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ChooseFI

505 | Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 19 August 2024

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: debt and investing, the 4% rule, Roth 401k and traditional 401k, and total return investing.

This week we are back with a listener Mail Bag featuring returning guest Rachael Camp! Together, we will be answering questions and giving our feedback on nuanced topics asked by the community! Listen along for discussions about the 4 percent rule, how taxes are factored into your FI number, investing in dividends, paying down debt versus investing, and finally a shortlist of actionable steps one could take if they are young and beginning their FI journey. There is much to discuss and so much more to learn this week as we tackle your FI questions!

Rachael Camp offers advisory Services through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Camp Wealth is not affiliated with the CFD companies.

🔑 Key Themes Discussed:

  • Introduction to Financial Independence
  • Debt vs. Investing
  • The 4% Rule and Taxes
  • Roth 401k vs. Traditional 401k
  • Dividends vs. Total Return Investing
  • Second Generation FI

🕒 Chapters:

  • Getting Started with FI
  • Debt vs. Investing
  • 4% Rule and Tax Implications
  • Roth 401k vs. Traditional 401k
  • Dividends vs. Total Return Investing
  • Second Generation FI

Transcript

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0:00.0

Hey this is Brad. I wanted to jump in real quick with an update before we get started with the episode.

0:04.8

Two of my top three Traveler Awards Credit Cards right now are at what I believe to be their all time high bonuses.

0:11.7

So if you have a small business and you've been looking for a credit card,

0:16.2

the Inc. Business Preferred Card has the best bonus I've ever seen. So as I'm recording this on August 11th 2024 it has a 120,000 point bonus offer

0:26.3

after you spend 8,000 dollars in the first three months there is a 95 dollar annual fee and

0:31.2

for personal cards the Capital One venture card also has the best

0:36.4

bonus I've ever seen so it's a 75,000 mile bonus when you spend $4,000 in the

0:41.3

first three months but now Capital One is offering a $250 travel

0:46.4

credit in your first year that you have the card. So those points are actually similar

0:51.2

to the chase points that you get with Inc.

0:53.2

Business Preferred, these Capital One Venture Miles are now

0:56.9

transferable points.

0:58.6

So this is an incredibly, incredibly valuable offer. If you want to find more information about this go to

1:04.8

choose-of-I.com and on our travel rewards page you'll see my top 10

1:09.4

recommended travel cards these are number two and number three right now and when you use our

1:14.4

links to sign up for credit cards we do receive an affiliate commission so thank you for

1:18.7

your support it really means the world to us and now let's get on with the show.

1:23.0

Hello and welcome to Choose a 5.

1:26.0

Today in the show we have another mailbag episode and this should be a really good one.

1:30.0

Our friend Rachel Camp, who's the CFP, she's back for the fourth time, and I absolutely love having her on.

1:35.3

These are just the best episodes because we're able to dive really deep into the nuance, but also take a step back at the 30,000 foot view and say,

1:44.4

okay, how does this apply to Fai?

...

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