How FIRE Is Different Today–Lessons From My FI Journey

My earliest memory of investing occurred when I was about six or seven years old. I was looking at a statement from a mutual fund (this was circa 1967 mind you). My dad talked to me about what the numbers meant and how there was an account for me. What stuck out for me were the four digits to the right of the decimal point. How do they figure out … Read more

067 | Raptitude And Free To Pursue

067 _ Venn Diagram of FI

David and Helene talk about consumerism, getting out of one’s comfort zone and the importance of simplicity. What you’ll hear on today’s show: Discussion with David and Helene How consumerism makes us buy more Controlling impulses How Helene constantly gets out of her comfort zone Mental hacks for self control Hedonic adaptation Complexity vs simplicity David’s thoughts after blogging for 9 years The importance of focusing on what lights you … Read more

How To Plan Your Itemized Deductions

How To Plan Your Itemized Deductions

By grouping two years of itemized deductions into one year, it may be possible to get the benefits of both itemized deductions and the standard deduction. If you can time when you pay deductible expenses, you can take advantage of that flexibility to bunch your deductions in one year and then claim the standard deduction in the next. Since the increased standard deduction it can be difficult for many taxpayers … Read more

066R | Letting Go of the Emergency Fund

066R _ Letting go of the emergency fund

Understanding emergency funds, investing in your house and some college and library hacks. What you’ll hear on today’s show: Review of Monday’s episode Different scenarios for using emergency funds Where to put your emergency fund Consumers Credit Union rewards checking paying 3.09% on a balance up to $10,000, at the time of this recording. You can earn up to 4.59% depending on balance and credit card usage also. CIT Bank also offers … Read more

How I Lost 77 lbs, And How You Can Too

I’m like you, I work hard to provide for my family and, like most people, I let myself go at the same time. I work long hours and struggle to find the time for myself or for exercise. I’ve often relied on fast food, quick meals, and leftovers which quickly add up to tight pants. And my pants were very tight indeed. But I’ve changed all that, and you can … Read more

How I Learned To Stop Worrying And Love The Index

How I learned to stop worrying and love the index

It’s been reported that only one in three Millennials own any stock. For many, this is due to low income and high debt. This makes it tough to even have the money to invest. However, I also think that many of us have just grown up with a lack of understanding in how investing even works. Combine that with a mistrust of the market, based on the dot-com bust and … Read more

What My Parents Taught Me About FI

My parents never taught me about investing. They taught me how to save money and curb expenses, but they never had a huge savings pile or invested money. I feel that my FIRE path has been hindered from a lack of investing knowledge until later in life. Imagine if I started a Roth IRA when I was working part time at age 17 with almost no expenses! Instead my money … Read more

How Will The Trump Tax Plan Affect Investors?

The ink is barely dry on the Trump Tax Plan, more formally known as the Tax Cuts and Jobs Act (TCJA), and taxpayers are beginning to fret about its impact. Most people are at least vaguely aware that the plan lowers most marginal tax rates, increases some deductions, but lowers or eliminates others. But how will the Trump tax plan affect investors? At this point, many of the details of … Read more

066 | The Emergency Fund…Is it a Bad Idea? | Big ERN The Reveal

The Emergency Fund - ChooseFI

Big Ern reveals his identity, explains the different anxieties of retiring early and the opportunity costs of having an emergency fund. What you’ll hear in today’s show: Big Ern’s background story Why he’s revealing his identity Why he decided to be anonymous in the first place How much his blog has to do with his job The different anxieties he’s been through The risk of retiring at the peak of … Read more

The Failing 403(b) Was My Wake-Up Call

The Failing 403(b) Was My Wake-Up Call

Have you ever been so eager to get, do, or have something that you couldn’t see its failings? We’ve all been there, at some point in our lives, wearing those rose-colored glasses. Many times we’re not fully to blame, and sometimes we are. Massive marketing makes it easy to see only the roses, while the reality is vastly different. Join me as I shed light on my failing 403(b). The … Read more