Radical Personal Finance

In light of the previous show, I've received many questions about scanning all my books. Here's a replay of the show where I explain what I've done and why.

Joshua


Reading can provide you with all of the knowledge you need to crush some very large goals in a very short time.

But you need to know how to read effectively.

Today, I teach you how.

Joshua

Direct download: RPF0673-How_To_Read_A_Book.mp3
Category:podcast -- posted at: 5:11pm MDT

Listen to the show.

Joshua

Direct download: RPF0672-Create_The_Reality_You_Will_Live_In.mp3
Category:podcast -- posted at: 5:29pm MDT

If you were discharged from the military for cocaine use, would you be able to seamlessly move into a $600,000/year job?

If not, you should consider building your influence a bit more!

In today's show I'll give you some ideas to help you develop this influence.

Joshua

Direct download: RPF0671-Ideas_to_Help_You_Build_Social_Capital_and_Political_Influence.mp3
Category:podcast -- posted at: 11:51am MDT

Can you imagine starting a business when you've been laid off from a job and you have many young children in the house? My guest today, Tim Schmoyer, has done just that. And he has prospered through the process.

Joshua


1:00 Would you like to come to a 3-day seminar with fellow listeners?
10:11 How can I prepare for healthcare risk?
24:50 How do I calculate the financial costs/benefits of moving states?
35:30 How do I help my parents who don’t have much money build a retirement plan?
53:05 How can I market my physical product?
1:06:45 Should I use whole life insurance as the cash component of my permanent portfolio?
1:30:10 Should I put my life insurance policies into a trust?
1:47:10 How do I balance prepping and minimalism?

Direct download: RPF0669-Friday_QA.mp3
Category:podcast -- posted at: 8:59pm MDT

My guest on today's show moved from India to the USA as a young man. Starting with no money, he became financially independent in about 12 years.

In today's interview we dig into the strategies and tactics that worked for him.

Enjoy!

Joshua

Direct download: RPF0668-An_Immigrant_Success_Story-Broke_to_FI_in_10_Years.mp3
Category:podcast -- posted at: 5:00am MDT

In today's show, I have a special story for you of how my friend Anatole built a great life for himself, even though everyone hated him.

Enjoy!

Joshua

Direct download: RPF0667-How_To_Build_a_Great_Life_When_Everybody_Hates_You.mp3
Category:podcast -- posted at: 5:00am MDT

Today, we finish out the 3-part series on preparing for layoffs in the coming recession.

Today's show will be useful to you, even if you just got notice of your layoff and didn't do anything to prepare for it beforehand.

The major theme of today's show is that you need to take appropriate action with appropriate speed. If you're stuck with little savings and no preparation, that means take massive action, now! If you've planned a bit better in advance, it means be strategic and thoughtful.

We discuss:

  • The impact of self-confidence on your job hunt.
  • The importance of having work now and not being unemployed for a long time.
  • How to take massive action on your job hunt for quicker results.
  • What types of approaches are most successful for job hunters.
  • Some radical strategies you can plan for that will enable you to simply wait out and enjoy the recession instead of being stressed by it!

Enjoy!

Joshua

Direct download: REPLAY_RPF0194-You_Just_Got_Laid_Off.mp3
Category:podcast -- posted at: 5:00am MDT

Yesterday, we talked about ways to avoid losing your job in the coming recession. But obviously there are factors beyond your control which might result in your being laid off, even though you've done everything "right."

So, you need a backup plan.

Don't wait and wonder what you'll do. Make a simple plan now for what you'll do.

Think about some different scenarios and play some mental games with yourself. That way, you'll be able to better respond to events instead of being shell-shocked by them.

Today's show covers:

  • The importance of planning to avoid emotional stress when you get laid off.
  • The direct impact of losing your income and how to plan for it.
  • The impact that losing your group benefits can have on your financial life.
  • Why you should consider establishing lines of credit before you need them.
  • How you can stockpile both money and the simple necessities of life.
  • The simple things you can do that will make it much easier to get your next job.
  • The importance of proactively building and maintaining a network.
  • How thinking like a consultant will help you now and help you later.

Enjoy!

