In this episode: survivor benefit plans, VA benefits, VSO's disability benefits, tax planning, healthcare, and blended retirement systems. This week we are joined by Daniel Kopp, founder of Wise Stewardship Financial Planning, to outline ways you can best prepare for military retirement. Together we cover pensions, navigating the Survivor Benefit Plan and additional benefits, healthcare and disability resources, as well as other financial decisions you can consider as you begin to transition out of the military. When dealing with any kind of retirement planning, taking actionable steps to prepare and get a plan in place for you and your family is essential. While everyone's circumstances may be different as they transition out of the military, there are many resources available and benefit programs you are entitled to before and after you leave duty! Daniel Kopp, CFP Website: wisestewardshipfp.comPodcast: Military to Financial Planner Timestamps: 1:26 – Introduction2:32 – Approaching Military Retirement/Blended Retirement System9:38 – Military Benefits/Healthcare15:36 – VA Benefits/Term Life Insurance22:12 – Disability Benefits/VSO’s30:17 – Survivor Benefit Plans43:13 – SBP Contingencies and Child Coverage50:41 – Tax Planning56:26 – Conclusion Resources Mentioned In Today’s Episode: Blended RetirementVA education benefits for survivors and dependentsEverything About The Military’s Survivor Benefit PlanSBP Financial Analysis ToolsDaniel Kopp Estate Planning for Military Families | Military Money Manual Podcast Episode 83Accredited VSO Representatives Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 “Military in Transition’s Guide to The Survivor Benefit Plan: Navigating the SBP” by Forrest Baumhover How VA Disability Compensation Affects Military Retirement Pay Income Tax and Rental Properties When You’re in the MilitaryMFAAChooseFI US MilitarySubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: public service accounts, side hustles, making FI possible, frugality, giving yourself freedom, and side hustles. This week we are joined by Chris Travers, a New York City public school teacher and FI community member, to discuss his journey from being a natural saver to becoming a savvy investor, talk advantages and disadvantages of some of the retirement accounts provided to teachers, as well as discuss some ways he has been able to grow his net worth in the last 10 years. Frugality is a term that often comes up while on the FI path, and finding a balance of saving and spending is crucial to reaching your financial goals. Remember that where you decide to save and spend and how you do so will evolve throughout your FI journey! While it can be hard to cut costs of the things you enjoy in the present, being willing to cut out what you don’t need can set you up for success in the future!  Chris Travers: Book: “TL;DR: Financial Literacy for New York City Public School Teachers: Optimizing Financial Decisions Based On Your TRSNYC Benefits” by Christopher Tavers and Karl FischInstagram: @thewealthyeducator Timestamps: 0:54 – Introduction6:47 – Public Service Accounts11:38 – Diving Into FI15:08 – Side Hustles/Making FI Possible22:17 – Renting vs Buying26:43 – Frugality and Loosening the Purse Strings32:25 – Giving Yourself Freedom37:53 – Conclusion Resources Mentioned In Today’s Episode: Join ChooseFI’s Facebook Group! “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J. Stanley and William D. Danko “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki “Smart Couples Finish Rich, Revised and Updated: 9 Steps to Creating a Rich Future for You and Your Partner” by David BachThe Unfair (FI) Advantage Of Teachers | 457b | ChooseFI Ep 13The Happy BodyMillennial Revolution Karl FischSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: spending down to zero, the ratcheting rule, the guardrails approach, high fee 401k's, and mini-retirements. This week we are diving back into the listener mailbag with Rachael Camp to address the pressing questions our community has! Whether it's curiosity towards the concept of dying with zero, determining whether it is a good time to take a mini-retirement, or working with high-fee 401k's, Brad and Rachael tackle it all! Listen along as YOU the community dictate the conversation with your hot button FI questions! Rachael Camp: Website: www.rachaelcampwealth.comTwitter: @camp_wealth Please note: Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies. Timestamps: 0:55 – Introduction1:38 – Spending Down to Zero10:15 – The Ratcheting Rule and The Guard Rails Approach20:38 – Flexible Spending Strategy27:01 – Does Everything Need to be Optimized?31:15 – High Fee 401k’s41:48 – Mini Retirement Considerations49:54 – Roth IRA Contributions and Faze Out Limits55:57 – Conclusion Resources Mentioned In Today’s Episode: “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins “Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts” by Annie Duke The Ratcheting Safe Withdrawal Rate – A More Dominant Version