In today’s podcast we recap Episode 47 with Bryce and Kristy from Millennial Revolution including talk of home ownership and world travel, but a reader case study and voicemail.
Podcast Episode Summary
- A recap of our main takeaways from Episode 47 with Kristy and Bryce from Millennial Revolution
- How Brad explained the concept of compound interest to his daughter Anna and it was a lightbulb moment
- How Brad’s daughter immediately took action and invested her money in Vanguard index funds
- Brad’s moment where he found the concept of compound interest as a 19 year old
- Calling for tips on how other parents have introduced financial skills to their kids
- How your house is not a great investment and for people in the FI community it isn’t “your biggest investment”
- Your home may be a terrible investment but it doesn’t mean it’s a terrible decision
- Home appreciation seems “magical” to people but it actually represents well below the 8% return benchmark we use as a guide
- Brad’s example of a $300,000 house and the expected future value
- How Bryce and Kristy have these amazing hacks to travel for little money
- Their entire lives cost $30,000 for a full year
- Time averaging in low and high cost of living areas
- A reader case study that was sent in to Bryce and Kristy on the rental property they have that’s underwater and how they should move forward
- Voicemail from ChooseFI community member Jack on finding FI and making amazing changes up to a 58% savings rate
- How everyone can pursue FI and it isn’t limited to certain incomes, professions, etc.
- Itunes review and book giveaways
Links from the show:
