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Podcast title Radical Personal Finance: Financial Independence, Early Retirement, Investing, Insurance, Financial Planning
Website URL http://radicalpersonalfinance....
Description Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core business strategy to equip you with the knowledge and inspiration you need to build financial independence.
Updated Wed, 24 May 2017 09:01:49 +0000
Image Radical Personal Finance: Financial Independence, Early Retirement, Investing, Insurance, Financial Planning
Category Business
Education
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Episodes

1. 460-How to Decide What To Invest In
http://radicalpersonalfinance.... download (audio/mpeg, 49.10Mb)

Description:

I frequently get this question: "Joshua, what should I invest my money in?"

Well, that's a hard question to answer. I'm not you, so how should I know?

But, here are the factors I think you should consider in answering that question for yourself:

time money knowledge skill temperament timing opportunities tools

Joshua

p.s., did I miss any important factors? If so, let me know in the comments.



2. 459-Don't Trust Your Financial Advisor!
http://radicalpersonalfinance.... download (audio/mpeg, 26.99Mb)

Description:

Many people are far too free with their personal financial information. This can be very dangerous.

You cannot expect your financial advisor to keep your personal information private, secret, and secure.

You've got to take steps to protect yourself.

Joshua

 



3. 458-Mexican Taxis, Drug Cartels, License Plates, Registration Stickers, Goons with Guns...and You!
http://radicalpersonalfinance.... download (audio/mpeg, 29.50Mb)

Description:

I'm not sure how to explain this one to you via text...perhaps it's just better if you hit play and listen!

:)

Joshua



4. Quit Social Media by Dr. Cal Newport
http://radicalpersonalfinance.... download (audio/mpeg, 31.67Mb)

Description:

I'm a big fan of Cal Newport's work and I stumbled across this TEDx talk that he gave on the topic of social media.

Consider his points and see how they might relate to your personal social media usage.

It'd be a shame to look back at the end of the year and recognize an alternative use for the hundreds of hours that most of us use in social media activities. Always think about the opportunity cost...

Joshua

Original video: https://youtu.be/3E7hkPZ-HTk

5. 457-Celebrating the Arrival of a New Baby!
http://radicalpersonalfinance.... download (audio/mpeg, 21.12Mb)

Description:

Hey Radicals!

Today's show is a little audio ramble among friends to tell you that my wife and I are celebrating the birth of a new little baby boy!

(I also tell you about my 3-year-old's first successful investment...and his 100% ROR!)

Joshua

Episode 212: Comments on Preparing for Child Birth with Mrs. RPF

6. 10 Rules for Dealing With the Police (Audio)
http://radicalpersonalfinance.... download (audio/mpeg, 87.13Mb)

Description:

Rounding out our theme this week of how to survive and thrive during police encounters so that you are not arrested and imprisoned, I bring you an important video by the Flex Your Rights organization.

This one is best viewed as a video and is available for free here: https://youtu.be/s4nQ_mFJV4I

It contains dramatic presentations and acting and is really well done. I recommend that you don't listen to the audio file here; I recommend you make the time to watch the video yourself, then again with your spouse and children.

However, I find that it's hard to make the time to watch videos, so I'm posting the audio here for you to at least listen to. You'll gain a lot from simply listening to the audio.

But, again, if you can make the time, stop listening and go watch it: https://youtu.be/s4nQ_mFJV4I



7. You Have the Right to Remain Innocent, by Law Professors James Duane and Randy E Barnett
http://radicalpersonalfinance.... download (audio/mpeg, 197.68Mb)

Description:

This is the audio from a presentation at the CATO Institute by Law Professors James Duane and Randy Barnett. (original video: https://youtu.be/gpkc2FZFR5k)

It is a follow up of the concepts outlined in James Duane's excellent book "You Have the Right to Remain Innocent."

There is very little additional value from watching the video file, so enjoy the audio and you'll get the most important points.

Buy James Duane's book "You Have the Right to Remain Innocent" http://amzn.to/2qgDFDF

8. Don't Talk to the Police - James Duane, Law Professor at Regent University School of Law
http://radicalpersonalfinance.... download (audio/mpeg, 106.75Mb)

Description:

I urge you to make the time to listen to this presentation about why you should not talk to the police, no matter your guilt or innocence in any matter.

This is an audio presentation of this YouTube speech (viewed over 23 million times wherein Regent Law Professor James Duane gives viewers startling reasons why they should always exercise their 5th Amendment rights when questioned by government officials: https://youtu.be/d-7o9xYp7eE

(There is very little added value in the video presentation, so you'll gain the bulk of the knowledge by listening exclusively to the audio.)

Also, you should buy and read the $5 book that Professor Duane wrote to follow up to this speech: "You Have the Right to Remain Innocent." (highly recommended) http://amzn.to/2qgDFDF



9. 456-Protect Your Money by Arrest-Proofing Yourself and Your Children
http://radicalpersonalfinance.... download (audio/mpeg, 132.39Mb)

Description:

If you get arrested, you can kiss anywhere from thousands to hundreds of thousands of dollars good-bye.

You need insurance against that eventuality.

Today, I'm going to teach you why it's vitally important that you arrest-proof yourself and how to do it.

Joshua

Arrest Proof Yourself book: http://amzn.to/2ph7Xos Don't Talk to the Police video: https://youtu.be/d-7o9xYp7eE You Have the Right to Remain Innocent video: https://youtu.be/gpkc2FZFR5k BUSTED: The Citizen's Guide to Surviving Police Encounters: https://youtu.be/yqMjMPlXzdA

 



10. 455-A Business Approach That Works For This Stay-At-Home Mome: Interview with Dr. Marilyn Brodeur, Founder of the Infant Dental Center
http://radicalpersonalfinance.... download (audio/mpeg, 39.36Mb)

Description:

My guest today is Dr. Marilyn Brodeur, founder of the Infant Dental Center in Corpus Christi, Texas.

Marilyn reached out to me after hearing my response to a caller in Episode 417 who was struggling with a decision of whether to pursue her career aspirations or to focus her attention on her children.

So, I invited her on the store to share her story about how she has built a successful business that allows her a great deal of flexibility and capitalizes on her skills and ability.

Enjoy!

Joshua

Marilyn's practice: http://www.infantdentalcenter.com/

11. Out & About: Everything Financial Radio Appearance with Dennis Tubbergen to Discuss How to Live a Rich Life Now
http://radicalpersonalfinance.... download (audio/mpeg, 31.30Mb)

Description:

I don't have a new, original show for you today. But, I do have this interview that I gave last year on Everything Financial Radio! My segment of the show begins at 22:20. Enjoy!

This is the original episode link: http://www.everythingfinancialradio.com/2016/04/joshua-sheats-and-tom-aspray-join-host-dennis-tubbergen/

12. 454-Friday Q&A: Where Should a 48-Year-Old Focus Financially, Should I Sell a Stock that Makes Up 25% of My Net Worth, Should I Move Across the Country So My Children Can Be Near Their Grandparents, How Strong Is the California Pension System, Should I Co
http://radicalpersonalfinance.... download (audio/mpeg, 52.44Mb)

Description:

It's Friday! That means Q&A:

Where Should a 48-Year-Old Focus Financially for Retirement? Should I Sell a Stock that Makes Up 25% of My Net Worth? Should I Move Across the Country So My Children Can Be Near Their Grandparents? How Strong Is the California Pension System? Should I Contribute More to Retirement So I Can Pay Less on My Student Loans?

13. 452-The Rule of 72
http://radicalpersonalfinance.... download (audio/mpeg, 14.18Mb)

Description:

Today we tackle the Rule of 72 with a quick explanation of what it is and why it's useful to you.



14. 451-The Millionaire Next Door Wealth Index: How Do You Stack Up?
http://radicalpersonalfinance.... download (audio/mpeg, 18.25Mb)

Description:

The Millionaire Next Door Wealth Index:

"Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be."



15. 450-Network Marketing, Multi-Level Marketing, & Pyramid Schemes: Are They Legitimate Business Opportunities or a Complete Scam?
http://radicalpersonalfinance.... download (audio/mpeg, 44.82Mb)

Description:

About once a week, I get an email asking me for my opinion on network marketing opportunities. So, today, here is my opinion and advice for you!

Joshua

Please support Radical Personal Finance on Patreon. www.radicalpersonalfinance.com/patron

16. Secrets to Success (ETtheHipHopPreacher)
http://radicalpersonalfinance.... download (audio/mpeg, 20.64Mb)

Description:

Here's a great Monday-morning sermon by ETtheHipHopPreacher to kick off your work week. Thank God it's Monday!

Original video: https://youtu.be/5fsm-QbN9r8



17. 449-Friday Q&A: How Do You Help Young People Engage in Goalsetting, How Much Debt Is Too Much on Rental Properties, How Do You Help Your Brother-In-Law Learn About Money, Last-Minute Health Savings Account Contributions,
http://radicalpersonalfinance.... download (audio/mpeg, 48.12Mb)

Description:

We do a live Q&A show on Fridays. Today we cover:

How Do You Help Young People Engage in Goalsetting? How Much Debt Is Too Much on Rental Properties? How Do You Help Your Brother-In-Law Learn About Money? Last-Minute Health Savings Account Contributions?

Enjoy the show!

Joshua

Please support the show on Patreon! www.radicalpersonalfinance.com/patron Sign up for a free 34-day trial of YNAB: www.radicalpersonalfinance.com/YNAB Try out the Personal Capital dashboard: www.radicalpersonalfinance.com/personalcapital

18. 448-Mythbusting: Your 401(k) Won't Make You Rich! Here's Why...
http://radicalpersonalfinance.... download (audio/mpeg, 41.46Mb)

Description:

I've often made comments like, "Your 401(k) won't make you rich." Or, "People Don't Get Rich Because they Invested in Their 401(k)."

A listener recently asked for clarification on that statement. I thought it was so important that I dedicated an entire show to it.

In today's show, I give my defense of my statements and argue my case.

My thesis is simple: high 401(k) balances are correlated to people who are rich, but they are not a causative factor of wealth.

Enjoy!

Joshua

Please support my show on Patreon! www.radicalpersonalfinance.com/patron

19. Out & About: My Appearance on "Best Real Estate Advice Ever" with Joe Fairless
http://radicalpersonalfinance.... download (audio/mpeg, 31.48Mb)

Description:

A little while back I gave this interview for Joe Fairless on his show, "Best Real Estate Advice Ever." We focused on the intersection between personal finance and professional financial advice. Enjoy!

Joshua

http://joefairless.com/best-financial-advice-achieving-maintaining-financial-freedom/



20. Out & About: My Appearance on Sound Retirement Planning Podcast with Jason Parker
http://radicalpersonalfinance.... download (audio/mpeg, 23.07Mb)

Description:

Today, please enjoy this recording of my appearance on Episode 107 of the Sound Retirement Planning Podcast with Jason Parker!

This show was recorded in Q4 of 2016.

http://soundretirementplanning.com/107-radical-retirement-planning-joshua-sheats-radical-personal-finance/



21. 447-Mythbusting: The Myth of Passive Income
http://radicalpersonalfinance.... download (audio/mpeg, 27.73Mb)

Description:

I see lots and lots of people talking about the idea of "passive income." Everywhere I look, I hear people talking about passive income and why it's so great!

But, I've heard very few people define the concept and explain what a true passive income opportunity is.

And the vast majority of opportunities I hear of don't qualify as passive income in my book.

So, let's bust this "passive income" myth today!

Joshua

Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron 

22. 446-Friday Q&A: Should We Sell the House we Just Moved Out of, Should I Fire My Financial Advisor, A Cool Networking Event for Celebrities that I Admire, How Can Divorced Men Pay Less Child Support, and More!
http://radicalpersonalfinance.... download (audio/mpeg, 54.17Mb)

Description:

It's Friday! On today's Live Q&A show we cover:

Should I sell the house we just moved out of? How Do I Figure Out If I Should Fire My Financial Advisor or Not? How Can I Organize a Really Cool Networking Event for Celebrities that I Admire? How Can Divorced Men Creatively Avoid Paying Higher Child Support? What Competitive Advantage Does Dimensional Fund Advisors Have Over Vanguard? How Has Joshua Changed His Financial Plan Over the Last Three Years?

Enjoy!

Joshua

Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

23. 445-Should we Keep Paying off Our House with Gazelle Intensity or Switch to Saving 15% for Retirement?
http://radicalpersonalfinance.... download (audio/mpeg, 28.77Mb)

Description:

Today, we cover this question:

Joshua,

My husband and I love your show and would LOVE IT if you could help us answer a question from your point-of-view.

Facts:

We're completely debt-free except for our house. We make around $130,000 per year. We're currently investing 10% for retirement. We are dead-set on paying off the house in the next 2.5 to 3 years.

The DILEMMA:

Dave Ramsey suggests saving 15% for retirement for someone in our position. We can do this..but that'll slow down our house payment goal quite substantially (or, in my mind it's substantial, as I want this house paid off TOMORROW!)

The goal after the house repayment is to throw everything we can spare towards investing in retirement funds.

THE QUESTION:

Should we stay strong on our course to pay off the house in 3 years tops only saving about 10% for retirement or do we bump up retirement savings? Ultimately how do I figure out the opportunity cost in each scenario?

Thanks so much!

Taliah

--

Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron This is the debt-payoff calculator that I use constantly! https://www.vertex42.com/Calculators/debt-reduction-calculator.html

24. 444-Yes, You Can Afford For Your Wife to Stay At Home...Here's How!
http://radicalpersonalfinance.... download (audio/mpeg, 35.26Mb)

Description:

Today's show comes by inspiration of this listener question: "Joshua, will you please send me a link to the best show on your website for a woman wanting to convince her husband that they can make it financially if she stays home?"

Well, I didn't have such a show. But now I do.

Here it is!

Joshua

Don't have good data on your income and expenses? Start tracking it with YNAB! Get a free 34-day trial at www.radicalpersonalfinance.com/YNAB

DATA:

   Working (Conservative)   Staying at Home   Difference          Husband   $60,000  $60,000   Wife  $60,000  $-     Total  $120,000  $60,000  $60,000         Employment Taxes (7.65% -- 6.2% SS + 1.45% Medicare)  $9,180  $4,590  $4,590 Income Taxes (Turbo Tax Estimate, 30 years old - 2 kids, no deductions)  $12,849  $1,756  $11,093    $22,029  $6,346  $15,683         Income, net of tax  $97,971  $53,654  $44,317         Cost of Childcare ($7k x 2)  $14,000  $-    $14,000 Income, net of childcare  $83,971  $53,654  $30,317         Commuting Costs Saved ($200/mo)  $2,400  $-     Work Lunches Saved (100 lunches @ $15)  $1,500  $-     Work Clothing Saved ($50/mo x 12)  $600  $-     Dinners Out Saved ($60 x 50)  $3,000  $-     Household Savings due to frugality ($200/mo x 12)  $2,400        $9,900  $-    $9,900         Income, net of working costs  $74,071  $53,654  $20,417

25. 443-1 Year, 50 States, 3 Children, $1,000,000, and the Launch of A Brand-New Business: Interview with Anthony Amos from Bathe to Save
http://radicalpersonalfinance.... download (audio/mpeg, 37.03Mb)

Description:

I've really got a great show for you today. It's one that brings together so many things that I love talking about! Travel with Family, Entrepreneurship, Marketing, Financial Independence, and more!

My guest is Anthony Amos.

He's an Australian entrepreneur who started out with a tiny little backyard dog-washing business. He grew it, franchised it across Australia, and then sold it and decided he was rich enough to go into property development.

His timing was not so great (right before the real estate crash) but he suffered through.

Later, he wound up buying the company back and he's in the process of expanding across the United States!

At the moment, he and his family are in the middle of a 50+-state RV trip all across the USA with a goal of raising $1,000,000 for dog rescue. Along the way, they're enjoying an incredible family adventure and publicizing their dog washing business!

This one is well worth your time!

Joshua

Anthony's website: https://bathetosave.com/ Please support RPF on Patreon! www.radicalpersonalfinance.com/patron

26. 442-How to Do Your Own Taxes The Easy Way (And Should You Hire an Accountant?)
http://radicalpersonalfinance.... download (audio/mpeg, 23.72Mb)

Description:

It's tax-time! That means that you face a problem: how should you do your taxes? Should you print off the 1040 form from the internet and fill it in by hand? Should you use tax software? Should you hire an accountant?

Here are my thoughts on the matter!

Joshua

Great records will make doing your taxes an absolute breeze. Why not try YNAB for your budgeting and recordkeeping? Get a free 34-day trial at www.radicalpersonalfinance.com/YNAB Please support RPF on Patreon. Currently 267 people of the ~18,000 daily listeners support the show on Patreon for a total of $1,659 per month. I'd be thrilled if you'd join them! www.radicalpersonalfinance.com/patron

27. 441-Friday Q&A (Live): How Can a 13-Year-Old Young Man Get His Start as a Financial Advisor; How Can an Early Retiree Calculate If He Has Enough Money
http://radicalpersonalfinance.... download (audio/mpeg, 32.23Mb)

Description:

It's Friday! That means it's time for a live Q&A show.

Today we handle two questions:

How Can a 13-Year-Old Young Man Get His Start as a Financial Advisor? How Can an Early Retiree Calculate If He Has Enough Money

Enjoy the show!

Sign up as a Patron to be invited to future Friday call-in shows. www.radicalpersonalfinance.com/patron

Joshua



28. 440-How to Grow Your Podcast Audience with Effective Marketing
http://radicalpersonalfinance.... download (audio/mpeg, 27.22Mb)

Description:

Today's show is dedicated to marketing. I focus on answering a specific question about podcast marketing, but I do share a number of tips that are applicable on a broader basis.

Here's the question:

Hi Joshua,

I was inspired to start my own podcast six months ago when I listened to your episode 300 entitled "30 podcasting lessons learned from 300 episodes".

Your words of encouragement were invaluable for me and really made me believe I could do this. Your suggestion to focus on content and not the technical aspect of podcasting was the most significant takeaway for me.

The podcast is only 30 episodes in and we consistently publish an episode every single week but wondered if you could provide some suggestions on how to grow your audience.

Background information:
Candian based personal finance podcast, host/co-host format, with the occasional guest

Thanks so much,
Trevor
Simple Money Solutions podcast

Go listen to Trevor's show! http://livelifesimple.ca/ Please use the coupon code "Radical" to get your first month of podcast hosting for free at www.libsyn.com Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron

29. 439-Book Review: Unshakeable - Your Financial Freedom Playbook by Tony Robbins
http://radicalpersonalfinance.... download (audio/mpeg, 64.02Mb)

Description:

I wasn't quite sure how I should approach today's book review of Tony Robbins new money book, so I asked the Radical Personal Finance Facebook group.

I wrote: "I'm about to record my review of Tony Robbins' new book, Unshakeable. Should I do it in my current mood as ticked-off, angry Joshua and rip it to shreds or should I do it in my calm, collected and intellectually neutral voice, carefully presenting the good, the bad, and the ugly? Whadya want?"

Well, most people seemed to want option A, so I turned the mic on and let it rip.

Enjoy my review of Tony Robbins' latest book: Unshakeable: Your Financial Freedom Playbook: Creating Peace of Mind in a World of Volatility.

Joshua

p.s., If you missed it, here's my 3-hour review and critique of his first personal finance book, Money: Master the Game: 7 Simple Steps to Financial Freedom.

Get a free 34-day trial of the personal budgeting software that I use every day: www.radicalpersonalfinance.com/YNAB Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/Patron

 

 



30. 438-The Audience Demographics of Radical Personal Finance (And What Surprised Me the Most!)
http://radicalpersonalfinance.... download (audio/mpeg, 25.84Mb)

Description:

I recently completed a brief demographic survey of the Radical Personal Finance audience. I learned a ton about who you are!

I thought it would be fun for me to share it with you and share how it impacted me.

Enjoy!

Joshua

    Do you need a website? Reach out to my own personal web team at www.sillygrasshopper.com and see if they can help you!

Radical Personal Finance Audience Demographics    
    
Gender    
Male    78.9%
Female    21.1%
    
Age    
13-17    0.2%
18-20    0.6%
21-24    6.9%
25-34    48.5%
35-44    29.8%
45-54    9.9%
55+    4.2%
    
Marital Status    
Single    27.4%
Married    70.1%
Divorced    2.4%
Widowed    0.1%
    
Race    
Asian    4.5%
Black    3.9%
Caucasian    82.1%
Hispanic    4.5%
Native American    0.1%
Pacific Islander    0.7%
Other    4.2%
    
Education    
Less than high school graduate    0.4%
Graduated high school / GED    1.7%
Trade / Technical school - no degree    1.5%
Attended college but did not graduate    5.4%
Two year college degree    5.3%
Four-year college degree    50.1%
Masters degree    26.6%
Doctoral degree    9%
    
Income    


31. 437-Mustachianism 101: The Philosophy of Mr. Money Mustache
http://radicalpersonalfinance.... download (audio/mpeg, 40.83Mb)

Description:

On episode 425 of the podcast I interviewed Mr. Money Mustache. That episode was not intended to be an introduction to his teaching or his philosophy; rather, it was a human interest discussion with the man himself.

Today, I introduce you to the philosophy and teaching: the message.

What is mustachianism? What is the plan for financial independence espoused by Mr. Money Mustache?

Enjoy!

Joshua

Start your search for a great financial advisor here: www.radicalpersonalfinance.com/patron Please support the show directly as a Patron: www.radicalpersonalfinance.com/patron

32. Special Request: Please Send me a Voicemail and a Picture
http://radicalpersonalfinance.... download (audio/mpeg, 4.90Mb)

Description:

Hey Radicals!

We're quickly coming up on Episode 500 of the show. To celebrate, I'd like to do a special show, exclusively featuring your stories.

1. Will you please record a quick 2- or 3-minute audio message telling us about the changes you've made in your life and how you've made financial progress in your life?

I think hearing your story will be so encouraging to all of us.

Also,

2. Will you please send me a picture of you and/or your family for me to post on my screensaver?

I'd like to create a picture gallery of who my listeners are so that I can picture you and record better information for you!

Email those two things to: joshua@radicalpersonalfinance.com

Thank you!

Joshua



33. Out & About: My Interview on the Richer Soul Podast with Rocky Lalvani
http://radicalpersonalfinance.... download (audio/mpeg, 95.77Mb)

Description:

I'm traveling today and unable to record.

Enjoy my recent interview on the Richer Soul podcast!

http://richersoul.com/2017/03/07/ep-0010-richer-soul-joshua-sheats-radical-personal-finance/

Joshua



34. 436-The Most Valuable Lessons I Learned As a Financial Advisor: #1 Don't Wait for the Business to Come To You...You Go Find It!
http://radicalpersonalfinance.... download (audio/mpeg, 24.16Mb)

Description:

I learned about business and money during my six years working as a financial advisor than at any other time period in my life.

Today I'm kicking off a series sharing some of the lessons that have most deeply impacted me. I'll share both the lessons I learned from business as well as the lessons that I learned from working with hundreds and hundreds of clients.

Lesson Number 1 is simple: Don't wait for business to come to you; go find it!

Joshua

Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

35. 435-Plan Your Weekend--This Weekend--Like You Plan Your Workweek
http://radicalpersonalfinance.... download (audio/mpeg, 10.50Mb)

Description:

It's Friday. Pay attention. That means the weekend is here. Have you planned and scripted it out for maximum results?

Do it.

Love you,

Talk next week...

Joshua



36. 434-Radical Lifestyle Stories: How this Filipina Immigrant Named Ruby is Pursuing Financial Independence in Less Than 10 Years
http://radicalpersonalfinance.... download (audio/mpeg, 20.33Mb)

Description:

My guest today is a lady named Ruby. We met at Camp Mustache SE 2017 a couple of months back and I got to hear her immigrant story! She and her husband are both recent immigrants to the United States and they are aggressively pursing financial independence.

Enjoy her story!

Joshua

Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

37. 433-Eighteen Simple, Free (or Very Cheap) Ways to Protect Your Financial Security and Privacy
http://radicalpersonalfinance.... download (audio/mpeg, 55.14Mb)

Description:

I've been thinking about computer and data security this weekend and I decided to run with that theme for today's show.

I've compiled a simple list of 18 tips for you to enhance your financial security and financial privacy.

These range from the simple (#1 is for you to cover your PIN code with your hand) to the contentious (#10 is my advice as to whether you get greater security from using a credit card or a debit card).

But, they're all useful and free (or at least nearly free).

Enjoy!

Joshua

Looking for a new financial advisor? Start your search here: www.radicalpersonalfinance.com/patron This is the Access Denied RFID blocking wallet that I have. http://amzn.to/2mZcZCJ Here's a ladies version of the Access Denied wallet. http://amzn.to/2md0a7K RFID blocking sleeves for your credit cards: http://amzn.to/2lPCcOm This is the MobileSec Cell Phone Blocker bag I mentioned: http://www.mobilesecsolutions.com/cell-phone-blocker I own this Amazon Basics paper shredder. It works really well http://amzn.to/2mPwiBy

38. 432-Gwen (A Fiery Millenial) Gives Her Take on Financial Independence and Early Retirement for Millenials
http://radicalpersonalfinance.... download (audio/mpeg, 28.41Mb)

Description:

My guest today is Gwen, writer at www.FieryMillenials.com

She is a hardcore saver who is working her tail off to reach financial independence and to teach others through her story.

This is an ideal follow-up to yesterday's advice to my 22-year-old listener.

Enjoy!

Joshua

Please Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

39. 431-How a 22-Year-Old College Grad Should Prioritize Their Steps Towards Financial Independence
http://radicalpersonalfinance.... download (audio/mpeg, 26.01Mb)

Description:

Today I answer this listener question:

Hi Joshua,

I am a 22 year old recent college graduate. I have since landed a job and have been working for about 4 months now. Prior to graduating college, I was much less educated on money matters and hardly mindful about my personal finances. Upon graduating, I realized that I knew next to nothing about budgeting, saving, investing, and growing wealth. Additionally, many technical terms and aspects of finance confused me. Since I was going to be getting a “real job” soon and making more money than I ever have before, I decided to self-educate and rid myself of financial ignorance. I began reading books, blogs, watching YouTube videos, and listening to podcasts. I now find myself in a much better position to make sound monetary decisions.

Here is my current situation:
I live at home with my parents rent free.
I am extremely fortunate to have no debt from college.
I have no debt.
I work a full time job and save virtually all of that money. I work a part time job and use that money as my “spending money.”

Essentially, I am blessed to have a blank slate coming out of college.

The downside of my equation is that my full time job does not pay particularly well ~$31,000 a year and I live in an area with a high cost of living (northern VA).

Do you have any advice for someone like me who is just getting started in the real world and wants to begin a path to financial independence?

I do realize that a huge step would be to find a better paying job – I am working on that. However what would you suggest that I do in the meantime to add additional income and begin my journey to FI?

My goal is not to make this all about making more money, but rather to position myself in such a way that I can live life the way that I want. ALSO I want to be in a position where I can easily provide advice and assistance to those who are less well off than I am.

Thank you in advance for any advice that you can provide!

Enjoy!

Joshua

Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

40. 430-Should A Retiring Naval Officer Invest in Real Estate or Do Something Else?
http://radicalpersonalfinance.... download (audio/mpeg, 21.90Mb)

Description:

Today, I answer this question from a listener:

Joshua- Fan of the show and a Naval Officer. I have some questions on overall investing strategy.  I have close to 17 years in the Navy and will likely retire at 20 with a full pension (about $55k/year before taxes), currently have $440k in retirement savings for my wife and I split between Roths and TSP, have over $140k in college savings for my 2 kids (8 and 10 year old, plan on also transferring my GI Bill which will essentially pay for one of their college educations), and have about $30k in taxable accounts.  We are selling our house in Norfolk, VA this year-- been a rental for 5 years but we are moving from Tampa to Jacksonville where I will take Command of a Destroyer there.

So- my question-- I am looking at getting into real estate investing and slowing down retirement savings over the next 5 years (from about $25k/yr to $12k-- maxing out Roths and minimum to TSP).  Curious to hear your take on my overall situation and real estate investing writ large.  Ideally we'd put about $40-50k into things this year-- either buy and hold type rental properties or a flip- and then snowball any earnings plus about $30k annually over the next 4 years until I retire to setup passive income sources.  Thanks!

Please support RPF on Patreon! www.radicalpersonalfinance.com/patron

41. 429-Should I Use Whole Life Insurance as a College Savings Plan?
http://radicalpersonalfinance.... download (audio/mpeg, 30.42Mb)

Description:

Listener Allyn writes in with this question: "What are your thoughts on using whole life insurance as a college savings plan? If you don't like it, why?"

My thoughts are in the show!

Joshua

Thank you for supporting the show on Patreon! www.radicalpersonalfinance.com/patron

42. 428-How to Get Richer Every Day (Questioning Commonly Accepted Wisdom)
http://radicalpersonalfinance.... download (audio/mpeg, 26.46Mb)

Description:

Do you feel richer today than you did yesterday? If not, why not?

Joshua

Daily by Seth Godin How to Get Richer Every Day by Mark Morgan Ford

43. 427-Experiments in Financial Independence: Conversation with Jonathan and Brad from ChooseFI.com
http://radicalpersonalfinance.... download (audio/mpeg, 28.52Mb)

Description:

Different people learn in different ways. For that reason, we need many new approaches to helping people learn about financial independence.

I'm glad to bring my new friends Jonathan and Brad on the show to talk about their project ChooseFI.com.

Operating under the banner "Experiments in Financial Independence," they're seeking to create a new approach to learning and teaching about financial independence.

Enjoy the interview!

Joshua

www.ChooseFI.Com www.TravelMiles101.com Find a great financial advisor! www.radicalpersonalfinance.com/paladin Use the same budget software I use! www.radicalpersonalfinance.com/YNAB Support RPF on Patreon: www.radicalpersonalfinance.com/patron

44. 426-Friday Q&A: Should I Get Rid of my 3rd Car, What is a Modified Endowment Contract and How Does it Work, What Should We Do With All This Extra Money our Church Just Received
http://radicalpersonalfinance.... download (audio/mpeg, 37.81Mb)

Description:

It's Friday! That means a live Q&A show. Today we tackle:

Should I Get Rid of my 3rd Car? What is a Modified Endowment Contract and How Does it Work? What Should We Do With All This Extra Money our Church Just Received?

If you'd like to join a show like this and ask your question, sign up to become a Patron! www.radicalpersonalfinance.com/patron

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron Connect with us on the Facebook page https://www.facebook.com/RadicalPersonalFinance or in the Facebook Community Group! https://www.facebook.com/groups/RadicalPersonalFinance/

45. 425-Interview with Mr. Money Mustache! Memorable Moments, Current Projects, Impact on the PF Community
http://radicalpersonalfinance.... download (audio/mpeg, 32.63Mb)

Description:

Today, I bring you an interview with the #1 most requested guest! Mr. Money Mustache himself.

I connected with him while up in Gainesville for Camp Mustache a couple of weeks ago.

This interview isn't about the nuts and bolts of Mustachian philosophy or on how to become financially independent in a few short years; those topics have been well covered elsewhere.

This interview is about his current life, current projects, and things he's excited about at the moment.

Enjoy!

Joshua

Try Hello Fresh! Get $35 off your first order at www.HelloFresh.com with promo code RPF. Support RPF on Patreon! www.radicalpersonalfinance.com/patron

46. 424-Financial Freedom in Just a Few Years with AirBnB Property Management! Interview with Zeona McIntyre
http://radicalpersonalfinance.... download (audio/mpeg, 28.10Mb)

Description:

Every day I mention that little slogan, "financial freedom in 10 years or less" in my intro. It's an aggressive, spicy little slogan. But I probably don't do a good enough job of highlighting what that phrase actually means and how many different ways it can be achieved.

Today I have a really fun profile of someone who has successfully achieved financial freedom in less than 10 years by capitalizing on AirBnB. And doing it with properties that she didn't even own!

Enjoy hearing Zeona McIntyre's story of financial freedom!

Joshua

Zeona's website: https://www.zeonamcintyre.com/ Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin Try a free 34-day trial of the YNAB budgeting software! www.radicalpersonalfinance.com/YNAB Support me directly on Patreon! www.radicalpersonalfinance.com/patron

47. 423-Financial Planning for Your Refugee Status: How to Plan Ahead So You're Not Caught Unprepared as a Refugee
http://radicalpersonalfinance.... download (audio/mpeg, 68.96Mb)

Description:

Perhaps you've noticed that the topic of refugees has been in the news. The recent news sparked this question in the Radical Personal Finance Facebook group.

If I were unexpectedly detained/deported while I was traveling, with the uncertainty of my job or my possessions (or even my bank accounts) being accessible to me or even available to me if I were to somehow return, what would I do, and how would I manage? How might I create a plan to restart my life from scratch if I had to begin again in a different country?

I think it's a fantastic question!

Today I answer this question in 3 parts:

What can you do to prepare for detainment by foreign border guards? What should you do if you're caught up in the mess created by the detainment of other people? What can you do to set yourself up to start a new life in another country if you have to flee in the middle of the night?

Enjoy!

Joshua

Support Radical Personal Finance as a Patron! www.radicalpersonalfinance.com/patron Ideas from the survivalist world on what you can carry with you in an airport carry-on. Witness.org has some great resources on filming protest and human rights violations.

 



48. Out & About: My Interview On the Nomad Together Podcast "A Radical Approach to Finance"
http://radicalpersonalfinance.... download (audio/mpeg, 42.20Mb)

Description:

I'm traveling today (appropriately enough), so I'm not able to serve you with a Q&A show today.

Instead, enjoy this recording of my appearance on the Nomad Together Podcast!

This show originally appeared on September 8, 2016 right here: https://nomadtogether.com/financial/

Joshua



49. 422-Former CEO of Lehman Brothers Opines On Careers, Banking, Money, and Retirement: Interview with Andy Sage
http://radicalpersonalfinance.... download (audio/mpeg, 54.06Mb)

Description:

I have a special treat for you today.

If you had the chance to sit down with the former President and CEO of Lehman Brothers and talk about his career and money, would you take that chance?

Well, I did.

And today I share it with you!

I sat down with my friend Andy Sage here at his home in Palm Beach with the microphones fired up for a discussion about his career in the business world, retirement, banking, and much more.

Enjoy!

Joshua

Find a great financial advisor with Paladin: www.radicalpersonalfinance.com/paladin Get a free 34-day trial of the awesome YNAB budgeting software: www.radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

50. 421-Success --> Failure --> Success, the Hard Way! What You Can Learn About Money and Investing From This Woman Who Lost It All
http://radicalpersonalfinance.... download (audio/mpeg, 45.94Mb)

Description:

I love to learn from people who have experienced great success in their lives.

But sometimes, you can learn more from failure than success!

Today, I've invited a new friend of mine on the show to learn what she learned from her massive failures in the past!

She and her husband were on the fast track toward wealth and financial freedom; they owned a ton of real estate and a thriving business.

And then they lost it all.

Listen to the episode for the gripping account of what that was really like!

Joshua

Support RPF on Patreon! www.RadicalPersonalFinance.com/patron Build Your Budget Right with YNAB! www.radicalpersonalfinance.com/YNAB Use Personal Capital as your financial dashboard! www.radicalpersonalfinance.com/PersonalCapital 

51. 420-Radical Lifestyle Stories: How This Young Couple Increased Their Savings Rate From 8% to 80% of Their Income
http://radicalpersonalfinance.... download (audio/mpeg, 23.64Mb)

Description:

My guests today are Joel and Alexis. I met them while hanging out at Camp Mustache SE in Gainesville and was intrigued by their story!

They went from being a fairly typical young couple with a small savings rate to being radical Mustachians, on track to retire in the next few years!

Enjoy learning how they worked through the problems and challenges to make this change!

Joshua

Find a great financial advisor at www.radicalpersonalfinance.com/paladin Refinance your loans with SoFi and save on the interest! www.radicalpersonalfinance.com/sofi Please support me on Patreon! www.radicalpersonalfinance.com/patron PLEASE TAKE MY QUICK SURVEY! www.radicalpersonalfinance.com/SURVEY Joel and Alexis's brand new website! http://fi180.com/

 



52. 419-Why Car Leasing is Simultaneously Crazy Expensive and Crazy Cheap (and How to Get Out of Your Existing Lease!)
http://radicalpersonalfinance.... download (audio/mpeg, 34.87Mb)

Description:

Car leasing is the most expensive way to operate a vehicle. Car leasing is the cheapest way to operate a new vehicle.

Both of those statements are true.

In today's show I explain why!

And I explain how to get out of a lease if you have one.

Joshua

Time stamps (courtesy of a listener):
0:00 Intro
1:50 Sponsors
4:55 Auto leasing is the cheapest AND most expensive
7:42 “Depreciation” explained
13:38 How does leasing a car work?
16:58 The major problem with leasing, and who leasing is great for
24:26 How to get out of a lease

Book a consulting call with me: www.radicalpersonalfinance.com/phonecall Support me on Patreon: www.radicalpersonalfinance.com/patron https://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html http://www.clark.com/new-car-leasing-101 http://www.swapalease.com/ http://www.leasetrader.com/

53. 418-Saturday Q&A: Your Comments, Suggestions, and Questions
http://radicalpersonalfinance.... download (audio/mpeg, 43.31Mb)

Description:

Quick on-the-road show today to share listeners' suggestions, additional information, feedback, and questions.

Joshua

Timestamps: (thanks to the hard work of a listener!)

0:00 Intro
6:00 Joe recommends a “relationships” budget category, separate from “giving”. (Episode 408)
12:08 Rio asks how to separate personal and business budgets. (Episode 408)
14:36 Guy asks about budgeting for taxes. Should one start the budget using gross or net income? (Episode 408)
18:13 Artem comments about donating a body to science as being different from organ donation. (Episode 409)
20:03 Ross comments that funerals should also be considered a means of closure for the living. (Episode 409)
21:34 Hannah offers insight into the credit score that CreditKarma.com utilizes in its calculations. (Episode 411)
24:35 Guy asks if freezing you credit negates the need for ID protection/insurance services. (Episode 411)
26:38 Kevin offers up a tip of the day. (Episode 411)
27:13 James has concerns about the Personal Capital sponsorship. (Episode 413)
44:24 Advice to podcasters regarding ads, specifically CPA (cost-per-aquisition) vs. CPM (cost-per-thousand).



54. 417-Friday Q&A: Should I Follow Dave Ramsey's Baby Steps and Pay off My House Early, I Had an Unexpected Child...Should I Finish Graduate School or Drop Out to Be a Mom?
http://radicalpersonalfinance.... download (audio/mpeg, 62.99Mb)

Description:

On Fridays I host a live Q&A show! This show is open for Patrons to call in and talk with me about anything they want to.

If you'd like to participate in this call, become a Patron! www.radicalpersonalfinance.com/patron

Today we tackle two questions:

Should I Follow Dave Ramsey's Baby Steps and Pay off My House Early? I Had an Unexpected Child...Should I Finish Graduate School or Drop Out to Be a Mom?

Enjoy!

Joshua

Start your year off right with a budget with YNAB: www.radicalpersonalfinance.com/YNAB Monitor all your investment accounts for free with Personal Capital! www.radicalpersonalfinance.com/PersonalCapital

55. 416-Radical Lifestyle Stories: How Bill Enjoyed a Career of Travel and Adventure and Still Retired at Age 42
http://radicalpersonalfinance.... download (audio/mpeg, 61.10Mb)

Description:

My guest today is a man named Bill. We met at Camp Mustache SE this past weekend.

As soon as I heard a little bit of Bill's story, I knew I needed to get him on the show for you!

Bill is a really neat guy. He enjoyed a very fun and adventurous career wherein he primarily worked for himself. And then he retired early.

He's a man filled with wisdom.

You'll really enjoy this interview.

Joshua

Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron Find a new financial advisor here: www.radicalpersonalfinance.com/paladin Refinance your loans at SoFi! www.radicalpersonalfinance.com/sofi

56. 415-Invest in Your Personal Safety: It's Cheap to Do and the Payoff Can Be Massive
http://radicalpersonalfinance.... download (audio/mpeg, 19.11Mb)

Description:

Today I have a simple--but profoundly important--concept for you to consider and embrace: your personal safety.

There are small safety decisions that you can make that have a huge potential impact for you, both monetary impact and personal impact.

Enjoy!

Joshua

Radical Personal Finance is supported directly by you! www.radicalpersonalfinance.com/patron Try a free 34-day trial of the awesome YNAB budgeting software: www.radicalpersonalfinance.com/YNAB Please take my quick demographic survey! www.radicalpersonalfinance.com/survey

57. 414-Radical Lifestyle Stories: How This Man Gave Up a Modern Life to Build an Off-Grid House, Farm, and Business Making Handcrafted Pine Coffins! Interview with Don Byrne from Piedmont Pine Coffins
http://radicalpersonalfinance.... download (audio/mpeg, 49.16Mb)

Description:

I always keep my eyes out for interesting and unusual lifestyle stories. Last week when I was researching cheap coffin plans, I came across the $5 DIY coffin plans at PiedmontPineCoffins.com.

Upon further reading I became aware that Don and his family live entirely off-grid and that he creates his coffins entirely by hand!

Sounded like a fun story so I invited him on!

Enjoy,

Joshua

Find an awesome financial advisor at www.radicalpersonalfinance.com/paladin Refinance your loans (or get a new one) at www.radicalpersonalfinance.com/SoFi Sign up to support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

58. 413-Why Wait Until You're F.I. to Live Like You're F.I.? My Speech at Camp Mustache SE 2017
http://radicalpersonalfinance.... download (audio/mpeg, 46.21Mb)

Description:

This past weekend I had the privilege of addressing the very fun crowd of hardcore Mustachians gathered in Gainesville, FL for Camp Mustache SE 2017.

(Mustachian = acolyte of the Mr. Money Mustache blog and personal lifestyle and financial philosophy.)

I was invited to give a presentation and I chose for my topic, "Why Wait Until You're F.I. to Live Like You're F.I.?"

This addresses a theme I often see among the hardcore early retirement crowd. The idea is this: "My life stinks right now but it'll all be great after F.I."

But, is that the best way to approach it? Why not recognize that life can be great now and after F.I.?

Enjoy!

Joshua

Please take my 20-second demographic survey! www.radicalpersonalfinance.com/survey Refinance your loans with SoFi and save money! www.radicalpersonalfinance.com/sofi Personal Capital is the world's best financial dashboard. And it's free! www.radicalpersonalfinance.com/personalcapital Support RPF on Patreon! www.radicalpersonalfinance.com/patreon

 



59. 412-Friday Q&A: How Can I Gain Enough Experience to Use my CFP Designation, Can I Unwind My Parents Reverse Mortgage, How Do I Engage In A Meaningful Goal-Setting Process After a Layoff?
http://radicalpersonalfinance.... download (audio/mpeg, 57.80Mb)

Description:

On Fridays we do a live Q&A show! If you'd like to join me on the next one, sign up to support the show as a patron! www.radicalpersonalfinance.com/patron

Today we cover:

How Can I Gain Enough Experience to Use my CFP Designation? Can I Unwind My Parents Reverse Mortgage? How Do I Engage In A Meaningful Goal-Setting Process After a Layoff?

Enjoy!

Joshua

Take my 20-second demographic survey at www.radicalpersonalfinance.com/survey Find a great financial advisor at www.radicalpersonalfinance.com/paladin Refinance your loans at an awesome great rate at www.radicalpersonalfinance.com/sofi

60. 411-New Year Homework: How to Check, Monitor, and Freeze Your Credit Score for Free
http://radicalpersonalfinance.... download (audio/mpeg, 21.76Mb)

Description:

The health of your credit score is an important subject. It's important that you keep your credit report squeaky clean and your credit score high.

Today, I'm going to give you some simple, free tools to do so.

How to check your credit reports for free How (and why) to freeze your credit reports How to monitor your credit scores for free

Joshua

Please take my 20-second demographic survey! www.radicalpersonalfinance.com/survey Find an awesome financial advisor near you! www.radicalpersonalfinance.com/paladin Get a free, 34-day trial of the YNAB budgeting software I use. www.radicalpersonalfinance.com/YNAB Check your credit reports once each year, for free: www.annualcreditreport.com Clark Howard's credit freeze guide: http://www.clark.com/credit-freeze-and-thaw-guide Monitor your credit score for free: www.creditkarma.com

61. 410-Dow 20,000? What Does it Mean and What Should You Do About It?
http://radicalpersonalfinance.... download (audio/mpeg, 42.42Mb)

Description:

The Dow Jones Industrial Average has been steadily flirting with an all-time record of 20,000 points.

I certainly expect it to cross that threshold any day.

But, so what?

Today I tackle these three questions:

What does a 20,000 point DJIA mean? What does it mean to you? What should you do about it?

Enjoy!

Joshua

Please take my super-quick demographic survey. You can do it right on your phone! www.radicalpersonalfinance.com/survey Set up your Personal Capital dashboard for FREE! www.radicalpersonalfinance.com/personalcapital Find a great financial advisor at Paladin Registry! www.radicalpersonalfinance.com/paladin

62. 409-How to Get Yourself Put 6 Feet Under Dirt Cheap!
http://radicalpersonalfinance.... download (audio/mpeg, 64.90Mb)

Description:

Ain't it strange how so many of the universal human experiences cost so much?

Childbirth. Marriage. Getting Old. Death. All of them can cost a bunch of money.

But does it have to be that way? Are there alternatives?

Yes.

Guess what: kicking the bucket doesn't necessarily have to break the bank!

There are ways to do it cheaper. If you want to.

Today I tackle funeral expenses. You might not be able to benefit from the savings, but at least your family can have a little more cash left over to celebrate your life!

Enjoy,

Joshua

$5 buys you a set of plans to build a coffin for

63. 408-Budget Categories for the New Year that Actually Matter
http://radicalpersonalfinance.... download (audio/mpeg, 68.95Mb)

Description:

What's the point of budgeting? Isn't it supposedly supposed to help you get richer?

Well, one way to make budgeting matter is if your budget categories actually help you to understand what's happening with your money.

Today, I walk you through some of my personal budget categories and explain how they impact my spending decisions.

I don't think you'll find these budget categories in any pre-existing software. But I do think they'll be really useful to you!

Joshua

246-You Need a Budget and Here’s the Best Way for You to Make One! Interview with Jesse Mecham, Founder of YNAB 273-Three Budgets You Should Establish for 2016: Time, Money, and Food Try YNAB free for 34 Days! www.RadicalPersonalFinance.com/YNAB Use Libsyn to host your very own podcast! www.libsyn.com Get first month free with coupon code "radical." Support RPF on Patreon! www.radicalpersonalfinance.com/patron

64. 407-Motorhomes, RVs, Travel Trailers and You: Radical Tips, Ideas, and Good Advice so You Don't Get Taken
http://radicalpersonalfinance.... download (audio/mpeg, 80.55Mb)

Description:

I think RVs are awesome. In fact, my family just got back from a very fun 2-week RV trip last week!

But, RVs can also be a major money drain. Much like boats, it's easy to overestimate the pleasure you will get from it and underestimate the hassle.

In today's show, I share with you some of my ideas and thoughts on RVs:

Where they work and where they don't Things to consider and keep in mind before you buy Advantages and disadvantages of the various types Tips for buying smart

Enjoy the show!

Joshua

Start your budget for 2017 today! www.radicalpersonalfinance.com/YNAB Follow through on your financial resolutions by finding a great financial advisor: www.radicalpersonalfinance.com/paladin Book a consulting call with me: www.radicalpersonalfinance.com/phonecall Support RPF on Patreon www.radicalpersonalfinance.com/patron

65. 406-My Plans for RPF in 2017
http://radicalpersonalfinance.... download (audio/mpeg, 35.66Mb)

Description:

Hey Radicals!

Happy new year!

I was planning to come into 2017 with a bang, but a stomach bug turned the bang into a fizzle for me. Oh well!

You'll be hearing some changes to RPF in coming days. I want you to know about those in advance, so tune in for a quick chat today!

Joshua



66. 405-The Health Insurance Series Part 6: HCSM Wrap-Up, Self-Insurance, Direct Primary Care/Concierge Care, Catastrophic Coverage, Dread Disease/Critical Illness Insurance, Doctors on Call
http://radicalpersonalfinance.... download (audio/mpeg, 43.99Mb)

Description:

I missed a couple of important points on the previous show on Health Care Sharing Ministries (HCSMs). Today we wrap those points up with a quick discussion of:

catastrophic protection deductibility HSA compliance pre-existing conditions

We also discuss:

Self-Insurance Direct Primary Care/Concierge Care Catastrophic Coverage Dread Disease/Critical Illness Insurance Doctors on Call

Enjoy!

Joshua

Start your new year off right by mastering your budgeting. www.radicalpersonalfinance.com/YNAB Support RPF on Patreon! www.radicalpersonalfinance.com/patron Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

 



67. 404-The Health Insurance Series, Part 5: Health Care Sharing Ministries (this is how we pay for our health care costs in the Sheats family)
http://radicalpersonalfinance.... download (audio/mpeg, 80.34Mb)

Description:

Today I tell you why we don't have health insurance in my family and what we do instead! We continue our health insurance series today with a discussion of Christian Health Care Sharing Ministries.

Perhaps the Health Care Sharing Ministries shouldn't be in this series because they are not actually health insurance.

But, if you're a participant in an approved organization, you qualify for an exemption to the Obamacare tax penalty (for not having health insurance).

Personally, I love the concept of these organizations and I have nothing but good things to say about my experience with Samaritan Ministries (which is the one that my family participates in).

In today's show I give you a background of these companies and my own experience and opinion of them.

There are 5 major options for you:
1. Samaritan Ministries http://samaritanministries.org/ 
2. Christian Healthcare Ministries http://www.chministries.org/ 
3. Medishare – Christian Care Ministry https://mychristiancare.org/medi-share/ 
4. Liberty Health Share http://www.libertyhealthshare.org/ 
5. Altrua Health Share http://altruahealthshare.org/ 

Enjoy the show!

Joshua

p.s., if you join Samaritan Ministries, please remember to tell them that “Joshua Sheats” sent you so that I can get a small discount!

Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin Listen to the Jack Waymire interview here: www.radicalpersonalfinance.com/284 Join our RPF Facebook community! https://www.facebook.com/groups/RadicalPersonalFinance/ Please leave an iTunes review for me! https://itunes.apple.com/podcast/radical-personal-finance/id896153632?mt=2&ls=1 Please support me financially on Patreon. www.radicalpersonalfinance.com/patron Book a consulting call with me here: www.radicalpersonalfinance.com/phonecall



68. 403-The Health Insurance Series, Part 4: How to Avoid (and Evade) the Obamacare Tax Penalty
http://radicalpersonalfinance.... download (audio/mpeg, 67.83Mb)

Description:

One of the major burdens that the passage of the Affordable Care Act placed upon us is that we are required by law to maintain health insurance coverage. Or, if we don't, we have to pay a tax penalty.

But, as with most taxes, the Obamacare tax penalty is, in some ways, optional.

In today's show I teach you all of the ways that I know to escape it!

We cover:

How to calculate the tax penalty What happens if you don't pay the penalty All of the exemptions that you can qualify for

Enjoy!

Joshua

Book a consulting call with me here: www.radicalpersonalfinance.com/phonecall Support RPF on Patreon! www.radicalpersonalfinance.com/patron Please leave a review for my show on iTunes! https://itunes.apple.com/podcast/radical-personal-finance/id896153632?mt=2&ls=1

69. 402-How to Raise Money for your Company Without a Bank or VC! (And Perhaps Find Your Next Big Investment Winner): Interview with Nathan Rose, Author of "Equity Crowdfunding: The Complete Guide for Startups and Growing Companies"
http://radicalpersonalfinance.... download (audio/mpeg, 55.64Mb)

Description:

If you're building a business, you may reach a point in time at which you need more money to expand your operation than you're currently receiving from your revenues.

Traditionally, this is where you would either go out and solicit more investors to back you or perhaps go and borrow money from a bank.

But, thanks to major changes in the law, there's another option now available to you: equity crowdfunding.

Equity Crowdfunding is a way for companies to solicit investments from individuals similar to how product crowdfunding sites like Kickstarter, et al, solicit sales from individuals.

There are tremendous possibilities here for you as a business owner.

But, don't skip this show if you simply don't own a business.

You may be interested in this topic from the perspective of a business owner! You can participate as an investor with these companies yourself!

Enjoy the show,

Joshua

Get Nathan's Book on Amazon: "Equity Crowdfunding: The Complete Guide for Startups and Growing Companies" Or get a free sample chapter from his website: http://assembleadvisory.com/book/ Please support me on Patreon! www.radicalpersonalfinance.com/patron

 



70. 401-Annual Income Goals are for Dreamers; Hourly Income Goals are for You (If You're Serious About Your Wealth)
http://radicalpersonalfinance.... download (audio/mpeg, 22.98Mb)

Description:

So, you set a goal for your income next year. Great! Good job!

That's a nice place to start.

But it does nothing for you if you don't translate it into an hourly income goal.

Listen to the show to find out why and how.

Joshua

Join the RPF Facebook group! (It's free now!) https://www.facebook.com/groups/RadicalPersonalFinance/ If you'd like to calculate your hourly wage, try this quick little calculator I made: https://docs.google.com/spreadsheets/d/1de4hvloZAoAXJCOsE9DZuRAAeNdO2skAIIxhR6lxGYU/edit?usp=sharing Please support me on Patreon! www.radicalpersonalfinance.com/patron

71. 400-The First Two Weeks of December Are Crucial For Your 2017 Success
http://radicalpersonalfinance.... download (audio/mpeg, 18.39Mb)

Description:

I learned the hard way not to wait until the end of December to think about how my past year went and how I wanted my next year to go.

Don't wait.

The first two weeks of December are your golden time for your year-end review process.

Details in the show!

Joshua

Last-minute tax planning ideas for you: https://radicalpersonalfinance.com/last-minute-tax-planning-ideas-to-save-you-money-rpf0121/ Take Michael Hyatt's awesome Life Score Assessment to help give you clarity on your success in 10 areas of your life: http://bestyearever.me/a18455/2017assessment

72. 399-Thanksgiving Greetings and Encouragement
http://radicalpersonalfinance.... download (audio/mpeg, 22.06Mb)

Description:

Happy Thanksgiving Day, Radicals!

Joshua



73. 398-How to Invest In Your Local Community for Financial Profit and Community Gain: Interview With Businessman and Investor Tim Yarbrough
http://radicalpersonalfinance.... download (audio/mpeg, 67.89Mb)

Description:

One of the thorny research projects which I'm personally undertaking is to study the most effective ways to invest my money and my life into my local community without passing through the financial services intermediaries.

Friends, it ain't easy.

Our entire world is wired to go through the mainstream banking/investment/etc. industry. And it's not easy to break free.

But, I'm convinced that it is possible.

So, I'm working on it.

And today, I've invited a new friend of mine on the show to explain how he does it.

Tim Yarbrough is an entrepreneur and investor from Alabama who has been in business for over 40 years. He has personally invested in dozens of companies there in his community.

Today, he shares his wisdom from 40 years of experience with you and with me.

Enjoy!

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

74. 397-The Health Insurance Series, Part 3: The Premium Tax Credit (PTC): What It Is, How It Works, and How to Maximize Your Cash From It
http://radicalpersonalfinance.... download (audio/mpeg, 31.92Mb)

Description:

Today we continue our health insurance series with a discussion of the Premium Tax Credit.

The Premium Tax Credit is available for those whose income is between 100% and 400% of the Federal Poverty Level who purchase their health insurance through a government-run marketplace.

The dollar amounts involved can be substantial if you're in that range.

Pay attention,

Joshua

IRS Publication 974: Premium Tax Credit Michael Kitces article on the Premium Tax Credit Support RPF on Patreon: www.RadicalPersonalFinance.com/patron Book a consulting phone call with me: www.RadicalPersonalFinance.com/phonecall

75. 396-Job --> High-Paying Job --> Savings --> Real Estate Investment --> Business --> Financial Freedom: Interview with Joe Fairless, Host of the Best Real Estate Investing Advice Ever Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 44.32Mb)

Description:

Today I've invited real estate investor Joe Fairless on the show. And yes, we chat about real estate.

But, I don't have him on to speak about real estate exclusively.

Rather, I want you to pay careful attention to how he got into real estate in the first step.

Pay attention to the arc of his overall career.

And then model him.

Joshua

Joe's website: www.joefairless.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

76. 395-The Health Insurance Series, Part 2: Why I'm Opposed to Obamacare (And Will Probably Be Opposed to Trumpcare When It Comes Along)
http://radicalpersonalfinance.... download (audio/mpeg, 56.29Mb)

Description:

Today, I share my thoughts on the Trump/Clinton election and connect it with a discussion of why I'm philosophically and morally opposed to Obamacare. (Hint: it's not because I hate sick people.)

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a consulting phone call with me! www.radicalpersonalfinance.com/phonecall

77. 394-On Voting, Elections, & Presidential Politics: 10 Things You Can Do That Will Actually Make a Difference in Your Life and Community (aka, Joshua's Antidote to Your Election Fever)
http://radicalpersonalfinance.... download (audio/mpeg, 59.71Mb)

Description:

In case you haven't heard, this Presidential election is the most important one in your lifetime. And, it will retain that title until November 9 when the 2020 election will take over as reigning champ.

Not only is this the most important election of your lifetime, but if the wrong person is elected, we literally face the end of the world as we know it!

So, what are you to do?

Well, today's show contains my thoughts and advice around presidential politics as well as 10 things you can do that will actually make a difference after you've cast your vote for President of the United States.

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron

78. 393-The Health Insurance Series, Part 1: Your Health Is More Important Than Your Health Care or Health Insurance
http://radicalpersonalfinance.... download (audio/mpeg, 32.62Mb)

Description:

Today we embark on our journey through the wild and woolly world of health insurance.

This topic is utterly frustrating to navigate and incredibly divisive in philosophy.

Obviously, it's a perfect topic for Radical Personal Finance!

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

79. 392-How to Fight Local Gov to Lower Your Local Tax Bill (aka, An Antidote to Your Current Political Depression): Interview with Paul Dorr from RollBackLocalGov.com
http://radicalpersonalfinance.... download (audio/mpeg, 55.13Mb)

Description:

If you look at all of your expenditures and methodically add up all of the money you've spent in the last year on taxes (of all types), you will likely find that taxes are one of your largest spending categories.

So, in our constant quest to lower expenses, what can we do about that problem?

Well, you can engage in good, proactive tax planning and tax avoidance.

And, we've talked about that extensively here at #RadicalPersonalFinance.

But, have you ever thought about getting involved at the root of the problem? In working to roll back the taxes levied upon you at the seat of government?

Most of us haven't.

And the reason we haven't is that we are trained to automatically revert to fighting about national politics.

I'm convinced that national politics is utterly hopeless--at least for now. You have no voice, no power, and your involvement and even your vote are essentially meaningless.

But, take courage.

That doesn't mean that all is lost.

You can make a huge difference if you get involved in local politics.

Your voice and your work and your vote can make a huge difference at the local level.

My guest today is Paul Dorr. He is a former bank owner but he's now a political consultant.

He specializes in helping ordinary people organize themselves politically in order to defeat local tax increases. And he's very good at his job!

He's here today to share with us some of his tips and techniques as well as his personal story.

I think you'll find today's show inspiring and helpful if you care about the cause of liberty.

And it might even help you lower your tax bill.

Enjoy!

Joshua

Paul's website: www.RollBackLocalGov.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

80. 391-A Few Useful Tax-Planning Techniques: Interview with Craig Cody, CPA, Co-Author of "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss"
http://radicalpersonalfinance.... download (audio/mpeg, 33.17Mb)

Description:

My guest today is Craig Cody, CPA, co-author of the book "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss."

We discuss:

Paying your paying your kids in your business Renting your house out to your business Cost-segregation studies And more!

Enjoy!

Joshua

Craig is offering a free copy of "Secrets of a Tax Free Life" to all listeners here: www.craigcodyandcompany.com/rpf Craig's company phone number is 516-869-4051 Support RPF on Patreon: www.radicalpersonalfinance.com/patron Schedule a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

 



81. 390-How (and Why) to Engineer Your Layoff! Interview with Sam, the Financial Samurai
http://radicalpersonalfinance.... download (audio/mpeg, 72.28Mb)

Description:

Have you ever thought about engineering your layoff from your job as a means to advancement to your next opportunity?

After all, if you get laid off instead of quitting, there are a whole host of benefits to you. (severance, health insurance, etc.)

But, how do you do it?

And, is there a way to do it ethically?

My guest today has written the book on the subject.

His name is Sam and he is the writer behind the popular personal finance blog www.FinancialSamurai.com and his book is entitled "How to Engineer Your Layoff: Negotiate a Severance and Be Free!"

Enjoy the show.

Joshua

Buy Sam's book "How to Engineer Your Layoff: Negotiate a Severance and Be Free!" here: www.radicalpersonalfinance.com/layoff Sam's website: www.RadicalPersonalFinance.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

 



82. 389-Banish These Two Common Phrases from Your Vocabulary to Take Back Control of Your Life and Your Wealth
http://radicalpersonalfinance.... download (audio/mpeg, 15.18Mb)

Description:

There are two phrases that we commonly use that are very destructive to your personal empowerment.

I recommend that you identify them and remove them from your vocabulary.

Try it!

You'll thank me later.

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron Book a phone call with me: www.radicalpersonalfinance.com/phonecall

83. 388-Drunkenness Will Destroy Your Wealth. Don't Participate!
http://traffic.libsyn.com/radi... download (audio/mpeg, 31.75Mb)

Description:

The title says it all.

Joshua

p.s., Sorry about the double show on the last episode. I am presently without a working computer, but I'll fix it ASAP. 



84. 387-You Should Consider Buying a Chevy Volt as your Next Car. Here's Why!
http://radicalpersonalfinance.... download (audio/mpeg, 17.71Mb)

Description: From time to time we get buying opportunities that emerge from a wrinkle in the marketplace. I think I see an opportunity right now for those of you who are in the market for a new car with the 2017 Chevy Volt. Details in the show! Joshua

85. 386-Don't Get Ripped Off: You Should Not Upgrade Your Car in Order to Get Better Gas Mileage!
http://radicalpersonalfinance.... download (audio/mpeg, 57.44Mb)

Description:

I shudder and cringe when I hear someone who's thinking about upgrading their car because the new one gets better gas mileage.

I don't often yell, but please indulge me for a moment. YOU SHOULD NOT UPGRADE YOUR CAR IN ORDER TO GET BETTER GAS MILEAGE!

And, I'll prove it to you.

Listen to this show. And then, download the free calculator I built years ago and plug in your own numbers to see whether you should upgrade or not.

I think you'll be glad you did.

Joshua

Here's the link to my calculator. It's a simple Excel file I built many years ago: http://traffic.libsyn.com/radicalpersonalfinance/Joshuas_Fuel_Mileage_Savings_Calculator.xls  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

86. Audio of Steven Harris's Family Emergency Preparedness Class
http://radicalpersonalfinance.... download (audio/mpeg, 78.32Mb)

Description:

This is an audio file containing Steven Harris's free Family Emergency Preparedness Class.

This class contains very useful and practical information regarding emergency preparedness.

Some of the material is becoming dated.

For all of Steven's current work, visit his website www.Steven1234.com and follow the appropriate links.

Joshua



87. Audio of Wendy DeWitt's "Sensible Food Storage" Seminar
http://radicalpersonalfinance.... download (audio/mpeg, 53.90Mb)

Description:

This is an audio-only version of Wendy DeWitt's "Sensible Food Storage" seminar. This is the most practical, complete seminar on home food storage I've ever been able to find.

You can view the original video version of this file here: https://youtu.be/GY5kiCzaeYc

You can also download the PDF handouts of this seminar here with these links. 

This handout contains the instructions for how to do Wendy's system: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Under_the_Sun_by_Wendy_DeWitt.pdf 

This handout contains Wendy's sample meals with recipes and amounts calculated out for you: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Made_Simple_by_Wendy_DeWitt.pdf 



88. 385-A Sensible Approach to Food Insurance, aka, Home Food Storage (2 of 2)
http://radicalpersonalfinance.... download (audio/mpeg, 28.11Mb)

Description:

If you were unable to buy food for your family for the next couple of weeks, would you and your family be well-fed or would you be quite hungry at the end?

Today, we tackle the question of food insurance with a discussion of practical steps to take to build your own reserves.

I think it's very wise for you to make sure that you always have enough food in your house to feed your family for at least a few weeks, even better a few months, and perhaps even a year or more.

Since you can fit a year's supply of food under a twin bed, there's little reason not to plan ahead and store up some food.

But, it's tough to know how to do this.

I've divided this topic into two parts. The first show (#384) had a bit of the philosophy behind food storage and reasons for you to store up food.

Today's show (#385) has the practical advice for how to actually do it.

Enjoy!

Joshua

Wendy DeWitt's Sensible Food Storage Seminar:  Video: https://youtu.be/GY5kiCzaeYc  Audio: http://traffic.libsyn.com/radicalpersonalfinance/Sensible_Food_Storage_Seminar_by_Wendy_DeWitt.mp3  PDFs of Wendy's handouts: These are the notes from Wendy's seminar: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Under_the_Sun_by_Wendy_DeWitt.pdf  These are Wendy's personal recipes for her own food storage: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Made_Simple_by_Wendy_DeWitt.pdf  Support me on Patreon: www.radicalpersonalfinance.com/patron Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall 

89. 384-A Sensible Approach to Food Insurance, aka, Home Food Storage (1 of 2)
http://radicalpersonalfinance.... download (audio/mpeg, 42.00Mb)

Description:

If you were unable to buy food for your family for the next couple of weeks, would you and your family be well-fed or would you be quite hungry at the end?

Today, we tackle the question of food insurance. In short, I think it's very wise for you to make sure that you always have enough food in your house to feed your family for at least a few weeks, even better a few months, and perhaps even a year or more.

Since you can fit a year's supply of food under a twin bed, there's little reason not to plan ahead and store up some food.

I've divided this topic into two parts. This show (#384) has a bit of the philosophy behind food storage and reasons for you to store up food.

The next show (#385) has the practical advice for how to actually do it.

Enjoy!

Joshua

Support me on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall 

90. 383-Budget for the Accessories
http://radicalpersonalfinance.... download (audio/mpeg, 34.93Mb)

Description:

When I make a significant purchase, I always try to pay attention to the process of that purchase.

I analyze my psychology and desire for the item, I consider carefully the decision process, and I consider the usefulness I get from the item and how much I enjoy and utilize it.

One major lesson I've learned is to always make sure to budget for the accessories to enhance the usefulness of an item.

Many times, the accessories you purchase for an item will make a dramatic difference in your ability to enjoy and use the item.

Detailed discussion of this concept in today's show!

Joshua

Support me on Patreon! www.radicalpersonalfinance.com/patron Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

91. 382-How to Remove Your Adult Children from Suckling at Your Financial Teat (aka, How to Get Your Boomerang Kids to Grow Up and Leave!)
http://radicalpersonalfinance.... download (audio/mpeg, 44.84Mb)

Description:

I recently read an article from the New York Times called, "It's Official: The Boomerang Kids Won't Leave." The story is a familiar one: adult children fall on hard times after college and need to move home in order to make ends  meet.

This is an experience that many parents have had.

The challenge is this: how do you get the kids to leave? What can and should you be doing in order to get them to a place of autonomy?

In today's show we tackle this subject.

We also cover some ideas for younger parents to implement in order to help your children avoid the boomerang effect in the first place.

Joshua

Support RPF on Patreon. www.radicalpersonalfinance.com/patron Would you like to book a consulting call with me? Book here: www.radicalpersonalfinance.com/phonecall 

 



92. 381-Simple, Cheap, Practical Tips to Help You Prepare for a Coming Hurricane
http://radicalpersonalfinance.... download (audio/mpeg, 62.02Mb)

Description:

As I release today's show, Hurricane Matthew is threatening the east coast of Florida and the Carolinas. (Today's show is not specific to Hurricane Matthew. The content is useful in any natural disaster or hurricane. But I wanted to get this information to you in a timely manner so that those of you in the warning cone have an opportunity to prepare.)

Today's show is very practical. I cover:

The most important need to address in advance of the storm: the ability to keep your phone and communications working without electricity. How to think about and plan for an evacuation plan. Simple and cheap ways to handle water and food when you have no power. How to use your car as a generator. And more!

Enjoy the show! 

Joshua

RESOURCES:

You need to keep your phone functional and charged at all times. The easiest, simplest way to do this is by using an external backup battery. There are varying sizes available: I own the Kmashi 15000mAH External Battery Power Bank. It's the cheapest I've found ($14 on Amazon for the black version) and should give you 5+ charges for your phone. It has a 4-star rating on Amazon with about 7,700 reviews. I've had no problem with it. http://rpf.link/2dO4v0Y I also own the RAVPower 13000 mAH External Battery Power Pack. It works perfectly fine and is smaller and lighter than the Kmashi above. (This is the one that I prefer to carry in my pocket while traveling. The Kmashi above is too big to be comfortable in my pocket.) It should get you about 4 charges. But, at $27 on Amazon, it doesn't give you as much bang for the buck. http://rpf.link/2dP9SJF  Steven Harris has more information on keeping your cell phone charged at his excellent site: www.cellphone1234.com I chose to buy different batteries than he recommended because they were cheaper (but still highly rated) when I was shopping. The Berkey water filter system that we own and use is this one: http://www.directive21.com/products/royal-berkey-system/ (This is where we bought it from--Directive 21 did a fine job with service.) There are other sizes available. For information on how to power your house from your car, listen to Steven Harris's free class here at http://www.solar1234.com/  The Eneloop rechargeable batteries that I use in all of my flashlights, kids toys, etc. are these on Amazon: http://rpf.link/2dbuiLA I use this 8-cell Powerex charger to keep them all topped up. http://rpf.link/2dXXdHc  The car battery charger that I recommended is from CTEK. http://www.ctek.com/  For more great, simple, practical emergency preparedness tips, check out all of Steven Harris's websites here: http://www.steven1234.com/ 

 

 



93. 380-Practical Advice for Employees to Dramatically Improve the Trajectory of Your Career
http://radicalpersonalfinance.... download (audio/mpeg, 60.15Mb)

Description:

Are you an employee?

Want to make more money?

Want to have a tremendous career?

Listen to this show.

Joshua

Patronize me: www.radicalpersonalfinance.com/patron Talk to me: www.radicalpersonalfinance.com/phonecall 

94. 379-The Perils of Success (and Why I'm Taking the Filter off the Content of RPF in Order to Maintain and Grow my own Success)
http://radicalpersonalfinance.... download (audio/mpeg, 75.21Mb)

Description:

On today's show I cover four of the major perils of success.

Both failure and success have danger points. You might think a lot about the dangers of failure. But are you aware of the perils of success?

Have you thought about what might happen to you as you continue to achieve success?

In today's show, I share with you four dangers of success...and I've fallen prey to all four of them.

Then, after that discussion, I share with you how--and why--I'm removing some of the filters that I've kept on the content of RPF.

Not a lot is changing with regard to what I actually produce on RPF. But my own mental decisions are changing and I am intentionally giving myself more freedom to tackle difficult subjects.

Details in the show!

Joshua

As mentioned in the show. Please:

Write me an email with "product question" in the subject line and ask me any question that you have. Or, just tell me the subject/topic/question you'd like me to do more content on. Will you please review the show on whatever podcasting platform you use? iTunes, Stitcher, App Store--all are fine. One or two sentences is perfect and you can do it right on your phone. Please support the show on Patreon. This is the best way to maintain a free and independent voice. www.radicalpersonalfinance.com/patron  Do you have a specific question you'd like my advice on? Book a consulting call here: www.radicalpersonalfinance.com/phonecall 

95. 378-You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life: Interview with Author Jason Vitug from Phroogal.com
http://radicalpersonalfinance.... download (audio/mpeg, 56.07Mb)

Description:

My guest today is Jason Vitug. Jason has a very interesting story of beginning at the bottom of the work-world, advancing quickly to company leadership, and then walking away to pursue travel and personal business projects that seem to integrate more with his life vision.

Oh, and he wrote a book and just finished a 54-city speaking tour.

Enjoy the interview!

Joshua

Jason's book: "You Only Live Once: the Roadmap to Financial Wellness and a Purposeful Lifehttp://rpf.link/2d7tsSN  Jason's websites: www.JasonVitug.com and www.Phroogal.com and www.RoadToFinancialWellness.com  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

96. Out & About: The Stages of Financial Independence-My Appearance on the Afford Anything Podcast with Paula Pant
http://radicalpersonalfinance.... download (audio/mpeg, 58.73Mb)

Description:

I recently appeared on Paula Pant's Afford Anything podcast for an in-depth discussion of the stages of financial independence.

The interview was one of the favorite interviews I've done in a while and I think you'll really enjoy it.

Enjoy!

Joshua

The original post: http://podcast.affordanything.com/stages-financial-independence-joshua-sheats/ 

97. Quick Announcement: Meet Up With Me in San Diego, CA This Week at #FinCon16
http://radicalpersonalfinance.... download (audio/mpeg, 3.03Mb)

Description:

Hey Radicals!

I'm heading to California today for #FinCon16. I'd love to connect with as many of you as possible while I'm there!

I'll be available on Thursday, Friday, and Saturday (9/22 to 9/24).

Reach out to me on Twitter and let's schedule a time to connect! https://twitter.com/JoshuaSheats

Joshua



98. 377-Should You Go to Graduate School as a Simple Way of Increasing Your Income? Interview with Matt Miner from Design Independence
http://radicalpersonalfinance.... download (audio/mpeg, 57.96Mb)

Description:

We know that it's worthwhile to increase income in order to reach our financial goals more quickly. But how can we do that?

One proven way is to get advanced education by attending graduate school.

My guest today is Matt Miner. He followed the time-worn path of attending graduate business school as a way of significantly increasing his earnings and he's learned from that experience. He's also studied the issue extensively, so he brings both personal experience and study to this question.

In this show we discuss:

Matt's personal path to improved finances His advice on how to answer the question of, "Should I go to graduate school?" Various options and ways to get the thing done!

Enjoy the show!

Joshua

Matt's website: http://www.designindependence.com/ Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Sign up for a consulting call with me: www.radicalpersonalfinance.com/phonecall 

99. 376-My Suggestions for How This 13-Year-Old Student Can Be Financially Independent at 30
http://radicalpersonalfinance.... download (audio/mpeg, 74.84Mb)

Description:

I received the note below from a listener of my show and today I answer it!

Enjoy,

Joshua

-----

Hi Mr. Sheats!

I'm a home educated 13-year-old fan of your podcast.  I love how in-depth, interesting, and out-of-the-box it is.  I used to listen to the Dave Ramsey Show a lot, but that got really bland, so my dad suggested your show.  I love it!
I've been listening pretty much daily since January of this year, and you've inspired me to become financially independent before age 30.  Right now, I'm saving 70% of my income from working at my parents' dental office and trying to develop skills that will get me closer to that goal (such as math, coding, and finance, all things I love learning about and think have the best potential to help me become financially independent).

Do you have any advice for a thirteen-year-old listener like me?

As for a specific question, I was wondering whether you would recommend I continue doing high school at home or attending our local public school.

I'm really interested in taking CLEP classes since those could help me finish college faster.

As far as I can tell, the pros of public school are:

I'm pretty extroverted, so being able to hang out with friends every day sounds fun (although I'm sure high school isn't just hanging out!).
The high school in our district is ranked 10/10, so it's supposed to be a good school academically. It might be a good way to get a feel for going to a "normal" school and make getting used to staying at the teacher's pace, and other skills I might need for college easier. The transcript is automatic, but in home education, you have to detail everything yourself and make sure it fits with requirements.


Cons:

I love being home educated! I'm an independent learner, and I can learn faster just reading something and taking a test than sitting in class for an hour. I'd probably have less time in a public school as opposed to home education.  Other than hanging out with friends, writing my fantasy novel, and playing music, I want to spend my free time as a homeschooler learning skills, experimenting with starting a business, and studying CLEP. I'd have to stick with the class, but with home education, everything's based on your pace, so you can go faster. I love how we can take vacations or days off sporadically, but in public school, with such long summer breaks, etc, you can't miss a day comfortably. I'd have to wake up early (;

Thanks for all your time!

Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall 

 



100. 375-The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life; Interview with Author Lauren Greutman (I Am That Lady from IAmThatLady.com)
http://radicalpersonalfinance.... download (audio/mpeg, 60.03Mb)

Description:

My guest today is Lauren Greutman. Lauren has been on RPF before (with her husband Mark) way back at Episode 108.

But today she's back today as part of the book launch tour for her brand-new book: The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life.

In today's episode, we cover: 

Lauren's personal story and her highs and lows Lauren's systematic, step-by-step advice for how to overcome a spending addiction And more!

Enjoy the interview!

Joshua

Lauren's book on Amazon: The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life http://rpf.link/2cqaNj8  Lauren's website: www.IAmThatLady.com  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Want to schedule a consulting call with me? Book here: www.radicalpersonalfinance.com/phonecall 

 



101. 374-Friday Q&A: How Should I Structure My Purchase of an iPhone, What Should I Think About When Buying a House, How Many Credit Cards Should I Have For Optimal Living, How Should I Value My Defined-Benefit Pension Plan
http://radicalpersonalfinance.... download (audio/mpeg, 61.51Mb)

Description:

On Fridays, we do Q&A. Today we cover: 

How Should I Structure My Purchase of an iPhone? What Should I Think About When Buying a House? How Many Credit Cards Should I Have For Optimal Living? How Should I Value My Defined-Benefit Pension Plan

If you'd like to join for a future Q&A call, join here: www.radicalpersonalfinance.com/patron 

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron Get a personal consulting call with me: www.radicalpersonalfinance.com/phonecall 

102. 373-An Introduction to Types of Business Entities: Sole Proprietorship, Partnership, Limited Liability Company (LLC), Limited Liability Partnership (LLP), C Corporation, S Corporation
http://radicalpersonalfinance.... download (audio/mpeg, 61.92Mb)

Description:

You want to start a business...so, you have to decide what type of business entity to use, right? 

Well, yes and no. Yes in the sense that it is an important decision. But no in the sense that you should first focus on how you're going to build the business...and you should probably just start the business and see if it will work.

But, it is an important decision. And there is a lot of confusion over all these entities.

Today we cover these entities in an introductory capacity:

Sole Proprietorship Partnership C Corporation S Corporation Limited Liability Company (LLC) Limited Liability Partnership (LLP)

My intention is not to give you all the details but simply an overview so you will feel more confident soliciting the professional advice that you need for your specific situation.

Joshua

Need a financial advisor? Start your search here: www.radicalpersonalfinance.com/paladin  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

 



103. 372-The Power of Cause and Effect: If you Want to Experience an Effect, You Must Initiate the Sequence of Causes That Lead to Its Outcome
http://radicalpersonalfinance.... download (audio/mpeg, 37.75Mb)

Description:

Whatever begins to exist has a cause.

This fundamental truth governs much of your thinking. And yet, have you stopped to consider its application and how you can adjust this to your benefit?

The law of cause and effect is operational in your daily life. 

And yet, many people focus on the things they want (the effect) without every once stopping to think about how to get there! They don't think about the causes that are necessary to achieve a certain effect!

In today's show, I give you a series of very practical lines of inquiry into financial causes and effects. These ideas will help you to look at your own situation with a fresh vision and to create a customized plan that will help you go from where you are to where you want to be.

Joshua

You Need A Budget! Try this system free for 30 days: www.radicalpersonalfinance.com/ynab  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Want to have a consulting phone call with me? www.radicalpersonalfinance.com/phonecall 

104. Out & About: Everything Financial Radio Appearance with Dennis Tubbergen to Discuss Living a Rich Life
http://radicalpersonalfinance.... download (audio/mpeg, 36.62Mb)

Description:

Hey Radicals!

Tough week this week and I'm behind on shows. My apologies!

I thought you might enjoy this recent interview I gave on Everything Financial Radio in Grand Rapids, Michigan.

The first part of the show is with Gerald Celente. My interview starts at 19:15.

Back soon,

Joshua

The original file is found here: http://www.everythingfinancialradio.com/2016/07/gerald-celente-and-joshua-sheats-join-host-dennis-tubbergen/

105. 371-Should You Invest in Mobile Homes to Build Wealth in Real Estate? And If So, How? Interview with John Fedro from MobileHomeInvesting.net
http://radicalpersonalfinance.... download (audio/mpeg, 41.28Mb)

Description:

Today's show is dedicated to the idea of mobile home investing. John Fedro stumbled into the mobile home investment business and has since made it his unique area of specialty.

Mobile homes have some unique characteristics that might make them an attractive investment class for you to consider. (After all, you can often buy an entire house for less than a new car!)

But they also carry some significant potential downsides.

Enjoy the education,

Joshua

John's website: http://www.mobilehomeinvesting.net/ Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

 



106. 370-Friday Q&A: Should I Take a State DB Pension Plan or Choose a Defined-Contribution Option, Why Do So Few People Grasp How Simple It Is to Become Wealthy, What Are the Next Steps I Should Take in Establishing My New Consulting Business
http://radicalpersonalfinance.... download (audio/mpeg, 57.27Mb)

Description:

On Fridays, I host a live Q&A call! Today we cover:

Should I Take a State Defined-Benefit Pension Plan or Choose a Defined-Contribution Option? Why Do So Few People Grasp How Simple It Is to Become Wealthy? What Are the Next Steps I Should Take in Establishing My New Consulting Business

If you'd like to join on a future call, become a Patron of the show at www.radicalpersonalfinance.com/patron 

Enjoy!

Joshua



107. 369-Don't Wait for Financial Independence to Enjoy and Plan for Financial Abundance
http://radicalpersonalfinance.... download (audio/mpeg, 41.02Mb)

Description:

Ever since I sat down and designed my "Seven Stages of Financial Independence," I've been a bit bothered by Stage 7: Financial Abundance.

I inserted it at the end of the list because I think that's where it belongs. But I don't think you have to wait until you get through the stages to be able to enjoy a lifestyle of Financial Abundance. And I definitely don't think you should wait for later to start planning for Abundance.

So, what do you do?

Well, in today's show I do my best to lay out some ideas to point you in the right direction. 

Enjoy!

Intro to the Stages of Financial Independence: https://radicalpersonalfinance.com/174-the-stages-of-financial-independence-a-useful-roadmap-to-help-you-navigate-from-from-broke-to-financial-freedom/  Support RPF on Patreon: www.radicalpersonalfinance.com/patron  Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

108. 368-How to Establish, Build, and Utilize Your Business Credit: Interview with Ty Crandall from www.CreditSuite.com
http://radicalpersonalfinance.... download (audio/mpeg, 45.55Mb)

Description:

Your personal credit and credit rating are an important component of your financial life. But did you know that you can also establish, build, and utilize an entirely separate credit file on your business?

My guest today, Ty Crandall, is an expert on both business credit and personal credit and he's here with me today to share with you some actionable strategies you can understand and implement to begin building your own personal business credit.

Enjoy!

Joshua

Ty's website (and free guide): www.creditsuite.com/ein  Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

109. 367-Discussing Social Security Tactics, Strategy, and Background with Financial Planner Devin Carroll from Social Security Intelligence
http://radicalpersonalfinance.... download (audio/mpeg, 51.69Mb)

Description:

Today we tackle Social Security with Devin Carroll from www.SocialSecurityIntelligence.com 

Devin is a financial planner who has taken a special interest in consulting on the topic of social security.

In this show we cover some general background and advice for those who are trying to figure out how to approach their social security strategy as well as some interesting background on the social security program. (If you listen closely, you might even find an argument or two contained herein!)

Enjoy!

Joshua

Devin's website: http://socialsecurityintelligence.com/ Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

110. 366-Lessons Learned from Great Success and Great Failure in Multifamily Real Estate: Interview with Rod Khleif from the Lifetime Cashflow Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 41.49Mb)

Description:

My guest today has been from the lowest of lows to great heights of success. And then he repeated the cycle at least a time or two.

Rod Khleif has owned over 2,000 houses and apartments. He has made millions. And, he lost millions during the 2008 housing crash.

Today, he's come on the show to share the good and the bad from his experience. We cover technical details of real estate as well as many very important life lessons.

Enjoy!

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron Rod's podcast website: http://lifetimecashflowpodcast.com/ 

111. 365-Tips to Hitchhike Europe (or Anywhere Else) on $40 a Week (with a Food Budget of $2 Per Day!) Interview with Philip Frey from Valiant Growth
http://radicalpersonalfinance.... download (audio/mpeg, 63.33Mb)

Description:

Do you wish to set out and travel but feel like you lack the money? Well, what if you did it anyway and just adjusted your style of travel to fit a more modest budget?

My guest today is long-time listener of the show, Philip Frey. A few years ago he did exactly that.

He set out across Europe with a schoolmate and they managed to cobble together a very fun trip on a very modest budget!

In today's show we discuss Philip's experiences and advice for how to replicate a trip like his. 

I also share some of my tips and ideas for how I would approach a trip like this for myself.

Enjoy the show!

Joshua

Philip's website: http://www.valiantgrowth.com/ A stand-alone episode that Philip did on his podcast "Extreme Travel: My Story of Hitchhiking Through Europe on Under $40 a Week" http://www.valiantgrowth.com/e32/  Also, "How to Spend $2/day on Food" http://www.valiantgrowth.com/e14/  Steven Harris's website on "How to Keep Your Phone Charged All the Time Anywhere in the World That You Go" http://www.cellphone1234.com/ Hitchwiki: The Hitchhiker's Guide to Hitchhiking the World http://hitchwiki.org  Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

112. 364-The Laws of Wealth: Psychology and the Secret to Investing Success: Interview with Author Daniel Crosby
http://radicalpersonalfinance.... download (audio/mpeg, 65.16Mb)

Description:

My guest today is Daniel Crosby. Daniel is a behavioral economist and he has applied his expertise to the question of investing.

One of the greatest challenges investors face is managing their own behavior. Daniel has studied this problem extensively and has formulated specific recommendations to help investors manage their psychology and manage their behavior.

Enjoy!

Joshua

You're Not That Great! http://rpf.link/2aIuwry  The Laws of Wealth: Psychology and the Secret to Investing Success http://rpf.link/2aJLUiT  Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

113. The Power of Your Personal Philosophy: Audio from Jim Rohn
http://radicalpersonalfinance.... download (audio/mpeg, 31.27Mb)

Description:

I tried as hard as I could to ship a financial planning show today, but it just didn't get done.

Oh well.

I don't always promise to release audio to you every day, but I didn't want to leave you hanging without something to listen to.

So enjoy 20 minutes of pure Jim Rohn gold.

Joshua



114. 363-Combating the Effects of a Terminal Illness Diagnosis with Real Estate Prowess (and What's Better--Business or Real Estate?) Interview with Kathy Fettke from the Real Wealth Network
http://radicalpersonalfinance.... download (audio/mpeg, 54.85Mb)

Description:

My guest today is Kathy Fettke. Kathy has a very interesting story of learning to invest in real estate during a time of personal crisis. She has since leveraged her experience to build a business related to real estate in addition to managing her own investments.

Enjoy!

Joshua

Kathy's website: http://www.realwealthnetwork.com/  Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

115. 362-Making it Big in the USA as an Indian Immigrant: Interview with Manhar Patel
http://radicalpersonalfinance.... download (audio/mpeg, 27.74Mb)

Description:

I'm fascinated with stories of immigrants to the United States. If you mentally put yourself in the shoes of an immigrant and then ask how you could become wealthy, even if you started with nothing, you have the opportunity to clarify the actions you can take which lead to wealth.

A listener to the show, Manhar Patel, emailed me and asked me if I was interested in his story. After a bit of back and forth, I invited him on the show to tell his story.

Manhar is an Indian immigrant to the United States who is working to build his fortune. Enjoy his story and take what you can learn from his tips and tricks and apply them to your life.

Joshua

Support RPF on Patreon. www.radicalpersonalfinance.com/patron 

116. 361-The Power of If: If You Don't Like the Laws (Especially the Financial Laws), Avoid the Conditions that Cause You to be Subject to Them
http://radicalpersonalfinance.... download (audio/mpeg, 37.66Mb)

Description:

The past few weeks have been a bit depressing for me due to the absurdity of national politics here in the United States.

I broke my personal rules of not getting involved with national politics and the results weren't pretty. I was thoroughly annoyed and saddened.

Until Sunday afternoon.

Which is when a young man in my neighborhood cheered me up by showing how it's possible for someone who wants something to get it, no matter what stands in the way.

On today's show, I share with you some thoughts on the power of choice which we all have. We have the power to choose what we do and when and how. 

Ultimately, the politicians don't have the power over our lives. We have the power over our lives based on our choices.

I cover some ways for you to build more freedom and independence (especially in the area of taxes) by understanding the laws that you're subject to and then simply avoiding the conditions of being subject to them!

Enjoy,

Joshua

Britain banishes plastic bags Laffer Curve Window tax Support RPF on Patreon www.radicalpersonalfinance.com/patron Book a consulting call with me www.radicalpersonalfinance.com/phonecall 

117. 360-Friday Q&A: Are Bonds Necessary for Good Asset Allocation, Traditional 401(k) or Roth IRA, How to Leverage Long-Term Travel for Career Advancement, What Kind of Retirement Plan to Put In Place at a NonProfit, How to Rebuild after Bankruptcy
http://radicalpersonalfinance.... download (audio/mpeg, 69.08Mb)

Description:

On Fridays we do Q&A! 

Are Bonds Necessary for Good Asset Allocation Traditional 401(k) or Roth IRA How to Leverage Long-Term Travel for Career Advancement What Kind of Retirement Plan to Put In Place at a NonProfit How to Rebuild after Bankruptcy

If you'd like to get on a call like this, join as a patron! www.radicalpersonalfinance.com/patron 

Joshua

Paper: "Non-Profit Organizations Have Few Options for Deferred Compensation" from Journal of Retirement Planning

118. 359-Save Money on Your Food Budget by Learning How to Cook at Home! Practical Advice from Ketura from FreeToCook.com
http://radicalpersonalfinance.... download (audio/mpeg, 22.51Mb)

Description:

How much money do you spend eating out? How much money could you save simply by learning to cook for yourself?

My guest today is Ketura from www.FreeToCook.com and she's here to share her personal experiences in learning to cook from home to improve her family's budget.

Enjoy!

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

119. 358-Taxation of Disability Insurance, Can I Get Disability Payments for Pregnancy, Types of Policies Such as Business Overhead Expense Insurance, Disability Buy-Out Policies, Guaranteed Issue Plans, and More!
http://radicalpersonalfinance.... download (audio/mpeg, 57.85Mb)

Description:

Today we round out the 4-part disability series with:

A wrap-up of some key concepts Taxation of disability insurance premiums Various types of disability insurance policies Pregnancy and disability insurance Q&A from the audience

Enjoy!

Joshua

Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin Support RPF on Patreon: www.radicalpersonalfinance.com/patron Want to book a consulting call with me? Book here: www.radicalpersonalfinance.com/phonecall 

120. 357-Taming the High Cost of College: Understanding the Landscape of College Tuition, Financial Aid, Loans, and Your Choices with Brad Baldridge
http://radicalpersonalfinance.... download (audio/mpeg, 63.90Mb)

Description:

College and all of its associated costs can make a big difference in your financial situation. 

Today, I've invited Brad Baldridge on the show to discuss the college planning process and the background to many of the financial decisions.

I think you'll enjoy the interview. Be sure to stay tuned for the second half where we pull apart some strategies for making the student aid forms work to your favor.

Enjoy!

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron Want to consult with me on your specific situation? Book a call: www.radicalpersonalfinance.com/phonecall 

121. 356-Your Next Car Should be a Minivan. Here's Why!
http://radicalpersonalfinance.... download (audio/mpeg, 40.21Mb)

Description:

Minivans get a bad rap in our modern culture. They're the brunt of endless jokes and I want to see that change.

For some reason people think that minivans are suitable only for parents with kids.

They certainly are great for that--far, far better than an SUV--but that's not all.

I think a minivan is pretty much the perfect vehicle for everyone at every stage of life.

Yes, that's a big claim. But I really, really do think they're great.

Today, I do my best to convince you to join me in the land of the enlightened.

:)

Joshua

 



122. 355-How to Build a Plan for Financial Freedom in 10 Years or Less
http://radicalpersonalfinance.... download (audio/mpeg, 45.68Mb)

Description:

The tagline I created for Radical Personal Finance is this: "...the show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less."

Little by little I've been breaking this down for you and today we tackle the "financial freedom in 10 years or less" part.

I believe that, no matter where you're starting from or what your current financial condition, you can build a plan to achieve financial freedom in 10 years or less. And, in today's show, I defend that statement to you.

Enjoy,

Joshua

Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

123. 354-Disability Insurance: Benefit Amounts, Needs Analysis, Group vs. Individual, Definitions of Disability (Own Occ vs. Any Occ), Policy Provisions (Total Disability, Partial, etc.) and More!
http://radicalpersonalfinance.... download (audio/mpeg, 44.15Mb)

Description:

Today we continue our disability insurance series with a discussion of:

How to determine the benefit amount of an individual disability insurance policy The interaction of group disability insurance and individual disability insurance The definition of disability (own occupation, modified own occupation, any occupation) How is disability determined (loss of time, duties, income) Total disability vs. partial disability vs. presumptive total disability.

Enjoy!

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron Want to consult with me? www.radicalpersonalfinance.com/phonecall 

124. 353-How to Get Out of Debt Fast By Driving A Truck (And Build a Freedom Fund!): Interview With Ben and Deb Martinek
http://radicalpersonalfinance.... download (audio/mpeg, 45.42Mb)

Description:

Often very large financial goals can be achieved in a relatively short period of time if you focus enough on the goal and execute a plan with intense action.

Today, I bring you the story and experience of a couple who did just that. Ben and Deb Martinek decided to become over-the-road truck drivers so that they could pay off their student loans in a very short period of time.

They succeeded in paying off about $100,000 in debt in 2.5 years by driving a truck. And they had a great time doing it!

Today we hear their story and ideas on how you can do something similar for yourself.

Joshua

The blog that Ben and Deb kept while driving a truck: www.truckyoufortwo.blogspot.com Ben's financial planning business: www.bonafidefinance.com Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

125. 352-Friday Q&A: Should I Purchase My Personal House in an LLC, How do I Know if My Life Insurance Agent is Advising the Right Amount
http://radicalpersonalfinance.... download (audio/mpeg, 32.50Mb)

Description:

On Fridays we do a live Q&A show here at Radical Personal Finance. If you'd like access to these calls, join here: www.RadicalPersonalFinance.com/patron 

Today we cover:

Should I Purchase My Personal House in an LLC? How do I Know if My Life Insurance Agent is Advising the Right Amount of Insurance to Own?

Enjoy the show!

Joshua



126. 351-How to Live a Rich Life Now (pt. 2): Most Material Riches Are Easily Accessible to You Today
http://radicalpersonalfinance.... download (audio/mpeg, 48.18Mb)

Description:

Today, we continue our series on "Living a Rich Life Now" by discussing material riches and how you can appreciate the ones you already have and enjoy more more material riches now, without waiting.

Most people equate riches with things they have yet to buy. Largely, this is due to an effective marketing campaign by somebody with something to sell.

But, many of us easily forget about all of the material riches we already enjoy.

And, we neglect the easy ways we can live a rich life--perhaps even the lifestyle of a multi-millionaire--without the need to actually become a multi-millionaire.

This show contains some of my ideas which will, I hope, provoke you to clarify your own definition of a rich life and start living it as quickly as possible!

Joshua

Need a great financial advisor? Start your search here! www.radicalpersonalfinance.com/Paladin  Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron  Interested in a consulting call with me? Book here: www.radicalpersonalfinance.com/phonecall 

127. 350-How to Live a Rich Life Now: The Immaterial Attributes of Riches That You Can Control Today
http://radicalpersonalfinance.... download (audio/mpeg, 36.24Mb)

Description:

Radical Personal Finance is "a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less."

That's the slogan that I came up with as the unifying theme after creating about 300 episodes of the show.

But, although I've been using this slogan for a while, I've never actually explained each of the statements in that slogan. And they're all important.

Today, I tackle the first part: What does it mean to live a rich life now?

There are immaterial aspects to a rich life and there are also material aspects to riches.

Today we tackle the immaterial.

Enjoy!

Joshua

Want to get on a consulting call with me regarding your situation? Go here: www.radicalpersonalfinance.com/phonecall Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

128. 349-Want to Get Rich and Live a Comfortable Life? You Should Seriously Consider Being a Doctor as Your Path! Interview with Peter Steinberg
http://radicalpersonalfinance.... download (audio/mpeg, 55.41Mb)

Description:

I've previously stated that I don't understand why anyone would go into the field of medicine as a way of getting rich.

I understand why people would want to do it because it fits their goals and personality and sense of calling, but I've always felt that it's a bad move financially.

Even though you can earn a high income, there are a lot of disadvantages to the career!

Well, my guest on today's show disagrees with me!

He's a practicing physician and he thinks I'm dramatically misrepresenting the financial potential and payoff of medicine.

I think you'll enjoy our debate!

Joshua

Peter Steinberg's professional site: www.bidmc.org/kidneystone  Support RPF on Patreon! www.RadicalPersonalFinance.com/Patron 

129. 348-Think You've Got it Tough? This Show Will Make You Grateful for Your Abundant Opportunities. I Promise!
http://traffic.libsyn.com/radi... download (audio/mpeg, 48.38Mb)

Description:

A lot of us face difficult situations. And it's tough to maintain a positive attitude. But, have you considered what some other people face?

What would you do if you were facing a >70% unemployment rate in your town?

What would you do if you were working a job that hadn't paid you in >6 months?

What would you do if you had electricity for only 2 hours per day?

After listening to today's show, I promise you'll look at the opportunities around you with a fresh appreciation. 

Enjoy!

Joshua

Bola's Fiverr profile:  https://www.fiverr.com/ipriest

Bola's publishing company: http://www.cryoutpublishing.com

Support RPF on Patreon: www.radicalpersonalfinance.com/patron 



130. 347-Disasters Happen: Make a Plan Now to Ensure You Have Plenty of Money Available to You to Solve the Problems Money Can Solve
http://radicalpersonalfinance.... download (audio/mpeg, 45.23Mb)

Description:

June 1 is the start of hurricane season here in South Florida. June is always when I review my own hurricane preparedness plan and assess it for any weaknesses.

I've also kept a close eye on the Fort McMurray wildfires and the economic crisis currently underway in Venezuela.

Given these stark and vivid disasters, I've wanted to draw your attention to them as a way for you to consider how you're prepared to handle them.

Today I focus on the importance of money--specifically having some available to you in times of crisis.

Enjoy,

Joshua

YouTube: "Fort McMurray Evacuated During Massive Wildfire" https://youtu.be/kSPFt6O1FLI  YouTube: "Welcome to Hell - Driver Escapes Fort McMurray Wildfire" https://youtu.be/ieTQvIdG-Vo YouTube: "Owners Watched Fort McMurray Home Burn to Ground Over iPhone" https://youtu.be/JTlGFsP4JeQ 'We want out of this agony': What it's like to eat in a country that's on the verge of collapse http://www.businessinsider.com/venezuela-economic-food-crisis-meals-2016-4 Dying Infants and No Medicine: Inside Venezuela’s Failing Hospitals http://www.nytimes.com/2016/05/16/world/americas/dying-infants-and-no-medicine-inside-venezuelas-failing-hospitals.html?_r=2 Support RPF on Patreon www.radicalpersonalfinance.com/patron   

131. 346-Real Estate Entity Selection & Estate Planning (With a NYC Slant): Interview with Real Estate and Estate Planning Attorney Jules Haas
http://radicalpersonalfinance.... download (audio/mpeg, 49.85Mb)

Description:

Today I've invited Jules Haas on the show to talk real estate entity selection and estate planning.

Jules has an especially interesting perspective given where he lives and practices law: downtown New York City.

We discuss:

how to decide if you should own real estate within an entity or not how to own real estate with maximum privacy (and why it's important) estate considerations for different methods of ownership

Enjoy!

Joshua

Jules's website: https://www.juleshaasattorney.com/ (For a free consultation, call 212-355-2575.) Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

132. 345-"Cashing in Tax Free: Your Ultimate Guide to a Tax-Free Retirement Using 1031 Exchange and Delaware Statutory Trusts" Interview with Author Leslie Pappas
http://radicalpersonalfinance.... download (audio/mpeg, 43.74Mb)

Description:

Today on Radical Personal Finance we veer into an interesting niche in the real estate market.

Do you have an appreciated rental property with a lot of equity in it? Would you like to know how to transition out of that personally managed property into a professionally managed portfolio without paying capital gains taxes on the transfer?

That's what today's interview is about.

My guest is Leslie Pappas. She's an expert at using 1031 Exchanges and Delaware Statutory Trusts in a very specialized segment of the real estate industry.

Enjoy learning about this niche!

Joshua

Amazon: "Cashing in Tax Free: Your Ultimate Guide to a Tax-Free Retirement Using 1031 Exchange and Delaware Statury Trusts (DSTs)" http://rpf.link/1RXjo83  Leslie's website: http://www.archerinvestors.com/  Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

133. 344-How to Go From Broke to Comfortable With a Single Move! (And What is a Junior IRA?): Interview with Mr. and Mrs. Groovy from FreedomIsGroovy.com
http://radicalpersonalfinance.... download (audio/mpeg, 48.05Mb)

Description:

My guest on today's show is Mr. Groovy, writer at the eponymous website www.FreedomIsGroovy.com 

He reached out to me and pitched me for some exposure for his idea of a Junior IRA. I accepted his request and invited him on the show.

I also thoroughly enjoyed hearing his story of getting free financially with a simple geographic move. There's a lesson in there for many of you.

Enjoy the show!

Joshua

Mr. Groovy's JIRA idea: http://freedomisgroovy.com/junior-ira-nutshell/ Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

134. 343-Friday Q&A: When Should My Wife Take Social Security, Should I Buy Term Life Insurance as an Investment?
http://radicalpersonalfinance.... download (audio/mpeg, 25.26Mb)

Description:

On Fridays, I do a live Q&A call for patrons of the show.

Today we cover:

When Should My Wife Take Social Security? Should I Buy Term Life Insurance as an Investment?

If you'd like to join a Q&A call, become a Patron of the show at www.radicalpersonalfinance.com/patron 

Joshua

Social Security Strategies: How to Optimize Retirement Benefits by William Reichenstein and William Meyer http://rpf.link/1ss19mu 

135. 342-How to Make a Fortune (or Build a Lifestyle Business) Selling Stuff on Amazon: Interview with Brad DeGraw
http://radicalpersonalfinance.... download (audio/mpeg, 38.06Mb)

Description:

I'm always keeping my ears out for interesting ways to earn a living--or a side income. And today, I've got exactly that for you.

My guest today is Brad DeGraw. Brad is an expert at selling stuff through Amazon.

He claims to have started with $100 and a WiFi connection and to have turned it into over $1,000,000 in sales to date.

Enjoy the interview!

Joshua

Brad's website: http://amazonsherpa.com/ Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

136. 341-Odds On: The Making of an Evidence-Based Investor, Interview with Author and Financial Advisor Matt Hall
http://radicalpersonalfinance.... download (audio/mpeg, 61.30Mb)

Description:

My guest today is Matt Hall. Matt is a financial advisor who learned the hard way what works and what doesn't in the world of financial advice.

One of the missions of Radical Personal Finance is to pull back the curtain from the world of financial advice. I do my best to ask direct questions of financial advisors and give them an opportunity to share their perspective.

Enjoy!

Joshua

Buy Matt's book "Odds On: The Making of an Evidence-Based Investor" on Amazon. http://rpf.link/1Ubu196  Matt's website: http://matthallbook.com/  Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

 



137. 340-Friday Q&A: Should I Get Disability Insurance if I'm Only Working for Two Years, What Happens to Disability Insurance If I'm Changing Jobs, How Should I Save Money For My 9-Month Old Daughter's House, Should I Work Three More Years In Order To Vest
http://radicalpersonalfinance.... download (audio/mpeg, 38.95Mb)

Description:

On Fridays, we do a live Q&A show! Today, we cover:

Should I Get Disability Insurance if I'm Only Working for Two Years What Happens to Disability Insurance If I'm Changing Jobs How Should I Save Money For My 9-Month Old Daughter's House Should I Work Three More Years In Order To Vest in my Pension

Enjoy!

Joshua

If you'd like to call in to a show like this, become a patron of the show! www.radicalpersonalfinance.com/patron 

138. 339-Long-Term Disability vs Short-Term Disability, Benefit Period, Elimination Period, Noncancellable vs. Guaranteed Renewable Continuance Provisions
http://radicalpersonalfinance.... download (audio/mpeg, 35.71Mb)

Description:

Today we continue our disability insurance series. We cover:

Why it's so hard to compare disability insurance policies to each other Long-term disability insurance vs. short-term disability insurance Benefit periods (2 years, 5 years, to age 65, etc.) Elimination periods (2 weeks, 45 days, 90 days, 6 months, 1 year, etc.) Continuance provisions (noncancellable, guaranteed renewable, conditionally renewable)

Enjoy!

Joshua

Need a financial advisor? Go here: www.radicalpersonalfinance.com/paladin  Want to consult with me? Go here: www.radicalpersonalfinance.com/phonecall Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

139. 338-Negotiating a Better Work Arrangement for Greater Personal Happiness: Interview with Jeff, the Happy Philosopher
http://radicalpersonalfinance.... download (audio/mpeg, 63.35Mb)

Description:

Today we speak with Jeff, the Happy Philosopher. Jeff is a doctor who was finding himself increasingly dissatisfied with his job. 

Knowing that if he didn't make a change, he would find himself totally burned out, he managed to re-negotiate his work agreements in order to build a better lifestyle.

This is an option that many of you should consider.

Enjoy!

Joshua

Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

140. 337-Why You Should Buy Disability Insurance Before Any Other Type of Insurance Coverage
http://radicalpersonalfinance.... download (audio/mpeg, 40.28Mb)

Description:

If you could only choose one type of insurance coverage to have, I believe you should buy disability insurance.

In today's show, I seek to persuade you to agree with me.

In short, this is my sales pitch for disability income insurance.

Enjoy!

Joshua

Would you like to consult with me on the topic of your choice? Book a call here: www.radicalpersonalfinance.com/phonecall Support RPF on Patreon. www.radicalpersonalfinance.com/patron 

141. 336-Friday Q&A: Advice on Starting an Experts Business, How to Transition from a Stable Career to Unstable Entrepreneurship, Joshua's Thoughts on the Banking System, How to Become a Better Salesperson
http://radicalpersonalfinance.... download (audio/mpeg, 50.58Mb)

Description:

On Fridays, we have Q&A! And today, I have some fun questions for you.

My Advice on Starting an Experts Business How to Transition from a Stable Career to Unstable Entrepreneurship Opportunity  Joshua's Thoughts on the Banking System and It's Problems How to Become a Better Salesperson

If you'd like to participate in a Friday call, join the show as a Patron! www.radicalpersonalfinance.com/patron 

Joshua



142. 335-My New Consulting Business...And Yours Too!
http://radicalpersonalfinance.... download (audio/mpeg, 20.35Mb)

Description:

I've decided--after many, many requests--to offer paid phone consulting to you, the audience.

If you would like to consult with me on any topic of your choice, I'm now available to you! (Just use this link: https://radicalpersonalfinance.com/phonecall )

I think you'll be interested in the backstory of why I've gone back and forth on offering this service.

A new technology offering is what has made the difference.

Listen to the show for details.

Oh, and by the way...I want you to copy me!

For some of you, this might be a sweet little business idea for you!

Joshua

Book a consulting call with me here: https://radicalpersonalfinance.com/phonecall 

143. 334-How & Why to Go Independent as a Financial Advisor: Interview with Financial Advisor Sean Kernan
http://radicalpersonalfinance.... download (audio/mpeg, 74.15Mb)

Description:

Ever wondered what the actual practice models are for financial advisors? Today, I've invited Sean Kernan on the show to talk about the inside business of financial advice.

Sean is a financial advisor who started his career at the large wirehouses and later transitioned to be independent. 

Since then, he's started a website and podcast to help other advisors called "How to Go Independent."

If you'd like to listen in on two financial advisors discussing what the industry is actually like on the inside, enjoy this show!

Joshua

Sean's site: http://howtogoindependent.com/ Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

144. 333-Q&A: How to Lower Work-Culture Costs Without Being Perceived as a Grinch, Should I Take Out a TSP Loan or Student Loans for Grad School, Should I Take a Year Off To Try a Business or Go Directly to Grad School, How To Profitably Invest Paternity Leave
http://radicalpersonalfinance.... download (audio/mpeg, 60.87Mb)

Description:

Today on RPF, I answer your questions:

How to Lower Work-Culture Costs Without Being Perceived as a Grinch? Should I Take Out a TSP Loan or Student Loans for Grad School? Should I Take a Year Off To Try a Business or Go Directly to Grad School? How To Profitably Invest Paternity Leave?

Enjoy the show!

Joshua

Do you need a financial advisor? Start here! www.radicalpersonalfinance.com/paladin  Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

145. 332-Q&A: How to Sell Whole Life Insurance to Buy Term & Invest the Difference People, How to Help People Get Experience So They Know What Kind of Work to Do, Joshua's System of Marginalia, Savoring Books vs. Gulping Books
http://radicalpersonalfinance.... download (audio/mpeg, 44.38Mb)

Description:

Today on RPF, I answer your questions!

How to Sell Whole Life Insurance to Buy Term & Invest the Difference People How to Help People Get Experience So They Know What Kind of Work to Do Joshua's System of Marginalia Savoring Books vs. Gulping Books

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron  You Need a Budget! Try the same software I use: www.radicalpersonalfinance.com/YNAB 

146. 331-Financial Independence with Real Estate Starting With No Money! Interview with Chad Carson
http://radicalpersonalfinance.... download (audio/mpeg, 39.47Mb)

Description:

My guest today is Chad Carson. Chad is a real estate investor and financial freedom pursuer. 

I've invited him on today's show to share his story of how he began investing in real estate with no money and how he's built his empire to a place of financial freedom today.

Enjoy!

Chad's site: www.coachcarson.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

147. 330-How to Live Super Cheap and Earn Your Income Selling Stuff Online! Interview with Nate Dodson
http://radicalpersonalfinance.... download (audio/mpeg, 26.98Mb)

Description:

Today on Radical Personal Finance we dig into the topics of living cheap and well!

My guest is quite the radical guy and he's here to share with us what he's learned regarding:

figuring out how to live a great life on very little money figuring out how to build an income from selling things through an online shop

Enjoy the show!

Joshua

Support Radical Personal Finance! www.radicalpersonalfinance.com/patron 

148. 329-Boost Your Investment Returns with Marketplace Lending: Interview on Current Opportunities with Peter Renton, Founder of Lend Academy and the LendIt Conference
http://radicalpersonalfinance.... download (audio/mpeg, 61.31Mb)

Description:

Marketplace lending (a.k.a. peer-to-peer lending) is steadilyadvancing in impact and popularity. Although it's certainly not yeta dominant form of cashflow for borrowers nor is it a dominantinvestment choice for investors, it is on the steady growth and itsimpact is being felt.

My guest today is a front-seat commentator and active investorin this marketplace.

Peter Renton is the founder of LendAcademy.com and the LendItconference.

He's here today to bring us up to speed on the peer-to-peermarketplace!

Enjoy!

Joshua

www.lendacademy.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

149. 328-Friday Q&A: the Language of Marginal Tax Deductions, Volunteering as an Income Tax Preparer for Low Income People, and Are Cash Value Life Insurance Policies a Good Place for an Emergency Fund
http://radicalpersonalfinance.... download (audio/mpeg, 24.24Mb)

Description:

On Fridays, we do a live Q&A call. If you'd like to join the call, sign up here: www.radicalpersonalfinance.com/patron 

Today we discuss:

The Language of Marginal Tax Deductions Volunteering as an Income Tax Preparer for Low Income People Are Cash Value Life Insurance Policies a Good Place for an Emergency Fund

Enjoy!

