![3105: [Part 2] Why Is Adopting an Abundance Mindset Important by Vicki Cook and Amy Blacklock of Women Who Money](https://is1-ssl.mzstatic.com/image/thumb/Music113/v4/ed/9d/8a/ed9d8aa9-ba6f-e74c-50ec-af14a7cf68b0/source/250x250bb.jpg)
Afleveringen
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3158:
James Altucher draws a powerful parallel between winning at chess and successful investing: both hinge on consistently building tiny advantages. From choosing debt-free companies with strong cash reserves to aligning with demographic trends, he reveals how small, smart moves compound into big wins, without relying on flashy predictions or risky gambles.
Read along with the original article(s) here: https://jamesaltucher.com/blog/what-makes-some-stocks-safer/
Quotes to ponder:
"Basically, accumulate tiny advantages throughout the game."
"If a company has a lot of cash in the bank and no debt, then it’s not going to file bankruptcy anytime soon."
"The goal is to find that very unique combination of stocks that could go up quite a bit that also have a good margin of safety around them."
Episode references:
S&P Dow Jones SPIVA U.S. Scorecard 2020: https://www.spglobal.com/spdji/en/research-insights/spiva/
The Power of Now: https://www.amazon.com/Power-Now-Guide-Spiritual-Enlightenment/dp/1577314808
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3157:
Erik Carter underscores how embracing a margin of safety, a buffer against unpredictability, can transform your entire approach to financial planning, from investing and retirement to insurance and emergency savings. By preparing for less-than-ideal outcomes, you reduce financial stress and increase confidence in your long-term goals, all while building a more secure path to financial freedom.
Read along with the original article(s) here: https://www.financialfinesse.com/2013/09/05/the-3-most-important-words-in-retirement-planning/
Quotes to ponder:
"A margin of safety gives you room for error to be wrong."
"Entering numbers into a retirement calculator that are overly optimistic will produce a case of the old garbage in, garbage out."
"You also don’t want to assume an average life expectancy. After all, there’s at least a 50% chance that you’ll live past average."
Episode references:
Fidelity Retiree Health Care Cost Estimate: https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs
Stocks for the Long Run by Jeremy Siegel: https://www.amazon.com/Stocks-Long-Run-Definitive-Investment/dp/0071800514
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Episode 3156:
Lisa Harrison shares how she and her husband sidestepped lifestyle inflation to build wealth and achieve financial freedom, without sacrificing joy or connection. Through mindful home buying, curbing consumer habits, and consistently increasing their savings rate, they created a life of intentionality and long-term fulfillment.
Read along with the original article(s) here: https://madmoneymonster.com/2021/03/22/5-ways-we-avoided-lifestyle-inflation-to-reach-financial-freedom/
Quotes to ponder:
"We didn’t buy more house than we needed, although I really wanted to, and we bought the crappiest house in a nice neighborhood."
"We will go without a want before we pay for anything with a credit card that can’t be immediately paid off at the end of the month."
"Investing extra money gives us a bigger rush than spending it."
Episode references:
401(k) and 403(b) plan basics - Investopedia: https://www.investopedia.com/terms/1/401kplan.asp
The Minimalists: https://www.theminimalists.com
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3155:
Lisa Harrison shares her personal journey from a youthful splurge on a flashy car to a values-driven commitment to living within her means. Through candid storytelling and practical advice, she highlights how avoiding lifestyle inflation, especially with car purchases, became a foundational strategy in her family's path to financial freedom.
Read along with the original article(s) here: https://madmoneymonster.com/2021/03/22/5-ways-we-avoided-lifestyle-inflation-to-reach-financial-freedom/
Quotes to ponder:
"After payments, insurance, maintenance, and gas, I was left with less than half of my take-home pay for everything else."
"What mattered most was how much money you saved."
"Despite our 2012 luxury SUV, my husband and I have driven reasonable cars for the entirety of our marriage."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3154:
Andy Hill challenges the traditional notion of giving kids an allowance by linking money to effort through “Chore Money.” His approach teaches children real-world financial principles, like earning through value, saving early, and understanding limits, while also sparking entrepreneurial thinking from a young age.
Read along with the original article(s) here: https://marriagekidsandmoney.com/why-i-wont-give-my-kids-an-allowance
Quotes to ponder:
"You exist therefore you get money. That concept doesn’t work in the real world."
"If she helps with the chores, she gets paid. If she doesn't help, she doesn't get paid."
"When you’re a saver, you have options. You can more easily pursue your passions and live your life on your terms."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3153:
Sam from Financial Samurai sheds light on a growing financial vulnerability in America: nearly 30% of households have no investments beyond their primary residence. He explores how financial trauma, wage stagnation, and lack of education have led to under-diversification, urging readers to adopt a more balanced wealth-building strategy for true financial independence.
Read along with the original article(s) here: https://www.financialsamurai.com/percentage-wealth-outside-primary-residence/
Quotes to ponder:
"Roughly 30% of households have no 401k, no IRA, no after-tax investment account, no private equity investments, no venture debt investments, no nothing beyond the value of their primary residence!"
"When you’re catching your breath, you’re not looking to aggressively invest in growth stocks and other assets."
"Don’t be like most people with no wealth outside their home. Diversify your investments!"
Episode references:
Reverse Mortgage Information - Consumer Financial Protection Bureau: https://www.consumerfinance.gov/ask-cfpb/what-is-a-reverse-mortgage-en-224/
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3152:
Paula Pant shares how long-term, global travel can be surprisingly attainable, not just for the wealthy, but for anyone willing to rethink their financial priorities. By breaking down the cost of international living and comparing it to typical expenses back home, she reveals how travel can actually be more affordable than staying put.
Read along with the original article(s) here: https://affordanything.com/how-can-you-afford-to-travel-the-world/
Quotes to ponder:
"You don’t need to be rich to travel the world. You just need to spend in alignment with your values."
"The cost of travel is often less than the cost of staying in one place."
"When you travel long-term, you avoid the biggest costs: round-trip airfare and short-term lodging."
Episode references:
Lonely Planet Travel Guides: https://www.lonelyplanet.com
Numbeo Cost of Living Comparison: https://www.numbeo.com/cost-of-living/
The 4-Hour Workweek: https://www.amazon.com/4-Hour-Workweek-Escape-Live-Anywhere/dp/0307465357
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3151:
Stephen Popick unpacks the often-misunderstood concept of the time value of money, showing why recurring expenses like cable TV aren’t as costly in today’s dollars as they appear over decades. By factoring in inflation, investment returns, and personal opportunity costs, he makes a compelling case for thoughtful financial planning that balances present needs with future goals.
Read along with the original article(s) here: https://www.getrichslowly.org/the-time-value-of-money-or-why-25-years-of-cable-tv-doesnt-cost-as-much-as-you-think/
Quotes to ponder:
"The time value of money is a complex term for a simple concept: Any given amount of money is worth more today than the same amount in the future."
"Your personal time value of money is very tough to measure on a personal level."
"Would I rather have $30,000 today or cable television for the next 25 years? There’s no one right answer."
Episode references:
Good Debt, Bad Debt: https://www.amazon.com/Good-Debt-Bad-Invest-Smarter/dp/1591840260
The Automatic Millionaire: https://www.amazon.com/Automatic-Millionaire-Powerful-Immediately/dp/0767923820
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3150:
Julien Saunders shares four hard-earned insights from preparing his second rental property, revealing how time, cash, and strategy shape success in real estate investing. Whether you're considering buying rental properties or just want smarter ways to manage money and stress, his practical lessons offer value beyond property lines.
Read along with the original article(s) here: https://richandregular.com/4-lessons-learned-from-our-2nd-rental-property/
Quotes to ponder:
"Cash is their preferred form of payment. As a result, when the work really matters to us, we’re sure to lead with that so they are more motivated to do a good job on the project."
"I am so grateful to have found the courage to quit my job a few months ago because otherwise, I wouldn’t have had the time to deal with some of the issues that popped up."
"Just like your primary home, it’s never a matter of if, but WHEN something needs to be repaired or replaced."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3149:
Brian Tracy breaks down the five core reasons most people fail to achieve financial independence, from never realizing wealth is possible for them to lacking long-term perspective. He explains how procrastination, poor financial habits, and indecisiveness prevent many from building real wealth, offering actionable mindset shifts for anyone ready to break the cycle.
Read along with the original article(s) here: https://www.briantracy.com/blog/general/5-reasons-why-most-dont-become-wealthy/
Quotes to ponder:
"If it never occurs to them, then they never take any of the steps necessary to make it a reality."
"The primary reason for underachievement and failure is that the great majority of people don’t decide to be successful."
"If you cannot delay gratification, and discipline yourself to refrain from spending everything you make, you cannot become wealthy."
Episode references:
The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3148:
Kumiko Love shares a strategic guide to making the most of an extra paycheck - a financial opportunity that comes just a few times a year for bi-weekly earners. By prioritizing intentionality over impulse, she outlines how to align this bonus income with your money goals, whether it’s crushing debt, boosting savings, or planning guilt-free fun.
Read along with the original article(s) here: https://www.thebudgetmom.com/what-to-do-with-that-third-paycheck/
Quotes to ponder:
"That third paycheck is not free money. It’s your money - and your plan for it matters."
"You don’t have to spend every dime to enjoy your life."
"Decide what’s most important to you and make a plan before the money hits your account."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3147:
Mr. Money Mustache explains how developing a “ChaCHING!” instinct, feeling rewarded by not spending money, can radically shift your financial trajectory and mindset. By training yourself to see each avoided purchase as a small win, you increase both your wealth and your freedom without relying on deprivation or strict budgets.
Read along with the original article(s) here: https://www.mrmoneymustache.com/2013/06/04/get-rich-with-the-chaching-instinct/
Quotes to ponder:
"I just avoided a purchase, and I am richer because of it. Cha-CHING!!"
"Every time you don’t spend unnecessary money, you have won a little game."
"Your safety margin and independence in life just grew a little bit, and the entire rest of your life will now be better because of it."
Episode references:
The Marshmallow Test: https://en.wikipedia.org/wiki/Stanford_marshmallow_experiment
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3146:
Steve Kamb delivers a powerful reminder that action beats inaction every time, even if that action isn’t perfect. By showing how small, messy steps forward can overcome analysis paralysis and build momentum, he makes a compelling case for trading perfectionism for progress.
Read along with the original article(s) here: https://www.nerdfitness.com/blog/do-something-do-anything/
Quotes to ponder:
"Doing something, anything, is almost always better than doing nothing."
"The path you walk will never be perfectly paved, and that’s okay."
"You can’t improve a blank page."
Episode references:
The 5 Second Rule by Mel Robbins: https://www.amazon.com/5-Second-Rule-Transform-Confidence-Everyday/dp/1682612384
The War of Art: https://www.amazon.com/War-Art-Steven-Pressfield/dp/1936891026
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Episode 3145:
Jen Hayes reflects on how student loan debt, while burdensome, became a catalyst for personal growth, minimalism, and financial transformation. Her story challenges conventional thinking about debt, offering a powerful perspective shift that turns regret into gratitude.
Read along with the original article(s) here: https://www.jenhayes.me//why-im-grateful-for-my-student-loan-debt/
Quotes to ponder:
"I now realize how empty and unfulfilling a materialistic life is."
"I’ve learned my lesson about debt, and I will make better financial choices in the future."
"If it weren’t for my student loans, I probably never would’ve started this blog."
Episode references:
Georgetown University college cost analysis: https://cew.georgetown.edu/cew-reports/the-college-payoff/
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3144:
Robert Farrington unpacks how personal accountability is the ultimate driver of financial success, highlighting that it's not just about numbers, it's about owning every financial decision and its consequences. By outlining five progressive levels of accountability, he offers a roadmap to build lasting habits that lead to financial clarity, control, and long-term stability.
Read along with the original article(s) here: https://thecollegeinvestor.com/6521/single-important-trait-defines-personal-finance-success/
Quotes to ponder:
"Accountable people don't have excuses. They have solutions."
"Without full knowledge of what you have and what you spend, you cannot make sound financial decisions."
