finding that new career, and finding a program that works for you should offer more than just a certification, but assist you in finding new opportunities and a community that supports you!

• Website: talentstacker.com
• Facebook: Salesforce for Everyone
• Salesforce 5 Day Challenge: Take the FREE 5-Day Challenge
• Podcast: Salesforce for Everyone

• 1:38 – Introduction
• 4:17 – Work, Lifestyle Design, and Talentstacking
• 10:15 – Testimonials, Doing Your Research, and Verification
• 14:55 – The Hidden Job Market
• 19:36 – Entering a Salesforce Career with Talentstacker
• 26:39 – Salesforce Security
• 32:25 – Conclusion

• The Hidden Job Market | ChooseFI Ep 379
• CampFI
• Making The Case For Part Time With Bradley Rice | ChooseFI Ep 117
• Trailhead
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: caregiving and FI, retirement planning, reverse mortgages, long-term care, and long-term care insurance.

This week we are joined by Danielle Miura to discuss how her experience as a caregiver has impacted her FI mindset, as well as answer listener questions pertaining to planning for your own long-term care while on the path to FI. As you and your loved ones get older, it's important to start considering what additional finances they may require. From long-term healthcare to assisted living, there are many factors that not only impact their life financially, but could impact you and your FI plans. While it may be uncomfortable to have conversations with loved ones about their finances and expenses, it is imperative to have these discussions early and create a plan that works for you and your family.

• Website: spark-fin.com
• LinkedIn: Danielle Miura
• Twitter: @Daniellemiula

• 1:19 – Introduction
• 2:22 – Caregiving and FI
• 7:28 – Dealing With Poor Retirement Planning
• 15:38 – Reverse Mortgages and Viability of Selling The Home
• 21:41 – Having The Uncomfortable Conversation
• 24:40 – Planning For Your Final Years
• 32:41 – Long-Term Care and FI
• 36:10 – Long Term Care Insurance
• 45:30 – Conclusion

• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: optimized exercise, recovering, machine use, increasing your healthspan, and long-term thinking.

This week we are joined by Brad's friend and personal trainer, Dean Turner, to discuss the changing landscape of strength training, and how principles such as consistency and adherence coupled with rest and recovery can also be applied to both your fitness and FI journey. We often talk about how the path to FI is not just about working towards a monetary goal, but rather creating a better life for yourself. For some this can mean taking a personal account of your health, and taking actionable steps to improve it. Just as making financial changes requires consistency, making physical changes requires the same. While these changes don't happen overnight, these actions continuously build off of one another and make you stronger!

Dean Turner:

• Twitter: @DeanTTraining
• Website: deanturnertraining.com

Timestamps:

• 2:30 - Introduction
• 3:41 - Optimized Exercise
• 9:13 - Recovering and Machine Use
• 20:51 - Increasing Your Healthspan
• 27:44 - Long-Term Thinking
• 29:48 - Conclusion

• Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419
• The New Science of Muscle
• James Clear, Atomic Habits — Simple Strategies for Building (and Breaking) Habits, Questions for Personal Mastery and Growth, Tactics for Writing and Launching a Mega-Bestseller, Finding Leverage, and More (#648)
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life.

This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it's also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.

Mile High FI:

• Podcast: milehighfi.com
• Newsletter: Join the Mile High FI Club

Timestamps:

• 1:13 - Introduction
• 2:41 - Analyzing Finances In Your 20s
• 9:31 - Compounding Power
• 13:25 - The Boring Middle
• 21:01 - FI Role Models
• 26:41 - Building A Life On The Journey
• 35:01 - Fat FI
• 45:37 - Saving Versus Life Enhancement
• 54:21 - FI Checkpoints
• 57:52 - Conclusion

Resources Mentioned In Today's Episode:

• The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472
• Mr Money Mustache
• JL Collins
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett
• Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451
• The Stages and Checkpoints of FI | ChooseFI Ep 324
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: buy and hold, macroeconomics, interest rates, bond investing, when to sell, mindset, and thinking differently.

This week we are joined once again by friend of the show Brian Feroldi to discuss the stock market and investing as we head into 2024. As most of you know by now, keeping your head down and staying the course is a pretty typical investing strategy in the FI community, but it is important to remember personal finance is personal. Depending on your situation, life may require you to mold that strategy into something else as your mindset and seasons of life change! Make sure your are not only optimizing your financial situation, but also your life in the process!