Joshua

Direct download: REPLAY_RPF0193-Backup_Plan_For_Layoffs.mp3
Category:general -- posted at: 5:00am MDT

Originally released May 13, 2015. And just as important today.

-------------------------------------------

For most of us, our jobs are the economic engine that drive every aspect of our financial plan. One of the worst things that can happen is to lose a job.

If the engine on your car dies, you're going to be stuck by the side of the road for a while. That's not pleasant for anyone, even if you're stuck in a safe area. But, if you're driving up a mountain (paying off debt and digging yourself out of a hole), having your engine die can be disastrous. And, if you have a destination in mind (financial independence), losing the engine in your car will at least delay you from reaching your destination.

So, the key is plan in advance to not lose the engine. Make sure you're doing the things you need to be doing now to avoid being laid off.

Obviously, you can't guarantee that you'll never be laid off, but you can do a lot to improve your possibilities!

On today's show, we cover:

  • The need to proactively improve your position within your company, your company's position within the industry, and your industry's overall prospects in advance.
  • Some ways to know if you've got a big target on your back or a small target on your back with the HR people are figuring out who to cut.
  • The importance of competing with your fellow employees and of collaborating and cooperating with them and why both are valuable.
  • Ways to stand out and produce up to 4x the output of your fellow employees.

Enjoy the show!

Joshua

 

 

Direct download: REPLAY_RPF0192-Dont_Lose_Your_Job.mp3
Category:podcast -- posted at: 5:00am MDT

It's official: the Yield Curve on US Debt is inverted. That's a pretty good indicator that recession is in our future.

So, today I want to tell you how to prepare for the coming recession.

Enjoy! And do.

Joshua

Direct download: RPF0666-How_to_Prepare_for_the_Coming_Recession.mp3
Category:podcast -- posted at: 5:00am MDT

1:30 How does Joshua use YNAB on a daily basis?
17:30 How has the pursuit of privacy cost you?
30:30 Should I have kept my inherited property as separate property instead of community property?
43:00 How can I get started prepping?

Direct download: RPF0665-Friday_QA.mp3
Category:podcast -- posted at: 4:17pm MDT

I'd like to invite you to meet up with me on Tuesday, September 3 in Washington, DC, USA. If you'd like to connect, please email me and I'll give you all the details.

Email me: joshua at radical personal finance dot com.

Joshua

Direct download: Meetup_in_Washington_DC_September_3.mp3
Category:podcast -- posted at: 5:00am MDT

It seems like many of the prominent voices in the FIRE movement are single individuals or childless couples. But many of us have children or want to have children. Does that mean that we will fail in our attempts to become Financially Independent? Are you doomed to choose between FIRE or children?

Today, I'll give you my answers. (Spoiler: you can FIRE and have children too!)

Joshua

Direct download: RPF0664-Can_You_Become_Financially_Independent_If_You_Have_Children.mp3
Category:podcast -- posted at: 3:04pm MDT

We live in interesting times. It seems that most of us could list off several things that our government does with our tax money that we find offensive. But how should Christians deal with the morality of having their tax money used to support immoral activity? Should Christians participate in tax strikes and tax protests?

Joshua


A listener wrote in and essentially asked, "Why is Joshua so anti-tax?" So, I thought I'd give that question a crack for you.

Joshua

Direct download: RPF0662-Why_is_Joshua_So_Anti-Tax.mp3
Category:podcast -- posted at: 12:53pm MDT

I want you to use more cash so you can get richer, faster.

Joshua

Direct download: RPF0661-Back_to_Basics-The_Power_of_Cash.mp3
Category:podcast -- posted at: 5:00am MDT

I want you to understand the basic problem with debt so that you'll be prepared to avoid it.

Joshua

Direct download: RPF0660-Back_to_Basics-The_Problem_With_Debt.mp3
Category:general -- posted at: 5:38pm MDT

I've talked a lot about education over the years...in this episode I'll tell you what we're doing with our children and talk about some philosophies that have been influential on me. And I'll tell you what I got wrong in the past.

Joshua


There is a natural symbiosis between prepping and mainstream financial planning. Here's why.

Joshua

Direct download: RPF0658-The_Natural_Symbiosis_of_Prepping_and_Financial_Planning.mp3
Category:podcast -- posted at: 5:39pm MDT

A key to life change is behavior modification. And mental money games can help you get there.

