Radical Personal Finance

Radical Personal Finance is "a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less." That's the slogan that I came up with as the unifying theme after creating about 300 episodes of the show.

But, although I've been using this slogan for a while, I've never actually explained each of the statements in that slogan. And they're all important.

Today, I tackle the first part: What does it mean to live a rich life now?

There are immaterial aspects to a rich life and there are also material aspects to riches.

Today we tackle the immaterial.

Enjoy!

Joshua

• Want to get on a consulting call with me regarding your situation? Go here: www.radicalpersonalfinance.com/phonecall
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron

I've previously stated that I don't understand why anyone would go into the field of medicine as a way of getting rich.

I understand why people would want to do it because it fits their goals and personality and sense of calling, but I've always felt that it's a bad move financially.

Even though you can earn a high income, there are a lot of disadvantages to the career!

Well, my guest on today's show disagrees with me!

He's a practicing physician and he thinks I'm dramatically misrepresenting the financial potential and payoff of medicine.

I think you'll enjoy our debate!

Joshua

• Peter Steinberg's professional site: www.bidmc.org/kidneystone
• Support RPF on Patreon! www.RadicalPersonalFinance.com/Patron

A lot of us face difficult situations. And it's tough to maintain a positive attitude. But, have you considered what some other people face?

What would you do if you were facing a >70% unemployment rate in your town?

What would you do if you were working a job that hadn't paid you in >6 months?

What would you do if you had electricity for only 2 hours per day?

After listening to today's show, I promise you'll look at the opportunities around you with a fresh appreciation.

Enjoy!

Joshua

Bola's Fiverr profile: https://www.fiverr.com/ipriest

Bola's publishing company: http://www.cryoutpublishing.com

Support RPF on Patreon: www.radicalpersonalfinance.com/patron

June 1 is the start of hurricane season here in South Florida. June is always when I review my own hurricane preparedness plan and assess it for any weaknesses.

I've also kept a close eye on the Fort McMurray wildfires and the economic crisis currently underway in Venezuela.

Given these stark and vivid disasters, I've wanted to draw your attention to them as a way for you to consider how you're prepared to handle them.

Today I focus on the importance of money--specifically having some available to you in times of crisis.

Enjoy,

Joshua

• YouTube: "Fort McMurray Evacuated During Massive Wildfire" https://youtu.be/kSPFt6O1FLI
• YouTube: "Welcome to Hell - Driver Escapes Fort McMurray Wildfire" https://youtu.be/ieTQvIdG-Vo
• YouTube: "Owners Watched Fort McMurray Home Burn to Ground Over iPhone" https://youtu.be/JTlGFsP4JeQ
• 'We want out of this agony': What it's like to eat in a country that's on the verge of collapse http://www.businessinsider.com/venezuela-economic-food-crisis-meals-2016-4
• Dying Infants and No Medicine: Inside Venezuela's Failing Hospitals http://www.nytimes.com/2016/05/16/world/americas/dying-infants-and-no-medicine-inside-venezuelas-failing-hospitals.html?_r=2
• Support RPF on Patreon www.radicalpersonalfinance.com/patron

Today I've invited Jules Haas on the show to talk real estate entity selection and estate planning.

Jules has an especially interesting perspective given where he lives and practices law: downtown New York City.

We discuss:

• how to decide if you should own real estate within an entity or not
• how to own real estate with maximum privacy (and why it's important)
• estate considerations for different methods of ownership

Enjoy!

Joshua

• Jules's website: https://www.juleshaasattorney.com/ (For a free consultation, call 212-355-2575.)
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron

Today on Radical Personal Finance we veer into an interesting niche in the real estate market.

Do you have an appreciated rental property with a lot of equity in it? Would you like to know how to transition out of that personally managed property into a professionally managed portfolio without paying capital gains taxes on the transfer?

That's what today's interview is about.

My guest is Leslie Pappas. She's an expert at using 1031 Exchanges and Delaware Statutory Trusts in a very specialized segment of the real estate industry.

Enjoy learning about this niche!

Joshua

• Amazon: "Cashing in Tax Free: Your Ultimate Guide to a Tax-Free Retirement Using 1031 Exchange and Delaware Statury Trusts (DSTs)" http://rpf.link/1RXjo83
• Leslie's website: http://www.archerinvestors.com/
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron

My guest on today's show is Mr. Groovy, writer at the eponymous website www.FreedomIsGroovy.com

He reached out to me and pitched me for some exposure for his idea of a Junior IRA. I accepted his request and invited him on the show.

I also thoroughly enjoyed hearing his story of getting free financially with a simple geographic move. There's a lesson in there for many of you.

Enjoy the show!

Joshua

• Mr. Groovy's JIRA idea: http://freedomisgroovy.com/junior-ira-nutshell/
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron

On Fridays, I do a live Q&A call for patrons of the show.

Today we cover:

• When Should My Wife Take Social Security?
• Should I Buy Term Life Insurance as an Investment?

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

Joshua

• Social Security Strategies: How to Optimize Retirement Benefits by William Reichenstein and William Meyer http://rpf.link/1ss19mu

I'm always keeping my ears out for interesting ways to earn a living--or a side income. And today, I've got exactly that for you.

My guest today is Brad DeGraw. Brad is an expert at selling stuff through Amazon.

He claims to have started with $100 and a WiFi connection and to have turned it into over $1,000,000 in sales to date.

Enjoy the interview!

Joshua

• Brad's website: http://amazonsherpa.com/
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron

My guest today is Matt Hall. Matt is a financial advisor who learned the hard way what works and what doesn't in the world of financial advice.

One of the missions of Radical Personal Finance is to pull back the curtain from the world of financial advice. I do my best to ask direct questions of financial advisors and give them an opportunity to share their perspective.

Enjoy!

Joshua

• Buy Matt's book "Odds On: The Making of an Evidence-Based Investor" on Amazon. http://rpf.link/1Ubu196
• Matt's website: http://matthallbook.com/
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron