Name Your Fear, Control Your Risk | Ep 382

June 20, 2022
Jonathan Mendonsa

Topics in this episode: housing, mortgages, renting, interest rates, crypto, and unique current events in these financial times.

It seems like we are currently living in some of the most interesting financial times ever to have occurred. Cryptocurrencies are seemingly disappearing overnight, interest rates are shooting up, and the inflation rate continues to climb. While all of these examples can cause one to be fearful, preparation and attention to detail are two traits that allow those in the FI community to stay calm. Identify your fears, control situations where you are taking on risks, and continue crushing your journey down the path to FI!

Timestamps

0:58 – Introduction
2:01 – The Tail End
5:58 – The Most Interesting Financial Times
13:26 – Housing
18:22 – Conversation With A Friend
26:06 – Components of The Monthly Payment
34:40 – 40 Year Mortgage and Renting
45:20 – 10% Intrest Rates
53:05 – Crypto Sidecar
57:15 – Crypto Security
61:39 – Conclusion

Resources Mentioned In Today’s Conversation

If You Want To Support ChooseFI:

Earn $1,000 in cashback with ChooseFI’s 3-card credit card strategy
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Track your personal finances with Personal Capital
Compare, buy, and save big on insurance with Policygenius
Keep learning or start a new side hustle with one of our educational courses
Slash your cellphone bill without sacrificing service with Mint Mobile

Subscribe To The FI Weekly

Action, accountability, inspiration, and community. Join the movement. Get started on your Path to FI

More To Explore

Life Optimization

FI Frugal Hobbies | Chris Terrell | Ep 429

Whether you’re years into your FI journey or just beginning, evaluating your finances and spending, you may feel like you have to make some cuts into your favorite hobbies in order to reach your goal quicker. However, deprivation and cutting out the things that bring enjoyment into your life should never be the only option. This week we are joined by friend of the podcast Chris Terell to talk frugal hobbies, new experiences, and the parallels between strategies in board games and the strategies employed while on the journey to FI. While trying to optimize your experiences may mean changing hobbies and evolving, while doing so you may find new enjoyment, new communities, and values that come with these changes. Not everyone may have the same approach to a game, just as not everyone will have the same approach to achieving FI, but as long as you remember that being open to changes will allow you to not only optimize your experiences on that journey but optimize your FI.

Life Optimization

Fees, Frugality, and 401K Fears | Ep 428

On what is considered a very personal journey, how do you handle changes that feel like setbacks? Whether its spending more when you feel you should be saving, or re-evaluating goals based on what needs immediate attention, do you feel equipped to handle it with confidence? This week we are having a weekly roundup, and are re-joined by Ginger to not only answer listener’s questions, but discuss travel rewards, retirement accounts, and breaking away from the ultra frugal caricature often depicted alongside FI. While saving is an important factor on this journey, the main purpose of FI is to learn and live your life with intention as it relates to your money, goals, and values. Remember that it’s okay if some of your goals and values will change along the way! Allowing yourself to be flexible as it relates to external factors, like market volatility and your investments, will give you more power and control to continue ahead with confidence and optimism!