Rank #1: Ramit Sethi - I Will Teach You to be Rich
Personal-finance icon Ramit Sethi from I Will Teach You to be Rich joins me for an episode of the Financial Independence Podcast!
Ramit first published his New York Times best-selling book, I Will Teach You to be Rich, back in 2009 during the depths of the financial crisis.
He just released the second version today so we discuss what’s changed in the last decade and also talk about FIRE (Financial Independence, Retire Early) – a concept that’s taken the financial world by storm in recent years.
This is the first time Ramit has talked about FIRE so it was great getting his opinions on it, especially since he’s often thought of as being on the opposite end of the financial spectrum (my first podcast guest, Mr. Money Mustache, has even jokingly referred to him as his “arch-rival in personal finance”).
Ramit didn’t hold back (does he ever?) so hope you enjoy this one as much as I did!
- What Ramit likes about FIRE (and what he doesn’t)
- When you should pay more instead of less
- How to cure yourself from extreme frugality
- Why you need to maximize for value instead of cost
- How to break out of the spreadsheet and start living life
Rank #2: Michael Kitces – The 4% Rule and Financial Planning for Early Retirement
One of the internet’s most-respected retirement researchers and financial planners, Michael Kitces, joins me for an episode of the Financial Independence Podcast!
You may remember that my Safe Withdrawal Rate post drew heavily from the incredible research Kitces has done on the topic so it was great to talk to him directly to dive even deeper into important topics related to early retirement.
During the interview, we discuss…
- Safe Withdrawal Rates and whether the 4% rule is still safe in the current market environment
- The unique challenges early retirees face that normal retirees don’t (and also some of the unique advantages early retirees have)
- How Michael tackles early retirement from a financial planning perspective
If you’re worried about figuring out how much you can withdraw from your portfolio after you retire, this episode is for you!
- Why Michael began researching safe withdrawal rates
- What the Shiller CAPE is and how it can be used to determine a better safe withdrawal rate
- Why the initial criticism of the 4% rule was that it was too low
- What would be a safe withdrawal rate to use today, considering current market valuations
- Human capital vs. financial capital and the advantages of having both
- How to find a financial advisor and what Michael would do if a client came to him with early retirement plans
- The biggest wild card that early retirees need to be concerned with that standard retirees don’t
Rank #3: Third Year of Freedom
I can’t believe it but it’s already been three years since I left my full-time job!
To commemorate this special anniversary and to recap the things I’ve learned during this last year of post-FI life (which happened to be the best one yet), I recorded a short podcast episode.
Rank #4: Mr. Money Mustache – Early Retirement Made Easy
Mr. Money Mustache shares his early retirement secrets in an interview for the new Financial Independence Podcast!
Mr. Money Mustache retired in his early thirties and has recently emerged as one of the most inspiring personal finance authors in cyberspace. His entertaining and informative articles, which can be found at mrmoneymustache.com, give you the “punch in the face” you need to get you on the right track to financial independence.
It was great having him in the Mad Fientist lab to talk about his path to financial independence so I hope you enjoy the discussion with him as much as I did!
To read the full article, visit http://www.madfientist.com/mr-money-mustache-interview/
Rank #5: Millennial Money - From Broke to Millionaire in 5 Years
On today’s episode of the Financial Independence Podcast, my buddy Grant from Millennial Money joins me to talk about how he went from having $2.26 in the bank to $1.25 million in just 5 years, 3 months, and 6 days!
We dive into the strategies and tactics he used but we also go deeper and discuss some of the unexpected challenges of FIRE.
We also explore Grant’s new book, Financial Freedom, which is out today and features parts of my own story!
- Why you don’t need to hit FI or save a million dollars to get the benefits of saving
- How to make the most of your full-time job
- Why you should strive for peace instead of money or happiness
- How to find pleasure in mundane moments
Rank #6: JL Collins – The Simple Path to Wealth
JL Collins joins me on the Financial Independence Podcast to talk about stocks, bonds, real estate, and his brand new book - The Simple Path to Wealth!
