Explore every episode of the podcast Radical Personal Finance
| Title | Pub. Date | Duration | |
|---|---|---|---|
| 1075-A Billion Dollar Exit Doesn't Lead to Automatic Happiness | 06 Jan 2025 | 00:22:40 | |
| 1074-Why You Should Use Apple or Google Pay Instead of a Physical Credit Card | 10 Dec 2024 | 00:22:47 | |
Learn this and many more useful tricks in the RPF Academy: www.RPFacademy.com. | |||
| 1066: You—And the Country—Are Ten Years From a Total Transformation; Don't Give Up! | 06 Nov 2024 | 00:33:50 | |
| 979: Friday Q&A: Mental Models, Good Starter Estate Plan, AI, Barefoot Shoes, Prepare Food, Peter Zeihan, and more! | 17 Nov 2023 | 01:22:18 | |
On today's Friday Q&A we discuss:
Joshua
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| 145-Brilliant Market Timing or Pure Serendipity? Interview With Nick O'Kelly, Co-Author of Live On The Margin | 03 Feb 2015 | 01:42:55 | |
My guest today is Nick O'Kelly. Nick is the co-author of Live On The Margin, a book about taking a different approach to regaining control of your time. (We previously interviewed Pat Schulte, his co-author, in Episode 50: "From an $8/hr Job After College to Financial Independence at Age 30 to 10+ Years of Global Travel With Family! Interview With Pat Schulte From Bumfuzzle.com") Nick is a meteorologist, a pilot, a captain, and an adventurer. He's also a writer, producer, and voiceover artist. Enjoy this in-depth interview in which we discuss:
Enjoy! Joshua Links: | |||
| 144-Friday Q&A: Can I Retire With $1.4M, What Do I Do With Too Much Cash, and Should I do a Roth 401(k) or Traditional 401(k)? | 31 Jan 2015 | 01:00:09 | |
Today, I bring to you three very fun but straightforward questions. Here they are: Question #1: @01:56 Dear Joshua, My wife and I are well read in the areas of index fund investing, frugal living, early retirement, and financial independence (including your podcasts). We have been on the path to early retirement for many years and we think we are there. We both have high stress jobs and want to quit to raise a child and do whatever interests us whether it brings additional income or not. We want to have a significant financial cushion, but also don’t want to be so conservative that we work years longer than necessary. We are worriers and are very conservative in our estimates. Although we are fairly confident in our calculations for early retirement timing, we hired a fee only financial planner for an outside opinion, and the experience was positive, but we believe the timing recommended was extremely conservative (4 years from now without a child; 5-6 years from now with a child). We have a very good handle on our spending as we have been tracking it closely for several years. The financial planner did not seem to understand our frugal lifestyle and rather than reducing our current spending by the “cost of working” that we clearly communicated, he added $15,000 per year to our current spending, which significantly changes the projections for retirement. The explanation given was to account for “unexpected expenses”, but that amounts to >$20,000 per year in excess of our retirement spending estimate below. We would be very grateful for your opinion of our plan to retire NOW, given the following data, which we have abbreviated to the most important points. Ages: Him-45, Her-37 Debts: None (own a house and 2 cars free and clear) Assets ($1,300,646) Asset Allocation: Spending: Current Spending: $45,000 Question #2 @26:20 Joshua, Came across your podcast and dig the advice/honesty. I've read numerous articles encouraging the use of fee-based financial advisors but haven't had a lot of luck finding the right person.. discouragement set in after numerous canned responses/what seemed like aggressive sales tactics. I made somewhat of a half ass attempt in my early 20s with regularly maxing out a roth/always contributing enough to various company 401k to get the contribution match. I've not paid a lot of attention and recently realized I'm holding roughly 50% of my total assets in a standard savings account yielding only 1%. Without pulling the actual figures that'd be ~90k in retirement accounts Roth/Traditional rollover and ~90k in straight up cash... terrible I know. My question is how do i fix/prevent it? I currently have one investment property with a mortgage that's less than what it's leasing for. I see a couple fix it options: Buy another house Pay down existing mortgage Invest outside of a retirement account I believe adjusting my 401k contribution may be a start to preventing it but what about after I max it out? I don't mind paying for advice but what I really want is someone that's hands on/up to date.. helping me get the most out of my money. Question #3: @46:37 Joshua My name is Joe and I’m 24 years old. I’ve been listening to your show for a while now and really enjoy it, keep up the good work. My question has to do with whether or not a Roth 401k is the right move for me. Currently my gross income is $58,616. This year, I’ve contributed 6% of my AGI into a regular 401k and my employer matches .80 cents on the dollar up to the first 5% of my pay. ($3,517+$2,344 = $5,861) I also contribute to my Roth IRA and will max it out at $5,500. My employer just recently began offering a Roth 401k option and my question is whether or not it is the best move for me to make to begin contributing to the Roth vs the regular 401k? I understand the tax benefits on the front end at my young age and do believe taxes will rise in the future and also that I will hopefully be in a