ChooseFI

In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation.

This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!

• Website: personalfinanceclub.com
• Instagram: @personalfinanceclub

• The pitfalls of overcomplicating personal finance and investment strategies
• The power of simplicity in financial management and investing
• Mistakes made in early investing: complex ETFs vs. simple index funds
• Jeremy’s journey from selling his company to managing a $2M windfall
• The surprising truth about target date funds and why simplicity often wins
• The concept of “the more I tinker, the worse it gets” in investment strategies
• Personal finance habits that persist from childhood and their impact on adult financial decisions
• Dividends vs. reinvesting: pros, cons, and psychological aspects
• Understanding the differences between fiduciary financial advisors and those incentivized to sell products
• Why financial simplicity and automation can lead to better outcomes

• 00:00 – Introduction to Jeremy Schneider
• 02:00 – Simplicity vs. Complexity in Financial Decisions
• 03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes
• 06:00 – Complex ETFs vs. Target Date Funds
• 08:00 – How Tinkering Can Lead to Worse Financial Outcomes
• 12:00 – Personal Finance Habits from Childhood
• 14:00 – Dividend Reinvestment: To Reinvest or Not?
• 18:00 – Simplifying Financial Life: Automating Investments
• 22:00 – The Dangers of Chasing Dividends
• 26:00 – Real-Life Examples of Bad Financial Advice
• 33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople
• 39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance
• 46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence

• The 7 Sins of Investing
• Nectarine
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)
• Get a cheaper phone plan with Mint Mobile

105 | Paula Pant, creator of Afford Anything podcast and blog, dives into her love for travel, her rejection of the traditional 9-5, and how she built an income to match her lifestyle.

• Paula moved to the U.S. as a baby, just after being born in Nepal.
• Her only travel growing up was between Ohio and Nepal.
• Travel has become a large part of Paula’s life, but her desire to travel only grew in her adult life.
• Rebellion is a form of seeking identity.
• Once Paula started traveling did she fall in love with travel immediately?
• What does Paula consider a legitimate visit to a foreign country?
• Two weeks of vacation in Paula’s first few years of work after college felt too limiting.
• Paula made a lifestyle change, and then figured out how to fund it.
• Learning about and trying out freelance work introduced Paula to the idea that someone could work outside of the traditional 9-5 work.
• Did Paula receive criticism when she quit her job to travel?
• When Paula traveled for her first few years, she budgeted about $1,000 a month for expenses and chose to visit countries where the dollar goes far.
• Paula’s tips for building connection while traveling:
• • Stay at hostels – more economical, and more social.
  • Meet the American, Australian, British, etc., ex pats, and meet their friends (build relationships, and travel slowly).
• How did Paula restart once she returned to the U.S. after her 27-month adventure?
• In pursuit of writing what she wanted to read, Paula became a personal finance writer.
• When did Paula begin to feel imposter syndrome?
• Default to saving, instead of default to spending.
• Why does spending money create anxiety for Paula, and how did the scarcity mindset actually push Paula toward financial independence?
• Passive income (real estate) was primarily meant to give Paula some financial cushion, instead of a means to financial independence.
• Humans crave autonomy, purpose and mastery.
• Reading about potential scientific advances motivates Paula to be healthier because she wants to be around to see it.
• Self-care is work care.

For more information, visit the show notes at https://ChooseFI.com/105

In this episode: real estate, upskilling, taking action, tracking your expenses, setting goals, getting on the same page, and the hot seat.

This week we are joined by listener Navish Bahl to discuss his journey on the path to FI, the actionable steps he’s taken in order to maximize his life, answer some questions in the HotSeat, and navigating your FI journey while your significant other or family may not be on board. There are many avenues you can utilize in order to achieve FI, and while it may be overwhelming at times to figure out what works for you and your journey, remember that the goal is to learn and go through life with more freedom and balance, not stress and burnout trying to chase a number. The path to FI is a personal one, and as you embark on your journey allow yourself some patience but also some flexibility, and don’t forget to extend some patience to others in your life who may not be on the same path.

Navish Bahl:

• LinkedIn: Navish Bahl

Timestamps:

• 0:52 - Introduction
• 2:30 - The Inspiration to Start and Taking Action
• 11:44 - Real Estate and Rental Properties
• 18:42 - Upskilling, Getting New Jobs, and Making Connections
• 33:09 - Discovery, Education, and Action in FI
• 39:52- Tracking Your Expenses
• 46:34 - Getting on the Same Page
• 50:21 - The Hot Seat
• 55:18 - Conclusion

Resources Mentioned In Today’s Episode:

• "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School" By Andrew Hallam
• "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" By J.L. Collins
• Small and Mighty Real Estate Investor | Chad Carson | ChooseFI Ep 446
• CIT Bank Review: High Interest Rate Options
• Find your Local ChooseFI Group
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)

In this episode: the wonderful ChooseFI community shares advice by taking the hot seat through listener voicemails.

Ginger joins the podcast this week for a special “Hot Seat” episode to listen to some voicemails set in from our listeners, in which our community answered questions that we typically ask our guests when they take the Hot Seat! From discussing favorite books and podcasts, to learning some new tricks and takeaways that have helped you on your FI Journey, it’s incredible to hear the ways you are taking action and creating habits that are making your journey to FI meaningful and motivational! We often stress that living FI isn’t about chasing a number, but rather building up the life you want in the process of working towards your goals, and while there may be mistakes made, there are many learning opportunities and new perspectives of success that make this journey incredibly rewarding.

• 1:45 – Introduction
• 2:29 – Ashley and Atomic Habits
• 10:17 – Tyler and Opportunity Cost
• 19:09 – Amanda and Mental Wellbeing
• 25:17 – Caesar and PSLF Forgiveness
• 30:56 – Aaron, House Hacking, and DIY
• 37:17 – Ginger Takes The Hot Seat
• 59:33 – Brad Takes The Hot Seat
• 76:19 – Conclusion

• “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear
• Atomic Habits | James Clear | ChooseFI Ep 157
• “Die With Zero: Getting All You Can from Your Money and Your Life” by Bill Perkins
• “Just Keep Buying: Proven ways to save money and build your wealth” by Nick Maggiulli
• BitWarden
• “The Nature Fix: Why Nature Makes us Happier, Healthier, and More Creative” by Florence Williams
• I Will Teach You To Be Rich
• Book your custom student loan plan
• “Never Split the Difference: Negotiating As If Your Life Depended On It” by Chris Voss and Tahl Raz
• “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi
• Risk Parity Radio
• “Why We Sleep: Unlocking the Power of Sleep and Dreams” by Matt Walker
• The Matt Walker Podcast
• Peter Attia
• Ginger’s New Sheets
• My First Million Podcast
• Prof G Show
• Pivot Podcast
• Todoist