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ChooseFI

By: ChooseFI
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  • Summary

  • How would your life change if you reached Financial Independence and got to the point where working is optional? What actions can you take today to make that not just possible but probable. Jonathan & Brad explore the tactics that the FI community uses to reclaim decades of their lives. They discuss reducing expenses, crushing debt, tax optimization, building passive income streams through online businesses and real estate and how to travel the world for free. Every episode is packed with actionable tips and no topic is too big or small as long as it speeds up the process of reaching financial independence.
    © 2019-2023 Choose FI. All Rights Reserved. Disclaimer: The information contained in this podcast is for general information purposes only. In no event will we be liable for any loss or damage derived from the information provided.
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Episodes
  • 487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP

    487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP
    Apr 15 2024
    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
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    59 mins
  • 486 | The Wealthy Educator | Chris Travers

    486 | The Wealthy Educator | Chris Travers
    Apr 8 2024
    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
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    41 mins
  • 485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael Camp

    485 | Mailbag: Spending Down to Zero, High Fee 401k, Mini Retirements | Rachael Camp
    Apr 1 2024
    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
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    57 mins
Career Success Economics Personal Finance
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Profile Image for teresa corbett

A fantastic perspective adjuster!

There's so many nuggets I'm glad I now know! Here's to the future! Thank y'all!

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Profile Image for Ashley

Relatable, educational, fun!

Jonathan does an amazing job cultivating insight from his guests. He actively listens to understand and asks clarifying questions. I love listening and learning on my FI journey!

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Profile Image for Britni

love these guys and the subject

starting from the beginning years later i love the topics and how down to earth they are. I know they are way beyond this point now. hope that doesn't get to their head. but awesome so farr

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Profile Image for Timothy Hayes

Excellent information

So far this podcast has been life changing. I have learned so much about reducing debt, increasing income and so much more.

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