Joshua



150. 327-How to Save Money on Medical Expenses Without Accidentally Killing Yourself From Foolish Decisions: Interview with Dr. Mohammad Ashori
http://radicalpersonalfinance.... download (audio/mpeg, 60.44Mb)

Description:

Medical expenses represent a large percentage of our lifetime expenditures. But do they need to?

My guest today is a practicing physician and he's here to share with us where we can rationally cut back and scrimp and save when it comes to medical expenses.

This area of thought is one of the most taboo areas when it comes to frugality.

Many people who are otherwise quite frugal have an immediate, visceral reaction of condemnation when someone announces they're making different medical decisions in order to save money.

But is this the correct reaction? Or can someone rationally think for themselves and pick and choose the medical care that's right for them?

You be the judge of that!

Joshua

Please support RPF on Patreon! www.radicalpersonalfinance.com/patron 

151. 326-An Immigrant's Path to Entrepreneurship: Lessons Learned with Dan Lok
http://radicalpersonalfinance.... download (audio/mpeg, 60.09Mb)

Description:

Immigrants to the United States are much more likely to become millionaires than are natural-born citizens. And although my guest today lives in Canada, the parallel is clear.

Dan Lok had a challenging beginning to his career, not the least of which was that he had to begin with learning and improving his English language skills!

His foray into the world of employment came as a 16-year-old earning minimum wage. He quickly realized that he needed to go into business for himself and he hasn't looked back.

Today, he is a multi-millionaire and owner of multiple, highly profitable businesses.

I've invited Dan on to today's show to learn from his experiences and insights.

Enjoy this unique look into an entrepreneur's story and lessons learned!

Joshua

Dan's website: www.DanLok.com Support RPF on Patreon! www.radicalpersonalfinance.com/patron 

152. 325-How to Invest in Guns for Maximum Profit and Diversification: Interview with James Wesley, Rawles from SurvivalBlog.com
http://radicalpersonalfinance.... download (audio/mpeg, 63.63Mb)

Description:

I love to explore interesting financial markets which are accessible to the common person who demonstrates a little bit of interest. Today we dig into one such market: guns.

I've invited James Wesley, Rawles onto the show today to discuss how you can intelligently invest in guns as a means to wealth.

We cover:

Speculative approaches and non-speculative approaches. How to leverage small amounts of money by buying specific firearm components. Interesting little wrinkles in the marketplace. Etc.

Enjoy the show!

Joshua

Jim's website: www.survivalblog.com Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

153. 324-Friday Q&A: How to Invest $1k to 10k, How to Prioritize Competing Goals, Should I Stay in my Current Job Until I'm Vested, What Kind of Retirement Plan Should Middle-Age Hotel Owners Establish
http://radicalpersonalfinance.... download (audio/mpeg, 46.77Mb)

Description:

On Fridays, we do Q&A! Today we cover:

How to Invest $1k to 10k? How to Prioritize Competing Goals? Should I Stay in my Current Job Until I'm Vested? What Kind of Retirement Plan Should Middle-Age Hotel Owners Establish?

If you'd like to participate in these Friday calls, become a patron of the show at www.radicalpersonalfinance.com/patron

Enjoy!

Joshua 



154. 323-How to Teach Your 8-Year-Old To Earn with Job Skills, Build Businesses, and Invest Wisely
http://radicalpersonalfinance.... download (audio/mpeg, 39.35Mb)

Description:

One of our primary charges as parents is to raise our children from dependency to maturity and independence. One major component of this task is to teach them to be economically self-sufficient.

How do we do this? Where does it start?

Well, I believe we need to tackle this at a very young age. The earlier the better. 

In today's show, I'll tell you my ideas on the topic.

Enjoy!

Joshua

Support RPF as a Patron of the show! www.radicalpersonalfinance.com/patron 

155. 322-How This Teacher Has Gone from Deep in Student Loan Debt to Financially Independent by Age 40: Interview with Nicole Bryan
http://radicalpersonalfinance.... download (audio/mpeg, 41.77Mb)

Description:

My guest today is Nicole Bryan. Nicole began her career as a schoolteacher with a pile of student loans. Today, she is on track to be financially independent by her 40th birthday.

Her story will be incredibly valuable for you as it will demonstrate the feasability of achieving financial freedom for almost all of us!

Listen and enjoy!

Joshua

Nicole's FB group: http://facebook.com/financialfreedomlovers   Support Radical Personal Finance as a Patron! http://radicalpersonalfinance.com/patron 

156. 321-The Trend Following Investment Strategy (and What It's Like to Build Your Own Investment Management Firm from Scratch) with Michael Melissinos
http://radicalpersonalfinance.... download (audio/mpeg, 61.76Mb)

Description:

My guest today is Michael Melissinos. Michael is a trend-following investment manager who has systematically built his own firm over the past few years.

Michael's story presents both a case study of entrepreneurship (how to go from jobs that are poorly suited to you to an entrepreneurial venture) as well as insight into various aspects of trading from a trend-following perspective.

Enjoy the show!

Joshua

Michael's blog: http://www.michaelmelissinos.com/ Michael's firm's site: http://www.melissinostrading.com/  Open a brokerage account with Tradeking: http://radicalpersonalfinance.com/tradeking  Support RPF on Patreon! http://radicalpersonalfinance.com/patron 

157. 320: Breaking all the Rules to Succeed in Podcasting: Recording of My Speech to the South Florida Podcasting Meetup Group
http://radicalpersonalfinance.... download (audio/mpeg, 44.10Mb)

Description:

RPF is on Spring Break this week so I'm posting some different content than my normal show. This is a speech that I gave to a local podcasting meetup group here in South Florida called "Breaking all the Rules of Podcasting." It contains my advice to a roomful of new and aspiring podcasters. The speech was delivered on 09/12/2015.

Here's a link to the PowerPoint presentation I was presenting to my audience while speaking: http://traffic.libsyn.com/radicalpersonalfinance/South_Florida_Podcast_Meetup_Presentation.pptx 

158. Out and About: Control the Risk of Failure with Joshua Sheats - Youversation Episode 035
http://radicalpersonalfinance.... download (audio/mpeg, 39.82Mb)

Description:

(RPF is on Spring Break this week, so I'm sharing some interviews with you where I've been featured on other shows. Enjoy! -Joshua)

“I don’t think failure is a mark of shame. Failure and mistakes are inevitable.”

Things Joshua talks about in this episode:

Why a “hunch” helped him move into his podcast career Why he had to ignore the advice of people around him to start the podcast Why he had to quit his job to start his podcast How he “mitigated” the details of failure When we do fail, let’s fail in small, manageable ways and make sure we have backup plans Why his podcast fills a gap he could not find anyone else filling Why he started his business with a podcast What social media platforms he uses to engage his audience and market the podcast His advice for people who want to start their business on digital platforms Why he thinks people confuse a platform and a tool with content and a strategy The podcast is not the benefit, it’s simply the tool that we use to deliver the content Why he follows NO ONE on social media Why he schedules free time and focus days

Resources

Patreon (for tips) Voice Dictation on iPhone 6+ Dragon Naturally Speaking

159. Out & About: Sales From The Street-"Shh, Just Listen Man" The Sales Evangelist Episode#224
http://radicalpersonalfinance.... download (audio/mpeg, 30.67Mb)

Description:

(RPF is on Spring Break this week so I'm posting some interviews where I've been featured on other shows. Enjoy my comments on sales in this interview with The Sales Evangelist! -Joshua)

How well do you listen to your clients? Well, our guest today illustrates the power of listening! By the end of the show, you’d most likely figure out why it does help to just shh…

Our guest on today’s Sales From the Street episode is Joshua Sheats, host of The Radical Personal Finance Podcast.

Coming from a six-year career in life insurance and investment sales with Northwestern Mutual, Josh eventually launched his own organization, Radical Personal Finance, where he hosts a daily, in-depth personal financial planning podcast teaching people how to become financially independent in 10 years or less.

Listen in as Joshua brings a tad wealth of information to the table which you can apply and help steer you towards the road to success.

Here are the highlights of my conversation with Josh:

Some challenges Josh faced:

Overcoming the deep-held fear of sales
Finding the right time to make the transition from working hard to get referrals/prospects

How Josh overcame these challenges and how you can do the same too:

Have a prospecting system. Spend more and more time listening and less and less talking. The more you listen in sales, the better the results. Ask more questions and listen to what they have to say. Authentically create a feeling among clients of being heard and listened to. “I learned that if you listen well enough, people will think that you know what you’re talking about because of the way you made them feel.” – Joshua Sheats Have a script. Focus on how you say it instead of what to say. Engage people, not thinking about what you’re going to say, but about how they’re feeling and responding to what you say. Have a script and know your script. Focus on internalizing the words until you forget about the words and dig into the delivery. Know where to lead people. Have a script and know where to lead people. This allows you to take the time tested on approaches from professional selling then hone them and make them more elegant for today’s world.

How to be Very Good on the Phone:

Listen to everyone around you. Record yourself and do the exact opposite. Study and listen from other people. Take a short pause after saying your name. (This makes it sound like the client knows you.)

Joshua’s Major Takeaway:

If you do good work, that will speak broader than any tactic or technique. If you are a person worth referring to, you won’t need any tricks or gimmicks. Good technique is important for good salespeople. Do both good work and great technique. Focus on being a person who’s worth referring to, worth buying from, and being an expert in your industry.

Link to original show: http://thesalesevangelist.com/episode-224/ 

160. Out & About: Self-Education Plan Review with Joshua Sheats (Anarcho-Yakitalism Podcast Ep.62 )
http://radicalpersonalfinance.... download (audio/mpeg, 58.69Mb)

Description:

RPF is on Spring Break this week so I'm publishing some podcasts where I've been interviewed on other people's shows.

This episode is a follow-up appearance on Nick Hazelton's podcast wherein he solicited my advice and comments on his self-education plan.

Joshua

My original appearance on Nick's show: http://an-yak.com/?p=193  The original link for this episode: http://an-yak.com/?p=422 

161. Out and About: Investing to BE Dave Ramsey (with Joshua Sheats) - Stacking Benjamins
http://radicalpersonalfinance.... download (audio/mpeg, 49.09Mb)

Description:

(I'm on Spring Break this week, so I'm posting an episode of Stacking Benjamins which featured my advice on how to invest to be Dave Ramsey. -Joshua)

How do you become Dave Ramsey? You invest a certain way…and it isn’t the way Dave Ramsey tells you to invest. We welcome Joshua Sheats to the show from Radical Personal Finance to talk about becoming wealthy. What does it take? What does that mean for concepts like diversification, risk and insurance planning? We’ll cover all of those.

Of course, to honor Joshua, we have a LONG episode today, packed full of fun. In the headlines we’ll tackle the reason executives DON’T hire people (it’s not what you think). We’ll handle a great call about changing investments on the Quotacy hotline, and tackle more on Roth IRAs, diversification and the movie the Big Short. Whew! But that’s not all. We have more headlines, trivia and the big “so what” like the cherry on top of the show at the end of the episode.

https://www.stackingbenjamins.com/investing-become-dave-ramsey-joshua-sheats/

162. RPF is on Spring Break!
http://radicalpersonalfinance.... download (audio/mpeg, 1.14Mb)

Description:

Hey Radicals!

RPF is on Spring Break for the next few weeks. (I do promise to go to the beach at least once--but no bikini pictures on Facebook for me!)

I will release a few sporadic shows including some interviews with me which have appeared on other shows.

In the meantime, if you're looking for something to listen to, I encourage you to check out the archives of the show!

I do my best not to repeat topics, so if you're a new listener, you'll find a wealth of topics in the archives of the show.

Download the free Radical Personal Finance app in the app store on your phone and you'll have full access to all the archived shows.

Enjoy!

Joshua



163. 319-Friday Q&A: Should I Switch from Employment to Self-Employment to Save Money, How do I Decide Between Model Portfolio Asset Allocations
http://radicalpersonalfinance.... download (audio/mpeg, 32.31Mb)

Description:

On Fridays, we have a live Q&A show. Today we cover these two questions:

Should I Switch from Employment to Self-Employment to Save Money? How do I Decide Between Model Portfolio Asset Allocations?

If you'd like to join a call like this and have your question appear on the show, simply become a Patron of the show here: www.radicalpersonalfinance.com/patron 

Enjoy!

Joshua



164. 318-How to Get the Best Possible Mortgage: Advice from Casey Fleming, Author of "The Loan Guide"
http://radicalpersonalfinance.... download (audio/mpeg, 41.87Mb)

Description:

For most people, housing decisions are the largest financial decisions that they will make. And the mortgages usually associated with housing are the largest debts most of us will take on.

And yet how much time and energy do we actually invest into researching these decisions? 

For most of us, the answer is not much.

My guest today is Casey Fleming and he's here to help us navigate the waters of the mortgage market with some clear, up-front advice.

Enjoy the show!

Joshua

Casey's book: The Loan Guide: How to Get the Best Possible Mortgage http://rpf.link/1Rsqztd  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

165. 317-Living in a Bus and a Tiny House With 7 Kids! Interview with Shane and Julie Good from www.GoodNewsBus.com
http://radicalpersonalfinance.... download (audio/mpeg, 48.79Mb)

Description:

I love to discover unique people who embrace an unusual lifestyle. My guests today are a perfect example of such a lifestyle!

Shane and Julie Good live part-time in a converted school bus and part-time in a tiny house that they built themselves. That's impressive.

But, even more interesting...they do it with their seven young children!

Many people let their children get in the way of their adventures. Not the Good family! Their family is fully integrated in everything they do!

Enjoy the interview explaining how they came to this unique lifestyle and what they've learned along the way!

Joshua

Shane & Julie's website: www.goodnewsbus.com Get a $100 bonus when you open an account with TradeKing! www.tradeking.com/radical  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

166. 316-Friday Q&A: Should I Stay At A Job to Get Student Loan Forgiveness, When is the Ideal Age to Buy a Single Premium Immediate Annuity
http://radicalpersonalfinance.... download (audio/mpeg, 37.21Mb)

Description:

On Fridays I do a Q&A show for Patrons of Radical Personal Finance. If you'd like me to answer a question for you, go here for information: www.radicalpersonalfinance.com/patron 

Today I answer:

Should I Stay At A Job to Get Student Loan Forgiveness? When is the Ideal Age to Buy a Single Premium Immediate Annuity?

Enjoy!

Joshua



167. 315-Is Mortgage Acceleration (Replacing Your Traditional Mortgage with a HELOC) Really a Good Idea? Interview with Bill Westrom from www.TruthInEquity.com
http://radicalpersonalfinance.... download (audio/mpeg, 77.24Mb)

Description:

On Episode 133 of the show, I had a listener ask me for my opinion regarding the concept of "mortgage acceleration."

Basically, it's the idea of taking out a HELOC on your house instead of (or in addition to) a traditionally amortizing mortgage, putting all your income against the HELOC and then paying your bills out of the HELOC.

The key idea with this strategy is that the average daily balance of your account is lower, reducing your interest payments.

In Episode 133, I was critical of the idea and the book that espoused it.

Today, I've brought the author of that chapter in the book on to defend the idea of mortgage acceleration as vigorously as possible.

Enjoy the show!

Joshua

Listen to Episode 133 of the show before listening to this interview: https://radicalpersonalfinance.com/133-qa-paying-off-your-primary-mortgage-with-a-heloc-mortgage-acceleration-and-how-save-is-my-deferred-comp-program/  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

168. 314-How You Can Get More Money For Early Retirement By Using an IRA or 401(k) Even if You Have to Pay the 10% Penalty!
http://radicalpersonalfinance.... download (audio/mpeg, 39.68Mb)

Description:

Have you ever wanted to invest through an IRA or 401(k) for the purpose of early retirement but found yourself stymied by the thought of paying a 10% penalty tax to gain access to your money?

Well, on today's show I've got good news!

If you invest through an IRA or 401(k) but later take the INCOME from the account to pay for an early retirement, you may still come out ahead of the taxable account, even though you need to pay the additional penalty tax!

Check out the show and attachments for details!

Enjoy.

Joshua

The original article from Bryan which launched the idea for today's show: http://www.smartmoneybetterlife.com/eat-your-cake-now-or-when-you-are-59-5-addressing-the-conundrum/  You Need a Budget! www.radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon www.radicalpersonalfinance.com/patron 

169. 313-unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now: Interview with Author Clark Vandeventer
http://radicalpersonalfinance.... download (audio/mpeg, 51.02Mb)

Description:

What would you do if you left your big-shot corporate gig to pursue an entrepreneurial venture which then fell apart?

And then you ran for public office? And lost.

And then wound up living in your in-law's garage completely flat broke.

Would you then go back, admit defeat, and rejoin the corporate grind?

Or, would you continue pursuing your dream lifestyle in a systematic way?

My guest today went through that exact process of life. And he's systematically worked to build his dream lifestyle with his family.

Today we sit down with Clark Vandeventer, author of "unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now."

Clark has a very encouraging story to share and a wealth of experience in building his ideal lifestyle on the cheap.

Enjoy!

Joshua

Clark's site: www.familytrek.org Book site: www.unworkingbook.com  www.tahoeskibum.com  Need a financial advisor? Start here! www.radicalpersonalfinance.com/paladin  Support RPF: www.radicalpersonalfinance.com/patron 

170. 312-Q&A: What's It Actually Like to Start a Career as a Financial Advisor with a Big Insurance Company? My Own Experiences from the Trenches!
http://radicalpersonalfinance.... download (audio/mpeg, 60.79Mb)

Description:

Today, I respond in detail to this question from a listener:

Hi Joshua,

I have been really into personal finance for about 5 years now and am considering becoming a financial advisor, specifically with a large company like you used to work for.

I am currently a 31 year old physician making around $150,000. I have spent a long time preparing for my career, but I am always drawn to becoming a financial advisor.

The medical field is becoming increasingly draining with charting, liability, decreasing reimbursement, increased regulations etc.

The problem is in my career I can only make so much money. I can see some more patients everyday, but eventually you can only work so much and with that will just take more time.

I already work from 8am-8pm everyday not even including my commute. More patients would just add more time to that. Quite frankly, with the liability and difficult patients I see all the time, I don't think I am paid enough of a premium to take on the risks I take.

I know everyone says they aren't paid enough, but I can literally be sued for anything, especially the surgeries I do. In addition, the aggravation of arguing with some patients on deductibles they owe, co pays etc. I don't know if you know what its like to argue with someone about a $32 bill after giving them necessary medical services because they have "insurance" and feel they are entitled to everything medically related for free, but it is draining.

I would love to hear your thoughts on becoming a financial advisor with a company like you were with.

What were the pros and cons? What kind of income can I expect and within how long? I have spoken to a few agents, but I know you will give me the "real" story. What was a day like for you? When did you really start taking off with your career there? Do a lot of people not make it? Why not? How do you actually make money as an advisor? Consulting fees? Ongoing commissions? Upfront fees for selling something? Do you develop a niche or do everything? Estate planning, group benefits, just individual consultation, etc.? I always imagine being in a nice, clean office, creating a plan for people's finances. Is there a bad side to the business in terms of lifestyle? Is it really difficult finding clients? I know there are hundreds of thousands of advisors so there is a lot of competition. Does the location where you practiced as a financial advisor make a big difference in income/quality of life and if there is a big gap in income between places like West Palm Beach, FL vs Dallas, TX vs Northern Virginia near DC, etc. Also, is it easy to transition from one location to another once you get started or is that a huge set back?

I am a religious listener to your show. Not only have I listened to every episode, but I have done so numerous times. I have all the frugality and investment stuff down for the most part, but trying to explore the whole quality of life and "work as if I can never retire" type of mentality.

This is obviously a huge decision so I wanted to get as much detail on the job as possible.

I would really appreciate your advice and promise I will follow up with you to let you know how everything turns out. I understand how busy you are so if you can't spare any time on this, I understand.

Thanks so much.

K

Open an account with TradeKing and get a $100 bonus! www.tradeking.com/radical  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

171. 311-Friday Q&A: Can US Americans Be Transformed Back Into Savers, Should I Pay Off My Mortgage Early, Should I Rent Out My Backyard as a Lot for a Tiny House, the Prospect of Creating Radical Personal Finance in Spanish
http://radicalpersonalfinance.... download (audio/mpeg, 45.42Mb)

Description:

On Fridays, I do a Q&A call-in show which is open to Patrons of the show. Today we cover:

Can US Americans Be Transformed Back Into Savers Should I Pay Off My Mortgage Early Should I Rent Out My Backyard as a Lot for a Tiny House The Prospect of Creating Radical Personal Finance in Spanish

If you'd like to participate in a Q&A call like this, please become a Patron of the show here: www.radicalpersonalfinance.com/patron 



172. 310-From a Plumber's Assistant in a Rural Farm Town to a Wealthy Businessman: Interview with Warren Prescott, One of My Former Bosses!
http://radicalpersonalfinance.... download (audio/mpeg, 43.08Mb)

Description:

I've been wanting to bring lots more "brick-and-mortar-type" entrepreneurs and success stories on the show. There are tons of incredible people out there that we can learn from.

But, I've learned that it's actually tough for me to get them on the show!

Generally, people with money who have nothing to sell don't seem to want to talk publicly about what they've learned.

But, even though it's tough, I'm still working on it.

And today, I get to bring you one of this type of interview.

My guest today is a former boss of mine, Warren Prescott. He's a great guy who started with few advantages in life. 

He started as a plumber's assistant as a teenager and today he's a wealthy businessman here in South Florida.

Enjoy learning from his experience!

Joshua

You Need A Budget!!! www.radicalpersonalfinance.com/ynab Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

 



173. 309-Practical and Actionable Advice for How You Should Respond to Doomsday Financial Predictions and Warnings in a Rational and Intelligent Manner
http://radicalpersonalfinance.... download (audio/mpeg, 48.07Mb)

Description:

I've featured several doom-and-gloom guests on recent shows. I like to give people an opportunity to make their case to me as convincingly as possible and I always enjoy challenging myself with catastrophic predictions.

But I struggle with a lot of the advice from those who predict global chaos in short order. Frankly, much of it is impractical.

So, in today's show I tackle the subject the way that I would tackle it if I were asked for my practical advice on the subject.

I hope it's useful for you!

Enjoy,

Joshua

Do you have student loans? Check out SoFi to see if you can refinance and save some cash! http://radicalpersonalfinance.com/sofi Support Radical Personal Finance directly on Patreon: http://radicalpersonalfinance.com/patron 

174. 308-Charitable Giving Strategies to Maximize Your Lifestyle and Your Impact: Interview with Patrick Renn, author of "Finding Your Money's Greater Purpose"
http://radicalpersonalfinance.... download (audio/mpeg, 50.28Mb)

Description:

I like to share as much "behind the curtains of the financial advice industry" stuff as possible. But I like to do it from a diverse perspective.

If you like seeing how good financial planning can dramatically impact a real-life scenario, this is a show for you.

My guest is Patrick Renn, a 35-year veteran of the financial planning industry. Patrick runs a wealth management firm in Atlanta, GA and specializes in helping his clients develop well-designed charitable giving programs.

If you enjoy seeing nuts and bolts of financial planning applied in the real world, you'll enjoy this show.

Enjoy!

Joshua

Patrick's book: "Finding Your Money's Greater Purpose: How to Make Your Legacy Count" http://rpf.link/1Ux8H1o  Website for the book: http://www.moneysgreaterpurpose.com/  Patrick's Wealth Management site: http://www.rennwealth.com/ Use the best budgeting tool in the world! http://radicalpersonalfinance.com/radical  Have student loans? Get a consultation with Jay Fleischman: http://studentloanshow.com/radical  Support Radical Personal Finance! http://radicalpersonalfinance.com/patron 

 



175. 307-Friday Q&A: Thoughts on Giving Unsolicited Advice, Average Rate of Return vs. Real Rate of Return, Group Life Insurance and Long-Term Disability Insurance Decisions, and More!
http://radicalpersonalfinance.... download (audio/mpeg, 54.27Mb)

Description:

On Fridays I do a Q&A show for Patrons of the show. www.radicalpersonalfinance.com/patron 

Today, we cover these topics:

Thoughts on Giving Unsolicited Advice Average Rate of Return vs. Real Rate of Return Group Life Insurance and Long-Term Disability Insurance Decisions and More!

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

176. 306-Interview with Robert Kiyosaki: the Life, Career, & Predictions of the Man Behind the Best-Selling Personal Finance Book of all Time (Rich Dad, Poor Dad)
http://radicalpersonalfinance.... download (audio/mpeg, 49.63Mb)

Description:

I recently had the opportunity to interview Robert Kiyosaki, the author of Rich Dad, Poor Dad, which is the top selling personal finance book of all time.

The concepts of Rich Dad, Poor Dad are well known in the personal finance circles. 

Rather than trying to get Robert to outline the content of his 20 books, I sought to unwrap a little bit of the man behind the story.

You can judge how I did!

Enjoy the show,

Joshua

Kiyosaki's website: www.richdad.com  Need a financial advisor? www.radicalpersonalfinance.com/paladin Looking for a new brokerage account? Get $100 bonus when you open an account here! www.tradeking.com/radical  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

177. 305-Mortgage Credit Certificates: The Coolest Mortgage Interest Credit You've Never Heard Of
http://radicalpersonalfinance.... download (audio/mpeg, 28.99Mb)

Description:

In January 2013, I bought a house, proceeded through the whole process really carefully and thought I'd made some pretty good decisions. 

But a couple months after closing, I found out that I'd missed an awesome tax credit and kissed $2,000 a year goodbye. How frustrating!

I hate missing out on free money, especially when I can get it out of the coffers of the US Government!

So, I want to help you do better. And I want to teach you about the Mortgage Credit Certificate (MCC) program.

Enjoy!

Joshua

Florida's MCC program details: http://rpf.link/1YCSCre Need a Financial Advisor? Start here: www.radicalpersonalfinance.com/paladin Open a brokerage account with TradeKing and get $100 credited to your account! www.tradeking.com/radical Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

 



178. 304-Friday Q&A: The Value of Full-Time Mothers and Fathers as Compared to Full-Time Wage Earners
http://radicalpersonalfinance.... download (audio/mpeg, 49.39Mb)

Description:

On Fridays, we do a Q&A phone conference here at Radical Personal Finance. Today's call was unusual in that we only had one caller, so we spent a lengthy amount of time discussing one particular issue.

Today's caller was responding to a previous podcast about how my wife and I handle our finances, specifically with regard to my role as a husband and her role as a wife.

We had an excellent conversation on the role of earning money versus the role of being a parent and how to work that out within the context of a family.

Enjoy the show!

Joshua

If you'd like to participate in these weekly Q&A calls, please become a patron of the show and you will gain access to the calls. www.RadicalPersonalFinance.com/patron  Why I Choose to Believe the Bible http://rpf.link/1QPPWAu

179. 303-Roth IRA vs. Traditional: Which One Pays Less Taxes?
http://radicalpersonalfinance.... download (audio/mpeg, 14.86Mb)

Description:

Will you pay less taxes when investing in a Traditional IRA or a Roth IRA? Do you know? Are you sure?

If you're not sure, the answer may surprise you.

Let me know if you're surprised!

Joshua

Support Radical Personal Finance: www.radicalpersonalfinance.com/patron 

180. Announcement re: Email: If You've Ever Emailed Me and Didn't Get a Personal Response, Please Try Again
http://traffic.libsyn.com/radi... download (audio/mpeg, 2.98Mb)

Description:

Hey Radicals!

If you have emailed me (especially through the contact form on my website) and I haven't personally responded, please assume that I simply never received your message.

I'd love to hear from you, so please write again!

From July of 2015 until February of 2016 the contact form had a technical glitch that prevented emails from coming through.

That means that I missed hundreds of your communications.

I'm sorry!

We've fixed the problem now, so please try again.

I'd enjoy communicating with you personally. I work very hard to respond to all of your emails so it's disheartening to me that many of you have sent me notes to which I never responded.

Again, my apologies!

Joshua



181. 302-Q&A: I Make $200k/yr. and I'm 30 Years Old and Single. And I'm Miserable. Please Help!
http://traffic.libsyn.com/radi... download (audio/mpeg, 43.27Mb)

Description:

Today on the show we answer this question:

"Hey Joshua,

"I'm a fairly new listener and have been going through some of your older podcasts to absorb as much info as possible. I think you could potentially provide some good advice that I'd love to hear answered in an upcoming podcast if possible...

"Since discovering your podcast I've completely changed my thoughts on savings and consumption. I've always lived pretty frugally (I thought) but it turns out I was making poor decisions all along. I bought a house last year thinking that was a fool proof way to hang on to my money. I only just ran the numbers this month since I've discovered your podcasts on homeownership, and I've discovered I would have been much better off renting. I've also cut my cell phone bill in half (still $70/month though) and cut back on my weekend golf habit which I was spending about $200/month on. In place of that I've decided to train for a triathlon which is free since I already have a decent road bike. So thank you for all those tips on saving! I'm continuing to find ways to save.

"My situation that I'd like your advice on is my current job. I'm an engineer making just south of $200,000/year. I'm working at a nuclear power plant in the middle of no where in Georgia. The closest town is Augusta which is still a 50+ minute commute each way (I'm single, 30 years old, and living in a trailer in the woods near the plant wouldn't going to help that situation). I'm working 50 hours/week plus the commute and 30 minute unpaid lunch break. My entire week is consumed by work and travel to work. This is a paperwork heavy desk job which brings me zero fulfillment. I would love to quit and chase short term seasonal outage work but my dividend/investment income isn't nearly enough to live off and I can't justify turning down this kind of steady income stream. I'm miserable but well paid. I'm afraid that if I quit, my experience level isn't enough to land me the highly sought after seasonal work I'd be trying to get. I believe you were likely in a similar pay scale when you quit your job and since your situation was similar to mine is I'd like your advice as to how to get more enjoyment out of life and work.

"Love the podcast!"

Enjoy the show!

Joshua

Get a $100 bonus when you open an account at TradeKing: www.tradeking.com/radical Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

182. 301-Careers, Entrepreneurship, and Raising Entrepreneurial Kids: Interview with Dan Miller from 48 Days to the Work You Love
http://traffic.libsyn.com/radi... download (audio/mpeg, 40.92Mb)

Description:

I'm up here in Nashville, TN at the moment and had the opportunity to connect with Dan Miller from 48 Days to the Work You Love.

Dan is a legend in the career advice business. He has helped many, many people transition from work that paid the bills to work that they love.

Dan has a lifetime's experience as an entrepreneur and in today's interview he shares his advice with us on:

Should everyone be an entrepreneur? Is entrepreneurship risky? How can we teach our kids to be entrepreneurs? How to decide when to save and when to spend. 

Enjoy!

Joshua 

Dan's website: www.48days.com Support RPF! www.radicalpersonalfinance.com/patron 

183. 300-Thirty Podcasting Lessons Learned From 300 Episodes and 2,000,000+ Downloads
http://traffic.libsyn.com/radi... download (audio/mpeg, 76.70Mb)

Description:

When I began podcasting, I was looking for information and advice. Although I found some good, there was a real paucity of advice from people who had done something like I wanted to do. 

I've been satisfied with a lot of the progress that I've made with Radical Personal Finance, and I want to give back to the podcast and community. 

So, in today's show we do not discuss personal finance or money at all. Rather, this show is all about podcasting. It's simply contains the lessons I have learned about podcasting and commentary on the things that have worked and the things that have not worked.

I hope this content is useful to you. And I hope that many of you will go out and start your own podcast. 

Joshua

Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

184. 299-The Philosophy of Modern Survivalism and Permaculture as Applied to Financial Planning: Interview with Jack Spirko, Host of The Survival Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 71.82Mb)

Description:

I've long admired Jack Spirko and his show "The Survival Podcast" as a voice of reason in an industry fueled by hyperbole and fear.

He does a great job of teaching people how to systematically build a lifestyle of resilience and freedom.

And, most important, he teaches that everything you do to build a prepared life should make your  life better if times get tough...or even if they don't.

Enjoy the interview!

Joshua

The Survival Podcast www.thesurvivalpodcast.com Get an extra $100 bonus when you open an account: www.tradeking.com/radical Try my favorite budgeting software for free! www.radicalpersonalfinance.com/YNAB 

185. 298-Friday Q&A: How to Practice Stealth Wealth, How to Locate Assets in a Tax Efficient Manner, Refinancing a HELOC to an Amortizing Loan, and How My Wife and I Handle Day-to-Day Money
http://radicalpersonalfinance.... download (audio/mpeg, 47.44Mb)

Description:

On Fridays I do Q&A. If you'd like to participate in a show like this, please become a Patron of the show and you will gain access to the information to call in for these shows. www.radicalpersonalfinance.com/patron 

Today we cover:

How to Practice Stealth Wealth How to Locate Assets in a Tax Efficient Manner Refinancing a HELOC to an Amortizing Loan How My Wife and I Handle Day-to-Day Money

Enjoy!

Joshua

NYT article mentioned: http://www.nytimes.com/2016/02/14/fashion/i-now-pronounce-you-husband-and-husband.html Man of Steel & Velvet: http://rpf.link/1TveV2D 

186. Meet Up With Me in Nashville, TN Next Week 2-22 to 2-25.mp3
http://traffic.libsyn.com/radi... download (audio/mpeg, 1.67Mb)

Description:

 I will be in Nashville, TN next week for a conference. If you're in the area, I would love to meet up with you. Please reach out to me on Twitter and let me know that you'd like to connect. www.twitter.com/joshuasheats



187. 297-From Writing About Personal Finance To Becoming Financially Independent: Lessons Learned with Jim Wang, Founder of Bargaineering and Wallet Hacks
http://radicalpersonalfinance.... download (audio/mpeg, 54.90Mb)

Description:

Can a hobby of writing about personal finance lead to becoming financially independent in a very short time? It did for Jim Wang, my guest on today's show.

Jim founded the site Bargaineering as a part-time hobby. It quickly became a leading voice in the world of personal finance websites. 

Ultimately, it led to Jim's becoming financially independent in a shockingly short amount of time.

In today's interview, we seek to go behind the story a bit. To learn about the personal story and lessons learned from Jim's experiences.

He has a lot to share that's very applicable to all of our lives.

Enjoy!

Joshua

Jim's current site: https://wallethacks.com/ (He is no longer affiliated with http://www.bargaineering.com/ ) Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin If you have student loans, connect with Jay Fleischman www.studentloanshow.com/radical 

188. 296-The Collapse of MF Global, Breakdown of Trust in the Financial Systems, the Prospect of Global War, and What It's Like to Be a Tax Protester on the Lam: Interview with Ann Barnhardt
http://radicalpersonalfinance.... download (audio/mpeg, 73.79Mb)

Description:

My guest today is Ann Barnhardt. I first became aware of Ann in late 2011 after she published a letter detailing the closure of her firm, Barnhardt Capital Management.

At the time, this letter troubled me. Many people make strong statements and publish strongly worded essays. But when someone follows through on their word to the point of closing a functioning firm, I pay attention.

I never could quite wrap my head around what happened at MF Global in 2011. Frankly, I still can't.

But I thought it would be awesome to invite Ann on the show to hear her first-hand experience.

She obliged.

During the course of our interview we discussed:

her professional background in the trading and commodities business what actually happened in 2011 in the markets what has happened since then her predictions for future world events what led her to become a tax protester

Enjoy the show!

Joshua

Ann's website: www.barnhardt.biz https://twitter.com/AnnBarnhardt Support Radical Personal Finance on Patreon www.radicalpersonalfinance.com/patron 

189. 295-You Don't Know What to Do Simply Because You Don't Yet Know What You Want
http://radicalpersonalfinance.... download (audio/mpeg, 17.51Mb)

Description:

Over the weekend, I was reading the book "unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now" by Clark Vandeventer while sitting in a tire repair shop, waiting for my tire to be patched.

When I came to this page, I stopped. And then I had an epiphany.

When you're very, very clear on what you want, it's simple and easy to decide what to do. But when you don't know what you want, it's almost impossible to decide what to do.

So, do you know what you want?

Enjoy the show!

Joshua

unWorking by Clark Vandeventer http://rpf.link/1oEAdxT the page that stopped me http://rpf.link/knowwhatwewant  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

190. 294-Friday Q&A: Liability Insurance, Life Insurance for a Stay-At-Home Mom, Real Estate Financing and Entities, And More!
http://radicalpersonalfinance.... download (audio/mpeg, 55.49Mb)

Description:

Friday Q&A show today!

Is an umbrella liability insurance policy a good idea? Should I buy life insurance for my stay-at-home wife at my job? How do I finance real estate? What type of entity should I choose for real estate investment?

Enjoy!

Joshua

www.radicalpersonalfinance.com/ynab www.radicalpersonalfinance.com/patron

191. 293-Don't Worry About a Comfortable Retirement, Focus on Working in Comfort Instead
http://radicalpersonalfinance.... download (audio/mpeg, 35.77Mb)

Description:

A lot of people in our modern society are very focused on saving for a comfortable retirement. But many people simply aren't going to be able to retire and comfort.

I think it's a real mistake to focus first on retiring comfortably if we haven't first made a plan for working comfortably.

And today show I'd like to share with you a formula for building a comfortable work life. I believe this is a formula that you can use to assess your current work situation and either appreciate all of the good things about it or make a plan to correct the bad things.

Take the concepts in today show and seriously consider your present work situation. Focus on working comfortably first and then, maybe, you'll never even bother with the whole idea of retirement!

Enjoy!

Joshua

Get a $100 bonus when you open a brokerage account with Tradeking. www.tradeking.com/radical
Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin
I'm presenting at the Online Investing Conference! Preview the ideas here: www.radicalpersonalfinance.com/OIC
Support Radical Personal Finance on Patreon! www.patreon.com/radicalpersonalfinance



192. 292-Personal Branding and Marketing, Entrepreneurship, and Lifestyle Design as CEO of a Company: Interview with David Hancock, CEO of Morgan James Publishing
http://radicalpersonalfinance.... download (audio/mpeg, 34.20Mb)

Description:

I'm delighted to have David Hancock on today's show. David is the founder and CEO of Morgan James Publishing.

David has a fascinating business history and you'll benefit greatly from hearing his story.

He's also an expert at personal branding and marketing.

Most importantly, he's figured out how to make an excellent living on his own terms while doing work he loves!

Enjoy!

Joshua

www.morgan-james-publishing.com  Get a $100 bonus when you open an account at www.tradeking.com/radical Check out the awesome Online Investor's Conference at www.radicalpersonalfinance.com/OIC  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

193. 291-Friday Q&A: Real Estate, How Much Money is Too Much in Qualified Accounts, Bank on Yourself and Infinite Banking, Stocks vs Bonds
http://radicalpersonalfinance.... download (audio/mpeg, 53.22Mb)

Description:

I've decided to start doing regular live call-in shows as part of our Friday Q&A. Today we cover these questions:

How much leverage/risk is appropriate when building a real estate portfolio? How much money is too much to have inside a qualified account? How do you get money out of a qualified account for early retirement? Is Bank on Yourself life insurance a good idea? What's the right asset allocation between stocks/bonds?

Enjoy!

Joshua

If you have student loans, make sure to get a review of those loans by Jay Fleischman to see if you can save money! www.studentloanshow.com/radical Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

194. 290-Stop Chasing Influencers: The True Path To Building Your Business and Living Your Dream: Interview with Co-Author Kimanzi Constable
http://radicalpersonalfinance.... download (audio/mpeg, 39.17Mb)

Description:

Do you have some excuses as to why you can't be successful? Well, get ready to get your excuses kicked in.

My guest today is Kimanzi Constable. He started his career as a bread delivery driver and hustled his way into becoming a highly paid, internationally-recognized author, speaker, and coach.

Along the way, he lost 170 pounds, paid off $180,000 in debt, and learned a thing or two about business.

Enjoy the show!

Joshua

Stop Chasing Influencers: The True Path To Building Your Business and Living Your Dream http://rpf.link/1L16J1Q  Have student loans? Grab a consultation with Jay Fleischman and save some cash! www.studentloanshow.com/radical  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

195. 289-The Impact of Your Behavior on Your Financial Results: Interview with Carl Richards, author of The Behavior Gap and The One Page Financial Plan
http://radicalpersonalfinance.... download (audio/mpeg, 54.68Mb)

Description:

What makes a bigger difference on your financial outcome: the behavior of your investments or the behavior of you, the investor?

Today I have an awesome interview for you with Carl Richards, author of "The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money" and "The One-Page Financial Plan: A Simple Way to Be Smart About Your Money."

Both books are well worth your time.

In addition to being a financial advisor, Carl is the awesome dude behind the Sketch Guy column in the New York Times.

Enjoy the interview!

Joshua

Carl's website: http://www.behaviorgap.com/ The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money http://rpf.link/1PQuIC5 The One-Page Financial Plan: A Simple Way to Be Smart About Your Money http://rpf.link/1RZatbQ Looking for a Financial Advisor? Start here: www.radicalpersonalfinance.com/paladin Would you like to support Radical Personal Finance? Go here: www.radicalpersonalfinance.com/patron 

196. 288-A Perfect Buy vs. Rent Case Study and Analysis
http://radicalpersonalfinance.... download (audio/mpeg, 28.66Mb)

Description:

This weekend a friend of mine asked me for my input on whether they should continue renting their townhome or buy an equivalent unit. 

It's almost the perfect, real-life case study to consider:

practically identical units current market prices real numbers to analyze.

I seized the opportunity to talk it through and run the numbers.

Enjoy!

Joshua

www.studentloanshow.com/radical www.tradeking.com/radical https://onlineinvestingconference.com/online-investing-conference-content8292jpjv?affiliate_id=429857  www.radicalpersonalfinance.com/radical 

197. 287-Drive for Free by Fueling Your Car with Wood: Interview with Chris Saenz and Wayne Keith from DriveOnWood.com
http://radicalpersonalfinance.... download (audio/mpeg, 28.30Mb)

Description:

Low gas prices have you cheering? Good! But what about when they go back up? Do you have a plan for that?

How cool would it be if you could use a fuel other than gasoline in your car? You can! You can run it on wood.

My guests today are experts on exactly that. Chris Saenz and Wayne Keith run the website www.DriveOnWood.com

Wayne holds a number of world records of driving entirely on woodgas including fastest speed, longest distance, etc.

 

Enjoy learning how to drive for free!

Joshua

Chris and Wayne's website: www.DriveonWood.com Support Radical Personal Finance! www.radicalpersonalfinance.com/patron 

198. 286-My Review of the "Building Wealth One House at a Time" Seminar by John Schaub
http://radicalpersonalfinance.... download (audio/mpeg, 38.82Mb)

Description:

I had the opportunity to attend John Schaub's "Building Wealth One House At a Time" seminar in Sarasota, FL on January 16 & 17, 2016.

I've been a fan of Schaub's work for quite a while. After reading his books and many others, I decided that his approach and plan is the approach to real estate that's right for me. So I went to the seminar.

I was extremely impressed with the seminar. It was exactly what I hoped it would be. 

In the show today I share with you:

the fundamentals of John's approach to real estate investing, the outline of the seminar and topics covered, what I loved about the seminar, and a few suggestions for improvement.

Enjoy the show!

Joshua

John's website: http://www.johnschaub.com/schaub-seminars/  Building Wealth One House at a Time: Making it Big on Little Deals http://rpf.link/1KGi4Ev  Get $100 bonus when you open a brokerage account at www.tradeking.com/radical Start your search for a financial advisor at: www.radicalpersonalfinance.com/paladin Support RPF on Patreon: www.radicalpersonalfinance.com/patron 

199. 285-What Does Financial Fraud Smell Like?
http://radicalpersonalfinance.... download (audio/mpeg, 44.07Mb)

Description:

When I was younger I was easily duped by the financial fraudsters that seek to build their empires by deceiving people. Thankfully, I never had any major financial losses, but I was definitely hurt when I discovered how gullible I was.

Since then, I've developed some slightly better skills for sniffing out fraud and questionable advice. And in today's show, I share some of my tips with you.

I hope that together we can continue to develop our own skills of critical thinking and spread those skills to others. We certainly need more critical thinking across our society!

Joshua

Remember the woman who spilled hot coffee and sued? http://www.nytimes.com/2013/10/21/booming/not-just-a-hot-cup-anymore.html How Martin Luther King, Jr. Got Away With Plagiarism: Different Strokes for Different Folks http://www.garynorth.com/public/335.cfm Other essay I read from: http://www.garynorth.com/members/8981.cfm Martin Luther King, Jr. authorship issues https://en.wikipedia.org/wiki/Martin_Luther_King,_Jr._authorship_issues Content of Character: Holiday for a Sex Addict (Martin Luther King's "Greatest Struggle") http://www.freerepublic.com/focus/news/2430999/posts Start your search for a financial advisor with advisors who have been vetted and researched in advance: www.radicalpersonalfinance.com/paladin  Refinance your student loans with SoFi and get a $200 bonus! www.radicalpersonalfinance.com/sofi Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron 

200. 284-Job Free: Four Ways to Quit the Rat Race and Achieve Financial Freedom on Your Terms-Interview with Jake DeSyllas
http://radicalpersonalfinance.... download (audio/mpeg, 57.93Mb)

Description:

Most of us in the Radical Personal Finance community are pursuing our own financial independence. And most of us want to get there as quickly as possible!

But, most of us only have one idea of one way to get there. Did you know there are a bunch of different ways to go job-free and gain financial freedom!

I'm excited to bring you my interview with Jake Desyllas, author of "Job Free: Four Ways to Quit the Rat Race and Achieve Financial Freedom on Your Terms."

If you have any interest in ever being financially free, this book is a must-read book. (And this interview is a must-listen interview!)

Jake has done an incredible job of distilling all the plans and strategies available into a simple, clear framework that you can use to design your ideal financial freedom plan.

Enjoy!

Joshua

Job Free: Four Ways to Quit the Rat Race and Achieve Financial Freedom on Your Terms www.thevoluntarylife.com $100 bonus when you open an account! www.Tradeking.com/radical Save money on your student loans! www.studentloanshow.com/radical 

 



201. 283-Nine Benefits of Having a Job!
http://radicalpersonalfinance.... download (audio/mpeg, 29.32Mb)

Description:

I talk a lot about business, entrepreneurship, and freedom on Radical Personal Finance. But I probably give short shrift to the incredible benefits of having a job!

Our jobs usually provide the foundation we need to support our families, satisfy our responsibilities and obligations, and save the money we need to invest!

Today, I share with you 9 benefits I came up with for having a job! 

Enjoy!

Joshua

Scratch Beginnings: Me, $25, and the Search for the American Dream Build a business based on your own best-selling book: www.ThePublishingDoctor.com Cut the interest rate on your student loans with SoFI (and get $200!) www.radicalpersonalfinance.com/SoFI Support the show on Patreon! www.radicalpersonalfinance.com/patron 

202. 282-How to Effectively Handle Money Together as Husband and Wife: Interview with Talaat and Tai from His and Her Money
http://radicalpersonalfinance.... download (audio/mpeg, 34.95Mb)

Description:

Managing money by yourself can be a real challenge. But managing money with your spouse can feel so much harder!

But does it have to be that way?

Today I have Talaat and Tai from www.HisAndHerMoney.com on the show to discuss the topic with me. They have some deep experience and insight to share with us.

Enjoy the show!

Joshua

Talaat and Tai's website: www.HisAndHerMoney.com Join their www.SmartMoneyCouples.com community! Get clear on your goals by meeting with a financial advisor! www.radicalpersonalfinance.com/Paladin Get a plan for your daily money: www.radicalpersonalfinance.com/YNAB  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

203. 281-Why I've Chosen to Invest in Real Estate
http://radicalpersonalfinance.... download (audio/mpeg, 51.86Mb)

Description:

There are three things we control with regard to wealth building: how much we make, how much we spend, and the rate of return we earn on our investments.

Those are the only three things you can change and affect. And they're the three things that will make the difference in how wealthy you become.

My personal investment strategy has changed and developed over the years. But, going forward, I've decided to invest in real estate.

In today's show I share with you some of the back story and some of the reasons I've made this decision.

Remember, my goals and skills are different from yours; learn from me, but don't copy me.

Enjoy the show!

Joshua

Do you have student loans? Do you know someone with student loans? Find the best way to pay them off! www.studentloanshow.com/radical Would you like to open your stock account with an extra $100? Do it here! www.tradeking.com/radical Interested in supporting the show directly? Please do! www.radicalpersonalfinance.com/patron 

204. 280-Making the Transition to Retirement: Interview with Fritz Gilbert from The Retirement Manifesto
http://radicalpersonalfinance.... download (audio/mpeg, 52.32Mb)

Description:

Tonight I'm pleased to bring you an interview with Fritz Gilbert from the website: www.TheRetirementManifesto.com

Fritz is an awesome guy who is just a couple of years away from an early retirement! He's here today to share with us his wisdom and perspective on making a successful transition to retirement.

Enjoy the show!

Joshua

Refinance your student loans and get a $200 bonus! www.radicalpersonalfinance.com/sofi  Make this the year you write your book! Contact publishing coach Patrick Snow for help! www.thepublishingcoach.com Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

205. 279-Get Paid To Adventure Travel the World With Your Family and Still Save a Ton of Money! Interview with Sara Miner
http://radicalpersonalfinance.... download (audio/mpeg, 37.36Mb)

Description:

Many people dream of saving enough money to travel the world. But what if there were a way to get paid to travel the world?

There is. It's not a pipe dream. 

In fact, there's not just one way. There are many, many ways!

In today's show we speak with Sara Miner. Sara is a longtime listener and supporter of the show and she and her husband get paid handsomely to do work they care about in adventurous locations around the world.

I invited her on to the show to share her story and advice.

Enjoy the show!

Joshua

Do you have student loans? Spend some time with Jay Fleischman and chart out the smartest way out of debt: www.studentloanshow.com/radical Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron 

206. 278-What Do You Do When You're Trapped in an Upside Down Car Loan?
http://radicalpersonalfinance.... download (audio/mpeg, 23.75Mb)

Description:

Today, we cover this question from a listener:

Joshua,

I know you get a lot of questions, but I was wondering if you have a radical way to get out of an upside down car loan.

I do financial coaching for people in our church who have requested benevolence, and most of them have large car payments - e.g. Someone owes $25,000 on a car worth $15,000. I cannot find a solution that is good (and maybe there is none).

Dave Ramsey says borrow the difference so you have a smaller loan, but by the time someone is requesting benevolence, they cannot qualify for borrowing any more.

Other ideas of rolling it into another car loan with incentives aren't great either. It is really the $3,000 in negative equity and more that I am looking to solve for.

Any radical ideas?

Travis

Open a brokerage account with TradeKing and get a free $100 bonus! www.tradeking.com/radical Start the new year off right by learning the skill of budgeting! www.radicalpersonalfinance.com/YNAB  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

207. 277-Early Retirement FAQs: How Do I Plan For Inflation? Interview with Joe, AKA. Arebelspy (who just retired at 30 on a schoolteacher's salary)
http://radicalpersonalfinance.... download (audio/mpeg, 74.54Mb)

Description:

Today we continue with our "Early Retirement FAQ" series with Arebelspy by tackling the topic of inflation! How do you manage inflation risk in retirement? And, even more important, how do you manage inflation risk in very early retirement?

This topic is especially important to Arebelspy because he and his wife just retired at the age of 30 and are now traveling the world together! (Even cooler, they did it while earning schoolteacher salaries!!!)

Enjoy!

Joshua

Save money on your debt payments by refinancing your student loans with SoFI: www.radicalpersonalfinance.com/sofi Get your book out of your head and onto paper by working with publishing coach Patrick Snow! www.thepublishingdoctor.com Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

208. 276-Why This Financial Planner Refuses to Save Money for His Kids' College
http://radicalpersonalfinance.... download (audio/mpeg, 49.79Mb)

Description:

Recently I received this personal note from a personal friend of mine: "My wife suggested I reach out to you for advice as we plan to start saving for our soon-to-be-born-son's education.  Hard to believe it's going to be just a few weeks now.  I've looked into our state's 529 plan, but wasn't sure if there were better options.  Any advice would be greatly appreciated." 

My advice in response was simple: don't set up a college plan for your young child. It's a bad idea and a poor use of money in light of all the other things you can do with money that are better.

Interested?

Listen.

:)

Joshua

Do you have student loans hanging over your head because your parents didn't save for you? Go here: www.studentloanshow.com/radical Would you like to establish an investment account for your investing goals? Go here and get a $100 bonus: www.tradeking.com/radical Would you like to support RPF directly? Go here: www.radicalpersonalfinance.com/patron  http://10ktotalent.com/  http://www.brokebladesmith.com/ https://www.instagram.com/bladesofbelaq/ http://blog.penelopetrunk.com/2006/08/27/your-family-would-be-better-off-with-a-housewife-so-would-mine/ 

209. 275-Selecting a Brokerage Company for Your Stock Ownership & Trading: Intro to Our New Sponsor TradeKing
http://traffic.libsyn.com/radi... download (audio/mpeg, 26.02Mb)

Description:

I'm excited to launch a brand-new sponsor here in the new year! Our new sponsor is TradeKing.

You should be familiar with the TradeKing name--I previously interviewed the CEO, Don Montanaro, on Episode 240 of the show.

I sat down with Don in his Ft. Lauderdale office and we talked about the brokerage business and business model.

We discussed: 

TradeKing's history The competitive landscape of the brokerage business The value proposition for brokers

If you'd like to open a trading account with TradeKing, they will give you an extra $100 if you sign up through my tracking link: http://tradeking.com/radical

Enjoy the show!

Joshua

Get a $100 bonus to your account when you use my special tracking link! http://tradeking.com/radical

210. 274-You Can Become and Stay Wealthy If You Focus On Systematically Developing and Perfecting the Simple Skills of Wealth
http://traffic.libsyn.com/radi... download (audio/mpeg, 30.74Mb)

Description:

One of my major breakthrough moments in life occurred when I learned that success skills were simply that: skills. The same applies to wealth.

Success and wealth are not accidents. People are not wealthy by chance, happenstance, or accident. People become wealthy because:

1. They unconsciously learned the knowledge and applied the skills of wealth; or,
2. They self-consciously learned the knowledge and applied the skills of wealth.

For me, that concept was incredibly helpful.

As we begin a new year, I encourage you to focus on the skills that you need to identify, learn, and perfect during 2016 that will ultimately lead to wealth.

Enjoy the show!

Joshua

Learn and apply the skill of budgeting: www.radicalpersonalfinance.com/YNAB Learn what you don't know about your financial plan by meeting with a financial advisor: www.radicalpersonalfinance.com/Paladin Support RPF on Patreon: www.radicalpersonalfinance.com/Patron 

211. A Brief Christmas Card from Me to You
http://traffic.libsyn.com/radi... download (audio/mpeg, 14.07Mb)

Description:

Hey Radicals,

I'm in the process of shutting the show down for 2015 and heading off for the holidays.

Before I go, I simply want to share a personal greeting with you and a few quick, encouraging thoughts. Listen to the episode!

Merry Christmas to you and yours. May you and your family be richly blessed this holiday season and may 2016 be your best year ever!

Love,

Joshua



212. 273-Three Budgets You Should Establish for 2016: Time, Money, and Food
http://radicalpersonalfinance.... download (audio/mpeg, 52.46Mb)

Description:

The skill of budgeting is one of the major skills that drives the level of success you achieve in life. But it's a skill that's not only applicable to money but also to other areas of life.

In today's show I share with you my ideas on budgeting:

How budgeting is applicable to many areas of life, not only money. The three major stages of budgeting. Big ideas on concepts that are applicable to all kinds of budgeting. Three types of budgeting tools.

Enjoy the show!

Joshua

Do you have student loans? I recommend connecting with Jay Fleischman for a review: www.studentloanshow.com/radical Interested in writing a book? Call the Publishing Doctor: www.thepublishingdoctor.com  Need a budgeting system? Try YNAB www.radicalpersonalfinance.com/YNAB and Tiller www.tillerhq.com/radical  Need a time-tracking system? Try Toggl. www.toggl.com 

213. 272-A Proven Strategy to Increase Your Income in the Next Year
http://radicalpersonalfinance.... download (audio/mpeg, 41.72Mb)

Description:

I was honored with a very cool mention in a New York Times article yesterday (link below) and I thought it a perfect time to build on the subject of how to increase your income!

In today's show, I share with you my complete framework for increasing your income. The show is heavy on strategy--you'll have to fill in the specific tactics appropriate for your situation.

