Radical Personal Finance
144-Friday Q&A: Can I Retire With $1.4M, What Do I Do With Too Much Cash, and Should I do a Roth 401(k) or Traditional 401(k)?

Today, I bring to you three very fun but straightforward questions. Here they are:

Question #1: @01:56

Dear Joshua, 

My wife and I are well read in the areas of index fund investing, frugal living, early retirement, and financial independence (including your podcasts).  We have been on the path to early retirement for many years and we think we are there.  We both have high stress jobs and want to quit to raise a child and do whatever interests us whether it brings additional income or not.  We want to have a significant financial cushion, but also don’t want to be so conservative that we work years longer than necessary.  We are worriers and are very conservative in our estimates.

Although we are fairly confident in our calculations for early retirement timing, we hired a fee only financial planner for an outside opinion, and the experience was positive, but we believe the timing recommended was extremely conservative (4 years from now without a child; 5-6 years from now with a child).  We have a very good handle on our spending as we have been tracking it closely for several years.

The financial planner did not seem to understand our frugal lifestyle and rather than reducing our current spending by the “cost of working” that we clearly communicated, he added $15,000 per year to our current spending, which significantly changes the projections for retirement.  The explanation given was to account for “unexpected expenses”, but that amounts to >$20,000 per year in excess of our retirement spending estimate below.  We would be very grateful for your opinion of our plan to retire NOW, given the following data, which we have abbreviated to the most important points.

Ages: Him-45, Her-37

Debts: None (own a house and 2 cars free and clear)

Assets ($1,300,646)
$714,200 – His/Her TSP (Federal 401k)
$347,554 – Taxable Account (Vanguard Index Funds)
$216,165 – Cash/I-Bonds
$22,727 – His/Her Roth IRA
$31,000 – His Pension (starting at age 60)
$6,000 – Her Pension (starting at age 62)
(Minimum of $100,000 net after moving and downsizing our house – not included in assets total above) 

Asset Allocation:
40% Total US Stock Market (Vanguard/TSP Index Funds)
12% Total International Stock Market (Vanguard/TSP Index Funds)
33% Bonds (TSP G Fund)
15% Cash (CDs)

Spending:

Current Spending: $45,000
Retirement spending estimate $37,000
*This is after removing the easily calculated “costs of working” ($10,000 in property tax!; $3,000 in gas!) and adding estimated cost of health insurance ($5000?)
Note: We will be moving from a very high cost area (suburban Chicago) to a very low cost area (rural Florida)

Question #2 @26:20

Joshua,

Came across your podcast and dig the advice/honesty.

I've read numerous articles encouraging the use of fee-based financial advisors but haven't had a lot of luck finding the right person.. discouragement set in after numerous canned responses/what seemed like aggressive sales tactics.

I made somewhat of a half ass attempt in my early 20s with regularly maxing out a roth/always contributing enough to various company 401k to get the contribution match.

I've not paid a lot of attention and recently realized I'm holding roughly 50% of my total assets in a standard savings account yielding only 1%.

Without pulling the actual figures that'd be ~90k in retirement accounts Roth/Traditional rollover and ~90k in straight up cash... terrible I know.

My question is how do i fix/prevent it? I currently have one investment property with a mortgage that's less than what it's leasing for.

I see a couple fix it options:

Buy another house 

Pay down existing mortgage

Invest outside of a retirement account

I believe adjusting my 401k contribution may be a start to preventing it but what about after I max it out?

I don't mind paying for advice but what I really want is someone that's hands on/up to date.. helping me get the most out of my money.

Question #3: @46:37

Joshua

My name is Joe and I’m 24 years old.  I’ve been listening to your show for a while now and really enjoy it, keep up the good work.

My question has to do with whether or not a Roth 401k is the right move for me.  Currently my gross income is $58,616.  This year, I’ve contributed 6% of my AGI into a regular 401k and my employer matches .80 cents on the dollar up to the first 5% of my pay. ($3,517+$2,344 = $5,861)  I also contribute to my Roth IRA and will max it out at $5,500.