Of The 4% Rule? The guardrails approach is a flexible retirement withdrawal strategy: Here’s how it worksEarly Retirement NowThe Problem with the 4% Rule (and Why You Could Retire Even Sooner)The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17RRoth IRA Conversion Ladder Case Study | ChooseFI Ep 163RRetire Often Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: wants vs needs, side hustles, tax planning, college hacking, travel rewards, mindset, and living your values. This week we are joined by Joel and Emily Allen, a married couple with children based out of Iowa who truly embody what the FI movement is all about! Not only have they seized control of their life and finances, but have also managed to start a successful side hustle, provide incredible resources to the community around them, travel the world, and so much more! While the FI movement is about financially freeing yourself and your family, it is also important to remember why we want that freedom. Not stressing about money is just one piece of a fulfilling life, once you have that freedom, take advantage of it like the Allen’s have! Timestamps: 1:25 – Introduction/The FI Mindset9:02 – Budgeting/Wants and Needs14:59 – Side Hustles21:02 – Financial Literacy to FI23:29 – Tax Planning/Travel Rewards29:11 – College Hacking42:05 – Living Your Values and Taking Time Off48:39 – The Importance of Knowing the Rules53:48 – Traveling Like a Pro69:25 – Conclusion Resources Mentioned In Today’s Episode: Dave RamseyTravel Rewards | ChooseFI Preparing for the Cost of College | Brian Eufinger | ChooseFI Ep 460The 10 Pillars Of FIModern States The $100K Glorified Sleepaway Camp | Millionaire Educator | ChooseFI Ep 386All the HacksSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile

In this episode: building a giving framework, the giving pledge, compound impact, donor advised funds, and different ways to give. Is it better to give to charity in a lump sum versus incrementally? What are the tax implications of donating? What are the benefits of using donor advised funds? This week we answer these questions and more with the help of Rebecca Herbst and Jack Lewars as we discuss charitable donations and effective giving while on the FI journey. A large part of FI is taking actionable steps to improve your life, but this journey also opens up opportunities to improve the life of others. While navigating donations while on the path to FI can seem tricky because we are so focused on attaining our FI numbers, there are still many ways you can give back and make a difference. Creating the habit of effective giving can help you leave an impact on yourself and the world at large! There are many resources available that can help calculate what you can give while remaining on the FI track, as well as help you see how your donations are making a difference!  Rebecca Herbst & Jack Lewars: Yield and Spread: yieldandspread.orgRebecca’s Coaching Program: Coaching for do-gooders1 For The World: 1fortheworld.orgJack’s LinkedIn: Jack Lewars Timestamps: 1:37 – Introduction4:24 – The Giving Pledge11:59 – Building A Framework And Effective Giving23:20 – Should You Get To FI Before You Give?33:12 – Compound Impact39:48 – Feedback From Giving And Fun Funds51:08 – Different Ways To Give61:09 – Donating Appreciated Stocks66:59 – Conclusion Resources Mentioned In Today’s Episode: Join Your Local ChooseFI Group“The Life You Can Save: How to do your part to end world poverty” by Peter SingerSchool of Hard Knocks “Practical Ethics” by Peter SingerGiveWell The Life You Can Save“Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins Yield & Spread’s DAF Series “Doing Good Better: How Effective Altruism Can Help You Help Others, Do Work that Matters, and Make Smarter Choices about Giving Back” by William MacAskillSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: salesforce, lifestyle design, testimonials and verification, the hidden job market, and talentstacking. Once again joined by friend of the show Bradley Rice, the owner and creator of TalentStacker, to update us on the value of SalesForce and career pivoting in 2024. While on the FI journey, you are actively creating the life you want to live. For many that means transitioning out of their life-long careers and opting for ones that offer something different and more accustomed to the life you’re creating. Learning a new skill or starting a side hustle can be the first step to finding that new career, and finding a program that works for you should offer more than just a certification, but assist you in finding new opportunities and a community that supports you! Bradley Rice: Website: talentstacker.comFacebook: Salesforce for EveryoneSalesforce 5 Day Challenge: Take the FREE 5-Day ChallengePodcast: Salesforce for Everyone Timestamps: 1:38 – Introduction4:17 – Work, Lifestyle Design, and Talentstacking10:15 – Testimonials, Doing Your Research, and Verification14:55 – The Hidden Job Market19:36 – Entering a Salesforce Career with