ChooseFI

ChooseFI

Chris Terrell shares his personal journey with electric vehicles (EVs) and discusses the financial implications of owning one. Highlighting key incentives like the Inflation Reduction Act and the benefits of home charging, the conversation delves into the affordability, practicality, and simplicity of EV ownership, providing insights for financial independence enthusiasts contemplating the switch to electric. Chapters 00:01:08 Introduction  Host Brad and guest Chris Terrell discuss the transition from gas vehicles to electric vehicles, emphasizing the financial independence perspective. 00:03:45 Benefits of EVs Chris highlights the increasing affordability of EVs, the practicality of home charging, and the advantages of a growing used car market. 00:22:33 The Impact of Inflation Reduction Act Chris explains the significance of the Inflation Reduction Act and how it provides substantial tax credits for new and used EV purchases. 00:40:21 Cost Comparison: EV vs. Gas In-depth analysis of the total cost of ownership, showcasing the long-term savings on fuel and maintenance. 00:51:31 Charging Options Discussion on the various charging methods for EVs, including level one and level two charging, and their impact on daily use. Key Takeaways: EV Affordability: The market for EVs has become more accessible; prices are declining with incentives, making EVs a viable option for many. Inflation Reduction Act: Offers up to $7,500 in rebates for new EVs and $4,000 for qualifying used EVs, significantly reducing upfront costs. Home Charging Benefits: Charging at home can lead to savings of approximately $8,000 on fuel costs over time compared to traditional gas vehicles. Lower Maintenance Costs: EVs generally require less maintenance, resulting in lower expected repairs and upkeep versus gas-powered vehicles. Used EV Market Growth: With the depreciation of EVs, many used models are available at prices significantly lower than new models, sometimes under $25,000, making them eligible for the $4,000 tax credit. Actionable Takeaways: Consider an EV: If you can charge at home, an EV can be a smart choice financially. Look for Used EVs: Take advantage of the growing used electric vehicle market and potential tax credits to save on purchase price. Calculate Savings: Before making a decision, calculate potential savings on fuel and maintenance based on your driving habits.

January 20, 2025

ChooseFI

Laura, a 51-year-old associate professor in genetics, shares her transition from academia to early retirement amidst pandemic challenges and personal introspection regarding identity, financial planning, and emotional adjustments.

January 13, 2025

ChooseFI

Author Jordan Grumet discusses differences between 'big P' vs. 'little p' purpose, emphasizing joyful activities in everyday life and using insights from past regrets to find 'purpose anchors.' Strategies for creating a fulfilling life include scheduling joyful activities and making a weekly happiness list.

January 06, 2025

ChooseFI

Explore creative alternatives to cut spending, embrace life as an experiment by identifying your '4 F’s' (Family, Friends, Faith, Fulfilling Work), and conduct a 30-day no spend challenge for mindful financial decisions.

December 30, 2024

ChooseFI

Listeners share their financial success stories and insights on topics like defining Financial Independence (FI), prioritizing experiences over possessions, early financial education, effective cash flow management, maximizing retirement accounts, taking control of finances later in life, and finding clarity through entrepreneurship.

December 23, 2024

ChooseFI

Brad shares insights from his life-changing trip to Asia emphasizing the importance of human connections, taking risks for personal growth and the upcoming changes at ChooseFI including community engagement, expert interaction. Also mention is made of Southwest flight changes and the significance of automating personal finance.

December 16, 2024

ChooseFI

Join Brad Barrett and a panel of community members as they explore the transformative experiences at the FI Freedom Retreat . This episode dives into the importance of community connection, personal growth, and designing a balanced life centered around financial independence. Highlighted stories emphasize overcoming fears, embracing sabbaticals, and discovering that the journey to financial independence involves much more than numbers. Key Takeaways: Importance of Community: Financial independence is not just about numbers; it's about building connections and designing a fulfilling life. 00:05:05 Sabbaticals Lead to Renewal: Taking extended breaks can help reset priorities and foster personal development. 00:17:00 First Impressions Matter: Newcomers often arrive with misconceptions, thinking events only focus on finances instead of personal exploration. 00:12:55 Finding Your Tribe: Engaging with the FI community can redefine how you connect with yourself and others. 00:06:47 Timestamps & Topics: 00:05:00 Community Connection Discussion The significance of finding like-minded individuals at FI events. 00:12:00 First Timer Experience with Viji Evers Viji shares her initial misconceptions about the FI community. 00:15:33 Sabbaticals and Life Changes with Shawn Shawn elaborates on how taking a sabbatical allowed personal rejuvenation. 00:26:45 Business Adjustments for Travel with Christine Wheatley Christine discusses the challenges business owners face when trying to step away. 00:39:10 Reflecting on Personal Identity with Susanna Susanna shares her journey from being a physician to embracing life beyond work. Key Quotes: "Money does not make you happy. It does make life easier." 00:08:31 "Finding your tribe can be life-changing." 00:06:47 "Just do it. Absolutely worth it." 00:15:11 "Community leads to crafting your best life." 00:05:05 "Prepare for the worst; aim for the best outcome." 00:45:54 Consider Negotiating a Sabbatical: If you're feeling burnt out, take time to explore this option. 00:17:19 Reach Out to Local FI Groups: Find a supportive community near you to enrich your FI journey. 00:09:29 Discussion Questions: What does community mean to you in your journey to FI? 00:06:30 How can taking time off impact your personal and professional life? 00:17:00  