My employer just recently began offering a Roth 401k option and my question is whether or not it is the best move for me to make to begin contributing to the Roth vs the regular 401k?  I understand the tax benefits on the front end at my young age and do believe taxes will rise in the future and also that I will hopefully be in a higher tax bracket in retirement than I am now.  In my mind, the advantage of the Roth is the higher contribution limit (18k vs 5,500) but the advantage of the Roth IRA is I have it at Schwab and have lower fees and more investment options than inside my 401k.  I would like to keep my net take home pay the same and am having trouble running the math to figure out which would be the better option.  In addition, I have the option to do a Roth 401k conversion on the $12k that’s in my Regular 401k.  Your advice would be much appreciated.  

About me:

Assets: $27k in Roth IRA, $12K in 401k, $3k in taxable investment acct, $6K in savings acct, $2k in checking acct

Debts: $41,200 Federal Parent PLUS @ 7.65% and $16,500 @ 5.25%. I currently am on the standard repayment plan (10 yrs) and make an extra $100 payment each month on top of that. No credit card debt or any other type of loan, own a 2005 Camry that is paid off.

***

Enjoy the show!

Joshua

Direct download: RPF0144-Friday_QandA.mp3
Category:podcast -- posted at: 6:26pm MST

143-Intro to Self-Directed IRAs: How to Invest In Real Estate, Tax Liens, Physical Gold and Silver, Structured Settlements, Horses, Livestock, Farmland, Timberland, and More In Your IRA

I've been looking for an expert on self-directed IRAs to bring on the show and I was thrilled to meet Kirk Chisholm at FinCon last year.

Kirk is an expert in both the self-directed IRA niche and the alternative investments world. His firm, Innovative Advisory Group, helps serve clients in this space with advice.

Self-directed IRAs can be a powerful tool in your arsenal. Just think of the magic of Mitt Romney's $100,000,000 IRA!

When you combine an IRA with alternative investments, you might really be able to work some magic.

What is an Alternative Investment?

Well, right from Kirk's site: "The term “alternative investment” has become a trendy term in the financial services industry to describe new approaches to investing. It is frequently used to describe different asset classes or investment types such as: hedge funds, structured products, managed futures, or even Timber REITs. If you describe traditional assets as stocks, bonds and mutual funds, then by contrast everything else is an alternative investment.

"We look at the term “alternative investments” differently. We take a step beyond the current industry definition and use it to describe assets or investments such as physical real estate, tax liens, physical gold and silver, structured settlements, horses, livestock, farmland, timberland, and more. We would characterize alternative investments as an asset or investment which is: not publicly traded, has a low-correlate to most traditional investments, is too small for institutional investors, is illiquid, is not easily able to be securitized, or is not reliant on the publicly traded markets to be profitable.

"The characterization of what is a suitable asset for diversification purposes is a fluid concept. Some asset classes, which have traditionally provided a low or negative correlation to other assets, have become much more highly correlated since early 2000. Asset classes such as managed futures, timberland, farmland, and certain types of hedge funds in the past did provide a low correlation to the traditional markets, however, due to a higher level of institutional interest in these areas, as well as changing market conditions, they have become more highly correlated to traditional markets. This minimizes the effects of diversification as a risk management tool."

This interview is super fun and super deep.

Enjoy!

Joshua

Links:

Direct download: RPF0143-Kirk_Chisholm_Interview.mp3
Category:podcast -- posted at: 8:38pm MST

142-One Possible Business Model For an Ethical Financial Planning Practice Serving Middle-Income Families

I designed a potential financial planning practice structure a year or so ago. It has been my backup plan if Radical Personal Finance were unable to be financially productive. (It's probably still a backup of a backup.)

In light of the Episode 139: "My Advice for People Interested In Getting Into Financial Planning," I decided to follow up with some specific ideas for a practice I considered creating.

Here are my ideas. 

The show includes a discussion of:

  • The problem of providing planning for middle-income households
  • The idea of a planning model for a monthly fee
  • How to align advisor and client incentives
  • The benefits of a virtual financial planning meeting
  • The importance of having a clear marketing plan for your practice
  • Ideas for building trust
  • The importance of demonstrating expertise
  • The importance of a niche market focus
  • Limitations on income with this model

Enjoy the show!

Links:

Direct download: RPF0142-Proposed_Financial_Practice.mp3
Category:podcast -- posted at: 8:13pm MST

141-Establishing a Success Mindset In Preparation for Urban Farming: Interview with Curtis Stone

The most popular episode--by a long shot--of the Radical Personal Finance podcast is Episode 40: "Making $80k on 1/3 Acre With an Urban Farm Without Owning Land? Yes, Please! Interview With Curtis Stone."

Today, Curtis is back for another appearance.

We set out to record a show with a basic overview of how to get into urban farming with some practical steps lined out.

The first step is to get your mindset right. Although our interview got stuck on step one, it wound up being a fascinating discussion of business principles.

We discuss:

  • Setting intelligent goals for urban farming
  • Focusing on a triple bottom line: 1) economic 2) social 3) environmental
  • The value of education and especially specific, focused education

I hope you enjoy!

Joshua

NOTE: Curtis is on the road over the coming weeks with seminars in Florida, California, Washington, British Columbia and Mexico. Details are here: http://www.greencityacres.com/events/

Links:

Direct download: RPF0141-Curtis_Stone_2nd_Interview.mp3
Category:podcast -- posted at: 7:19am MST

On Fridays, I answer your questions! And, even though this is going out on Monday, I still answer your questions! :)

Today, I handle these four questions:

  1. What practical steps can a couple take when planning for one spouse to stay at home?
  2. Is it wise to borrow money on a paid-off house to fund a real estate investment?
  3. How should I factor a defined-benefit pension plan into my asset allocation plan?
  4. How should I set my personal financial goals and pull my life back together after a divorce?

Enjoy!

Joshua

 

Direct download: RPF0140-Friday_QA_Marriage.mp3
Category:podcast -- posted at: 8:05pm MST

At this point, I'm honored to get about an email a week from someone asking about how to get into the financial planning business. Sometimes, I get multiple emails in a day!

Here are four examples that I mention on the show today:

  • Hi Joshua, I consider personal finance and financial planning a hobby and I dole out my amateur advice to friends, colleagues and family. A little bit of background -- I'm 25 years old and currently working as an auditor in big 4 in my third year and I've just been early promoted to Senior Associate.  The thing is I don't see myself auditing forever and I really want to get into financial planning.  My plan is to start taking the courses for the CFP in May/June 2015 after my busy season is over.  I feel secure in my job but I just don't love it.  Do you have any advice for a 20 something wanting to transition to a career in financial planning with zero experience?
  • Hi Joshua, I’m writing because I’d love to get your insight in a career as a financial advisor.  A little background on myself, I’m a 28 year old CPA who has worked as an auditor at a large CPA firm for the past 4 years.  I’ve been thinking about making a career change, and given my interests I’ve begun looking into possibly starting a career as a financial advisor.  I really enjoy the technical side of financial planning, including the tax side of planning, but am also enjoying learning about the investing side as well. In talking with a few other people, I have heard that being a financial advisor is basically a sales job where you are asked utilize your own contacts to push financial products on.  What I have heard is basically the only way to make money is to have rich friends or family to get established.  I really like the fact that I could be helping people, but the cold calling/pushing financial products on people does not sound appealing.   Also, I don’t believe I have the wealthy contacts needed to get established. I would love to get your insight on this matter, and to hear if the stories I hear about careers as a financial advisor are correct.  Additionally, I would love to hear any recommendations you would have for somebody looking to get into a career as a financial advisor.
  • Hi Joshua, In 2013 I became completely obsessed with all things finance. I first picked up books about "stock picking" because I thought that was the way to go, but within a month or two I was recommended The Intelligent Investor, and I've been going with the "boglehead" strategy since then. I have been very lucky in getting a job straight out of college that pays quite well (software industry) and since I started in July 2013 I've saved 70-80% of my take-home income. I figure within 2015 I will become "FI" at age 25. I've been listening to your podcast daily since I discovered it last month, and needless to say it has quickly become my favorite podcast. Keep up the awesome work, I listen to every new episode! I am interested in becoming a fee-only financial planner. Every time I get the opportunity to talk with someone who is also interested in finance (believe me, this is super rare!) I get very excited. Nothing makes me happier, basically. I have a bachelor's degree in Computer Engineering right now. I am wondering, what is the shortest path that I could take to get to the place where I can "hang out a shingle" and start advising people for a small fee? I am not interested in charging for "assets under management"; I simply want to share knowledge with people so they can make their own investments and financial decisions. I want to do the opposite of most advisors basically! I'd be okay charging very little money for just a consultation, because I will be FI. You mentioned in one episode that you got a master's degree in financial planning, and I know you need the CFP certification. With just my bachelor's degree, could I get this CFP and start taking clients? Or would I need other certifications as well?
  • Hi, Joshua, I have realized over time that I am a poor candidate for the traditional early retirement, and instead, would like to focus my next 15-17 years (roughly age 52-67) on doing something that I like--be it an administrator in a medical business that I believe in, being a health coach for middle age guys trying to get back into shape, or opening a gelato shop in my neighborhood. Actually, my dream job would probably be selling tickets in a booth at a ski resort! Maybe later... I have also thought about becoming a personal finance coach or advisor for docs. I see them make stupid mistakes all the time. I could probably do a series of podcasts on stupid things my partners have done. 

It's a great question and there are a bunch of ways to answer it. I decided for today to focus on the big picture answer which is primarily about having a good fit between your skills, your firm, your firm's abilities, and your prospective clients.

I might do another show on the actual steps needed to set up a firm if you want to do it independently.

In this show I go through:

  • Historical practice models for financial planning
  • Current practice models
  • The importance of sales and sales skills
  • Why you need to know what you bring to the table as a planner
  • The importance of a great marketing plan
  • The importance of a solid transition plan
  • The importance of gaining clarity on what you want to do, who you want to work with, and how you want to work with them

Enjoy!

Joshua

 

Direct download: RPF0139-Advice_for_Getting_Into_Financial_Planning.mp3
Category:podcast -- posted at: 4:00pm MST

We're continuing our college series with an in-depth discussion of 529 plans.

529 plans are incredibly popular in all their permutations. (Many people who are currently participating in a 529 plan don't actually realize it because they refer to it as a pre-paid tuition program.)

They're also under attack. President Obama's most recent budget proposal targeted them for change. (It also targeted Coverdell ESAs.)

Personally, I think 529 plans are often misused and mis-applied. The majority of the mass affluent who participate are simply not getting a huge benefit in exchange for giving up the freedom and flexibility of the money.

But, there are a number of things that can be done with these accounts that are really unique.

Enjoy part 1 of our class today and learn:

  • What the differences are between various types of 529 plans.
  • Who they're a great fit for.
  • How to use them to pay for travel and real estate tax-free.
  • The history of the legislation affecting these accounts.

Enjoy!

Joshua

Links:

Direct download: RPF0138-529_Plans_Pt_1.mp3
Category:podcast -- posted at: 1:02pm MST

137-Ideas To Make More Money on the Side: Interview with Nick Loper from Side Hustle Nation

As we rattle around and around the iron triangle of wealth (income, expenses, and intelligent use of the difference), we come today to the topic of income. Specifically, how can you create some extra income?

