Today's episode is Part 2 of a mini-series on the seasons of life.

The world of work is changing rapidly. We find ourselves pressed on all sides to do more work and different work.

And yet in personal finance circles, the focus of our conversation is quite frequently how to get out of work.

I believe work is a blessing and not a curse. And that to run from work is the wrong answer.

And yet how can we adjust our relationship with work so that it feels more meaningful and less ephemeral?

Part of the answer is in learning to work with the natural seasons of life.

Enjoy,

Joshua

• Please visit www.HelloFresh.com to get awesome food, delivered right to your door. Save $30 when you subscribe with promo code RPF30. Thanks!

Poverty is hard. Money helps to make life less hard. But, in our modern world, it's hard to figure out how much money is enough.

As you go through the seasons of your life the usefulness of money will wax and wane.

Money comes with a cost: time, labor, risk, attention.

You need to think carefully about the season of your life you're in and consider the unique value of money during this particular season.

Joshua

• Did you find value in this episode of Radical Personal Finance? Please sign up to support the show on Patreon: www.radicalpersonalfinance.com/patron

 

Today I have an interview for you with Ben Higgenbotham, a funeral director who's also well in tune with the Radical Personal Finance philosophy.

He's here today to share the inside scoop on how to effectively work with a funeral director so that you can get the funeral experience that your family desires without losing your shirt.

Enjoy!

Joshua

p.s., If you didn't hear it, you might want to first go and listen to Episode 409, "How to Get Yourself Put 6 Feet Under Dirt Cheap!". https://radicalpersonalfinance.com/cheap-burial/

That show was the "radical" approach; this discussion was intended to be a bit more mainstream. This interview was recorded almost immediately after that show was released, but I misplaced the file and neglected to get it into the schedule! Sorry, Ben!

What do dentists who shoot lions, publicists who make jokes in poor taste on Twitter and Indiana pizza makers have in common? Their lives were suddenly and irrevocably changed for the worst while doing something that they could never have predicted would lead to it.

Avoiding catastrophe is an important pillar of the wealth building strategy that I promote through Radical Personal Finance. As personal finance enthusiasts, we are one of the most prudent groups of people on this planet: we build our emergency funds, insure against negative events, diversify our investments and make careful choices about our spending.

Radical Personal Finance is, however, about going beyond the obvious and into the territory of things less commonly considered, but just as important. I want you to be prepared to deal with a hurricane, becoming a refugee, dealing with food scarcity or even the possibility of getting arrested.

In my experience as a financial advisor, it has often frustrated me with how little care is sometimes taken to ensure the client’s financial security, despite the good intentions of most people in the industry. But why is this possible? The answer is that most people care even less about their data.

It’s shocking to discover how vulnerable we actually make ourselves by not taking simple security measures when using bank accounts, email and social media - vulnerable not only to a loss privacy but potentially to a very real financial loss.

I’ve taken an interest in this subject a while ago, and have been really impressed by the book The Complete Privacy and Security Desk Reference which stood out in a field where information is often cursory or out of date.

That is why I invited co-author Justin Carroll to Radical Personal Finance to talk about real, actionable ways in which you can become more secure and protect your privacy. This article contains some of the best tools mentioned in our discussion, though for a more complete picture I recommend that you listen to the episode above and purchase the book itself.

But This Won’t Happen to Me

I often get this objection: “I’m not doing anything wrong - why should I be concerned about privacy?”. Here’s an analogy that I’ve found helpful in explaining why I promote these ideas:

Do you remember the time when every phone call was a party line? Anyone in the household could pick up another receiver and there was very little one could do about it at the time. Now, however, you do have a choice - do you want to make everything you search for, consume, talk about as well as access to all of your accounts and purchase history a party line?

Complete privacy and security are very difficult to achieve, but some very simple steps and tools can protect you from most of the headaches in the future.

Another thing to consider is this: You may not be a target right now - but you may become one in the future as your wealth increases, you endorse unpopular political or religious perspectives or just live your life the usual way, as the stories at the beginning of this article illustrate.

This may be a decade from now, but to prevent it you must build the skills and the mindset starting today, because you don’t know what circumstances you will face in the future through no fault of your own, and you can’t control things after the fact.

Some simple tools and habits that have a great impact:

Accounts and Passwords

You are at great risk if you use the same or the same few passwords for all of your accounts. You will see this warning often and for good reason when creating new accounts: it only takes one company to be breached (who didn’t store your data properly) and an attacker gains access to all of your accounts. Alternatively, it’s often enough if they just gain access to your main email and phone account (which isn’t very difficult) and that opens up everything else. Using a different strong password for every account mitigates some of this risk.

Less often mentioned, but equally important is using different and random usernames. Is your email address firstandlast@gmail.com? You’ve just given away an important piece of the puzzle to would-be attacker.

The problem often is safely storing and remembering all of these account names and passwords - that’s where a password manager comes into play. Using LastPass (more convenient) or KeePass (more secure) can make the process a whole lot easier and secure.

Two-Factor Authentication

Nowadays you can often see a website offering (or requiring) you to enter a code from a text message in addition to your password. This is a form of two-factor authentication: an attacker job is made more difficult since he needs access to both your account name and password as well as your phone number. Unfortunately, phone numbers are often accessed by social engineers (who exploit human psychology) or accounts are simply hacked into, making this method not particularly secure.

What I recommend instead is that you use Authy or Google Authenticator on your smartphone. This works in a similar way, but you need actual physical access to your device (as opposed to just the number) which significantly enhances your security.

For even more security, you could purchase a YubiKey, which is a special piece of hardware dedicated entirely to two-factor authentication.

Encrypted Communication

Even though we rarely send long and heartfelt email anymore, there’s still a lot of important information that someone can gain from reading the emails that you send and receive. The same is true for instant messaging and phone calls.

I encourage people who own an iOS to use Facetime Audio instead of calling and to use Signal (iOS and Android) for instant messaging - both of which are encrypted.