We cover:

The only 3 ways to increase your income. Which to focus on in the short-term and which to focus on for the long-term. Specific strategies for each of the 3 ways.

Enjoy the show!

Joshua

Links:

NY Times article: Your Most Valuable Asset is You http://www.nytimes.com/2015/12/15/your-money/your-most-valuable-asset-is-yourself.html Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin Use the same budgeting software that I use: www.radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

 



214. 271-Achieving Financial Independence at a Crazy Young Age! Interview with Mike and Lauren from www.MikeAndLauren.com
http://radicalpersonalfinance.... download (audio/mpeg, 48.21Mb)

Description:

I enjoy YouTube. But it's tough to find a good personal finance YouTube channel! Thankfully, there's at least one!

My guests today are Mike and Lauren. They are awesome personal finance and early retirement YouTube personalities.

We were able to connect for an interview at #FinCon15 so that I could bring you their story.

Why should you listen?

Well, perhaps you'd like to know how they're on track to retire by the age of 30 even though they never made a ton of money or sold a business.

It's all here!

Enjoy the show!

Joshua

Their website: www.mikeandlauren.com YouTube channel: www.mikeandlauren.tv Have student loans? www.studentloanshow.com/radical  Need a financial advisor? Go here! www.radicalpersonalfinance.com/paladin Support RPF on Patron! www.radicalpersonalfinance.com/patron 

215. 270-Myths & Facts: 9 Things I Used to Believe (and Teach) About Home Ownership That I No Longer Believe
http://radicalpersonalfinance.... download (audio/mpeg, 50.83Mb)

Description:

Following up on yesterday's show, I share with you today 9 myths surrounding the topic of home ownership.

These are things that I used to believe and I learned (through the process of owning my own home) that I was wrong.

Learn from my mistakes and consider how many of the things we commonly believe about home ownership might not be quite so true as we wish!

Enjoy!

Joshua

Do you have student loans? I strongly recommend you sit down for a consultation with Jay Fleischman, host of the Student Loan Show. www.studentloanshow.com/radical Are you interested in publishing a book? Call my publishing coach, Patrick Snow! Start here: www.thepublishingdoctor.com or text Patrick at 206-310-1200 Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

216. 269-Why We Sold Our House and Moved Into a Rental Apartment!
http://radicalpersonalfinance.... download (audio/mpeg, 51.42Mb)

Description:

This past Friday we closed on the sale of our house. We owned it for just under three years. When we bought it we had intended to own it for 40 years.

Why did we sell?

The full story is here in this episode of the show!

Check it out and learn from our successes and our failures!

Joshua

Are you interested in working with a financial advisor? Start your search here! www.radicalpersonalfinance.com/paladin Get a budgeting plan in place before 2016 arrives! Download a free copy of YNAB: www.radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/Patron 

217. 268-Training Your Kids for Financial Responsibility: Interview with Rocky Lalvani from Richer Soul
http://radicalpersonalfinance.... download (audio/mpeg, 51.82Mb)

Description:

Many of us have made mistakes on our way to financial stability. Hopefully we've learned from those mistakes--but wouldn't it be fantastic if we could help the next generation to avoid some of those mistakes?

My guest today is Rocky Lalvani. He's a long-time listener of the show, contributor, and Patron. We connected in-person at #FinCon15 and sat down for this interview!

Rocky has an awesome immigrant rags-to-riches story that you'll enjoy. He also has a depth of experience in training his children to be financially strong.

Enjoy!

Joshua

Rocky's website: http://richersoul.com/  Subscribe to my new podcast "Encouraging Christian Fathers" in iTunes! www.rpf.link/ECFiTunes Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/Patron 

218. 267-Automate your Spreadsheets and Simplify Your Accounting with Tiller: Interview with Peter Polson
http://radicalpersonalfinance.... download (audio/mpeg, 46.61Mb)

Description:

While I was in Charlotte for #FinCon15, I connected briefly with a man named Peter Polson who told me about a new tool he had built to automate the creation of financial spreadsheets.

After I got home I signed up for his service and started testing it. I like it! And I think some of you will find it very useful.

The Tiller service is a way to automate the import of financial data to your spreadsheets. This eliminates the most time-consuming part of creating spreadsheets and opens up a world of possibilities!

Listen to the interview! And, if you'd like, try the service free for two months by using my link: www.tillerhq.com/radical

Enjoy!

Joshua

Try Tiller free for two months! www.tillerhq.com/radical Do you have student loans? If so, you need to do a review with Jay Fleischman. Find all the details here: www.studentloanshow.com/radical Do you want to refinance your student loans to save money? If so, start with SoFi for the best deal. Get an extra $200 by using my referral link: www.radicalpersonalfinance.com/SoFi Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

 



219. 266-Financial Independence in Your 20s Without Missing a Party! Interview with Martin Dasko from Studenomics
http://radicalpersonalfinance.... download (audio/mpeg, 35.19Mb)

Description:

Does being frugal and building financial independence mean that you can't have any fun? And, is it possible to get through college on a budget and still have fun?

Today we have a fun discussion with Martin Dasko from the personal finance blog Studenomics.

Martin has an awesome approach to teaching young men and women how to build financial independence without missing a party!

Enjoy!

Joshua

Martin's site: http://studenomics.com/ Need a financial advisor? Start here: www.radicalpersonalfinance.com/paladin Interested in publishing a book? Call my publishing coach, Patrick Snow: www.thepublishingdoctor.com Text him at 206-310-1200 for a complimentary consultation. Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

220. 265-Why Passive Investing and Index Funds are the Only Right Way to Invest: Interview with Rick Ferri from Portfolio Solutions
http://radicalpersonalfinance.... download (audio/mpeg, 44.43Mb)

Description:

It's easy to jump into holiday mode, but don't jump just yet! Let's keep our work boots on and learn just a little bit about investing today before we get into the Thanksgiving holiday.

My guest today is Rick Ferri, founder of a company called Portfolio Solutions. Rick is a really great guy and a real expert at investing and portfolio construction.

You'll hear his detailed background in the show and I think you'll come away from today's episode with a deeper sense of respect for what he's doing.

Those of you who are commited indexers will love today's show. And those of you who aren't will have some work to do to defend your viewpoints after today's show.

Enjoy!

Joshua

Do you have student loans? If so, you need to do a review with Jay Fleischman. Find all the details here: www.studentloanshow.com/radical Do you want to refinance your student loans to save money? If so, start with SoFi for the best deal. Get an extra $200 by using my referral link: www.radicalpersonalfinance.com/SoFi Please consider supporting the show on Patreon: www.radicalpersonalfinance.com/patron 

221. 264-How to Cut the Interest Rates on Your Student Loans by Refinancing with Sofi: Interview with Dan Macklin, Co-Founder of Sofi
http://radicalpersonalfinance.... download (audio/mpeg, 38.34Mb)

Description:

Today on Radical Personal Finance I'm pleased to introduce you to a brand-new sponsor! And, it's a sponsor who will help you save some cash!

I've been aware of SoFi for quite awhile and they were high on my list of brainstormed potential sponsors for the show. I was finally able to connect with them at #FinCon15 in Charlotte this year and to hammer out the terms of a sponsorship agreement.

SoFi is a very cool new company that is bringing real innovation to the lending space. They got their start by helping people refinance student loans but now they're aggressively expanding to other areas as well.

My guest today is one of the co-founders, Dan Macklin. Sit back and enjoy the story of entrepreneurship and industry-changing innovation!

Joshua

Refinance your student loans with Sofi: www.radicalpersonalfinance.com/SoFi Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/Patron 

222. 263-Q&A: Recording of the Live Patron Q&A Conference Call
http://radicalpersonalfinance.... download (audio/mpeg, 49.54Mb)

Description:

During October and November I've been doing a weekly conference call with Patrons of the show. 

We've been talking about all kinds of interesting subjects!

On today's call we chatted about:

disability insurance (including disability overhead expense insurance and cash indemnity long-term care policies) investment planning the politics of money and more!

Enjoy!

Joshua

Have student loans? Before you do anything else with your loans, sit down for a review with Jay Fleischman. www.studentloanshow.com/radical Thinking about writing a book? Speak to Patrick Snow from www.thepublishingdoctor.com Text him at 206-310-1200 for a complimentary consultation about your potential book. Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

223. 262-How Risky is Your Income? Applying the Concepts of Diversification to Wages and Profits
http://radicalpersonalfinance.... download (audio/mpeg, 32.14Mb)

Description:

We talk a lot about diversification within the context of investments. But what about diversification of your income?

After all, how risky is it for you to depend on a single source of income to fund your life and lifestyle?

The paradox is this: the more specialized you become in your career, the more you can earn. But the more specialized you are, the riskier your income is!

The challenge is for us to figure out how to reconcile these two things.

Today, I share my thoughts on the subject with you.

Enjoy!

Joshua

Do You Need A Budget? Try the same budgeting software that I use and love! www.radicalpersonalfinance.com/YNAB Are you looking for a financial advisor? Start your search here! www.radicalpersonalfinance.com/Paladin Would you like to support Radical Personal Finance? Please become a Patron of the show! www.radicalpersonalfinance.com/patron 

224. 261-Getting Rich with Real Estate...and Then Getting Richer With Business! Interview with Josh Dorkin, Founder of Bigger Pockets
http://radicalpersonalfinance.... download (audio/mpeg, 50.75Mb)

Description:

BiggerPockets.com is the largest real estate resource online--perhaps in the world. Today we have Josh Dorkin, the founder of Bigger Pockets, on the show to share the story with us.

The story is a classic case of an entrepreneurial endeavor gone well. 

Sit back, pay attention, and learn the lessons and themes of how one person went from struggling real estate investor to become king of a real estate empire.

Enjoy!

Joshua

Bigger Pockets: www.biggerpockets.com Do you have student loans? Connect with Jay Fleischman and do a professional review of your student loan options. Go here: www.studentloanshow.com/radical Have you ever thought of writing a book? Connect with my publishing coach, Patrick Snow. Text him at 206-310-1200 for a complimentary consultation and visit www.thepublishingdoctor.com  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

225. 260-An Introduction to Trusts in the Context of Estate Planning
http://radicalpersonalfinance.... download (audio/mpeg, 32.18Mb)

Description:

The word "trust" has a bit of a mystique in the modern financial world. It's a word that everyone knows (we all know a "trust fund kid") but few people understand and even fewer understand accurately.

Trusts are both simple and complex. They're simple in concept but can be quite complex in application.

Today I share with you some basic background on trusts and trust planning. 

I also share with you some thoughts regarding the use of a revocable living trust within the context of your personal estate planning.

Enjoy the show!

Joshua

Are you looking for a personal financial advisor? Start your search here! www.radicalpersonalfinance.com/paladin  You Need A Budget! Try the same budgeting software I use, free for 30 days: www.radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/Patron 

 



226. 259-What's It Like To Actually Hit Financial Independence at a Shockingly Young Age? Interview with Brandon (the Mad Fientist) and Jill
http://radicalpersonalfinance.... download (audio/mpeg, 46.72Mb)

Description:

Wouldn't it be cool if you could work really hard for a few years, save aggressively, and then quit your job and travel the world?

Today's guest has done just that. Today I have Brandon, the Mad Fientist, and his wife Jill on the show!

Brandon recently hit his Financial Independence number and he and Jill hit the road for some long-term travel.

Enjoy this interview where we dig into what's great about financial independence and what ain't so great.

Enjoy!

Joshua

Brandon's website: http://www.madfientist.com/ Sponsor: do you have student loan? Call Jay Fleischman. Listen to his first and second interview on the show and then go here: www.studentloanshow.com/radical Have you ever thought of writing a book? You should at least consider it! Talk to publishing coach, Patrick Snow. www.thepublishingdoctor.com For a complimentary 30-60 minute consultation text Patrick at 206-310-1200. Do you love Radical Personal Finance? Please support the show on Patreon! www.radicalpersonalfinance.com/patron 

227. 258-Do You Have Student Loans? Here's What You Need to Do! Interview with Attorney Jay Fleischman, Host of the Student Loan Show
http://radicalpersonalfinance.... download (audio/mpeg, 60.73Mb)

Description:

I'm thrilled to bring Jay Fleischman back on the show. Jay was a guest on Episode 214 of the show and it was a popular show and I received a lot of great feedback.

Most importantly, I learned a ton from the interview!

Today, Jay and I tackle the actual process of analysis. If you have student loans, Jay gives you the step-by-step action plan for what you need to do in order to analyze your options.

We're also launching Jay as the newest sponsor of Radical Personal Finance. He's a perfect fit for a sponsor and I think he'll be able to serve you in some really wonderful ways.

Listen to the show. Then:

Subscribe to the Student Loan Show in iTunes: http://rpf.link/SLSiniTunes If you have student loans, sign up for a consultation with Jay using the special discount code here: http://www.studentloanshow.com/radical/

Enjoy the show!

Joshua



228. 257-The Four Major Estate Planning Documents that Everybody Needs: a Will, a Living Will, a Medical Power of Attorney, and a Durable Power of Attorney
http://radicalpersonalfinance.... download (audio/mpeg, 27.38Mb)

Description:

Ever wondered about the basics of estate planning? Today's show is a simple overview of the major estate planning documents.

We talk about wills, living wills, and powers of attorney and discuss what they mean and why they're important.

This is not a technical deep-dive; this is a light and friendly overview.

Enjoy the show!

Joshua

Do you have a question you'd like me to answer about estate planning? Ask me here! http://rpf.link/1RBBZIW Support Radical Personal Finance on Patreon! http://www.radicalpersonalfinance.com/Patron 

 



229. 256-Escaping a Lifestyle of Drudgery for a Lifestyle of Freedom as an Itinerant Writer: Interview with Jeff Goins, Writer
http://radicalpersonalfinance.... download (audio/mpeg, 42.13Mb)

Description:

Many of us are focused on the primary goal of transitioning from work that doesn't suit us to work that does. After all, if we can solve the work conundrum, our lifestyle can be massively improved even if we're not yet rich!

My guest today is Jeff Goins and he has blazed the trail ahead of us and has successfully made the transition to a career he loves.

Even better, he's written a book on how you can do the same thing!

Enjoy the interview and the learning!

Joshua

Jeff's site: www.GoinsWriter.com  Jeff's new book, "The Art of Work: A Proven Path to Discovering What You Were Meant to Do" http://rpf.link/1NuuFzu Interested in writing a book? Connect with my personal publishing coach, Patrick Snow, and chop months off of your learning! Browse his information at www.ThePublishingCoach.com  or text him at 206-310-1200 for a complimentary 30-60 minute consultation. If you're going to transition from a steady paycheck to work you love, you must be the master of your budget! Start by using the YNAB software. Get a free 30-day trial here: www.RadicalPersonalFinance.com/YNAB Support Radical Personal Finance on Patreon! www.RadicalPersonalFinance.com/Patron

230. 255-How To Decide if You Should Repair Your Car or Replace It
http://radicalpersonalfinance.... download (audio/mpeg, 31.21Mb)

Description:

It happens to so many people: your car breaks down at an inconvenient time and you're facing a massive repair bill. The stress starts to mount and you find yourself wondering--should I just go out and buy a new one?

Or, sometimes worse, you feel like every other week you're flushing money down the drain to fix your car and you're getting tired of it. Feeling totally frustrated, you're tempted to trot out and assuage the headache with a new car.

Should you do it?

How should you try to assess your options and make the decision?

That's the question I tackle in today's show. 

Listen in and let me know what you think!

Joshua

Interested in publishing a book? Call the Publishing Doctor first! Check out www.thepublishingdoctor.com and text Patrick for a complimentary consultation: 206-310-1200 Are you searching for a financial advisor? Start your search here: www.radicalpersonalfinance.com/paladin  Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron 

231. 254-Get Rich Slowly and then Get Rich Fast: Interview with JD Roth, the Godfather of Financial Blogging
http://radicalpersonalfinance.... download (audio/mpeg, 61.02Mb)

Description:

I had the opportunity to connect with JD Roth, one of the most well-known personal finance bloggers in the industry while I was in Charlotte, NC at #FinCon15.

We had a great interview. 

We talked in detail about JD's personal story with finance and how he set out to Get Rich Slowly--and wound up getting rich fast.

We also talk about the great things and not-so-great things that resulted from the journey!

Enjoy the interview!

Joshua

JD's current project: www.MoneyBoss.com You Need a Budget! Try out this software and see how you like it: www.RadicalPersonalFinance.com/YNAB Looking for a Financial Advisor? Start your search here: www.RadicalPersonalFinance.com/Paladin Support Radical Personal Finance on Patreon! www.RadicalPersonalFinance.com/Patron Is public schooling the largest industry in the world? https://youtu.be/ws4a-GMQ1MI?t=1h13m33s How much money does the United States spend on public elementary and secondary schools? http://nces.ed.gov/fastfacts/display.asp?id=66 The real cost of public schools: http://www.cato.org/publications/policy-analysis/they-spend-what-real-cost-public-schools 

232. 253-Q&A: Recording of the Live Patron Q&A Conference Call
http://radicalpersonalfinance.... download (audio/mpeg, 90.73Mb)

Description:

Today I'm sharing with you the audio from the live conference call I recently hosted for all the Patrons of Radical Personal Finance. 

This was a super-fun experience for me! Having the live interaction was fun. Topics included:

social capital entrepreneurship long-term care insurance investing career development and more!

Enjoy!

Joshua

Sponsor: Interested in publishing a book? Call my publishing coach, Patrick Snow, the Publishing Doctor! Start at http://thepublishingdoctor.com and then text Patrick at 206-310-1200 for a complimentary consultation! Sponsor: You Need A Budget! Use the same software that I use to manage my personal budget! http://radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron 

233. Out & About: "Radical Thoughts on Life Insurance" (Joshua's Appearance on Martinis and Your Money with Shannon McLay)
http://radicalpersonalfinance.... download (audio/mpeg, 74.59Mb)

Description:

Shannon McLay from the "Martinis and Your Money" podcast invited me on her show last month to talk about life insurance as part of "Life Insurance Awareness" month.

Enjoy this interview with me where I share all of my advice and thoughts about how to approach the life insurance situation.

The original interview with Shannon appears on her site here: http://financially-blonde.com/radical-thoughts-on-life-insurance/

Joshua



234. 252-Market Yourself with the World's Greatest Marketing Tool: Your Own Book! An Interview with Patrick Snow, the Publishing Doctor
http://radicalpersonalfinance.... download (audio/mpeg, 51.17Mb)

Description:

Have you ever thought about writing a book? If you have, you're part of the 80% of Americans that dream of doing just that!

But how do you go about it? And, perhaps more importantly, why should you consider it?

Today I present to you an interview with my personal publishing coach, Patrick Snow.

Patrick is an international best-selling author, professional speaker, publishing, speaking, and book marketing coach.

He's already been tremendously helpful to me as I work on my first book and I look forward to continuing to work with him!

Enjoy this episode where we talk about the business of writing and why you should write and publish a book.

Enjoy!

Joshua

Patrick's websites: http://patricksnow.com and http://thepublishingdoctor.com Text Patrick at 206-310-1200 for a complimentary, 30- to 60-minute publishing consultation. Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron 

235. 251: Annuities: An Intoduction to the Types and Uses of Annuities
http://radicalpersonalfinance.... download (audio/mpeg, 65.14Mb)

Description:

Let's put our work boots on today and dig into some of the science of financial planning. We've been doing a lot of fluffy, motivational-type stuff on Radical Personal Finance recently. That stuff is really valuable but it needs to be tempered with some serious knowledge.

Today, let's talk about annuities.

Annuities get a bad rap in the financial marketplace. And rightly so. They've been shamefully misrepresented, oversold, and abused by many insurance agents.

But do they have a place? Can they be an incredibly useful tool in the toolbelt of a good financial planner?

I believe so.

In today's show I work to share with you some background and structure about annuities. This will help you to understand the words involved and the different product structures available.

We talk about:

The number of lives covered (single life vs joint life vs joint-and-survivor annuities) When the payments start (immediate vs. deferred) Methods of premium payment (lump sums vs. periodic payments) Pure/straight life vs. refund annuities  Fixed vs. variable vs. indexed annuities And tons more!

Enjoy the show!

Joshua

You Need A Budget! Use the same software that I use: http://radicalpersonalfinance.com/YNAB Need a Financial Advisor? Start here: http://radicalpersonalfinance.com/paladin Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

236. 250-How the Wisdom of Chess Can Make You a Grandmaster of Investing: Interview with Douglas Goldstein, author of Rich as a King
http://radicalpersonalfinance.... download (audio/mpeg, 73.25Mb)

Description:

We've generally been trained how to think about finance by the financial services industry. Their plan for your finances? Well, each step involves a financial product of some sort or another.

But what if we think a little more strategically? Could we get better results?

I think so.

After speaking with today's guest, Doug Goldstein, I think that the metaphor of chess is a good way to train our thinking.

Doug is the co-author of a book titled: Rich as a King: How the Wisdom of Chess Can Make You a Grandmaster of Investing.

Enjoy this interview as we discuss how to approach finances like a chess game!

Joshua

Links:

Doug's book: RichAsAKing.com Doug's financial planning firm: profile-financial.com Doug's radio show (get a free ebook): http://www.goldsteinongelt.com/ You Need A Budget! http://radicalpersonalfinance.com/YNAB Need a Financial Advisor? Start here: http://radicalpersonalfinance.com/paladin Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron 

237. 249-How Dual-Income, High-Earning Couples can Lower Their Income Taxes
http://radicalpersonalfinance.... download (audio/mpeg, 53.54Mb)

Description:

One of the benefits that $200/mo. Patrons of Radical Personal Finance get is being able to choose a topic of the show.

Here's the note that prompted today's episode:

Joshua,

Double income medium- to high-earning couples frequently ask me how to lower their taxes (the second income is at a higher rate of >28%, plus state 3.75% and social security 7.65 or 40% all in).

I don't have a lot to tell them:
-calculate whether it's worth it for second spouse to work ('Money or Your Life' style-after tax/child care/gas income per hour of total time spent at job (commuting and working)
-weigh the qualitative factors
-max 401k
-invest in real estate

I'm assuming I'm missing things. What do you have to say on the subject?

One reason my wife doesn't work is that its not worth it.

Thanks,

Patron

Today's episode includes my response and advice for how couples can approach this conundrum!

Joshua

Need a financial advisor? Start your search here: http://radicalpersonalfinance.com/paladin Do you have a budget? You need one! Try this: http://radicalpersonalfinance.com/YNAB Want to support the show? Go here: http://radicalpersonalfinance.com/patron

238. 248-One Great Way to Start Your Search For a Financial Advisor: Interview with Jack Waymire, Founder of the Paladin Registry
http://radicalpersonalfinance.... download (audio/mpeg, 62.60Mb)

Description:

The most challenging question that I get asked on Radical Personal Finance is this: "Joshua, how do I find a great financial advisor?" 

It's hard because there are great advisors at most (all?) firms and there are terrible advisors at most (all?) firms.

More importantly, there are different advisors for different stages of life and different levels of need.

Unfortunately, all these get lumped together under the term "financial advisor," which is, itself, a non-specific and mostly useless term which could refer to any number of job descriptions.

However, I still try to answer the question. And today, I'm working to answer it with a new sponsor: Paladin Registry. 

This show is an interview with Jack Waymire, the founder of Paladin Registry and it contains an in-depth interview discussing the challenges and process of finding a great financial advisor.

Enjoy the show!

Joshua

Start your search for a financial advisor through Paladin here: http://radicalpersonalfinance.com/paladin Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

239. 247-Friday Q&A: Online Savings Accounts, Commission-Free Life Insurance, Why Don't I Have a CIMA Designation, Would I Do A Daily Podcast Again, Should I Max My 403(b) or Save for a Down Payment, 529 Plan for Myself, and Thoughts on Leveraged Index Funds
http://radicalpersonalfinance.... download (audio/mpeg, 40.88Mb)

Description:

After a way-too-long hiatus, Friday Q&A is back! On today's show, we cover:

Online Savings Accounts Commission-Free Life Insurance Why Don't I Have a CIMA Designation Would I Do A Daily Podcast Again Should I Max My 403(b) or Save for a Down Payment 529 Plan for Myself, and Thoughts on Leveraged Index Funds

Enjoy!

Joshua

If you don't already use the YNAB budgeting software, download a 30-day free trial and try it! I think you'll love it. http://radicalpersonalfinance.com/YNAB If you're not listening to audiobooks, you should be! Get a free audiobook of your choice when you sign up for a trial membership to Audible: http://radicalpersonalfinance.com/audible I strongly recommend "Money: The Unauthorized Biography--From Coinage to Cryptocurrencies" by Felix Martin as your free book. You'll love it! Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

240. 246-You Need a Budget and Here's the Best Way for You to Make One! Interview with Jesse Mecham, Founder of YNAB
http://radicalpersonalfinance.... download (audio/mpeg, 46.84Mb)

Description:

Sometimes you discover something that's been out there for years and you want to smack yourself in the head for not tuning in to it sooner. That's how I feel when it comes to YNAB. (For the uninitiated YNAB stands for You Need A Budget.)

I used YNAB years ago and my response at that time was, "ho-hum." I then proceeded to ignore it for the next 6 years to my own detriment. Bummer. I wish I'd paid more attention!

I was reintroduced to YNAB by my own listeners (the full story is in this episode) and today I'm thrilled to introduce YNAB as a sponsor of Radical Personal Finance!

Check out this interview with Jesse Mecham, the founder of YNAB for an introduction to him, his story, and the YNAB company. It's a super interesting story of entrepreneurship, growth, and the creation of an awesome product which fits a real need that most of us have.

Enjoy!

Joshua

Download a free trial of YNAB! http://radicalpersonalfinance.com/YNAB Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

241. 245-Achieving Financial Freedom With Hard Work and a Good Plan! Interview with Scott Alan Turner, a Financial Rock Star
http://radicalpersonalfinance.... download (audio/mpeg, 21.85Mb)

Description:

I love to talk with people who have achieved financial independence. But I especially love to talk to those financially independent people who have achieved it in a very accessible way!

Frankly, it's hard to relate to a tech titan who sells their latest greatest app company for a billion dollars.

But I can relate to someone who has simply worked hard, saved aggressively, invested conservatively, built an entrepreneurial side hustle and achieved their results over time!

My guest today is Scott Alan Turner and he's done exactly that. Sit back, relax, and enjoy his story! And make sure to take special note of how you can copy and model him and  his success.

Enjoy!

Joshua

Scott's website: http://scottalanturner.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

242. 244-Vending Machines as a Path to Wealth and Passive Income: Interview with Matt Miller from School Spirit Vending
http://radicalpersonalfinance.... download (audio/mpeg, 44.47Mb)

Description:

When I was younger my brothers and I spent lots of time talking about how to make our millions of dollars with passive income. Two businesses seem to be prominent when you go down that line of thinking as a young person: car washes and vending machines.

We didn't pursue either of those businesses. But much later I did wind up working with some clients who had a vending business. And I was intrigued by their business.

My guest today is a vending expert. Matt Miller started his vending business the hard way and built it slowly.

Over time, he wound up finding a new niche for his vending products: stickers.

He's since gone on to create a franchise to teach others how to do what he has done.

Enjoy his wisdom, experience, and insight!

Joshua

Matt's website: http://ssvbusiness.com/radical/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

243. 243-Mastering the Art of Charm so You Can Navigate More Easily Through Life: Interview with Jordan Harbinger, Co-Founder of The Art of Charm
http://radicalpersonalfinance.... download (audio/mpeg, 38.82Mb)

Description:

Interpersonal skills of relationship are a huge deal and your mastery of them will massively impact your level of success in life.

All else being equal, people would rather do business with people they know, like, and trust.

All else NOT being equal, people would STILL rather do business with people they know, like, and trust!

So, this is an area that we should give attention to.

My guest today has devoted years to studying, mastering, and teaching interpersonal skills.

Jordan Harbinger is the co-founder of the highly successful Art of Charm. I caught up with him at Podcast Movement 2015 and invited him on the show to share some lessons with us.

He delivered.

Enjoy the interview!

Joshua

Jordan's website: http://artofcharm.com Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

244. 242-One Bed, One Bank Account: Interview with Derek Olsen from Better Conversations on Money and Marriage with Derek & Carrie Olsen
http://radicalpersonalfinance.... download (audio/mpeg, 56.69Mb)

Description:

Money in marriage is an extremely challenging area of life. Researchers often say that money fights and money problems is the number one cause of marital stress.

My guest today is Derek Olsen. He and his wife Carrie have written a book called "One Bed, One Bank Account: Better Conversations on Marriage and Money."

I was able to catch up with him at Podcast Movement 2015 where we dug into the major questions of how to handle money together.

Make sure to stay tuned at the end of the episode. There's a 30-minute bonus episode on the radical lifestyle that they are living!

Joshua

Links:

Derek and Carrie's website: http://derekandcarrie.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

245. 241-Setting and Achieving Financial Goals: Interview with Casey Lewis
http://radicalpersonalfinance.... download (audio/mpeg, 38.46Mb)

Description:

I had the opportunity to sit down with Casey Lewis while I was in Fort Worth, Texas a couple months ago.

Casey has worked his way through his own money transformation and he has a lot of experience and wisdom to share about the process.

Along the way, we discuss:

Debt freedom Goal setting and goal achievement Personal financial management And more!

Enjoy!

Joshua

Casey's website: http://casey-lewis.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

 



246. 240-From the Mail Room to CEO of a Trading Company: Interview with Don Montanaro, CEO of TradeKing (Live Show from #FinCon15!)
http://radicalpersonalfinance.... download (audio/mpeg, 41.10Mb)

Description:

I'm here at #FinCon15 in Charlotte, NC this week and I had the privelege of interviewing Don Montanaro, the CEO (and co-founder) of TradeKing!

We recorded this episode live on the #FinCon15 podcasting stage on September 18, 2015.

We cover the details of:

Don's career progression from the mail room to CEO What makes a difference in how quickly an employee gets promoted How the securities market works And way more!

Enjoy!

Joshua

TradeKing's website: http://tradeking.com Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

247. 239-Making a Bundle of Cash by Marketing Physical Products: Interview with Andreea Ayers from Launch Grow Joy
http://radicalpersonalfinance.... download (audio/mpeg, 30.03Mb)

Description:

It might seem like the only way to make money in today's world is to create and sell a digital product. It's not. Frankly, the physical product world is probably much less crowded than the digital world!

My guest today is Andreea Ayers. She is awesome.

She created a business that made and sold yoga-themed tshirts. Then, she created a business that sold soaps.

Now, she's taken her success and experience with her own brands and turned it into a consulting business where she helps others to duplicate her success.

It's a super fun interview.

Enjoy!

Joshua

Links:

Andreea's website: http://www.launchgrowjoy.com/ Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

248. 238-What's Different About Giving Financial Advice to Gen X&Y vs Everybody Else: Interview with Katie Brewer, From Your Richest Life
http://radicalpersonalfinance.... download (audio/mpeg, 39.90Mb)

Description:

I love to bring financial advisors onto Radical Personal Finance in order to break down the barriers of communication between advisors and the general public.

Katie Brewer is a financial planner based in Texas. She specializes in working with Gen X and Gen Y clients.

I invited her onto the show to dig into what's different about planning for Gen X and Gen Y clients as compared to the general public.

Also, I grilled her on the reality of what it's like to actually build a financial planning practice from scratch.

Enjoy!

Joshua

Katie's website: http://yourrichestlifeplanning.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

249. 237-Become a Master Marketer: Interview with Anthony Tran, Founder of Marketing Access Pass
http://radicalpersonalfinance.... download (audio/mpeg, 35.24Mb)

Description:

My guest today is Anthony Tran. Anthony is the Founder of Marketing Access Pass, an All-in-One Online Marketing Training and Services website.

He's a master internet marketer and he shares some of his experience with us. Also, he's built a successful lifestyle business for himself in the process!

Enjoy!

Joshua

Anthony's website: http://marketingaccesspass.com/ Anthony's podcast: http://marketingaccesspass.com/podcast-episodes/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

250. 236-Another Financial Advisor Turned Podcaster! Interview With Joe Saul-Sehy from Stacking Benjamins
http://radicalpersonalfinance.... download (audio/mpeg, 41.13Mb)

Description:

I'm not the only former financial advisor who became a podcaster. My friend Joe Saul-Sehy has trod the same path!

We had the opportunity to catch up at the Podcast Movement conference and we were able to talk shop about the financial advisory business.

Enjoy!

Joshua

Stacking Benjamins http://stackingbenjamins.com Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

251. 235-Living a Life of Significance: Interview with Aaron Walker from View From the Top
http://radicalpersonalfinance.... download (audio/mpeg, 38.09Mb)

Description:

I met Aaron Walker at the Podcast Movement Conference in Fort Worth last month. After listening a bit to his story, I immediately invited him onto the show to share some of his experience with us.

Aaron is a serial entrepreneur. He's developed pawn stores, built homes, and run coaching groups.

Interestingly, he's a long-time member of a study group with Dave Ramsey, Ken Abraham, Dan Miller as well as some other notable Nashville businessmen. This leads to some interesting insight into some of those gentlemen!

Enjoy the show!

Joshua

Aaron's special landing page for RPF listeners: http://viewfromthetop.com/radical Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

252. 234-Investing in Rare Coins With Numismatic Value: Interview With Bryan Norris, Professional Numismatist and Coin Expert
http://radicalpersonalfinance.... download (audio/mpeg, 86.26Mb)

Description:

I met Bryan Norris at the Podcast Movement conference in Fort Worth, Texas. I'm glad I did.

Brian is a professional numismatist and a real expert in rare coins and money.

Numismatic coins are an interest of mine and I was thrilled to bring him on the show. We cover:

Numismatic coins vs. bullion coins The history of inflation and hyperinflation as told through money How to get started with coin collecting And a ton more!

Enjoy this one!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

253. 233-I'm Richly Blessed by the Social Economy
http://radicalpersonalfinance.... download (audio/mpeg, 17.87Mb)

Description:

Happy Monday, Radicals! This morning I want to share a few experiences I'm grateful for and use it as an opportunity to encourage you as you begin your week.

I've been tremendously blessed over the past weeks by many friends and family members who have volunteered their time and talents to help me in my time of need.

I'll never be able to repay them. 

And yet, if an opportunity arises, I will work to repay them because I now have social debt. And, I'll be happy to work to repay them.

In today's show I share with you some simple thoughts around the social giving economy and some encouragement for you to focus on being a "Go-Giver" towards others.

It's a character trait that may help you tremendously in your time of need.

Enjoy!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

254. 232-Building a Rich Life By Climbing the Corporate Ladder: Interview with Lee Cockerell, Retired Executive from Walt Disney World Resort
http://radicalpersonalfinance.... download (audio/mpeg, 38.26Mb)

Description:

Climbing the corporate ladder is time-tested and proven path to income and impact. And the cool thing about this approach to career success is that you can begin where you are and simply start working the process.

My guest today did just that. Lee Cockerell started with few advantages. After a stint in the military he took a job as a waiter in a Hilton hotel and went to work. He finished his 41-year corporate career as the Executive Vice President of Operations for Walt Disney World responsible for 40,000 cast members.

After retiring from the corporate world he transitioned to teaching leadership and sharing the principles of success that he has learned with others.

Lee is a dynamic guy and a wealth of information and inspiration.

Enjoy the interview!

Joshua

Lee's website: http://www.leecockerell.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

255. 231-How You Should Respond to the Recent Stock Market Gyrations
http://radicalpersonalfinance.... download (audio/mpeg, 43.46Mb)

Description:

Over the last few days global securities markets have been rocked with massive losses. 

Naturally, times like this should cause us to seriously consider our investment strategy and take a look to see what the appropriate response might be.

Many of us have a significant amount of our life savings invested in public securities markets and it can be frightening to see the impact of the declines in market prices.

But what should we do?

In this episode I share with you some ideas and ways of thinking which you can apply to your situation. Take a few moments to consider the input and assess your personal strategy.

Enjoy!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

256. 230-How Being Debt-Free Enables Entrepreneurship: The Financial Journey of the Podcast Answer Man, Cliff Ravenscraft
http://radicalpersonalfinance.... download (audio/mpeg, 102.21Mb)

Description:

I love hearing entrepreneurship stories because they speak to me of people who clarify what they want and pursue it aggressively. 

Vision is required for you to be willing to leave the bed of employment where things are comfortable and warm and pursue the rocky world of entrepreneurship.

The road isn't easy. But it can be easier if you will build a financial foundation underneath you before you launch.

My guest today is Cliff Ravenscraft, best known as the Podcast Answer Man. Cliff has an amazing entrepreneurial story and today I get to bring it to you in great detail.

Cliff openly shares where and how he started and the steps that he has taken to bring him to his current level of financial success.

Pay attention: he's experienced the joy of living on the $11,000 of profit he earned in his first year (not easy to live on that amount) and the joy of earning over $500,000 gross income last year.

Learn from his story.

Enjoy!

Joshua

Cliff's primary website and podcast: http://podcastanswerman.com/ Cliff's personal audio journal podcast: "Pursuing a Balanced Life" http://gspn.tv/category/all-shows/mcl/ Cliff's free tutorial on how to set up a podcast: http://learnhowtopodcast.com Cliff's in-depth four-week course on podcasting: http://podcastingatoz.com Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

257. 229-Think Slow, Move Fast, and Prioritize Your Life (a.k.a. Why We're Moving!)
http://radicalpersonalfinance.... download (audio/mpeg, 32.44Mb)

Description:

Effective tomorrow, 8/13/15, the global headquarters of Radical Personal Finance will be moving! I'm about to start unplugging my computers and microphone but I wanted to make sure to ship today's show before doing that. 

So, I decided to share with you how I've approcahed this decision to move. I think it will be helpful for you to consider how to Think Slow, Move Fast, and Prioritize Your Life.

Now, time will tell if it worked for me or not!  :)

Joshua

Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

258. 228-How and Why to Buy a Car for Cash: Interview with James Kinson from the Cash Car Convert Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 44.27Mb)

Description:

At the recent Podcast Movement conference in Fort Worth, Texas, I had the opportunity to connect with James Kinson, host of the Cash Car Convert podcast. 

James has a fun story to share and some great lessons to teach. He's a long-time car guy who got the debt-free religion and changed his car-buying habits. To his delight, he's wound up a good deal richer than ever before!

He's got some great lessons to share and in this show we discuss:

The impact a cash car can have on your wealth Leasing vs. buying Whether the advice to buy a good used car still applies in the modern day of higher repair bills.

Enjoy the show!

Joshua

Cash Car Convert: http://cashcarconvert.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

 



259. 227-The Five Benefits of College and Radical Ways to Exploit Them
http://radicalpersonalfinance.... download (audio/mpeg, 49.10Mb)

Description:

As we head into the back-to-school season in the United States, I've been thinking a lot about the value of college and I've come up with a framework that I think will be useful to you.

I see the 5 major benefits of college as these:

Fun Personal Growth Certification Education Connections

It's helpful to identify these benefits. But it's more important to understand how to manipulate the system to maximize your opportunities with each of them.

Once you understand, you can design your own radical path to success.

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

260. 226-Making a Living From Video Games: Interview with Danny Peña, Hall of Fame Podcast Host of Gamertag Radio
http://radicalpersonalfinance.... download (audio/mpeg, 37.26Mb)

Description:

I recently returned from the Podcast Movement Conference in Fort Worth, Texas. While I was there I had the opportunity to interview Danny Peña the day before he was inducted into the Podcasters Hall of Fame.

For the last ten years, Danny has built Gamertag Radio into a major voice of influence in the video game industry. And, he's built a business out of a passion.

Listen to the interview to hear:

How to build a business from a passion How video games can tremendously  The impact of video games on his own life Why Joshua is wrong about video games! :)

Enjoy,

Joshua

Links:

Gamertag Radio http://www.gamertagradio.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

261. Book Review: Eat That Frog! 21 Great Ways to Stop Procrastinating and Get More Done in Less Time" by Brian Tracy
http://radicalpersonalfinance.... download (audio/mpeg, 3.69Mb)

Description:

"Eat That Frog! 21 Great Ways to Stop Procrastinating and Get More Done in Less Time" by Brian Tracy is an absolute goldmine of a book. Without question, this is a 5-star book.

Before you read it though, it's important for you to understand what it is and what it isn't.

It's not a deep-dive treatise of productivity systems; rather, it's an overview of the core principles of productivity that you need in order to organize your life around accomplishing more, meaningful things that will move you toward your goals.

It's short, fast, and pithy.

Tracy begins with the big picture focus of making sure you're doing the right things--planning the things to do that directly tie to your goals and things that are going to have the biggest impact on your achievement of those goals. Then he continues with the practical suggestions to help you actually do those things.

Here's my recommendation: get the audiobook version and listen to it on the first of every month for the next 60 months. 

Even if you did nothing else for your personal development and improvement it would be enough to catapult you into the upper tiers of your company and career. 

Enjoy!

Joshua

Eat that Frog! on Amazon: http://amzn.to/1gSl8Vz Get a free copy of the audiobook on Audible: http://radicalaudiobooks.com

262. Out & About: Pt 2 of Joshua's Interview on "The Voluntary Life" Podcast with Jake Desyllas
http://radicalpersonalfinance.... download (audio/mpeg, 17.91Mb)

Description:

I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Voluntary Life podcast with Jake Desyllas regarding Tax Strategies and Financial Freedom.

This is Part 2 of a 2-part series. The interview was originally released on June 21, 2015.

Enjoy!

Joshua

Jake's site: http://www.thevoluntarylife.com/2015/06/210-tax-strategies-and-financial.html

263. Out & About: Pt 1 of Joshua's Interview on "The Voluntary Life" Podcast with Jake Desyllas
http://radicalpersonalfinance.... download (audio/mpeg, 23.92Mb)

Description:

I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Voluntary Life podcast with Jake Desyllas regarding Tax Strategies and Financial Freedom.

This is Part 1 of a 2-part series. The interview was originally released on July 14, 2015.

Enjoy!

Joshua

Jake's site: http://www.thevoluntarylife.com/2015/06/209-tax-strategies-and-financial.html

264. Announcements: Have Breakfast With Me On Friday in Ft. Worth, TX on Friday, 7/31/2015
http://radicalpersonalfinance.... download (audio/mpeg, 3.12Mb)

Description:

Good morning, Radicals! Two quick announcements for you this morning:

If you are a listener of the show, come have breakfast with me this Friday morning at 7am at the Cast Iron Restaurant at the Omni Hotel in downtown Ft. Worth! I'll be attending the Podcast Movement conference and would love to see you! Please register here: http://bit.ly/RPFatPM15 (If you aren't able to come on Friday but can come on Saturday or Sunday morning, let me know on Twitter and I'll try to be there at 7am for breakfast those days as well. I won't have as much time but I would still like to see you! https://twitter.com/JoshuaSheats There won't be any new shows this week until I return from Texas. I will be releasing an interview I gave recently but I wasn't able to finish producing the other shows I had planned.

Have a great weekend!

Joshua

Register for breakfast: http://bit.ly/RPFatPM15

265. Short Book Review: How To Make People Like You In 90 Seconds Or Less by Nicholas Boothman
http://radicalpersonalfinance.... download (audio/mpeg, 2.62Mb)

Description:

(audio from a video book review)
Nicholas Boothman’s book “How to Make People Like You in 90 Seconds or Less” is a great introduction to the skill of intentionally establishing rapport with new acquaintances. This book is a broad, useful introduction to the topic.

All else being equal, people would rather spend time with, work with, buy from, and help those that they like. The skill of being likeable and helping people to like you is thus a very useful life skill and can be an important component of your success toolbox.

Boothman establishes two beautiful aspects to being likeable:

1. It’s a learned skill. This means that no matter who you are and where you’re starting from, you can improve and develop your skills so that others like you more and more quickly.

2. It’s an honest and ethical practice. Even though the title has the typical “self-help schmarminess,” there is nothing tricky or conniving about the tools and tactics in the book. You would want everyone in your life to understand the concepts of this book and to practice them continually in their relationship with you. Ultimately, likeability largely boils down to active listening and we all crave friends who are careful, active listeners.

This book is not deep. Boothman doesn’t dig into science research or discuss a lot of history. Rather, it’s useful and practical. You can immediately learn and apply the content. I appreciate that!

I listened to the audiobook version and I enjoyed listening to it in the author’s own voice. He does an excellent job conveying the emotion and tone of his work.

However, I purchased the written version so that I would be able to access the outline and notes for reference and so that I could do some of the exercises contained within it.

The book was published in 2000, so there are plenty of used copies available for $0.01. Also, the Kindle version is a downright bargain at $2.51! http://amzn.to/1LW3D2z

Enjoy the book!

Joshua

Get the audiobook version for free! http://radicalaudiobooks.com

266. 225-Rich Habits and Raising Rich Kids-The Daily Success Habits of Wealthy Individuals: Interview With Tom Corley
http://radicalpersonalfinance.... download (audio/mpeg, 62.43Mb)

Description:

I've got a very special interview for you today with Tom Corley. Tom is an accountant and financial planner by trade. He began interviewing his wealthy clients to try to understand what they do differently than other people.

Over time, his research expanded to additional interviews with poor people in an attempt to understand their lifestyles and habits.

This research formed the foundation for his first book, "Rich Habits: The Daily Success Habits of Wealthy Individuals." After a slow start, the book gained traction and attention and he followed it with his next book, "Rich Kids: How to Raise Our Children to be Happy and Successful in Life."

His work is excellent. The books are pithy and worth reading.

But what I found most interesting was Tom's personal story. Through the course of the interview, you'll hear me draw out the parallels between Tom's personal life and his books. I'll also draw out how his life has changed as he began to implement the rich habits that he learned from his wealthy interviewees.

Enjoy!

Joshua

Tom's site: http://richhabits.net/ Rich Habits: The Daily Success Habits of Wealthy Individuals http://amzn.to/1MMl9og Rich Kids: How to Raise Our Children To Be Happy and Successful in Life http://amzn.to/1LHooyH Get a free audiobook copy of "The Richest Man in Babylon" http://radicalaudiobooks.com Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

267. 224-Frugal Tips for Fashionable Financial Independence: Interview with Steve from Steveonomics.com
http://radicalpersonalfinance.... download (audio/mpeg, 35.16Mb)

Description:

My guest today is Steve from Steveonomics.com. Steve is a long-time listener to the show and he and his wife are aggressively pursuing their own plan for financial independence by 40. 

I invited Steve on the show because he is also a lover of fine mens' fashion. He's able to integrate the principles of wise and careful shopping to build a luxurious wardrobe for himself without damaging his prospects for wealth accumulation.

Steve shares:

The story of his $1,000 wedding His tips and strategies for building a functional and fashionable wardrobe When to shop at thrift stores How to apply the Alpha Strategy to a wardrobe

Enjoy the show!

Joshua

Gentleman: A Timeless Guide to Fashion by Bernhard Roetzel http://amzn.to/1MlR8NO Put This On on YouTube https://www.youtube.com/user/pthiso/videos An Affordable Wardrobe blog http://anaffordablewardrobe.blogspot.com/ Articles of Style http://articlesofstyle.com/ See what makes WPEngine different! (My hosting provider of choice.) http://bit.ly/1ejID8e Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

268. 223-1-Year Anniversary Show and Changes to the Show Format Going Forward
http://radicalpersonalfinance.... download (audio/mpeg, 22.80Mb)

Description:

We've hit a huge milestone in Radical Personal Finance history! We've reached 201 patrons and $2,001.50 of monthly support for Radical Personal Finance!

This is super, super thrilling and I thank each and every one of you for your support.

I'm going to be changing the format of the show a bit going forward. I'll be doing fewer long-format shows so that the long-format shows I do release are much deeper and more comprehensive. 

In their place, I'll be releasing more short-format content into the podcast feed including audio from the YouTube channel.

Here's what you can do:

Sign up for the email newsletter so you can stay informed of all of the content that I release. Follow me on Twitter and Periscope: @JoshuaSheats Use the hashtag #AskRPF to ask me questions for my Q&A videos and podcasts.

Enjoy the episode!

Joshua

Support Radical Personal Finance on Patreon: chttp://radicalpersonalfinance.com/patron

269. 222-Why You Should Commit Yourself Wholeheartedly To Getting Out of Debt: Interview With Steve Stewart From MoneyPlan SOS
http://radicalpersonalfinance.... download (audio/mpeg, 50.57Mb)

Description:

My guest today is Steve Stewart. Steve's story to me is very interesting because in many ways he was the archetypal American financial story. A normal guy with a normal financial life.

However, inspired by Dave Ramsey's influence, he decided to get serious about getting out of debt. Tune in to the interview to hear the incredible impact of that decision on his life!

What most intrigues me about Steve's story is how his decisions to get out of debt have had a massive impact on the rest of his life and his ability to pursue entrepreneurship and build a life he loves enough not to retire from.

Enjoy the show!

Joshua

Steve's finance podcast: http://www.moneyplansos.com/ Steve's podcast resource: http://www.yesyoucanpodcasttoo.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

270. 221-How to Budget When You're Behind On Your Bills and Stuck in the Middle of a Financial Emergency
http://radicalpersonalfinance.... download (audio/mpeg, 30.89Mb)

Description:

There are many ways to budget. All of us need to find a solution that is effective for us. And that solution will probably change as our situation changes.

Today, I want to share some advice on budgeting for people who are in a financial emergency. 

Here is a very simple method of budgeting. It requires only:

a checkbook register a notebook and pencil a stack of all your bills a calculator

Details are in the show! 

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

271. 220-The Intersection of Relationships, Health, Energy, and Money: Interview with Joan Sotkin, Author of Build Your Money Muscles
http://radicalpersonalfinance.... download (audio/mpeg, 55.97Mb)

Description:

My guest today is Joan Sotkin. Joan has a fascinating story of avoiding money, then embracing business and earning massively, then losing it all, then rebuilding again.

In today's interview she shares her perspective and insights on:

The meaning of money Rich vs. poor The development of the money coaching industry Life satisfaction

Enjoy the show!

Joshua

Joan's website: http://www.joansotkin.com/ Joan's podcast: http://prosperityplace.com/category/podcast/ Joan's book: Build Your Money Muscles: Nine Simple Exercises For Improving Your Relationship With Money http://amzn.to/1e1ghzn Support Radical Personal Finance on Patreon http://radicalpersonalfinance.com/patron

272. 219-Hacking Audiobooks and the Audiobook Marketplace: Pro Tips for Advanced Learners
http://radicalpersonalfinance.... download (audio/mpeg, 56.10Mb)

Description:

I love audiobooks. I find them to be an incredibly efficient way to learn and an incredibly productive way to use my time.

In today's show I share with you my pro-tips for how to effectively integrate audiobooks into your educational plan.

I also share with you my analysis of the audiobook marketplace and how you can get the best deals for yourself. 

I analyze:

Your library YouTube Overdrive Hoopla AllYouCanBooks.com Downpour Scribd Audiobooks.com Audible

Enjoy!

Joshua

Get a free audiobook! http://audibletrial.com/radicalpersonalfinance Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

273. 218-The Morning Coach's Guide to Success: Interview with JB Glossinger, Host of the Top-Ranked Morning Coach Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 41.66Mb)

Description:

I'm thrilled to share with you an interview with JB Glossinger, the Morning Coach. I met JB at a Podcast South Florida meetup event and immediately invited him on the show.

JB has a really unique background. After building a career in the corporate world and finishing his MBA and PhD he realized that he was in the wrong field to fulfill his personal happiness.

He pivoted and established MorningCoach.com, a top-ranked personal development community. With Morning Coach as his foundational platform, he's gone on to build a tremendous business that provides him with the time and money for his dream lifestyle.

Topics include:

The role and value of education Being yourself vs being what the market says it wants The imipact that one person can have on another

Enjoy!

Joshua

JB's Morning Coach Community: http://www.morningcoach.com/ JB's personal site: http://glossinger.com/ JB's Lifestyle Design Summit: http://www.lifestyledesignsummit.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

274. 217-A Simple Decision Framework: Costs vs Benefits and the Ben Franklin Close
http://radicalpersonalfinance.... download (audio/mpeg, 7.78Mb)

Description:

I used to think that everyone knew how to make decisions. Since starting Radical Personal Finance I've come to learn that some people don't have a clear decision-making framework.

Today, I share with you a dirt-simple framework of costs vs. benefits, plusses and minusses. In sales, it's called the Ben Franklin close.

Use it.

Write it down.

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

275. 216-Pay Attention to Your Little Habits; They Can Make or Break You
http://radicalpersonalfinance.... download (audio/mpeg, 8.78Mb)

Description:

Much of our life is lived on autopilot. We generally handle most things by habit.

One powerful way to improve the likelihood of achieving your goals is to focus on establishing some simple little habits that will automatically help them to happen!

Enjoy.

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

276. 215-Are You Confusing Your Goals With the Means of Their Achievement?
http://radicalpersonalfinance.... download (audio/mpeg, 12.48Mb)

Description:

I spend a lot of time talking to people about their goals. But I notice that many times people confuse their goals and the means to the goals. 

This could be a serious setback to your plans. You might spend years chasing a goal that really isn't the true goal. 

Get clear!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

277. 214-Radical Strategies for Dealing with Student Loans: Interview With Jay Fleischman, Attorney and Host of The Student Loan Show
http://radicalpersonalfinance.... download (audio/mpeg, 71.22Mb)

Description:

Student loans are a way of life for much of the US American population. Often considered to be "good debt" because the college degree can lead to higher earnings, they are, nevertheless, still debt.

And they're debt that must be dealt with!

My guest today is Jay Fleischman. Jay is a bankruptcy attorney who specializes in handling student loan issues. He's a world-class expert in this space.

You're going to love listening to this show. I took pages of notes during our conversation and I recommend you do to.

We cover:

Strategies for dealing with loans that will give you total flexibility with your repayment plans. What to do if you're in default on a loan. Whether it's possible to get out of a student loan with bankruptcy. And more!

Enjoy!

Joshua

Jay's student loan podcast: http://www.studentloanshow.com/ Jay's law firm website: http://www.consumerhelpcentral.com/ If you're interested in refinancing your student loans, use this referral link to support RPF:https://www.sofi.com/refer/4/35193  Check out http://radicalpersonalfinance.com/studentloans for a discussion of refinancing options Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

278. 213-Overcoming Financial Ignorance: Interview with Lauren Bowling from LBee And The Money Tree
http://radicalpersonalfinance.... download (audio/mpeg, 39.89Mb)

Description:

Today I'm pleased to share with you an interview with Lauren Bowling from LBeeAndTheMoneyTree.com!

Lauren has a really interesting story surrounding personal finance: After getting her degree in theater, and racking up thousands of dollars in credit card debt in college, she moved to New York City with $300 in her pocket. While there she landed a sweet job on Wall Street which sparked her interest in personal finance and helped her kick her bad money habits for good.

Three years, three cities, one home purchase, and nearly 2,000 blog posts later, Bowling is an expert at mastering tricky post-college finances. In addition to blogging on L Bee and the Money Tree (LBMT), Bowling is the host of the award-winning internet talk show, Awkward Money Chat. Bowling’s writing has been seen on Business Insider, Forbes.com, Learnvest, Yahoo! Finance, and The Huffington Post. As a source, Lauren’s expertise has also been featured in such notable publications as Redbook Magazine, HGTV Frontdoor.com, and Daily Worth (See here for the full list.)

She spends her free time renovating her first home, enjoying good wine while avoiding the kitchen, and “killing it” at karaoke. She’s even been known to act in a musical or two. By day Bowling works full time in marketing and resides in Atlanta, Georgia.

Enjoy the show!

Joshua

Lauren's website: http://www.lbeeandthemoneytree.com/ If you'd like to attend FinCon and meet Lauren in person, please buy your tickets here: http://radicalpersonalfinance.com/fincon Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

279. 212-We Had a Baby Girl! Comments on Preparing for Child Birth with Mrs. RPF herself!
http://radicalpersonalfinance.... download (audio/mpeg, 32.26Mb)

Description:

Hey Radicals!

Just a quick announcement show for you--our little baby girl was born early Friday morning. Baby and momma are both doing great and we are enjoying transitioning to our larger family!

We're super thankful and beyond excited that she is here.

I also thought it would be fun to invite my wife to chat a little bit about her childbirth experience. This isn't related to personal finance--it's just related to the RPF life!

If you'd like to hear some of her comments on how we prepared for childbirth, check out the show!