The world is changing and there are more opportunities to earn some money from a side project than ever before. No longer are you limited to throwing papers early in the morning or delivering pizzas in the evening; now, you can work in all kinds of interesting ways with people from all over the world.

Listen to today's show and enjoy some of the ideas. But, if none of the ideas appeal to you, use them as a jumping off point and create your own idea.

Enjoy!

Joshua

Links:

Direct download: RPF0137-Side_Hustle_Nation_Interview.mp3
Category:podcast -- posted at: 3:54pm MST

We need to get into some economics today and I'm going to do some prognosticating. This is a very rare event on the show, so here goes!

Prediction: there will be a global recession in the future. And gas will go up to $20/gallon.

Now that we have that out of the way, let's talk about what we can do to get ready for it! After all, that's the only thing that likely matters to you or me.

One of the keys to being financially successfully over the long term is to avoid the big mistakes. One big mistake (of many) might be getting laid flat by the coming recession and increase in gas prices.

Today I share with you some thoughts on some of the things you can do today to prepare for this eventuality.

I hope these ideas are useful to you!

Joshua

Links:

 

Direct download: RPF0136-Gas_Prices.mp3
Category:podcast -- posted at: 3:14pm MST

135-Be Confident in Your Unique Offering and Then Stick To Your Knitting

Today's show is a bit of a pep talk--for you but also for me! 

We are taught by society to compare ourselves with other people. Even though we're all supposed to be "unique and different, we're really not. After all, we're measured on our weight as a baby (compared to all other babies), our grades as a student (compared with our class ranking), and the amount of money we make and have (thus defining us as successful)!

Well, let's challenge that a bit. Sometimes we need a reminder to forget about what everyone else is doing and focus on what we're doing and why we're doing it.

Join me today for a bit of a pep talk. I hope you find it encouraging. I was encouraged as I created the show.

Joshua

Here are the influences on today's show:

  1. Farnoosh Toorabi's new podcast.
  2. This chapter in Richard Feynman's book: "The Chief Research Chemist of the Metaplast Corporation.
  3. Gary North's publication today of his free new book "The Covenantal Structure of Christian Economics."

 

Direct download: RPF0135-Be_Confident.mp3
Category:podcast -- posted at: 2:39pm MST

134-Q&A: Incorporating in California vs. Wyoming (or Nevada or Delaware) and How to Decide Asset Allocation for an Investor in Sri Lanka

Q&A continues with two very interesting questions today:

  • 2:30 "Should I incorporate my business in California or in Wyoming? Also, for my son, should I establish a corporation for my 16-year-old son?"
  • 33:26 "I live in Sri Lanka and have some money saved. How should I decide my asset allocation strategy?"

Enjoy the show!

Joshua

Direct download: RPF0134-QandA_on_WY_Corp_and_Sri_Lanka_Inv.mp3
Category:podcast -- posted at: 11:58am MST

133-Q&A: Paying off Your Primary Mortgage With a HELOC (Mortgage Acceleration) and How Save is My Deferred Comp Program?

We're continuing our Q&A series this week and today I handle these two questions:

  • 00:01 Melissa heard about an idea of using a HELOC to pay off your primary mortgage as a method of paying off the loan faster and saving interest costs. This was referenced in the book "Master Your Debt" and the website TruthInEquity.com.
  • 38:13 Robert asks about the safety of the deferred comp plan that he and his wife participate in at her Fortune 500 Public Utitlity company.

Enjoy the show!

Joshua

Direct download: RPF0133-QandA_on_HELOC_Strategy_and_Deferred_Comp.mp3
Category:podcast -- posted at: 3:02pm MST

132-Q&A: Thinking Through Buying Life Insurance on Your Kids' Lives and Clarification on 72(t) Substantially Equal Periodic Payments for Retirees

When I started recording the show, I planned to answer six questions. But, after finishing the first question and realizing how in-depth the show would be if I covered all six in one show, I decided to break it out into multiple shows.

Today, I cover these two questions:

  • 8:41-I'm thinking about buying life insurance on my two kids' lives. What do I need to know?
  • 47:53-Will it work for me to use the 72(t) rules to retire at 50 and then change the payment terms at 59.5?

Notes-Life insurance for kids:

  • This is one of the most controversial areas in finanancial planning so I'll try to fairly represent the various points of view.
  • It's tough to have a low-key discussion here because it's such an emotionally intense subject.
  • There are three major philosophies that I've discovered:
    1. Buy lots of life insurance to protect your investment in your kids.
      • Few people in the US will go for this one; much of the world will understand it though.
      • The reality is more and more of us will in fact be depending on our kids as we age due to many factors including the amount of savings most retirees have and financial challenges facing social security and medicare.
    2. Buy just the minimum amount of insurance to cover burial costs.
      • The problem here is that the rich and middle class don't really need it and the poor often don't think of it and can hardly afford it.
      • It's also simply not very high as a priority due to the relatively low risk. Consider this model: http://radicalpersonalfinance.com/do-i-need-insurance-a-mental-model-to-analyze-methods-of-dealing-with-risk-rpf0091/
    3. Buy some insurance for now and as a hedge for the future.
      • Hedge for the future with an Additional Purchase Benefit.
  • How to actually buy the policy?
    • The advice is conflicting.
    • People say to buy term policies for kids. But I've never been able to find a company that will sell a stand alone term product on a minor's life. (Let me know if you know of one, please.)
    • If you're buying a big policy (#1 above) and your child is over 18, it's easy. Buy an Annual Renewable Term policy for them.
    • If you're buying a big policy (#1 above) and your child is under 18, it's harder. If you want to get closer to term coverage, consider a stripped-out universal life policy. If you have the cash flow, go with a traditional whole life insurance contract. Make sure it's a contract that your kid will be happy owning forever. Shop carefully.
    • If you're buying a simple burial policy (#2), do it as a term rider on another policy. You can get these at work, bundled with a banking or property and casualty insurance product, or as a rider on your own term policy.
    • If you're hedging now and later (#3), buy a small whole life policy with an Additional Purchase Benefit. That way as health, hobbies, and occupations change, your child will be able to buy more insurance if necessary. Shop carefully.

Notes-72(t) Calculations

  • Use this calculator to get an indication of the numbers: http://www.dinkytown.net/java/Retire72T.html
  • IRS info: http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Substantially-Equal-Periodic-Payments
Direct download: RPF0132-Q_and_A_on_life_insurance_and_72t.mp3
Category:podcast -- posted at: 8:07pm MST

131-Filter Your Financial Advice Through the Lens of Scale

I read a lot of financial advice from many different perspectices. I also frequently am asked about financial advice. "Is this a good idea?" "What do you think about this investment idea?"

Over the years, I have noticed that I have developed a filter that many people don't have: I view all financial advice through a filtering lens of scale.

When I hear advice, I don't immediately accept is a blanket statement; rather, I think, "what type of household profile would this be appropriate for?"

When I talk to someone who's asking for financial advice, I try to ascertain where they are in their financial journey so I can give them the most appropriate advice.

Having this filter helps me to give advice that matters. It also helps me to coach myself more effectively by identifying where I am in my own journey so that I can focus on the things that are most appropriate for me.

In today's show I share with you many examples, including:

  • Buying large commercial real estate can be a great investment. But is it right for you? Should you be buying low-dollar mobile homes instead?
  • Investing in low-dollar real estate can be great. But is it right for you? Should you be buying larger commercial projects instead?
  • Investing in stocks of publicly traded companies can be a great plan. But is it right for you? Should you be investing in the tools of your trade or business so that you can be more effective at work?
  • Investing in the tools of your trade or business can be a great idea. But is it right for you? Has it reached the point of diminishing returns and now you'd be better served by investing in the stocks of publicly traded companies to get you closer to your financial goals?
  • Etc.

Enjoy the show!

Joshua

 

Direct download: RPF0131-Lens_of_Scale.mp3
Category:podcast -- posted at: 9:30pm MST

130-My Personal Development Plan for 2015

I like the change of the calendar year. It's a convenient time to sit down and take an inventory of where things are and assess the plans for where things are going.

2014 was an awesome year. It was certainly one of the more challenging times of my life and was filled with change of all types. But it was awesome.

2015 will be transformative. This year, I'll be heavily focused on stepping up my game and making everything I do to be world class.

I have plenty of goals. But for me, the end result of achieving a goal is less important than who I become on the way.

Also, since there's no way for me to achieve a lofty goal without developing as a person, I tend to focus less on the goal or outcome and more on the plan of what I need to learn and who I need to become.

In today's show I share with you some of my areas of focus for 2015 and some of the plans I have for my personal development.

Here are three of my areas of focus for the coming year coupled with some of my action plans for development as an example with resources:

  1. I am a world-class business owner.
    • In order to be a world-class business owner, I need to sharpen and hone my personal productivity skills.
    • In order to be a world-class business owner, I need to strenthen my habits in these areas:
      • Work from a list of prioritized importance.
      • Plan each day's work in advance.
      • Complete my weekly reviews, without exception.
      • Complete my comprehensive monthly reviews, without exception.
    • In order to be a world-class business owner, I need to establish new skills and a new comfort level with outsourcing and team building. I also need to focus on automation and systematization.
      • Chris Ducker
        • Read Virtual Freedom and implement/test ideas
        • Read his blog archives and implement/test ideas
        • Listen to his podcast archives and implement/test ideas
      • Sam Carpenter
        • Read Work the System again and implement/test ideas
        • Read his blog archives and implement/test ideas
      • Ari Meisel
        • Read Less Doing and implement/test ideas
        • Read his blog archives and implement/test ideas
        • Listen to his podcast archives and implement/test ideas
      • Tim Ferris
        • Read Four Hour Workweek, Four Hour Body, and Four Hour Chef again and implement/test ideas
        • Read his blog archives and implement/test ideas
        • Listen to his podcast archives and implement/test ideas
    • In order to be world-class business owner, I need to build new skills with Wordpress on my site and other aspects of internet business.
      • Wordpress
        • Look for Wordpress training and complete
      • Membership software
        • Look for membership software training and complete
      • Aweber
        • Look for Aweber training and complete
        • Look for email marketing training and complete
      • Screencasts and video production
        • Look for screencast solution and create presentations
  2. I am a world-class podcast host.
  3. Radical Personal Finance is a world-class financial education resource. 
  4. etc... (listen to the show!) 

Enjoy!

Joshua

Direct download: RPF0130-2015_Personal_Development_Plan.mp3
Category:podcast -- posted at: 11:14am MST

Teaching Canadians to be Financially Independent By Age 45: Interview with Timothy Stobbs, Author of Canadian Dream-Free at 45! RPF0129

As we begin a new year, I think it's fitting to start with a discussion of financial independence!

My desire for all of you is that you may experience financial independence as you define it and that you may establish a workable plan this year toward its achievement.

Tim Stobbs is right in the middle of his financial independence plan. After stumbling across the idea of early retirement/financial independence, he was awakened to the possibility that an ordinary person could achieve it. 

He set out a plan and started following it. He's now ahead of schedule!

Along the way, he wrote a book to teach others how to accomplish the same goal.

Topics include:

  • Tim's personal plan
  • Details on how to use Canadian retirement accounts to maximum effect
  • Flexible work schedules and alternative working arrangements
  • How financial independence (even partial) can lead to the easier achievement of other goals
  • How having savings impacts the ability to get better jobs

Enjoy the interview!

Joshua

Links:

Direct download: RPF0129-Tim_Stobbs_Interview.mp3
Category:podcast -- posted at: 7:14am MST

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