higher tax bracket in retirement than I am now. In my mind, the advantage of the Roth is the higher contribution limit (18k vs 5,500) but the advantage of the Roth IRA is I have it at Schwab and have lower fees and more investment options than inside my 401k. I would like to keep my net take home pay the same and am having trouble running the math to figure out which would be the better option. In addition, I have the option to do a Roth 401k conversion on the $12k that’s in my Regular 401k. Your advice would be much appreciated. About me: Assets: $27k in Roth IRA, $12K in 401k, $3k in taxable investment acct, $6K in savings acct, $2k in checking acct Debts: $41,200 Federal Parent PLUS @ 7.65% and $16,500 @ 5.25%. I currently am on the standard repayment plan (10 yrs) and make an extra $100 payment each month on top of that. No credit card debt or any other type of loan, own a 2005 Camry that is paid off. *** Enjoy the show! Joshua | |||
| 143-Intro to Self-Directed IRAs: How to Invest In Real Estate, Tax Liens, Physical Gold and Silver, Structured Settlements, Horses, Livestock, Farmland, Timberland, and More In Your IRA | 30 Jan 2015 | 01:55:10 | |
I've been looking for an expert on self-directed IRAs to bring on the show and I was thrilled to meet Kirk Chisholm at FinCon last year. Kirk is an expert in both the self-directed IRA niche and the alternative investments world. His firm, Innovative Advisory Group, helps serve clients in this space with advice. Self-directed IRAs can be a powerful tool in your arsenal. Just think of the magic of Mitt Romney's $100,000,000 IRA! When you combine an IRA with alternative investments, you might really be able to work some magic. What is an Alternative Investment? Well, right from Kirk's site: "The term “alternative investment” has become a trendy term in the financial services industry to describe new approaches to investing. It is frequently used to describe different asset classes or investment types such as: hedge funds, structured products, managed futures, or even Timber REITs. If you describe traditional assets as stocks, bonds and mutual funds, then by contrast everything else is an alternative investment. "We look at the term “alternative investments” differently. We take a step beyond the current industry definition and use it to describe assets or investments such as physical real estate, tax liens, physical gold and silver, structured settlements, horses, livestock, farmland, timberland, and more. We would characterize alternative investments as an asset or investment which is: not publicly traded, has a low-correlate to most traditional investments, is too small for institutional investors, is illiquid, is not easily able to be securitized, or is not reliant on the publicly traded markets to be profitable. "The characterization of what is a suitable asset for diversification purposes is a fluid concept. Some asset classes, which have traditionally provided a low or negative correlation to other assets, have become much more highly correlated since early 2000. Asset classes such as managed futures, timberland, farmland, and certain types of hedge funds in the past did provide a low correlation to the traditional markets, however, due to a higher level of institutional interest in these areas, as well as changing market conditions, they have become more highly correlated to traditional markets. This minimizes the effects of diversification as a risk management tool." This interview is super fun and super deep. Enjoy! Joshua Links:
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| 142-One Possible Business Model For an Ethical Financial Planning Practice Serving Middle-Income Families | 29 Jan 2015 | 01:25:29 | |
I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.) In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating. Here are my ideas. The show includes a discussion of:
Enjoy the show! Links: | |||
| 141-Establishing a Success Mindset In Preparation for Urban Farming: Interview with Curtis Stone | 27 Jan 2015 | 01:32:27 | |
The most popular episode--by a long shot--of the Radical Personal Finance podcast is Episode 40: "Making $80k on 1/3 Acre With an Urban Farm Without Owning Land? Yes, Please! Interview With Curtis Stone." Today, Curtis is back for another appearance. We set out to record a show with a basic overview of how to get into urban farming with some practical steps lined out. The first step is to get your mindset right. Although our interview got stuck on step one, it wound up being a fascinating discussion of business principles. We discuss:
I hope you enjoy! Joshua NOTE: Curtis is on the road over the coming weeks with seminars in Florida, California, Washington, British Columbia and Mexico. Details are here: http://www.greencityacres.com/events/ Links:
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| 140-Friday Q&A: Planning Steps When A Spouse Is Planning to Stay Home, Borrowing On A Paid-For House For Real Estate Investment, Pension Plans in an Asset Allocation Plan, and How To Plan Your Life Together After Divorce | 27 Jan 2015 | 01:39:57 | |
On Fridays, I answer your questions! And, even though this is going out on Monday, I still answer your questions! :) Today, I handle these four questions:
Enjoy! Joshua
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| 139-My Advice for People Interested In Getting Into Financial Planning | 22 Jan 2015 | 01:22:01 | |
At this point, I'm honored to get about an email a week from someone asking about how to get into the financial planning business. Sometimes, I get multiple emails in a day! Here are four examples that I mention on the show today:
It's a great question and there are a bunch of ways to answer it. I decided for today to focus on the big picture answer which is primarily about having a good fit between your skills, your firm, your firm's abilities, and your prospective clients. I might do another show on the actual steps needed to set up a firm if you want to do it independently. In this show I go through:
Enjoy! Joshua
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| 138-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 1 | 21 Jan 2015 | 01:30:18 | |
We're continuing our college series with an in-depth discussion of 529 plans. 529 plans are incredibly popular in all their permutations. (Many people who are currently participating in a 529 plan don't actually realize it because they refer to it as a pre-paid tuition program.) They're also under attack. President Obama's most recent budget proposal targeted them for change. (It also targeted Coverdell ESAs.) Personally, I think 529 plans are often misused and mis-applied. The majority of the mass affluent who participate are simply not getting a huge benefit in exchange for giving up the freedom and flexibility of the money. But, there are a number of things that can be done with these accounts that are really unique. Enjoy part 1 of our class today and learn:
Enjoy! Joshua Links: | |||
| 137-Ideas To Make More Money on the Side: Interview with Nick Loper from Side Hustle Nation | 19 Jan 2015 | 00:52:54 | |
As we rattle around and around the iron triangle of wealth (income, expenses, and intelligent use of the difference), we come today to the topic of income. Specifically, how can you create some extra income? The world is changing and there are more opportunities to earn some money from a side project than ever before. No longer are you limited to throwing papers early in the morning or delivering pizzas in the evening; now, you can work in all kinds of interesting ways with people from all over the world. Listen to today's show and enjoy some of the ideas. But, if none of the ideas appeal to you, use them as a jumping off point and create your own idea. Enjoy! Joshua Links: | |||
| 136-Get Ready for Global Recession and $20/Gallon Gas in 2015! | 16 Jan 2015 | 00:54:53 | |
We need to get into some economics today and I'm going to do some prognosticating. This is a very rare event on the show, so here goes! Prediction: there will be a global recession in the future. And gas will go up to $20/gallon. Now that we have that out of the way, let's talk about what we can do to get ready for it! After all, that's the only thing that likely matters to you or me. One of the keys to being financially successfully over the long term is to avoid the big mistakes. One big mistake (of many) might be getting laid flat by the coming recession and increase in gas prices. Today I share with you some thoughts on some of the things you can do today to prepare for this eventuality. I hope these ideas are useful to you! Joshua Links:
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| 978: Why I Left the USA, Part 4, For Me | 16 Nov 2023 | 00:55:01 | |
I've been releasing this series as part of my promotion for my forthcoming event in Panama. Come hang out with me and make your own International Plan! https://expatmoney.com/radical Or buy my course and just do it yourself: http://www.internationalescapeplan.com
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| 135-Be Confident in Your Unique Offering and Then Stick To Your Knitting | 15 Jan 2015 | 00:51:36 | |
Today's show is a bit of a pep talk--for you but also for me! We are taught by society to compare ourselves with other people. Even though we're all supposed to be "unique and different, we're really not. After all, we're measured on our weight as a baby (compared to all other babies), our grades as a student (compared with our class ranking), and the amount of money we make and have (thus defining us as successful)! Well, let's challenge that a bit. Sometimes we need a reminder to forget about what everyone else is doing and focus on what we're doing and why we're doing it. Join me today for a bit of a pep talk. I hope you find it encouraging. I was encouraged as I created the show. Joshua Here are the influences on today's show:
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| 134-Q&A: Incorporating in California vs. Wyoming (or Nevada or Delaware) and How to Decide Asset Allocation for an Investor in Sri Lanka | 14 Jan 2015 | 01:12:46 | |
Q&A continues with two very interesting questions today:
Enjoy the show! Joshua | |||
| 133-Q&A: Paying off Your Primary Mortgage With a HELOC (Mortgage Acceleration) and How Safe is My Deferred Comp Program? | 13 Jan 2015 | 01:17:24 | |
We're continuing our Q&A series this week and today I handle these two questions:
Enjoy the show! Joshua | |||
| 132-Q&A: Thinking Through Buying Life Insurance on Your Kids' Lives and Clarification on 72(t) Substantially Equal Periodic Payments for Retirees | 13 Jan 2015 | 00:56:17 | |
When I started recording the show, I planned to answer six questions. But, after finishing the first question and realizing how in-depth the show would be if I covered all six in one show, I decided to break it out into multiple shows. Today, I cover these two questions:
Notes-Life insurance for kids:
Notes-72(t) Calculations
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| 131-Filter Your Financial Advice Through the Lens of Scale | 08 Jan 2015 | 00:47:15 | |