Setting up email encryption used to be somewhat difficult, but tools such as Proton Mail offers end-to-end encrypted communication. You can also encrypt sensitive documents with a password using Adobe Acrobat Pro (Windows) or Preview (Mac).

Don’t Trust Your Financial Advisor (or Your Bank)

Just because someone is in the financial industry, it doesn’t mean that they take good care of your information. Bank accounts sometimes have worse-than-average security - make no difference and use the same tools and principles that you would with any other account.

The same is true with financial advisors, accountants etc. Your information is not always stored appropriately - sometimes physical copies are kept that are not secured, sometimes administrative staff has access to digital documents, sometimes your information may be shared between financial advisors at the same firm.

Make sure to compartmentalize information: think carefully if that person or organization really needs this or that particular piece of information, and try not give a complete picture whenever possible. This way, if there’s a breach at a particular firm, that information alone will not be enough to impersonate you or access your other accounts.

Use Cash Whenever Possible

Show me your bank statement, and I’ll tell you who you are.

How much could I learn about you knowing where you shop, where you get your morning coffee, where you fill up your car, where you eat your lunch and what kind of shops you visit? All this information can paint quite an accurate picture of you - there’s no reason to offer it up on a silver plate.

Use cash whenever you can - it’s not so hard to get used to (again).

Maintaining Privacy in Online Payments with Burner Credit Cards

Sometimes you can’t get around using a card - but by sharing your bank-issued credit/debit card details when making purchases, you are losing control over the transaction. Most of the time, everything stays win-win, but in contentious situations it’s often a problem if the merchant has all of your details. In addition, unauthorized spurious charges have been known to occur, sometimes in foreign countries, which drain your time and energy to deal with.

Using services such as Privacy.com, SudoPay (connected with Apple Pay) and Blur you can create credit cards that work only for one transaction, or are used for only one merchant. This also means that you don’t have to use your real name or address when making these payments, protecting you from when (often inevitably) the merchant’s database gets compromised.

In addition, you can also set up additional email addresses and phone numbers - this way, for instance, you can share one virtual number with friends and family, and another virtual one to important accounts, that way your accounts stay safe even if your actual phone number is compromised.

Act Now

The tools here are some of the lowest hanging fruit available to you right now to ensure that your assets and your information stay safe. I’ve gone into even more strategies with Justin in the podcast episode that this article was based on - including owning a car and a house as well maintaining a mailing address as privately as possible.

You can find our discussion above this article, or in iTunes. I also wholeheartedly endorse Justin’s and Michael’s book on the subject, as well as their podcast.

Proper prudent planning beats trying to fight the fires after the fact. Take the steps today to protect yourself so you aren’t caught off guard in the coming decade!

I am available if you’d like to have a phone conversation on this subject.

Here are all the resources mentioned in the podcast episode:

• Justin Carroll’s and Michael Bazzell’s podcast: https://itunes.apple.com/us/podcast/the-complete-privacy-security-podcast/id1165843330?mt=2
• Justin Carroll’s and Michael Bazzell’s book: https://www.yourultimatesecurity.guide/books.html
• Encrypted PDFs on Windows: https://acrobat.adobe.com/uk/en/acrobat/acrobat-pro.html
• Encrypted messenger: Signal
• Encrypted email: https://protonmail.com/
• Password manager: http://keepass.info/
• Password manager: https://www.lastpass.com/
• Two-Factor Authentication: Google Authenticator
• Two-Factor Authentication: https://authy.com/
• Two-Factor Authentication: https://www.yubico.com/products/yubikey-hardware/
• Buying car privately with New Mexico LLC: https://jjluna.com/Resources-LLCs
• Defense against private investigators: JJ Luna How to Stay Invisible https://www.amazon.com/gp/product/1250010454/
• Secrets of Super Thief https://www.amazon.com/Secrets-Superthief-John-MacLean/dp/0425056457/
• True Faith and Allegiance https://www.amazon.com/Clancy-True-Faith-Allegiance-Novel/dp/0399176810
• Open Source Intelligence Techniques: https://inteltechniques.com/book1.html
• Credit Freeze: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs
• Credit Freeze: https://radicalpersonalfinance.com/credit-score-management/
• Virtual Credit Cards: https://privacy.com
• Virtual Credit Cards, Phone Numbers and Email Addresses: https://sudopay.com/
• Virtual Credit Cards, Email Addresses: https://dnt.abine.com/

I frequently get this question: "Joshua, what should I invest my money in?"

Well, that's a hard question to answer. I'm not you, so how should I know?

But, here are the factors I think you should consider in answering that question for yourself:

1. time
2. money
3. knowledge
4. skill
5. temperament
6. timing
7. opportunities
8. tools

Joshua

p.s., did I miss any important factors? If so, let me know in the comments.

Many people are far too free with their personal financial information. This can be very dangerous.

You cannot expect your financial advisor to keep your personal information private, secret, and secure.

You've got to take steps to protect yourself.

Joshua

 

I'm not sure how to explain this one to you via text...perhaps it's just better if you hit play and listen!

:)

Joshua

I'm a big fan of Cal Newport's work and I stumbled across this TEDx talk that he gave on the topic of social media.

Consider his points and see how they might relate to your personal social media usage.

It'd be a shame to look back at the end of the year and recognize an alternative use for the hundreds of hours that most of us use in social media activities. Always think about the opportunity cost...

Joshua

• Original video: https://youtu.be/3E7hkPZ-HTk

Hey Radicals!

Today's show is a little audio ramble among friends to tell you that my wife and I are celebrating the birth of a new little baby boy!

(I also tell you about my 3-year-old's first successful investment...and his 100% ROR!)

Joshua

• Episode 212: Comments on Preparing for Child Birth with Mrs. RPF

Rounding out our theme this week of how to survive and thrive during police encounters so that you are not arrested and imprisoned, I bring you an important video by the Flex Your Rights organization.