Brian Feroldi:

• Website: stockinvesting.school
• Website: longtermmindset.co
• Twitter: @BrianFeroldi
• LinkedIn: Brian Feroldi

Timestamps:

• 0:33 - Introduction
• 3:42 - Buy and Hold
• 8:36 - "Macroeconomics"
• 15:17 - The Impact of Interest Rates/ Bond Investing
• 20:36 - High Yield Savings Accounts
• 27:18 - 2024 Investing
• 33:19 - When to Sell
• 38:05 - The Evolution of Your Mindset
• 43:40 - Thinking Differently
• 47:52 - VTSAX
• 51:21 - Conclusion

Resources Mentioned In Today's Episode:

• The Motley Fool
• "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert Kiyosaki
• The Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194
• Risk Parity Radio
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails.

Ginger joins the podcast this week for a special "Hot Seat" episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it's incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn't about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.

• 1:45 – Introduction
• 2:29 – Ashley and Atomic Habits
• 10:17 – Tyler and Opportunity Cost
• 19:09 – Amanda and Mental Wellbeing
• 25:17 – Caesar and PSLF Forgiveness
• 30:56 – Aaron, House Hacking, and DIY
• 37:17 – Ginger Takes The Hot Seat
• 59:33 – Brad Takes The Hot Seat
• 76:19 – Conclusion

• "Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones" by James Clear
• Atomic Habits | James Clear | ChooseFI Ep 157
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• "Just Keep Buying: Proven ways to save money and build your wealth" by Nick Maggiulli
• BitWarden
• "The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative" by Florence Williams
• I Will Teach You To Be Rich
• Book your custom student loan plan
• "Never Split the Difference: Negotiating As If Your Life Depended On It" by Chris Voss and Tahl Raz
• "Flow: The Psychology of Optimal Experience" by Mihaly Csikszentmihalyi
• Risk Parity Radio
• "Why We Sleep: Unlocking the Power of Sleep and Dreams" by Matt Walker
• The Matt Walker Podcast
• Peter Attia
• Ginger's New Sheets
• My First Million Podcast
• Prof G Show
• Pivot Podcast
• Todoist
• Dean Turner Training
• Send Us A Voicemail
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate.

This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren't in place. While death can be an uncomfortable topic to think about, it's important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy's story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it's uncomfortable.

Timestamps:

• 1:23 - Introduction
• 2:45 - Amy's FI Journey
• 9:03 - Income Planning and FI
• 17:24 - What Follows Tragedy
• 28:33 - The Importance of Wills and Beneficiary Designation
• 36:23 - Preparing in Advance and Considering The Possibility
• 44:27 - Immediate Access and The Ancillary Things
• 48:15 - Probate
• 59:09 - Setting Up Your Estate
• 65:09 - Conclusion

Resources Mentioned In Today's Episode:

• The Shockingly Simple Math Behind Early Retirement
• Intestate Succession
• The Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI")
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55.

This week we are joined by the "FI Tax Guy" Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold.

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.

Sean Mullaney:

• Website: fitaxguy.com
• Website: Mullaney Financial and Tax
• Twitter: @SeanMoneyandTax
• YouTube: @SeanMullaneyVideos

FIRE in Vegas:

• Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City.

Timestamps:

• 0:47 - Introduction
• 3:39 - Taxable Accounts
• 19:03 - Inherited Retirement Accounts
• 25:30 - The Rule of 55
• 28:39 - 457B's
• 30:46 - Roth IRA Conversion Ladder
• 39:12 - The 72(T)
• 54:52 - Paying the Penalty
• 57:25 - Conclusion

Resources Mentioned In Today's Episode:

• Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471
• The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17R
• Roth IRA Conversion Ladder Case Study | ChooseFI Ep 163R
• Retire On 72(T) Payments
• 72(t) Payments in Google Sheets
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: social security, disability, calculating social security, claiming social security, and due diligence.

This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don't consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.

Denis Shapiro:

• Website: fsadvocates.com

Timestamps:

• 1:16 - Introduction
• 5:10 - What Pays for Social Security?
• 11:13 - Social Security and FI/Disability Insurance
• 17:30 - What Earnings Go Towards Social Security?
• 23:19 - Disability, Work Subsidies, and Income Related Work Expense
• 29:03 - How Social Security Benefits Are Calculated
• 37:05 - Claiming Social Security
• 39:59 - Social Security and Medicare
• 44:28 - Social Security and Due Diligence
• 56:27 - Working and Disability Benefits
• 59:59 - Conclusion

Resources Mentioned In Today's Episode:

• SSA.gov
• Social Security Fact Sheet
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)