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025R | Friday Roundup | Paul Case Study Part 4

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:

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