This one is best viewed as a video and is available for free here: https://youtu.be/s4nQ_mFJV4I

It contains dramatic presentations and acting and is really well done. I recommend that you don't listen to the audio file here; I recommend you make the time to watch the video yourself, then again with your spouse and children.

However, I find that it's hard to make the time to watch videos, so I'm posting the audio here for you to at least listen to. You'll gain a lot from simply listening to the audio.

But, again, if you can make the time, stop listening and go watch it: https://youtu.be/s4nQ_mFJV4I

This is the audio from a presentation at the CATO Institute by Law Professors James Duane and Randy Barnett. (original video: https://youtu.be/gpkc2FZFR5k)

It is a follow up of the concepts outlined in James Duane's excellent book "You Have the Right to Remain Innocent."

There is very little additional value from watching the video file, so enjoy the audio and you'll get the most important points.

• Buy James Duane's book "You Have the Right to Remain Innocent" http://amzn.to/2qgDFDF

I urge you to make the time to listen to this presentation about why you should not talk to the police, no matter your guilt or innocence in any matter.

This is an audio presentation of this YouTube speech (viewed over 23 million times wherein Regent Law Professor James Duane gives viewers startling reasons why they should always exercise their 5th Amendment rights when questioned by government officials: https://youtu.be/d-7o9xYp7eE

(There is very little added value in the video presentation, so you'll gain the bulk of the knowledge by listening exclusively to the audio.)

Also, you should buy and read the $5 book that Professor Duane wrote to follow up to this speech: "You Have the Right to Remain Innocent." (highly recommended) http://amzn.to/2qgDFDF

If you get arrested, you can kiss anywhere from thousands to hundreds of thousands of dollars good-bye.

You need insurance against that eventuality.

Today, I'm going to teach you why it's vitally important that you arrest-proof yourself and how to do it.

Joshua

• Arrest Proof Yourself book: http://amzn.to/2ph7Xos
• Don't Talk to the Police video: https://youtu.be/d-7o9xYp7eE
• You Have the Right to Remain Innocent video: https://youtu.be/gpkc2FZFR5k
• BUSTED: The Citizen's Guide to Surviving Police Encounters: https://youtu.be/yqMjMPlXzdA

 

My guest today is Dr. Marilyn Brodeur, founder of the Infant Dental Center in Corpus Christi, Texas.

Marilyn reached out to me after hearing my response to a caller in Episode 417 who was struggling with a decision of whether to pursue her career aspirations or to focus her attention on her children.

So, I invited her on the store to share her story about how she has built a successful business that allows her a great deal of flexibility and capitalizes on her skills and ability.

Enjoy!

Joshua

• Marilyn's practice: http://www.infantdentalcenter.com/

I don't have a new, original show for you today. But, I do have this interview that I gave last year on Everything Financial Radio! My segment of the show begins at 22:20. Enjoy!

• This is the original episode link: http://www.everythingfinancialradio.com/2016/04/joshua-sheats-and-tom-aspray-join-host-dennis-tubbergen/

It's Friday! That means Q&A:

• Where Should a 48-Year-Old Focus Financially for Retirement?
• Should I Sell a Stock that Makes Up 25% of My Net Worth?
• Should I Move Across the Country So My Children Can Be Near Their Grandparents?
• How Strong Is the California Pension System?
• Should I Contribute More to Retirement So I Can Pay Less on My Student Loans?

Today we tackle the Rule of 72 with a quick explanation of what it is and why it's useful to you.

The Millionaire Next Door Wealth Index:

"Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be."

About once a week, I get an email asking me for my opinion on network marketing opportunities. So, today, here is my opinion and advice for you!

Joshua

• Please support Radical Personal Finance on Patreon. www.radicalpersonalfinance.com/patron

Here's a great Monday-morning sermon by ETtheHipHopPreacher to kick off your work week. Thank God it's Monday!

Original video: https://youtu.be/5fsm-QbN9r8

We do a live Q&A show on Fridays. Today we cover:

• How Do You Help Young People Engage in Goalsetting?
• How Much Debt Is Too Much on Rental Properties?
• How Do You Help Your Brother-In-Law Learn About Money?
• Last-Minute Health Savings Account Contributions?

Enjoy the show!

Joshua

• Please support the show on Patreon! www.radicalpersonalfinance.com/patron
• Sign up for a free 34-day trial of YNAB: www.radicalpersonalfinance.com/YNAB
• Try out the Personal Capital dashboard: www.radicalpersonalfinance.com/personalcapital

I've often made comments like, "Your 401(k) won't make you rich." Or, "People Don't Get Rich Because they Invested in Their 401(k)."

A listener recently asked for clarification on that statement. I thought it was so important that I dedicated an entire show to it.

In today's show, I give my defense of my statements and argue my case.

My thesis is simple: high 401(k) balances are correlated to people who are rich, but they are not a causative factor of wealth.

Enjoy!

Joshua

• Please support my show on Patreon! www.radicalpersonalfinance.com/patron

A little while back I gave this interview for Joe Fairless on his show, "Best Real Estate Advice Ever." We focused on the intersection between personal finance and professional financial advice. Enjoy!

Joshua

http://joefairless.com/best-financial-advice-achieving-maintaining-financial-freedom/

Today, please enjoy this recording of my appearance on Episode 107 of the Sound Retirement Planning Podcast with Jason Parker!

This show was recorded in Q4 of 2016.

http://soundretirementplanning.com/107-radical-retirement-planning-joshua-sheats-radical-personal-finance/

I see lots and lots of people talking about the idea of "passive income." Everywhere I look, I hear people talking about passive income and why it's so great!

But, I've heard very few people define the concept and explain what a true passive income opportunity is.

And the vast majority of opportunities I hear of don't qualify as passive income in my book.

So, let's bust this "passive income" myth today!

