FI Minded - Financial Independence, Early Retirement & Lifestyle Design

Today’s episode is an exciting conversation with Chris Sparks, a retired professional poker player although I think he uses the term retired fairly loosely. I’ll settle somewhere in the middle and call him a well-paid hobbyist.

Chris has played over 2 million hands of poker across thousands of tournaments including main events tournaments like World Series of Poker, World Poker Tour, and the European, Asian-Pacific, and Latin American Poker Tour.

During his hay days, he had a fast and furious climb that eventually led him to being ranked in the top 20 online cash game players in the world.

In our conversation, Chris shares stories about his growth as a poker player. He’ll also teach us the meta-skills of high stakes poker that can be extrapolated and applied to our own life.

By listening to this episode, you’ll learn how to recognize a good bet, how to take action with incomplete information, and the benefits of focusing on the process versus being results-oriented.

If you’re a listener of the show and haven’t left us a rating and review, we’d really appreciate it if you did. And if you’re new, welcome, sit back, relax, and let’s learn something new.

I hope you enjoy my conversation with the man who started playing poker in college for fun but eventually used it to pay for his tuition…Chris Sparks.

Key Takeaways:

• Why Chris tried standup comedy

Mentions:

Expected Value Calculator: www.forcingfunction.com/evc

Play to Win Article: https://www.forcingfunction.com/articles/play-to-win

Experiment Without Limits Workbook: https://www.forcingfunction.com/workbook

Performance Assessment: https://www.forcingfunction.com/assessment

Team Performance Training: https://www.forcingfunction.com/team-training

More of Chris:

www.forcingfunction.com

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

I did not know how beneficial fiber was prior to this conversation and I wouldn’t even have been able to tell you fiber was only found in plants.

I’m excited about this episode though. I had a blast researching and preparing for this conversation.

It has been a while since I’ve dug deep into a health-focused subject. Our last was with Dr. Jennifer Reid in August when we talked about sleep, and looking at the numbers, I know you are interested in health topics.

Joining me today on the podcast today are the Co-Founders of Florasophy, an organic soluble fiber supplement.

Megan Barnett and Lee Carson created this company after Megan stumbled across the incredible benefits of soluble fiber and began using it in her functional medicine clinic.

Megan and Lee both believe in a science-based approach to alleviating health issues and focusing on preventive health in order to stay out of the medical system.

Getting adequate daily fiber, particularly soluble fiber, is an easy step someone can take.

If you want to know all the benefits of fiber and what foods you can eat to get to a suitable level, you’re in the right place. We’ll be discussing that plus other health related topics like Megan’s opinion on intermittent fasting and an explanation on what the heck microbiome is.

Key Takeaways:

• How Lee’s experience with her mom motivated her to stay out of the western medical system and focus on preventive health

Mentions:

Karen Hurd (The Bean Queen)

More of Megan and Lee:

https://thinkflorasophy.com/ (discount code is TheStruggleIsReal20)

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

If you’re paying attention to your portfolio right now, you know the stock market has been on a nosedive, and if you’re anything like me, this market drop has you feeling discouraged.

I continue doing all the right things. I maxed out my IRA, I’m dollar cost averaging through my 401K, and even investing my net earnings in my brokerage account.

All of this yet I’m still seeing my networth go backwards. I’m beginning to question if investing my money is still the right thing to do.

Well luckily my friend Jesse Cramer is here to talk me off the ledge. It could be investing for your future or changing your career path to align with your passion. Jesse reminded me that the right choice doesn't always create short-term success but over the long-run, it will.

Aside from being my personal therapist, Jesse has had a ton of success in creating his personal finance blog, The Best Interest. His writing has also been featured in CNBC, MSN, the Motley Fool, Yahoo Finance, and more.

Jesse started The Best Interest blog in 2018 when he was working as an engineer but over the last year, realizing how much passion he had for personal finance, he made a career pivot and now works for a wealth management firm.

If you are considering changing careers to align more with your passion, this will be a great episode to listen to. Jesse shares his thought process behind his decision even though it meant taking a pay cut (for now).

