039R | Cruise Control

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Friday Roundup 039R -Cruise Control

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ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

Looking for the best credit card to start earning travel rewards points? The Chase Sapphire Preferred is our pick. With a 50,000 point signup bonus (after spending $4,000 in the first 3 months), the $95 annual fee waived the first year, and ultra-flexible points (transfers to 13 airlines & hotels!), this is our top choice!

In today's podcast we discuss Episode 39 with Gwen from Fiery Millennials, plus a ‘Cruise Control Path to FI' case study example and voicemails from our community members.


In Today’s Podcast we cover:

  • The Friday Roundup after Episode 39 with Gwen from Fiery Millennials
  • A whole new FI world for Brad and Laura after their youngest daughter went to kindergarten
  • They have the opportunity to live more of a FI lifestyle and have to now figure out what that looks like
  • Second Generation FI and examples of Brad’s kids exhibiting their behaviors
  • ChooseFI is an opportunity for Brad and Jonathan to share these stories with their kids and also document their FI paths
  • Gwen’s lightbulb moment she had during college and how that changed her trajectory
  • How intelligent Gwen was with her college decision and pursuing a full scholarship
  • Brad should have focused his own college search on places where he could have gotten a full merit scholarship
  • The concept of the ‘cruise control path to FI’
  • Second Generation FI Case study example of how savings would work maxing out their 401k from 22 to 32
  • The value of compounding over decades
  • The importance of starting to save early and the concept of time as a Pillar of FI
  • The ability to put money into your kid’s Roth IRAs even if they are under 18. We need to do more research on this to document what’s allowed
  • Example of putting $5,500 into a Roth IRA for a five year stretch from 13 to 18 and what it would be worth at age 60
  • Jonathan’s example of contributing to a 401k from 32 to 60
  • You have to get started and take action today, even if you’ve made the “wrong” decisions in the past
  • Gwen’s desire to build up the FI community is incredibly impressive
  • Announcement of the last three finalists for the PopUp Business School competition with Alan Donegan
  • Voicemails from the three finalists
  • Voicemail from Justin about the career path of an air traffic controller as a path to FI making significant money without a college degree
  • Itunes book giveaways

Links from the show:

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2 thoughts on “039R | Cruise Control

  1. My favorite episode so far! I would love to hear more about setting up a business in order for my kids (14, 10, and 6) to work and fund a ROTH. I have been looking for the best way for them (especially my 14 year old) to start investing right now.

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