Joshua

• Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin
• Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron 

It's Friday! On today's Live Q&A show we cover:

• Should I sell the house we just moved out of?
• How Do I Figure Out If I Should Fire My Financial Advisor or Not?
• How Can I Organize a Really Cool Networking Event for Celebrities that I Admire?
• How Can Divorced Men Creatively Avoid Paying Higher Child Support?
• What Competitive Advantage Does Dimensional Fund Advisors Have Over Vanguard?
• How Has Joshua Changed His Financial Plan Over the Last Three Years?

Enjoy!

Joshua

• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

Today, we cover this question:

Joshua,

My husband and I love your show and would LOVE IT if you could help us answer a question from your point-of-view.

Facts:

1. We're completely debt-free except for our house.
2. We make around $130,000 per year.
3. We're currently investing 10% for retirement.
4. We are dead-set on paying off the house in the next 2.5 to 3 years.

The DILEMMA:

Dave Ramsey suggests saving 15% for retirement for someone in our position. We can do this..but that'll slow down our house payment goal quite substantially (or, in my mind it's substantial, as I want this house paid off TOMORROW!)

The goal after the house repayment is to throw everything we can spare towards investing in retirement funds.

THE QUESTION:

Should we stay strong on our course to pay off the house in 3 years tops only saving about 10% for retirement or do we bump up retirement savings? Ultimately how do I figure out the opportunity cost in each scenario?

Thanks so much!

Taliah

--

• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron
• This is the debt-payoff calculator that I use constantly! https://www.vertex42.com/Calculators/debt-reduction-calculator.html

Today's show comes by inspiration of this listener question: "Joshua, will you please send me a link to the best show on your website for a woman wanting to convince her husband that they can make it financially if she stays home?"

Well, I didn't have such a show. But now I do.

Here it is!

Joshua

• Don't have good data on your income and expenses? Start tracking it with YNAB! Get a free 34-day trial at www.radicalpersonalfinance.com/YNAB

DATA:

	Working (Conservative)	Staying at Home	Difference
Husband	$60,000	$60,000
Wife	$60,000	$-
Total	$120,000	$60,000	$60,000
Employment Taxes (7.65% -- 6.2% SS + 1.45% Medicare)	$9,180	$4,590	$4,590
Income Taxes (Turbo Tax Estimate, 30 years old - 2 kids, no deductions)	$12,849	$1,756	$11,093
	$22,029	$6,346	$15,683
Income, net of tax	$97,971	$53,654	$44,317
Cost of Childcare ($7k x 2)	$14,000	$-	$14,000
Income, net of childcare	$83,971	$53,654	$30,317
Commuting Costs Saved ($200/mo)	$2,400	$-
Work Lunches Saved (100 lunches @ $15)	$1,500	$-
Work Clothing Saved ($50/mo x 12)	$600	$-
Dinners Out Saved ($60 x 50)	$3,000	$-
Household Savings due to frugality ($200/mo x 12)	$2,400
	$9,900	$-	$9,900
Income, net of working costs	$74,071	$53,654	$20,417

I've really got a great show for you today. It's one that brings together so many things that I love talking about! Travel with Family, Entrepreneurship, Marketing, Financial Independence, and more!

My guest is Anthony Amos.

He's an Australian entrepreneur who started out with a tiny little backyard dog-washing business. He grew it, franchised it across Australia, and then sold it and decided he was rich enough to go into property development.

His timing was not so great (right before the real estate crash) but he suffered through.

Later, he wound up buying the company back and he's in the process of expanding across the United States!

At the moment, he and his family are in the middle of a 50+-state RV trip all across the USA with a goal of raising $1,000,000 for dog rescue. Along the way, they're enjoying an incredible family adventure and publicizing their dog washing business!

This one is well worth your time!

Joshua

• Anthony's website: https://bathetosave.com/
• Please support RPF on Patreon! www.radicalpersonalfinance.com/patron

It's tax-time! That means that you face a problem: how should you do your taxes? Should you print off the 1040 form from the internet and fill it in by hand? Should you use tax software? Should you hire an accountant?

Here are my thoughts on the matter!

Joshua

• Great records will make doing your taxes an absolute breeze. Why not try YNAB for your budgeting and recordkeeping? Get a free 34-day trial at www.radicalpersonalfinance.com/YNAB
• Please support RPF on Patreon. Currently 267 people of the ~18,000 daily listeners support the show on Patreon for a total of $1,659 per month. I'd be thrilled if you'd join them! www.radicalpersonalfinance.com/patron

It's Friday! That means it's time for a live Q&A show.

Today we handle two questions:

• How Can a 13-Year-Old Young Man Get His Start as a Financial Advisor?
• How Can an Early Retiree Calculate If He Has Enough Money

Enjoy the show!

Sign up as a Patron to be invited to future Friday call-in shows. www.radicalpersonalfinance.com/patron

Joshua

Today's show is dedicated to marketing. I focus on answering a specific question about podcast marketing, but I do share a number of tips that are applicable on a broader basis.

Here's the question:

Hi Joshua,

I was inspired to start my own podcast six months ago when I listened to your episode 300 entitled "30 podcasting lessons learned from 300 episodes".

Your words of encouragement were invaluable for me and really made me believe I could do this. Your suggestion to focus on content and not the technical aspect of podcasting was the most significant takeaway for me.

The podcast is only 30 episodes in and we consistently publish an episode every single week but wondered if you could provide some suggestions on how to grow your audience.

Background information:
Candian based personal finance podcast, host/co-host format, with the occasional guest

Thanks so much,
Trevor
Simple Money Solutions podcast

• Go listen to Trevor's show! http://livelifesimple.ca/
• Please use the coupon code "Radical" to get your first month of podcast hosting for free at www.libsyn.com
• Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron

I wasn't quite sure how I should approach today's book review of Tony Robbins new money book, so I asked the Radical Personal Finance Facebook group.

