042R -Perfect Utilization

042R | Perfect Utilization

In today's Friday Roundup we discuss Episode 42 with JW from The Green Swan, plus various discussions about community and feedback from the audience.

In Today’s Podcast we cover:

  • A discussion of Episode 42 with JW from The Green Swan
  • Scott Rieckens and his crew from the documentary Playing With FIRE were in Richmond this week filming our podcast, lives and a Richmond FI get together
  • The importance of community in the Financial Independence world and the volunteers we’ve received to be ‘community leaders’ for Choose FI meetups
  • How we’re going to setup Slack for the Choose FI community and we need someone to help organize it
  • The future Choose FI Vault that will be a digital locker for useful files for the community
  • The decision JW made to buy a business with his brothers and how unconventional that is
  • How you need to consider all possibilities when going into business with anyone
  • Brad and Jonathan didn’t have the discussion of all future possibilities and didn’t put together an operating agreement, but are now going to do so thanks to JW’s advice
  • Feedback from Lucas on the Green Swan episode about not relating to a high dollar value acquisition
  • A question from Lucas on how this differs from buying an individual stock and if they had an unfair advantage by being CPAs and MBAs
  • We all have a unique path to FI
  • You need to see how different investment and business opportunities fit into your life and with your own risk profile
  • Calculation based on getting a return of 8% versus 16% over a 15-year period
  • How hustle can be as or more important than any skills or certifications you have
  • How putting skills from various areas together will help you succeed dramatically in life
  • Different ways to improve a business from Jonathan if you’re a lifelong learner
  • Announcement of the next Camp FI in Williamsburg, Virginia in April 2018
  • “Collect skills not stuff” motto from Jonathan and how he wants to explore a “Maker space” for a community of learners
  • The sharing possibilities of having pooled resources with neighbors or communities
  • The new Mr. Money Mustache World Headquarters for people with the FI and entrepreneurial mindset
  • Buy Nothing Project and how it relates to “the alley will provide”
  • Travel Rewards update on changes to card opening options
  • Itunes reviews of the week

Links from the show:

Your Financial Resilience Toolkit

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6 thoughts on “042R | Perfect Utilization”

  1. Thank you guys for your incredible response to my comment on the Green Swan episode. I felt totally aligned with all of your responses and counters to my points and I especially now understand the how impactful a substantially higher return can impact your portfolio 15 years down the road! I felt I came off a little too harsh when you read my comment aloud, I should have been more patient to wait until the Friday Roundup to hear you guys add such good context, and of course Actionable Tips!!! I mean it. You guys nailed it on the head with everything you had to say, and especially when calling me out on some of my own limiting beliefs. After reflection, I realized i was just intimidated by the industrial business acquisition, and a lot of my original reaction was from a place of fear. I am now considering this as a viable path to wealth! And I wouldn’t have gotten there without your response to my comment, so hopefully that helps others in their journey too. I could go on and on about this, so probably time to join your Facebook group! 🙂

    As always, excited for the next episode and thanks for what you’re doing and giving to this community

  2. A partnership agreement should address: 1.Death, 2.Divorce, 3.Disability, 4. Drug Use and 5. Disinterest (per Dave Ramsey). We are post F.I. Boomers in our late 50s and I enjoy the podcast.

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