Financial Independence Podcast

Saving up a bunch of money gives you power - power you can use to make your life better and your journey to financial independence quicker.

The only way to take advantage of the power though is to use it.

Full Article:

https://www.madfientist.com/power-of-quitting/

If you want to use money to make you happier, stop thinking about what you can buy with it.

Instead, think about how you can use it to remove the things in your life that make you unhappy.

Full Article: 

https://www.madfientist.com/happiness-through-subtraction/

Out of all the episodes of the Financial Independence Podcast, this is the one I wish I heard when I was on my journey to financial independence.

Bill Perkins, author of Die with Zero, joins Chris Hutchins on the All the Hacks podcast to discuss what money is really for – maximizing net fulfillment.

This interview is incredible, so I reached out to Chris to ask if I could share it with you all, and thankfully he agreed!

Highlights

• Why you should maximize for net fulfillment rather than net worth
• When is the best time to allocate money to get the most fulfillment
• Why you should time bucket your experiences instead of having a bucket list
• How to break out of earning-saving-investing autopilot
• Why you should fear wasting your life more than running out of money

To celebrate the release of JL Collins' new book, Pathfinders, I collected all the best advice from his Financial Independence Podcast interviews!   Jim has been on the show three times:  

• First, back in 2012 (he was my second guest ever!)
• Second, when his hit book, The Simple Path to Wealth, was released
• Third, during the depths of the Coronavirus crash

  That last interview may be my proudest moment as the Mad Fientist (I explain why during the show).   Hope you enjoy this jam-packed episode!

Highlights

• The power of FU Money and why it may be less money than you think
• Jim’s biggest investing mistake and what he learned from it
• Why index investing is superior to active investing
• Are REITs and international funds necessary
• Why your house may not be a good investment
• Thoughts on stock picking and actively-managed funds
• What makes Vanguard unique and why it’s best for investors
• The three keys to becoming wealthy
• Lessons learned from Black Monday
• How to prepare for the next market crash

Health is similar to finances in that there are many overly-complex things people say you need to do, but there are just a few simple things that actually matter.

What is the "spend less than you earn, invest in a diversified/low-fee portfolio, and leave it to grow/compound" of the health world?

That's what today's episode is about!

Parker Hewes wrote a book called Lifelong Youth: The Simple Path to a Long and Youthful Life, and today he shares the eight health behaviors that will do the most for your longterm health and wellbeing!

On today’s episode of the Financial Independence Podcast, I welcome back Chad Carson from CoachCarson.com!

Chad just released a new book, The Small and Mighty Real Estate Investor, and I wanted to get him back on the show to talk about it.

I’m not a real-estate investor myself though. So rather than interview him myself, my real-estate-investor friend, Jillian Johnsrud, did the interview for me!

You may know Jillian from Montana Money Adventures, or her new podcast – Retire Often.

She did a fantastic job, so I hope you enjoy their conversation as much as I did!

On today’s episode of the Financial Independence Podcast, I welcome back Ramit Sethi from I Will Teach You to Be Rich!

I needed someone to come on the show to provide some tough love and Ramit was the only person for the job.

As Ramit mentioned during our last interview, FIRE people are great at knowing what NOT to spend on but we’re not good at knowing what to spend on.

Spending is going to be a big focus on the Mad Fientist this year and I can’t think of a better way to kick off this discussion than by getting yelled at by Ramit so hope you enjoy it!

Highlights

• Why we doubled our annual spending (and was it worth it)
• What Ramit did to make me get all clammy and uncomfortable
• Why pay less when you can pay more
• How to imagine your own rich life
• Why you should start wasting some money at a certain point

Over the last few years, I interviewed members of my family to find out two things:

1. How I became the Mad Fientist (i.e. where did I get my extreme ideas about money)
2. What advice they'd give to parents hoping to raise money-smart children

This is a short but sweet holiday episode to end the year and I hope you enjoy it!

Cody Berman and Justin Taylor, hosts of the FI Show, have both achieved financial independence but they've taken drastically different paths to get there.

Listen to this Podcast Takeover episode to hear the similarities and differences between an employee's path to FI (Justin's) and an entrepreneur's journey to FIRE (Cody's)!

Highlights

• Live-in flip vs. house hacking
• Sweet spot for buying used cars
• Why focusing on fixed expenses is important
• How to 5x your corporate income
• The unlimited upside of entrepreneurship
• How to get started investing if you're scared/nervous
• Nest-egging vs. cash-flowing your way to financial independence
• The benefits of a Solo-401(k) for entrepreneurs
• Why the corporate world is great for certain types of people
• Benefits and downsides of entrepreneurship
• Why it's important to not keep up with the FI Joneses either

Show Links

• The FI Show - https://thefishow.com
• The FI Show's Mega Backdoor Roth Episode - https://thefishow.com/mega-backdoor-roth-solo-401k-explained/
• The Mad Fientist's Mega Backdoor Roth Article - https://www.madfientist.com/after-tax-contributions/

 

Life has completely changed.

And because of this major change, I'm even more grateful for the freedom, flexibility, and time that financial independence and early retirement provide.

In this short episode, I fill you in on what's been happening and I discuss the reasons for my newfound appreciation of FI.