I wrote: "I'm about to record my review of Tony Robbins' new book, Unshakeable. Should I do it in my current mood as ticked-off, angry Joshua and rip it to shreds or should I do it in my calm, collected and intellectually neutral voice, carefully presenting the good, the bad, and the ugly? Whadya want?"

Well, most people seemed to want option A, so I turned the mic on and let it rip.

Enjoy my review of Tony Robbins' latest book: Unshakeable: Your Financial Freedom Playbook: Creating Peace of Mind in a World of Volatility.

Joshua

p.s., If you missed it, here's my 3-hour review and critique of his first personal finance book, Money: Master the Game: 7 Simple Steps to Financial Freedom.

• Get a free 34-day trial of the personal budgeting software that I use every day: www.radicalpersonalfinance.com/YNAB
• Please support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/Patron

 

 

I recently completed a brief demographic survey of the Radical Personal Finance audience. I learned a ton about who you are!

I thought it would be fun for me to share it with you and share how it impacted me.

Enjoy!

Joshua

    Do you need a website? Reach out to my own personal web team at www.sillygrasshopper.com and see if they can help you!

Radical Personal Finance Audience Demographics    
    
Gender    
Male    78.9%
Female    21.1%
    
Age    
13-17    0.2%
18-20    0.6%
21-24    6.9%
25-34    48.5%
35-44    29.8%
45-54    9.9%
55+    4.2%
    
Marital Status    
Single    27.4%
Married    70.1%
Divorced    2.4%
Widowed    0.1%
    
Race    
Asian    4.5%
Black    3.9%
Caucasian    82.1%
Hispanic    4.5%
Native American    0.1%
Pacific Islander    0.7%
Other    4.2%
    
Education    
Less than high school graduate    0.4%
Graduated high school / GED    1.7%
Trade / Technical school - no degree    1.5%
Attended college but did not graduate    5.4%
Two year college degree    5.3%
Four-year college degree    50.1%
Masters degree    26.6%
Doctoral degree    9%
    
Income    
<25k    2.8%
25k-49k    7.6%
50k-74k    14.7%
75k-99k    16.5%
100k-199k    40.8%
200k+    17.6%

On episode 425 of the podcast I interviewed Mr. Money Mustache. That episode was not intended to be an introduction to his teaching or his philosophy; rather, it was a human interest discussion with the man himself.

Today, I introduce you to the philosophy and teaching: the message.

What is mustachianism? What is the plan for financial independence espoused by Mr. Money Mustache?

Enjoy!

Joshua

• Start your search for a great financial advisor here: www.radicalpersonalfinance.com/patron
• Please support the show directly as a Patron: www.radicalpersonalfinance.com/patron

Hey Radicals!

We're quickly coming up on Episode 500 of the show. To celebrate, I'd like to do a special show, exclusively featuring your stories.

1. Will you please record a quick 2- or 3-minute audio message telling us about the changes you've made in your life and how you've made financial progress in your life?

I think hearing your story will be so encouraging to all of us.

Also,

2. Will you please send me a picture of you and/or your family for me to post on my screensaver?

I'd like to create a picture gallery of who my listeners are so that I can picture you and record better information for you!

Email those two things to: joshua@radicalpersonalfinance.com

Thank you!

Joshua

I'm traveling today and unable to record.

Enjoy my recent interview on the Richer Soul podcast!

http://richersoul.com/2017/03/07/ep-0010-richer-soul-joshua-sheats-radical-personal-finance/

Joshua

I learned about business and money during my six years working as a financial advisor than at any other time period in my life.

Today I'm kicking off a series sharing some of the lessons that have most deeply impacted me. I'll share both the lessons I learned from business as well as the lessons that I learned from working with hundreds and hundreds of clients.

Lesson Number 1 is simple: Don't wait for business to come to you; go find it!

Joshua

• Looking for a financial advisor? Start here: www.radicalpersonalfinance.com/paladin
• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

It's Friday. Pay attention. That means the weekend is here. Have you planned and scripted it out for maximum results?

Do it.

Love you,

Talk next week...

Joshua

My guest today is a lady named Ruby. We met at Camp Mustache SE 2017 a couple of months back and I got to hear her immigrant story! She and her husband are both recent immigrants to the United States and they are aggressively pursing financial independence.

Enjoy her story!

Joshua

• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

I've been thinking about computer and data security this weekend and I decided to run with that theme for today's show.

I've compiled a simple list of 18 tips for you to enhance your financial security and financial privacy.

These range from the simple (#1 is for you to cover your PIN code with your hand) to the contentious (#10 is my advice as to whether you get greater security from using a credit card or a debit card).

But, they're all useful and free (or at least nearly free).

Enjoy!

Joshua

• Looking for a new financial advisor? Start your search here: www.radicalpersonalfinance.com/patron
• This is the Access Denied RFID blocking wallet that I have. http://amzn.to/2mZcZCJ
• Here's a ladies version of the Access Denied wallet. http://amzn.to/2md0a7K
• RFID blocking sleeves for your credit cards: http://amzn.to/2lPCcOm
• This is the MobileSec Cell Phone Blocker bag I mentioned: http://www.mobilesecsolutions.com/cell-phone-blocker
• I own this Amazon Basics paper shredder. It works really well http://amzn.to/2mPwiBy

My guest today is Gwen, writer at www.FieryMillenials.com

She is a hardcore saver who is working her tail off to reach financial independence and to teach others through her story.

This is an ideal follow-up to yesterday's advice to my 22-year-old listener.

Enjoy!

Joshua

• Please Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

Today I answer this listener question:

Hi Joshua,

I am a 22 year old recent college graduate. I have since landed a job and have been working for about 4 months now. Prior to graduating college, I was much less educated on money matters and hardly mindful about my personal finances. Upon graduating, I realized that I knew next to nothing about budgeting, saving, investing, and growing wealth. Additionally, many technical terms and aspects of finance confused me. Since I was going to be getting a “real job” soon and making more money than I ever have before, I decided to self-educate and rid myself of financial ignorance. I began reading books, blogs, watching YouTube videos, and listening to podcasts. I now find myself in a much better position to make sound monetary decisions.

Here is my current situation:
I live at home with my parents rent free.
I am extremely fortunate to have no debt from college.
I have no debt.
I work a full time job and save virtually all of that money. I work a part time job and use that money as my “spending money.”

Essentially, I am blessed to have a blank slate coming out of college.

The downside of my equation is that my full time job does not pay particularly well ~$31,000 a year and I live in an area with a high cost of living (northern VA).

Do you have any advice for someone like me who is just getting started in the real world and wants to begin a path to financial independence?

I do realize that a huge step would be to find a better paying job – I am working on that. However what would you suggest that I do in the meantime to add additional income and begin my journey to FI?

My goal is not to make this all about making more money, but rather to position myself in such a way that I can live life the way that I want. ALSO I want to be in a position where I can easily provide advice and assistance to those who are less well off than I am.

Thank you in advance for any advice that you can provide!

Enjoy!

Joshua

• Please support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

Today, I answer this question from a listener:

Joshua- Fan of the show and a Naval Officer. I have some questions on overall investing strategy.  I have close to 17 years in the Navy and will likely retire at 20 with a full pension (about $55k/year before taxes), currently have $440k in retirement savings for my wife and I split between Roths and TSP, have over $140k in college savings for my 2 kids (8 and 10 year old, plan on also transferring my GI Bill which will essentially pay for one of their college educations), and have about $30k in taxable accounts.  We are selling our house in Norfolk, VA this year-- been a rental for 5 years but we are moving from Tampa to Jacksonville where I will take Command of a Destroyer there.

So- my question-- I am looking at getting into real estate investing and slowing down retirement savings over the next 5 years (from about $25k/yr to $12k-- maxing out Roths and minimum to TSP).  Curious to hear your take on my overall situation and real estate investing writ large.  Ideally we'd put about $40-50k into things this year-- either buy and hold type rental properties or a flip- and then snowball any earnings plus about $30k annually over the next 4 years until I retire to setup passive income sources.  Thanks!

• Please support RPF on Patreon! www.radicalpersonalfinance.com/patron

Listener Allyn writes in with this question: "What are your thoughts on using whole life insurance as a college savings plan? If you don't like it, why?"

My thoughts are in the show!

Joshua

• Thank you for supporting the show on Patreon! www.radicalpersonalfinance.com/patron

Do you feel richer today than you did yesterday? If not, why not?

Joshua

• Daily by Seth Godin
• How to Get Richer Every Day by Mark Morgan Ford

Different people learn in different ways. For that reason, we need many new approaches to helping people learn about financial independence.

I'm glad to bring my new friends Jonathan and Brad on the show to talk about their project ChooseFI.com.

Operating under the banner "Experiments in Financial Independence," they're seeking to create a new approach to learning and teaching about financial independence.

Enjoy the interview!

Joshua

• www.ChooseFI.Com
• www.TravelMiles101.com
• Find a great financial advisor! www.radicalpersonalfinance.com/paladin
• Use the same budget software I use! www.radicalpersonalfinance.com/YNAB
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron

It's Friday! That means a live Q&A show. Today we tackle:

• Should I Get Rid of my 3rd Car?
• What is a Modified Endowment Contract and How Does it Work?
• What Should We Do With All This Extra Money our Church Just Received?

If you'd like to join a show like this and ask your question, sign up to become a Patron! www.radicalpersonalfinance.com/patron

Joshua

• Support RPF on Patreon! www.radicalpersonalfinance.com/patron
• Connect with us on the Facebook page https://www.facebook.com/RadicalPersonalFinance or in the Facebook Community Group! https://www.facebook.com/groups/RadicalPersonalFinance/

Today, I bring you an interview with the #1 most requested guest! Mr. Money Mustache himself.

I connected with him while up in Gainesville for Camp Mustache a couple of weeks ago.

This interview isn't about the nuts and bolts of Mustachian philosophy or on how to become financially independent in a few short years; those topics have been well covered elsewhere.

This interview is about his current life, current projects, and things he's excited about at the moment.

Enjoy!

Joshua

• Try Hello Fresh! Get $35 off your first order at www.HelloFresh.com with promo code RPF.
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron

Every day I mention that little slogan, "financial freedom in 10 years or less" in my intro. It's an aggressive, spicy little slogan. But I probably don't do a good enough job of highlighting what that phrase actually means and how many different ways it can be achieved.

Today I have a really fun profile of someone who has successfully achieved financial freedom in less than 10 years by capitalizing on AirBnB. And doing it with properties that she didn't even own!

Enjoy hearing Zeona McIntyre's story of financial freedom!

Joshua

• Zeona's website: https://www.zeonamcintyre.com/
• Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin
• Try a free 34-day trial of the YNAB budgeting software! www.radicalpersonalfinance.com/YNAB
• Support me directly on Patreon! www.radicalpersonalfinance.com/patron

Perhaps you've noticed that the topic of refugees has been in the news. The recent news sparked this question in the Radical Personal Finance Facebook group.

If I were unexpectedly detained/deported while I was traveling, with the uncertainty of my job or my possessions (or even my bank accounts) being accessible to me or even available to me if I were to somehow return, what would I do, and how would I manage? How might I create a plan to restart my life from scratch if I had to begin again in a different country?

I think it's a fantastic question!

Today I answer this question in 3 parts:

1. What can you do to prepare for detainment by foreign border guards?
2. What should you do if you're caught up in the mess created by the detainment of other people?
3. What can you do to set yourself up to start a new life in another country if you have to flee in the middle of the night?

Enjoy!

