Mark's Money Mind

In this episode Mark broadcasts from the cruise ship Silver Nova off the coast of Australia. 

Mark addresses the critical steps to take if you or someone you know is laid off. Topics include understanding severance packages, health insurance options like COBRA, applying for unemployment benefits, managing emergency funds, consolidating retirement accounts, and reassessing financial priorities. 

Mark emphasizes focusing on controllable aspects and maintaining a positive outlook during such transitional periods.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

Timestamps:

This episode takes place at the FI Freedom Retreat in Bali, Indonesia. Speakers Alan & Katie Donegan and Rachel Richards (Money Honey Rachel) share insights aligning personal identity with life vision. 

Discussions include the impact of self-perception on achieving goals, the benefits of financial freedom during life's challenges, and practical exercises to align one's identity with desired life outcomes. 

The episode encourages listeners to explore their identity, envision their ideal futures, and seek personal growth for a fulfilling financially independent life.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

FI Freedom Retreat

EconoMe Conference Presentation - Alan & Katie Donegan

Lifestyle Design - Rebel Donegans

Vision Guide PDFs

Rebel Finance School 2024 - Full Playlist

Money Honey Rachel - Passive Income Starter Kit

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In this week's episode Mark broadcasts from Bali, Indonesia, sharing his travel experiences and providing a comprehensive guide on organizing international trips both financially and logistically. 

He discusses using platforms like Booking.com for lodgings, redeeming points for flights and accommodations, and the benefits of eSIMs for cell phone usage. Mark also covers the importance of VPNs, Apple Pay for secure transactions, forwarding calls to Google Voice, and effective methods to manage jet lag using the Timeshifter app. 

Whether you're planning a trip to Indonesia or any international destination, Mark's insights on travel tips and financial strategies offer valuable advice for a seamless journey.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

Booking.com for accommodations

Timeshifter App for reducing jet lag

Airalo for eSIMs

Google Voice for call forwarding

WhatsApp for texting

Grab and GoJek for transportation and delivery

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In this episode Mark broadcasts one last time from Crested Butte, Colorado, before embarking on a two-month journey to Bali, Singapore, Australia, and New Zealand. This episode focuses on essential aspects of estate planning, such as the importance of wills, powers of attorney, healthcare directives and possibly a trust. 

Mark shares personal experiences, including updating his estate plan after significant life events, and offers valuable insights into managing estates and guardianship. Real-life examples highlight the severe consequences of inadequate estate planning. 

Additionally, Mark answers a listener question regarding calculating savings rates.

Episode Links:

Mark’s Money Mind YouTube Channel

Love, Loss, and Money: The Shocking Financial Aftermath of a FI Spouse’s Death | Amy (ChooseFI Episode 476)

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In this episode of Mark dives into the ‘Fun Bucket' strategy with Kevin Sebesta, exploring how retirees can transition from a saving to a spending mindset. Originally discussed on the Forget About Money podcast hosted by David Baughier, the concept involves allocating funds specifically for enjoyable activities to facilitate guilt-free spending. 

The episode covers practical steps to implement the Fun Bucket, balancing financial security with personal enjoyment, and the long-term benefits of investing in experiences that create lasting memories. Discussions include managing retirement assets, planning for different life stages, and navigating generational wealth. 

Listeners receive valuable insights on overcoming the psychological barriers of spending and making the most of their retirement years.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

Forget About Money YouTube Channel

Life In Fire blog

The Fun Bucket - Overcoming the Frugality Mindset

Timestamps:

In this episode Mark responds to a listener's email about how to teach financial literacy to high school students and children. Mark emphasizes the importance of simplifying finance concepts, highlighting his motto: 'Make Some, Save and Invest, Live on the Rest.' 

He recounts personal stories to illustrate industriousness, saving, investing, and conscious spending as vital components of financial freedom. He also encourages involving children in financial conversations and shares recommended reading for financial literacy.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

Financial Literacy Course

The Wonder of Compounding | Episode 011

WSJ article “Changing Jobs Can Put a $300,000 Dent in Retirement Savings” 10/7/24

I Will Teach You to be Rich - by Ramit Sethi

The Simple Path to Wealth - by JL Collins

Raising Your Money-Savvy Family for Next Generation Financial Independence - by Carol Pittner and Doug Nordman

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In this episode, Mark and special guest Kevin Sebesta discuss retirement planning strategies after attending a Rock Retirement Club event in Grapevine, Texas. 

The discussion emphasizes the concept of secure retirement income as an alternative to the 4% rule commonly discussed in the FI/RE (Financial Independence/Retire Early) community. 

Key topics include the importance of secure income sources like social security, pensions, and annuities to cover essential retirement costs, the nuances between different retirement strategies such as total return portfolios and guardrails, and the personal decision-making process around when to claim social security. 

The episode also highlights the importance of flexibility and adapting financial plans as personal circumstances and preferences change over time.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

Life in FIRE

Rock Retirement Club

The Retirement and IRA Show

Forget About Money - Fun Bucket episode with Mark & Kevin

Social Security website

Immediate Annuities - Advanced Annuity Calculator

Timestamps:

In this episode Mark delves into the recent decision by the Federal Reserve to lower interest rates by 50 basis points. Mark discusses the broader implications these changes could have on the economy, inflation, and various interest rates. 

From the complexities of the yield curve to what it means for savings accounts and mortgage rates, Mark offers a comprehensive breakdown to help listeners understand these financial dynamics. 

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

The Federal Reserve Explained - Monetary Policy

US Treasury Yield Curve Graph

Understanding the Yield Curve - Charles Schwab

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Mark hosts this week’s episode from Crested Butte, Colorado, discussing his recent travels, moving preparations, and the intricacies of tax planning. 

After a brief hiatus due to a European trip, Mark shares personal stories and financial wisdom, touching on the importance of annual tax planning, the complexities of selling a home, and strategies to optimize tax deductions and avoiding estimated tax penalties. 

He also offers a glimpse into his upcoming travels and the potential impact on future episode releases.

If you would like your question answered on the show, please send an email to [email protected] and put “podcast question” in the subject line.

Episode Links:

Mark’s Money Mind YouTube Channel

The Big Purge - Episode 026

IRS Publication 505 - Tax Withholding and Estimated Tax

IRS Publication 523 - Selling Your Home

IRS Form 2210 - Underpayment of Estimated Tax

Fun Buckets & Donor Advised Funds - Episode 019

DinkyTown Tax Calculator

Finding Your Tribe - Episode 005

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In this unique episode Mark records from a cruise ship while reflecting on his memorable experiences from his trip to Santorini 38 years ago and again today.

He shares the concept of 'memory dividends,' how revisiting significant moments can create compounded joy, and how his daughter and friends are now part of these treasured memories. Mark also recounts some humorous and thrilling anecdotes from his original trip. 

He also shares clever money-related joke to emphasize creative financial thinking. Tune in to explore the idea of investing in experiences for lasting happiness.

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