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FI Weekly – June 27, 2023: ChooseFI AI on Dexa, What I Want You to Know, 10 Essential Graphics for Every Investor

Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.

ChooseFI AI: Search the Podcast

I am incredibly excited that ChooseFI was one of a select group of ~10 podcasts chosen to be included in AI company Dexa’s initial launch and it just went live!

Head over to Dexa.ai/Choosefi and you can check out this functionality that I have long dreamed of for our show: 

All 600+ episodes of the podcast are now searchable!

The ChooseFI AI was loaded with every episode of our podcast and you can ask it any question you want and it will summarize the answer with our words. And, if you want more detail, it references the exact podcast segment(s) and takes you there so you can listen.

This is a massive breakthrough as it’s always been nearly impossible to find the various segments on topics as random and diverse as ‘college savings hacks’ to the power of compounding to the Roth IRA Conversion Ladder.

Now it’s a simple question away and I could not possibly be more excited about it!

The Dexa team is wonderful to work with, so if you have feedback or suggestions on how to make the tool more useful, hit reply and let me know and I’ll pass it along.

What I Want You to Know about the World

Levi Benkert posted 65+ pieces of advice about the world he wanted to share with his oldest son as he left for college and it is a list of wisdom I think we can all benefit from.

Some of my favorites:

  • “In everything, use this as your guide: Less but better”
  • “The arc of the moral universe is long but bends toward justice. -MLK”
  • “Anyone who stops learning is old, whether at twenty or eighty. -Henry Ford”
  • “Care less about what people think of you and more about what you think of yourself.”
  • “Humans live an average of 30,000 days – know first what you want to do with your days, then go live them.”

10 Essential Infographics for Every Investor

I found this informative thread on Twitter from Andrew Lokenauth with “10 images every investor needs to memorize.”

The title is a little hyperbolic as you don’t need to memorize this info, but I think anyone remotely interested in their personal finances should click through to that thread and take a look at these 10 infographics.

I especially found #5 to be useful explaining how an index fund works with an example of that day’s returns when some of the stocks in the fund went up and some went down.

And of course, #10 showing a $300 monthly investment compounding into over $1 million warms my heart.


ChooseFI Community Taking Action This Week

  • Ali said, “My fiancé and I are 1% better since we learned we could share one vehicle. He sold his commuter car and a van we would occasionally take camping to help pay off student loans. We now share my (our) 2017 Honda civic. We own the car, so no monthly payment, and splitting insurance, gas and maintenance costs is super affordable. Other benefits have been that we have naturally improved our communication in order to plan driving logistics, and when we commute together, we get to listen to and get inspired by ChooseFI and other FI podcasts. It has been great for our marriage prep and we love it when our friends and family look at us funny when we say we don’t want to buy another car!”
  • Kyle said, “Our 1% better this week was booking a trip to Boise, ID (our prior home) and renting a camper van to travel and hike through the mountains. This is something we have always wanted to do. We used Southwest points with the Companion Pass to get free flights and used points to book 2 nights at Hyatt while we are there. This idea wouldn’t have been possible without the book Die with Zero. And with all your financial and travel rewards tips, we are able to do this while saving 40% of our income and paying >$2000/month on our student loans.”
  • Shane said, “My 1% improvement was that I finally took the plunge and signed up to the free 5 day Salesforce Challenge that Talent Stacker offers. It’s exciting (terrifying) to think that I could start a completely different career in a few months. I’m really proud of myself for embracing the fear and going for it!”
  • Rick said, “Our 1% better is our “giving” account. My wife and I have always felt that giving is very important to a good life. But there were times that giving what we felt like we should would be difficult to accomplish because as you all say, “Life is Lumpy”. Due to this, a couple of years ago we started up a new checking account which we call our “giving” account.”
  • Jennifer said, “My 1% this week is my wife got a promotion and 10% raise at work! That money is going to help us pay off some medical debt and her car.”
  • Eric said, “My 1% better is creating a Facebook group for teachers to talk about money. I have been trying to educate teachers about finances for a couple of years, but for some reason I had been dragging my feet with creating a Facebook group. I finally just did it. Hopefully it will be a place where teachers can build community and learn from each other!”

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.
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