Rejoice with us!

Joshua & Tiffany

p.s., if you'd like to see pictures, please feel free to connect with me on Facebook: https://www.facebook.com/joshuasheats



280. 211-How to Effectively Use New Media To Promote Your Financial Planning Practice (Or Any Type of Business): Interview With Bill Winterberg from www.FPPad.com
http://radicalpersonalfinance.... download (audio/mpeg, 37.74Mb)

Description:

One of the most fundamental transformations of our modern time is taking place in the field of communication. Although it might feel like we're far into this change, we're really not. It's only just begun

One of the most important effects of this change is that very small businesses--like financial advisors--can effectively market to the broader market at a very low cost.

My guest today is an expert in this field.

Bill Winterberg is the founder of FPPad.com. Bill founded FPPad in 2008 to be a leading source of news, insight, and thought leadership in financial planning technology.

Bill has successfully leveraged his experience in the financial industry and his applied knowledge in medial creation to build a neat consulting and speaking business for himself.

Pay special attention to the content of this interview if you're involved in the financial services industry. But also pay careful attention to this interview if you are involved in any business or industry! These trends are affecting you.

Enjoy!

Joshua

Links:

Bill's website: http://fppad.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

 

 



281. 210-An Intelligent Person's Guide to Self-Education
http://radicalpersonalfinance.... download (audio/mpeg, 76.60Mb)

Description:

Our value and contribution in this world will be directly impacted by the level of our education. It's impossible to create more value without more education.

(Yes, there are many kinds of education. I'm using the word inclusively.)

But, under what system and whose goals have we been educated?

Unfortunately, many of us have been educated under a system that promotes someone else's goals over our own. Too few of us know how to sit down and design an educational path that will take us closer to our goals.

In today's show, I share with you a number of important ideas including:

The centrality of your goals in an educational plan. The connection between goals, study, and action. The costs of education in both money and time. The continuum of education from personal to impersonal and from sychronous to asynchronous. Benefits and drawbacks of different ways of acquiring education. About somoene has written 16.8 books per year over the course of a 60-year career!

Enjoy the show!

Joshua

If you enjoy today's show, please:

Share the show with a friend. Leave a review and rating in the podcast directory where you find the show. Support the show on Patreon: http://radicalpersonalfinance.com/patron

 



282. 209-The Insider Secrets of Angel Investing! (Or What Angel Investing is Really Like): Interview with Doug Nordman (And, Should I Rent or Buy?)
http://radicalpersonalfinance.... download (audio/mpeg, 66.75Mb)

Description:

Today, I welcome Doug Nordman back to the show! Doug is an early retiree (he retired at 41) and his hobby is helping other military personnel improve their financial lives.

One of the more interesting aspects of Doug's financial life is his involvement in private business as an angel investor. He's not only involved with the community of investors near him in Hawaii, he's also committed a substantial amount of his savings toward his investments.

In this interview you'll learn:

Why Doug invests his money in private companies even though the majority of his investments are held in mutual funds. How much money he has made and how many of his investments have gone bust! How to get involved as an angel investor yourself!

You'll also learn how to make the decision of rent vs. buy when considering where to live.

Enjoy!

Joshua

Links:

Doug's finance website: http://the-military-guide.com/ Doug's book recommendations: The Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By by Scott Shane Angel Investing: Matching Startup Funds with Startup Companies--The Guide for Entrepreneurs and Individual Investors by Robert Robinson and Mark Van Osnabrugge Fool's Gold?: The Truth Behind Angel Investing in America by Scott Shane Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron Support Radical Personal Finance by using our Amazon affiliate link: http://radicalpersonalfinance.com/amazon

283. 208-Three Ways To Increase Your Income At Your Job
http://radicalpersonalfinance.... download (audio/mpeg, 43.59Mb)

Description:

Many people would like to earn more money. But, few people know how to actually look at their situation to assess their opportunities to actually do so.

In today's show I share with you the framework that I use to think about money. It's simple but effective.

And, most importantly, it's exclusively focused on the things you can actually do and change. It's practical and immediately actionable.

Listen to the show to hear:

The only three variables that affect how much money you earn in a free market economy. Which variables have the most impact in the short term and which have the most impact in the long term. How to assess your personal situation to decide where to focus your efforts.

Enjoy!

Joshua

Links:

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron Consider attending FinCon15! Buy your tickets here! http://radicalpersonalfinance.com/fincon

284. 207-Joshua's 30th Birthday Message To You (via the Voice of Jim Rohn!)
http://radicalpersonalfinance.... download (audio/mpeg, 11.40Mb)

Description:

Hey amigos!

Today is my 30th birthday! I'm having an incredible day celebrating with my family and friends.

30 is a big milestone for me. I've been reflecting deeply on the last decade and looking forward to the next decade.

I thought about creating a "30 Lessons Learned from 30 Years of Living" for you, but I decided to simply share one of my favorite messages with you instead.

This audio is a short clip from a Jim Rohn speech. I keep it on my desktop and listen to it at least a couple of times per week.

This is the succinct message that I would like to share with you to celebrate my birthday.

I hope you enjoy it as much as I do.

Talk soon,

Joshua

Support Radical Personal Finance on Patreon: http://patreon.com/radicalpersonalfinance

285. 206-A Few Quick Announcements and a Quick Summer Break for the Show!
http://radicalpersonalfinance.... download (audio/mpeg, 7.34Mb)

Description:

Hey Radicals!

Just a quick announcement episode to share that the show will be taking a quick summer break for a few days. I have some show-related work to handle and I can't get it done and still continue producing content this week.

Also, please expect the shows to be slighly more sporadic during the month of June...details in the audio!

Joshua

Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron Get your tickets for FinCon15 with my affiliate link here: http://radicalpersonalfinance.com/fincon Details on the FinCon Expro are here: http://finconexpo.com/

286. 205-Friday Q&A: Are the Advertisements Re: the Value Of Tax Loss Harvesting a Scam, Hacking the Child Labor Laws, What's the True Purpose of the Accredited Investor Rules, and Is My 401(k) The Best Way to Build Massive Wealth?
http://radicalpersonalfinance.... download (audio/mpeg, 69.28Mb)

Description:

Q&A today and I handle these four questions!

Does tax-loss harvesting really offer the kind of benefit that companies like Wealthfront, Betterment, Personal Capital, et al claim? And can a person do it on their own without relying on a firm to do it for them? Thought you should know something I recently found out. California child labor laws no longer apply once you have graduated from high school.  In addition, California has a method to graduate by exam (similar to a GED, but GEDs are only available to those 18 or older).  The high school proficiency exam (which is easy) can be taken by anyone who is 16 or older or who has completed 10th grade or will have completed 10th grade by the end of the academic year in which they take the test. My son, who is 15 1/2 and in 10th grade, took the exam and passed it. Nothing prevents him from continuing on in high school, but he's no longer subject to child labor laws. He's seriously considering switching to community college in September, doing that for 2 years, and then transferring to a University of California campus to finish off his college.  That'd get him a solid college degree by the time he's 19. During that entire time, he'd be eligible to work whatever hours he wants. Another option we're considering is self-study (with my help; I used to be a Computer Science professor), taking a bunch of AP exams, and then entering UC at age 18 with at least one year (and possibly more) of credits.  Joshua, Can you weigh in on your thought about being an accredited investor and the legal limitations around it?  As I understand it, I do not qualify as an accredited investor.  And certain investments cannot be invested in by those who are not accredited.  however, apparently the rules were supposed to have changed to allow people to make investments of these kinds without the government saying that I have to make X amount or have X amounts of savings.  but, as I learned by listening to the podcast Startup (episode 7) by alex blumberg, these rules have changed with the JOBS ACT, but the FCC has been sitting on the ruling and is way overdue for implementing it so that someone like me can invest in these previously off limits investments without being told that we can't.  That episode of startup really explained a lot to me, because I had wanted to invest a large amount with alex after listening to the very first episode of startup (i assumed he would be very successful because I've loved his stuff for years and he's leveraging some seriously big friends for his new venture), but I couldn't invest in something I really thought was going to be a huge success (or at least provide me with good cashflow) because of these rules.  I'm also about curious why these rules exist.  Were they implimented to protect people from being scammed out of their  money? Joshua, As a young engineer, who is single, making a salary of over $80,000 in Texas (no state income tax): Should I max out my 401k if my goal is to become very wealthy, before age 40? Or, should I invest some in my 401k and invest the rest in REITs/other, more risky assets. Of course, along the way, I will be very frugal, and live way below my means. Thank you, love the show. 

Enjoy the show!

Joshua

 Evaluating The Tax Deferral And Tax Bracket Arbitrage Benefits Of Tax Loss Harvesting by Michael Kitces: https://www.kitces.com/blog/evaluating-the-tax-deferral-and-tax-bracket-arbitrage-benefits-of-tax-loss-harvesting/ Wealthfront Tax-Loss Harvesting White Paper: https://research.wealthfront.com/whitepapers/tax-loss-harvesting/#14-comparison_of_daily_vs_one_time_i_e_end_of_year_tax_loss_har vesting Betterment's White Paper: Tax Loss Harvesting+™: https://www.betterment.com/resources/research/tax-loss-harvesting-white-paper/ The Tax Harvesting Mirage by Michael Edesess: http://www.advisorperspectives.com/newsletters14/The_Tax_Harvesting_Mirage.php The Tax Harvesting Oasis: A Response to Michael Edesess by Daniel Egan and Boris Khentov: http://www.advisorperspectives.com/newsletters14/The_Tax_Harvesting_Oasis.php The Tax Harvesting Water Hole by Michael Edesess: http://www.advisorperspectives.com/newsletters14/The_Tax_Harvesting_Water_Hole.php Accredited Investor: http://en.wikipedia.org/wiki/Accredited_investor Fixed Fortunes Article: http://sunlightfoundation.com/blog/2014/11/17/fixed-fortunes-biggest-corporate-political-interests-spend-billions-get-trillions/ Why the "Accredited Investor" Standard Fails the Average Investor: http://www.bu.edu/rbfl/files/2013/09/AccreditedInvestorStandardFails.pdf Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

287. 204-A Behind-the-Scenes Look Into High-Risk Life Insurance Underwriting: Interview with Todd Simpson CLU, ChFC from The Stamm Agency
http://radicalpersonalfinance.... download (audio/mpeg, 63.73Mb)

Description:

One of my goals for Radical Personal Finance is to bring more transparency to the world of professional finance. Today, I'm glad to shine the light on the life insurance industry.

I've invited a friend of mine onto the show to discuss his 30-year career as a life insurance broker.

Todd Simpson CLU®, ChFC® is a veteran of the life insurance business. His specialty is high-risk underwriting, so he brings not only a long career's worth of experience but also a unique perspective to the difficult-to-place cases.

I think you'll really enjoy this conversation. We cover:

The incredible changes that have occurred in life insurance product design over the last 30 years. The most common medical problems that cause problems with life insurance underwriting. The impact of drugs and drug use on your ability to get a life insurance policy. And more!

Enjoy the show,

Joshua

Todd's firm and website: http://www.thestammagency.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

288. 203-Ideas to Help in Caring for Your Older Parents' Financial Well-Being
http://radicalpersonalfinance.... download (audio/mpeg, 62.54Mb)

Description:

Many of find ourselves in a situation where we are concerned about the financial well-being of our parents. Obviously, we'd like to help, if possible.

But, this is rarely easy. There are many, many challenges that can emerge. In essence, to truly answer these questions you'd not only have to have all of the skills of a financial planner, but also the background of a relationship counselor, a life coach, and more!

It ain't easy!

I created this show as an overview of ideas that may be able to help you get involved and to help your parents. Some of the ideas are technical financial suggestions, others are more practical and relationship-oriented.

The show is structured around:

Ideas to help create a great life of good health. Ideas to help in case of the need for long-term care. Ideas to help plan your parents' estate to make the estate settlement process smoother.

I hope it's useful to you!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

289. 202-"Get Yourself a 30-Footer and Go!" How To Build a Lifestyle of Freedom Through Sailing, Self-Publishing, and TEOTWAWKI Escape Plans: Interview with Matthew Bracken, Author of "Enemies Foreign and Domestic
http://radicalpersonalfinance.... download (audio/mpeg, 70.78Mb)

Description:

My guest today is a author named Matthew Bracken. Matthew is a sailor, writer, and former Navy Seal. He's the author of four novels (all of which I've thoroughly enjoyed.)

Most importantly for our purposes, he is an expert on the topic of achieving a lifestyle of freedom through sailing.

He wrote an excellent essay called "Get Yourself a 30-Footer and Go!" which advocates a quick entry into the sailing world as a way to build economic opportunity for yourself.

During the course of the interview, we cover three primary topics:

How to go about getting started in sailing and how quickly it's possible to achieve a lifestyle of freedom. Matt's experience establishing himself as an independent, self-published novelist in the semi-dystopian genre. The potential impact of societal changes and how to prepare for them.

Enjoy the show!

Joshua

Links:

Get Yourself a 30-Footer and Go! http://www.freerepublic.com/focus/f-bloggers/3095240/posts Information about Matt's novels: http://www.enemiesforeignanddomestic.com/index.php?page=books Huge Excerpts (free) from Matt's novels: http://www.enemiesforeignanddomestic.com/index.php?page=excerpts The Last Valley on YouTube: https://youtu.be/-dItSpmQtlE Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

290. 201-Friday Q&A: My Parents Just Bought an Annuity...How Do I Help and How To Invest An Extra $20,000
http://radicalpersonalfinance.... download (audio/mpeg, 55.41Mb)

Description:

Q&A show today and I answer these two questions for you:

Joshua, My parents just moved to Florida last year and got wooed by an advisor that bought them dinner, gave them a free round of golf, etc. and now they're in an annuity and I can't figure out how badly they are getting screwed (not because there's anything inherently wrong with annuities but because the advisor is sadly not a fee-only advisor so I imagine he's taking a big cut of the action). I'm trying to convince them to find a good fee-only advisor to help them get set up for retirement but I'm not sure how to go about finding a good one. Thanks for the help! Joshua, I can't thank you enough for starting Radical Personal Finance; been a fan since you did the interview with Jacob Fisker :) I have learnt so much from you and others in the personal finance community - I'm unable to quantify with an exact figure yet, but I know it's going to compound to a huge amount (possibly millions?) over my lifetime. This morning I just signed up via Patreon to support your show. It's a small amount, but one important thing I've learnt on my PF journey is learning to pay for value rather than simply focusing on cost. I have a question which relates to the investment part of building wealth. How should I invest an idle USD$20,000 that's sitting around in my savings account for maximum returns? I feel I'm sufficiently exposed to the stock market at this stage and diversified enough within and outside the publicly traded securities realm. I don't want to pour money into publicly traded stocks as due to mean reversion, future returns tend to be lower when markets are at highs. Please feel free to suggest the most radical ideas you have - that's why I love the show! Some background on myself: I'm 28 years old living in Singapore. My marginal tax rate is 7% but we are forced to contribute 20% to our own tax-free housing/medical/retirement accounts. Annual take home salary (post taxes and retirement etc contributions) is about USD$50,000. Invested USD$60,000 in semi diversified stocks, ETFs and REITs. USD$20,000 in alternative non-publicly traded investments. Have 6 months emergency fund. Have a 30 year level term insurance for USD $400,000. Time horizon: >20 years. I consider myself an aggressive investor willing to take large risk on small sums of money for the potential return, if the mathematics are in my favor (eg NO lotteries, YES to EM stocks). I know it's hard to provide investment suggestions without knowing the nuances of each individual situation. Right off the bat I know I should be focusing on: increasing my salary/earning potential and starting a side business. Should I be getting more insurance coverage? Should I be maxing out retirement accounts when my marginal tax rate is only 7%? Is there anything else I'm missing? As a goal oriented person (and my goal is to reach FI fast!), I can't stand the fact that my money is idling in my savings account earning a negative real rate of return. Keep doing great work!

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

291. 200-My Podcasting Equipment, Workflow, and Lessons Learned From 200 Episodes
http://radicalpersonalfinance.... download (audio/mpeg, 53.09Mb)

Description:

From time to time, I receive questions from listeners about the equipment that I use to produce my show. I also get questions about the mistakes I've made and what I would do differently if I were to do it over again.

Today, I share the workflow that I use to create my show and some of the lessons I've learned in 200 episodes of podcasting.

This show does not contain any specific financial planning or personal finance content. It does include a discussion of my thought process in creating the show and how I selected my Unique Selling Proposition for the show.

Resources mentioned:

I use a Heil PR-40 Dynamic microphone. If I were to do it over again, I would simply use an Audio-Technica ATR2100 Dynamic microphone. I use a Behringer mixer and a Roland R-05 audio recorder. If I were to do it over again, I would buy the Zoom H6 audio recorder. I also have two Shure SM7B Dynamic microphones for my mobile interview kit. Cliff Ravenscraft's podcast workflow.

Enjoy the show!

Joshua

Support Radical Personal Finance on Patren! http://radicalpersonalfinance.com/patron

292. 199-Whole Life Insurance
http://radicalpersonalfinance.... download (audio/mpeg, 65.37Mb)

Description:

Today, we continue the life insurance series with the valuable background of whole life insurance. Exciting stuff!

This show is an introduction to the various product features and design ideas. We cover:

Ordinary life insurance Limited pay life insurance Cash values Policy loans Nonforfeiture or Surrender Options: Surrender for cash value Reduced amount of paid-up whole life Paid-up term Annuity or retirement income Policy conversion Participating versus nonparticipating policies Policy dividend options Cash Applied to premium Used to purchase more insurance (fully paid up) Left with insurer to earn interest Used to purchase more insurance (term) To overpay premiums until policy is fully paid up

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

 

 



293. 198-What Would I Do If I Won the Lottery?
http://radicalpersonalfinance.... download (audio/mpeg, 119.35Mb)

Description:

I received a question from a listner which I decided to answer for you on today's show:

Joshua: So, this is a "fun question" that everyone loves to fantasize about. I hope it will be fun for you to answer, but it could have a really boring answer, but I'm sure you'll surprise me somehow!  What would you do if you won the lottery? As a financial planner, what advice would you give to a client who had won the lottery? What would the most optimal tax strategy be? Do you take the payments or the lump sum? Would the up-front tax hit be worth it for the long term capital gains? -Micah

So, today I tackled the question! Be prepared...my answer is a bit different from many people's answers to this question.

I do share very specifically with you what I would do. I share what I would buy and what I would invest in. But, I felt it was important to go ahead and address a few of the reasons why I feel the way I do.

This show is very personal to me and it involves a lot of how I see the world. I hope you enjoy it!

The show is divided into three parts. Feel free to pick and choose if you want to, but give it a shot listening straight through:

The first 47 minutes of the show are about lotteries in general and why I'm not a fan. Starting at 47:00, I share the underpinnings of my worldview and the framework for how and why I handle money. At 1:41:00 I share specifically what I would buy and what I would invest in.

Enjoy!

Joshua

End the Government's Lottery Monopoly - Daily Beast History of Gambling in the United States 2,350 Bible Verses on Money Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

294. 197-How Big of an Emergency Fund Should I Have? What Percentage of My Income Should I Owe In Debt Payments?
http://radicalpersonalfinance.... download (audio/mpeg, 15.50Mb)

Description:

Today, I have a tightly focused show for you with a few key points from the CFP® Board curriculum. You will need this information on the CFP® Board exam and it will be useful for you as an individual.

First, I share with you how to choose between needing a 3-month emergency fund and a 6-month emergency fund.

Next, I share with you the manageable percentages of your income which you can allocate to debt payments.

Enjoy!

Joshua

Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

295. 196-Friday Q&A: Other Student Loan Ideas, Helping Kids Without Enabling Them, Consolidating Accounts, Maxing Out a Spousal IRA, Retirement Distribution Strategies, and Help With Goal Planning
http://radicalpersonalfinance.... download (audio/mpeg, 63.64Mb)

Description:

Today, I'm cleaning out the voicemail inbox for my Friday Q&A show. Here are the questions for today:

What strategies for student loan payoff did I forget last week? How do we help our young kids without enabling them? Thoughts on consolidating retirement accounts. What are the limits on retirement accounts for a stay-at-home spouse? Thoughts on various retirement income distribution strategies. Do I have additional services and options to help with coaching individual people?

Enjoy!

Joshua

Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

296. 195-Double (At Least) Your MPGs: 109 Hypermiling Tips from Ecomodder.com
http://radicalpersonalfinance.... download (audio/mpeg, 48.00Mb)

Description:

How much do you spend each year on fuel costs for your car? What is your current mileage per gallon?

Before you rush out and buy a new hybrid to save money on gas, consider improving your driving techniques. It doesn't cost you anything except attention and focus and it can make a substantial difference.

As an example, check out this guy who got his 3/4 ton pickup truck from an EPA estimate of 15 mpg to almost 60 mpg!

In today's show I feature 109 tips for more efficient driving. These tips come from the good folks at the Ecomodder forum.

Listen to (or read) the list, choose a couple of techniques and start practicing! Enjoy the savings and put the money to work elsewhere in your life!

Joshua

Almost 60 MPG on a Diesel Pickup! "2,009.6 mi on one 35 gal tank ('07 Dodge Ram 2500 quad" cab) http://ecomodder.com/forum/showthread.php/double-kilotank-2-009-6-mi-one-35-a-26259.html 109 hypermiling / ecodriving tips http://ecomodder.com/forum/EM-hypermiling-driving-tips-ecodriving.php 68 vehicle mods for better fuel economy ... http://ecomodder.com/forum/fuel-economy-mpg-modifications.php Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

297. 194-You Just Got Laid Off. Here's What To Do Next!
http://radicalpersonalfinance.... download (audio/mpeg, 51.95Mb)

Description:

Today, we finish out the 3-part series on preparing for layoffs in the coming recession.

Today's show will be useful to you, even if you just got notice of your layoff and didn't do anything to prepare for it beforehand.

The major theme of today's show is that you need to take appropriate action with appropriate speed. If you're stuck with little savings and no preparation, that means take massive action, now! If you've planned a bit better in advance, it means be strategic and thoughtful.

We discuss:

The impact of self-confidence on your job hunt. The importance of having work now and not being unemployed for a long time. How to take massive action on your job hunt for quicker results. What types of approaches are most successful for job hunters. Some radical strategies you can plan for that will enable you to simply wait out and enjoy the recession instead of being stressed by it!

Enjoy!

Joshua

Many If Not Most Employers Hunt for Job-Hunters in the Exact Opposite Way from How Most Job-Hunters Hunt for Them http://www.jobhuntersbible.com/jobs/view/what-to-beware-of-in-searching-for-job-vacan-2 Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

298. 193-Make a Backup Plan In Case You Get Laid Off In The Coming Recession: Simple Action Steps For You To Consider
http://radicalpersonalfinance.... download (audio/mpeg, 55.26Mb)

Description:

Yesterday, we talked about ways to avoid losing your job in the coming recession. But obviously there are factors beyond your control which might result in your being laid off, even though you've done everything "right."

So, you need a backup plan.

Don't wait and wonder what you'll do. Make a simple plan now for what you'll do.

Think about some different scenarios and play some mental games with yourself. That way, you'll be able to better respond to events instead of being shell-shocked by them.

Today's show covers:

The importance of planning to avoid emotional stress when you get laid off. The direct impact of losing your income and how to plan for it. The impact that losing your group benefits can have on your financial life. Why you should consider establishing lines of credit before you need them. How you can stockpile both money and the simple necessities of life. The simple things you can do that will make it much easier to get your next job. The importance of proactively building and maintaining a network. How thinking like a consultant will help you now and help you later.

Enjoy!

Joshua

The Queen of Versailles Living On Our Food Storage: One Family's Experience Of Living Without Income For A Year Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

 



299. 192-Recession is Coming: How to Not Get Laid Off In the Next Recession
http://radicalpersonalfinance.... download (audio/mpeg, 48.08Mb)

Description:

For most of us, our jobs are the economic engine that drive every aspect of our financial plan. One of the worst things that can happen is to lose a job.

If the engine on your car dies, you're going to be stuck by the side of the road for a while. That's not pleasant for anyone, even if you're stuck in a safe area. But, if you're driving up a mountain (paying off debt and digging yourself out of a hole), having your engine die can be disastrous. And, if you have a destination in mind (financial independence), losing the engine in your car will at least delay you from reaching your destination.

So, the key is plan in advance to not lose the engine. Make sure you're doing the things you need to be doing now to avoid being laid off.

Obviously, you can't guarantee that you'll never be laid off, but you can do a lot to improve your possibilities!

On today's show, we cover:

The need to proactively improve your position within your company, your company's position within the industry, and your industry's overall prospects in advance. Some ways to know if you've got a big target on your back or a small target on your back with the HR people are figuring out who to cut. The importance of competing with your fellow employees and of collaborating and cooperating with them and why both are valuable. Ways to stand out and produce up to 4x the output of your fellow employees.

Enjoy the show!

Joshua

Business Insider: 13 Things Everyone Does At Work That They Don't Want Bosses To Know About Federal Reserve: Average Annual Hours Worked by Persons Engaged for United States Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

300. 191-Friday Q&A: Invest or Pay Off Debt, Rent or Buy Calculations, Double Tax Credit for Multiple 529 Accounts, Roth Conversion or Not
http://radicalpersonalfinance.... download (audio/mpeg, 50.40Mb)

Description:

Today, I handle these four questions:

3:02 Joshua, I just started listening to your show and I've learned a lot already. I originally started listening because I have an interest in one day becoming a personal finance consultant, but that's a long way off, for now I just need help with a crazy student loan issue! I am currently paying almost $600 a month for a $102k student loan at 7%, couple of key things, credit is shot due to bk filed last year, the loan is with the nelnet through dept of Ed, the question is should I pay down the loan, or find an investment that will pay me $600 to offset payment? Right now the $600 is preventing me from moving forward on anything financial, I'm expecting a lump some of money in February, like $60k, I would love to invest it where I can earn $600 or more a month to offset the payment! Any ideas? 28:56 Joshua, I recently stumbled upon your podcast and just started listening to it from the very beginning. Your approach to each podcast has been a from a very practical point of view which I really appreciate and hence enjoy listening to it! Please keep up the great work! At the time of writing this, I just finished with the episode "rfp-0009 - Why is your house a terrible investment." I myself am in the stage of having signed a contract on a home and waiting for closing date. All through the show James and yourself have made many, many valid points. I myself have already tracked down my cost (also factoring in an average monthly maintenance expense) to owning a home in an excel spreadsheet and even-though most often than not, one usually tends to buy a home which is slightly bigger in area that the what one was renting (same with me), the numbers for buying a home vs renting still look better (to me) in the long run. I live in the slightly expensive Northern VA area. I have been renting for the last 7.5 years (in various capacities from being a full-time student to full-time employee to full-time employee + part-time student) and can definitely say that annual rent increase adds up over each year. In order to keep the rents at a reasonable rates you will have to move every 2 or 3 years. This would add moving expenses, cleaning expenses, security deposits and a peace-less mind to your rent calculations. But this has not been factored into the James' calculations. Yes, when you own a home your property taxes may also go up as the home appreciates, but this won't be as much as how much the rent would increase year-in year-out. Also your home may or may not appreciate every year for this to happen. Would like to know what your comments are to this. 36:09 Joshua, I have a 1 year old son and am married.  My wife is in school earning her PhD.  Can my wife and I create two separate 529 plans to double our tax benefits (one in my son's name and one for my wife)?  Indiana's benefit is 20% tax credit ($1000 max credit).  If not should we create a 529 anyway?  We have the money to pay for her $30,000 education already saved to be spread over the next 3 years.  Thoughts? 40:06 Joshua, My parents just recently started working with a fee-only financial adviser after their recent retirement. She has been doing a nice job with them so far helping them come up with their financial goals, seeing if they are able to achieve them with their current assets, and choosing the most appropriate Social Security choice for their needs and goals. I have been attending the meetings with them. Either in the next meeting or the meeting after, the question of converting their traditional IRA to a Roth IRA will come up. Other than their paid-off house, most of their portfolio is in traditional IRAs. She is of the belief that it doesn't make sense to convert any of the traditional IRA to Roth because they don't have the taxable funds to pay the necessary taxes. I'm of the opinion that since the income they currently receive from their IRAs is well under the $74,900 limit (filing jointly) keeping them in the 25% bracket, that they should convert some of it and pay the 25% tax rate before they have to start taking much larger RMDs in the future at higher tax rates. Of course that also ignores future potential tax hikes. They understand the benefits of having some flexibility for the future as well as the benefits of passing a Roth to me and my sister on their deaths (another one of their goals). The question I have is: What are the appropriate questions to ask the financial advisor as to how to look into whether converting makes sense outside of the generalities that you shouldn't because you don't have taxable funds? How do you 'run the numbers' so to speak to determine if converting is in their best interest? And also, how do you come up with that sweet spot amount in order to stay inside the 25% tax bracket and not pay taxes outside that bracket? Is that a question for a tax accountant or should a financial adviser be able to answer that question as well? Thanks for all you do.

Enjoy the show!

Joshua

How to Evaluate Your Client's Current and Future Marginal Tax Rate Roth vs Traditional IRA: The Four Factors That Determine Which Is Best When A Roth IRA May Actually Be A Terrible Asset To Inherit How IRA Withdrawals In The Crossover Zone Can Trigger The 3.8% Medicare Surtax Why A Roth Conversion May Be A Bad Idea Even If Taxes Are Higher In The Future End Of Year Roth Conversions And Capital Gains Harvesting – Paying Taxes To Save Taxes To Roth or Not To Roth

301. 190-Learning To Trade Stocks: Interview With Steve Burns, Founder of New Trader University
http://radicalpersonalfinance.... download (audio/mpeg, 49.48Mb)

Description:

Today we dig into the topic of trading stocks. And who better to speak with than the guy who started a "university" to teach the subject?

My guest today is Steve Burns, founder of www.NewTraderU.com

Here's some background about Steve, directly from his About page

"After a lifelong fascination with financial markets, Steve Burns started investing in 1993, and trading his own accounts in 1995. It was love at first trade. A natural teacher with a unique ability to cut through the bull and make complex ideas simple, Steve took to blogging and social media by founding New Trader U in 2011.

"Since then, New Trader U has attracted hundreds of thousands of visits a month, becoming the go-to resource for people wanting to build a strong, trading foundation. New Trader U offers an extensive blog resource with more than 1,000 original articles (Steve posts daily).

"Asked daily if he could mentor, Steve realized that there weren’t enough hours in the day to give everyone the attention they deserved, so New Trader 101 was born. Developed to help beginning traders survive their first year in the markets, New Trader 101 quickly became Steve’s passion."

The interview covers:

Steve's personal story as it relates to financial independence His suggestions for individual investors to protect their portfolios Learning to manage the psychology of investing Teaching kids the skills of investing

Enjoy the show!

Joshua

Steve's website and blog, New Trader University and his course "New Trader 101." Support Radical Personal Finance: http://radicalpersonalfinance.com/patron

302. 189-Term Life Insurance
http://radicalpersonalfinance.... download (audio/mpeg, 76.00Mb)

Description:

Today we continue our life insurance series dig into the topic of term life insurance.

Term life insurance is an incredible financial product and extremely useful. It also has some options that are not commonly understood or explored.

We discuss:

What is term life insurance useful for? Normal life insurance policy designs: level term insurance annual renewable term insurance decreasing term insurance increasing term insurance Key policy features: renewability convertibility disability waiver of premium reentry term insurance return of premium rider Group term insurance How to analyze costs What about those who say term insurance is the only appropriate solution? How to find a policy How to get insurance with a medical condition

Enjoy!

Joshua

If you'd like access to the spreadsheet with return of premium rate of return calculations and the annual renewable term vs. level term discussion, support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

303. Out & About: Joshua's Interview on the "Work Strong America" Podcast with Rick Seigmund
http://radicalpersonalfinance.... download (audio/mpeg, 38.73Mb)

Description:

I'm not able to record and release a show for you today so I'm releasing an interview that I gave on the Work Strong America podcast with Rick Seigmund.

This interview was originally released on Rick's show on February 4, 2015.

Enjoy the show!

Joshua

Links:

Rick's Work Strong America site: http://workstrongamerica.com The original post of this interview on Rick's site: http://workstrongamerica.com/wsa-episode-005-joshua-sheats-interview/ Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

304. 188-Avoiding the Sunk Cost Fallacy by Applying Zero-Based Thinking
http://radicalpersonalfinance.... download (audio/mpeg, 32.18Mb)

Description:

Years ago, I learned an extremely valuable thinking process from Brian Tracy called Zero-Based Thinking. Today, I share it with you.

Here's the question: Is there anything in your life that, knowning what you now know, you wouldn't get into again today if you had to do it over?

If the answer is yes, then you follow up with these questions: How do I get out? How fast do I get out?

By consistently applying this question to every area of our lives, we can avoid much of the impact of the sunk cost fallacy. As humans, we tend to want to keep doing something because we've invested a lot of time, money, or emtion into it in the past.

But, for the most part, those costs are gone. They're sunk. You can't recover them.

Rather, you have to zero the decision out, ignore the past, take the information you have today and determine if you want to continue what you're doing.

This type of thinking can be extremely challenging and freeing.

I hope it's a useful concept to you!

Joshua

Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

305. 187-Friday Q&A: Special Needs Planning, Podcast Feedback, 15-Year Old Son's College Account, My Investment Strategy
http://radicalpersonalfinance.... download (audio/mpeg, 81.92Mb)

Description:

Today, we continue the Q&A blitz!

Here are the questions I cover today:

Do you have any tips or feedback about how to factor a special needs child  when planning for retirement, college, etc?. The typical advice usually is that, typical, once you have a special needs child things change as you dwell into the wonderful world of early intervention, therapies, IEPs, tax planning, etc,  I used to think I would just need to change my assumptions in terms of planning for our son to be with us long way past his 18th birthday, as well as making sure we plan for after we are gone. But I’m sure I’m missing other strategies. I've been working at a major package delivery company for almost 26 years. I was just inducted into the circle of honor. Which means that I have gone accident free for over 25 years. Mind you I drive in New York City. I am highly trained, and pretty good at what I do. Since listening to you, and some other podcasts. I was thinking of starting my own podcast. Driving is something almost everyone does and there really aren't any podcasts on safe driving. Trust me most people don't know what they're doing. The problem I have is exactly what you went through after episode 181. I don't want to argue with people over everything that I say. I don't understand why people can't take the good, and credible information out of a conversation, and leave the bad behind. I don't agree with everything you said, but that doesn't mean I didn't pause,  and think about what you were saying. Kudos to you. I'll be retiring in four years, maybe by then I won't care what anybody thinks. Since I have your attention I have a question. I have a 15 year old son. Who works for his mothers company from home. He he takes home takes home $225 every two weeks. In which she saves about 75% of that. I opened up a brokerage account for him to separate the money from savings, and checking. I spread the money out into four different ETFs. I'm trying to teach him to invest and diversify. The problem I have is he maybe using some of this money, or all of it for college. I'm afraid the stock portion could be a problem, since I know you shouldn't have money in the market you're going to need within 3 to 5 years. Would like to know your thoughts on this situation. During episode 181 you mentioned that you don’t have your money in the markets for moral reasons. Where do you put your money and have it grow in line with inflation or better yet beat it? I very much enjoy your show.  I took in the marathon of show #181.  Thank you for using such controversial material to make your point. There is not enough genuine debate and too much simplified propaganda from all sides in this country. One point that stood out to me from this particular show is your personal approach to investment for your own family.  My question is, if your position on investing in large “Evil” public companies is so strong that you would not personally invest in them, how do you justify working in the financial industry, advising individuals on their investments in those same publicly traded companies?  I’m assuming that you are or will be engaged in that financial advisory role. Could you also please touch on the investment categories that you are or will consider for your family's financial plan (generally speaking of course). Keep up the good work.  Your show continues to be a source of excellent information and your delivery continues to improve!

Enjoy!

Joshua

Support Radical Personal Finance: http://radicalpersonalfinance.com/patron

306. 186-Q&A: Real Estate Investing and the Financial Planning Process
http://radicalpersonalfinance.... download (audio/mpeg, 46.77Mb)

Description:

I'm continuing my Q&A blitz today. I set out to answer five questions and wound up answering two. Oh well. At least I think you'll enjoy them!

Here are the two questions I cover:

What are your opinions regarding real estate investing? Should people invest in real estate? What percentage of the portfolio should it be? Thoughts on wholesaling? Flipping? Etc.? My question is can you walk us through your typical financial planning process with an average client of yours. From the initial conversation to the presentation and implementation. How do you prioritize your recommendations? 

Enjoy!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

 



307. 185-Q&A: Effective Journaling, Where to Invest First $100, Investing Like Your Money Or Your Life, Families Investing Together
http://radicalpersonalfinance.... download (audio/mpeg, 48.54Mb)

Description:

Today, I do Q&A and answer these four questions:

Joshua, I absolutely cannot get enough of your show. Thank you very much for the effort you put in and the thought provoking product you create! It is worth the voluntary money!I've got a very open ended question: You often talk about journaling and writing to help develop thoughts, ideas, and plans. How does one get started doing this? What should your listeners focus on when getting into the habit of journaling? How often do you write in your journal? Without any framework or place to start, I find myself wanting to move on to other activities. I know it's not a direct financial topic but I believe there is a huge amount of value to the idea of putting your thoughts down on paper and developing them and it is something I'd like to start as soon as possible. It'd be great to hear your thoughts and maybe some tactics you employ to get the most out of your journaling time. Keep up the great work, -Chris 19:52 Joshua, One of the biggest goals I have in my life is to become financially independent. Which is why I came across your Podcast in the first place but I am having a hard time figuring out where exactly to go from here. I just started keeping track of every penny I make and spend so that I can start to budget and plan accordingly (I know I should have done this years ago but I gotta start somewhere!) I am 26 years old and have very little experience saving. I am a compulsive spender but I know I can change my habits with the right motivation and I know that I am still young enough to make a very significant change in my life. I have tried to find something "from the beginning" in your podcast but I havn't yet found one that fits my needs. The questions that I have are things that may seem really basic to anyone who has been financially planning for a while. What do I do with my first savings? Say its only $100 dollars, do I keep it in cash at my house? Do I open a savings account and keep it there? How much should I have saved before I start looking at other options, retirement accounts, etc. Sincerely, Garion. 29:45 Joshua, With regard to “Your Money or Your Life” (I have been reading the book for the past few days.), is the strategy for investment/FI that the author’s put forth in Chapter Nine still valid today, in your opinion. (I apologize if you have covered this already; I am still trying to get caught up with all of your podcasts.) Please keep up the awesome work. -Daniel 36:35 Joshua, First off I just wanted to say I'm a huge fan of the show and your format. It's so refreshing to actually listen to an in-depth discussion of personal finance rather than all the surface level junk online:"The one easy tip for financial freedom." So I hope you never question your long format in the landscape of quick tips and 3 easy steps posts. I've been growing more interested in personal finance/investing. I'm curious if you've ever encountered or heard of families that invest together. Whether it be siblings or siblings and parents investing together. This is something I've been pondering lately. It seems this would be a smart way for families to invest and take advantage of strength in numbers. Perhaps it's not discussed because it's taboo to talk about money at that level of detail. I really have 0 experience in this area so it'd be interesting to hear what some of the benefits/challenges would be of this kind of thing or if you've personally heard of families doing this. Keep up the good work, and know that your work has had an impact on me.Regards, -Ryan

Resources:

Jukes-Edwards, A Study in Education and Heredity https://en.wikipedia.org/wiki/The_Jukes_family Support Radical Personal Finance: http://radicalpersonalfinance.com/patron

308. 184-Financial Freedom Afloat: Lessons We Can Learn From the Long-Term Sailing Community
http://radicalpersonalfinance.... download (audio/mpeg, 40.99Mb)

Description:

I enjoy looking for financial planning tips from odd corners of the world. Recently, I stumbled across the book Financial Freedom aFloat: How to Pocket a Paycheck in Paradise by Charles Tuller as I was browsing the finance section in my local library.

Written for the cruising community, the book lays out some specific ideas and strategies for sailors who either need or want to earn some money to be able to afford to stay out on the water for the long-term.

I'm most intrigued by the challenge of the problem: how do you live a "dream lifestyle" without a lot of money?

The answer is multi-fold:

Own your shelter. Minimize your ongoing expenses. Work while you travel.

The last item is the most interesting to me right now.

How do you conveniently integrate work and life without feeling like an indentured servant? How do you earn and enjoy life at the same time?

The book does a good job of laying out some ideas. And, it gets better all the time. There are so many more options availalbe now in 2015 than there were in 2000, when the book was written.

Enjoy the ideas we draw and apply them to your own lifestyle--whether you'd like to cruise or not!

Enjoy!

Joshua

Financial Freedom aFloat: How to Pocket a Paycheck in Paradise by Charles Tuller Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

309. 183-Friday Q&A: Response to Ep. 181, Dividend Strategy in 529 Plans, Group Life Insurance vs. Individual, Lowering the Cost of Home Ownership, and Exceeding 401(k) Contribution Limits
http://radicalpersonalfinance.... download (audio/mpeg, 72.67Mb)

Description:

Today I handle your questions and comments.

Right off the bat, I respond to some of the sharp criticism of Episode 181. Perhaps it will be useful to clarify my intention with the show material.

Then, I answer these questions:

35:48 Dear Joshua, I have a question regarding a specific method for paying for my children's college education.  Putting aside the merits of a college education in general; and putting aside thoughts that I have no obligation to pay for my children's school....let's assume that I would like to pay nearly all tuition expenses for my three daughters (ages 12, 10, 5). I see 529 plans as piggy banks that I fund, will one day need to break, spend, and never see again. However, striving to create a large enough portfolio of dividend paying stocks seems like a option in which I could pay tuition with the money strictly generated from my investments. Assuming (still a moderately big assumption on my end) that I can create the principal to generate ~$25,000 in dividends at a 4% yield, does this seem like a viable option? -Brian 44:04 Joshua, I am 42 years old and currently have life insurance from my employer. I'm trying to buy life insurance from one of the providers but have the following questions: Should I continue the life insurance at work even after I get from outside? Will the 2 ever be mutually exclusive? Should I search for an agent? If so, are there any websites that can help me find one? Are websites like Accuquote reliable? How else should I compare the products of various providers? -Vikram 1:01:52 Joshua, I wanted to ask you to consider a podcast show around radical ways to lower the cost of owning a home.  Not the typical advice out there,  but more along the lines of buying a property that meets your families needs but that could provide rental income to offset your mortgage too. Cash flow around homes is a large percent of take home for most families - just seems like an area that most people are not considering and could be a significant win. -Todd 1:20:16 Joshua, While listening to Podcast #36 you mentioned changing a 401K plan to be able to defer more than the $17.5K. Can you let me know where I can learn more about this? -Harout

Enjoy the show!

Joshua

Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

310. 182-Asset Protection Planning: A Practical, Introductory Primer
http://radicalpersonalfinance.... download (audio/mpeg, 36.71Mb)

Description:

I'm fascinated by the topic of asset protection planning. It engages my personal enjoyment of complicated, intricate planning.

It's in important area of planning. But it's also one of the most over-hyped areas filled with sleazy marketing and sleazy business practices.

How do we work through this?

Today, I introduce the topic to you in a down-to-earth, accessible way.

We'll keep a healthy sense of paranoia and a healthy sense of reality firmly together as we traipse through these topics.

Enjoy the show!

Joshua

Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

 



311. 181-Why We Need More Discussion of Politics, Religion, Philosophy, Morality, and Ethics in Finance, Not Less
http://radicalpersonalfinance.... download (audio/mpeg, 169.12Mb)

Description:

Every single aspect of personal finance is influenced politics, religion, and philosophy. Every law and every decision has a moral and ethical component to it.

In modern conversation, we're unaccustomed to talking about philosophy and ethics. We steer away from discussing politics and religion because we're uncomfortable with how we can have a positive relationship with another person even when we disagree.

Or, we might feel unequipped to battle in the world of philosophical or religious ideas.

The problem is that our lives are continuously influenced by others who are battling in the world of politics, religion, and philosophy. And, we're subject to the same moral/ethical code as everyone else is regardless if we want to admit it or not!

Worse still, we don't have the choice of non-participation. Every dollar of tax we pay, every item we buy, every hour we work affects the larger system in some way. By our actions we are supporting or tearing down various systems and causes.

We are either moving the systems that surround us in a certain direction or we are being moved by them.

The final horrific reality is that most of us are untrained in the fine art of sniffing out propaganda and influence. So, we are subject to it. Most of us would be content to simply sit by and live our lives quietly; it's not possible. Because you are in important pawn in others' plans for you.

Today's show is a unique experiment for me in a teaching style. Essentially, I'm trying to accomplish a few objectives in an interesting and challenging way.

I want you to understand the impact that your worldview has on all of your decisions. I want to demonstrate how one specific worldview (in this case formal secular humanism) impacts the broader culture with its stated objectives. I want to demonstrate how all of the broader agendas within a governmental system tie back to worldview. Politics are driven by worldview. I want to demonstrate how propoganda and media are used to promote an idea in the general culture and how incredibly effective that can be. I want you to see an example of a propaganda effort that has achieved massive cultural change over your lifetime so that you can learn the skills to sniff out other agendas--specifically other agendas that are closely related to finance. I want you to see and understand that it's completely impossible to disconnect the social aspects of life and their associated moral questions from the daily, practical & financial aspects of life. You've got to be a consistent human being with a clear and consistent framework. I want you to see and understand how theories change and adjust over time and how society changes throughout history.

I hope you enjoy the show. It's an unusual discussion but it's an important one.

I will be building on the content of this show in future episodes as we sort our way through the swamps of financial movements, theories, and conspiracies in the future.

Let the critical thinking skills commence!

Joshua

p.s., I've tagged this show with the [EXPLICIT] label because of the content and some of the words used. This show is most appropriate for adult audiences, not for children.

Links:

Tax Freedom Day http://taxfoundation.org/article/tax-freedom-day-2015-april-24th Humanist Manifesto II: http://americanhumanist.org/Humanism/Humanist_Manifesto_II Humanist Manifesto III: http://americanhumanist.org/Humanism/Humanist_Manifesto_III The Overhauling of Straight America http://library.gayhomeland.org/0018/EN/EN_Overhauling_Straight.htm Pedophilia: A Disorder, Not a Crime: http://www.phillymag.com/news/2014/10/06/pedophilia-not-a-crime-rutgers-margo-kaplan/#Aoo1WrpEBhxWmZHb.01 Detailed outline of "After the Ball: How America Will Conquer Its Fear and Hatred of Gays in the 90s" http://www.parentsofgaychildren.org/uploads/After_the_Ball_-_outline_by_Richard_Cohen.pdf

312. 180-How Life Insurance Policies Actually Work
http://radicalpersonalfinance.... download (audio/mpeg, 64.32Mb)

Description:

Today, I share with you the framework knowledge of how life insurnace policies actually work. Once you understand these basic concepts you'll be able to look at any type of insurance policy and more easily understand its use.

Topics include:

Assessment life insurance Yearly renewable term life insuance Level premium life insurance The factors that affect life insurance policy pricing The five types of life insurance policies

Enjoy!

Joshua

Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

313. Out & About: Joshua's Advice For Young People: Interview on the Anarcho-Yakitalism Podcast with Nick Hazelton
http://radicalpersonalfinance.... download (audio/mpeg, 80.61Mb)

Description:

I'm not able to record and release a new show for you today due to the rather pressing deadline of the April 15 tax filing date.

I'm finishing up my return today so I'm releasing an interview I gave on the Anarcho-Yakitalism Podcast with Nick Hazelton.

Nick is a young man who raises yaks and pigs on his farm in the Pacific Northwest. He is 16 years old.

I shared a bit of my story with him and gave him a bit of life coaching on how I think about financial planning and life planning for young people.

This show was originally released on February 24, 2015 on Nick's website.

Enjoy!

Joshua

Links:

Nick's website: http://an-yak.com/ Original post on Nick's site: http://an-yak.com/ep-21-financial-advice-with-joshua-sheats-anarcho-yakitalist-podcast/ Support Radical Personal Finance! http://www.radicalpersonalfinance.com/patron

 



314. 179-Friday Q&A: Where to Keep An Emergency Fund, Should I Make a 50% Down Payment, How to Pay For a Master's Degree, How To Prepare For An Overseas Trip
http://radicalpersonalfinance.... download (audio/mpeg, 42.02Mb)

Description:

This morning, I put out a note on the Patreon page for questions from the patrons and I received four:

02:38 I'm currently in the "Financial Stability" stage of building wealth. Where do you recommend keeping an emergency fund &/or savings for large purchases? 17:36 My only major financial goal is to buy a small condo in Hollywood in about 6-7 years. I am 33 years old, single and don't plan on starting a family. I have about $170K in investments/retirement and am on track to have an additional 80-90K saved for the condo in about six years. I want to make a 50% down payment on a $200K condo (so basically a 100K down payment).   My dream is to have a super low monthly mortgage payment (around $500 - 600 per month). That would be very freeing for me! I want the flexibility in life + career that low monthly expenses would give me. Am I crazy to make such a big down payment? I know its almost half of my net worth, but it feels right for my lifestyle choices.   I'm tired of being stuck in the super-high trendy-city apartment renting hamster wheel ;)  30:19 I have a 529 for my oldest son. I am planning on transferring that to my wife as she will be going back to school in August of 2016. She is a teacher, once she graduates with a specialist degree she will receive an automatic $5,000 annual pay raise. We estimate the program will cost $15,000 and can be completed in 18 months-24 months. The 529 plan is currently invested very aggressively (based on our oldest son's age of 6). I am planning on immediately changing the investment to the guaranteed option (1-1.25%). Am I missing any other investment options? We use Georgia's 529 plan which is TIAA-CREF based. It seems an easy choice to me. What else am I missing? Any other thoughts? The current value is $12,700 and we contribute $600 per year. If we are short during the last semester or two, we plan on paying with excess cash flow we hope to save up by then.  40:34 If you were at a "Financial Stability" stage 3.5 in the US (debt is eliminated and about 50% of basic items are addressed) and were planning on moving overseas for 2 years (in 2 years), what steps would you take to secure your financial future?

Enjoy the show!

Joshua

New Charter University http://new.edu/info/tuition/ Become a Patron of the show! http://radicalpersonalfinance.com/patron

315. 178-How Much Life Insurance Do I Need? A Simple Tutorial On How To Calculate A Life Insurance Needs Analysis For Yourself
http://radicalpersonalfinance.... download (audio/mpeg, 36.11Mb)

Description:

Today's show gives you the tools you need to sit down and calculate an appropriate amount of life insurance coverage for you to own.

On Episode 173, I discussed the three primary ways of calculating an appropriate amount of insurance:

Human Life Value approach Needs Analysis approach (the best) Rule of Thumb approach

This show teaches you how to calculate a Needs Analysis.

The process is simple:

What You Want - What You've Got = What You Need

In order to figure out what you want, simply make a list of everything you want for your family in case of your death.

Divide that list into:

Lump Sum needs (immediate cash) Income needs (ongoing cash)

For the income needs, decide:

How much? For how long? Liquidating approach or a non-liquidating approach?

Enjoy the show!

Joshua

Links: 

Episode 173: http://radicalpersonalfinance.com/173-economic-basis-of-life-insurance-and-individualfamily-uses-of-life-insurance/ Episode 101: http://radicalpersonalfinance.com/how-to-calculate-how-much-you-need-to-save-for-your-kids-college-rpf0101/ Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

316. 177-Interview with Meb Faber of Cambria Funds: Investment Process for Normal People
http://radicalpersonalfinance.... download (audio/mpeg, 46.22Mb)

Description:

By popular request, I've invited Meb Faber on the show for an interview. Meb is well known in the investment world for his contributions on tactical asset allocation and trend-following.

In the interview we cover:

Meb's background and accidental path into the investment world The philosophy of business behind Cambria Funds How to construct an investment process for individuals True historical rates of return for various asset classes The impact of asset allocation over the long-term How to protect yourself from your behavioral biases

Enjoy the show!

Joshua

p.s., listen to the show for an opportunity to get Meb's most recent book for free!

Links:

Meb's website: http://mebfaber.com/ Cambria Funds: http://www.cambriafunds.com/ Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

317. 176-Practical Asset Allocation and Asset Location for Short-, Medium-, and Long-Term Goals
http://radicalpersonalfinance.... download (audio/mpeg, 16.20Mb)

Description:

Today I want to share a very simple concept with you regarding practical asset allocation.

If you plot your goals on a simple matrix and plot all of your investments on the same matrix, you'll more easily be able to select an appropriate investment to fund each goal.

Here's the matrix: 

home-run dollars

aggressive dollars

safer dollars

-------------------> short-term -----> mid-term -----> long-term

Enjoy the show!

Joshua

Support the show as a patron: http://radicalpersonalfinance.com/patron

 



318. 175-Friday Q&A: Can Financial Advisors Increase Your Returns, How to Prepare For the CFP Exam, Fastest Way to Become a 1%er, How Do You Trust Insurance Agents, What is the Role of an IPO in an Investment Portfolio
http://radicalpersonalfinance.... download (audio/mpeg, 53.21Mb)

Description:

Friday Q&A shows are fun and today is no exception. Today I answer five questions:

Is there any academic support for the value of financial advisors? What is the best way to prepare to pass the CFP exam? What is the fastest way to become a 1%er? How do you learn to trust insurance people? What is the role of an IPO within a broader investment portfolio?

Enjoy my answers!

Joshua

Links:

Research on investors' actual returns with DFA funds. Vanguard's paper on the value that an advisor brings. Morningstar's paper on the value of an advisor. "Route to an $8 Million Portfolio Started with Frugal Living" "How Much Money Does it Take to Be in the Top 1% of Wealth and Net Worth in the United States?" "How Much Money Does It Take to Be In the Top 1% by State?" Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron

319. 174-The Stages of Financial Independence: A Useful Roadmap to Help You Navigate from From Broke to Financial Freedom
http://radicalpersonalfinance.... download (audio/mpeg, 43.41Mb)

Description:

You can’t go from broke to rich in a single step. There’s no magic fairy who will suddenly transform your financial life for you. You have to do it yourself.

But you can work your way through a path that leads to financial independence and complete abundance. That path has stages and you should celebrate your progress at every stage!

In today's show, I share with you my ideas regarding the stages of financial independence. I believe this is a useful roadmap to help you navigate from where you are to total Financial Abundance.

Stage 0: Financial Dependence

Stage 1: Financial Solvency

Stage 2: Financial Stability

Stage 3: Debt Freedom

Stage 4: Financial Security

Stage 5: Financial Independence

Stage 6: Financial Freedom

Stage 7: Financial Abundance

My challenge to you is to take these stages, understand where you are, and lay out the numbers of your own situation. How much do you need to be financially stable? What's your number for financial independence? Financial freedom?

Write it down clearly for yourself and then keep working on it!

Enjoy the show,

Joshua

Links:

Here is the new page on the website: http://radicalpersonalfinance.com/finance-topics/stages-of-financial-independence/ Become a Patron of Radical Personal Finance! http://radicalpersonalfinance.com/patron

320. 173-Economic Basis of Life Insurance and Individual/Family Uses of Life Insurance
http://radicalpersonalfinance.... download (audio/mpeg, 53.23Mb)

Description:

At long last, we enter into the oft-requested topic of life insurance! Today's show is an introduction to the economic basis and justification for life insurance and it's also an outline of some of the uses of life insurance for individuals and families. (We'll cover business uses another day.)

You also get the joy of a bit of a sales pitch on why I love life insurance planning so much. It's truly an incredible financial product.

Life insurance is founded on the economic value that each of us provide to others and on our moral obligation to provide for our dependents.

Because each of us has an economic value that can be estimated, we can come up with some formulas to understand how much life insurance is appropriate.

The three major approaches to determining an appropriate amount of life insurance are:

Human life value approach Needs analysis approach Rule of thumb approach (most popular is the multiple of income approach)

The best of these methods is the needs analysis approach. It balances the need for precision and the need for simplicity quite effectively.

Life insurance can have many uses for individuals and families:

Immediate funds: Cash to meet daily living needs Cash to pay expenses associated with death Cash for emergencies, repairs, or replacements Ongoing income: Spouse Children Parents Nondependents Funds to pay debts Funds for death taxes Funds for dependents' education Funds for trusts Funds for charities Funds for gifts Funds to supplement retirement income Funds for home health care or nursing home care Funds to transfer assets to a younger generation Funds to discreetly provide for confidential needs

Enjoy the show!

Joshua

Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

321. 172-Retirement Planning From The Financial Advisor's Perspective: Interview with Roger Whitney, Host of the Retirement Answer Man Podcast
http://radicalpersonalfinance.... download (audio/mpeg, 47.35Mb)

Description:

Retirement planning is at the core of the financial planning profession. But, it's a very complex subject and it's tough to wrap your head around the process.

I've invited Roger Whitney, CFP®, CIMA®, CPWA®, AIF®, financial advisor and host of the Retirement Answer Man Podcast on the show today to chat about retirement from his perspective.

Roger specializes in working with retirees and prospective retirees in a formal financial planning capacity. I think you'll be intrigued by some of his perspectives.

Show topics include:

Roger's path through the financial planning profession How to create a retirement plan How to plan for retirement when you don't have enough money What to do if you can't retire...or simply don't want to The impact of podcasting on Roger's financial planning practice

Enjoy!

Joshua

Roger's "Retirement Answer Man" podcast: http://www.rogerwhitney.com/ Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

322. 171-Constantly Adjust the Scale of Your Budget Numbers for Maximum Mental Impact
http://radicalpersonalfinance.... download (audio/mpeg, 44.19Mb)

Description:

One of the challenges of personal finance math is the relevance of a particular scale. Sometimes you can get a massive benefit by switching to a different scale.

One famous example is the daily latte. $4 for a latte sounds about right in today's world. But if you do it every day, it adds up. To fully appreciate the impact of the seemingly small expenditure you can change the scale from daily to annual.

$4/day x 5 days per week x 52 weeks per year is $1,040/year spent on coffee. That's a lot of money!

If you're scared that I'm trying to take away your latte, don't be. I'm not! But I do want you to use and apply that tactic to the actual numbers from your financial life.

In today's show:

Updates from my canceling the show last week so I could launch the new website! It still needs plenty of work (especially for me to go back through and properly categorize all of the past episodes) but it's functional!  Why we need to convert to a different scale to appreciate the meaning of a number. Why we have problems understanding very large numbers. Why we have problems understanding compound interest. Converting from annual/monthly numbers into daily numbers. Converting from daily/weekly/monthly numbers into annual numbers. How to create factors to quickly convert numbers to a 10-year number for both one-time epenses and ongoing expenses. Stretching to a 40-year time period and a lifetime time period. Using the financial independence math based upon the 4% rule. (Multiply monthly numbers by 300 and annual numbers by 25 to know how much you need to have saved.) How I apply this concept to my income as well.

Enjoy the show!

Joshua

Links:

Support the show financially! http://.radicalpersonalfinance.com/patron

323. Out & About: Joshua's Interview on the "Dough Roller Podcast" by Rob Berger
http://radicalpersonalfinance.... download (audio/mpeg, 110.94Mb)

Description:

I've got a double problem this week that is keeping me from releasing shows:

No internet at my house. Launching the new site.

So, I'm releasing a couple of interviews that have been recorded with me in the past.

This one is very good. Rob is a great interviewer and he was able to get very in-depth.

This show has an in-depth discussion of the benefits and problems of financial advisors. 

Rob was also able to pull some pretty personal stuff out of me from my past!

Joshua

Links: 

The original post on Rob's site: http://www.doughroller.net/personal-finance/interview-of-joshua-sheats-cfp-of-radical-personal-finance/ Subscribe to Rob's show: http://www.doughroller.net/thepodcast/ Support RPF on Patreon: http://radicalpersonalfinance.com/patron

324. Out & About: Joshua's Interview on "Side Hustle Nation" with Nick Loper: Tax Savings Tips for Side Hustlers
http://radicalpersonalfinance.... download (audio/mpeg, 46.38Mb)

Description:

I'm not able to record a normal show today, so I'm releasing a copy of an interview I conducted with Nick Loper from Side Hustle Nation.

This interview was released on February 19, 2015 on Nick's show, just in time for tax-time!

This show is a good overview of some general tax tips:

When and why you should incorporate your business, and why most beginning side hustlers should NOT. How to set up a business name even as a sole proprietor. The types of expenses you can deduct as a side hustler. 3 overlooked tax savings opportunities that will get your gears turning. How to audit-proof your side hustle. A free business idea for people who get a kick out of helping people save money.

Enjoy!

Joshua

Links:

The original post on Nick's site: http://www.sidehustlenation.com/tax-saving-tips-for-side-hustlers/ Subscribe to Nick's show is you're interested in more ideas on making money on the side: http://www.sidehustlenation.com/itunes Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

325. 170-The Voluntary and Forced Transitions of The Financial Industry: Interview With Fred Gabriel, Editor of Investment News
http://radicalpersonalfinance.... download (audio/mpeg, 34.93Mb)

Description:

My guest today is a veteran of financial reporting. Fred Gabriel has spent the last 17 years reporting on the financial advice industry. He began his career as a mutual fund reporter and progressed to be named the editor of Investment News in 2012.

I spoke with Fred at the Technology Tools for Today Conference and we focused our conversation on the changing landscape of financial advice. Due to the nature of his job, Fred has a front-row seat on all of the changes happening in the industry.

The interview focuses primarily on the investment advice industry but does have ideas and content which can be applied to other industries. Topics include:

History of the investment industry and the changing appearance of financial advisory firms. The changing role of marketing for financial services businesses.  The transition from large investment firm marketing to individual financial advisor marketing. How large firms can appeal to millenial advisors. How trusted are financial advisors? How advisors can build more trust with the general public. The marketing of commission-based financial advice, fee-based financial advice, and fee-only financial advice. The increasing transparency of the marketplace.

Enjoy the interview!

Joshua

Links:

Fred's recent articles on Investment News: http://www.investmentnews.com/staff/fgabriel Support Radical Personal Finance: http://www.radicalpersonalfinance.com/patron

326. 169-If You Understand and Apply Opportunity Cost to Every Decision, You'll Coach Yourself To Your Ideal Life
http://radicalpersonalfinance.... download (audio/mpeg, 45.46Mb)

Description:

On Monday, I released the show on new cars vs used cars. It became clear to me while doing that show that I really needed to do an in-depth discussion of the concept of Opportunity Cost.

If you understand Opportunity Cost you can easily help people to make better decisions.

All of us make decisions based on what we value. Every transaction is based on each party involved preferring what the other has more than what he/she has.

Good decision making is largely based on simply understanding all of the options that each of us has, considering the various scenarios, and then choosing which scenario is most ideal for our circumstances.

In today's show I add some serious meat to this idea with a bunch of pertinent examples:

Car-buying options College options Housing options Eating and moving options Options on where we live Family options And more!

At the end of the day, you control your own life. Consider your decisions carefully and simply make the decision that is best for you.

Joshua

Links:

Support the show on Patreon: http://radicalpersonalfinance.com/patron Russ Robert's article on Opportunity Cost: http://www.econlib.org/library/Columns/y2007/Robertsopportunitycost.html 100 Countries or an SUV: http://chrisguillebeau.com/100-countries-or-an-suv/

327. 168-The Profit Potential of Niche Industry Conferences: Interview with Philip Taylor of PTMoney.com and FinCon
http://radicalpersonalfinance.... download (audio/mpeg, 60.48Mb)

Description:

I've brought you some shows on the concept of advancing your career by attending industry conferences.

But what about getting a double bonus by organizing the conference yourself? That way you get all the benefits you would get from attending but you get the added bonus of becoming an industry leader.

Plus, perhaps you can make some money on the event!

My guest today is Philip "PT" Taylor, founder of http://ptmoney.com/ and http://finconexpo.com/. PT started working as a CPA, transitioned to full-time financial blogger, and ultimately created one of the most well-loved financial conferences: FinCon.

The interview is a complete discussion of:

PT's personal finance story and his journey out of debt. How he transitioned from working as a CPA to working as a full-time blogger. Where the idea for the Financial Blogger's Conference (FinCon) came from. How he financed the initial transition. How much money he made in the early years and the most recent year.

Enjoy the discussion!

Joshua

Links:

PT's website: http://ptmoney.com/  Details for a ticket to FinCon: http://finconexpo.com/ Details of PT's first year of self-employment: http://ptmoney.com/self-employment-a-year-later/ Support Radical Personal Finance: http://radicalpersonalfinance.com/patron

328. 167-Used Cars vs New Cars: The Great Debate
http://radicalpersonalfinance.... download (audio/mpeg, 57.36Mb)

Description:

Ahhh, the great debate over cars! Should I buy new or should I buy used?

In reality, the answer is simple:

What are the needs and wants you're trying to satisfy? Which option meets those needs for the lowest total, lifetime cost?

Choose the option that fits best.

But, of course, there are as many ways to answer those questions as there are people in the world.

Regardless of the decision you make, here are some ideas for you to consider to lower the total cost and enhance your results:

The thought process for choosing a used car vs. a new car is no different than the decision applied to any other item that you own. We should consider new vs. used for every item that we buy. Cars are a bit unique though because of their relatively high purchase price and also because we have such an easily accessed and abundant used car market. We have an incredible used car market in the USA because: Tons of people regularly buy new cars while their old cars have lots of useful life left. If the supply weren't so plentiful, the recommendation to "buy used" would be more difficult to implement. Vehicles are built to a high quality with a long potential life span. Most vehicles are lightly used. Long highway miles on paved roads don't take a huge toll on a vehicle. If you were in a different situation, it would be different. For most people, the highest cost of car ownership is depreciation. Depreciation is calculated like this: Initial Purchase Price - Residual Value When Sold = Depreciation (your actual cost) To make an intelligent buying decision, carefully consider your actual needs and wants and consider the options that will fit those needs and wants. Think carefully about your opportunity cost. If you can save $10,000 of total cost over the lifespan of ownership, what could you spend that money on? For example, would you rather have a cheaper car and a motorcycle or just a more expensive car? Would you rather have a cheaper car and an extra $500,000 in 40 years or just have a more expensive car? The decision is up to you. Consider all of the costs of ownership: Depreciation expense Fuel/energy costs Downtime expenses (in case of repair) Financing costs Maintenance/repair costs Insurance costs Other expenses (parking spots, garage space, car wash expense, etc.) There are ways to mitigate each of these categories of expenses. The best situation is to find an optimized approach in each category. Since the biggest consideration between used and new is depreciation, here are some ideas to minimize depreciation: Buy a less costly vehicle. (20% depreciation on a $40,000 vehicle is a loss of $8,000 in one year. 20% depreciation on a $20,000 vehicle is a loss of $4,000 in one year.) Get an up-front deal. (Buy the same vehicle but buy it at a more opportune time for less. Be out of sync with the general marketplace.) Buy a vehicle that depreciates at a slower rate. (Look for a unique segment where you can use a vehicle that maintains its value more than the general market.) Take better care of your specific vehicle so that it depreciates more slowly.  Keep your vehicle for longer. (No matter whether you buy used or new, just keep your vehicle for longer so that the impact of depreciation is lessened.) If you want to give a shot at havine a one-car household isntead of a two-car household, consider supplementing for your transportation needs with Uber or Lyft.

Enjoy the show!

Joshua

Support the show! http://radicalpersonalfinance.com/patron

 



329. 166-Why I Host a Daily Podcast and Why You Should Model Me (But Not Necessarily Copy Me)
http://radicalpersonalfinance.... download (audio/mpeg, 78.07Mb)

Description:

I'd like to share with you a look behind-the-scenes of the business of Radical Personal Finance. I want you to know why I host a daily (or at least almost-daily) podcast and why I've stuck with that, even with many people suggesting less frequency.

To be clear: I don't think you should copy what I'm doing. But perhaps if you understand why I'm doing what I'm doing you may be able to apply it to your own endeavors.

I'm creating this show for a few reasons:

Some listeners are concerned about my pace and my ability to sustain it. It will be helpful for you no matter what business you're in as you can understand my thinking process as I create a new business. It will be especially helpful for you if you're a podcaster. I think a lot of the advice that's being given in the podcast world is bad...people say "do this" without illustrating the principles behind it. I will share with you what I'm doing and also why I'm doing it.

This show is going to sound very me-focused. It's intended to be helpful for you but I'm sharing all of my personal, selfish motivations to demonstrate my way of thinking. 

My reasons:

Fundamentally, I host my show daily because I believe the format is best for my audience. That's it. I want to be a source of daily encouragement, inspiration, and education in your life. I remember how important having a source of daily encouragement was to me in the past when I was working my way out of debt in college. I'm scratching my own itch. I'm creating the show I wish were there for me when I was 15 years old. I have nothing else to go on. I want one show that has unique content that makes me think. I don't want to wander around downloading from 11 different podcast feeds to scratch my itch. It's more convenient to have one but for that one to have varied content. I needed and still need to build the skills of a broadcaster. By doing a daily show instead of a weekly show, I have 400% more experience than I would have otherwise. That experience compounds over time. I believe it's wise to learn and then really learn by doing. I have a tremendous competitive advantage because of how hard I work at it and I have learned and improved tremendously. I have the long-term view: I'm focused on 2015 but I'm even more heavily focused on 2017. Or 2018 when the potential audience size increases massively. I need to be ready for that. I'm doing what I believe I'm best at. I don't feel that I'm the most creative writer. But I'm a good speaker. So, I'm focusing on my strengths. Producing lots of verbal content actually comes more easily to me than to many people. I have years of pent-up frustration to express. I have years of financial ideas that have never been publicized. I'm a verbal learner so the best way for me to learn is to teach. There is more competition in the podcast space than ever. I want to push my competitors aside in terms of audience focus. I want people to find my show, fall in love with it, and stop searching for new content. Their other feeds will run out of content. Mine won't. I'm modeling the success of radio and TV. Most well-known radio programs are 5 days per week. Why? Because of the normal flow and routine of our work week. Many people listen to things while they work and the 5-day work-week is common. People are used to the regular flow of content streaming in on their radio, their TV, etc. Now, there's a transition to on-demand. When you find something you like...you zero in and consume the archives. But, I pay careful attention to the differences between podcasting and radio. Radio is not cumulative. Radio is a "dip your toe in the water" kind of format. You'll notice that radio is always either current events or Q&A. That's great for tuning in and tuning out. Podcasts are different. I'm focusing on taking the good from radio and adjusting it for a podcast-listening audience. Some listeners listen every day almost as soon as the show comes out. Many listeners go back and listen to the archives. I try very hard not to repeat topics. There is some overlap but I'm focused on consistently fresh, new ideas. Format is not the answer to a problem. Content is. You should fit your format to your content and goal. There are many popular weekly programs. But I don't really enjoy many of them because I'm not interested in the content. I simply believe that the format that I've chosen is the best way for me to help my listening audience. I essentially have four different shows and I can't choose between them: A short-format Q&A show. An interview show. A technical financial planning show. A unique personal finance show. Different types of shows appeal to different audience members. My technical shows are the least popular. But some listeners only listen to them. By having a varied format I can appeal to a broader audience. My vision is to keep the content so varied that you're always interested in what tomorrow's show topic will be! I'm focusing on the strengths that I have: I didn't have an audience when I started. I didn't have a platform. I didn't have experience as a broadcaster. I didn't have any other content to promote. So, I can whine about it or I can focus on what I do have. What I do have is a tremendously broad interest in various topics and a tremendous depth in financial planning topics. So, I'm focused on highlighting my strengths and playing to them rather than worrying about my weaknesses. I'm focused on my core fans and completely focused on serving them with massive value. You always have to look at who is giving you comments and feedback. I read online feedback often about my show: Joshua's show has too many episodes. I factor it in. But just because someone in an online forum doesn't like the format...they're not paying me any money. Just expressing their opinion doesn't mean I should change because of it. I pay attention to the names of the people that send me money. I listen carefully to them. And many of them listen to every show and many of them like the daily format. In fact, many of them only send me money because of how consistently I deliver content. I'm focusing on bringing in new audiences. Diverse topics are good for daily listening--that's the most important thing. But they're also good for helping new listeners find me. People search google. People search itunes. Shows get linked. The more content I create on specific topics, the more findable and useful I am. Interviews are also helpful. Every time I do an interview, I have the potential to reach a new audience and attract some additional listeners. I get bored by a lot of interview-only shows. But, I think some interviews are valuable to my audience. If I did a once-a week show, I wouldn't have any interviews. Two per week feels like a good fit to me. I'm focusing on financial productivity of the show. Patreon probably shouldn't work based on the percentage of many audiences who support various creators. If you run the numbers of some of the largest Patreon campaigns, the "conversion ratio" is tiny. It averages about .03% of a listening audience who is actually supporting a creator. The percentage of the audience who is sending money to me volunatarily for my show is about 5%. I'm convinced that's because of the much closer bond I have with a daily show. Advertising that is based on a Cost Per Thousand (CPM) model is also based on the number of shows I produce. If I use John Lee Dumas's numbers of $43 per thousand listners per show and I calculate based on 3,000 listeners, my income potential is dramatically different based on the frequency of my show. Four shows per month, 3,000 listeners, $43 per thousand listeners and two advertisers per show comes out to to $1,032 of monthly income. 4 x 3 x $43 x 2 = $1,032/mo. But, 20 shows per month is very different: 20 x 3 x $43 x 2 = $5,160/mo. That's compelling. Affiliate commissions: if I'm here every day reminding you about something that I'm selling, there's a much bigger reach than if I'm talking to you once per week. If I'm selling my own products, it's exactly the same. I'm creating the job I want to have and testing it on my own time before I go and try to find it. If the podcast fails, I might go and try to compete in the financial talk radio space. I think that would be fun to do. But that format would probably be daily. I wanted to see what it would be like to follow that schedule.

I'm not committed forever to this format. I'm still experimenting. But for now, the benefits are so great in comparison to the drawbacks that I'm continuing forward.

The competitive landscape is changing. I may change in the future.

But for now, my barometer for success is the heartfelt emails I receive from committed listeners who really value my content. I'm having a connection and an impact on the community. I believe what I'm doing is working and I won't change it until I find something I believe will serve more effectively.

At this stage, I'm creating a body of content and building an audience. I might shift my focus in the future. But not yet. I understand where I am in the phase of my business and this is one piece of my plan.

Take these things and apply them to your business and life endeavors.

What are you trying to do? What skills do you have? What is your unique selling proposition? How can you stand out from the competition? Who are your customers? How can you serve them? How can you learn from others and study them but not necessarily copy them? Model, don't copy. How can you focus on your strengths rather than your weaknesses? How can you choose yourself and choose your career?

Focus on what you can do, not on what I can do. There are many, many other things that I would love to do more than I'm doing now. I don't have the capacity yet to do them. But I can focus on what I can do. And that's working.

My format is not my pledge or my brand. My content is. If I don't have something worth saying and if I'm not prepared to deliver a show, I'm not going to waste your time.

My commitment is to the audience. To bring you an idea worth hearing that is well prepared and well presented and that is useful to you. That's my brand. Not doing a show every day.

I also don't care if a show is 3 hours long or 3 minutes long. It should be exactly as long as it needs to be to convey the point and to be effective. Sometimes that's short. Sometimes it's long. Sometimes it's being split into two or three parts.

But format does not equal content. 

Enjoy!

Joshua

Links:

Support the show on Patreon: http://radicalpersonalfinance.com/patron

330. Out & About: Part 2 of Joshua's Interview on "Family Adventure Podcast" with Erik Hemingway: "Build a Budget for Travel"
http://radicalpersonalfinance.... download (audio/mpeg, 50.67Mb)

Description:

This week I'm focused single-mindedly on the new version of the Radical Personal Finance website. So, I'm releasing some alternative content to you for your listening pleasure.

This is Part 2 of an interview I gave on the Family Adventure Podcast with Erik Hemingway. It was released in November 2014.

The interview is an introduction to a bunch of concepts on how to focus your budget so that you can afford long-term adventure travel.

It's super fun. Erik has a great podcast that my wife and I enjoy listening to together. 

Enjoy!

Joshua

The original post on Erik's site: http://www.familyadventurepodcast.com/budget2/ Subscribe to Erik's show if you're interested in more super fun interviews on family adventure! https://itunes.apple.com/us/podcast/family-adventure-podcast-erik/id806349037?mt=2 Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

331. Out & About: Part 1 of Joshua's Interview on "Family Adventure Podcast" with Erik Hemingway: "Build a Budget to Live Free!"
http://radicalpersonalfinance.... download (audio/mpeg, 49.62Mb)

Description:

This week I'm focused single-mindedly on the new version of the Radical Personal Finance website. So, I'm releasing some alternative content to you for your listening pleasure.

This is Part 1 of an interview I gave on the Family Adventure Podcast with Erik Hemingway. It was released in October 2014.

The interview is an introduction to a bunch of concepts on how to focus your budget so that you can afford long-term adventure travel.

It's super fun. Erik has a great podcast that my wife and I enjoy listening to together. 

Enjoy!

Joshua

The original post on Erik's site: http://www.familyadventurepodcast.com/radicalfinance/ Subscribe to Erik's show if you're interested in more super fun interviews on family adventure! https://itunes.apple.com/us/podcast/family-adventure-podcast-erik/id806349037?mt=2 Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

332. Out & About: Joshua's Interview on the "Create My Independence" Podcast With Kraig Mathias
http://radicalpersonalfinance.... download (audio/mpeg, 41.07Mb)

Description:

This week I'm focused single-mindedly on the new version of the Radical Personal Finance website. So, I'm releasing some alternative content to you for your listening pleasure.

This is an interview I gave that was released on September 4, 2014 on the Create My Independence Podcast with Kraig Mathias. It was the first podcast interview I ever gave after starting my show!

It has a good bit of my story as well as some various bits of advice on finance. 

Enjoy!

Joshua

The original post on Kraig's site: http://www.createmyindependence.com/2014/09/04/cmi-26-interview-joshua-sheats-radical-personal-finance/ Subscribe to Kraig's show if you're interested in more of his content: http://www.createmyindependence.com/itunes Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron

333. 165-Friday Q&A: Handling Aging Parents Finances, Roth Rollovers, Thinking More Broadly About Investing, How to Pay for Your Body to Be Frozen Until You Can Be Reanimated and How to Be Rich When That Happens!
http://radicalpersonalfinance.... download (audio/mpeg, 58.84Mb)

Description:

It's Friday and on Fridays, I answer your questions. If you'd like me to answer your questions, please email them to me or call them in on the website.

Question #1:

Joshua,

My father, who is 60 years of age, has become a victim of numerous scams over the last year or two. Generally, they involve him receiving calls that he won some prize and needs to wire some money (usually in $500 increments) to the West Indies, Jamaica, etc. His decision making with his finances is not good, to say the least. He continues to fall for these scams despite being told by numerous family and friends, law enforcement, and bank reps that it is a scam and he is never going to receive any "prize."

His financial situation is as follows... he receives Social Security (Disability) for around $1,400 per month. His expenses are only about $700 per month. He owns a very modest house that is paid off. Also, he has a bank IRA worth about $50,000 (earning a whopping 1.3% fixed) which is a rollover from a 401k he had when he was employed.

In my efforts to help him with his finances I got him to give me Power of Attorney and I was added as a signer on his checking account. I am able to monitor his checking account through online banking. However, I live too far away to proactively keep dad from wiring in money for these scams. All I can do is call Dad after I see he has made a large cash withdrawal from his checking account and ask what it was for. I can tell by his evasive answers that it is usually for another scam.

My question is, how can I prevent Dad from wiping out his IRA and spending all his future social security earnings on the dream of the big foreign lottery prize? Does the Power of Attorney allow me to move the IRA to another financial institution (perhaps an online broker, or something out of state). As it stands, Dad can go down to the local bank an withdraw from the IRA with ease. The account could be wiped out before I had the chance to try to talk some sense into him. Also, is there some way for me to become a custodian of the Social Security payment where I could ensure Dad's needs were met, and had the rest of the funds could go into a savings account in his name? I would welcome any other suggestions you have on this matter.

Your response would be appreciated very much!

Take care,

Jason

--

Question #2: @21:11

Joshua,

How much can one roll into a roth IRA from a traditional IRA?

Is it true that interest earned in the traditional IRA is treated as principles once rolled into the roth and can be withdrawn without the penalty after 5 years?

I really like the variety of your show. keep it up.

Best wishes,

Brad from Utah

--

Question #3: @27:11

Joshua,

A friend (22 y.o. male new grad. just starting his first engineering job) asked me if I had any good resources on investing.

Prior to his question...I sent him your "Become a millionaire working at Walmart" episode as I felt that portrayed a lot of key concepts very well.  I want to recommend another episode that really embodies your take on investing which I think is very helpful....as my friend seems to think investing just means putting money in the stock market.

What would you share with him?

Dustin 

--

Question #4: @38:17

Joshua,

I think I have a unique and "radical" financial situation. I figured with your unique outlook on things and the interesting nature of your show this might an interesting question for you to consider.

I want to be frozen after my legal death and reanimated later. I also want to preserve my wealth so that if/when I am brought back I will gain the benefit of at least many decades of compound interest.

My question is:

How should I fund my being frozen and how should I preserve my wealth in perpetuity after my death till my reanimation?

Details:

I currently have a 20 year term $150,000 life insurance policy. The cryonics organization is set the be the beneficiary. Upon my death they will take my body and fly it to their facility where it will be retained.

The cryonics plan that I have signed up for costs $80,000. I have added the additional $70,000 for any chartered flights that might be needed to be flown or any legal battles that might need to be fought in order to get my body.

I know that the 20 year term will expire and as I am presently 23, I (hopefully) will still be around. I was wondering what I should do long term?

I was considering just using the company's standard trust model and just pumping money into it over the 20 year period.

My insurance rep thinks I should move to a whole life policy.

What are your thoughts?

My second question is in regards to preserving my personal wealth upon death. As I will no longer be a legal person upon death, what is the best way preserve and grow my wealth over the years in such a way that I can claim it upon being reanimated? Ideally I would like to have a revival incentive in order to encourage people to revive me, something along the lines of 20% of the wealth accumulated.

What do you think the best financial instrument would be? A trust? It's a bit tricky as I will not be a legal person after death.

It's an odd question and I appreciate your help,

Thanks,

Caitlin

--

Enjoy the show!

Joshua

Links:

Support the show: http://radicalpersonalfinance.com/patron Wikipedia: Rule Against Perpetuities

334. 164-An Introduction to Hackerspaces and Makerspaces: Interview with Jessica Fong, President of the South Side Hackerspace in Chicago
http://radicalpersonalfinance.... download (audio/mpeg, 29.36Mb)

Description:

Years ago I heard of the concept of a hackerspace/makerspace. In essence, a hackerspace is a community-operated physical place where people can meet and work on their projects.

But, the work that can come out of those spaces is far more impressive than that description makes it sound like.

I've wanted to bring you the concept but since I'm not an expert, I needed to do it in the context of an interview. I was thrilled when a listener of the show recommended that I interview Jessica Fong, president of the South Side Hackerspace in Chicago.

In the show, Jessica shares details on:

What hackerspaces are and some of the great things that have emerged from them. How their organization was started. Advice for others interested in founding such a venture.

Enjoy the interview!

Joshua

Links:

South Side Hackerspace, Chicago Hackerspaces.org

335. 163-The Impact of Your Savings Rate on Your Time to Financial Independence (A Tribute to the Value of "The Shockingly Simple Math Behind Early Retirement")
http://radicalpersonalfinance.... download (audio/mpeg, 31.33Mb)

Description:

I spent years consuming personal finance literature and the idea of saving 10 to 20% of my income was hammered into my head. That is the standard percentage that is recommended to be saved by prudent, diligent people.

I took that number with me into my foray into the financial planning world without ever questioning it. But, somewhere around 2011 I had my world rocked by reading Early Retirement Extreme by Jacob Lund Fisker

The most useful concept I took from that book was the huge connection between savings rates and years to financial independence.

For some reason, I never really connected the percentage of my income I was saving to the actual amount of money I had and what I could do with it. Maybe for you it's intuitive, but it wasn't for me.

Consider this. Have you thought about the fact that:

If you save 5% if your income, you can take 1 year off every time you work 19 years. If you save 10% of your income, you can take 1 year off every time you work 9 years. If you save 20% of your income, you can take 1 year off every time you work 4 years. If you save 30% of your income, you can take 1 year off every time you work 2 years and 4 months. If you save 40% of your income, you can take 1 year off every time you work 1 years and 6 months. If you save 50% of your income, you can take 1 year off every time you work 1 year. If you save 60% of your income, you can take 1 year and 6 months off every time you work 1 year. If you save 70% of your income, you can take 2 years and 4 months off every time you work 1 year. If you save 80% of your income, you can take 4 years off every time you work 1 year. If you save 90% of your income, you can take 9 years off every time you work 1 year. 

I never did until I read the Early Retirement Extreme (ERE) book. And it hit me like a lightning bolt.

In the ERE book, Jacob lays out a chart demonstrating the impact of savings rates on the years to retirement and it completely changed my perspective. 

A year or so later the popular finance blogger Mr. Money Mustached published a post called "The Shockingly Simple Math Behind Early Retirement" in which he laid out in chart form the connection between the percentage of income saved and the years to work until retirement.

That chart is powerful.

Since reading that chart I have shared it with dozens of people to empasize the value of controling the major thing they can control, which is their level of expenses.

In today's show I share with you the details of this approach.

Enjoy!

Joshua

Links:  

The Early Retirement Extreme book, my book review on Episode 3 and my interview with Jacob Lund Fisker The Shockingly Simple Math Behind Early Retirement Become a Patron of RPF: http://radicalpersonalfinance.com/patron

336. 162-Teaching Financial Planning as an Undergraduate College Curriculum: Interview with Dr. Nathan Harness, Assistant Professor of Finance at Texas A&M University
http://radicalpersonalfinance.... download (audio/mpeg, 67.04Mb)

Description:

Traditionally, the knowledge and skills of financial planning were learned by financial advisors on the job. Most financial advisors started as either stockbrokers or insurance salespeople and then moved into financial planning simply as an extension of their career. A common educational path was to simply take the state-required insurance licensing courses and the state-required securities licensing courses and then to take further courses (such as CLU, ChFC, CFP, etc.) only after getting started in the career.

That approach is changing. Today, there are dozens of colleges and universities around the country offering formal financial planning educational programs.

Of course, there are pros and cons to either approach. Today, we dig into some of those factors with an in-depth discussion of the academic side to financial planning with Dr. Nathan Harness.

Dr. Harness is an assistant professor of finance at Texas A&M University - Commerce. He received his Bachelor’s degree in finance from the University of Central Arkansas, Master’s degree in finance from Texas Tech University, and Ph.D. in personal financial planning from Texas Tech University.

His research interests include personal financial ratio analysis, household heuristics and wealth accumulation, and individual stock selection.

He has published in Applied Economic Letters, Financial Services Review, International Journal of Business and Finance Research, Journal of Financial Services Professionals, Financial Counseling and Planning, and the Journal of Personal Finance.

Dr. Harness has taught at the University of Georgia – Athens prior to joining TAMU-Commerce and currently teaches graduate and undergraduate courses in the areas of investments and financial management.

Enjoy the show!

Joshua

Links:

Support the show on Patreon! http://radicalpersonalfinance.com/patron Dr. Harness's contact info: http://faculty.tamuc.edu/nharness/

337. 161-A Tribute to Tom Stanley: 10 Major Finance Lessons I Learned From The Author Of The Millionaire Next Door
http://radicalpersonalfinance.... download (audio/mpeg, 56.01Mb)

Description:

I was very saddened to hear on Sunday night that Dr. Tom Stanley, author of the famous book "The Millionaire Next Door" and many others, died in a car accident near his home in Atlanta on Sunday afternoon.

As I reflected on the impact that he and his work had on my life, I came to realize that he probably had a greater impact on my way of thinking than any other personal finance author I can think of.

Not only did he impact my way of thinking, he impacted me personally.

I reached out to him in July of 2009 when I was trying to find resources for how to market my services as a financial advisor to the affluent.

His response was gracious and professional:

--

07/19/09

Joshua,

Can't thank you enough for your kind comments on my blog.  Words like yours sustain me.  Two of the best rated speeches that I have ever given were to The Top of the Table and later at the Court of the Table (as you know part of the Million Dollar Roundtable Association).  Both of those speeches were recorded (audio) and, as I understand it, were distributed by The Million Dollar Roundtable.  I would also suggest that you read the chapter on Beverly Bishop in my book, Millionaire Women Next Door.  And also Selling to the Affluent should be very valuable to you in your work.  I'll know better about my speaking programs in September.  Please continue to check my website for updates.  Regards and much continued success.

Tom Stanley

--

More importantly, he saved me from a very expensive mistake by suggesting a specific car for me to purchase. (Details are in the show.)

--

08/19/10

Mr. Stanley,

One very brief question:  What do you think would be the best kind of car for a financial advisor to drive?

I don't believe in "status" cars.  But I live and work as a financial advisor in West Palm Beach/Palm Beach/surrounding area!  And here, everyone--even/especially the broke people--have status cars.

What should I do?  :)  

Joshua

--

08/26/10

Dear Mr. Sheats:

If I were in your position, I would buy a previously owned Chevrolet Tahoe or the GMC version in white, leather interior with tinted windows!  These cars fit in each and every category of the wealthy.  They are among the most popular cars within the "glittering" rich (very affluent) segments.

Regards,

Tom Stanley

--

His communication was professional, courteous, and emminently helpful. Now that I find myself in the position of a somewhat public figure, I'm striving to emulate him.

I was disappointed not to be able to get him on the show. I had reached out to him for an interview but his schedule didn't allow it at the time. I had hoped to bring him on in the future but alas, 'tis not to be.

In my tribute to him, I have prepared this episode with ten important lessons I learned from him.

I learned who the actual millionaires are. I learned the difference between wealth and income. I learned that it's OK to simply be on the way to wealth and that age matters. I learned to be proud of being frugal. I learned to choose my spouse very carefully. I learned not to go with the crowd. I learned to choose my housing very carefully. I learned that you aren't necessarily what you drive. Millionaires drive Fords. I learned how to prepare my children to avoid Economic Outpatient Care. I learned principles, not rules.

Enjoy!

Joshua



338. 160-Friday Q&A: Career Planning For Ideological Changes and How To Budget for an Irregular Income
http://radicalpersonalfinance.... download (audio/mpeg, 71.53Mb)

Description:

Today on the show, I answer these two questions:

Joshua,

The reason why I am writing has nothing to do with finances, but career advice.  Did you (or do you) provide career counseling?  If not, can you at least recommend someone you trust?  I thought I heard you mention on a previous show that you were involved in that line of work, unless I am mistaken and it was a guest. 

Brief intro: I am 32 years old, a recent MBA graduate, and have a really unique professional background that makes career transitions exceptionally difficult. 

Suppose I were a client of yours who is considering a career change at a radical 50% pay cut.  There are huge financial and emotional considerations at stake.  Would such a career change be consistent with my financial goals?  

I have been working in a specific industry since I started fresh out of college.  I have recently undergone an ideological conversion to a different system of thinking, and now face some cognitive dissonance over what I do for a living and who I do it for.  I want out.  

In fact, this is the reason I went back to school for my MBA a couple years ago.  I thought the MBA might help me push the reset button on my career, but the job market hasn’t been kind to me.  I have applied to all kinds of jobs that I’ve thought were similar enough to the work I currently do.  Unfortunately, I find myself caught between a rock and a hard place: I am too old to be considered for lower-tiered, entry-level positions.  I am also too inexperienced to be considered for more senior or mid-level positions.  I am seen as a liability: recruiters think I won’t last very long if they bring me in at a lower level.  Recruiters think I won’t last very long if I am brought into a new environment or industry.  I am stuck, and I am hoping to speak to someone who can help me do two things:  1) better understand what marketable skills I have in the private sector, and 2) better understand what jobs exist that are the best match for my skills.

And it gets a little crazier: due to Non-Disclosure Agreements I have signed I cannot fully disclose the exact nature of my skills! This is perhaps the real pickle.. which makes this ordeal much harder than it would normally be for other career changers.

What are your thoughts?

-Bill

AND at 51:24

Hey Joshua,

Thanks so much for the show. It has really helped me and my fiance get our finances in order and start us thinking about how we could become financially independent. Even as a Canadian I've gotten a ton out of the show and have tried to hook as many people as I can.

I was wondering if you might be able to touch on tips and tricks for someone who doesn't earn a consistent or regular income. I do video work and while it's consistent right now, I have spent most of my working career either working every day in a month or not working at all for weeks at a time. I was just curious if there might be any wisdom you can impart on those kinds of situations.

Luckily my fiance has a very stable job and makes good money so it gives us the ability to plan at least a bit.

Thanks again for the show, I look forward to it whenever I walk the dog and on the way to work.

-Brendon

Enjoy the show!

Joshua

Links:

SUPPORT THE SHOW ON PATREON http://radicalpersonalfinance.com/patron 48 Days to the Work You Love by Dan Miller. Also, see his website for more products: http://48days.com/ Succeeding by John T. Reed Get a Job, Build a Real Career, Defy a Bewildering Economy by Charles Hugh Smith Choose Yourself by James Altucher

 



339. 159-Financial Planning Isn't Just For Boomers Anymore: Interview with Alan Moore, Co-Founder of XY Planning Network
http://radicalpersonalfinance.... download (audio/mpeg, 61.10Mb)

Description:

The financial planning industry faces many challenges. One of the major challenges has been how to effectively serve younger generations of clients.

My guest today has some ideas on how things can be done better. He set out originally to develop a different model of financial planning practice for himself and wound up creating a company dedicated to bringing the model to the world.

Alan Moore, MS, CFP, is from Bozeman, Montana. He runs a financial planning firm called Serenity Financial Consulting and is Co-Founder of the XY Planning Network.

Enjoy this discussion of:

The challenges and benefits of working with younger clients. New ways to structure a financial planning business. How to build a lifestyle financial planning practice.

Enjoy!

Joshua

Support the show! http://www.radicalpersonalfinance.com/patron Alan's firm: http://www.serenityfc.com/ XY Planning Network: http://www.xyplanningnetwork.com/

340. 158-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 3: Pre-Paid Tuition Plans
http://radicalpersonalfinance.... download (audio/mpeg, 43.16Mb)

Description:

Today, we dive into the details of Pre-Paid Tuition Programs. I'm generally not a fan of these programs and you get to hear why! (I do acknowledge that they have their uses). 

This opinion (my non-fan-ness) has always been a bit challenging since I do financial planning the state of Florida...and Florida has the most popular pre-paid tution program in the country!

But, I still believe I'm right and today, I defend that belief.

Listen to the show to hear:

Why pre-paid tuition programs are in tough financial straits. Why you get a negative nominal rate of return on Florida's program. Why college tuition prices are falling so much even if the official statistics don't reflect the reality.

Enjoy!

Joshua

Support Radical Personal Finance on Patreon: http://radicalpersonalfinance.com/patron Part 1 of this 529 Plan Series: http://radicalpersonalfinance.com/138-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-1/ Part 2 of this 529 Plan Series: http://radicalpersonalfinance.com/154-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-2-savings-plans/

341. 157-Raising Six Kids On The Road: A Long-Term Travel Lifestyle Interview With Greg Denning From Discover, Share, Inspire
http://radicalpersonalfinance.... download (audio/mpeg, 54.95Mb)

Description:

I'm fascinated by long-term travel stories. After all, some people have to wait until they're retired to travel but some people are able to do it long before?

How? Why? What can we learn from them?

My guest today is fascinating. Greg Denning and his wife, Rachel, are living a long-term travel lifestyle. Currently, they're driving from Alaska to Argentina via Europe. Impressively, they're doing it together with their six kids!

Why are they doing it? How are they paying for it?

Tune in to the show to find out!

Joshua

Links:

Greg and Rachel's website: www.discovershareinspire.com

342. 156-Applying Compound Interest To Your Goals: Lessons Learned From the Magic Doubling Penny
http://radicalpersonalfinance.... download (audio/mpeg, 46.93Mb)

Description:

Most of us have heard the example of the magic penny that doubles every day in value for a month. But, have you sat down and looked at that example to really understand what lessons you can apply to your own life?

Today, I share with you 5 lessons I've learned from that example:

1. Rate of return matters

2. Time matters

3. In the beginning, it's easy to spend. That's what most people do.

4. In the beginning, the amount you save matters more than the interest rate.

5. In the end, the interest rate matters more than the amount you save.

Enjoy the show!

Joshua

Links:

Support RPF: www.radicalpersonalfinance.com/patron The Compound Effect by Darren Hardy

343. 155-Bringing Financial Planning to Gen Y: Interview with Sophia Bera, Founder of Gen Y Planning
http://traffic.libsyn.com/radi... download (audio/mpeg, 60.36Mb)

Description:

https://www.patreon.com/radicalpersonalfinance

I don't think it's unfair to say that the financial planning industry is known for being a bit stuffy at times. If you ask an average person what they think of when they think of a financial planner, it's more likely to be an old, white guy in a suit and tie sitting in a mahogany-lined conference room than a young, vibrant lady with a theater and women's studies  double-major. But, perhaps that's changing!

My guest today is Sophia Bera, CFP® and she's shaking up the financial planning industry! Her tagline is "I'm not your father's financial planner." And, she's certainly not. Instead of going after the retiree market, she has chosen to focus exclusively on serving Gen Y clients.

Sophia is part of a new generation of financial planner who is working to bring a different style of financial planning services to a new market.

And, she's doing it on her own terms.

In this interview, we discuss:

Sophia's story and how a non-financial person wound up becoming a financial planner. How financial planning fits into Sophia's ideas for the ideal design for her own lifestyle. Why entrepreneurship is the new job security for millenials. How the financial planning industry is dealing with its reputation of being filled with old, white men.

Enjoy!

Joshua

Links:

Sophia's website: http://genyplanning.com

344. 154-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 2: Savings Plans
http://radicalpersonalfinance.... download (audio/mpeg, 31.93Mb)

Description:

http://Patreon.com/RadicalPersonalFinance

We continue our Masterclass on 529 plans today. If you haven't heard part 1, Go back and listen to episode 138 first. http://radicalpersonalfinance.com/138-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-1/ You'll need it for context on today's show.

Today we dig into more of the how-to regarding savings plans. I also spend a good bit of time explaining the state income tax benefits for you. Depending on your situation, these may or may not be important for you.

Topics:

Which states give a tax deduction for 529 contributions and how much? Which states offer tax parity? How to take advantage of the 529 State Income Tax Loophole. How to figure out if you should take advantage of a plan with lower fees or a plan with a better deduction. Who should own the plan--parents, grandparents, or child? How do 529 plan distributions get reported? What are the best 529 plans to choose for each state? How can you get free money for college?

Enjoy the show!

Joshua

Part 1 of this 529 Plan series: http://radicalpersonalfinance.com/138-masterclass-on-529-plans-a-k-a-qualified-tuition-programs-part-1/ Which states offer a 529 Plan deduction? http://www.finaid.org/savings/state529deductions.phtml Free money for college: http://www.fastweb.com/financial-aid/articles/free-money-for-college-savings Information on Individual Development Accounts: http://cfed.org/programs/idas/ida_basics/ If this information has been useful to you, please support the show on Patreon! https://www.patreon.com/radicalpersonalfinance

 

 



345. 153-The Massive Impact of Conferences on Personal Career and Income: Interview With Michael Kitces
http://radicalpersonalfinance.... download (audio/mpeg, 63.70Mb)

Description:

http://radicalpersonalfinance.com/patron

I had the opportunity to sit down with Michael Kitces while I was in Dallas last week for the Technology Tools for Today conference for financial advisors.

Michael is, in many ways, a conference king. He speaks at 60 to 70 conferences per year. He also writes the most influential blog focused on financial advisors.

What fascinates me is the development of his career. Michael's career developed from very humble origins. He found an area of interest and then applied years of diligent effort. Years later, he has succeeded in raising his personal income by a factor of 10 through the consistent application of some basic principles.

Enjoy this peak into the development of a career and consider how you can apply the same principles to your own endeavors.

Enjoy!

Joshua

Links:

Michael's first appearance on Radical Personal Finance: http://radicalpersonalfinance.com/the-business-of-financial-advice-opening-the-curtain-on-the-history-present-state-and-future-of-financial-advice-with-michael-kitces-rpf0092/ How to increase your income by 1000% over the next decade: http://radicalpersonalfinance.com/rpf-0010-you-are-100-percent-responsible-for-your-income/ Please become a Patron of the show! http://radicalpersonalfinance.com/patron

346. 152-Measuring Your Biggest Asset: The Lifetime Value Of Your Income
http://radicalpersonalfinance.... download (audio/mpeg, 44.45Mb)

Description:

http://radicalpersonalfinance.com/patron

You've probably heard that your income is your biggest and most important tool in your wealth-building toolbox. 

It is. But it's hard to see and feel that when you simply sit down and look at your net worth statement.

Today, I want to share with you a technique that has been useful for me. It's primarily a framing technique: it allows you to actually see the value of your income as compared to your current financial condition.

It's been incredibly useful to me and I hope it's incredibly useful to you!

Notes:

Calculate the lifetime value of your income. Then, think about what you can do to increase that number. There are three primary levers to push: The higher your starting income, the better. Focus on starting from a position of strength (higher wages). Look for high-skill or high-education industries. Focus on a difficult industry. Hard work pays! The higher the annual increase, the better. Build and apply knowledge, skill, and ability. Be in an industry which will reward your increases. Look for big-jump increases by constantly job hunting. Establish yourself as a leader in your industry. Look for industries where competition is low and you can gain a competitive advantage. Look for exponential growth and leverage opportunities. The more years of income, the better. Start earlier. Can you simply get started now without waiting for formal credentials? If it's too late for you to start earlier, can you help someone young start earlier? Work longer. But consider if you'll be able to persist. Look for work that you can do for longer. (Be careful of laboring jobs or mandatory retirement programs.) Look for work that you'll want to do for longer. (Does it integrate with your lifestyle? Do you gain satisfaction and enjoyment from the work itself?) Look for work where your age and wisdom will be an advantage. (Plan ahead for ageism and be prepared to overcome it.) Look for work where your lifetime knowledge and experience will be an asset, not a liability. Your homework: Calculate the expected value of your life's income. Is it enough? Play with the variables and see what kind of alternatives you can create.

 Links:

Patreon Page for Radical Personal Finance Instructional video for how to make an income spreadsheet Bonus episode for Irregulars with details about my Dallas trip

347. 151-Travel Announcement - Flying to Dallas Tomorrow - RPF Meetup?
http://radicalpersonalfinance.... download (audio/mpeg, 4.45Mb)

Description:

Hey amigos,

I've decided last minute to fly out to Dallas, TX tomorrow morning to attend the "Technology Tools for Today" conference for financial advisors.

There may not be a show for the next couple of days. I will do my best to release some shows while I'm there but no promises!

If you're interested in what's happening at the conference, please feel free to connect with me on Twitter https://twitter.com/JoshuaSheats or Facebook https://www.facebook.com/joshuasheats

If any of you listners who are in Dallas would like to meet up while I'm out there, please either email me or reach out on social media.

Thanks!

Joshua

 



348. 150-Building a Career for Yourself By Wearing a Nametag Every Day: Interview With Scott "The Nametag Guy" Ginsberg
http://radicalpersonalfinance.... download (audio/mpeg, 51.05Mb)

Description:

Today's show is a fabulous interview about career creation. My guest is Scott Ginsberg. Scott is most well-known for his love of name tags. He's worn a name tag every hour of every day for 5,241 consecutive days!

This decision was, in many ways, the foundation of his empire. It formed the story for his first book. Since then, he's written a total of 27 books on a variety of topics.

I'm utterly fascinated by Scott's career. You'll hear that in the interview today.

We discuss:

Scott's utter lack of planning for his career? The power of a positive family environment The value of being remarkable Input vs. output vs. throughput The importance of excellence vs. prolificacy

Enjoy the interview! It's super fun!

Joshua

p.s., thank you to each of you who have supported the show so far on our crowdfunding Patreon campaign! We're off to a great start with 15 patrons and $280 per month! Go sign up with at least a $1/mo. pledge and you'll receive access to my brand-new 20-minute video: "A Framework for Wealth."

 

Links:

Scott's website: http://www.hellomynameisscott.com/ Also, http://nametagscott.com/

349. 149-A Brand-New RPF Crowdfunding Campaign! And A Brand-New App For The Show
http://radicalpersonalfinance.... download (audio/mpeg, 39.06Mb)

Description:

http://RadicalPersonalFinance.com/patreon

Today, we launch our brand-new crowdfunding campaign! I've closed the old Irregulars membership program and am replacing it with this new campaign.

Tune in to the show to hear:

What worked well in the Irregulars version 1.0. What didn't work at all. Why I've felt guilty every time I've recorded a show for the last few months. Why I'm launching the new crowdfunding campaign.

Also, we're launching our brand new app! Go get it from the app store and let me know what you think!

Joshua

Links:

Check out the Patreon Page!



350. 148-Save Money By Establishing a Non-Profit Corporation For Your Business Instead of a For-Profit Corporation: Inerview with James O'Neil from Training For Safety
http://radicalpersonalfinance.... download (audio/mpeg, 45.10Mb)

Description:

Have you ever thought about the money you could save if you didn't have to pay taxes on the profits of your business? Might be nice, eh?

Well, have you ever considered establishing a not-for-profit corporation instead of a for-profit company?

Perhaps it might have some advantages for you!

My guest is James O'Neil. James is a former police officer and now is involved in a company called Training For Safety.

Having run both types of companies, James is a great guest to introduce the topic.

Enjoy!

Joshua

Pros and Cons of a Not-for-Profit Entity

Pros

No Corporate Income tax, often no State or Local Income Tax Eligible for Public and Private grants Donations – Cash and Non cash (e.g., batteries) Corporate structure / Liability protection Cost savings – Insurance, business license, business discounts People view nonprofits differently IRS (kinder and gentler IRS) Lots of free or low cost assistance You are a “real” business Volunteers

Cons

Must have a nonprofit goal (charitable, educational, religious, literary, or scientific purpose) Expense to setup (about $1,000) Lots of time to setup (IRS and State forms & waiting for approval) Paperwork (but applying recently got easier) Lack of privacy (tax returns are on Internet) Shared control (Board of Directors, corporate officers)

Book Recommendation:

“How to Form a Nonprofit Corporation” by Anthony Mancuso (Nolo Press)

351. 147-Overcoming Investment Anxiety: Interview With Dr. Alice Boyes, Former Clinical Psychologist and Long-Term Traveler!
http://radicalpersonalfinance.... download (audio/mpeg, 46.76Mb)

Description:

My guest for today's show is Dr. Alice Boyes, former clinical psychologist from New Zealand. She is an expert on overcoming anxiety (her new book "The Anxiety Toolkit: Strategies for Fine-Tuning Your Mind and Moving Past Your Stuck Points" comes out next month). She also happens to be quite tuned in to the financial independence and early retirement lifestyle! She's here today to give us some practical ideas and tools for how we can overcome anxiety about investing.

The conversation includes:

The impact that a fluid mindset vs a fixed mindset can make How to gain investment confidence in simple, small baby steps Tricks for how to get yourself to do what you know you should do.

Enjoy the interview!

Joshua

Links:

Order "The Anxiety Toolkit: Strategies for Fine-Tuning Your Mind and Moving Past Your Stuck Points" on Amazon. TheAnxietyToolkit.com Dr. Alice Boyes' blog posts on Psychology Today AliceBoyes.com

352. 146-Intro to Business Bookkeeping Systems: Interview with Ryan Marquez CPA, MSAT
http://radicalpersonalfinance.... download (audio/mpeg, 76.28Mb)

Description:

Good data is incredibly important to making good financial decisions. If you don't know where you are or where you've been, it's hard to know if you're on track and making measurable progress towards your goals.

Today I've invited Ryan Marquez CPA, MSAT on the show to give an introductory overview. Ryan is an instructor in the Masters of Taxation program at Boise State University. He also runs a bookkeeping and tax business.

Enjoy this introduction to business bookkeeping systems!

Joshua

Show Outline:

Overall Theme Change Your Mind Set on Bookkeeping and Accounting Accounting is the Language of Business Don’t need an accounting degree or CPA designation However, should try to understand basic concepts. Bookkeeping = getting accounting information organized so that you can start to make better decisions about your business. Some information you can get out of good bookkeeping is: Which areas of my business make the most money? Getting a high level picture of expenses so you can analyze and see where costs can be cut. Accounting Needs to Be Simple If you follow one rule… accounting needs to be SIMPLE. Two Reasons: Complicated provides little value. Large spreadsheet hard to process and takes time. Complicated has less likelihood of getting done. Entrepreneurs want to be out running their business, not sitting around doing bookkeeping and analyzing reports. Simple system = less time doing and analyzing numbers. Source of Funds Open Business Checking Account & Credit Card Only run business expenses through this account AND run ALL business expenses through this account. Put business in this account and personal in another account. DO NOT mix the two. The reason you want to do this… Everything is in one place and electronic. Less likely to lose deductions. Everything will be on statements. One can go down and categorize. Avoids having a box of receipts that you have to sort through, figure out what is business vs. what is not, try to make sure nothing is double counted, etc… How to get a business account Go to a bank and open a business checking account and credit card (debit cards are fine… the point is an electronic payment method that will show up on a statement) Will likely need two things: EIN from IRS. Can do online. Will get letter by paper / electronic. SOS documentation. In Idaho, just fill out a one page form. The SOS will stamp and mail back. Avoid Cash I know a lot of people like to use cash. However, I like to recommend not using it for business purposes. The reason I recommend not using cash is. Easy to lose track of. Receipt could get lost, accidentally thrown away. Pay with wrong source of “funds” or “cash”. Main reason is the transaction is never recorded at all. Want an accurate picture of your business. Lose tax deductions. Gets more important if you have multiple businesses. Take what I just mentioned, and multiply it by 2 or 3 times and that’s how complicated it can be. Tough to remember which business it was for. Cash adds complexity to the accounting system. Doesn’t sound too complex, but it’s just one more thing you have to do / remember. When you’re trying to rack your brain to figure out what was paid for… it can get complex, but most importantly it can become frustrating. You’re most likely not going to find cash on a bank statement, which makes it harder. Recording the Transaction Use Accounting Software Such As QuickBooks / FreshBooks You want to do this because… Saves you time. Mainstream accounting software is made for non-accountants to be able to follow and use the software. Use App or Other 'On the Go' Software Easy because you can pull up your phone and categorize transactions on the go. I’ve found people that do this almost feel like they’re not Keep A Balance Sheet The balance sheet is important because in business you're always going to have people that owe you money or people that you owe money to. In addition, you could have sales tax, payroll tax, deposits on hand, etc… that is money you have in your bank account but you'll have to pay to someone else at a later date. A simple excel spreadsheet or even something like Mint that tracks your income and expenses from your bank account won't be able to track this for you For example, if you're thinking about taking money out of the business or getting ready to make a large investment in a piece of equipment or something, you want to make sure that the money is available and that you don't need it to pay sales tax next month or something like that. Some things a balance sheet is helpful for: Record Deposits Correctly Don’t want to record income that isn’t income. Track Accounts Receivable / Payable Want to keep track of who owes you money and who you owe money to. Inventory / Payroll Liabilities / Sales Tax Inventory not an expense when purchased. Payroll liabilities are usually withheld from employee paychecks and need to be remitted to the government at a later date. Sales tax is collected when product is sold and needs to be remitted to the government at a later date. Documentation / Retention Write on Receipts / Invoices Immediately Helps to document the business purpose of the expense and can capture some valuable information that's easily forgotten later. Why is this beneficial? Quickly recall the purpose and payment method for each receipt that you have. Most questions from an auditor or bookkeeper / accountant can be answered by looking at the receipt. Helpful for locating a receipt from a specific transaction in your accounting software. How do I do this? Start to get in the habit of writing on all of your receipts and invoices. You don't need a dissertation for each receipt, just a brief description. An example of a meal receipt could be, "Amanda / Todd / Michelle… discussed the marketing campaign for the XYZ product launch". Create A Filing System Scan All Receipts Electronic system can cut down clutter and could potentially be easier to find something you're looking for. Can be backed up in the cloud or external hard drive in case something happens to the paper file. I see a lot of people wanting to do a bunch of folders to keep their receipts in. Either by year, month, vendor, or what have you. I'm a fan of less folders because for each folder you have, that's one more folder I have to click into to see what's in there if I can't find something. I usually name the PDF by the date (year, month, day) and then the vendor and category. Some apps / software allow you to take a picture of your receipt and link it to the expense. Getting It Done Set Specific Time to do Books Either weekly or monthly. Anything over that it starts to not get done.

353. 145-Brilliant Market Timing or Pure Serendipity? Interview With Nick O'Kelly, Co-Author of Live On The Margin
http://radicalpersonalfinance.... download (audio/mpeg, 70.93Mb)

Description:

My guest today is Nick O'Kelly. Nick is the co-author of Live On The Margin, a book about taking a different approach to regaining control of your time. (We previously interviewed Pat Schulte, his co-author, in Episode 50: "From an $8/hr Job After College to Financial Independence at Age 30 to 10+ Years of Global Travel With Family! Interview With Pat Schulte From Bumfuzzle.com")

Nick is a meteorologist, a pilot, a captain, and an adventurer. He's also a writer, producer, and voiceover artist.

Enjoy this in-depth interview in which we discuss:

Nick's seemingly brilliant timing The advantages and drawbacks of travel How to learn to trade stocks And more!

Enjoy!

Joshua

Links:

Live on the Margin: Learn to Love Risk, Profit From Fear, and Retire Tomorrow Get Her On Board: Secrets to Sharing the Cruising Dream Antifragile: Things that Gain from Disorder The Options Playbook Option Volatility and Pricing

354. 144-Friday Q&A: Can I Retire With $1.4M, What Do I Do With Too Much Cash, and Should I do a Roth 401(k) or Traditional 401(k)?
http://radicalpersonalfinance.... download (audio/mpeg, 41.58Mb)

Description:

Today, I bring to you three very fun but straightforward questions. Here they are:

Question #1: @01:56

Dear Joshua, 

My wife and I are well read in the areas of index fund investing, frugal living, early retirement, and financial independence (including your podcasts).  We have been on the path to early retirement for many years and we think we are there.  We both have high stress jobs and want to quit to raise a child and do whatever interests us whether it brings additional income or not.  We want to have a significant financial cushion, but also don’t want to be so conservative that we work years longer than necessary.  We are worriers and are very conservative in our estimates.

Although we are fairly confident in our calculations for early retirement timing, we hired a fee only financial planner for an outside opinion, and the experience was positive, but we believe the timing recommended was extremely conservative (4 years from now without a child; 5-6 years from now with a child).  We have a very good handle on our spending as we have been tracking it closely for several years.

The financial planner did not seem to understand our frugal lifestyle and rather than reducing our current spending by the “cost of working” that we clearly communicated, he added $15,000 per year to our current spending, which significantly changes the projections for retirement.  The explanation given was to account for “unexpected expenses”, but that amounts to >$20,000 per year in excess of our retirement spending estimate below.  We would be very grateful for your opinion of our plan to retire NOW, given the following data, which we have abbreviated to the most important points.

Ages: Him-45, Her-37

Debts: None (own a house and 2 cars free and clear)

Assets ($1,300,646)
$714,200 – His/Her TSP (Federal 401k)
$347,554 – Taxable Account (Vanguard Index Funds)
$216,165 – Cash/I-Bonds
$22,727 – His/Her Roth IRA
$31,000 – His Pension (starting at age 60)
$6,000 – Her Pension (starting at age 62)
(Minimum of $100,000 net after moving and downsizing our house – not included in assets total above) 

Asset Allocation:
40% Total US Stock Market (Vanguard/TSP Index Funds)
12% Total International Stock Market (Vanguard/TSP Index Funds)
33% Bonds (TSP G Fund)
15% Cash (CDs)

Spending:

Current Spending: $45,000
Retirement spending estimate $37,000
*This is after removing the easily calculated “costs of working” ($10,000 in property tax!; $3,000 in gas!) and adding estimated cost of health insurance ($5000?)
Note: We will be moving from a very high cost area (suburban Chicago) to a very low cost area (rural Florida)

Question #2 @26:20

Joshua,

Came across your podcast and dig the advice/honesty.

I've read numerous articles encouraging the use of fee-based financial advisors but haven't had a lot of luck finding the right person.. discouragement set in after numerous canned responses/what seemed like aggressive sales tactics.

I made somewhat of a half ass attempt in my early 20s with regularly maxing out a roth/always contributing enough to various company 401k to get the contribution match.

I've not paid a lot of attention and recently realized I'm holding roughly 50% of my total assets in a standard savings account yielding only 1%.

Without pulling the actual figures that'd be ~90k in retirement accounts Roth/Traditional rollover and ~90k in straight up cash... terrible I know.

My question is how do i fix/prevent it? I currently have one investment property with a mortgage that's less than what it's leasing for.

I see a couple fix it options:

Buy another house 

Pay down existing mortgage

Invest outside of a retirement account

I believe adjusting my 401k contribution may be a start to preventing it but what about after I max it out?

I don't mind paying for advice but what I really want is someone that's hands on/up to date.. helping me get the most out of my money.

Question #3: @46:37

Joshua

My name is Joe and I’m 24 years old.  I’ve been listening to your show for a while now and really enjoy it, keep up the good work.

My question has to do with whether or not a Roth 401k is the right move for me.  Currently my gross income is $58,616.  This year, I’ve contributed 6% of my AGI into a regular 401k and my employer matches .80 cents on the dollar up to the first 5% of my pay. ($3,517+$2,344 = $5,861)  I also contribute to my Roth IRA and will max it out at $5,500.

My employer just recently began offering a Roth 401k option and my question is whether or not it is the best move for me to make to begin contributing to the Roth vs the regular 401k?  I understand the tax benefits on the front end at my young age and do believe taxes will rise in the future and also that I will hopefully be in a higher tax bracket in retirement than I am now.  In my mind, the advantage of the Roth is the higher contribution limit (18k vs 5,500) but the advantage of the Roth IRA is I have it at Schwab and have lower fees and more investment options than inside my 401k.  I would like to keep my net take home pay the same and am having trouble running the math to figure out which would be the better option.  In addition, I have the option to do a Roth 401k conversion on the $12k that’s in my Regular 401k.  Your advice would be much appreciated.  

About me:

Assets: $27k in Roth IRA, $12K in 401k, $3k in taxable investment acct, $6K in savings acct, $2k in checking acct

Debts: $41,200 Federal Parent PLUS @ 7.65% and $16,500 @ 5.25%. I currently am on the standard repayment plan (10 yrs) and make an extra $100 payment each month on top of that. No credit card debt or any other type of loan, own a 2005 Camry that is paid off.

***

Enjoy the show!

Joshua



355. 143-Intro to Self-Directed IRAs: How to Invest In Real Estate, Tax Liens, Physical Gold and Silver, Structured Settlements, Horses, Livestock, Farmland, Timberland, and More In Your IRA
http://radicalpersonalfinance.... download (audio/mpeg, 79.34Mb)

Description:

I've been looking for an expert on self-directed IRAs to bring on the show and I was thrilled to meet Kirk Chisholm at FinCon last year.

Kirk is an expert in both the self-directed IRA niche and the alternative investments world. His firm, Innovative Advisory Group, helps serve clients in this space with advice.

Self-directed IRAs can be a powerful tool in your arsenal. Just think of the magic of Mitt Romney's $100,000,000 IRA!

When you combine an IRA with alternative investments, you might really be able to work some magic.

What is an Alternative Investment?

Well, right from Kirk's site: "The term “alternative investment” has become a trendy term in the financial services industry to describe new approaches to investing. It is frequently used to describe different asset classes or investment types such as: hedge funds, structured products, managed futures, or even Timber REITs. If you describe traditional assets as stocks, bonds and mutual funds, then by contrast everything else is an alternative investment.

"We look at the term “alternative investments” differently. We take a step beyond the current industry definition and use it to describe assets or investments such as physical real estate, tax liens, physical gold and silver, structured settlements, horses, livestock, farmland, timberland, and more. We would characterize alternative investments as an asset or investment which is: not publicly traded, has a low-correlate to most traditional investments, is too small for institutional investors, is illiquid, is not easily able to be securitized, or is not reliant on the publicly traded markets to be profitable.

"The characterization of what is a suitable asset for diversification purposes is a fluid concept. Some asset classes, which have traditionally provided a low or negative correlation to other assets, have become much more highly correlated since early 2000. Asset classes such as managed futures, timberland, farmland, and certain types of hedge funds in the past did provide a low correlation to the traditional markets, however, due to a higher level of institutional interest in these areas, as well as changing market conditions, they have become more highly correlated to traditional markets. This minimizes the effects of diversification as a risk management tool."

This interview is super fun and super deep.

Enjoy!

Joshua

Links:

Kirk's firm: Innovative Wealth GAO report on multi-million dollar IRAs

356. 142-One Possible Business Model For an Ethical Financial Planning Practice Serving Middle-Income Families
http://radicalpersonalfinance.... download (audio/mpeg, 58.97Mb)

Description:

I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.)

In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating.

Here are my ideas. 

The show includes a discussion of:

The problem of providing planning for middle-income households The idea of a planning model for a monthly fee How to align advisor and client incentives The benefits of a virtual financial planning meeting The importance of having a clear marketing plan for your practice Ideas for building trust The importance of demonstrating expertise The importance of a niche market focus Limitations on income with this model

Enjoy the show!

Links:

XY Planning Network

357. 141-Establishing a Success Mindset In Preparation for Urban Farming: Interview with Curtis Stone
http://radicalpersonalfinance.... download (audio/mpeg, 63.75Mb)

Description:

The most popular episode--by a long shot--of the Radical Personal Finance podcast is Episode 40: "Making $80k on 1/3 Acre With an Urban Farm Without Owning Land? Yes, Please! Interview With Curtis Stone."

Today, Curtis is back for another appearance.

We set out to record a show with a basic overview of how to get into urban farming with some practical steps lined out.

The first step is to get your mindset right. Although our interview got stuck on step one, it wound up being a fascinating discussion of business principles.

We discuss:

Setting intelligent goals for urban farming Focusing on a triple bottom line: 1) economic 2) social 3) environmental The value of education and especially specific, focused education

I hope you enjoy!

Joshua

NOTE: Curtis is on the road over the coming weeks with seminars in Florida, California, Washington, British Columbia and Mexico. Details are here: http://www.greencityacres.com/events/

Links:

Curtis's farm: Green City Acres Curtis's new (future) course: Profitable Urban Farming SoilMate.com: Local Farmers, Local Food Out Of Our Own Backyards: Ooooby app  Genetic Roulette: The Gamble of Our Lives

358. 140-Friday Q&A: Planning Steps When A Spouse Is Planning to Stay Home, Borrowing On A Paid-For House For Real Estate Investment, Pension Plans in an Asset Allocation Plan, and How To Plan Your Life Together After Divorce
http://radicalpersonalfinance.... download (audio/mpeg, 68.90Mb)

Description:

On Fridays, I answer your questions! And, even though this is going out on Monday, I still answer your questions! :)

Today, I handle these four questions:

What practical steps can a couple take when planning for one spouse to stay at home? Is it wise to borrow money on a paid-off house to fund a real estate investment? How should I factor a defined-benefit pension plan into my asset allocation plan? How should I set my personal financial goals and pull my life back together after a divorce?

Enjoy!

Joshua

 



359. 139-My Advice for People Interested In Getting Into Financial Planning
http://radicalpersonalfinance.... download (audio/mpeg, 56.60Mb)

Description:

At this point, I'm honored to get about an email a week from someone asking about how to get into the financial planning business. Sometimes, I get multiple emails in a day!

Here are four examples that I mention on the show today:

Hi Joshua, I consider personal finance and financial planning a hobby and I dole out my amateur advice to friends, colleagues and family. A little bit of background -- I'm 25 years old and currently working as an auditor in big 4 in my third year and I've just been early promoted to Senior Associate.  The thing is I don't see myself auditing forever and I really want to get into financial planning.  My plan is to start taking the courses for the CFP in May/June 2015 after my busy season is over.  I feel secure in my job but I just don't love it.  Do you have any advice for a 20 something wanting to transition to a career in financial planning with zero experience? Hi Joshua, I’m writing because I’d love to get your insight in a career as a financial advisor.  A little background on myself, I’m a 28 year old CPA who has worked as an auditor at a large CPA firm for the past 4 years.  I’ve been thinking about making a career change, and given my interests I’ve begun looking into possibly starting a career as a financial advisor.  I really enjoy the technical side of financial planning, including the tax side of planning, but am also enjoying learning about the investing side as well. In talking with a few other people, I have heard that being a financial advisor is basically a sales job where you are asked utilize your own contacts to push financial products on.  What I have heard is basically the only way to make money is to have rich friends or family to get established.  I really like the fact that I could be helping people, but the cold calling/pushing financial products on people does not sound appealing.   Also, I don’t believe I have the wealthy contacts needed to get established. I would love to get your insight on this matter, and to hear if the stories I hear about careers as a financial advisor are correct.  Additionally, I would love to hear any recommendations you would have for somebody looking to get into a career as a financial advisor. Hi Joshua, In 2013 I became completely obsessed with all things finance. I first picked up books about "stock picking" because I thought that was the way to go, but within a month or two I was recommended The Intelligent Investor, and I've been going with the "boglehead" strategy since then. I have been very lucky in getting a job straight out of college that pays quite well (software industry) and since I started in July 2013 I've saved 70-80% of my take-home income. I figure within 2015 I will become "FI" at age 25. I've been listening to your podcast daily since I discovered it last month, and needless to say it has quickly become my favorite podcast. Keep up the awesome work, I listen to every new episode! I am interested in becoming a fee-only financial planner. Every time I get the opportunity to talk with someone who is also interested in finance (believe me, this is super rare!) I get very excited. Nothing makes me happier, basically. I have a bachelor's degree in Computer Engineering right now. I am wondering, what is the shortest path that I could take to get to the place where I can "hang out a shingle" and start advising people for a small fee? I am not interested in charging for "assets under management"; I simply want to share knowledge with people so they can make their own investments and financial decisions. I want to do the opposite of most advisors basically! I'd be okay charging very little money for just a consultation, because I will be FI. You mentioned in one episode that you got a master's degree in financial planning, and I know you need the CFP certification. With just my bachelor's degree, could I get this CFP and start taking clients? Or would I need other certifications as well? Hi, Joshua, I have realized over time that I am a poor candidate for the traditional early retirement, and instead, would like to focus my next 15-17 years (roughly age 52-67) on doing something that I like--be it an administrator in a medical business that I believe in, being a health coach for middle age guys trying to get back into shape, or opening a gelato shop in my neighborhood. Actually, my dream job would probably be selling tickets in a booth at a ski resort! Maybe later... I have also thought about becoming a personal finance coach or advisor for docs. I see them make stupid mistakes all the time. I could probably do a series of podcasts on stupid things my partners have done. 

It's a great question and there are a bunch of ways to answer it. I decided for today to focus on the big picture answer which is primarily about having a good fit between your skills, your firm, your firm's abilities, and your prospective clients.

I might do another show on the actual steps needed to set up a firm if you want to do it independently.

In this show I go through:

Historical practice models for financial planning Current practice models The importance of sales and sales skills Why you need to know what you bring to the table as a planner The importance of a great marketing plan The importance of a solid transition plan The importance of gaining clarity on what you want to do, who you want to work with, and how you want to work with them

Enjoy!

Joshua

 



360. 138-Masterclass on 529 Plans a.k.a. Qualified Tuition Programs - Part 1
http://radicalpersonalfinance.... download (audio/mpeg, 62.27Mb)

Description:

We're continuing our college series with an in-depth discussion of 529 plans.

529 plans are incredibly popular in all their permutations. (Many people who are currently participating in a 529 plan don't actually realize it because they refer to it as a pre-paid tuition program.)

They're also under attack. President Obama's most recent budget proposal targeted them for change. (It also targeted Coverdell ESAs.)

Personally, I think 529 plans are often misused and mis-applied. The majority of the mass affluent who participate are simply not getting a huge benefit in exchange for giving up the freedom and flexibility of the money.

But, there are a number of things that can be done with these accounts that are really unique.

Enjoy part 1 of our class today and learn:

What the differences are between various types of 529 plans. Who they're a great fit for. How to use them to pay for travel and real estate tax-free. The history of the legislation affecting these accounts.

Enjoy!

Joshua

Links:

A Comprehensive Guide to the Ultimate Education Account a.k.a. the Coverdell Educational Savings Account IRS Publication 970: Tax Benefits for Education

361. 137-Ideas To Make More Money on the Side: Interview with Nick Loper from Side Hustle Nation
http://radicalpersonalfinance.... download (audio/mpeg, 36.59Mb)

Description:

As we rattle around and around the iron triangle of wealth (income, expenses, and intelligent use of the difference), we come today to the topic of income. Specifically, how can you create some extra income?

The world is changing and there are more opportunities to earn some money from a side project than ever before. No longer are you limited to throwing papers early in the morning or delivering pizzas in the evening; now, you can work in all kinds of interesting ways with people from all over the world.

Listen to today's show and enjoy some of the ideas. But, if none of the ideas appeal to you, use them as a jumping off point and create your own idea.

Enjoy!

Joshua

Links:

Nick's list of 86+ different side hustle opportunities. Nick's website and podcast

362. 136-Get Ready for Global Recession and $20/Gallon Gas in 2015!
http://radicalpersonalfinance.... download (audio/mpeg, 37.95Mb)

Description:

We need to get into some economics today and I'm going to do some prognosticating. This is a very rare event on the show, so here goes!

Prediction: there will be a global recession in the future. And gas will go up to $20/gallon.

Now that we have that out of the way, let's talk about what we can do to get ready for it! After all, that's the only thing that likely matters to you or me.

One of the keys to being financially successfully over the long term is to avoid the big mistakes. One big mistake (of many) might be getting laid flat by the coming recession and increase in gas prices.

Today I share with you some thoughts on some of the things you can do today to prepare for this eventuality.

I hope these ideas are useful to you!

Joshua

Links:

"Consumer Prices in U.S. Drop Most in Six Years as Fuel Falls"  "If the Price of Gas Matters to Your Family Budget, You Are Doing it Wrong"

 



363. 135-Be Confident in Your Unique Offering and Then Stick To Your Knitting
http://radicalpersonalfinance.... download (audio/mpeg, 35.69Mb)

Description:

Today's show is a bit of a pep talk--for you but also for me! 

We are taught by society to compare ourselves with other people. Even though we're all supposed to be "unique and different, we're really not. After all, we're measured on our weight as a baby (compared to all other babies), our grades as a student (compared with our class ranking), and the amount of money we make and have (thus defining us as successful)!

Well, let's challenge that a bit. Sometimes we need a reminder to forget about what everyone else is doing and focus on what we're doing and why we're doing it.

Join me today for a bit of a pep talk. I hope you find it encouraging. I was encouraged as I created the show.

Joshua

Here are the influences on today's show:

Farnoosh Toorabi's new podcast. This chapter in Richard Feynman's book: "The Chief Research Chemist of the Metaplast Corporation. Gary North's publication today of his free new book "The Covenantal Structure of Christian Economics."

 



364. 134-Q&A: Incorporating in California vs. Wyoming (or Nevada or Delaware) and How to Decide Asset Allocation for an Investor in Sri Lanka
http://radicalpersonalfinance.... download (audio/mpeg, 50.23Mb)

Description:

Q&A continues with two very interesting questions today:

2:30 "Should I incorporate my business in California or in Wyoming? Also, for my son, should I establish a corporation for my 16-year-old son?" 33:26 "I live in Sri Lanka and have some money saved. How should I decide my asset allocation strategy?"

Enjoy the show!

Joshua



365. 133-Q&A: Paying off Your Primary Mortgage With a HELOC (Mortgage Acceleration) and How Save is My Deferred Comp Program?
http://radicalpersonalfinance.... download (audio/mpeg, 53.42Mb)

Description:

We're continuing our Q&A series this week and today I handle these two questions:

00:01 Melissa heard about an idea of using a HELOC to pay off your primary mortgage as a method of paying off the loan faster and saving interest costs. This was referenced in the book "Master Your Debt" and the website TruthInEquity.com. 38:13 Robert asks about the safety of the deferred comp plan that he and his wife participate in at her Fortune 500 Public Utitlity company.

Enjoy the show!

Joshua



366. 132-Q&A: Thinking Through Buying Life Insurance on Your Kids' Lives and Clarification on 72(t) Substantially Equal Periodic Payments for Retirees
http://radicalpersonalfinance.... download (audio/mpeg, 38.91Mb)

Description:

When I started recording the show, I planned to answer six questions. But, after finishing the first question and realizing how in-depth the show would be if I covered all six in one show, I decided to break it out into multiple shows.

Today, I cover these two questions:

8:41-I'm thinking about buying life insurance on my two kids' lives. What do I need to know? 47:53-Will it work for me to use the 72(t) rules to retire at 50 and then change the payment terms at 59.5?

Notes-Life insurance for kids:

This is one of the most controversial areas in finanancial planning so I'll try to fairly represent the various points of view. It's tough to have a low-key discussion here because it's such an emotionally intense subject. There are three major philosophies that I've discovered: Buy lots of life insurance to protect your investment in your kids. Few people in the US will go for this one; much of the world will understand it though. The reality is more and more of us will in fact be depending on our kids as we age due to many factors including the amount of savings most retirees have and financial challenges facing social security and medicare. Buy just the minimum amount of insurance to cover burial costs. The problem here is that the rich and middle class don't really need it and the poor often don't think of it and can hardly afford it. It's also simply not very high as a priority due to the relatively low risk. Consider this model: http://radicalpersonalfinance.com/do-i-need-insurance-a-mental-model-to-analyze-methods-of-dealing-with-risk-rpf0091/ Buy some insurance for now and as a hedge for the future. Hedge for the future with an Additional Purchase Benefit. How to actually buy the policy? The advice is conflicting. People say to buy term policies for kids. But I've never been able to find a company that will sell a stand alone term product on a minor's life. (Let me know if you know of one, please.) If you're buying a big policy (#1 above) and your child is over 18, it's easy. Buy an Annual Renewable Term policy for them. If you're buying a big policy (#1 above) and your child is under 18, it's harder. If you want to get closer to term coverage, consider a stripped-out universal life policy. If you have the cash flow, go with a traditional whole life insurance contract. Make sure it's a contract that your kid will be happy owning forever. Shop carefully. If you're buying a simple burial policy (#2), do it as a term rider on another policy. You can get these at work, bundled with a banking or property and casualty insurance product, or as a rider on your own term policy. If you're hedging now and later (#3), buy a small whole life policy with an Additional Purchase Benefit. That way as health, hobbies, and occupations change, your child will be able to buy more insurance if necessary. Shop carefully.

Notes-72(t) Calculations

Use this calculator to get an indication of the numbers: http://www.dinkytown.net/java/Retire72T.html IRS info: http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Substantially-Equal-Periodic-Payments

367. 131-Filter Your Financial Advice Through the Lens of Scale
http://radicalpersonalfinance.... download (audio/mpeg, 32.71Mb)

Description:

I read a lot of financial advice from many different perspectices. I also frequently am asked about financial advice. "Is this a good idea?" "What do you think about this investment idea?"

Over the years, I have noticed that I have developed a filter that many people don't have: I view all financial advice through a filtering lens of scale.

When I hear advice, I don't immediately accept is a blanket statement; rather, I think, "what type of household profile would this be appropriate for?"

When I talk to someone who's asking for financial advice, I try to ascertain where they are in their financial journey so I can give them the most appropriate advice.

Having this filter helps me to give advice that matters. It also helps me to coach myself more effectively by identifying where I am in my own journey so that I can focus on the things that are most appropriate for me.

In today's show I share with you many examples, including:

Buying large commercial real estate can be a great investment. But is it right for you? Should you be buying low-dollar mobile homes instead? Investing in low-dollar real estate can be great. But is it right for you? Should you be buying larger commercial projects instead? Investing in stocks of publicly traded companies can be a great plan. But is it right for you? Should you be investing in the tools of your trade or business so that you can be more effective at work? Investing in the tools of your trade or business can be a great idea. But is it right for you? Has it reached the point of diminishing returns and now you'd be better served by investing in the stocks of publicly traded companies to get you closer to your financial goals? Etc.

Enjoy the show!

Joshua

 



368. 130-My Personal Development Plan for 2015
http://radicalpersonalfinance.... download (audio/mpeg, 54.21Mb)

Description:

I like the change of the calendar year. It's a convenient time to sit down and take an inventory of where things are and assess the plans for where things are going.

2014 was an awesome year. It was certainly one of the more challenging times of my life and was filled with change of all types. But it was awesome.

2015 will be transformative. This year, I'll be heavily focused on stepping up my game and making everything I do to be world class.

I have plenty of goals. But for me, the end result of achieving a goal is less important than who I become on the way.

Also, since there's no way for me to achieve a lofty goal without developing as a person, I tend to focus less on the goal or outcome and more on the plan of what I need to learn and who I need to become.

In today's show I share with you some of my areas of focus for 2015 and some of the plans I have for my personal development.

Here are three of my areas of focus for the coming year coupled with some of my action plans for development as an example with resources:

I am a world-class business owner. In order to be a world-class business owner, I need to sharpen and hone my personal productivity skills. Nozbe
Action: Complete their 10-part skills course and program training videos. Evernote
Action: Work through Brett Kelly's Evernote Essentials Book again Gleeo Time Tracker and Alarm Every 15 Minutes Action: Add a careful review of my time usage to my weekly review. Look for items to delegate. Rescue Time
Action: Check to see if it has been improved and if it will serve my needs. In order to be a world-class business owner, I need to strenthen my habits in these areas: Work from a list of prioritized importance. Plan each day's work in advance. Complete my weekly reviews, without exception. Complete my comprehensive monthly reviews, without exception. In order to be a world-class business owner, I need to establish new skills and a new comfort level with outsourcing and team building. I also need to focus on automation and systematization. Chris Ducker
Read Virtual Freedom and implement/test ideas Read his blog archives and implement/test ideas Listen to his podcast archives and implement/test ideas Sam Carpenter
Read Work the System again and implement/test ideas Read his blog archives and implement/test ideas Ari Meisel
Read Less Doing and implement/test ideas Read his blog archives and implement/test ideas Listen to his podcast archives and implement/test ideas Tim Ferris
Read Four Hour Workweek, Four Hour Body, and Four Hour Chef again and implement/test ideas Read his blog archives and implement/test ideas Listen to his podcast archives and implement/test ideas In order to be world-class business owner, I need to build new skills with Wordpress on my site and other aspects of internet business. Wordpress Look for Wordpress training and complete Membership software Look for membership software training and complete Aweber Look for Aweber training and complete Look for email marketing training and complete Screencasts and video production Look for screencast solution and create presentations I am a world-class podcast host. Radical Personal Finance is a world-class financial education resource.  etc... (listen to the show!) 

Enjoy!

Joshua



369. Teaching Canadians to be Financially Independent By Age 45: Interview with Timothy Stobbs, Author of Canadian Dream-Free at 45! RPF0129
http://radicalpersonalfinance.... download (audio/mpeg, 43.38Mb)

Description:

As we begin a new year, I think it's fitting to start with a discussion of financial independence!

My desire for all of you is that you may experience financial independence as you define it and that you may establish a workable plan this year toward its achievement.

Tim Stobbs is right in the middle of his financial independence plan. After stumbling across the idea of early retirement/financial independence, he was awakened to the possibility that an ordinary person could achieve it. 

He set out a plan and started following it. He's now ahead of schedule!

Along the way, he wrote a book to teach others how to accomplish the same goal.

Topics include:

Tim's personal plan Details on how to use Canadian retirement accounts to maximum effect Flexible work schedules and alternative working arrangements How financial independence (even partial) can lead to the easier achievement of other goals How having savings impacts the ability to get better jobs

Enjoy the interview!

Joshua

Links:

Tim's site: Canadian Dream: Free at 45 Tim's book: Free at 45

370. The Financial Advisor Who Can't Retire: Interview with Paul Merriman RPF0128
http://radicalpersonalfinance.... download (audio/mpeg, 38.92Mb)

Description:

My guest today is Paul Merriman. I was introduced to Paul by a couple of listeners who requested I bring him on the show. I'm glad they did!

Paul is an experienced financial advisor. But, he did that as a retirement hobby rather than as a wealth-building strategy.

To build his wealth, Paul took over, built, and then sold a manufacturing company. After retiring in 1982, he proceeded to build Merriman, a Seattle-based investment advisory firm. 

He grew the firm from nothing to $1.6B of assets under management and then sold it and retired to run his financial education site: www.paulmerriman.com.

Topics on this interview include:

The role of goals and affirmations on Paul's journey What it was like to build an advisory firm in the 1980s What Paul's retirement schedule looks like

Enjoy the show!

Joshua

Links:

PaulMerriman.com Paul's Podcast "Six Decisions Every Investor Must Make" - Paul's Article on Marketwatch "10 numbers that can change your life" "Who should retirement investors trust?" "6 steps to the ultimate retirement portfolio" "Retirement savers: Fine-tune your asset asllocation" "30 reasons to fall in love with index funds" "Do you have enough money to retire?"

 



371. Money Advice For Teens: Interview with Eva From Teens Got Cents RPF0127
http://radicalpersonalfinance.... download (audio/mpeg, 29.94Mb)

Description:

Today, I bring you an interview with a dynamo: Eva from TeensGotCents.com.

I met Eva in New Orleans at the FinCon conference. She was attending with her mother and I was incredibly impressed with her.

Eva writes about about personal finance for a teen audience. She began at the age of 15 and she shares her own journey and also gives advice for other young people.

In the interview, we weave two themes:

Eva's advice for teens Eva's own experience/example as a financial blogger

Both of these themes are valuable. Frankly, I'm a bit jealous of Eva's early start in writing about the topics of personal finance. I wish I'd had the foresight to begin at her age.

Listen carefully to the story of her site and consider how you can help your children--or yourself--to start something similar. It's a really neat story.

Other topics include:

Budgeting basics for teens The envelope system The value of attending professional conferences--especially for young people How to teach teens to get jobs

Enjoy!

Joshua

Links:

Eva's blog: Teens Got Cents Spoken Word Performance #1: I Will Not Let An Exam Result Decide My Fate Spoken Word Performance #2: Why I Hate School But Love Education

372. Investing in Sustainability and Weathering the Financial Storms of Life: Interview with Jeff from The Sustainable Life Blog RPF0126
http://radicalpersonalfinance.... download (audio/mpeg, 34.53Mb)

Description:

Personal finance touches every aspect of life by definition. Every aspect of our life involves finance in some way.

As we make the decisions of life, we're constantly faced with cost and opportunity cost:

Is it wise of me to allocate this $100 to a memorable evening's entertainment with my family or to set it aside toward a larger vacation fund? Should I use some extra money to upgrade the look and style of my wardrobe or purchase some extra books or classes to advance my knowledge? Am I better served by investing my money into ownership of publicly traded securities through my 401(k) account or will I get a higher return on my investment by improving the insulation of my house and upgrading my windows to an energy efficient version.

These are ultimately the decisions we face. Culturally, we usually separate these areas of life into different decisions. But we shouldn't. Each of them (and many thousands of additional options) impacts the other. 

We're far better off if we view our life as a web of integrated decisions and we should be able to flow seamlessly among our different options.

My guest today does just that.

Jeff and his wife are raising a young family and are working toward financial independence together. Their personal interest in sustainability and green living has naturaly integrated with their financial planning. DIY activities and home improvement have had benefits in both areas.

Enjoy today's show! 

Joshua

Links:

Sustainable Life Blog

 

 



373. Establishing Rites of Passage to Ease the Transition to Adulthood: Interview with Dr. Vern Poythress RPF0125
http://radicalpersonalfinance.... download (audio/mpeg, 35.67Mb)

Description:

My guest today is Dr. Vern Poythress. Dr. Poythress is a mathematician and a theologian. Most important for this discussion, he and his wife, Diane, are parents to two children, both boys.

Dr. Poythress authored an article entitled "How I Helped My Boys to Become Christian Men," in which he outlined his family's approach to establishing a formal rite of passage for his sons to become men at 12 or 13 years old.

His formal test and qualifications for them included religious training, knowledge, and behavior, specific acts of service to others, and specific areas of wisdom needed in an adult life.

Much of this conversation is built on the Judeo-Christian tradition and Dr. Poythress outlines much of his curriculum from a religious perspective.

It's key to recognize, however, that most cultures have a rite of passage for young men and women; these ceremonies vary and many are cultural, not religious. For example, toward the end of the interview we discuss the tradition of the debutante ball, a "coming-out" party for young women.

If this concept interests you, consider designing your own curriculum based on your family's vision and values. Certainly, anything you intentionally design will be better than the negative rites of passage we currently promulgate in our culture.

Enjoy!

Joshua

Links:

Dr. Poythress's website Dr. Poythress's bibliography "How I Helped My Boys to Become Christian Men

374. Designing Human Habitats for an Abundant Lifestyle: Interview With Ben Falk, Permaculture Designer and Founder of Whole Systems Design RPF0124
http://radicalpersonalfinance.... download (audio/mpeg, 48.78Mb)

Description:

My guest today is Ben Falk. Ben is a really incredible permaculture designer with a comprehensive focus.

Ben runs a planning firm called Whole Systems Design. Through this firm, he "identifies, designs, and develops human habitats - landscape and infrastructure systems - that yield perennial abundance and enduring value. These are adaptive, resilient and secure places in a future of peak oil, climate instability, and deepening economic insolvency."

They also "plan, develop, and manage land-based wealth preservation and security projects for those with the forethought to invest an abundance of present day resources to reduce their familly's vulnerability to future food, energy and other supply-chain disturbances, as well as peak-oil, climatic, economic and other events."

The interview covers a variety of topics, including:

Ben's path from architecture to comprehensive design. How to approach personal lifestyle design from a systems mindset. How to prioritize needs and investment. How he heats his house, heats his water, cooks his food, and dries his clothes in Vermont with a very small amount of wood. How he grows 80 to 90% of his food intake.

My favorite quote from the interview: "Don't fight something that's wrong. Make a new system that makes the old system obsolete."

Enjoy!

Joshua

Links:

Whole Systems Design The Resilient Farm and Homestead: An Innovative Permaculture and Whole Systems Design Approach by Ben Falk

375. Friday Q and A: Resources for the Executor of an Estate, Specialization vs. Generalization, Advice for Transitioning to a Single-Income Family RPF0123
http://radicalpersonalfinance.... download (audio/mpeg, 51.03Mb)

Description:

On Fridays, I answer your questions! I decided I didn't want to handle any of the in-depth, math-related questions today so I chose these three questions to handle.

1:41 - What can I do to prepare for being the executor of someone's estate? 16:49 - How can I reconcile the idea of being a specialist in my field with the advantages of being a generalist? 48:09 - What can I do to ensure a smoothe transition to a single-income household?

I hope you enjoy the show!

Joshua

Links:

NOLO: The Executor's Guide for Settling a Loved One's Estate or Trust

376. Geo-Arbitrage and Expatriation for a Better Life: Interview with James Wesley, Rawles of Survival Blog RPF0122
http://radicalpersonalfinance.... download (audio/mpeg, 37.39Mb)

Description:

Today, we welcome Jim Rawles, Founder and Editor of SurvivalBlog.com back on the show to discuss improving your lifestyle and personal resilience by moving.

We talk about optimizing your lifestyle within the United States by carefully selecting your location as well as the pros and cons of international expatriation.

Topics include:

Ideas for playing the "State Line Jumping Game" (living in a no-income-tax state and shopping next door in no-sales-tax state). Brief mention of the "Five Flags Theory." In essence, the idea is that you can arrange your affairs over five different countries: Flag 1: Business Base-These are places where you make your money. They must be different from your personal fiscal domicile, the place where you legally reside. Flag 2: Passport & Citizenship-These should be from a country unconcerned about offshore citizens and what they do outside its borders. Flag 3: Domicile-This should be a tax haven with good communications. A place where wealthy, productive people can be creative, live, relax, prosper and enjoy themselves. Such a place should not be threatened by war or revolution and preferably should enjoy good levels of banking secrecy. Flag 4: Asset Repository-This should be a place from which assets, securities and business affairs can be managed anonymously by proxy. Flag 5: Playgrounds-These are places where you would actually physically spend your time. Jim's idea for "The American Redoubt" The Free State Project and Free State Wyoming Estimate your own tax savings with SaveTaxesByMoving.com Considerations for international expatriation: taxation, language skills, friendly to foreigners, strength of the economy, crime rate, climate and lifestyle, gun laws, homeschooling laws. etc/ Discussion of Finland, the Philippines, Swizerland, New Zealand, Belize, Costa Rica, Panama, Chile, Argentina, Paraguay, Uraguay For more information check out the Sovereign Society and International Living For a Second Passport opportunity, consider St. Kitts and Nevitts Check out Jim's novel: Expatriates

Enjoy!

Joshua



377. Last-Minute Tax Planning Ideas To Save You Money RPF0121
http://radicalpersonalfinance.... download (audio/mpeg, 54.32Mb)

Description:

Today on the show, I've got some last-minute tax planning ideas for you. These are all ideas and tactics that you can use in the last two weeks of 2014 to lower your income tax bill.

I hope you don't defer your tax planning to the end of December. The end of the year is far too late to start talking about the really good stuff. Good tax planning should begin before January 1.

But, these types of ideas can still be useful for you. It's possible that you've simply been too busy to do effective planning.

It's also possible you had an unexpected windfall and you need to wipe out some tax liability.

I'm here to help! :)

Let's start with the easy ones and move to the harder ones:

Last-minute retirement account contributions. 401(k)s and 403(b)s are tough becausec you have to have made your contributions as you go. Consider talking to HR about diverting a bonus check into the account if you can. IRAs are simple. You can contribute any time until you file your return. You can contribute up to $5,500 in 2014. Don't forget about the $1,000 catch up if you're older than 50. Almost everyone I've ever worked with is confused by the contribution limits. Read them for Roth IRAs and Traditional IRAs. Little tricks for IRAs: You can make a separate payment for custodian fees, brokerage commissions, etc. in excess of the contribution limit. That will allow you to get the maximum value from the account. Consider establishing a an HR10/Keogh Plan or a SEP IRA. Keogh plans were very popular for self-employed people prior to 2001. There was a tax law change in 2001 and now they're largely replaced by SEP IRAs. They have the same contribution limits but the SEP paperwork is much simpler. A Keogh plan has to be established by the end of the year but it can be funded prior to filing your return. A SEP IRA can be established after the end of the year and funded after the end of the year.  The maximum contribution is the lesser of 20 percent of earned income, less your deduction for half your self-employed payroll tax, before the deduction, or $52,000. (This winds up being 25% of net earned income after the deduction.) Remember that you can have one of these plans in addition to a 401(k) and an IRA. Don't forget about the HSA. If you're covered by a HDHP, you can make your HSA contributions any time up till you file your return. Your contribution limits are $3,300 for an individual and $6,550 for a family. Remember also that there's a $1,000 catch-up contribution for 55+. This won't save you on your employment taxes but it will save you on your income taxes. One final little trick on IRAs. Look to see if you'll be eligible for a saver's credit. If you're at a low income level, this might help you...even if you can't afford to save for retirement. If you need to and you want to be aggressive, you can contribute to your Roth in December, take the savers credit on your return, and then take the distribution in January. (You'll owe tax on any gain but not on the contributions/basis.) Consider deferring your income in other ways. You can enter into a binding agreement until January to defer the grant of a bonus that you would otherwise receive in December. You need to enter into the agreement before the bonus is "constructively received." The easy way to defer your income is if you are in business for yourself is to simply delay billing your clients until late December. You won't receive payment until the following year. Thus, no taxes in this year. Remember that this only works if you are a cash basis tax payer. If you are an accrual basis taxpayer in your business, you have to report the income when it is earned, not when it is received. If you have income from the sale of property, consider using an installment sale to defer income to a different tax year. Consider accelerating your expenses to lower your net income. In business, you can think through any end-of-year transactions you need to pay: accounts payable, conference fees, insurance premiums, marketing and advertising expenses, etc. Remember that you have to follow the 12-month rule. Consider buying equipment. In general, equipment will primarily be depreciated rather than expensed. But remember that you can make a Section 179 elect to expense up to $500,000 and then take your depreciation after that. Consider bunching certain expenses such as medical expenses. If you've had a lot of medical expenses this year, consider going ahead and getting your dental expenses and eye expenses taken care of and pay forward the annual premium on your LTC insurance. That may result in enough deductions to take advantage of the medical expense deduction. Consider accelerating your tax payments: real estate taxes, personal property taxes, and state and local income taxes. Pay them now to take the deduction. (Be careful of AMT.) Consider making your charitable contributions and make sure to bunch them in years that you can fully use them. If you're making charitable contributions, be smart about how you do it, especially with regard to your taxes. Don't only think in terms of cash. If you have appreciated property that you've held over 12 months, contribute it to the charity and take a deduction for the FMV. (Avoids the tax on the gain.) If you have loss property, sell it, take the tax loss and give the cash. You can take deductions for items paid by check in the current year even if you mail the check on New Year's Eve, as long as there is no reason why the check can't be cashed in January. Credit card charges can be taken this year even if you don't pay the bill until next year. Think through the tax ramifications of your relationships. If you're planning an end of the year or New Year's day wedding, calculate your taxes and see when you should actually schedule the marriage. Doesn't have to be the same day necessarily as the wedding itself. In general, marriage will only cut your taxes if one spouse works or earns almost all the income. Marriage will actually boost your taxes if both spouses work and earn good income. Dependents: Most people think purely about kids. There might be a planning scenario involving them. For example, if you're having a planned C-section and the safe zone covers new years, have it on 12/31. Or, if you're adopting, try to get it finalized before the end of the year. But, the major benefit for some of you might be if you're caring for parents. There are a bunch of detailed rules. The one I want you to focus on is if you're providing more than half of a dependent's support. Doesn't mean income...it means support. Might be worth it to bunch some of your support here at the end of the year so that you can claim them as a dependent. Make sure you harvest your tax losses but also that you harvest some gains. Ratcheting up your basis in your investment portfolio over time can really save money in the long run.

378. Getting a Designer Education on the Cheap: Interview with Scott Young, Inventor of the MIT Challenge RPF0120
http://radicalpersonalfinance.... download (audio/mpeg, 48.45Mb)

Description:

Is education something that we buy or something that we work for? Ever thought about that?

My guest today is Scott Young. I first heard of Scott when I watched his TEDx talk on "How to Get an MIT education for $2,000."

This interview is filled with tidbits that will be useful to you whether you're designing your own education or whether you're helping someone else with their educational plan.

Enjoy!

Joshua

Links:

ScottHYoung.com

379. Building Wealth One House at a Time: Interview with John Schaub RPF0119
http://radicalpersonalfinance.... download (audio/mpeg, 47.54Mb)

Description:

I love real estate investing. I think it's one of the most accessible, realistic ways for people to grow their long-term wealth at an excellent rate of return.

Today, I'm thrilled to bring you an interview with John Schaub. John is widely renowned as one of the good guys.

John has been investing in real estate for decades. He's also been teaching the subject for decades.

He has a wealth of ideas and knowledge to share with us today.

Enjoy!

Joshua

Links:

JohnSchaub.com John's Seminars John's recommended authors: Bill NickersonJay DecimaZuckerman (?), Al LowryDonald TrumpRobert AllenRobert Bruss

380. Friday Q and A: Cash Houses vs Mortgages, Speculative BioTech Stocks in an ESA, Physician Private Practice vs Hospital Job, Accounting for Business Deductions, Multi-Family Living, 529 Plan Qualified Expenses, Inflation Rates, Gifting Money to Kids RPF018
http://radicalpersonalfinance.... download (audio/mpeg, 80.54Mb)

Description:

Today, we have a really fun Q&A for you! I hope you enjoy!

Here are the questions I answer:

2:25 If I have the cash, should I pay cash for a house or invest it? 17:13 Should I use my Coverdell ESA to speculate on early-stage biotech stocks? 28:05 Should a physician try to continue a private practice with a partial ownership interest or take a full-time hospital job? 40:38 How can I account for the business deductions in my side business? 49:40 Is multi-family, multi-generational living a good idea? 1:03:40 What do I need to know about disability income insurance? 1:26:03 Which college expenses can I pay for out of my 529 account? 1:33:27 Why do I use different inflation rates on calculations? 1:39:26 What kind of account can I use to gift money to my nephew?

Enjoy!

Joshua

Links:

Lower Your Taxes Big Time! by Sandy Botkin

381. Transitioning From Personal Finance Blogger and Writer to Financial Advisor from a Canadian Perspective: Interview With Dan Bortolotti, the Canadian Couch Potato RPF0117
http://radicalpersonalfinance.... download (audio/mpeg, 52.90Mb)

Description:

Today, I have a really great interview on finance from a Canadian Perspective. But make sure to listen whether you're Canadian or not.

My guest is Dan Bortolotti, founder of the Canadian Couch Potato website. He has a really great story where he began as a personal finance writer and blogger and later moved into the space of being a professional financial advisor.

We chat about:

The value of a paying fees to a financial advisor The fit between PF writer and advisor Canadian tax law and retirement accounts Indexing from a Canadian perspective and similarities to the US market Home country bias And more!

Enjoy!

Joshua

Links:

Canadian Couch Potato Dan's DIY Investor Service

382. How to Set and Achieve Your Financial Goals in 2015 and Beyond RPF0116
http://radicalpersonalfinance.... download (audio/mpeg, 52.56Mb)

Description:

The new year is fast upon us. Even though we're in the midst of the busy holiday season, this is a convenient time to consider the success and failures of this year and look forward to plans for next year.

Even though the articles you're now seeing in your feeds on "10 End-Of-The-Year Planning Ideas" can be useful, they just don't get it done because they're not focused on the core need.

The fundamental key of financial planning is to understand the process. Building wealth is a process. Achieving goals is a process. It's simple and can be readily replicated if you understand it.

It starts with a clear desired outcome. A.K.A. a goal. Or objective.

Then, it's a matter of laying out a strategy that is likely to work. And that strategy is connected with specific action steps.

And then you simply repeat the cycle over and over and over again.

Enjoy the show. I hope that it's useful for you!

Joshua

p.s., this might be a great show to share with others. Let me know if it's helpful.

Potential Journaling Prompts:

Simple Goals:
What are 10 goals you'd like to accomplish during 2015?
 
What I Want list
Make a list of 30 things you want to do, 30 things you want to have, and 30 things you want to be before you die.
 
Ideal Day
Think through what a perfect day would look like for you. Describe it (in writing) with as much detail as possible. Where are you, what does it look like, who are you with, what do you do, etc.
 
Strategic Coach Questions
1. If we were meeting three years from today, what has to have happened during that three-year period for you to feel happy about your progress? (Personally, Professionally, Financially and any other category you want to think about.)
 
2. What are the biggest dangers you'll have to face and deal with in order to achieve that progress?
 
3. What are the biggest opportunities that you have that you would need to focus on and capture to achieve those things?
 
4. What strengths will you need to reinforce and maximize, and what skills and resources will you need to develop that you don't currently have in order to capture those opportunities?
 
Visioning Exercise (excerpted from Jack Canfield's "Success Principles" book
This is an exercise that is designed to help you clarify your vision. Although you could do this as a strictly mental exercise by just thinking about the answers and writing them down, I want to encourage you to go deeper than that. If you do, you'll get deeper answers that serve you better.
 
Start by putting on some relaxing music and sitting quietly in a comfortable environment where you won't be disturbed. Then, close our eyes and ask your subconscious mind to give you images of what your ideal life would look like if you could have it exactly the way you want it, in each of the following categories.
 
1. First, focus on the financial area of your life. What is your annual income? What does your cash flow look like? How much money do you have in savings and investments? What is your total net worth?
 
Next...what does your home look like? Where is it located? Does it have a view? What kind of yard and landscaping does it have? Is there a pool or a stable for horses? What color are the walls? What does the furniture look like? Are there paintings hanging in the rooms? What do they look like? Walk through your perfect house, filling in all of the details.
 
At this point, don't worry about how you'll get that house. Don't sabotage yourself by saying, "I can't live in Malibu because I don't make enough money." Once you give your mind’s eye the picture, your mind will solve the “not enough money” challenge.  
 
Next visualize what kind of car you are driving and any other important possessions your finances have provided.
 
2. Next, visualize your ideal job or career.  Where are you working?  What are you doing? With whom are you working? What kind of clients or customers do you have? What is your compensation like?  Is it your own business?
 
3. Then, focus on your free time, your recreation time.  What are you doing with your family and friends in the free time you’ve created for yourself?  What hobbies are you pursuing?  What kinds of vacations do you take?  What do you do for fun?
 
4. Next, what is your ideal vision of your body and your physical health?  Are you free of all disease?  How long do you live to?  Are you open, relaxed, in an ecstatic state of bliss all day long?  Are you full of vitality?  Are you flexible as well as strong?  Do you exercise, eat good food, and drink lots of water?
 
5. Then move on to your ideal vision of your relationships with your friends and family.  What is your relationship with your family like?  Who are your friends? What is the quality of your relationships with your friends?  What do those friendships feel like?  Are they loving, supportive, empowering?  What kinds of things do you do together?
 
6. What about the personal arena of your life?  Do you see yourself going back to school, getting training, attending workshops, seeking therapy for a past hurt, or growing spiritually?  Do you meditate or go on spiritual retreats with your church?  Do you want to learn to play and instrument or write your autobiography?  Do you want to run a marathon or take an art class?  Do you want to travel to other countries?
 
7. Finally, focus on the community you live in, the community you’ve chosen.  What does it look like when it is operating perfectly?  What kinds of community activities take place there?  What about your charitable work?  What do you do to help others and make a difference?  How often do you participate in these activities?  Who are you helping?
 
You can write down your answers as you go, or you can do the whole exercise first and then open your eyes and write them down. In either case, make sure you capture everything in writing as soon as you complete the exercise.


383. Helping Your Kids Develop Talent (So You Don't Have To Support Them Forever): Interview with Jonathan Harris from 10kToTalent RPF0115
http://radicalpersonalfinance.... download (audio/mpeg, 71.74Mb)

Description:

Financial Planning is--and should be--fully integrated with every aspect of life. Often, there are non-financial ways of hitting financial goals that are more efficient than just simply "buying the solution."

Helping your children develop their talent is one such area of focus. If you can launch a young man or woman with real, useful skills that have an economic value in the marketplace and which are aligned with their individual personality and interests, they will be far ahead of many of their peers.

This early start can launch the magical cycle of compounding earlier which can have a lifetime impact. 

Consider the impact of an early start:

If a 16-year-old can learn to earn and invest $100 per month through developing and marketing their talent, they could accumulate a nest egg at 66 of $1,746,876.07. (50 years of investing, $100/mo each month, 10% interest compounded monthly, starting with $0.) If a 22-year-old begins when they graduate college, they will wind up with $955,649.56 at age 66. (44 years of investing, $100/mo each month, 10% interest compounded monthly, starting with $0) 

My guest is Jonathan Harris and he writes at the website www.10kToTalent.com. He is the father of 8 children and is a both a learner and an expert at developing talent in children.

Enjoy the interview!

Joshua

Links:

Jonathan's website: 10kToTalent.com Jonathan's guides on helping children discover talent Jonathan's 13-year-old son's website: Scarab Coder Jonathan's 17-year-old son's website: Redding Drone

 



384. Little Known History of the ER Movement: Interview with Doug "Nords" Nordman RPF0114
http://radicalpersonalfinance.... download (audio/mpeg, 49.68Mb)

Description:

Doug Nordman is a really neat guy who has made an incredible contribution to the Early Retirement (ER) community. Known affectionately in various forums as "Nords," he contributes a rational, learned perspective on financial topics.

He and his wife both retired from the US Navy. Doug was 41 and has somehow managed to stay retired for the last decade. ;)

Join us today for a really neat discussion of the history of the early retirement movement and some of the contributions from its early leaders.

(It's not all fun and games...we do get into some technical details on early retirement as well!)

Joshua

Links:

Doug's website: The Military Guide Cashing In On The American Dream by Paul Terhorst Early-Retirement.org RetireEarlyHomepage.com Yahoo article on Anton Ivanov (who lied about financial independence plan) "The Millionaire Liar" - Article from the original PF blogger who publicized his story The Hapless Y2K Retiree

385. Friday Q and A: Professional Trustees, Tax Saving for Resident Physicians, All Stock Asset Allocations, Can I Afford to Retire, How to Find a Good Financial Advisor, Funding an ESA With Real Estate RPF0113
http://radicalpersonalfinance.... download (audio/mpeg, 74.39Mb)

Description:

It's Friday! That means a Q&A show for you. Today, I answer all of these questions.

Here are the questions and the time stamp for where each can be found in the episode.

Enjoy!

Joshua

10:00 - Brandon: How do I convey our financial information to my executor if my wife and I die? Should I have my testamantery trust managed by a professional trustee? 29:43 - Kyle: How do I save money on taxes as a young, single physician resident? 54:01 - Daniel: Is it ok for a young person to have a 100% stock allocation? 1:02:44 - Greg: I have $2.5M, can I afford to retire? 1:10:44 - John: How do I find a good team of advisors? 1:28:00 - Tom: Could I take a loss on a house I transfer into an ESA and then get the gain out tax-free?

Links:

Last Pass Password Gorilla Save Taxes By Moving Step Transaction Doctrine Substance Over Form Garrett Planning Network XY Planning Network

 



386. Reasons to be Optimistic About the Present and the Future RPF0112
http://radicalpersonalfinance.... download (audio/mpeg, 37.21Mb)

Description:

In today's world, it's easy to find reasons for pessimism. And yet, we truly live in a time of greater abundance and quality of life than ever before.

Join me today as I share some reasons for being thankful and grateful to be alive today. It's a good time to be alive.

Joshua

Links:

Ericsson Mobility Report for November 2014 How Fast is 5G?

 



387. Buying A House Debt-Free...In Your 20s! - Interview with Steve Maxwell RPF0111
http://radicalpersonalfinance.... download (audio/mpeg, 76.02Mb)

Description:

Today we have a really fun interview with Steve Maxwell.

Steve is the father of eight and his three oldest sons have all purchased their houses debt-free, in their 20s, and before marriage! His younger two sons have the same vision and are on track for a similar result.

How cool is that?!

Steve is an electrical engineer by training. He left his engineering job however and now spends his time writing books and traveling the country speaking and encouraging others with his ministry organization, Titus 2.

Enjoy!

Joshua

Links:

Buying a House Debt-Free on Titus2.com The Maxwell Family blog

388. How to Live Without A Car Even With Two Kids! Interview with Christopher DeLaney RPF0110
http://radicalpersonalfinance.... download (audio/mpeg, 45.93Mb)

Description:

Today, I have a really great show for you with Christopher DeLaney. Christopher and his wife have two little kids and they maintain a modern lifestyle without a car! Impressive!

Christopher is gentle, unassuming, knowledgeable, and very helpful!

Enjoy this interview!

Joshua

Links:

Article about Christopher and his family on Bike Portland Interview with Christopher and his wife on the Sprocket Podcast Pictures of a "Bakfeit" bicycle

389. A Comprehensive Review and Critique of "Money: Master the Game" by Tony Robbins RPF0109
http://radicalpersonalfinance.... download (audio/mpeg, 148.91Mb)

Description:

Well, it took a few days longer than I planned because of the fact that its 600 incredibly dense pages, but today I share with you my review and critique of Tony Robbins' new book.

This was a very challenging project for me and frankly, it simply bogged me down in research.

It's really a great book. Highly recommened. But, it also has some things I'm not imporessed with and some minor and major flaws.

The show is long and in depth and my comments are organized around these themes:

Intro & Preamble Summary of the general layout of the book (16:40) Things this book does really well Major Lessons I Learned (1:52:23) Minor and Major Flaws in the book (2:02:00)

I hope you enjoy!

Joshua

Links:

Money: Master the Game on Amazon The book website How Money Walks List of Tax Expenditures The 2014 Investment Company Institute Fact Book Financial Planning Association study (46% of financial planners don't have a retirement plan?) Wealthy people are less likely to retire?

390. Achieving the American Dream? Yes, It Is Still Possible! Interview with Mark and Lauren Greutman from I Am That Lady and The Simpler Happier Life Podcast RPF0108
http://radicalpersonalfinance.... download (audio/mpeg, 65.35Mb)

Description:

In our current culture, it's easy to become discouraged and feel as though the American Dream is out of reach for the common person. Is it easier to achieve now than in the past? Is it harder? Let's leave that debate for another day. Frankly, it doesn't much matter in your individual situation.

What does matter is whether it's possible to improve your circumstances and to pursue your version of happiness.

My guests today are proof that the American Dream is alive and well for some people.

In many ways, Mark and Lauren Greutman embody an oft-repeated scenario. Married young, four small kids, strongly middle class circumstances, mild to moderate overspending and being stuck in circumstances that felt beyond their control.

And yet, a few years after their wakeup experience, they're in a very different place.

Mark recently left his job in the corporate world and he and Lauren now work together in the family business.

Many of the tools we talk about each day in the show were instrumental in their journey and you'll hear how they are all interwoven.

Enjoy!

Joshua

Links:

IAmThatLady.com MarkandLaurenG.com Mark and Lauren's podcast: The Simpler Happier Life Lauren's book: "How to Coupon Effectively"

 



391. A Comprehensive Guide to the Ultimate Education Account a.k.a the Coverdell Educational Savings Account RPF0106
http://radicalpersonalfinance.... download (audio/mpeg, 104.05Mb)

Description:

Today, we take a look at one of the most misunderstood and underutilized accounts in your tax-planning aresenal.

The Coverdell Education Savings Account can be incredibly useful as a tool for you to pay for:

elementary school expenses secondary school expenses homeschool expenses (in some states) college expenses vocational school expenses and more!

Perhaps more importantly, there are very few things you can't use as an investment in the account. You can choose to invest in:

real estate notes tax liens companies  precious metals etc.

But what about the income limitations? Meaningless. You can circumvent them so easily they're utterly meaningless.

This account is constantly criticized as being useless. Check out my discussion of the details and see if it deserves the criticism.

Enjoy!

Joshua

Links:

IRS Publication 970: Tax Benefits for Education Estate and Gift Tax Treatment of a Coverdell Account

392. Radical Immediate Retirement: Escape the Soul Crushing Horror of Your Job Right Now? What Could Happen if you Just Chucked it All and Quit? RPF0107
http://radicalpersonalfinance.... download (audio/mpeg, 57.58Mb)

Description:

My guest today is David Downie, an attorney from Australia. David found himself stuck in the middle of his career, frustrated at life and simply decided to quit without much of a backup plan. 

Many adventures have ensued!

Since that time, David has:

Written children's books Contributed to the book 1001 Beers You Must Taste Before You Die Travelled Written a book on Radical Immediate Retirement

The interview is thought-provoking in every way!

Enjoy!

Joshua

Links:

DavidJDownie.com - David's site about his children's books. Radical Immediate Retirement - the site and the book InteraliaPublishing.com - David's site on publishing AustralianBeers.com - David's beer review project The Secret Life of Bosses - story about David in the Sydney Morning Herald

393. The Benefits of Minimalism as a Financial Plan: Interview about Living Car-Free and in Tiny Houses with Tammy Strobel from Rowdy Kittens RPF0105
http://radicalpersonalfinance.... download (audio/mpeg, 46.01Mb)

Description:

What can you do if you're feeling a bit stuck financially? Basically stuck in the rat race? Expenses about equal to income and some debt hanging on?

Well, one strategy you could pursue would be to dramatically reduce your expenses by getting rid of your stuff, downsizing into a "tiny house," and getting rid of your cars.

Today's guest did that! And it ultimately led to her being able to build a lifestyle of financial freedom through entrepreneurship.

Tammy Strobel has a Bachelors of Arts in Economics, a Masters degree in Public Administration, and a Masters of Arts in Education. 

Before starting her micro-business in January of 2010, she worked in the investment management industry and in the social service sector as a peer counselor. 

As an entrepreneur, she sustains herself through writing, photography, and teaching. Over the last two years, hundreds of students have taken her e-courses to explore photography, writing, and what it means to make time and space for what matters. 

Enjoy the show!

Joshua

Links:

www.RowdyKittens.com To explore Tammy's content, start here For info on Tammy's Tiny House adventures, go here

394. How to Get Money Out of Your Retirement Accounts Before 59.5 for Early Retirement RPF0104
http://radicalpersonalfinance.... download (audio/mpeg, 86.14Mb)

Description:

I've done a number of interviews on the show with early retirees and early retiree hopefuls. One common theme is that many of them are using traditional retirement accounts but are planning to retire before 59.5. 

How is that possible without paying a bunch of penalty tax?

Today, I share with you the answer to that question.

They may not actually take distributions from the retirement accounts.  They might pay the 10% penalty tax because it's cheaper than the alternative. They might do a Roth Conversion Ladder They might use the 72(t) SEPP rules.

Enjoy the show!

Joshua

Links:

New York and California state income tax rates. Dinkytown 72(t) calculator Kitces article on Bobrow v Commissioner

395. Friday Q and A: Retirement Distribution, Life Purpose, Re-Balancing Bond Funds, Pre-Paying Mortgages, Paying off CC Debt, Applying the Trivium to a New Job, Dental Insurance, and Switching Custodians RPF0103
http://radicalpersonalfinance.... download (audio/mpeg, 50.98Mb)

Description:

It's Friday! Today, I have a Question and Answer show for you and I've decided to handle a bunch of your questions. I felt like I cheated you last week by only answering 3 questions.

(6:27) How do I calculate a portfolio distribution amount that retains 50% of my portfolio at my death? (20:31) Is it ok to keep money in cash or do I need to invest right away to start getting compound interest? (40:21) How do I rebalance my accounts to get a proper bond allocation? (52:28) Should I pre-pay my mortgage in a lump sum or should I invest the money and then make extra monthly contributions? (1:02:12) I have an unpaid medical bill and CC debt. What do I do? (1:12:04) How do I apply the trivium method to a new job? (1:30:01) Any tricks for how I can pay for a big dental bill in a better way? (1:42:25) How do I figure out whether I should switch custodians for my investment accounts?

Enjoy!

Joshua

Links:

IRS Publication 502

396. Survivalism As a Financial Plan: the Tactics for "Surviving the End of the World as We Know It" Applied to Modern Life - Interview with James Wesley, Rawles RPF0102
http://radicalpersonalfinance.... download (audio/mpeg, 56.68Mb)

Description:

There's a lot of interest in our current-day world with the ideas of survivalism and prepping. One visit to your local bookstore's magazine rack will illustrate this to you.

Economic recessions and depressions, market instability, political gyrations...all of these things contribute to a general sense of unease for many people.

What could we learn about financial planning if we applied the mindset of a survivalist to our current reality?

I'm thrilled to bring you an interview today with James Wesley, Rawles. James literally wrote the book on how to survive the end of the world as we know it, among others.

Jim has authored 6 books on the topics of modern survivalism:

How to Survive the End of the World as We Know It: Tactics, Techniques, and Technologies for Uncertain Times Tools for Survival: What You Need to Survive When You're on Your Own Liberators: A Novel of the Coming Global Collapse (his brand-new book) Patriots: A Novel of Survival in the Coming Collapse Expatriates: A Novel of the Coming Global Collapse Founders, a Novel of the Coming Collapse Survivors: A Novel of the Coming Collapse

Jim's blog, SurvivalBlog.com has had almost 70,000,000 unique visits since July of 2005 and is one of the most comprehensive compendiums of survival information online.

The interview covers:

Stockpiling as a financial strategy (the "Alpha Strategy") Alternative investments such as precious metals, ammunition, and productive farmland Functioning in a barter economy Buying nickels for a guaranteed investment return Applying ethics and morals in an immoral society

Enjoy!

Joshua

Links:

SurvivalBlog.com  "Getting Started" on SurvivalBlog "IRA Nationalization" on SurvivalBlog FAQ on Pre-1898 firearms RPF Episode 84: "Protect Your Wealth From Inflation by Implementing the Alpha Strategy (by John Pugsley): Concept, Implementation, and Problems" Jim's article on Investing in Nickels

397. How to Calculate How Much You Need to Save For Your Kid's College RPF0101
http://radicalpersonalfinance.... download (audio/mpeg, 31.54Mb)

Description:

Planning for a child's college expenses is a major financial goal for many parents. Unfortunately, this is an area filled with conflicting advice. 

Some people feel that saving for college is a financial goal of utmost importance; others feel it's not worth the money. Many that desire to save for the goal get constantly conflicting advice on whether to do a pre-paid tuition plan, 529 college savings plan, EE education bonds, cash value life insurance policy, or any of a couple other dozen exotic ways to plan for this expense.

Today, we continue our college series by teaching how to do a calculation of the need. I teach you how to use a simple financial calculator and paper and pen and come up with a precise dollar amount to save for.

Enjoy!

Joshua

Links:

The historical rate of inflation of college expenses Current cost of tuition at UF Previous shows in this series: Part 1, Part 2, Part 3Part 4 Free web version of the HP12C financial calculator for you to use

How to manually do the math for the college need on a financial calculator:

Step 1: Calculate the cost of the first year of college with a simple future value (FV) calculation.

PV = -$20,550 (cost of college today)
n = 17 (years between today and first year of college)
i = 6% (rate of inflation of college tuition)
PMT = 0
solve for FV
FV = $55,336.48 (cost of college in the first year)

Step 2: Calculate how much money you need to have available when your child is in their first year of college.

PMT = $-55,336.48 (cost of college each year)
n = 4 (four years of school attendance)
i = 1.89% (inflation-adjusted return: [(1.08 / 1.06)-1] x 100 = 1.89%
FV = 0
solve for PV (make sure your calculator is in BEGIN mode)
PV = $215,262.97 (amount needed in first year for four years' tuition)

Step 3: Calculate how much the parents need to save in either a lump sum (PV) or yearly amount (PMT) or monthly amount (PMT-convert i and n to monthly amounts).

LUMP SUM VERSION
FV = $215,262.97 (amount needed in first year for four years' tuition)
n = 17 (years between today and first year of college)
i = 8% (rate of return of investment portfolio)
PMT = 0
solve for PV (if you want a lump sum)
PV = $-58,178.90 (lump sum amount needed today to fund the cost)

YEARLY SAVINGS VERSION
FV = $215,262,97 (amount needed in first year for four years' tuition)
n = 17 (years between today and first year of college)
i = 8% (rate of return of investment portfolio)
PV = 0 (current amount of savings)
solve for PMT (if you want yearly payment amounts...look for info in a case scenario on whether to use BEGIN mode or END mode)
PMT = $-5,905.67 (yearly amount needed to fund the cost)



398. The Back Story on RPF and Details of our new Membership Program RPF0100
http://radicalpersonalfinance.... download (audio/mpeg, 53.69Mb)

Description:

Today, we celebrate our 100th episode! I'm thrilled to hit this milestone!

In today's show I share with you a bit about the genesis of the show, the path we've been on so far, and why I have done it the way I have.

Additionally, I share with you my vision for the future of the show. Specifically, today I'm launching The Irregulars, my new membership support program.

Please listen to the show and understand why I've chosen a listener-support approach to earning money from the show instead of accepting advertisers, affiliate programs, etc. It will make a huge difference in the show.

Enjoy!

Joshua

Links:

So far, the most listened to show is the interview with Curtis Stone. Second most listened to show is the interview with Jacob Lund Fisker. Third most listened to show is the Millionaire Educator interview!

399. What is Your Vision and Plan For Your Child's Primary and Secondary Education? RPF0099
http://radicalpersonalfinance.... download (audio/mpeg, 41.23Mb)

Description:

Today, we continue our education series with a discussion of my ideas and vision for primary and secondary school education. 

One large problem in the world of financial planning is that often parents wait too long to consider college planning. I propose that we instead consider college planning at birth and build flexible, comprehensive plans.

This show is purely about some of my ideas for my son's education. I hope you'll consider them and create your own list.

Enjoy!

Joshua

Links:

First episode of this series: "How to Pay for College Part 1: Teach Your Baby to Read RPF0077" Second episode of this series "The Untold History of School That You Probably Don't Know: Interview with Brett Veinotte, Founder of the School Sucks ProjectPart 1 and Part 2 The National Center for Education Statistics: Annual Cost per Student: $12,608 Audio Recording of "The Lost Tools of Learning" by Dorothy Sayers Bio of Arthur Robinson and his curriculum

400. Friday Q and A: I Doubled My Income, Now What? How Do I Retire With No Money? Is Insurance a Good Investment? RPF0098
http://radicalpersonalfinance.... download (audio/mpeg, 44.09Mb)

Description: It’s Friday! Time for another Q&A show! I was able to answer a total of three questions: I basically doubled my income from $100,000 to $190,000. I’m spending $30,000 per year. How do I invest all the extra money? My parents want to retire but they only have $150,000 of home equity and Social Security. What […]

401. An Ordinary Pursuit of Financial Independence: Interview with Eat The Financial Elephant RPF0097
http://radicalpersonalfinance.... download (audio/mpeg, 57.37Mb)

Description: Sometimes it’s easy to think that financial independence is accessible only to “extreme” people. That’s simply not the case. You don’t have to live in a tent in the woods in order to gain financial independence. Certainly, you might be able to do it faster by living in a tent, but if you don’t want […]

402. Financial Independence via Dividend Investing: Interview with Jason from Dividend Mantra RPF0096
http://radicalpersonalfinance.... download (audio/mpeg, 61.20Mb)

Description: Many of you have asked me to do a show on dividends and dividend investing. I decided to do it with an interview format instead of on my own. Today, we talk with Jason from DividendMantra.com about his path to financial independence. Jason woke up financially at the age of 27 to realize that he was […]

403. Early Retirement FAQs: Should I Pay Off Debt First or Should I Invest? An Interview with Joe, AKA Arebelspy RPF0095
http://radicalpersonalfinance.... download (audio/mpeg, 89.07Mb)

Description: Today, we continue the Early Retirement FAQs series with Arebelspy, one of the lead moderators in the Mr. Money Mustache forums. We tackle the question of “Should I pay off debt first or invest first?” from every angle we can think of. This show is packed with ideas and perspectives, many of which I’ll bet […]

404. How to Save Money on Baby Costs: Frugal Tips with Mrs. RPF Herself! RPF0094
http://radicalpersonalfinance.... download (audio/mpeg, 47.66Mb)

Description: Babies are expensive! Right? Well, Mrs. RPF and I haven’t found it to be so. Today, I’d like to introduce you to my wife and we’ll share with you some of the strategies we’ve found useful in raising our son. General themes: Kids will cost you exactly as much money as you have. Or as much as […]

405. Friday Q and A: What to Do With $200k of Student Loans, Starting Multiple Businesses, and a Cash Flow Statement Win! RPF0093
http://radicalpersonalfinance.... download (audio/mpeg, 40.63Mb)

Description: It’s Friday! That means it’s time for Q&A! Today, I take one comment from a listener and two questions: A listener did their cash flow statement “Joshua’s way” and discovered taxes are the biggest item in their budget!!! How many different business entities do I need if I want to start some sideline businesses? Should […]

406. The Business of Financial Advice: Opening the Curtain on The History, Present State, and Future of Financial Advice with Michael Kitces RPF0092
http://radicalpersonalfinance.... download (audio/mpeg, 78.71Mb)

Description: I’m constantly asked about the topic of hiring and working with a financial advisor. I’m asked how to find a good advisor, what makes a good advisor, and how to know if you have a good one. I’m also asked how anyone with morals or scruples could ever be a financial advisor, why anyone would ever […]

407. Do I Need Insurance? A Mental Model to Analyze Methods of Dealing With Risk RPF0091
http://radicalpersonalfinance.... download (audio/mpeg, 50.72Mb)

Description: Many of us have had exposure to various forms of insurance throughout our lives. But how do you make the initial decision whether insurance is appropriate for you? Today, I share with you a framework for considering various risks that you face and various ways to deal with those risks. Enjoy! Joshua Terms from today’s show: […]

408. The Lost Tools of Learning by Dorothy Sayers (audio version)
http://radicalpersonalfinance.... download (audio/mpeg, 35.62Mb)

Description:

This is an audio recording of Dorothy Sayers‘ well-known essay entitled “The Lost Tools of Learning.” The Lost Tools of Learning Dorothy Sayers That I, whose experience of teaching is extremely limited, should presume to discuss education is a matter, surely, that calls for no apology. It is a kind of behavior to which the […]



409. The Untold History of School That You Probably Don’t Know (2 of 2): Interview with Brett Veinotte, Founder of the School Sucks Project RPF0090
http://radicalpersonalfinance.... download (audio/mpeg, 44.21Mb)

Description: Today we have Part 2 of my interview with Brett Veinotte on the history of school. If you haven’t heard it yet, start with yesterday’s show! Joshua Links: Brett’s website: www.schoolsucksproject.com Gatto’s book: An Underground History of American Education Dorothy Sayers: The Lost Tools of Learning The Story of Two Buses

410. The Untold History of School That You Probably Don’t Know (1 of 2): Interview with Brett Veinotte, Founder of the School Sucks Project RPF0089
http://radicalpersonalfinance.... download (audio/mpeg, 69.16Mb)

Description: Today, we continue our education series by exploring the history of school with a special focus on the information you probably don’t know.. Education is a fundamentally important topic in financial planning both within the context of our own learning and also within the context of planning for our children’s education. It’s also often incredibly […]

411. Becoming a Minimalist for Greater Happiness: Interview with Joshua Becker from BecomingMinimalist.com RPF0088
http://radicalpersonalfinance.... download (audio/mpeg, 52.34Mb)

Description: Intentional minimalism is a powerful strategy to consider for personal financial planning. The richest man is not he who has the most but he who needs the least. My guest today is Joshua Becker. He is a normal, married, middle class man with two children. He and his wife discovered the joy and abundance of […]

412. Teaching Finance With a Pirate Adventure Novel and an Insider’s Guide to Wall Street: An Interview with Joey Fehrman, CFA RPF0087
http://radicalpersonalfinance.... download (audio/mpeg, 57.86Mb)

Description: Do we really need another book on finance? There are already tons of really great books on finance extant. But, how can we reach those who really don’t read very much? My guest today is Joey Fehrman, CFA and he decided to create a pirate adventure novel as a conduit for teaching the lessons of […]

413. Developing a Wealth Plan: Interview with Todd Tresidder, Founder of Financial Mentor RPF0086
http://radicalpersonalfinance.... download (audio/mpeg, 56.33Mb)

Description: The Personal Finance blogosphere is healthy and growing. Many of the writers who heavily influenced and contributed to the growth are no longer writing. And, many new writers are doing an excellent job! But, only a few have been around since the beginning and are still going. My guest today is one of those few. […]

414. How to Really Save Money on Utility Bills With Intelligent Engineering and Energy Planning: Interview with Steven Harris, CEO of Knowledge Publications RPF0085
http://radicalpersonalfinance.... download (audio/mpeg, 97.64Mb)

Description: Since we’re constantly working our way around the triangle formula of wealth (income, expenses, rate of return on the difference), there is a consistency to all aspects of financial planning. We’re either focusing on increasing/optimizing income, decreasing/optimizing expenses, or we’re optimizing rates of return. That’s it. That’s the essence of financial planning. Today, we focus […]

415. Protect Your Wealth From Inflation by Implementing the Alpha Strategy (by John Pugsley): Concept, Implementation, and Problems RPF0084
http://radicalpersonalfinance.... download (audio/mpeg, 58.21Mb)

Description: Many people today are concerned with the potential impact to their wealth of long-term inflation, mass inflation, and hyper inflation. Few have a plan to deal with it. Today, I present one strategy that could be implemented which would help to protect your standard of living. It’s called The Alpha Strategy. The Alpha Strategy is […]

416. Retire at 33 With 3 Young Kids! An Early Retirement Interview with Justin from Root Of Good RPF0083
http://radicalpersonalfinance.... download (audio/mpeg, 79.11Mb)

Description: I’ve got a great Friday show for you! Today, we’re going to interview early retiree Justin who writes at www.rootofgood.com. Justin has a great story. Why should you listen to him? Well, he retired at 33 as a millionaire, even though he followed a relatively mainstream path through college and law school  I’ll pull this […]

417. An Introduction to Peer-to-Peer Lending (e.g., Prosper and Lending Club) with Simon Cunningham of LendingMemo.com RPF0082
http://radicalpersonalfinance.... download (audio/mpeg, 61.69Mb)

Description: I’m interested in the topic of Peer-to-Peer lending but I’m not an expert on the subject. So, I went out and found an expert to teach us about the basics! Simon Cunningham is the founder of www.LendingMemo.com and is an expert on Peer-to-Peer Lending. He has borrowed through the system, he’s lent through the system, […]

418. How to Live Without a Mortgage! Interview with Rob Roy, author of “Mortgage Free: Innovative Strategies for Debt-Free Home Ownership” RPF0081
http://radicalpersonalfinance.... download (audio/mpeg, 54.01Mb)

Description: Today, I have an interview with Rob Roy for you. Rob is an awesome guy. He’s the author of “Mortgage Free: Innovative Strategies for Debt-Free Home Ownership.” He and his wife live in a house they built in upper New York State. They’ve never had a mortgage! Today’s interview covers: Rob’s strategy for debt-free homeownership […]

419. How to Become a Millionaire on a Teacher’s Salary In 20 Years – Interview with the Millionaire Educator RPF0080
http://radicalpersonalfinance.... download (audio/mpeg, 89.38Mb)

Description: I have a special spot in my heart for teachers. In many ways, the teaching career is an ideal career for building financial independence. But, it comes with its own unique set of challenges. Many people automatically assume that because of the “low salaries” that teachers earn, they can’t easily build wealth. But, our guest […]

420. What’s It Actually Like Living in a Bus With Three Small Children While Saving for a House? Challenging! Interview with Noah & Sarah from Little Bus on the Prairie RPF0079
http://radicalpersonalfinance.... download (audio/mpeg, 42.63Mb)

Description: I’ve always been interested in bus conversions and people who live in them. Today’s show is an interview with a young family who is living in a bus while saving and building their house. Sarah and Noah Springfield have three young children and they’re expecting their fourth in the next month or so. They’re saving […]

421. Early Retirement FAQs: Should I Invest in Real Estate or Stocks? An Interview with Joe, AKA arebelspy (who is on track to retire at 30 on a teacher’s salary) RPF0078
http://radicalpersonalfinance.... download (audio/mpeg, 58.53Mb)

Description: I’m excited about the massive growth of the early retirement community online. I’ve benefited hugely from the information and I want to serve and give back to the community. One of the most active forums I’ve found which is focused around early retirement is the Mr. Money Mustache forum. Over the years, I’ve admired the work […]

422. How to Pay for College Part 1: Teach Your Baby to Read RPF0077
http://radicalpersonalfinance.... download (audio/mpeg, 40.57Mb)

Description: Today, we start our series on intelligent and radical ways to pay for college. We will arrive quickly at the technical discussion on this topic but first, we start with one of my new interests: early education for infants and toddlers. Today, I share with you my recent discovery into this world and what I’ve […]

423. Prudent Preparation for All Circumstances is the Core of a Financial Planning Mindset RPF0076
http://radicalpersonalfinance.... download (audio/mpeg, 41.67Mb)

Description: Today’s show is about prudence and preparation in all areas of life. One of the oft-ignored aspects of personal financial planning is to plan appropriately for the areas of life that can’t be solved with the purchase of a financial product. This risks can vary from the mundane, common things of daily life to the […]

424. Friday Q and A: Calculating Life Insurance for Special Needs Planning, How to Get Started as a CFP, Another Mistake I Made, What To Do When You’ve Done All You Can, Ethical Investing & 4% Rule Clarifications RPF0075
http://radicalpersonalfinance.... download (audio/mpeg, 100.48Mb)

Description: Today, we have some excellent questions submitted from some very smart listeners! I was excited to be able to answer the questions for you and I’m really pleased with the variety, interest, and depth of this show. I hope you agree! Questions answered in today’s show: How do I plan for an appropriate amount of […]

425. How to Save Money on Groceries, Hotels, and Everything Else! Interview with Josh Elledge, Founder of SavingsAngel.com and the 90 Days to Abundance Podcast RPF0074
http://radicalpersonalfinance.... download (audio/mpeg, 52.54Mb)

Description: After yesterday’s deep dive into the science of financial planning I decided today we need something a bit lighter. And, in many ways, more practical. Today we jump into some very practical and useful tips and ideas for saving money with a special focus on groceries and travel. Enjoy! Links: SavingsAngel.com – Josh’s coupon site […]

426. Introduction to the 4% Rule: History, Context, Problems, and Ongoing Research (Interview with Dr. Wade Pfau) RPF0073
http://radicalpersonalfinance.... download (audio/mpeg, 54.71Mb)

Description: There’s a great deal of information online about the “4% Rule” for retirement income. Much of the information is excellent. Some of it is flawed. It’s very challenging to work through the data in this area of research because much of it is highly technical. But, it’s worth the effort! In celebration of the 20th anniversary […]

427. What I Learned at #FinCon14 and my MSFS Residency…and How I Hacked the Two-Week, 3,200 Mile Roadtrip for $600 RPF0072
http://radicalpersonalfinance.... download (audio/mpeg, 52.39Mb)

Description: I’m back! After two weeks out of the office and on the road, it feels good to be home in front of the microphone! Today’s show is a bit more personal. I share with you some of the lessons I’ve learned over the last two weeks from two very different but very complementary events. I […]

428. The Compounding of a Career RPF0071
http://radicalpersonalfinance.... download (audio/mpeg, 11.78Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short story for you about the compounding of a career. I think you’ll really enjoy this story of success. Links: The original James Clear article Investors Earn Handsome Paychecks by Handling Buffett’s Business

429. Choose Your Hobbies Carefully! RPF0070
http://radicalpersonalfinance.... download (audio/mpeg, 12.88Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short essay for you on the importance of choosing your hobbies carefully. No yelling. No prescriptions of exactly how you need to do it. Just some gentle encouragement!

430. Invest in Your Health! RPF0069
http://radicalpersonalfinance.... download (audio/mpeg, 3.28Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short essay for you on the importance of investing in your health. No yelling. No prescriptions of exactly how you need to do it. Just some gentle encouragement!

431. Invest in Your Marriage! RPF0068
http://radicalpersonalfinance.... download (audio/mpeg, 7.38Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short essay for you on the importance of investing in your marriage. No yelling. No prescriptions of exactly how you need to do it. Just some gentle encouragement!

432. If You’re Tired of Paying Heavy Taxes, Why Not Move? Interview with Andrew Henderson, Founder of www.nomadcapitalist.com and the Nomad Capitalist Report RPF0067
http://radicalpersonalfinance.... download (audio/mpeg, 45.46Mb)

Description: I’m very, very interested in strategies that work to help people build better lives for themselves in every way. One major area of interest to me is simply opting out of the confiscatory tax regime of the United States. I’m not an expert on this area, so I’ve brought you today an interview with Andrew […]

433. Do Financial Broadcasters Like Dave Ramsey Do More Harm than Good? A Frank Conversation Between Two Fans RPF0066
http://radicalpersonalfinance.... download (audio/mpeg, 47.45Mb)

Description: I’m often asked what I really think about Dave Ramsey and his work. And I’m generally fairly slow to answer the question simply due to my desire to focus on things that I love that are positive rather than being negative or critical. But, I’m aware that this is a continual question. And while being […]

434. Should I Pursue a Financial Planning Designation Just for My Own Knowledge? LIVE from #FinCon14! RPF0065
http://radicalpersonalfinance.... download (audio/mpeg, 26.65Mb)

Description: Today’s show is live from #FinCon14! And, it’s an answer to a listener question. Here’s the question from a listener named Jeff: Hey Joshua, I have been listening to your podcasts ever since I found them a few weeks ago. Here is my question for you. Do you think I should pursue earning a financial […]

435. How to Work 10 Years, Retire in Your Early 30s, and Spend the Rest of Your Life Traveling the World: An Interview with Jeremy and Winnie from Go Curry Cracker RPF0064
http://radicalpersonalfinance.... download (audio/mpeg, 49.67Mb)

Description: It’s not easy to retire early. But it’s also not necessarily complicated. In many ways, there’s a well-worn path to success and our guests today are a good example of one way that works. Jeremy and Winnie set out on a ten-year plan. Living in Seattle, they worked in the tech industry, lived frugally, and […]

436. The Importance of Tracking Your Time and Some Tips For How To Do It RPF0063
http://radicalpersonalfinance.... download (audio/mpeg, 8.32Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short essay on the importance of tracking your time and some tips to help you set up a system that will work for you. This is episode complements the recent discussion of tracking your money. I hope you enjoy!

437. Sailing Around the World with 6 Kids: An Interview with Erik Hemingway Host of The Family Adventure Podcast About His Family’s 3.5-Year, 25-Country Adventure! RPF0062
http://radicalpersonalfinance.... download (audio/mpeg, 58.35Mb)

Description: I love adventure and really love to hear adventure stories from people who have  gone out and fully embraced a unique adventure. I’m especially interested in how to fund these adventures. My new friend Erik Hemingway, the host of the Family Adventure Podcast tells a great story and spills the beans about how he and his family […]

438. The Importance of Tracking Your Money and Some Tips For How To Do It RPF0061
http://radicalpersonalfinance.... download (audio/mpeg, 6.80Mb)

Description: I’m on the road today so the show is a little different. Today I have a very short essay for you on the importance of tracking your money and some tips to help you set up a system that will work for you. No yelling. No prescriptions of exactly how you need to do it. […]

439. Four Useful Goal-Setting Questions and Correcting Two Mistakes I Made Recently RPF0060
http://radicalpersonalfinance.... download (audio/mpeg, 30.09Mb)

Description: Today I’m going to share with you one important question (and four follow-ups) that have really helped me in my own life and in my past work with clients. Also, I share two errors I made recently that I need to correct. Details in the show! A Powerful Question (originally from Dan Sullivan’s Strategic Coach […]

440. How to Make Your Entire Living on Craigslist: Interview with Ryan Finlay from ReCraigslist RPF0059
http://radicalpersonalfinance.... download (audio/mpeg, 41.77Mb)

Description: What would you do if you were $25,000 in credit card debt, unemployed, and had $200 to your name? Would you go get a job or would you start buying and selling stuff on Craigslist to dig out of your hole? Our guest today is Ryan Finlay. He found himself in exactly the same situation […]

441. Illustrations of the Value of Being Able to Live Cheap: An Excerpt of Tim Ferriss and Kevin Kelly (sick day) RPF0058
http://radicalpersonalfinance.... download (audio/mpeg, 8.96Mb)

Description: Wednesday was a sick day around the Sheats household and RPF HQ! But, I wanted to still bring you a bit of thought-provoking audio and today’s excerpt is here! Enjoy this short clip from Tim Ferriss’s interview of Kevin Kelly and check out the links for the full show! It’s an excellent interview! Links: The full […]

442. Professional Portfolio Manager Turned Early Retiree: Interview With David Stein, Host of Money for the Rest of Us RPF0057
http://radicalpersonalfinance.... download (audio/mpeg, 54.13Mb)

Description: Today’s show is an interview with David Stein, a former professional portfolio manager and now host of the “Money for the Rest of Us” podcast. We had an amazing conversation and dug into some of the behind-the-scenes information on what the world of professional money management is like. You’ll also be interested in hearing how […]

443. Financial Plans Should be Unique! 18 Variables That Could Dramatically Affect Your Plans RPF0056
http://radicalpersonalfinance.... download (audio/mpeg, 41.45Mb)

Description: Today, we tackle head on the myth that financial plans should be the same for all people.  They simply shouldn’t. But we’ve probably all swallowed that line to some degree or another. I was inspired by Friday’s show at how many unique variables and plans could be developed. So I sat down and made a list […]

444. Friday Q and A: I Have $1,000,000, I’m 35, and I Hate My Job: Can I Retire Early? RPF0055
http://radicalpersonalfinance.... download (audio/mpeg, 55.60Mb)

Description: We have a really fun question from a listener today! Essentially, it’s this: I’m 35 and I don’t like my job…I have a $1,000,000 and I want to retire but no one can agree on whether I can or not! Tune in to hear my answer–it’s probably not what you think! Links: The original Trinity […]

445. How to Become The Millionaire Next Door: An Interview with John Pugliano, Founder of Investable Wealth LLC and the Wealthsteading Podcast RPF0054
http://radicalpersonalfinance.... download (audio/mpeg, 83.11Mb)

Description: I’m thrilled to bring you today’s interview with John Pugliano. John has followed the prudent path of the Millionaire Next Door–starting with nothing and becoming rich over a couple of decades by working hard, living frugally, and investing wisely. This is a path that is repeatable by most people in our Western societies. John came […]

446. How Does My Tax Return Work? An Explanation to the Structure of IRS Form 1040 RPF0053
http://radicalpersonalfinance.... download (audio/mpeg, 30.44Mb)

Description: Many people today have no idea how the tax return works. This is probably because many people today (including me) use either a computer program or an accountant to prepare their tax returns rather than calculating it by hand. This is probably much faster and more accurate but, in some ways, it’s a loss because […]

447. The Simple, Clear Path from $25,000 in Debt to an Entrepreneur’s Lifestyle: An Interview with Kraig Mathias from www.CreateMyIndependence.com RPF0052
http://radicalpersonalfinance.... download (audio/mpeg, 58.69Mb)

Description: We’re back from a most excellent three-day weekend with a great interview with my new friend Kraig Mathias from www.CreateMyIndependence.com. I met Kraig in Dallas at the Podcast Movement Conference. We hit it off and I really loved hearing his story. Kraig was living a fairly normal financial life until 2010 when he was inspired to […]

448. Friday Q and A: Accrual Accounting vs. Cash Method, Roth IRA as an Emergency Fund, Permaculture Resources, Coming Up With Business Ideas, and Disagreements With My Walmart Show RPF0051
http://radicalpersonalfinance.... download (audio/mpeg, 78.11Mb)

Description: Today, I answer your questions for the show! And we’ve got quite a mix of questions! How do I adjust my accounting system to handle irregular expenses? (Accrual accounting vs cash basis and double-entry accounting vs. single-entry accounting.) How can I use a Roth IRA for an emergency fund? How can I learn about permaculture? How […]

449. From an $8/hr Job After College to Financial Independence at Age 30 to 10+ Years of Global Travel With Family! Interview With Pat Schulte From Bumfuzzle.com RPF0050
http://radicalpersonalfinance.... download (audio/mpeg, 61.50Mb)

Description: Today we have a very special interview to share with you! I’m thrilled to bring you an interview with one of my favorite writers, Pat Schulte. Pat and his wife Ali have a really neat story: Pat and his wife were highschool sweethearts. After college he started working an $8/hr job as a clerk to […]

450. An Introduction to Estate Planning: The Basics RPF0049
http://radicalpersonalfinance.... download (audio/mpeg, 56.85Mb)

Description: Today’s show is an introduction to estate planning. It’s the beginning of many, many shows in a series. I try to give you some basics to frame your knowledge. I also answer these questions: What is the  history of estate planning? Does everybody need a will? What happens if I die without a will? Why don’t people […]

451. Why You Should Probably Lower Your Financial Goals RPF0048
http://radicalpersonalfinance.... download (audio/mpeg, 64.30Mb)

Description: When people talk about money–especially in the world of success and financial planning–it’s often assumed that more is always better. This is wrong. More is not always better because: The more money you want, the more risk you have to take. The more money you want, the more you have to give up (or pay) […]

452. What Can We Learn From a Listener With a Ph.D. in Computer Science Who Plays Professional Poker and Retired at 37? Interview with Daniel Bernstein of www.AwesomeSecrets.com RPF0047
http://radicalpersonalfinance.... download (audio/mpeg, 48.49Mb)

Description: Last week a listener reached out to me and basically said, “I love what you’re doing and I think I’ve got a fun story your listeners might enjoy hearing about!” I read his bio and told him he was right! Today, he’s on the show. Daniel Bernstein: Got a Ph.D. in Computer Science Worked at a […]

453. Friday Q and A: What Do I Do With a Stinky 401(k)? RPF0046
http://radicalpersonalfinance.... download (audio/mpeg, 51.78Mb)

Description: I received an email from a listener named Jason who has a 401(k) with high fees. He asked me what I should do and I gave him a comprehensive answer. Enjoy the show! Links mentioned: Inflation adjusted return formula The actual rate of return of the average investor How to Get Started in Real Estate […]

454. What I Learned at the Podcast Movement Conference and Updates on the Future of the Show RPF0045
http://radicalpersonalfinance.... download (audio/mpeg, 49.68Mb)

Description: I just got back from the Podcast Movement Conference in Dallas, TX. It was a really great conference! It was the first I’ve been to in the new media space. Today’s show is about: Why should we go to conferences in the first place? Major lessons I learned from #PM14 Things I didn’t learn at […]

455. It Couldn’t Be Done…And He Did It (RPF from the road) RPF0044
http://radicalpersonalfinance.... download (audio/mpeg, 2.44Mb)

Description: It Couldn’t Be Done BY EDGAR ALBERT GUEST Somebody said that it couldn’t be done But he with a chuckle replied That “maybe it couldn’t,” but he would be one Who wouldn’t say so till he’d tried. So he buckled right in with the trace of a grin On his face. If he worried he […]

456. My Plan For How I Would Become A Millionaire With a Minimum Wage Job at Walmart! RPF0043
http://radicalpersonalfinance.... download (audio/mpeg, 50.50Mb)

Description: I worked hard on today’s show and I’m excited about it! It’s my plan for how I would become a millionaire with a minimum wage job at Walmart. The show is quite good (I think) but I didn’t have time to properly type up all of the show notes before my trip. (I recorded it […]

457. Making a Living With Your Music Online: Interview with Dan-O from DanoSongs.com RPF0042
http://radicalpersonalfinance.... download (audio/mpeg, 28.42Mb)

Description: Today’s show is an interview with Dan-O from www.DanoSongs.com. I found Dan when I was looking for royalty free intro music for my show. When I discovered his site, I found exactly what I needed. And, I thought it was neat to find a musician making money off his songs! I thought it would be […]

458. Major Tax Planning Strategies #2 and #3 — Shifting and Converting Income From High Rates to Low Rates RPF0041
http://radicalpersonalfinance.... download (audio/mpeg, 31.35Mb)

Description: Today we round out major tax strategies #2 and #3. As a refresher, here are the three basic tax planning strategies: Timing (deferring or accelerating taxable income and tax deductions) Income shifting (shifting income from high to low tax rate taxpayers) Conversion (converting income from high to low tax rate activities) Tax rates vary across […]

459. Making $80k on 1/3 Acre With an Urban Farm Without Owning Land? Yes, Please! Interview With Curtis Stone. RPF0040
http://radicalpersonalfinance.... download (audio/mpeg, 58.11Mb)

Description: I think you’ll love today’s show! Today, we talk with Curtis Stone, Founder of Green City Acres, an urban farm in Kelowna, British Columbia. Curtis was a musician who decided he wanted a different life. He started his urban farm with a $7,000 investment and without buying any land. (That means no debt!) His first […]

460. What Can We Learn From the 400 Highest Income Tax Returns? Profits Are Better Than Wages! RPF0039
http://radicalpersonalfinance.... download (audio/mpeg, 32.81Mb)

Description: I never intended that this show become “The Entrepreneur’s Hour,” but that seems to be a central theme! Today, I share some data that I stumbled upon from an IRS analysis of the 400 highest income tax returns. The results? Here are the income sources for the top 400 tax returns: Wages and salaries: 8.6% Interest: […]

461. Would You Be Willing to Live in a Van While in College to Avoid Student Loans? Interview with Ken Ilgunas RPF0038
http://radicalpersonalfinance.... download (audio/mpeg, 52.75Mb)

Description: My guest on today’s program is Ken Ilgunas, author of Walden on Wheels. Ken paid off a “crushing $32,000 of student debt” from his undergraduate education by working odd jobs all across the country and vowed not to go into debt again. While pursing his graduate degree, Ken gained a bit of national notoriety when […]

462. Interview with Trevor Van Hemert of Pedal to Petal About His Composting Business, Entrepreneurship, SPIN Farming, Financial Independence, and Cryptocurrencies RPF0037
http://radicalpersonalfinance.... download (audio/mpeg, 62.35Mb)

Description: Today’s show is an interview with a listener who is far outside the mainstream finance world. Trevor Van Hemert is an entrepreneur, blogger, and financial independence advocate. Most importantly, he now makes his entire living online with a very short workweek. Join us for today’s interview as we discuss: Starting a business for a total […]

463. Major Tax Planning Strategy #1 — Adjusting the Timing of Income for Maximum Effect RPF0036
http://radicalpersonalfinance.... download (audio/mpeg, 47.98Mb)

Description: In today’s show, we tackle the first of the Big 3 tax planning strategies that you need to be aware of. As a refresher, here are the three basic tax planning strategies: Timing (deferring or accelerating taxable income and tax deductions) Income shifting (shifting income from high to low tax rate taxpayers) Conversion (converting income […]

464. Saving Money on Communications Bills with the Tech Meshugana and Much, Much More! RPF0035
http://radicalpersonalfinance.... download (audio/mpeg, 116.92Mb)

Description: Today’s show is a reprise of RPF Episode 4 – How to Save Money on Communications Bills with update information–or at least that’s what it was intended to be! The interview wound up going in some other directions! I.P. Daley, the Tech Meshugana has the best guide on the internet for how to save money on communications expenses […]

465. Monday Roundup: Economists vs. Politicians, Americans in Debt, Minimum Wages and Unemployment, Lessons from Psychology, Etc. RPF0034
http://radicalpersonalfinance.... download (audio/mpeg, 63.27Mb)

Description: On Monday’s shows I bring you a variety show with news articles that have stood out to me from this past week. Today, we cover a lot of ground! “A Tax Plan That Economists Love (And Politicians Hate)” from NPR’s Morning Edition Episode 387 of Planet Money: The No-Brainer Economic Platform One out of three […]

466. What Can We Learn About Finance from Dumpster Divers, Freegans, Vagabonds and Hobos? RPF0033
http://radicalpersonalfinance.... download (audio/mpeg, 55.32Mb)

Description: Let’s get a bit radical today, eh? How about some finance lessons from homeless people? I’ve been doing some reading lately on the radical side…books written by homeless people and vagabonds to see what I can learn. Today, I share some of the lessons I’ve been learning in hopes of inspiring you with some out-of-the-box […]

467. In What Order Should I Pay Off My Debts? A Rational Guide to the Debt Snowball, Debt Avalanche, and Other Considerations RPF0032
http://radicalpersonalfinance.... download (audio/mpeg, 40.82Mb)

Description: One of the biggest debates in the personal finance space is about which order to use to pay off my debts. Opinions vary, experiences vary, and tempers flare when this subject is brought up. I think the debate is helpful in some ways but rather silly in other ways. I think it’s a lot easier […]

468. Basic First Steps to Starting a Business RPF0031
http://radicalpersonalfinance.... download (, 0.00Mb)

Description: I was recently speaking with a friend of mine who is in the process of starting a business. I was answering some of his questions when I realized how daunting it can be to start a business if you haven’t done it before. And how simple it seems after you’ve done it. Unfortunately, our entire educational […]

469. Discussion of the Permanent Portfolio: an Investing Strategy for All Economic Cycles (interview with Jake Desyllas) RPF0030
http://radicalpersonalfinance.... download (audio/mpeg, 89.19Mb)

Description: Many people have searched and searched for the holy grail of investing: a portfolio that provides a good return with low risk that can weather the economic storms, no matter what they be. Some feel that they have found it in The Permanent Portfolio. The Permanent Portfolio is a concept that was designed by Harry […]

470. The Iron Law of Wealth Building (or How to Translate Personal Financial Statements into Results) RPF0029
http://radicalpersonalfinance.... download (audio/mpeg, 56.52Mb)

Description: There is an iron formula of wealth that can be applied to all financial plans. The relationships between balance sheets cannot be broken in any way. To become wealthy, you much increase the net worth on the bottom of the balance sheet. The only two ways to increase net worth are to increase assets or reduce […]

471. Why “Follow Your Passion” is the Wrong Career Advice (calling in sick today on RPF) RPF0028
http://radicalpersonalfinance.... download (audio/mpeg, 34.53Mb)

Description: Hey friends, I’m still not able to speak well enough to record a normal show but I wanted to make sure you have something thought-provoking to listen to. The thought-provoking audio for today is from Cal Newport‘s speech at The World Domination Summit. I hope to be back with you loud and strong on Monday! […]

472. What Would You Do if Money Were No Object? (calling in sick today on RPF) RPF0027
http://radicalpersonalfinance.... download (audio/mpeg, 9.71Mb)

Description: Today’s show is very short but, I hope, very thought provoking. I’m feeling sick today and am not able to produce any content that will be up to snuff. But I’m certainly not about to leave you without something that will uplift you and make you smarter. Nothing’s seriously wrong with me–just run down due […]

473. An Introduction to the Cash Flow Statement: The One-Page Document That Shows Whether You Will be Rich or Poor in the Long Run RPF0026
http://radicalpersonalfinance.... download (audio/mpeg, 33.25Mb)

Description: The Cash Flow Statement is the one document that you can create which will definitively show whether you can expect your wealth to increase or decrease in the long run. There are only three variables we can manipulate in any financial plan that will affect long-term wealth: The amount of inflows The amount of outflows […]

474. Interview with Jacob Lund Fisker, Author of “Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence” RPF0025
http://radicalpersonalfinance.... download (audio/mpeg, 169.97Mb)

Description: This show is an interview with Jacob from The Early Retirement Extreme book and blog. Jacob is a former physicist who developed a plan that can help anyone, regardless of income, industry, or background, from where they are to financial independence in 5 years by learning to free themselves from the earn/pay cycle and substituting use of […]

475. Happiness & Money, Rising US Wages, Economic Patriotism, Top Jobs in Demand, Subprime Bubble in Used Cars, Unlimited Kindle for $10 a Month, Habits of the Wealthy, The Roth IRA Horse Race, and Building Up With Worn-Out Tools RPF0024
http://radicalpersonalfinance.... download (audio/mpeg, 75.30Mb)

Description: Monday’s shows are variety shows with me sharing current events and commentary from this past week. The topics are wide-ranging and provocative! Enjoy! Links mentioned in today’s show: Discussion on happiness and money: New York City is the Most Unhappy City in America? Refers to this recent Harvard paper on the inequality of happiness across the nation. […]

476. Friday Q and A-What Can I Do To Plan for My Parents’ Long-Term Care When They Don’t Have Any Money? RPF0023
http://radicalpersonalfinance.... download (audio/mpeg, 60.71Mb)

Description: I plan that Friday’s show generally be a Q&A show and today, I planned to answer two questions: one about planning for long-term care needs and the other about what to do with a less-than-stellar 401(k) plan. Unfortunately, I was really only able to answer the first one. But, I hope the answer will provide […]

477. An Introduction to the Statement of Financial Condition or Balance Sheet: A Powerful Tool in Financial Panning if you Understand How it Works! RPF0022
http://radicalpersonalfinance.... download (audio/mpeg, 68.43Mb)

Description: Many times people ask me where to start with the process of financial planning. Today’s show answers that question. If you were assigned to take over a failing business and you wanted to turn it around, you would begin by answering two questions: Why does this business exist? (Purpose) Where is this business at? (Financially […]

478. Stocks, Bonds, & Derivatives: What They Actually Are and How They Actually Work (Foundational Knowledge for All Investment Decisions) RPF0021
http://radicalpersonalfinance.... download (audio/mpeg, 70.38Mb)

Description: Would you like to know what stocks, bonds, and derivatives actually are and how they actually work? Listen to today’s show to build your foundational knowledge so you’re not fooled by faulty analysis of markets. Join us as we discuss: Real assets vs. financial assets (all wealth comes from real assets–financial assets merely represent a claim […]

479. “Entrepreneurship is the Only Opportunity to Seek Financial Freedom that is Open to Anyone” – Interview with Jake Desyllas from The Voluntary Life RPF0020
http://radicalpersonalfinance.... download (audio/mpeg, 42.02Mb)

Description: Today we have an interview with Jake Desyllas, author of “Becoming an Entrepreneur: How to Find Freedom and Fulfillment as a Business Owner” and host of The Voluntary Life Podcast. The primary interview is about entrepreneurship and how entrepreneurship is a really valid–if not the most effective–way to purse and find financial freedom and personal […]

480. A Comprehensive Guide to the Overall Process of Financial Planning for DIYers and Financial Planners (CFP­® Board Job Task Domains) RPF0019
http://radicalpersonalfinance.... download (audio/mpeg, 73.88Mb)

Description:

In today’s show we use the CFP Board’s “Job Task Domains” to frame the financial planning process as a helpful template for DIYers or as necessary information for financial planners. This framework and template is a comprehensive guide to the financial planning process, which is the method employed to get outstanding results. Beginning Announcements: It’s […]



481. Friday Q and A: Bear Market Investment Strategies, Investment Strategies for House Downpayments, Advice for 18y.o., Most Complicated Thing in My Life, and Thoughts on “The Millionaire Fastlane” RPF-0018
http://radicalpersonalfinance.... download (audio/mpeg, 87.75Mb)

Description: On Fridays I answer your questions! I’ll answer any question you ask me. Today, we discuss: How would I protect my investments from a bear market? How would I invest the money I’m saving for a house downpayment? What financial advice would I give an 18y.o. me? What’s the most complicated thing in my day? […]

482. Should I Stop Paying My Taxes On Moral Grounds? An Interview About War Tax Resistance with David Gross, author of “99 Tactics of Successful Tax Resistance Campaigns” RPF0017
http://radicalpersonalfinance.... download (audio/mpeg, 61.16Mb)

Description: In today’s show we move over onto the more “radical” side of financial planning. Today’s show is an interview with David Gross, author of “99 Tactics of Successful Tax Resistance Campaigns.” David worked as a computer programmer and lived a fairly normal life until 2003, when he became bothered by the actions of the U.S. Government […]

483. What Advice Would You Give to an 18-Year Old You? RPF0016
http://radicalpersonalfinance.... download (audio/mpeg, 61.57Mb)

Description: Today’s show is a bit more general and philosophy focused rather than technical. I decided to use a question from my Twitter exchange with Robbie this morning as the springboard for my show. @RadicalPF knowing what you know today. What financial advice would you have given your 18yr old self? Doesn’t just have to be […]

484. How to Eliminate Your Taxes! The Basic Foundation You Need to Understand To Do Good Tax Planning RPF0015
http://radicalpersonalfinance.... download (audio/mpeg, 93.39Mb)

Description: Beginning announcements: We’re live in iTunes! Share this link please! http://itunes.apple.com/us/podcast/radical-personal-finance-podcast/id896153632 I’ve set up an email list–please consider subscribing so you receive the full set of show notes every day. We email the entire post so you can decide if you want to listen or not! Thank you so much for the comments and show ideas! […]

485. FAQ: The Stock Market is At an All-Time High: Should I Wait for the Market to Go Down To Invest in Stocks? RPF0014
http://radicalpersonalfinance.... download (audio/mpeg, 46.77Mb)

Description: In today’s show, we tackle a Frequently Asked Question about whether I should wait to invest in stocks because of where the market is at. The Dow closed above 17,000 last week. Inevitably, here are the four articles you will see all week: Stocks have more room to run! Stocks are in a bubble and […]

486. The Forgotten History of Retirement: Who Actually Benefits When You Retire? RPF0013
http://radicalpersonalfinance.... download (audio/mpeg, 77.57Mb)

Description: In today’s show we dig deep into the forgotten history of retirement. Have you ever wondered how we wound up with the retirement system today? Have you ever wondered what political movements led to the creation of things like mandatory retirement and the Social Security system? Although I certainly can’t answer all the questions in one […]

487. Exposing One of the Biggest Problems in Financial Planning: Nobody Retires! Ever! RPF0012
http://radicalpersonalfinance.... download (audio/mpeg, 86.59Mb)

Description: Today on the Radical Personal Finance Podcast, we deal with the elephant in the living room: Nobody ever retires! Especially those who can afford to! Billionaires don’t retire. Poor people can’t retire (even though they desperately want to sometimes). The Four Hour Workweek Man works about 10 hours a day. Mr. Early Retirement Extreme himself […]

488. Introduction to the Radical Personal Finance Podcast – The [New] First Episode – RPF0011
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Description: Today’s show is an introduction to the Radical Personal Finance Podcast. We discuss: My background with financial planning and financial planning media. My frustrations with the financial press. My philosophy that very little is right or wrong in financial planning; perspective is important. Our goal to destroy financial planning dogma. A rational approach to financial […]

489. RPF 0010 – You Are 100% Responsible For Your Income
http://radicalpersonalfinance.... download (audio/mpeg, 65.77Mb)

Description: You are 100% responsible for your income–both creating an income source and for the actual level of your income.  In the US American context, you’re paid exactly what you’re worth in the marketplace.  So, to make more, you have to be worth more.  The bad news is that being worth more is difficult because it […]

490. RPF 0009 – Why Your House is a Terrible Investment – Interview with James Collins from jlcollinsnh.com
http://radicalpersonalfinance.... download (audio/mpeg, 26.67Mb)

Description: Today’s show topic is real estate and we’ll be discussing why your house is a terrible investment, how to do a proper rent vs. own calculation, and other wealth building topics with our special guest, James Collins. It’s certain to be challenging, controversial, and, I hope, appropriately radical. Please listen to the entire episode to understand […]

491. RPF 0008 – Updates for the Show and a Conversation on The Problems and Solutions Facing Our Consumption-Based Society
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Description: Today’s show is a conversation about the current status of the show, some of my mistakes and things I’m working on and it’s also a casual conversation about what’s really important.  We talk about the problems and solutions facing our consumer society and how we already know each and every one of the solutions to […]

492. RPF 0007 – Strategies to Achieve Financial Independence at an Early Age – an interview with Brandon, the Mad Fientist
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Description: Today, we have an in-depth conversation with Brandon, the Mad Fientist.  If all goes according to plan, Brandon should have enough money by the end of next year (2014) to never have to work again. He will be in his early 30s. Today’s show goes fairly deep into some of the technical strategies that Brandon is […]

493. RPF 0006 – How to Afford Anything You Want in Life – An Interview with Paula Pant from AffordAnything.com
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Description: Today’s show is an interview with Paula Pant, founder of Afford Anything. Paula is a journalist, globetrotter, entrepreneur, and investor who has traveled to nearly 30 countries before her 30th birthday. She owns six rental property units that passively put thousands in her pocket. Here’s Paula’s philosophy in her own words, pulled straight from her About […]

494. RPF 0005 – The Ultimate Guide to Spending Money – How a smart person can optimize each and every buying decision to get maximum utility out of their money
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Description: Today’s show gives you some questions to ask yourself when making some buying decisions and some tools to make more intelligent decisions. Resources for today’s show: When is it okay for you to spend a lot of money? When you want to because it satisfies something that’s important to you–it’s your money.  You earned it […]

495. RPF 0004 – How to Save Huge Money on Your Cell Phone Bill (An Interview with I.P. Daley, the Tech Meshugana)
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Description: Today’s show is a comprehensive guide that will give you an incredible foundation in how to save big money on your cell phone bills.  Our guest, I.P. Daley from www.techmeshugana.com shares his tips and techniques for how he has lowered all of his communications bills to

496. RPF 0003 – Book Review and Commentary on “Early Retirement Extreme – A philosophical and practical guide to financial independence”
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Description: In this episode of the Radical Personal Finance Podcast, we dig into Jacob Lund Fisker’s seminal book “Early Retirement Extreme” for a book review and commentary. I love this book. I think it can serve as an overarching manual for designing your financial plan so that it funds your life.  It’s also one of the […]

497. RPF 0002 – The first question in financial planning…what do you want?
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Description: Where do you start when thinking about financial planning?  You have to begin with the end in mind (as Stephen Covey would say): What do you really want?   Why do you want it?   And then, how are you going to achieve it? Every bit of your plan revolves around the answers to those […]

498. RPF 0001 – Welcome to the Radical Personal Finance Podcast!
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Description: A brief introduction to the Radical Personal Finance Podcast, its purpose and goals, and an introduction to your host, Joshua Sheats.