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028R | The Friday Roundup

In today’s Friday Roundup we discuss tax-deferred accounts, the Roth IRA conversion ladder, frugal wins of the week, an ‘expert answer’ from the Millionaire Educator as well as the Hot Seat with community member Chad!

Podcast Episode Summary

  • The Friday Roundup after Episode 28 where we discussed the order of operations for savings as well as the available ‘buckets’
  • Brad’s discussion of his new health targets: CrossFit and Gracie Jiu-Jitsu and how he saves money through a Gracie Garage
  • Our preference is to fill your tax-deferred buckets as much as possible
  • Message from Amy on the Facebook group on maxing out Roth IRAs
  • How the FI community thinks differently in regard to Roth IRAs and investing in general
  • Explaining the Roth IRA conversion ladder
  • Voicemail from Stephen about the Roth IRA conversion ladder and how the calculation changes when you are making income in FI
  • The essence is living a frugal lifestyle and everything else takes care of itself
  • Brad’s explanation of how to mentally approach having income in FI and even having a higher income than you anticipated
  • Frugal wins of the week: Call from Eric from our Facebook group about how he saved big on his Chicago apartment
  • The love for the InstantPot from the ChooseFI community
  • Anne Marie raised the deductible on her insurance and saved money on her premiums; Brad saved on car insurance with Geico
  • Congrats to Eli on his new baby and the newest 529 account!
  • Question from Scott about 457s and pensions to help with early retirement and the expert answer from the Millionaire Educator
  • Voicemail from SaraEllen about how to save as a solo entrepreneur in the legal profession and by extension to other professionals as well
  • How you can save on office space by using a coworking space
  • The Hot Seat with ChooseFI community member Chad
  • How people in the FI community can consider giving back
  • Favorite life hack: Using Swagbucks
  • The danger of cosigning on someone else’s loan
  • If Jonathan loans someone money he mentally writes it off as never being paid back and that’s how he approaches the decision to loan money
  • Voicemail from Eron from San Diego on financial advisors and the potential benefits
  • A fee only financial advisor would be the best option for most people (especially in the FI community)
  • Itunes reviews of the week from Conor and Mrs. FI with a Twist

Links from the show:

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