059R _ Challenge Yourself _ Leverage the power of the Hive Mind.wordpress

059R | Challenge Yourself | Leverage the Power of the Hive Mind

A review of Vincent Pugliese's interview, the satisfaction of DIY projects, and voicemails about financial coaching and international teaching.

Not a good time for a podcast? You can read the article inspired by this episode here.

On today’s show we cover:

  • Doing more ChooseFI Richmond meetups
  • The limiting beliefs of not wanting to learn
  • The satisfaction that comes from DIY
  • The importance of a legacy binder
  • A review of Monday’s episode
  • How Vincent is all about relationships
  • How his outlook of life completely changed with two inflection points
  • Why FI not only improves yourself but also your family
  • What living on the other side of FI looks like
  • Why the range of choices at FI keep you busy
  • The Skinny Waist Fat Wallet Challenge
  • Voicemail from Kelsa about the ChooseFi community and how she helps people with financial coaching
  • Voicemail from Nicholas and Jack about creating a partnership to buy rental properties
  • Voicemail from Rosemarie on her secret life hack as an international teacher
  • Announcements
  • Apple Podcasts review and book giveaway

Books Recommendations

Links from the show


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As Jonathan would say, “The FIRE is spreading my friends!”

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2 thoughts on “059R | Challenge Yourself | Leverage the Power of the Hive Mind”

  1. Wow, I made the Friday round-up. Surprised my youngest on the commute today.

    In partial answer to the question about vehicles (that’s crazy talk for “corporations and partnerships”) for real estate partnerships (or any kind of joint business), the usual answer is an LLC (Limited Liability Corporation) or an LLP (Limited Liability Partnership). What works best will depend on what state you are in, because the states have different rules and some tax certain entities but not others.

    Here in the Commonwealth of Virginia, an LLC is probably the easiest to deal with and can be created with the state authority with just a few clicks, actually. Here: https://www.scc.virginia.gov/

    It also tells you about getting a federal tax i.d., which takes a few more clicks. Make sure you follow all the rules.

    But the meat of your relationships between each other must be laid out in another document called the “By-laws”. Here is a template for one of those: https://startabusiness.org/va/corporation/bylaws/

    The by-laws should cover every contingency you can think of and also have a provision for amending them. You may need a lawyer if your situation is complicated. In theory, you could also form additional vehicles to manage the properties, own individual properties, etc.

    For some simple explanations about small business vehicles, I recommend this YouTube channel to which I have no affiliation but explains things in very basic terms: https://www.youtube.com/user/AidenKramerLaw

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