In today’s Friday Roundup we discuss Episode 25 with Keith from the Wealthy Accountant, Part 4 of the case study with Paul including a look at his line-by-line expenses, plus questions and feedback from the audience.
Podcast Episode Summary
- Friday Roundup after Episode 25 with Keith from The Wealthy Accountant
- The firehose of information that Keith unleashed was incredible!
- Feedback from the audience about Keith’s episode
- The value of an S-corp election for small businesses
- How to find a top tier accountant with passion for helping you
- When should you form an LLC when starting a side business and are there any benefits of doing so?
- Danielle’s feedback about our working of “taxable savings.” She used “post-tax savings” which we really like
- Dominic’s feedback about reinvesting dividends
- Careers that help you get to FI: Nursing and feedback from the audience on why this is such a positive career on the path to Financial Independence
- Announcing the ChooseFI private facebook group!
- Discussion of Camp Mustache
- Brad’s FI conversation in real life with his friend Justin about $2 per person per meal for dinners
- How to portion out dinners to save money
- Laura is going to share her recipes in the new private Facebook group
- Frugal wins of the week from Jake and Brad
- Mark Resnick from Student Loan Freedom: Voicemail with a hack on saving money on student loans
- Discussion of Mark’s voicemail and our request to get one audience member to work with Mark on student loan forgiveness programs
- Voicemail from Bryce on hacking college
- How Brad and Jonathan wish they had the knowledge Bryce passed along when they went to college
- How to start planning early to apply for these scholarships
- Case study update: Going through Paul’s expenses and analyzing them. What does his post-FI expenses look like?
- Paul’s expenses drop significantly in his post-FI life
- $23,000 of his $73,000 annual expenses were on vacations and this can drop significantly in a post-FI life by using travel rewards points and pursuing slow travel
- Looking at Paul’s actual expenses and what else is “fluff” on top
- Our update on future case studies: We can’t do these once per month. More likely 3-5 per year.
- Jason from Winning Williams is putting together a ‘crowdsourced FI plan’ excel sheet
- Travel rewards question on how to save on cruises. You can use a ‘fixed value’ card to offset cruise expense
- Itunes reviews of the week and book giveaway
Links from the show:
- Wealthy Accountant
- Dominic’s link from Bogleheads on reinvesting dividends
- ChooseFI.com/Facebook to get access to our private Facebook group
- Winning Williams
- Money Metagame
- Seonwoo’s site: FIby40.com
- FI180
- Popup Business School
- Dash Go Rapid Egg Cooker
- Student Loan Freedom
