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047R | The Rule of 72

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:
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