- Origin of The Simple Path to Wealth
- What’s changed about his investment philosophy over the last four years
- Three simple steps to financial independence
- Difference between good debt and bad debt
- Why buying a house is an indulgence
- The only two funds you need and why you don’t need to invest in an international fund
- When should you invest in bonds and why the decision has nothing to do with your age
- The bad investing habits Jim and I still can’t shake
- The important lesson Jim learned from working with the top stock analysts in the industry
To read the full article, visit http://www.madfientist.com/jl-collins-interview/
Rank #7: Mr. Money Mustache – Early Retirement Made Easy (Rebroadcast)
To celebrate the 5-year anniversary of launching the Financial Independence Podcast, I've republished the very first interview I recorded back in 2012 with Mr. Money Mustache.
In addition to the original interview, this episode also contains an updated introduction that tells the story behind the interview!
- How Mr. Money Mustache and his wife retired in their early 30s
- Why he decided to start writing about financial independence
- The benefits of raising children after you’ve already retired
- What MMM likes most about early retirement
- Why you need to ride a bike
Rank #8: Scott Trench - Set for Life
On today’s episode of the Financial Independence Podcast, I’m joined by the president of biggerpockets.com and cohost of the BiggerPockets Money Show, Scott Trench!
Scott breaks down the journey to financial independence into three stages and explains what you need to focus on at each step (and why)!
- The three stages of wealth creation on the path to financial freedom
- Why it doesn’t make sense to worry about investing right away
- How to create a “financial runway” and use it to your advantage
- Why you should try to find a “scalable career”
- How to turn your biggest expense into an income-producing asset
- The one question to ask before buying your first house hack
- The multiple benefits of adding side hustles along your journey
Rank #9: JLCollinsNH – The Importance of F-You Money
In this episode of the Financial Independence Podcast, I interview Jim Collins from JLCollinsNH.com to discuss the importance of F-You Money!
- The Importance of F-You Money
- Surviving Black Monday
- Don’t “Swing for the Fences”
- Active vs. Passive Investing
- Why Vanguard?
- Three Simple Steps to Financial Independence
To read the full article, visit http://www.madfientist.com/jlcollinsnh-interview/
Rank #10: Camp Mustache – Q&A with Mr. Money Mustache, Afford Anything, & The Military Guide
Today on the Financial Independence Podcast, I’m excited to share a live Q&A session with Mr. Money Mustache, Paula Pant from Afford Anything, and Doug Nordman from The Military Guide!
This panel discussion took place back in May at Camp Mustache — an annual retreat in the Pacific Northwest organized by Mr. Money Mustache readers.
In this episode, you’ll not only hear about…
- Mr. Money Mustache’s biggest splurges
- The investing mistakes I still can’t seem to avoid
- Paula’s favorite thing about financial independence
- Doug’s suggestion for discovering the meaning of life
…, but you’ll also get varied and diverse perspectives on some of the most important questions facing those on the path to financial independence and early retirement!
- Top recommendations for people who are close to achieving financial independence
- How to stay motivated when pursuing FI
- What is the meaning of life
- How to foster a good online culture and community
- Tips and tricks to stop you from trying to time the market
- The biggest challenges of reaching FI and how to overcome them
- What we splurge on and why
- Mr. Money Mustache’s thoughts on being featured in the New Yorker
- How to handle changes in your relationships after reaching FI
Rank #11: Adventuring Along – From $0 to Retired in 5 Years
Want to know how two teachers were able to go from $0 net worth to retired in just 5 years?
On today’s episode of the Financial Independence Podcast, Ali and Joe (a.k.a. Arebelspy) from Adventuring Along join me to talk about how investing in real estate supercharged their progress to early retirement.
