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ChooseFI

511 | Take the Next Step | Ginger Roundup

ChooseFI

Brad Barrett | Choose FI Media

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

4.8 • 5K Ratings

🗓️ 23 September 2024

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: doing the hard things, travel rewards, the gap and the gain, health and wellness, and real estate.

This week we are back with another listener Mail Bag featuring Ginger. Listen along as we cover a range of topics from recents trips we’ve taken, facing and overcoming challenges, The Gap and the Gain, taxes in retirement and a realistic outlook on how much you’ll be paying, the rule of 72, as well as shout out some of your FI wins! So much to cover and much more to learn in this week’s episode.

🔑 Key Themes Discussed:

  • Financial Independence (FI) journey and making big life transitions
  • The importance of experiencing challenging tasks to build resilience (“doing hard things”)
  • Insights on taxes in retirement: why you may pay less than expected
  • Travel hacks: optimizing family cruises and travel rewards points
  • The psychological approach to financial success: The Gap and The Gain concept
  • Personal health and wellness: Brad’s journey with hiking, saunas, and cold plunges
  • Community wins: listener success stories on saving, investing, and achieving FI
  • Health insurance strategies for early retirees
  • Real estate strategies and long-term capital gains tax advantages
  • Addressing common FI misconceptions and how to optimize your finances

🕒 Chapters:

  • 00:00 – Introduction and Recent Trips
  • 01:30 – Travel Rewards and Cruise Optimization
  • 06:00 – Family Vacations and Cruise Hacks
  • 08:30 – Colorado Trip and Doing Hard Things
  • 10:00 – Hiking Challenges: Lessons from FI and Fitness
  • 17:00 – Financial Independence Journey: Overcoming Obstacles
  • 21:00 – The Gap and The Gain: Mental Shifts for Success
  • 27:00 – Understanding Taxes in Retirement
  • 35:00 – Health Insurance and Early Retirement Strategies
  • 40:00 – Capital Gains Tax and Real Estate in FI
  • 48:00 – Listener Questions and Real-Life Examples
  • 55:00 – Community Wins: Listener Success Stories
  • 59:00 – Travel Rewards Victory: Booking Free International Trips

Resources Mentioned In Today’s Episode:

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to Choose A5 today in the show we have another fun roundup episode where Ginger and I talk through just a whole bunch of really interesting topics just as it relates to those of us on the path to Fy. And man, we are said to talk about a lot of things.

0:15.0

We're going to talk about some recent trips.

0:17.0

We just took taxes in retirement and how you might actually be paying a lot less than you anticipate.

0:22.0

The preferential rate of capital... how you might actually be paying a lot less than you anticipate.

0:23.2

The preferential rate of capital gains,

0:25.8

which is really interesting.

0:26.8

The rule is 72, Coasefye, doing hard things,

0:30.4

a book I'm reading called The Gap and the Gain, plus of course, questions and wins from you, the community,

0:36.0

the lifeblood of what we do here at Chisifai.

0:38.0

This is going to be a fun one.

0:39.0

And with that, welcome to Chisifai. Welcome to Choose a fine. Ginger, it is so good to see you.

0:48.6

Ginger, it is so good to see you.

0:50.4

These are always the highlight of my week. So yeah, this is going to be fun.

0:54.1

Yes, and I know we're both feeling very happy and relaxed because we just got back from trips.

1:00.5

Yeah. Right? Yes, I know I I talked about a couple trips that I was taking so took a big trip to Colorado and then I actually just did another roller coaster trip with my daughter Anna so that's been fun. Yeah that's basically the last two weeks now so I definitely want to go into it but you are now a cruiser.

1:20.4

It's what I hear from you. Yes, yeah, we just got back from our Alaskan cruise.

1:25.0

It was a seven day adventure and we went because it was on my husband's bucket list so I was like very happy to go but it

1:35.4

wasn't like a thing that I was dying to do but then it turned out I loved it it was

1:40.3

so great so yeah it was it was one of those things I wanted to kind of talk about it a little bit because it's one of those things that we really weren't able to optimize.

1:50.6

You know, we just had to like hand over a bunch of cash because points don't work with that kind of thing

1:55.9

but we're like okay well we're gonna do it one time but there were so many advantages and one question I really had was okay our child is eight is this

2:04.9

really the right time is this a you know gonna be a good fit for him and it was so

...

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