We get into a lot of money conversation as well including the financial order of operations, investing in the market vs investing in yourself, and a useful thought process called the success to stress ratio. From my “lost and confused” to my senior investors, this episode has something for everyone.

Key Takeaways:

- How Jesse went from being lost with finances to a personal finance blogger

- Why Jesse took a pay cut to switch careers

- Why making the right choice now will lead to success in the long-run even if in the short-term it doesn’t pay off

- Using the financial order of operation to get started investing

- Should I invest or pay off debt first? What about investing in a business?

- How to get started budgeting

- Success to stress ratio

- What Dave Ramsey got right about credit cards (absolute rules)

- Merging money with your significant other

Mentions:

Joel O’Leary on TSIR (Apple Podcasts or Spotify)

Darren Chait on TSIR (Apple Podcasts or Spotify)

More of Jesse:

Blog: https://bestinterest.blog/

Twitter: @BestInterest_JC

Money Mastermind: 30 Authors, 100+ Topics, One Essential Personal Finance Book

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

The amazing Brian Bogert is joining me on the podcast today.

At 7 years old, his life transformed in a blink of an eye after he was in a vehicle accident that his left arm was detached. Instead of dwelling in the suffering, he fully recovered with a reattached arm thanks to his persistent and proactive focus.

Today, Brian is a lot of things: entrepreneur, coach, speaker, business strategist, author, and philanthropist. But he would say his two most important titles are husband and father.

It took chasing traditional success for him to realize this though. At 27, Brian had it all on paper after he helped grow a risk management firm from $250,000 to over $15,000,000.

He had an abundance of money, a nice house, and a cool car but after being absent from the first 6 months of his baby’s life, he put an end to chasing traditional success. He stopped the era of “what” to begin the era of “who.” The people in his life now became his focus.

You’ll have many takeaways from this episode including understanding the critical questions in your life, how to focus less on what and more on who, and how to embrace pain to avoid suffering.

We also get into a really interesting discussion about anger near the end of the conversation.

Key Takeaways:

- Be where your feet are. Developing awareness and intentionality.

- Giving feedback and hearing their questions

- Brian’s life transforming truck accident and how that shaped him moving forward

- Dealing with anger

Mentions:

www.Nolimitsprelude.com

More of Brian:

https://brianbogert.com/

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

As much as I’d want to work on The Struggle is Real full-time, I do have a day job.

I could gripe about my 9-5 but I actually really enjoy my job at MMA. I like who I work with, who I work for, and what I work on. It also creates really cool opportunities like the one you’re going to hear today.

A colleague who leads an internal learning and development initiative called MMATalks asked if I wanted to present at their monthly webinar series. MMATalks sits at the crossroads of personal development, professional skills, and DE&I awareness.

Of course, I was in, and at first, I figured I’d cover a professional skill like networking or email management but instead, I decided to merge my two lives together and do what I do best, host a conversation.

I asked two former podcast guests to join me, Ahmad Jabbir (E61) and Nate Dukes (E41). I was grateful they said yes. Our goal for this talk was to illustrate Ahmad and Nate’s life experiences that lead to judgment from others (and themselves) and how they built back confidence.

You’ll hear about how childhood teasing led to Ahmad’s struggle with confidence, how Nate found himself in a Tennessee jail after a string of bad decisions, and how they both overcame external judgment and turned their lives around.

Show Notes:

[5:55] Why Ahmad wanted to meet 100 strangers

[9:49] Saying yes

[15:21] From successful business owner to handcuffed in the back of a cop car

[25:02] Breaking the thought that he was stupid by reading 100 books 

[28:03] Two types of people you need in your life

[31:56] Strangers are kinder than I thought

[37:35] Walgreens encounter

[41:12] How you don’t let external judgment affect you

[44:06] Why it isn’t worth revisiting your haters

Mentions:

Listen to Ahmad Jabbir on The Struggle is Real:

• Spotify: https://open.spotify.com/episode/6b70qMksxQucIforKcPu7R

Listen to Nate Dukes on The Struggle is Real:

• Spotify: https://open.spotify.com/episode/2F1MOGXYJb3svZyW8uX3qT

Ahmad Jabbir’s TedTalk: https://www.youtube.com/watch?v=xHw30Rdplaw&t=366s

More of Ahmad:

LinkedIn: https://www.linkedin.com/in/ahmadjabbir/

More of Nate:

www.YoullNeverChange.com

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

I did not anticipate one of the biggest struggles in my 20s would be making friends. It was so easy in high school and college when I was surrounded by people.

Although I have been lonely at times, I rarely spoke about it. I guess I had shame around feeling lonely but that line of thinking is changing for me.

It initially started when I was preparing for episode 49 with Michael Bauman where we discussed loneliness. That opened up my eyes to the fact that more people are lonely than I thought.

Then when preparing for this episode, Jewel Hohman, today’s guest, shared a New York Post article with me that surfaced many surprising findings including survey results from adults affirming that 45% of them find it difficult to make a new friend. It also mentioned confidence in making friends peaked at the age of 23.

Survey results aside, when talking to others, I found I am not alone. Many adults find it hard to make friends. I’m excited to finally tackle this topic on The Struggle is Real.

Jewel Hohman is a friendship expert. Through her work, she helps people stop overthinking their relationships and feel confident being themselves so that they can create the deep friendships they have been craving.

In this episode, we discuss 3 things every friendship needs, where to meet new people, and how to stop being awkward in conversation. I hope a blend of practical advice and emotional reassurance motivates you to get out there and give making friends another try.

If you like this episode, share it with a friend, leave a rating and review, and if you don’t want to miss the next episode, hit the follow button.

Show Notes:

[1:57] Why is making friends harder as we get older?

[6:03] How Jewel struggled making friends

[11:17] Same sex friendship

[20:31] Avoiding awkwardness and overcoming your shyness when talking to someone

[26:02] The problem with judging other people

[27:45] Your thoughts are not facts

[32:03] 3 things every friendship needs

Mentions:

The Damaging Consequences of Loneliness and What You Can Do About It l E49 Michael Bauman on Spotify or Apple Podcasts

Why the average American hasn’t made a new friend in 5 years (New York Post)

More of Jewel:

Instagram

Website

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

I feel like I always gravitate towards stories about taking a chance. Ahmad Jabbir’s story about how he went above and beyond during his job interview comes to mind.

I really enjoy them and these stories provide a much needed reminder. As I get older, I feel like I’m making more conservative choices. If that is true or not, objectively I’m not sure I could say. I think it is important to try things that might include risk, assuming it has positive upside and you’ve considered how you can minimize the negative.

I invited my friend Mason Burchette back on the podcast. He first appeared on The Struggles is Real on episode 30 where we discussed some of his best advice from his book, How to Make Sure You Never Get Promoted: An Antithetical Guide to Succeeding in Your Career.

Aside from wanting an excuse to catch up, I invited Mason back on the show because he’s made a life changing decision. He left his role as a Director of Marketing and Development to start his own business.

Knowing Mason has a similar risk tolerance as me, I wanted to understand how he came to this decision. We also talk about legacy, business principles, and why Chick-fil-A isn’t a chicken company but actually a leadership development academy.

Show Notes:

[2:31] Going from employee to entrepreneur

[5:55] Building a legacy for future generations

[8:44] Evaluating risk on the value you can gain, not what you can lose

[12:43] Why Chick-fil-A isn’t a chicken company but actually a leadership development academy

[16:09] How to leave your job gracefully

[21:53] How to avoid living paycheck to paycheck by delaying gratification

[39:43] Balance business with family

Mentions:

26 Year Old Director Shares Advice on How to Quickly Rise Through the Ranks I E30 - Mason Burchette (Apple Podcasts or Spotify)

How to Make Sure You Never Get Promoted: An Antithetical Guide To Succeeding in Your Career by Mason Burchette

How to Always Live Paycheck to Paycheck: An Antithetical Guide to Fixing Your Finances

Financial Peace for the Next Generation by Dave Ramsey

The Richest Man In Babylon by George S. Clason

More of Mason:

The Crush It Team website

Mason Burchette's personal website

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

Going into college, Grace was pre-med and planning on becoming a doctor. She found out through taking classes and trying internships, that this wasn’t the right path for her. Instead, her twisted journey led her to therapy.