We not only dive into how they achieved financial independence in spectacular fashion but we also explore their equally impressive retirement so far. In the past year alone they have hiked the entire El Camino de Santiago, had a baby in Istanbul, Turkey, and published a romance novel!
- Dollar-cost averaging into real estate
- How to purchase real estate in a place you’ve never visited
- Best books for real estate investors
- Grasping the concept of ‘enough’
- Importance of challenging yourself after retirement (both mentally and physically)
- Cost of having a baby in Turkey
- How much money you can save by staying out of the United States
Rank #12: Radical Personal Finance – Part One
Listen to part one of my Radical Personal Finance podcast interview where I discuss frugality, travel hacking, and financial independence!
A couple of months ago, a guy named Joshua emailed me to ask if I’d be a guest on his new show – the Radical Personal Finance podcast. I agreed and we ended up having a very interesting two-hour conversation.
Since then, however, Joshua has been forced to take down his podcast (for undisclosed reasons) and since he’s not sure when he’ll be able to put it back up again, he has agreed to let me publish our interview here (thanks!).
I couldn’t bear to hear myself talk for a full two hours though so I decided to edit the interview down into two smaller parts and today, I am publishing part one.
It was great being on the other side of the interview for once so hopefully you enjoy hearing a bit about my personal journey to financial independence.
- Different Paths to FI
- Frugality and Sacrifice
- How to Have an Expensive Hobby
- Travel Hacking
- Slow Travel
To read the full article, visit http://www.madfientist.com/radical-personal-finance-part-one/
Rank #13: Your Money or Your Life – An Interview with Author Vicki Robin
I can’t believe it…
One of the founders of the financial independence movement, Vicki Robin, joined me for an episode of the Financial Independence Podcast!
Vicki and her partner Joe Dominguez wrote the book, Your Money or Your Life – a New York Times Best Seller that many people consider to be the bible of financial independence (the FI-ble?).
Your Money or Your Life is actually what inspired me to create the FI Laboratory many years ago.
Vicki has been a driving force in the FI community since the 1960s and has a wealth of knowledge and inspiring stories to share so hope you enjoy the interview!
- The story behind Your Money or Your Life
- How Joe was able to retire at the age of 31 in 1969 with $70,000 in the bank
- Why Vicki’s quest to change the world didn’t succeed (yet)
- How a stage-3 cancer diagnosis changed her plans
- What’s going to be different in the new version of Your Money or Your Life
- What she believes are the most important steps in the Your Money or Your Life program
- How the book’s investment advice has changed and what she is current investing in
Rank #14: Cal Newport – Deep Work, Digital Minimalism, and the Key to a Happy Retirement
On today’s episode of the Financial Independence Podcast, I’m very excited to introduce author Cal Newport!
I’ve been a huge fan of Cal’s writing for many years so it was a treat to get to talk to him.
We explore many important issues related to early retirement that aren’t often talked about so if you’re thinking about retiring early (or if you already have and are struggling to build the life that you envisioned before leaving work), today’s episode is a must-listen!
- Why pursuing your passion is overrated
- How to love your job
- What is “Focused FIRE” and why it’s likely the best option
- How to get good at something valuable
- Why you should replace relaxation with difficult, meaningful activity
- The importance (and increasing rarity) of deep work
- Why skillful management of attention is the key to a good life
- How to perform a digital declutter
- The importance of high-quality leisure activities
- Why technology could be ruining your personal life and how to stop it
Rank #15: JD Roth – Get Rich Slowly
J.D. Roth, creator of GetRichSlowly.org, joined me for the Financial Independence Podcast to talk about finding personal and financial freedom!
In less than ten years, J.D. went from having $35,000 of consumer debt to becoming a self-made millionaire.
On today’s show, J.D. shares what he’s learned over the past decade of writing about money and personal finance and describes how you too can find personal and financial freedom.
To read the full article, visit http://www.madfientist.com/jd-roth-interview/