Talentstacker26:39 – Salesforce Security32:25 – Conclusion Resources Mentioned In Today’s Episode: The Hidden Job Market | ChooseFI Ep 379CampFIMaking The Case For Part Time With Bradley Rice | ChooseFI Ep 117TrailheadSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: caregiving and FI, retirement planning, reverse mortgages, long-term care, and long-term care insurance. This week we are joined by Danielle Miura to discuss how her experience as a caregiver has impacted her FI mindset, as well as answer listener questions pertaining to planning for your own long-term care while on the path to FI. As you and your loved ones get older, it’s important to start considering what additional finances they may require. From long-term healthcare to assisted living, there are many factors that not only impact their life financially, but could impact you and your FI plans. While it may be uncomfortable to have conversations with loved ones about their finances and expenses, it is imperative to have these discussions early and create a plan that works for you and your family. Danielle Miura: Website: spark-fin.comLinkedIn: Danielle MiuraTwitter: @Daniellemiula Timestamps: 1:19 – Introduction2:22 – Caregiving and FI7:28 – Dealing With Poor Retirement Planning15:38 – Reverse Mortgages and Viability of Selling The Home21:41 – Having The Uncomfortable Conversation24:40 – Planning For Your Final Years32:41 – Long-Term Care and FI36:10 – Long Term Care Insurance45:30 – Conclusion Resources Mentioned In Today’s Episode: Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: optimized exercise, recovering, machine use, increasing your healthspan, and long-term thinking. This week we are joined by Brad’s friend and personal trainer, Dean Turner, to discuss the changing landscape of strength training, and how principles such as consistency and adherence coupled with rest and recovery can also be applied to both your fitness and FI journey. We often talk about how the path to FI is not just about working towards a monetary goal, but rather creating a better life for yourself. For some this can mean taking a personal account of your health, and taking actionable steps to improve it. Just as making financial changes requires consistency, making physical changes requires the same. While these changes don’t happen overnight, these actions continuously build off of one another and make you stronger! Dean Turner: Twitter: @DeanTTrainingWebsite: deanturnertraining.com Timestamps: 2:30 - Introduction3:41 - Optimized Exercise9:13 - Recovering and Machine Use20:51 - Increasing Your Healthspan27:44 - Long-Term Thinking29:48 - Conclusion Resources Mentioned In Today’s Episode: Your Bold Move for 2023 | Dominick Quartuccio | ChooseFI Ep 419The New Science of MuscleJames Clear, Atomic Habits — Simple Strategies for Building (and Breaking) Habits, Questions for Personal Mastery and Growth, Tactics for Writing and Launching a Mega-Bestseller, Finding Leverage, and More (#648)Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life. This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it’s also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.  Mile High FI: Podcast: milehighfi.comNewsletter: Join the Mile High FI Club Timestamps: 1:13 - Introduction2:41 - Analyzing Finances In Your 20s9:31 - Compounding Power13:25 - The Boring Middle21:01 - FI Role Models26:41 - Building A Life On The Journey35:01 - Fat FI45:37 - Saving Versus Life Enhancement54:21 - FI Checkpoints57:52 - Conclusion Resources Mentioned In Today’s Episode: The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472Mr Money MustacheJL Collins"Die With Zero: Getting All You Can from Your Money and Your Life" by Bill PerkinsThe Spectrum of Financial Independence and Tools to Track Your Progress with Brad BarrettMini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451The Stages and Checkpoints of FI | ChooseFI Ep 324Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: buy and hold, macroeconomics, interest rates, bond investing, when to sell, mindset, and thinking differently. This week we are joined once again by friend of the show Brian Feroldi to discuss the stock market and investing as we head into 2024. As most of you know by now, keeping your head down and staying the course is a pretty typical investing strategy in the FI community, but it is important to remember personal finance is personal. Depending on your situation, life may require you to mold that strategy into something else as your mindset and seasons of life change! Make sure your are not only optimizing your financial situation, but also your life in the process! Brian Feroldi: Website: stockinvesting.schoolWebsite: longtermmindset.coTwitter: @BrianFeroldiLinkedIn: Brian Feroldi Timestamps: 0:33 - Introduction3:42 - Buy and Hold8:36 - "Macroeconomics"15:17 - The Impact of Interest Rates/ Bond Investing20:36 - High Yield Savings Accounts27:18 - 2024 Investing33:19 - When to Sell38:05 - The Evolution of Your Mindset43:40 - Thinking Differently47:52 - VTSAX51:21 - Conclusion Resources Mentioned In Today’s Episode: The Motley Fool"Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" by Robert KiyosakiThe Role Of Bonds In A Portfolio with Frank Vasquez | ChooseFI Ep 194Risk Parity Radio"Die With Zero: Getting All You Can from Your Money and Your Life" by Bill PerkinsSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails. Ginger joins the podcast this week for a special “Hot Seat” episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it’s incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn’t about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.  