Joshua

• Support Radical Personal Finance as a Patron! www.radicalpersonalfinance.com/patron
• Ideas from the survivalist world on what you can carry with you in an airport carry-on.
• Witness.org has some great resources on filming protest and human rights violations.

 

I'm traveling today (appropriately enough), so I'm not able to serve you with a Q&A show today.

Instead, enjoy this recording of my appearance on the Nomad Together Podcast!

This show originally appeared on September 8, 2016 right here: https://nomadtogether.com/financial/

Joshua

I have a special treat for you today.

If you had the chance to sit down with the former President and CEO of Lehman Brothers and talk about his career and money, would you take that chance?

Well, I did.

And today I share it with you!

I sat down with my friend Andy Sage here at his home in Palm Beach with the microphones fired up for a discussion about his career in the business world, retirement, banking, and much more.

Enjoy!

Joshua

• Find a great financial advisor with Paladin: www.radicalpersonalfinance.com/paladin
• Get a free 34-day trial of the awesome YNAB budgeting software: www.radicalpersonalfinance.com/YNAB
• Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

I love to learn from people who have experienced great success in their lives.

But sometimes, you can learn more from failure than success!

Today, I've invited a new friend of mine on the show to learn what she learned from her massive failures in the past!

She and her husband were on the fast track toward wealth and financial freedom; they owned a ton of real estate and a thriving business.

And then they lost it all.

Listen to the episode for the gripping account of what that was really like!

Joshua

• Support RPF on Patreon! www.RadicalPersonalFinance.com/patron
• Build Your Budget Right with YNAB! www.radicalpersonalfinance.com/YNAB
• Use Personal Capital as your financial dashboard! www.radicalpersonalfinance.com/PersonalCapital 

My guests today are Joel and Alexis. I met them while hanging out at Camp Mustache SE in Gainesville and was intrigued by their story!

They went from being a fairly typical young couple with a small savings rate to being radical Mustachians, on track to retire in the next few years!

Enjoy learning how they worked through the problems and challenges to make this change!

Joshua

• Find a great financial advisor at www.radicalpersonalfinance.com/paladin
• Refinance your loans with SoFi and save on the interest! www.radicalpersonalfinance.com/sofi
• Please support me on Patreon! www.radicalpersonalfinance.com/patron
• PLEASE TAKE MY QUICK SURVEY! www.radicalpersonalfinance.com/SURVEY
• Joel and Alexis's brand new website! http://fi180.com/

 

Car leasing is the most expensive way to operate a vehicle. Car leasing is the cheapest way to operate a new vehicle.

Both of those statements are true.

In today's show I explain why!

And I explain how to get out of a lease if you have one.

Joshua

Time stamps (courtesy of a listener):
0:00 Intro
1:50 Sponsors
4:55 Auto leasing is the cheapest AND most expensive
7:42 “Depreciation” explained
13:38 How does leasing a car work?
16:58 The major problem with leasing, and who leasing is great for
24:26 How to get out of a lease

• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall
• Support me on Patreon: www.radicalpersonalfinance.com/patron
• https://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html
• http://www.clark.com/new-car-leasing-101
• http://www.swapalease.com/
• http://www.leasetrader.com/

Quick on-the-road show today to share listeners' suggestions, additional information, feedback, and questions.

Joshua

Timestamps: (thanks to the hard work of a listener!)

0:00 Intro
6:00 Joe recommends a “relationships” budget category, separate from “giving”. (Episode 408)
12:08 Rio asks how to separate personal and business budgets. (Episode 408)
14:36 Guy asks about budgeting for taxes. Should one start the budget using gross or net income? (Episode 408)
18:13 Artem comments about donating a body to science as being different from organ donation. (Episode 409)
20:03 Ross comments that funerals should also be considered a means of closure for the living. (Episode 409)
21:34 Hannah offers insight into the credit score that CreditKarma.com utilizes in its calculations. (Episode 411)
24:35 Guy asks if freezing you credit negates the need for ID protection/insurance services. (Episode 411)
26:38 Kevin offers up a tip of the day. (Episode 411)
27:13 James has concerns about the Personal Capital sponsorship. (Episode 413)
44:24 Advice to podcasters regarding ads, specifically CPA (cost-per-aquisition) vs. CPM (cost-per-thousand).

On Fridays I host a live Q&A show! This show is open for Patrons to call in and talk with me about anything they want to.

If you'd like to participate in this call, become a Patron! www.radicalpersonalfinance.com/patron

Today we tackle two questions:

1. Should I Follow Dave Ramsey's Baby Steps and Pay off My House Early?
2. I Had an Unexpected Child...Should I Finish Graduate School or Drop Out to Be a Mom?

Enjoy!

Joshua

• Start your year off right with a budget with YNAB: www.radicalpersonalfinance.com/YNAB
• Monitor all your investment accounts for free with Personal Capital! www.radicalpersonalfinance.com/PersonalCapital

My guest today is a man named Bill. We met at Camp Mustache SE this past weekend.

As soon as I heard a little bit of Bill's story, I knew I needed to get him on the show for you!

Bill is a really neat guy. He enjoyed a very fun and adventurous career wherein he primarily worked for himself. And then he retired early.

He's a man filled with wisdom.

You'll really enjoy this interview.

Joshua

• Support Radical Personal Finance on Patreon: www.radicalpersonalfinance.com/patron
• Find a new financial advisor here: www.radicalpersonalfinance.com/paladin
• Refinance your loans at SoFi! www.radicalpersonalfinance.com/sofi

Today I have a simple--but profoundly important--concept for you to consider and embrace: your personal safety.

There are small safety decisions that you can make that have a huge potential impact for you, both monetary impact and personal impact.

Enjoy!

Joshua

• Radical Personal Finance is supported directly by you! www.radicalpersonalfinance.com/patron
• Try a free 34-day trial of the awesome YNAB budgeting software: www.radicalpersonalfinance.com/YNAB
• Please take my quick demographic survey! www.radicalpersonalfinance.com/survey

I always keep my eyes out for interesting and unusual lifestyle stories. Last week when I was researching cheap coffin plans, I came across the $5 DIY coffin plans at PiedmontPineCoffins.com.