Joshua

Direct download: RPF0657-Mental_Money_Games_to_Change_Your_Behavior_for_the_Better.mp3
Category:podcast -- posted at: 4:08pm MDT

Ask your average financial advisor how to invest for your children's future and he'll likely start pulling out brochures for a 529 plan.

B-O-O-O-O-R-I-N-G!!!

Is there anything wrong with a 529 plan? No.

But is that really the most effective use of your money?

Only if you don't have any better ideas.

So let me give you some to ponder! Here are 12 Much More Interesting™️ Ways to Invest In Your Children!

Joshua

p.s., Go here and buy something so I can do this stuff for my children! https://radicalpersonalfinance.com/store

Direct download: RPF0656-12_Ways_to_Invest_in_Your_Children.mp3
Category:podcast -- posted at: 3:34pm MDT

It's Friday! That means live Q&A.

Enjoy!

Joshua

Direct download: RPF0655-Friday_QA.mp3
Category:podcast -- posted at: 9:13pm MDT

Today we discuss Qualified Opportunity Zones, a legitimately new way for you to potentially save on capital gains taxes.

Joshua


There is an important piece of legislation that has passed the House of Representatives and is being considered in the Senate. It's technically known as H.R. 1994 "Setting Every Community Up for Retirement Enhancement Act of 2019."

It has some changes that are potentially helpful to you; and some that may destroy the value of your qualified accounts.

Joshua


How do you balance the Costs of Living with your Quality of Life when you're thinking about moving out of your home country?

Let's discuss!

Joshua

Direct download: ZOOM0001_Tr1-Cost_of_Living_vs_Quality_of_Life-auphonic.mp3
Category:podcast -- posted at: 4:36pm MDT

In order to build wealth over your lifetime you need to #InvestWisely. But, how? How do you do it? What should you invest in?

Today, we discuss that question with an active hedge fund manager named John Medford. He and his team manage a large fund with an impressive record.

And, in this episode, we discuss why you probably shouldn't bother to try competing with him.

Joshua

Direct download: RPF0651-Can_You_Invest_Better_Than_a_Hedge_Fund_Manager.mp3
Category:general -- posted at: 12:08pm MDT

In order to build wealth over your lifetime you need to #InvestWisely. But, how? How do you do it? What should you invest in?

Today, we discuss that question with an active hedge fund manager named John Medford. He and his team manage a large fund with an impressive record.

And, in this episode, we discuss why you probably shouldn't bother to try competing with him.

Joshua

Direct download: RPF0651-Can_You_Invest_Better_Than_a_Hedge_Fund_Manager.mp3
Category:general -- posted at: 12:07pm MDT

I think a pop up tent camper is an ideal compromise for family vacation travel.

In this show, I tell you why.

Joshua

Direct download: RPF0650-The_Case_for_Pop-Up_Campers.mp3
Category:general -- posted at: 9:11pm MDT

1:30 What is the fiscal future of the USA in light of the Democratic candidates' debate this week?

19:12 How could I do financial coaching for the not-yet-wealthy?

35:20 What are the benefits of international living?

41:15 Should I be a dividend investor or index fund investor? And how can I simultaneously be a moral investor?

1:15:45 Should I quit my job because I can?

1:33:30 How could I invest differently than just real estate and mutual funds?

Direct download: RPF0649-Friday_QA.mp3
Category:podcast -- posted at: 4:33pm MDT

Friday Q&A today!

  • 1:54 Should I sell my cryptocurrency to pay off my IRS debt?
  • 10:30 How should I readjust my investments to plan for future economic uncertainty?
  • 26:09 How should I think through my finances in the midst of possible divorce?
  • 59:46 What do I need to do with my US-based investments while I move to Spain?
  • 1:08:00 My wife and I are having a baby and are interested in birth tourism. How should we analyze the possibilities?

Enjoy!

Joshua


If you care about asset protection planning, there's hardly any reason for you to own an asset in your own name. So, you'll have to get used to titling asset in slightly different ways.

Today, I teach you why and how.

Joshua


When I ask people about their goals, about 80% of people tell me they want to travel when they retire. And yet, very few people actually follow through and travel!

Why?

Of course there could be many reasons. But if the cost of traveling is keeping you at home, I want to help you.

In today's show, I'll share with you some ideas and strategies to travel the world on the cheap.

Enjoy!

Joshua

Direct download: RPF0646-How_to_Travel_the_World_On_The_Cheap.mp3
Category:podcast -- posted at: 11:10am MDT

In today's show, I'm going to teach you how an average guy can build a $165,000,000 estate by choosing not to retire. And I'll tell you a bunch of reasons why that would be great for you to plan for (even though you're simultaneously working towards financial independence in 10 years or less).

Enjoy!

Joshua

Direct download: RPF0645-The_Power_of_Choosing_Not_to_Retire.mp3
Category:podcast -- posted at: 3:38pm MDT

This is one of the most important questions you can think about. And don't be scared to change your answers as you learn and grow.

Joshua


A listener has a car with a blown transmission and is trying to decide whether to repair it or replace it. Here's my advice!

Joshua

Direct download: RPF0643-Should_I_Fix_My_Broken_Car_or_Replace_It.mp3
Category:general -- posted at: 3:40pm MDT

It's Friday! Today, we discuss:

  • Taking the Foreign Earned Income Exclusion
  • How Should You Think About FIREing Yourself From A Big-Money Job

Joshua


Here's the link: https://mobile.twitter.com/USATODAY/status/1125891810595954688

Read the conversation and form your own opinions.

Joshua

Direct download: RPF0641-1500_a_Month_On_Non-Essentials.mp3
Category:podcast -- posted at: 1:53pm MDT

Today, I tell you the story of the Accidental Millionaire and a few lessons for both of us.

Enjoy!

Joshua

Direct download: RPF0640-The_Accidental_Millionaire.mp3
Category:podcast -- posted at: 2:54pm MDT

It's Friday! Today we discuss:

  • International healthcare options
  • Avoiding wealth taxes
  • Second passports for children
  • And more!

Joshua

Direct download: RPF0639-Friday_QA.mp3
Category:podcast -- posted at: 3:03pm MDT

Wages provide you with the financial fuel you need to build wealth. So it absolutely stinks when those wages are sucked up by your creditors in wage garnishments. So how can you protect your wages and keep them for yourself?

That's what we discuss today!

Joshua


One of the most fundamental decisions you can make in life is to marry or not to marry. If you marry, your life, your budget, and your career will look dramatically different than a peer who remains unmarried.

Marriage can be one of the biggest blessings to your life, resulting in greater happiness, better health, a higher income, and more wealth.

Marriage can also be one of the greatest curses you can experience and it can devastate your emotional state, your physical health, your career, and your wealth.

So, you need to choose wisely.

In Part 1 of this series, I discussed various ways that you can prepare yourself to be attractive to an excellent wife.

In today's show, I do my best to give you an honest assessment of the risks involved so you can choose whether you desire to marry or to remain unmarried.

I hope it's thought-provoking.

Joshua

Direct download: RPF0637-How_to_Find_an_Excellent_Wife-The_Decision.mp3
Category:podcast -- posted at: 2:34pm MDT

If you're a US citizen who earns $500,000 or more, who is not willing to renounce your US citizenship, and who is involved in business and investing, you should seriously consider moving to Puerto Rico.

Joshua

Direct download: RPF0636-The_Case_for_Moving_to_Puerto_Rico.mp3
Category:podcast -- posted at: 10:26am MDT

On Fridays we do Q&A! Today:

1:20 How can I effectively move from New York to Florida in order to end my tax residency?
17:20 What should I do with the life insurance I'm offered at work?
23:00 How do you advise someone to develop an overarching investment philosophy?
48:05 Should I put money into a 529 plan for my not-yet-conceived children?

If you'd like to join me next week, go here: www.patreon.com/radicalpersonalfinance

Joshua


Today, I'll teach you how a 25-year-old $100,000-earner could increase their estate by $90,000,000 by simply moving outside of the United States.

Enjoy!

Joshua

 

Direct download: RPF0634-The_Case_for_Moving_Outside_of_the_United_States.mp3
Category:podcast -- posted at: 1:18pm MDT

One of the most effective things you can do when trying to figure out how to build wealth is to find ways to save big money. Fast. And since Americans collectively spend more on taxes than housing, food, and clothing—combined—you should start by trying to save money on taxes.

Today, I give you my case for why you should consider moving to a No-Income-Tax state.

Enjoy!

Joshua

Direct download: RPF0633-The_Case_for_Moving_to_a_No-Income-Tax_State.mp3
Category:podcast -- posted at: 2:03pm MDT

Today, we continue our Asset Protection Planning series with a deep look at the Personal Property Exemptions. I've never heard asset protection planners give much attention to the Personal Property Exemptions. But that's understandable to me.

When dealing with the mega-wealthy, it's hard to see how the Personal Property Exemptions make any difference in terms of financial planning.

But, for a "mere mortal," I think there's a really good argument that the personal property exemptions can be really important.

Tune in to the show to hear why!

Joshua


As I recently finished my course on "How to Survive and Thrive During the Coming Economic Crisis," I was struck with how simple and feasible the individual solutions are, while how utterly impossible and difficult the collective solutions are.

Choose success and happiness by focusing on the individual solutions you can put in place in your own life.

Joshua

p.s., If you haven't yet, go check out my newest course!


1:20 Should I change my whole life insurance policy because my income is going down?
18:40 Why do you think Walmart has done more good for poor people than any non-profit organization?
30:00 How should I adjust my asset allocation now that I'm retiring?
42:40 Should I pay off my mortgage on my retirement house?
49:15 Where should I keep my medium-term savings?
52:00 How can I include real estate in my Permanent Portfolio?
58:00 How can I invest in the people in my community?
1:05:00 Can I use a private foundation for my wealth planning?

Direct download: RPF0630-Friday_QA.mp3
Category:podcast -- posted at: 12:00pm MDT

Yesterday, I released to you a discussion on the Federal Debt in the United States. That show should be your introduction to this problem.

But in thinking about it, I felt like it was incomplete. I wanted to present some useful materials, in audio format, for listeners who don't have a firm background in the fundamentals of the problem.

So I decided to go in-depth to try to lay out the problem very clearly.

This show is deep and difficult. It holds quite a bit of my reading to you--but also some interesting commentary.

If you're trying to understand the underlying, structural problems more clearly, listen to the show.

If you prefer reading, start with these two links:


We face a massive problem in the United States right now. Put simply:

  • We are borrowing more money than ever before.
  • There's no plan for us to borrow less money in the future.
  • There's [almost] no mathematically sound plan that can be created to have us borrow less money in the future.
  • No major, national politician is loudly, consistently talking about how we can spend/borrow less money.
  • Rather, there are loud, vigorous, and strengthening forces moving in the direction of borrowing even more money.

The government has only three sources of funds:

  • Taxation (bad for you if you earn money or have wealth)
  • Borrowing (bad for you if you're a citizen, not an investor)
  • Inflation (bad for you if you're a saver)

There's enough evidence for honest, careful people to predict the strong probability of future crises.

The problem is, we can't know when these crises will occur.

But it's time to start preparing.

Joshua

Direct download: RPF0628-Federal_Debt-The_Ticking_Bomb_that_No_One_is_Willing_to_Defuse.mp3
Category:podcast -- posted at: 9:56am MDT

Today, we continue the Asset Protection series with an in-depth look at health and education accounts. Specifically, we cover:

  • Health Savings Accounts / Medical Savings Accounts
  • Flexible Spending Accounts
  • Health Reimbursement Arrangements
  • Qualified Tuition Programs (529 Plans)
  • Coverdell Educational Savings Accounts
  • UTMA / UGMA accounts

1:45 - Is it moral to support the current capitalist system of economics?

32:20 - How can I figure out how much umbrella liability insurance to purchase?

39:00 - Does having a higher umbrella liability insurance policy make you the target of a lawsuit?

46:05 - I want to buy a house but I'm in the middle of paying off debt (on Dave Ramsey's Baby Steps plan). Should I pay off the debt first?

Direct download: RPF0626-Friday_QA.mp3
Category:podcast -- posted at: 4:50am MDT

1:00 - Should I roll my 401(k) over to my new job or into an IRA?

