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 3055:
Steven Keys challenges conventional wisdom, highlighting how herd mentality can lead to poor choices in finance, lifestyle, and beyond. By seeking out unconventional perspectives, prioritizing logic, and boldly carving your own path, you can break free from societal norms and create a life that truly fits you.
Read along with the original article(s) here: https://www.tripofalifestyle.com/perspective/everyone-else-could-be-wrong/
Quotes to ponder:
"You really shouldn’t go along with anyone, majority or minority, blindly."
"Even if you ask more people or find more resources, you’ll have a psychological tendency to ignore the outliers, even when they’re actually correct."
"When you open yourself up to the possibility of thinking differently from everyone else, you set yourself free."
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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 3054:
Barney of TheEscapeArtist.me explains how to calculate your runway, why an emergency fund is essential, and how financial independence shifts your options and decision-making. More runway means more freedom, but the benefits plateau after a certain point, making it crucial to define what "enough" means for you.
Read along with the original article(s) here: https://theescapeartist.me/2021/10/19/the-more-runway-you-have-the-safer-you-are/
Quotes to ponder:
"The moral of this story is that the more runway you have, the safer you are."
"You need to have a margin of safety in your life. Some redundancy in your personal finances in case of redundancy in your career."
"It is HUGE to go from having no runway to having the ability to take a year off. But just going from 25x to 26x shouldn’t really change your life much."
Episode references:
The Psychology of Money by Morgan Housel: https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
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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 3053:
Traditional savings accounts might be holding you back. Tiffany "The Budgetnista" Aliche highlights the power of online-only savings accounts, explaining how they offer higher interest rates, fewer fees, and better financial discipline by keeping your savings out of easy reach. Learn how to set one up and maximize your money with smart, simple strategies.
Read along with the original article(s) here: https://thebudgetnista.com/the-power-of-an-online-only-savings-account/
Quotes to ponder:
"An online-only savings account is like a financial gym - it helps strengthen your saving muscles by keeping your money separate from your daily spending."
"When your savings account is harder to access, you're less likely to dip into it for impulse purchases."
"Online banks often offer interest rates that are 10 to 20 times higher than traditional banks. That means your money grows faster - without any extra effort."
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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 3052:
JL Collins breaks down how to shift your mindset from short-term price fluctuations to long-term ownership, using VTSAX as a prime example of investing in the entire U.S. economy. Learn why patience, resilience, and a buy-and-hold strategy can lead to financial security over time.
Read along with the original article(s) here: https://jlcollinsnh.com/2013/06/14/stocks-part-ixx-how-to-think-about-money/
Quotes to ponder:
"You can’t successfully dance in and out of the Market."
"As long as the company is sound, the fluctuations in its stock price are fairly inconsequential."
"Nothing is sure, but I can’t think of a surer bet than this."
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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 3051:
JL Collins breaks down the mindset shift needed to stop thinking about what money can buy and start focusing on what it can earn. By understanding opportunity cost and the power of compounding, you can make choices that lead to long-term prosperity rather than fleeting riches.
Read along with the original article(s) here: https://jlcollinsnh.com/2013/06/14/stocks-part-ixx-how-to-think-about-money/
Quotes to ponder:
“It’s not hard. Stop thinking about what your money can buy. Start thinking about what your money can earn. And what the money it earns can earn.”
“You have probably heard of The Magic of Compounding. As your savings grow, you earn interest on a bigger and bigger pool of money.”
“One of the beauties of being financially independent is that by definition you will have enough money so that the power of Compounding is greater than the Opportunity Cost of what you spend.”
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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 3050:
Nia Shanks emphasizes the importance of finding an approach to training and eating that works for you rather than forcing a method that causes stress or doesn’t align with your preferences. Whether it’s strength training, intermittent fasting, or another nutrition plan, success comes from experimentation and personalization, not rigid adherence to popular advice.
Read along with the original article(s) here: https://www.niashanks.com/reason-not-getting-results-what-to-do/
Quotes to ponder:
"You don’t have to do what’s popular or what other experts swear by if that method doesn’t fit your lifestyle and personality."
"Bottom line with nutrition is don’t be afraid to experiment and discover what works for you."
"Bottom line, if a particular method doesn’t fit your personality or mesh with your lifestyle, then don’t force it."
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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 3049:
Changing jobs for a higher salary can be tempting, but Philip Taylor argues that money alone shouldn’t be the deciding factor. Job satisfaction, stability, and lifestyle impact are key considerations, as frequent job-hopping can lead to long-term dissatisfaction. While salary surveys can help determine fair pay, sometimes staying put and building career capital offers more benefits than chasing a bigger paycheck.
Read along with the original article(s) here: https://ptmoney.com/changing-jobs-for-more-money-is-it-worth-it/
Quotes to ponder:
"You absolutely hate what you do; if you don’t, you’re likely to be miserable and just go about the motions because you need the money."
"When you change jobs just for the money, there’s no end to it; you tend to keep job-hopping all your life, flitting like a bee from flower to flower without really gathering anything of substance."
"All things being equal, you need to get the best salary that the market will pay."
Episode references:
PayScale Salary Survey: https://www.payscale.com/
Salary.com: https://www.salary.com/
Money.com Best Places to Live: https://money.com/best-places-to-live/
So Good They Can’t Ignore You: https://www.amazon.com/So-Good-They-Cant-Ignore/dp/1455509124
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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 3048:
Jacob Lund Fisker dissects common spending habits, from frequent furniture replacements to excessive transportation costs, revealing how consumerism encourages unnecessary expenses that make financial freedom seem out of reach. By plugging these financial leaks, it's possible to live comfortably on far less while enjoying a higher quality of life.
Read along with the original article(s) here: http://earlyretirementextreme.com/your-budget-is-like-sinking-ship.html
Quotes to ponder:
"Most of the waste is, however, on leaks and quantity; not quality."
"Every activity must be bleeding money. Perhaps this explains the common misconception that spending less means 'not really living' or 'living deprived' or 'having a lower standard.'"
"How can anyone enjoy the journey when having to deal with the problem of running the bilge pump all the time? Why not take care of the leaks?"
Episode references:
Investopedia - Consumerism: https://www.investopedia.com/terms/c/consumerism.asp
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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 3047:
Having interviewed over 40 everyday millionaires, ESI of ESIMoney.com uncovers the key habits that lead to wealth. High income, disciplined saving, and early, consistent investing stand out as the core principles that set millionaires apart. Avoiding financial pitfalls and making smart money moves further accelerate their journey proving that financial success is more about mindset and discipline than luck.
Read along with the original article(s) here: https://esimoney.com/lessons-from-millionaires/
Quotes to ponder:
"Having a high income is a great asset. Even people with high incomes can spend it all, so while many millionaires have high incomes, they also have something more valuable: self-control to limit their spending."
"Millionaires use this to their advantage. They invest early, often, and at high amounts. Then they let this money sit and compound (usually in index funds) year after year and decade after decade."
"My challenge to you is to ask yourself which of the tips mentioned you are missing. Which of these can you attack and get just a bit better at over time?"
Episode references:
The Millionaire Next Door: https://www.amazon.com/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 3046:
Chris of KeepThrifty.com shares key lessons from his own experience, emphasizing the importance of retiring to something rather than just from something, preparing mentally as well as financially, and structuring free time to create a fulfilling life. These insights can help you make the most of your retirement, whether it’s temporary or permanent.
Read along with the original article(s) here: https://www.keepthrifty.com/before-you-retire-lessons-from-mini-retirement/
Quotes to ponder:
"Don’t retire from something, retire to something."
"Understanding who I am outside of my job has been one of my toughest and most valuable lessons from this mini-retirement."
"By defining clear boundaries and structure, we’ve been able to turn the blessing of free time in retirement from something good to something great."
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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 3045:
Earning less money each year might seem like a setback, but it can actually be a hidden advantage. By gradually reducing income, financial habits shift towards frugality, creativity, and long-term sustainability, making financial independence more achievable. This perspective challenges the traditional belief that constant income growth is the only path to success.
Read along with the original article(s) here: https://financialpanther.com/the-unexpected-benefit-of-earning-less-money-each-year/
Quotes to ponder:
"Making less money forces you to be more creative with how you earn and spend."
"When your income drops, you start asking yourself what really matters."
"Instead of feeling like you need to make more money, you learn to make do with what you have."
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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 3044:
Amberly Grant explores the balance between smart financial choices and living a fulfilling life, emphasizing that financial independence should enable joy, not postpone it indefinitely. She shares her own journey, illustrating how embracing adventure and relationships can coexist with responsible planning for the future.
Read along with the original article(s) here: https://www.fiology.com/delay-of-gratification/
Quotes to ponder:
"Delayed gratification does not mean delayed joy."
"The financial independence journey is about learning how to live the life you want, not about racing to a magic bank account balance."
"If I say no to opportunities as rewarding as this, I wouldn’t be supporting my true self."
Episode references:
I Will Teach You to Be Rich by Ramit Sethi: https://www.amazon.com/I-Will-Teach-You-Rich/dp/1523505745
EconoMe Conference: https://economeconference.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 3043:
Lisa Harrison shares how embracing the dollar store has helped her save money on everyday essentials without compromising on value. Her story is a reminder that financial savviness isn’t about where you shop, but how wisely you spend, regardless of what others might think.
Read along with the original article(s) here: https://madmoneymonster.com/2021/07/12/why-i-love-shopping-at-the-dollar-store/
Quotes to ponder:
"I mean, if it’s good enough for someone who used to call 1600 Pennsylvania Avenue home, it’s certainly good enough for me and you."
"Seriously, people need to get over themselves and simply save a buck wherever and whenever they can."
"After all, you really shouldn’t care where you buy your toilet paper or pool noodle. I certainly don’t."
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Episode 3042:
How do we know if our reality is the true one? Steve Pavlina explores the nature of subjective and objective reality, challenging us to question our perceptions and consider alternative viewpoints. By examining how beliefs shape our experiences, he invites us to expand our awareness and take greater control over our personal growth.
Read along with the original article(s) here: https://www.stevepavlina.com/blog/2005/03/my-reality-or-yours/
Quotes to ponder:
"My reality is the one that makes the most sense to me, but that doesn’t mean it’s the only reality."
"If you assume reality is objective, you’ll seek truth by trying to eliminate perceptual biases. If you assume reality is subjective, you’ll seek truth by aligning your thoughts with your desires."
"Perhaps the most intelligent choice is not to rigidly lock onto a single model of reality but to consciously select the model that best serves us in each moment."
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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 3041:
Simon Zhen applies Sun Tzu’s Art of War to the fight for financial independence, offering timeless wisdom on how to aggressively eliminate debt and defend yourself against its return. From avoiding prolonged struggles with interest to maintaining a strong offense, these war tactics provide a blueprint for achieving lasting financial freedom.
Read along with the original article(s) here: https://www.financialsamurai.com/sun-tzus-art-of-war-applied-to-your-battle-against-debt/
Quotes to ponder:
"Every battle is won before it is ever fought."
"There is no instance of a country having benefited from prolonged warfare. In war, then, let your great object be victory, not lengthy campaigns."
"If you know the enemy and know yourself, you need not fear the result of a hundred battles."
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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 3040:
A Purple Life argues that pursuing financial independence is the wimpy way out, allowing people to build an impenetrable safety net before taking any leaps. By carefully structuring each transition from remote work to downsizing to local nomadism the journey to early retirement becomes a series of calculated baby steps rather than a daring plunge.
Read along with the original article(s) here: https://apurplelife.com/2020/08/25/fire-is-for-wimps/
Quotes to ponder:
“We build an adamantium safety net and THEN jump. We are literally the wimpiest people ever.”
“Instead of quitting our corporate job to pursue our passions through entrepreneurship or live the exact life we dream of from Day 1, we don’t just do it. We don’t just take that leap.”
“I created the best life I could and then figured out how I could inchworm my way towards my post-career life.”
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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 3039:
Harry N. Stout explains the two types of 529 Plans, college savings plans and prepaid tuition plans, along with their benefits, potential drawbacks, and flexibility in case of changing circumstances. Understanding these plans can help families make informed financial decisions while balancing college savings with long-term financial security.
Read along with the original article(s) here: https://www.financialverse.com/post/savings-tax-breaks-for-middle-america-529-plans
Quotes to ponder:
"Funds in a 529 Plan grow federal tax-free and will not be taxed when the money is withdrawn for qualified education expenses."
"There are a myriad of situations that can arise in the future such as the death of a child, the receipt of full academic or athletic scholarships, or the receipt of employer educational assistance."
"Your child can take out a loan for school, you however cannot take out a loan for your retirement."
Episode references:
Saving for College: https://www.savingforcollege.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 3038:
Having a traditional emergency fund is essential, but Christina Browning highlights four alternative funds that provide extra financial security in unexpected situations. From keeping a stash of cash for immediate needs to maintaining a backup account at a local bank, she explains why diversifying your emergency funds is just as important as saving for the future. Whether it's utilizing credit cards strategically or ensuring you have a reliable person to turn to, these practical tips help you stay prepared for any financial crisis.
Read along with the original article(s) here: https://www.ourrichjourney.com/post/four-emergency-funds-you-need-not-including-the-traditional-emergency-fund
Quotes to ponder:
"A stash of cash that is greater than the amount you can withdraw from an ATM is vital if you need a large amount of money immediately in an emergency situation."
"Having one card of all three means you know at least one will be accepted when you need to spend or withdraw that money."
"The idea that you’re totally on your own can be anxiety-provoking regardless of how financially responsible you are."
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Episode 3037:
Wanderer of Millennial Revolution breaks down how certain workers, like educators, healthcare professionals, and government contractors can contribute to multiple tax-advantaged accounts simultaneously, slashing taxable income by tens of thousands of dollars. Many employees miss out simply because HR departments don’t advertise these options, but knowing the rules can help accelerate financial independence and early retirement.
Read along with the original article(s) here: https://www.millennial-revolution.com/invest/workshop-invest/investment-workshop-42-double-fisting-retirement-accounts/
Quotes to ponder:
"This is a guy who deliberately took on student debt because he was able to somehow get it at a rate of 0.75%, then turned around and invested it in treasuries and made money off it."
"It’s possible to qualify for multiple accounts at the same time."
"If you don’t take advantage of it, that contribution room is gone forever."
Episode references:
How to Access Retirement Funds Early - Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early/
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Episode 3036:
Darrow Kirkpatrick explores strategies like the 72(t) Rule, home equity loans, and special tax exemptions, highlighting both their benefits and risks. While taxable accounts offer the most flexibility, understanding these alternatives can provide financial freedom before reaching 59½.
Read along with the original article(s) here: https://www.caniretireyet.com/generating-retirement-income-before-age-59/
Quotes to ponder:
"Once you start down the 72(t) road you are essentially locked in for a period of time."
"If you take out any kind of loan in early retirement, you are assuming that you will have the cash flow later in retirement to easily pay off the loan."
"The very best way to save for early retirement is probably to max out your tax-sheltered account contributions and then keep on saving into taxable accounts during your working years."
Episode references:
Dinkytown.net: https://www.dinkytown.net
CalcXML: https://www.calcxml.com
"How to Access Retirement Funds Early" by Mad Fientist: https://www.madfientist.com/how-to-access-retirement-funds-early
72T.net: https://72t.net
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