I read a lot of financial advice from many different perspectices. I also frequently am asked about financial advice. "Is this a good idea?" "What do you think about this investment idea?" Over the years, I have noticed that I have developed a filter that many people don't have: I view all financial advice through a filtering lens of scale. When I hear advice, I don't immediately accept is a blanket statement; rather, I think, "what type of household profile would this be appropriate for?" When I talk to someone who's asking for financial advice, I try to ascertain where they are in their financial journey so I can give them the most appropriate advice. Having this filter helps me to give advice that matters. It also helps me to coach myself more effectively by identifying where I am in my own journey so that I can focus on the things that are most appropriate for me. In today's show I share with you many examples, including:
Enjoy the show! Joshua
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| 130-My Personal Development Plan for 2015 | 06 Jan 2015 | 01:18:33 | |
I like the change of the calendar year. It's a convenient time to sit down and take an inventory of where things are and assess the plans for where things are going. 2014 was an awesome year. It was certainly one of the more challenging times of my life and was filled with change of all types. But it was awesome. 2015 will be transformative. This year, I'll be heavily focused on stepping up my game and making everything I do to be world class. I have plenty of goals. But for me, the end result of achieving a goal is less important than who I become on the way. Also, since there's no way for me to achieve a lofty goal without developing as a person, I tend to focus less on the goal or outcome and more on the plan of what I need to learn and who I need to become. In today's show I share with you some of my areas of focus for 2015 and some of the plans I have for my personal development. Here are three of my areas of focus for the coming year coupled with some of my action plans for development as an example with resources:
Enjoy! Joshua | |||
| Teaching Canadians to be Financially Independent By Age 45: Interview with Timothy Stobbs, Author of Canadian Dream-Free at 45! RPF0129 | 02 Jan 2015 | 01:02:47 | |
As we begin a new year, I think it's fitting to start with a discussion of financial independence! My desire for all of you is that you may experience financial independence as you define it and that you may establish a workable plan this year toward its achievement. Tim Stobbs is right in the middle of his financial independence plan. After stumbling across the idea of early retirement/financial independence, he was awakened to the possibility that an ordinary person could achieve it. He set out a plan and started following it. He's now ahead of schedule! Along the way, he wrote a book to teach others how to accomplish the same goal. Topics include:
Enjoy the interview! Joshua Links: | |||
| The Financial Advisor Who Can't Retire: Interview with Paul Merriman RPF0128 | 30 Dec 2014 | 00:56:18 | |
My guest today is Paul Merriman. I was introduced to Paul by a couple of listeners who requested I bring him on the show. I'm glad they did! Paul is an experienced financial advisor. But, he did that as a retirement hobby rather than as a wealth-building strategy. To build his wealth, Paul took over, built, and then sold a manufacturing company. After retiring in 1982, he proceeded to build Merriman, a Seattle-based investment advisory firm. He grew the firm from nothing to $1.6B of assets under management and then sold it and retired to run his financial education site: www.paulmerriman.com. Topics on this interview include:
Enjoy the show! Joshua Links:
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| Money Advice For Teens: Interview with Eva From Teens Got Cents RPF0127 | 29 Dec 2014 | 00:43:13 | |
Today, I bring you an interview with a dynamo: Eva from TeensGotCents.com. I met Eva in New Orleans at the FinCon conference. She was attending with her mother and I was incredibly impressed with her. Eva writes about about personal finance for a teen audience. She began at the age of 15 and she shares her own journey and also gives advice for other young people. In the interview, we weave two themes:
Both of these themes are valuable. Frankly, I'm a bit jealous of Eva's early start in writing about the topics of personal finance. I wish I'd had the foresight to begin at her age. Listen carefully to the story of her site and consider how you can help your children--or yourself--to start something similar. It's a really neat story. Other topics include:
Enjoy! Joshua Links:
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| Investing in Sustainability and Weathering the Financial Storms of Life: Interview with Jeff from The Sustainable Life Blog RPF0126 | 26 Dec 2014 | 00:49:54 | |
Personal finance touches every aspect of life by definition. Every aspect of our life involves finance in some way. As we make the decisions of life, we're constantly faced with cost and opportunity cost:
These are ultimately the decisions we face. Culturally, we usually separate these areas of life into different decisions. But we shouldn't. Each of them (and many thousands of additional options) impacts the other. We're far better off if we view our life as a web of integrated decisions and we should be able to flow seamlessly among our different options. My guest today does just that. Jeff and his wife are raising a young family and are working toward financial independence together. Their personal interest in sustainability and green living has naturaly integrated with their financial planning. DIY activities and home improvement have had benefits in both areas. Enjoy today's show! Joshua Links:
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| 977: Why I Left the USA - Part 3, For My Children | 13 Nov 2023 | 01:02:51 | |
Come spend a week with me in Panama working on your international plan! https://expatmoney.com/radical Or buy my course and just do it yourself: http://www.internationalescapeplan.com | |||
| Establishing Rites of Passage to Ease the Transition to Adulthood: Interview with Dr. Vern Poythress RPF0125 | 23 Dec 2014 | 00:51:34 | |
My guest today is Dr. Vern Poythress. Dr. Poythress is a mathematician and a theologian. Most important for this discussion, he and his wife, Diane, are parents to two children, both boys. Dr. Poythress authored an article entitled "How I Helped My Boys to Become Christian Men," in which he outlined his family's approach to establishing a formal rite of passage for his sons to become men at 12 or 13 years old. His formal test and qualifications for them included religious training, knowledge, and behavior, specific acts of service to others, and specific areas of wisdom needed in an adult life. Much of this conversation is built on the Judeo-Christian tradition and Dr. Poythress outlines much of his curriculum from a religious perspective. It's key to recognize, however, that most cultures have a rite of passage for young men and women; these ceremonies vary and many are cultural, not religious. For example, toward the end of the interview we discuss the tradition of the debutante ball, a "coming-out" party for young women. If this concept interests you, consider designing your own curriculum based on your family's vision and values. Certainly, anything you intentionally design will be better than the negative rites of passage we currently promulgate in our culture. Enjoy! Joshua Links: | |||
| Designing Human Habitats for an Abundant Lifestyle: Interview With Ben Falk, Permaculture Designer and Founder of Whole Systems Design RPF0124 | 22 Dec 2014 | 01:10:39 | |
My guest today is Ben Falk. Ben is a really incredible permaculture designer with a comprehensive focus. Ben runs a planning firm called Whole Systems Design. Through this firm, he "identifies, designs, and develops human habitats - landscape and infrastructure systems - that yield perennial abundance and enduring value. These are adaptive, resilient and secure places in a future of peak oil, climate instability, and deepening economic insolvency." They also "plan, develop, and manage land-based wealth preservation and security projects for those with the forethought to invest an abundance of present day resources to reduce their familly's vulnerability to future food, energy and other supply-chain disturbances, as well as peak-oil, climatic, economic and other events." The interview covers a variety of topics, including:
My favorite quote from the interview: "Don't fight something that's wrong. Make a new system that makes the old system obsolete." Enjoy! Joshua Links: | |||
| Friday Q and A: Resources for the Executor of an Estate, Specialization vs. Generalization, Advice for Transitioning to a Single-Income Family RPF0123 | 20 Dec 2014 | 01:13:55 | |
On Fridays, I answer your questions! I decided I didn't want to handle any of the in-depth, math-related questions today so I chose these three questions to handle.
I hope you enjoy the show! Joshua Links: | |||
| Geo-Arbitrage and Expatriation for a Better Life: Interview with James Wesley, Rawles of Survival Blog RPF0122 | 18 Dec 2014 | 00:54:03 | |
Today, we welcome Jim Rawles, Founder and Editor of SurvivalBlog.com back on the show to discuss improving your lifestyle and personal resilience by moving. We talk about optimizing your lifestyle within the United States by carefully selecting your location as well as the pros and cons of international expatriation. Topics include:
Enjoy! Joshua | |||
| Last-Minute Tax Planning Ideas To Save You Money RPF0121 | 17 Dec 2014 | 01:18:43 | |
Today on the show, I've got some last-minute tax planning ideas for you. These are all ideas and tactics that you can use in the last two weeks of 2014 to lower your income tax bill. I hope you don't defer your tax planning to the end of December. The end of the year is far too late to start talking about the really good stuff. Good tax planning should begin before January 1. But, these types of ideas can still be useful for you. It's possible that you've simply been too busy to do effective planning. It's also possible you had an unexpected windfall and you need to wipe out some tax liability. I'm here to help! :) Let's start with the easy ones and move to the harder ones:
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| Getting a Designer Education on the Cheap: Interview with Scott Young, Inventor of the MIT Challenge RPF0120 | 17 Dec 2014 | 01:10:11 | |
Is education something that we buy or something that we work for? Ever thought about that? My guest today is Scott Young. I first heard of Scott when I watched his TEDx talk on "How to Get an MIT education for $2,000." This interview is filled with tidbits that will be useful to you whether you're designing your own education or whether you're helping someone else with their educational plan. Enjoy! Joshua Links: | |||
| Building Wealth One House at a Time: Interview with John Schaub RPF0119 | 16 Dec 2014 | 01:08:51 | |
I love real estate investing. I think it's one of the most accessible, realistic ways for people to grow their long-term wealth at an excellent rate of return. Today, I'm thrilled to bring you an interview with John Schaub. John is widely renowned as one of the good guys. John has been investing in real estate for decades. He's also been teaching the subject for decades. He has a wealth of ideas and knowledge to share with us today. Enjoy! Joshua Links:
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| Friday Q and A: Cash Houses vs Mortgages, Speculative BioTech Stocks in an ESA, Physician Private Practice vs Hospital Job, Accounting for Business Deductions, Multi-Family Living, 529 Plan Qualified Expenses, Inflation Rates, Gifting Money to Kids RPF018 | 13 Dec 2014 | 01:56:54 | |
Today, we have a really fun Q&A for you! I hope you enjoy! Here are the questions I answer:
Enjoy! Joshua Links: | |||
| Transitioning From Personal Finance Blogger and Writer to Financial Advisor from a Canadian Perspective: Interview With Dan Bortolotti, the Canadian Couch Potato RPF0117 | 11 Dec 2014 | 01:16:39 | |
Today, I have a really great interview on finance from a Canadian Perspective. But make sure to listen whether you're Canadian or not. My guest is Dan Bortolotti, founder of the Canadian Couch Potato website. He has a really great story where he began as a personal finance writer and blogger and later moved into the space of being a professional financial advisor. We chat about:
Enjoy! Joshua Links: | |||
| How to Set and Achieve Your Financial Goals in 2015 and Beyond RPF0116 | 10 Dec 2014 | 01:16:08 | |
The new year is fast upon us. Even though we're in the midst of the busy holiday season, this is a convenient time to consider the success and failures of this year and look forward to plans for next year. Even though the articles you're now seeing in your feeds on "10 End-Of-The-Year Planning Ideas" can be useful, they just don't get it done because they're not focused on the core need. The fundamental key of financial planning is to understand the process. Building wealth is a process. Achieving goals is a process. It's simple and can be readily replicated if you understand it. It starts with a clear desired outcome. A.K.A. a goal. Or objective. Then, it's a matter of laying out a strategy that is likely to work. And that strategy is connected with specific action steps. And then you simply repeat the cycle over and over and over again. Enjoy the show. I hope that it's useful for you! Joshua p.s., this might be a great show to share with others. Let me know if it's helpful. Potential Journaling Prompts: Simple Goals: What are 10 goals you'd like to accomplish during 2015? What I Want list Make a list of 30 things you want to do, 30 things you want to have, and 30 things you want to be before you die. Ideal DayThink through what a perfect day would look like for you. Describe it (in writing) with as much detail as possible. Where are you, what does it look like, who are you with, what do you do, etc. Strategic Coach Questions 1. If we were meeting three years from today, what has to have happened during that three-year period for you to feel happy about your progress? (Personally, Professionally, Financially and any other category you want to think about.) 2. What are the biggest dangers you'll have to face and deal with in order to achieve that progress? 3. What are the biggest opportunities that you have that you would need to focus on and capture to achieve those things? 4. What strengths will you need to reinforce and maximize, and what skills and resources will you need to develop that you don't currently have in order to capture those opportunities? Visioning Exercise (excerpted from Jack Canfield's "Success Principles" book This is an exercise that is designed to help you clarify your vision. Although you could do this as a strictly mental exercise by just thinking about the answers and writing them down, I want to encourage you to go deeper than that. If you do, you'll get deeper answers that serve you better. Start by putting on some relaxing music and sitting quietly in a comfortable environment where you won't be disturbed. Then, close our eyes and ask your subconscious mind to give you images of what your ideal life would look like if you could have it exactly the way you want it, in each of the following categories. 1. First, focus on the financial area of your life. What is your annual income? What does your cash flow look like? How much money do you have in savings and investments? What is your total net worth? Next...what does your home look like? Where is it located? Does it have a view? What kind of yard and landscaping does it have? Is there a pool or a stable for horses? What color are the walls? What does the furniture look like? Are there paintings hanging in the rooms? What do they look like? Walk through your perfect house, filling in all of the details. At this point, don't worry about how you'll get that house. Don't sabotage yourself by saying, "I can't live in Malibu because I don't make enough money." Once you give your mind’s eye the picture, your mind will solve the “not enough money” challenge. Next visualize what kind of car you are driving and any other important possessions your finances have provided. 2. Next, visualize your ideal job or career. Where are you working? What are you doing? With whom are you working? What kind of clients or customers do you have? What is your compensation like? Is it your own business? 