Timestamps: 1:45 – Introduction2:29 – Ashley and Atomic Habits10:17 – Tyler and Opportunity Cost19:09 – Amanda and Mental Wellbeing25:17 – Caesar and PSLF Forgiveness30:56 – Aaron, House Hacking, and DIY37:17 – Ginger Takes The Hot Seat59:33 – Brad Takes The Hot Seat76:19 – Conclusion Resources Mentioned In Today’s Episode: “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James ClearAtomic Habits | James Clear | ChooseFI Ep 157“Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins“Just Keep Buying: Proven ways to save money and build your wealth” by Nick MaggiulliBitWarden“The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence WilliamsI Will Teach You To Be RichBook your custom student loan plan“Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz“Flow: The Psychology of Optimal Experience” by Mihaly CsikszentmihalyiRisk Parity Radio“Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt WalkerThe Matt Walker PodcastPeter AttiaGinger’s New SheetsMy First Million PodcastProf G ShowPivot PodcastTodoistDean Turner TrainingSend Us A VoicemailSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate. This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren’t in place. While death can be an uncomfortable topic to think about, it’s important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy’s story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it’s uncomfortable. Timestamps: 1:23 - Introduction2:45 - Amy's FI Journey9:03 - Income Planning and FI17:24 - What Follows Tragedy28:33 - The Importance of Wills and Beneficiary Designation36:23 - Preparing in Advance and Considering The Possibility44:27 - Immediate Access and The Ancillary Things48:15 - Probate59:09 - Setting Up Your Estate65:09 - Conclusion Resources Mentioned In Today’s Episode: The Shockingly Simple Math Behind Early RetirementIntestate SuccessionThe Family Emergency Binder | ChooseFI Ep. 125 (Promo Code "ChooseFI")Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: taxable accounts, the 72(T), inherited retirement accounts, 457B's, roth conversion ladders, and the rule of 55. This week we are joined by the “FI Tax Guy” Sean Mullaney to walk through examples and discuss some strategies you could use when accessing your retirement funds early. No matter where you are on your FI journey, there can come a time where retiring early becomes a feasible option, but there can be many stipulations and tax implications that come with withdrawing your funds before the age of retirement. Tune in as we discuss several different options you can pursue in order access your money without having to wait until the 59 and a half year old threshold. The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Brad and the ChooseFI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Sean Mullaney: Website: fitaxguy.comWebsite: Mullaney Financial and TaxTwitter: @SeanMoneyandTaxYouTube: @SeanMullaneyVideos FIRE in Vegas: Join Brad Barrett from ChooseFI, the Donegans from Rebel Finance School and other FI enthusiasts for a weekend of inspiration, education and fun in Sin City. Timestamps: 0:47 - Introduction3:39 - Taxable Accounts19:03 - Inherited Retirement Accounts25:30 - The Rule of 5528:39 - 457B's30:46 - Roth IRA Conversion Ladder39:12 - The 72(T)54:52 - Paying the Penalty57:25 - Conclusion Resources Mentioned In Today’s Episode: Mailbag: Inflation and FI, ACA Subsidies, Roth vs. Trad and More | Cody Garrett | ChooseFI Ep 471The Roth IRA Conversion Ladder | A Case Study | ChooseFI Ep 17RRoth IRA Conversion Ladder Case Study | ChooseFI Ep 163RRetire On 72(T) Payments72(t) Payments in Google SheetsSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: social security, disability, calculating social security, claiming social security, and due diligence. This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don’t consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.  