December 09, 2024

ChooseFI

Katie Donegan discusses her journey towards financial independence (FI), sharing struggles as a resistant partner, impact of Mr Money Mustache, maintaining balance between expense and enjoyment, emotional adjustments to freedom, the danger of comparison culture, power of vulnerability, and overcoming perfectionism.

December 02, 2024

ChooseFI

Debtor couple Kyle and Jamie Holmson share their story about paying off $123,000 in medical student loans over 3 years by living below their means, prioritizing relationships, focusing on health through simplified workouts, and discovering joy. They emphasize maintaining balance between financial goals, relationships, and experiences while simplifying finances.

November 25, 2024

ChooseFI

Discussion on investing without a 401k (traditional IRA & HSA), managing sequence of returns risk in retirement, real estate investment considerations, importance of employer matches, & diversifying financial accounts.

November 18, 2024

ChooseFI

Justin David Carl discusses his journey from debt to financial independence, emphasizing environment, community, accountability, tracking metrics, and a growth mindset; he also shares tips on overcoming personal challenges, hiring coaches, managing resources, and continuous growth.

November 11, 2024

ChooseFI

TJ discusses his journey to financial independence, emphasizing intentional savings, net worth tracking, community support, flexible planning, positive mindset, and regular financial discussions with partner, facing challenges such as unexpected medical expenses.

November 04, 2024

ChooseFI

Clint Murphy shares his 'FI and Choose' journey emphasizing community and personal growth in financial independence events, the power of vulnerability to foster deeper relationships, finding joy through low-cost activities like pickleball, and aligning life choices with simplicity. Key topics: connection through FI, the power of vulnerability, simplicity & enjoyment, and the philosophy of FI and Choose.

October 28, 2024

ChooseFI

This podcast discusses capital gains harvesting, a strategy to minimize taxes on investments and potentially achieve tax-free income. Key takeaways include understanding your capital gains tax rates, using this technique for optimal selling times, and planning retirement income to maintain health insurance eligibility.

October 21, 2024

ChooseFI

Brad and Dean Turner share practical tips on building muscle for health, simplifying techniques for beginners & experienced fitness enthusiasts, role of proper form & customizing workout routines based on schedules, importance of progressive overload, recovery, nutrition, rest times in maximizing gains.

October 14, 2024

ChooseFI

Cybersecurity expert Tom discusses social engineering scams like 'Pig Butchering', investment frauds, cryptocurrency risks and AI-driven advanced scams. He provides actionable steps to protect oneself and family from such threats, emphasizing the importance of spreading awareness.

October 11, 2024

ChooseFI

Discusses personal finance journey of Jeremy Schneider from complex early investing mistakes to simplicity and automation of Nectarine, discussing the pros and cons of dividend vs reinvesting, the dangers of over-complicating investment strategies, and differences between fiduciary financial advisors and those incentivized to sell products.

October 07, 2024

ChooseFI

Discussion on starting early with financial independence (FI), evaluating the 4% rule for living off investments in retirement, understanding retirement accounts difference and tax strategies for young investors, house hacking and real estate investment risks, maximizing income, safe withdrawal rates and creating dividends.

September 30, 2024

ChooseFI

Discussion about downsizing, CoastFI, redefining goals in midlife, mini-retirements, gratitude, overcoming attachment to material possessions and experiencing community transitions, with Anne sharing her personal journey.

September 27, 2024

ChooseFI

In this episode, discuss financial independence journey including overcoming challenges, tax strategies in retirement and health insurance for early retirees, real estate capital gains, travel hacks for optimizing family cruises, the concept of 'doing hard things', and listener success stories.

September 23, 2024