3. Then, focus on your free time, your recreation time. What are you doing with your family and friends in the free time you’ve created for yourself? What hobbies are you pursuing? What kinds of vacations do you take? What do you do for fun? 4. Next, what is your ideal vision of your body and your physical health? Are you free of all disease? How long do you live to? Are you open, relaxed, in an ecstatic state of bliss all day long? Are you full of vitality? Are you flexible as well as strong? Do you exercise, eat good food, and drink lots of water? 5. Then move on to your ideal vision of your relationships with your friends and family. What is your relationship with your family like? Who are your friends? What is the quality of your relationships with your friends? What do those friendships feel like? Are they loving, supportive, empowering? What kinds of things do you do together? 6. What about the personal arena of your life? Do you see yourself going back to school, getting training, attending workshops, seeking therapy for a past hurt, or growing spiritually? Do you meditate or go on spiritual retreats with your church? Do you want to learn to play and instrument or write your autobiography? Do you want to run a marathon or take an art class? Do you want to travel to other countries? 7. Finally, focus on the community you live in, the community you’ve chosen. What does it look like when it is operating perfectly? What kinds of community activities take place there? What about your charitable work? What do you do to help others and make a difference? How often do you participate in these activities? Who are you helping? You can write down your answers as you go, or you can do the whole exercise first and then open your eyes and write them down. In either case, make sure you capture everything in writing as soon as you complete the exercise. | |||
| 976: Why I Left the USA - Part 2, For Adventure | 01 Nov 2023 | 00:43:21 | |
| Helping Your Kids Develop Talent (So You Don't Have To Support Them Forever): Interview with Jonathan Harris from 10kToTalent RPF0115 | 09 Dec 2014 | 01:44:05 | |
Financial Planning is--and should be--fully integrated with every aspect of life. Often, there are non-financial ways of hitting financial goals that are more efficient than just simply "buying the solution." Helping your children develop their talent is one such area of focus. If you can launch a young man or woman with real, useful skills that have an economic value in the marketplace and which are aligned with their individual personality and interests, they will be far ahead of many of their peers. This early start can launch the magical cycle of compounding earlier which can have a lifetime impact. Consider the impact of an early start:
My guest is Jonathan Harris and he writes at the website www.10kToTalent.com. He is the father of 8 children and is a both a learner and an expert at developing talent in children. Enjoy the interview! Joshua Links:
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| Little Known History of the ER Movement: Interview with Doug "Nords" Nordman RPF0114 | 08 Dec 2014 | 01:11:57 | |
Doug Nordman is a really neat guy who has made an incredible contribution to the Early Retirement (ER) community. Known affectionately in various forums as "Nords," he contributes a rational, learned perspective on financial topics. He and his wife both retired from the US Navy. Doug was 41 and has somehow managed to stay retired for the last decade. ;) Join us today for a really neat discussion of the history of the early retirement movement and some of the contributions from its early leaders. (It's not all fun and games...we do get into some technical details on early retirement as well!) Joshua Links:
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| Friday Q and A: Professional Trustees, Tax Saving for Resident Physicians, All Stock Asset Allocations, Can I Afford to Retire, How to Find a Good Financial Advisor, Funding an ESA With Real Estate RPF0113 | 05 Dec 2014 | 01:47:57 | |
It's Friday! That means a Q&A show for you. Today, I answer all of these questions. Here are the questions and the time stamp for where each can be found in the episode. Enjoy! Joshua
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| Reasons to be Optimistic About the Present and the Future RPF0112 | 04 Dec 2014 | 00:53:48 | |
In today's world, it's easy to find reasons for pessimism. And yet, we truly live in a time of greater abundance and quality of life than ever before. Join me today as I share some reasons for being thankful and grateful to be alive today. It's a good time to be alive. Joshua Links:
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| Buying A House Debt-Free...In Your 20s! - Interview with Steve Maxwell RPF0111 | 03 Dec 2014 | 01:50:19 | |
Today we have a really fun interview with Steve Maxwell. Steve is the father of eight and his three oldest sons have all purchased their houses debt-free, in their 20s, and before marriage! His younger two sons have the same vision and are on track for a similar result. How cool is that?! Steve is an electrical engineer by training. He left his engineering job however and now spends his time writing books and traveling the country speaking and encouraging others with his ministry organization, Titus 2. Enjoy! Joshua Links: | |||
| How to Live Without A Car Even With Two Kids! Interview with Christopher DeLaney RPF0110 | 02 Dec 2014 | 01:06:30 | |
Today, I have a really great show for you with Christopher DeLaney. Christopher and his wife have two little kids and they maintain a modern lifestyle without a car! Impressive! Christopher is gentle, unassuming, knowledgeable, and very helpful! Enjoy this interview! Joshua Links: | |||
| A Comprehensive Review and Critique of "Money: Master the Game" by Tony Robbins RPF0109 | 02 Dec 2014 | 03:36:28 | |
Well, it took a few days longer than I planned because of the fact that its 600 incredibly dense pages, but today I share with you my review and critique of Tony Robbins' new book. This was a very challenging project for me and frankly, it simply bogged me down in research. It's really a great book. Highly recommened. But, it also has some things I'm not imporessed with and some minor and major flaws. The show is long and in depth and my comments are organized around these themes:
I hope you enjoy! Joshua Links: | |||
| Achieving the American Dream? Yes, It Is Still Possible! Interview with Mark and Lauren Greutman from I Am That Lady and The Simpler Happier Life Podcast RPF0108 | 24 Nov 2014 | 01:34:47 | |
In our current culture, it's easy to become discouraged and feel as though the American Dream is out of reach for the common person. Is it easier to achieve now than in the past? Is it harder? Let's leave that debate for another day. Frankly, it doesn't much matter in your individual situation. What does matter is whether it's possible to improve your circumstances and to pursue your version of happiness. My guests today are proof that the American Dream is alive and well for some people. In many ways, Mark and Lauren Greutman embody an oft-repeated scenario. Married young, four small kids, strongly middle class circumstances, mild to moderate overspending and being stuck in circumstances that felt beyond their control. And yet, a few years after their wakeup experience, they're in a very different place. Mark recently left his job in the corporate world and he and Lauren now work together in the family business. Many of the tools we talk about each day in the show were instrumental in their journey and you'll hear how they are all interwoven. Enjoy! Joshua Links:
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| A Comprehensive Guide to the Ultimate Education Account a.k.a the Coverdell Educational Savings Account RPF0106 | 20 Nov 2014 | 02:31:09 | |
Today, we take a look at one of the most misunderstood and underutilized accounts in your tax-planning aresenal. The Coverdell Education Savings Account can be incredibly useful as a tool for you to pay for:
Perhaps more importantly, there are very few things you can't use as an investment in the account. You can choose to invest in:
But what about the income limitations? Meaningless. You can circumvent them so easily they're utterly meaningless. This account is constantly criticized as being useless. Check out my discussion of the details and see if it deserves the criticism. Enjoy! Joshua Links: | |||
| Radical Immediate Retirement: Escape the Soul Crushing Horror of Your Job Right Now? What Could Happen if you Just Chucked it All and Quit? RPF0107 | 19 Nov 2014 | 01:23:28 | |
My guest today is David Downie, an attorney from Australia. David found himself stuck in the middle of his career, frustrated at life and simply decided to quit without much of a backup plan. Many adventures have ensued! Since that time, David has:
The interview is thought-provoking in every way! Enjoy! Joshua Links:
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| 975: Completely Stranded in the Caribbean for 2 Years! | 31 Oct 2023 | 00:19:17 | |
Original story: https://x.com/intrepid_p/status/1718021366329565586?s=20 Sign up for my Panama Internationalization and Investment Event! https://expatmoney.com/radical | |||
| The Benefits of Minimalism as a Financial Plan: Interview about Living Car-Free and in Tiny Houses with Tammy Strobel from Rowdy Kittens RPF0105 | 18 Nov 2014 | 01:06:37 | |
What can you do if you're feeling a bit stuck financially? Basically stuck in the rat race? Expenses about equal to income and some debt hanging on? Well, one strategy you could pursue would be to dramatically reduce your expenses by getting rid of your stuff, downsizing into a "tiny house," and getting rid of your cars. Today's guest did that! And it ultimately led to her being able to build a lifestyle of financial freedom through entrepreneurship. Tammy Strobel has a Bachelors of Arts in Economics, a Masters degree in Public Administration, and a Masters of Arts in Education. Before starting her micro-business in January of 2010, she worked in the investment management industry and in the social service sector as a peer counselor. As an entrepreneur, she sustains herself through writing, photography, and teaching. Over the last two years, hundreds of students have taken her e-courses to explore photography, writing, and what it means to make time and space for what matters. Enjoy the show! Joshua Links:
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| How to Get Money Out of Your Retirement Accounts Before 59.5 for Early Retirement RPF0104 | 17 Nov 2014 | 01:15:02 | |
I've done a number of interviews on the show with early retirees and early retiree hopefuls. One common theme is that many of them are using traditional retirement accounts but are planning to retire before 59.5. How is that possible without paying a bunch of penalty tax? Today, I share with you the answer to that question.
Enjoy the show! Joshua Links:
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