Radical Personal Finance

As I celebrate the opening of the registration page for the beta launch of the new Radical Personal Finance Guide to Career & Income Planning, I intend to share with you a few simple lessons related to career and income.

Today, we begin with the philosophical fundamentals: the interplay of human capital and financial capital. We all start with what we have (human capital) and use it to create financial capital, which we ultimately work to have in surplus. Once we have surplus, we get to decide what to do with it.

Enjoy!

Joshua

• Try Hello Fresh to get awesome, pre-measured fresh ingredients delivered right to your front door! Save $30 off your subscription with code RPF30! www.hellofresh.com/rpf30
• If you're interested in joining the beta launch of my new Guide to Career and Income Planning, I've got 65 seats left. Registration closes either on 8/20 or when I sell out the seats, whichever comes first. More details here: www.radicalpersonalfinance.com/career

I've had a tough summer. I have nothing to complain about. I've been richly blessed and, in almost every way outside of Radical Personal Finance, life has been sweet. But, RPF hasn't been so great for me. And, if it hasn't been so great for me, it might not have been so great for you either.

I thought you might appreciate hearing the explanation and the story.

It's important to me to share the good and the bad--the heights and the lows--with you in order to help you understand that we all share common struggles and trials.

That said, I don't think it's helpful to talk about problems unless I can also suggest a solution. And, thankfully, I've worked out some solutions to my problems. So, now I'm ready to share the problems with you!

I've figured out what's wrong with Radical Personal Finance. And [I think] I've figured out how to fix it!

Here's the story...

Joshua

• The book I read from is called "Out of the Ashes: Rebuilding American Culture" by Anthony Esolen http://amzn.to/2v69tLh

On Fridays we do a live Q&A which is open to Patrons of the show. Become a Patron at www.RadicalPersonalFinance.com/patron

Today we cover:

• Can I Have Both a SIMPLE IRA and a Traditional IRA
• What Personal Finance Books Does Joshua Recommend
• What Three Investments Would I Buy To Leave Alone for a Decade
• What Are the Rules of Thumb for Who Should Buy Long-Term Care Insurance
• And more!

Joshua

On Fridays, I host a Q&A call. Patrons of the show are invited to call in and ask any question they want!

Today, we cover:

• (1:57) What's the best type of retirement plan for my wife's side business? (SEP IRA, SIMPLE IRA, Solo 401(k)?)
• (16:45) How can I help my sister-in-law who is asking me for financial advice?
• (30:20) Should I pay off my debt as fast as possible or save up and pay it off in large chunks of money?

Joshua

• Become a Patron of the show and gain access to future Q&A shows here: www.radicalpersonalfinance.com/patron

There's been an interesting switch in the world of personal finance wherein some people are building financial plans based on extremely low spending projections. In essence, some people assume that if they can live on an extremely low budget per year today, they can build a long-term financial plan predicated on maintaining that spending forever.

I think this is a dangerous assumption. And, in today's show, I explain why.

Joshua

• Earn up to 8.5% return on your money by financing solar energy projects with Wunder Capital. www.WunderCapital.com/radical

Welcome to another Friday Q&A Show! Today, we cover:

• Is It Legit That You Can Find Missing Money That's Still Unclaimed
• Should I Take Free Housing With a Longer Commute
• How Do I Deal With Massive Medical Bills
• Do I Need a Personal Insurance Agent
• What Three Books Would Joshua Take to A Desert Island?

If you'd like to join me for a future Q&A show, become a Patron of the show at www.radicalpersonalfinance.com/patron

Joshua

• Save $30 off a new subscription for awesome food at www.HelloFresh.com using coupon code: "RPF30" Give it a try!

Friday Q&A is back! Today:

• How does an LLC Protect My Liability and Help Me Save on Tax?
• How Can I Lower My Tax Bill on the Sale of My House?

If you'd like to participate on a future show, sign up here! www.radicalpersonalfinance.com/patron

Joshua

I've long struggled to know how to advise people with regard to debt. On the one hand, the use of debt can dramatically increase the financial returns of an investment. On the other hand, debt can have a dramatic negative impact on the lifestyle of the borrower when everything goes wrong.

So, how do we reconcile these two things?

I've come to see that they're two entirely different scales. Because they are two totally different scales (think: how do kilograms and degrees Fahrenheit interact with one another), it's hard to simultaneously factor in both.

Enjoy the show,

Joshua

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I've alluded to my long-term guess that the US Government will default on many of its current promises.

But, I've never really supported that argument.

I thought I'd kick that support off today by sharing with you a succinct and coherent description of the problem by reading Professor Laurence Kotlikoff's testimony to the Senate Budget Comittee in 2015.

Enjoy,

Joshua

• America's Fiscal Insolvency and Its Generational Consequences: Testimony to the Senate Budget Committee http://www.kotlikoff.net/sites/default/files/Kotlikoffbudgetcom2-25-2015.pdf
• Support Radical Personal Finance on Patreon! www.radicalpersonafinance.com/patron

I've never invested in raw land. My #1 reason? Since raw land has no utility, there's no way to pull income from it. And at this stage of my life, I value income-producing assets.

But, my guest on today's show has a great system for solving that problem.

He has parlayed raw land into a very helpful income stream leading to his own financial freedom.

Enjoy my interview with Mark!

Joshua

• Mark's website is: https://www.thelandgeek.com/
• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron