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1% Better: Life Insurance Comparison Pursuing FI is all about taking small actions that, when compounded, add up to big results. This past month I’ve received (and shared here in the FI Weekly) a bunch of success stories of people who got insurance quotes that saved them hundreds of dollars a year on either their auto, home, or life insurance policies. We had Jennifer Fitzgerald, the Co-Founder and CEO of Policygenius, on the show on Episode 132R to walk us through a framework for what types of insurance we need in different stages of our lives. Since then, we’ve come

Quote I’m Pondering My brother sent me this quote from the book “Doesn’t Hurt to Ask: Using the Power of Questions to Communicate, Connect, and Persuade” by Trey Gowdy, which I submit to you for reflection in these tumultuous times:  “The world will be a quieter, less hostile place if we replace the desire to shout with the desire to be heard, if we replace the desire to win the argument with the desire to move the person who wants to argue, and if we reserve for ourselves some of the toughest questions we can conjure up.” Ask questions and

Mental Models: FI Math A few weeks ago, I talked about the importance of mental models to leveling up our problem-solving abilities. I came across an article in the Washington Post yesterday that happened to be about the UK coronavirus variant and its increased reproduction rate and I thought it was a perfect example for the FI Weekly. My bringing this up here isn’t necessarily about coronavirus, but the increased level of understanding we all have when we understand exponential math, the math behind the compound growth of our money, and mental models generally. The article noted that in a Facebook post,

FI Wisdom – Berkshire Hathaway Edition I came across quotes from two of my heroes, Warren Buffett and Charlie Munger from Berkshire Hathaway, that I think do an incredible job of encapsulating the two aspects of the journey to FI:  Warren Buffett: “Do not save what is left after spending; instead spend what is left after saving.”  Charlie Munger: “There were a lot of questions today — people trying to figure out what the secret to life is, to a long and happy life…The secret is easy, because it’s so simple:  You don’t have a lot of envy.  You don’t have a

Favorite Books List I was blown away by the response to last week’s newsletter asking you to send me the best book you’ve read in the past year. I can’t thank you all enough for the overwhelming response!  I’m still digging out from the deluge of emails and hope to publish a much longer list of recommended books in the future, but in the meantime, here are the books mentioned most frequently:  Atomic Habits by James Clear (guest on Episode 157 of ChooseFI)  The Psychology of Money by Morgan Housel  The Wealthy Gardener by John Soforic  Can’t Hurt Me by David Goggins  Die with Zero by

2021 is Here: Start Contributing Happy New Year!  Now’s the time to take action on filling up your 2021 contributions to your accounts including HSA, IRA, 401k, 403b, 457, etc.  Thanks to my trusty ToDoIst reminder to max out my HSA, we already contributed the family maximum of $7,200 for 2021.  (as an aside, I was recently asked for HSA company recommendations and the two we see recommended most frequently are Fidelity and Lively for low or no-fee options.)  Here’s an article from The Motley Fool discussing the 2021 limits, but in general terms, for workers under 50, they are as follows:  401k: $19,500 employee contribution 

​ 1% Better: It’s Always a Choice Brian Eufinger, 2-time podcast guest (episodes 114 and 154 on college scholarships and student aid) and co-founder of SAT & ACT prep company Edison Prep, emailed me an amazing YouTube video called “The Choice” and I’d highly recommend you take 4 minutes and watch it.  This animated video is the perfect representation of the compounding benefits of making better choices in your life, from listening to an audiobook instead of the cortisol-inducing news, to going to the gym instead of just sitting on the couch and watching Netflix.  “Small choices become actions, actions become

​ End of Year Review and Planning for 2021 We are finally nearing the end of 2020 (insert your favorite exclamation/expletive here)! This has been such an unusual year in so many ways and it’s critical to get everything in order financially and mentally before the end of the year and have a plan to move forward into 2021 with some momentum to get after your goals. Here are some resources I think will help: For the first time in my life, I’m truly conducting an annual review and setting goals for the upcoming year. Stephen from our Foundation’s free FI

​ Mental Models for Clearer Thinking Financial Independence is about so much more than the nuts and bolts of money. It’s about building an empowering mindset that helps you thrive no matter what the world throws at you.  And 2020 has sure thrown a lot at us.  One of the best ways to be prepared mentally is to upgrade your mental toolbox, so you can work through problems clearly and rationally, even when faced with something new and unexpected.  I was first introduced to the concept of ‘mental models’ in Charlie Munger’s “Poor Charlie’s Almanack,” and it has formed the

Live ‘Year End Wins’ Event Tonight Jonathan and I are hosting a Facebook Live event tonight (12/8) at 7:30 pm EST and we’d love for you to join us! We’ll be chatting with 20+ community members sharing their 2020 wins with the ChooseFI community. This will be inspirational and a great way to encourage us all as we move into 2021. Join the Live Event ChooseFI: Friends of the Library In response to my “free events in your town” section last week, Jami wrote in: “Hi Brad – regarding the low-cost and free family entertainment options, also inquire at your local library.

Free Events in Your Town/City On one of our earliest episodes, Liz from Frugalwoods.com taught us something that might be counterintuitive: Entertainment in a city can be incredibly inexpensive. Free in many cases. There are many cultural events, museum exhibits, and university offerings (among many others) that are completely free – if you just take the time to look for them. My family loves outdoor activities and we learned that The Valentine museum offers free “self-guided Richmond history tours” complete with pdf walking guides and maps. 2 of the past 3 weekends we’ve set out, maps in hand, and explored

The Subtle Art of Saying No A friend introduced me to the Harvard Business Review’s IdeaCast podcast this week and said their episode entitled, “The Fundamental Human Relationship with Work” was the anthropological case for Financial Independence, which was fascinating.  This quote from “The Subtle Art of Saying No” episode really impacted me:  “Every bad ‘Yes’ crowds out a much better ‘Yes,’ just as every well-reasoned, well-timed ‘No’ makes room for a better ‘Yes.’  You say yes because in the moment you want to please…that’s a bad yes.”  It’s so easy to say “Yes” or even “Maybe” when you know the