"Every action has a consequence, but to be accountable, you need to realize the biggest consequence of all."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3143:
ESI breaks down the path to financial independence using a simple scale to evaluate your earning, saving, and investing skills, from disaster to excellent. He argues that success in one area can't compensate for failure in another, and that most people should aim for excellence in earning or saving, since investing is rarely a true strong suit. His insights reveal how balanced, realistic self-assessment can accelerate your journey to FI.
Read along with the original article(s) here: https://esimoney.com/working-esi-scale-financial-independence/
Quotes to ponder:
"There are almost as many ways to hit FI as there are moves in a chess match."
"To reach FI at any reasonable age, you need to be at least neutral on all of them."
"I don’t think anyone is excellent at investing. I think 'good' is about all most of us can strive for realistically."
Episode references:
The Bogleheads’ Guide to Investing: https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3142:
Jaime of KeepThrifty challenges the conventional pursuit of early retirement by unpacking the emotional and physical burnout that can come with chasing FIRE (Financial Independence, Retire Early). Rather than idolizing the hustle or rigid savings goals, Jaime encourages a return to values-driven living, where balance, intention, and fulfillment matter more than arbitrary financial milestones.
Read along with the original article(s) here: https://www.keepthrifty.com/dont-get-burned-by-FIRE/
Quotes to ponder:
"It was never about the money, it was about living by his values."
"The more we worked, the more we made, the sooner we could retire. But as time went on, we found ourselves burning out again."
"What if we didn’t focus on early retirement, but on living a fulfilling life now and in the future?"
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3141:
Craig Stephens reflects on the transformative power of parenthood, showing how it can awaken a deeper sense of purpose and drive to improve upon the life paths laid by previous generations. By redefining what a "better life" truly means, beyond wealth or early retirement, he encourages us to live with intention, model lasting values for our children, and pursue personal growth over generational comparison.
Quotes to ponder:
"To honor their sacrifices, we’re compelled to pursue the life our parents dreamed for us."
"Living a meaningful life is about personal progress, happiness, and having a positive impact on your community and the people you meet."
"Strive to be the person you want your child to become, teach by example and never stop improving upon the person you were yesterday."
Episode references:
Enlightenment Now: https://www.amazon.com/Enlightenment-Now-Science-Humanism-Progress/dp/0525427570
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3140:
J. Money invites readers to transform everyday spending into acts of conscious support by reframing expenses as contributions to the people, businesses, and causes we value. This mindset shift turns ordinary transactions into opportunities for connection, empowerment, and gratitude, making each dollar feel more intentional and meaningful.
Read along with the original article(s) here: https://www.budgetsaresexy.com/supporting-vs-spending-money/
Quotes to ponder:
"To them, it wasn’t about the 'cost', but more about the love of the hobby and wanting to support it however they can."
"It’s spending, but it’s also very much supporting."
"Think about everyone you’re supporting with each transaction you make, and see if it changes anything."
Episode references:
516 Project: https://516project.org
The Sundara Fund: https://www.sundarafund.org
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3139:
Vitaliy Katsenelson argues that obsessively monitoring your portfolio can lead to emotional decision-making and worse investment outcomes. Instead, he urges investors to zoom out, think long term, and treat investing more like watching paint dry, boring, but ultimately rewarding.
Read along with the original article(s) here: https://contrarianedge.com/want-to-be-a-better-investor-stop-staring-at-your-portfolio/
Quotes to ponder:
"Most of the mistakes I’ve made as an investor happened when I got too close to the action."
"Stocks are not pieces of paper that wiggle up and down on a computer screen. They are partial ownerships of businesses."
"Watching your portfolio too closely is like watching paint dry, it makes time slow down and tempts you to act when you shouldn’t."
Episode references:
Fooled by Randomness: https://www.amazon.com/Fooled-Randomness-Hidden-Chance-Markets/dp/0812975219
Meditations: https://www.amazon.com/Meditations-New-Translation-Marcus-Aurelius/dp/0812968255
The Intelligent Investor: https://www.amazon.com/Intelligent-Investor-Definitive-Value-Investing/dp/0060555661
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