Although this wasn’t her plan going into college, Grace shares that looking back now, she’s really appreciated the unclear route. What’s the fun in having an obvious and predictable plan? But I get it, no one likes feeling lost either.

Now as a therapist, Grace supports her clients as they navigate their own ups and downs of life.

She has transitioned from solo therapist to building her practice, Grace Therapy & Wellness, and if you are a Texas resident, I recommend checking her out.

By listening to this episode, you’ll learn how to use value cards to uncover what’s important to you, how to listen to your nervous system, and what happens when you ask better questions.

Show Notes:

[2:23] Developing communication skills as a therapist

[9:58] Grace’s story to finding therapy

[19:11] What’s it like being in your 30s

[25:18] Life transitions and finding your path in your 20s

[28:24] Using value cards to uncover what’s important to you

[38:25] Polyvagal theory and the nervous system

Mentions:

Larry Hagner (E56) on The Struggle is Real - Apple Podcasts or Spotify

More of Grace:

www.GraceTherapyAustin.com

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

Rose Lounsbury is a simplicity coach, speaker, and author of the book, Less: Minimalism, For Real.

Rose’s minimalist journey started with being an overwhelmed mom, and I really mean overwhelmed. She is the mom of triplets.

She’d come home from work, start her second shift of being a mom, and finally get her 3 2-year-olds to bed just in time to spend her last waking hour cleaning up the mess from the day. Rose was tired of this but didn’t know what to do until a friend mentioned minimalism.

She immediately resonated with the lifestyle and spent the next year purging 70% of her possessions.  Rose found this lifestyle so impactful that she began applying simplification into other areas of her life such as money and her career.

Now, Rose helps overwhelmed people create open spaces in their homes, workspaces, and most importantly, their minds, by letting go of the excess stuff that gets in the way.

We talked extensively about how the concept of simplifying can be applied to different areas of your life. We also start the conversation discussing overachievement and the negative impact associated with defining yourself by how much you have gotten done.

Show Notes:

[2:23] Betting a haircut on a accomplishing a goal

[9:33] Rose’s struggle with overachievement and what she did about it

[24:14] How triplets lead to home organizing

[30:26] Getting exposed to minimalism 

[33:01] Rose’s hardest step: letting go of her teaching supplies

[42:03] Minimalism vs simplicity

[47:17] How using a budget simplified her finances

Mentions:

E33 - Lucy Milligan Wahl

More of Rose:

Less: Minimalism, For Real by Rose Lounsbury

Website

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

There is nothing better than waking up in the morning feeling refreshed and energized. I love a good night’s sleep. On the flip side, if I didn’t get enough quality sleep, I might as well just take the L and call it a personal day.

As soon as I learned this about myself, I became attune to good sleep habits. I have no idea how I survived through college with an inconsistent sleep schedule, late night drinking, and early morning call times. I never looked at sleep as a critical aspect of my health like I did exercise and food.

If you take your sleep seriously like me, or are interested in improving in this area of health, you are going to love this conversation today.

Dr. Jennifer Reid is a board-certified psychiatrist who focuses on insomnia and anxiety. She is also an award-winning medical educator, regular contributor to Psychology Today with her blog, Think Like a Shrink, and the Host of the podcast, The Reflective Doc.

Jennifer really impressed me with her extensive knowledge of sleep. We cover a ton of great topics including marijuana and sleep, social jetlag, and her thoughts on sleep tracking wearables. 

We also conclude the episode discussing anxiety. Dr. Reid gives really great actionable advice on reframing “what if” claims to “if then” statements.

Show Notes:

[2:08] Data around cannabis and what Jennifer learned

[9:50] Why is sleep important

[16:49] Chronotypes and how sleep shifts throughout your life

[22:14] Social jetlag

[25:04] Sleep hygiene tips and alcohol use

[30:16] Caffeine and sleep drive

[34:44] Managing jet lag when traveling

[36:39] Jennifer’s thoughts on wearables

[40:19] The Anxious Mind and changing what if to if then

Mentions:

The Growth Mindset by Carol Dweck

More of Jennifer: 

Website

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/