Denis Shapiro: Website: fsadvocates.com Timestamps: 1:16 - Introduction5:10 - What Pays for Social Security?11:13 - Social Security and FI/Disability Insurance17:30 - What Earnings Go Towards Social Security?23:19 - Disability, Work Subsidies, and Income Related Work Expense29:03 - How Social Security Benefits Are Calculated37:05 - Claiming Social Security39:59 - Social Security and Medicare44:28 - Social Security and Due Diligence56:27 - Working and Disability Benefits59:59 - Conclusion Resources Mentioned In Today’s Episode: SSA.govSocial Security Fact SheetSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: calculating when you retire, tracking expenses, health insurance, the importance of planning, and health spanning. This week we are rejoined by Teresa as well as Fritz Gilbert of The Retirement Manifesto to walk us through a case study of how to approach retirement while on your FI journey. It’s a common question to ask when you can retire or when you can stop working? Luckily there are plans of action and resources available covered in today's episode that will leave you feeling better prepared to proceed with a plan for retirement, no matter what part of your FI journey you are on. While there are many factors to consider when planning for retirement, such as savings versus spending rate and repositioning your portfolio, all these factors are manageable when you have a good plan in place. Take the time now to feel confident for what life will be like leading up to and after you retire! The Retirement Manifesto: Website: theretirementmanifesto.comBook: "Keys to a Successful Retirement:  Staying Happy, Active and Productive in Your Retired Years" by Fritz GilbertCase Study: From Food Stamps to FIRE: A Case Study on Retirement Planning Timestamps: 1:33 - Introduction2:37 - Calculating When You Can Retire7:46 - Does Retiring Early Effect Social Security?15:06 - Tracking Spending and Expenses20:55 - Health Insurance in Retirement29:49 - The Importance of Planning/Changing Your Assumptions40:17 - One More Year Syndrome/Your Health Span45:00 - The Second Phase of Retirement49:51 - Conclusion Resources Mentioned In Today’s Episode: From Food Stamps to FI | Theresa | ChooseFI Ep 453New RetirementSSA ToolsOpen Social SecuritySSA.govHow To Determine When To Claim Social Security (Retirement Manifesto)The Retirement Manifesto Net Worth Template"Outlive: The Science and Art of Longevity" by Dr. Peter Attia with Bill GiffordWhat Happens When The Paycheck Stops? – Keys To A Successful Retirement With Fritz Gilbert (Part 1) | ChooseFI Ep 206Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: the boring middle, lifestyle design, flow states, moving towards purpose, experiments, and experiences. This week we are rejoined by friend of the podcast Jessica from The Fioneers to the discuss the point of your FI journey known as the “Boring Middle,” and how through actionable steps and lifestyle design you can turn what feels like a stagnant stage in your FI journey, into one filled with growth and change! When you are well on your path towards reaching your FI goal, it is easy to feel like you’re not doing enough. But what feels like a waiting game can actually be an important time for self growth and experimentation. Taking the time to do some introspection to figure out what your core motivations are can allow you to begin opening yourself up to newer experiences that bring value into your life. So if you feel like you are currently on autopilot, there are steps you can take to shake up your routine and usher in new opportunities into your life. While you may have to quiet your own limiting beliefs in this process, you will learn more about yourself and what you want out of your life!  The Fioneers: Website: thefioneers.comYouTube: The Fioneers Timestamps: 1:12 - The Boring Middle/Lifestyle Design7:19 - Determining Your Version of Success18:41 - Finding Your Flow State28:16 - Implementing Your Designed Lifestyle/Moving Towards Purpose36:09 - Questions, Experiments, and Experiences46:59 - Making Dreams Actionable52:09 - Conclusion Resources Mentioned In Today’s Episode: Living Without Regret w/ Hospice Doctor (Slow FI Meetup)Find Your Local ChooseFI GroupSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: inflation, coast FI, early retirement planning, future tax liability, IRA's and 401k's, and diversification. This week we are rejoined by founder of Measure Twice Money Cody Garrett for another installment of the Mail Bag, where we will be talking through questions from our listeners covering topics ranging from inflation and its implications on your FI number, ACA subsidies and early retirement, as well as the similarities and differences with Roth accounts and future retirement tax liabilities. Listen along while we dip into the listener mailbag this week and discuss topics chosen from YOU the listener! Cody Garrett: Website: measuretwicefinancial.comLinkedIn: Cody Garrett Timestamps: 1:02 - Introduction1:35 - Inflation and Your FI Number11:41 - Early Retirement Planning21:55 - Calculating Future Tax Liability30:15 - Distinctions Between IRA and 401k33:37 - Diversification and Tech Stocks44:26 - Conclusion Resources Mentioned In Today’s Episode: The DIY Financial Plan | EP 352Find Your Local ChooseFI GroupMeasure Twice Financial CalculatorSee Healthcare Plans and PricesMeasure Twice Planners Preview: How to Review a Federal Tax ReturnSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: FI versus FIRE, coast FI, lean FI, tools for FI, the skill of spending, dying with zero, and prioritizing health. This week we are joined by our friend and host of the “All the Hacks” podcast, Chris Hutchins to discuss the “spectrum” of FI, and all that falls in between. From the evolution of FI over the years, to the changes we’ve made on our respective journeys, and even differentiating terms such as FI versus FIRE and Coast FI, we cover it all! We also found some time to share some tools and resources that can be beneficial to you and your FI journey. While the path to FI allows you to take control of your financials and future, this journey can usher in so many new perspectives and changes that affect all areas of your life! Allowing yourself flexibility and remembering that what you are working towards isn’t just a number or early retirement, but rather a more fulfilling life!  Chris Hutchins: Podcast: All The HacksNewsletter: All The Hacks Newsletter Timestamps: 1:16 - Introduction3:19 - FI Versus FIRE10:11 - Lean FI17:11 - Coast FI30:20 - Tools for Tracking FI41:48 - Optimizing Accounts47:56 - The Skill of Spending and Dying With Zero60:12 - Prioritizing Health70:01 - Conclusion Resources Mentioned In Today’s Episode: Silicon Valley FI | Chris Hutchins | Grove | ChooseFI Ep. 71Financial Independence Without a Six Figure SalaryReflecting on All the Hacks, Valuing Time and Focusing on the Year AheadEarly Retirement Now Safe Withdrawal Rates SeriesCopilotKuberaProjectionLabDie With Zero: Net Fulfillment Over Net WorthSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: real estate, upskilling, taking action, tracking your expenses, setting goals, getting on the same page, and the hot seat. This week we are joined by listener Navish Bahl to discuss his journey on the path to FI, the actionable steps he’s taken in order to maximize his life, answer some questions in the HotSeat, and navigating your FI journey while your significant other or family may not be on board. There are many avenues you can utilize in order to achieve FI, and while it may be overwhelming at times to figure out what works for you and your journey, remember that the goal is to learn and go through life with more freedom and balance, not stress and burnout trying to chase a number. The path to FI is a personal one, and as you embark on your journey allow yourself some patience but also some flexibility, and don’t forget to extend some patience to others in your life who may not be on the same path.  Navish Bahl: LinkedIn: Navish Bahl Timestamps: 0:52 - Introduction2:30 - The Inspiration to Start and Taking Action11:44 - Real Estate and Rental Properties18:42 - Upskilling, Getting New Jobs, and Making Connections33:09 - Discovery, Education, and Action in FI39:52- Tracking Your Expenses46:34 - Getting on the Same Page50:21 - The Hot Seat55:18 - Conclusion Resources Mentioned In Today’s Episode: "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" By Andrew Hallam"The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. CollinsSmall and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446CIT Bank Review: High Interest Rate OptionsFind your Local ChooseFI GroupSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: checking boxes, supplementing income, life by design, taking action, the value of time, and year end wins! This week we are re-joined by Johnathan for our 7th annual year-end-wins episode! Together we tune into voicemails sent by you the listener and celebrate your victories from 2023! From confidently investing in your future, to finding new friends and support systems within the FI community, we are proud to be a part of your journey towards reclaiming your freedom and your time! There are many small and large goals you all met that deserve to be celebrated! Listen along as we discuss and commend you for taking action and making the most out of your FI journey this year!  Timestamps: 0:53 - Introduction3:03 - Katie, Supplementing Income, and Checking Boxes6:56 - Rakesh, Second Generation FI, and Investing9:02 - Stephanie, Life by Design, and the Health Snowball11:45 - Brian, Coast FI, Teaching FI, and Choosy Consulting16:16 - Boyd and Emergency Funds18:13 - International Coast FI, Taking Action, and Reclaiming Your Time21:25 - Anthony, Skilling Up, and Chasing Your Dream With FI25:35 - Donna, Helping Family, and Finding Peace Through FI30:24 - Bryan, The Value of Time, and Deciding to Change37:31 - Paul, FI Travel Wins, Healthcare, and College Hacking42:01 - Sabrina, Breaking the Cycle, Marginal Gains, and Being 1% Better47:52 - Conclusion Resources Mentioned In Today’s Episode: From Vision Board to Action: A FI Success Story | Rakesh | ChooseFI Ep 436Finding Your Locus of Control | Stereo Live Q&A | ChooseFI Ep 305From Blood Cancer To The Boston Marathon | Boyd Dunleavey | ChooseFI Ep 394Millionaire EducatorHouse Hacking With Coach Carson | ChooseFI Ep 16Subscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)