The essential steps to a FI mindset, travel rewards updates from Brad, voicemails from the community, and highlights from Monday’s episode with Jillian from Montana Money Matters.
- Brad’s 15-year-old Honda might breakdown soon. How much should he be willing to spend on repairs?
- How much does depreciation impact specific cars, and how much should that weigh into Brad’s decision?
- Review of Monday’s episode with Jillian from Montana Money Matters. Discipline equals freedom.
- How can we train ourselves to withstand fear?
- What was Jillian’s strategy for creating the life she wanted?
- Chad, from Facebook, was excited by how relevant and relatable Jillian’s story is, even for people with vastly different life circumstances.
- Voicemail from Tay, who is hoping to find a step-by-step guide to getting from zero to FI.
- Mindset recommendations from Jonathan:
- Exposure yourself to the right information – podcasts, books, articles, etc.
- Practice a growth mindset – be willing to make changes.
- Accept and celebrate marginal gains, as they compile.
- Nuts and bolts recommendations
- Evaluate your current financial landscape – what’s going in and out?
- Which scenario describes you?
- Are you in debt?
- Do you live paycheck to paycheck?
- Is your income higher than necessary, but not achieving your goals?
- What you earn – what you earn = The Gap
- Increasing “The Gap” comes from optimization.
- Getting to a 50% savings rate is a different scenario for every person.
- Finding ways to create passive income through real estate, side hustles or investments.
- Maxing out your retirement accounts decreases your taxable income.
- Message from Carrie, is looking forward to minimizing.
- Voicemail from Jason, hoping for an update on travel rewards.
- Chase Sapphire rewards have decrease the rate at which you can get rewards
- Brad still recommends as the best travel rewards
- 1st choice: Chase Sapphire Preferred
- 2nd choice: Chase Sapphire Reserve
- Chase Ink Business cards are a great choice for someone with a business.
- Generally, best use is to transfer points to an airline partner for airline miles.
- Starwood Preferred Guest program is end on Aug. 1, 2018
- Barclaycard Arrival Plus just returned as a fixed-value, personal card.
- Voicemail from Tyler, suggesting that doesn’t have to be an expensive hobby, and talking through his method for optimizing his golf hobby.
