Discussion of Brad and Jonathan’s purchasing habits, messages from the ChooseFI community, benefits and drawbacks of roboadviors, and a summary of capital gains harvesting.
- Jonathan gives a review of some travel hacks on a recent trip to Chattanooga, TN.
- Capital One Venture Card allows users to redeem miles for nearly any travel cost.
- PSA: bring a copy of your child’s birth certificate if you’re traveling.
- Review of Monday’s episode with Dani and Laura, Jonathan and Brad’s wife.
- Jonathan is excited about the way Brad and Laura cut down on choices, purchases and decisions for themselves and their children.
- Brad aims to keep his life simple, particularly in regard to purchases.
- Enjoying the journey is crucial; obsessing over small purchases probably takes away from someone’s enjoyment of life.
- During your pursuit of FI, it’s important to remember your “why”.
- Laura shops for the future, by purchasing clothes, presents, etc., way before they’re necessary, often finding items for a fraction of the normal cost.
- Batch processing: blocking your time off to maximize efficiency.
- Facebook Message from Jimmy: met a friend on airplane, introduced him to ChooseFI, and that friend reduced expenses and put himself on the path to FI in less than a month.
- There are options for almost every financial position, to get yourself moving in the direction of FI.
- Jeff, on Facebook, reports that he’s paid off $105k of student loans.
- ChooseFI San Diego has a real estate meeting recently – informing people about real estate options and discussing rent vs buy, among other topics of conversation.
- ChooseFI local groups will be as good as the participants want them to be.
- Voicemail from Ryan: question about using roboadvisors?
- Fees matter: managing accounts directly saves money.
- Benefits of a roboadvisor – automated services can help with some calculations that it’s difficult to do yourself, and it sometimes make investing more accessible
- Jonathan prefers and recommends M1 Finance. Here is our full M1 Finance Review if you'd like to learn more.
- Voicemail from Bonnie: selling used items through the online Varagesale platform helps her bring in a little extra income as a stay-at-home mom.
- Voicemail from Anthony with questions about increasing your capital gains basis.
- Capital gains are typically taxes, but if you’re in a low tax bracket, long-term capital gains are not taxed.
- Previous episode about capital gains harvesting in episode 18 and 18R.
Thank you for being a part of the ChooseFI community! If you want to support us, here are some easy ways:
1) Leave an iTunes review: http://www.choosefi.com/itunes
2) Use our page to sign up for travel credit cards
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3) Most importantly, find your friends, coworkers, and family members who may be open to this message and tell them about the podcast! (Episode 21 is a great starting place)
As Jonathan would say, “The FIRE is spreading my friends!”