Getting Personal with Personal Finance: Brad & Ginger | Ep 533

ChooseFI

Brad Barrett | Choose FI Media

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

4.8 • 5K Ratings

🗓️ 10 February 2025

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ginger interviews Brad as they delve into the personal side of financial independence, focusing on the real struggles and triumphs behind the scenes of ChooseFI. The conversation emphasizes the importance of relatability and the idea that financial independence is accessible to everyone, not just experts. They discuss 'one more year syndrome,' the impact of financial independence on personal relationships, and how valuing experiences over material possessions enriches life.

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Key Topics Discussed:

Failing Forward
- Brad discusses the importance of learning from failures and how they contribute to growth and success.
Intentionality and Structure
- The significance of establishing structure in life after achieving financial independence.
Divorce and Financial Independence
- Brad opens up about his divorce and its impact on his life and financial dynamics.
Lessons Learned
- Life’s unpredictability can affect even the best-laid plans.

Key Insights:

Relatability in FI: financial independence can be achieved by average individuals, not just experts.
Small Changes Matter: "Small changes lead to extraordinary results over time." (00:07:01)
Money vs. Happiness: "Net worth enhances life but doesn’t guarantee happiness." (00:27:52)
The Importance of Minimalism: "Embracing minimalism has brought freedom." (00:55:22)

Actionable Takeaways:

Start identifying and making small 1% changes in your daily life that align with your financial goals. (00:07:15)
Consider your life expenses and multiply them by 25 to establish a clear FI number. (00:15:50)
Reflect on your spending patterns and prioritize experiences over material things. (00:25:00)

Quotes to Share:

"It's about being directionally accurate, like on a long enough timeline on a 10, 20, 30, 50-year timeline." (00:08:50)
"Your net worth will never make you happy; it will make your life better, but it will never, ever make your life happy." (00:27:52)
"Life can surprise you, even with the best plans." (00:41:12)

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, it's Brad. Before we get started with the episode, I wanted to pass along some incredibly
0:03.6	exciting news in the Chusify world. As we talked about on a previous episode, Jonathan has spent the
0:08.6	last couple of years building something incredible, and we actually just rolled it out. This is our
0:13.8	brand new Chusify member site. It's obviously entirely free to sign up for. We're hoping this
0:19.4	will take the place of our Facebook
0:21.2	groups, both for the main Facebook group and especially for our local groups. So how this is
0:25.9	going to work? You just go to our main homepage, choosefi.com, and you'll see front and center,
0:31.8	register, sign up for an account, log in. It's really, really easy. We made it as simple as
0:36.4	possible. So right now, Jonathan is building this in public.
0:40.4	Every single day, he posts an update with the 20 or 30 things that he updated from the last
0:44.9	day that people reported that, hey, I want to see this.
0:48.0	I'd love to see this new feature.
0:49.7	How can we do this?
0:50.5	This is the ultimate crowdsource personal finance website and community. We
0:54.7	finally built it. We've dreamed of this since 2017. We finally have the technology. We are not
1:00.9	beholden to Facebook anymore. We can actually send out events and you will get emailed notification
1:06.8	of it. So it's not just the 1% if you get lucky that Facebook shows you the notification.
1:11.9	Now for your local groups, when you sign up, you tag, hey, I'm a member of this local group.
1:16.2	And when your admin sets up an event, you will get email notified. So you can't possibly miss it.
1:21.8	This is so exciting. We already have thousands upon thousands of people that signed up just in the first
1:26.6	three days.
1:31.0	And I expect there to be tens of thousands before very long.
	...

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