11:30 - How should I prepare for a meeting with an estate planning attorney?

17:55 - How should I decide to indulge myself with a luxury expense?

35:45 - Life insurance advice for a newlywed couple.

48:05 - How can I maximize the value of my business for sale?

Direct download: RPF0625-Friday_QA.mp3
Category:podcast -- posted at: 9:47am MDT

The future will be one of the following:
1. Same as now or better
2. Similar to a recession
3. Similar to a depression
4. Similar to mad max
5. Void of humans due to asteroid hitting earth or similar calamity


2:00 - Life insurance advice for a recently married husband
6:15 - How can I make a back-door Roth contribution without being subject to the pro rata rule?
11:35 - How can I protect the money in my taxable brokerage accounts?
20:50 - How can I optimize my tax situation as an expat living in Bermuda?
47:20 - I live in China and am returning to the USA. What should I do with my money?
50:25 - How should I balance paying off debt with real estate investment?
1:03:05 - How can I invest for my 15-month old daughter?

Direct download: RPF0623-Friday_QA.mp3
Category:podcast -- posted at: 1:57pm MDT

In this episode of the Asset Protection Series, we do a deep-dive into annuities. Entry-level stuff at the beginning and some extra, hard-core bonuses at the end.

Joshua


1:20 - How Can I Invest in Distressed Mortgage Notes Inside my Roth IRA?
8:05 - Should I Pursue a Chartered Financial Analyst Credential for My Own Investment Knowledge?
17:00 - Should I Contribute More Money to a Roth 401(k) than a Traditional 401(k)?
38:15 - How can I Balance Personal Privacy and Functionality in Building My Business?

For reference to any time-dated commentary, this show was recorded on 12/21/2018.

Direct download: RPF0621-Friday_QA.mp3
Category:podcast -- posted at: 11:09am MDT

This is a recording of an interview I gave for "In The Rabbit Hole."

ITRH: E272: The Truth About Money and Preparedness

Originally published: November 12, 2018

https://www.intherabbithole.com/e272/

Direct download: E272.mp3
Category:podcast -- posted at: 12:00pm MDT

1:25 - I just got married. What financial planning should I do now?

39:35 - My employer offers a 401(k) with no match. Should I participate?

55:35 - How can I save for my child's college education with a 529 plan or with a Roth IRA?

For reference to any time-dated commentary, this show was recorded on 12/20/2018.


In Episode 616, I argued the point that if missing one paycheck is a problem for you, you're behaving stupidly. My guest on today's show took umbrage with my commentary on Twitter. So invited her on to discuss!

Enjoy,

Joshua


Chris Moody and I have both spent the last 6 months traveling the width and breadth of the United States with an eye toward understanding the current moment. In this podcast, we discuss our findings.

  • Life Opted Out www.instagram.com/lifeoptedout 
Direct download: RPF0618-Reflections_on_the_State_of_the_USA_From_Two_Travelers.mp3
Category:podcast -- posted at: 3:24pm MDT

1:45 - How can I give nice gift to people who are poorer than I am without creating a power imbalance?

15:20 - Can I contribute my salary into a 401(k) plan for my wife in order to maximize our retirement account contributions?

28:05 - How can I protect my non-qualified investment accounts that are exposed to the claims of creditors?

44:30 - I don't "need" term life insurance because I'm financially independent. Should I still buy some?

51:00 - I'm following Dave Ramsey's baby steps and am almost out of debt; should I store up my emergency fund in a Roth IRA?

56:00 - I want to buy an investment that will pay for my new car instead of just burning all my cash on the car. How do I do that?

(For the context of any time-relevant comments relating to current events, this Q&A was recorded on 12/19/2018.)

Direct download: RPF0617-Friday_QA.mp3
Category:podcast -- posted at: 10:07am MDT

Stop behaving stupidly with your money.


Today, I share my advice for young men on how they can find an excellent wife. In short, you must become an excellent man. That's the task. Here are some ideas on how.

Joshua

 

Direct download: RPF0615-How_to_Find_an_Excellent_Wife-The_Preparation.mp3
Category:podcast -- posted at: 10:42am MDT

1