Upon further reading I became aware that Don and his family live entirely off-grid and that he creates his coffins entirely by hand!

Sounded like a fun story so I invited him on!

Enjoy,

Joshua

• Find an awesome financial advisor at www.radicalpersonalfinance.com/paladin
• Refinance your loans (or get a new one) at www.radicalpersonalfinance.com/SoFi
• Sign up to support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

This past weekend I had the privilege of addressing the very fun crowd of hardcore Mustachians gathered in Gainesville, FL for Camp Mustache SE 2017.

(Mustachian = acolyte of the Mr. Money Mustache blog and personal lifestyle and financial philosophy.)

I was invited to give a presentation and I chose for my topic, "Why Wait Until You're F.I. to Live Like You're F.I.?"

This addresses a theme I often see among the hardcore early retirement crowd. The idea is this: "My life stinks right now but it'll all be great after F.I."

But, is that the best way to approach it? Why not recognize that life can be great now and after F.I.?

Enjoy!

Joshua

• Please take my 20-second demographic survey! www.radicalpersonalfinance.com/survey
• Refinance your loans with SoFi and save money! www.radicalpersonalfinance.com/sofi
• Personal Capital is the world's best financial dashboard. And it's free! www.radicalpersonalfinance.com/personalcapital
• Support RPF on Patreon! www.radicalpersonalfinance.com/patreon

 

On Fridays we do a live Q&A show! If you'd like to join me on the next one, sign up to support the show as a patron! www.radicalpersonalfinance.com/patron

Today we cover:

• How Can I Gain Enough Experience to Use my CFP Designation?
• Can I Unwind My Parents Reverse Mortgage?
• How Do I Engage In A Meaningful Goal-Setting Process After a Layoff?

Enjoy!

Joshua

• Take my 20-second demographic survey at www.radicalpersonalfinance.com/survey
• Find a great financial advisor at www.radicalpersonalfinance.com/paladin
• Refinance your loans at an awesome great rate at www.radicalpersonalfinance.com/sofi

The health of your credit score is an important subject. It's important that you keep your credit report squeaky clean and your credit score high.

Today, I'm going to give you some simple, free tools to do so.

• How to check your credit reports for free
• How (and why) to freeze your credit reports
• How to monitor your credit scores for free

Joshua

• Please take my 20-second demographic survey! www.radicalpersonalfinance.com/survey
• Find an awesome financial advisor near you! www.radicalpersonalfinance.com/paladin
• Get a free, 34-day trial of the YNAB budgeting software I use. www.radicalpersonalfinance.com/YNAB
• Check your credit reports once each year, for free: www.annualcreditreport.com
• Clark Howard's credit freeze guide: http://www.clark.com/credit-freeze-and-thaw-guide
• Monitor your credit score for free: www.creditkarma.com

The Dow Jones Industrial Average has been steadily flirting with an all-time record of 20,000 points.

I certainly expect it to cross that threshold any day.

But, so what?

Today I tackle these three questions:

1. What does a 20,000 point DJIA mean?
2. What does it mean to you?
3. What should you do about it?

Enjoy!

Joshua

• Please take my super-quick demographic survey. You can do it right on your phone! www.radicalpersonalfinance.com/survey
• Set up your Personal Capital dashboard for FREE! www.radicalpersonalfinance.com/personalcapital
• Find a great financial advisor at Paladin Registry! www.radicalpersonalfinance.com/paladin

Ain't it strange how so many of the universal human experiences cost so much?

Childbirth. Marriage. Getting Old. Death. All of them can cost a bunch of money.

But does it have to be that way? Are there alternatives?

Yes.

Guess what: kicking the bucket doesn't necessarily have to break the bank!

There are ways to do it cheaper. If you want to.

Today I tackle funeral expenses. You might not be able to benefit from the savings, but at least your family can have a little more cash left over to celebrate your life!

Enjoy,

Joshua

• $5 buys you a set of plans to build a coffin for <$200 http://piedmontpinecoffins.com/diy-coffin-plans/
• Or, you can buy a simple wood coffin for $431, delivered. http://kentcasket.com/
• You can do a home funeral and even home burial in almost all the states. Here are the problem states: http://homefuneralalliance.org/the-law/problem-states/
• Start 2017 off right by finding a great new financial advisor! www.radicalpersonalfinance.com/paladin
• Set up all your accounts in Personal Capital for free! www.radicalpersonalfinance.com/personalcapital

What's the point of budgeting? Isn't it supposedly supposed to help you get richer?

Well, one way to make budgeting matter is if your budget categories actually help you to understand what's happening with your money.

Today, I walk you through some of my personal budget categories and explain how they impact my spending decisions.

I don't think you'll find these budget categories in any pre-existing software. But I do think they'll be really useful to you!

Joshua

• 246-You Need a Budget and Here’s the Best Way for You to Make One! Interview with Jesse Mecham, Founder of YNAB
• 273-Three Budgets You Should Establish for 2016: Time, Money, and Food
• Try YNAB free for 34 Days! www.RadicalPersonalFinance.com/YNAB
• Use Libsyn to host your very own podcast! www.libsyn.com Get first month free with coupon code "radical."
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron

I think RVs are awesome. In fact, my family just got back from a very fun 2-week RV trip last week!

But, RVs can also be a major money drain. Much like boats, it's easy to overestimate the pleasure you will get from it and underestimate the hassle.

In today's show, I share with you some of my ideas and thoughts on RVs:

• Where they work and where they don't
• Things to consider and keep in mind before you buy
• Advantages and disadvantages of the various types
• Tips for buying smart

Enjoy the show!

Joshua

• Start your budget for 2017 today! www.radicalpersonalfinance.com/YNAB
• Follow through on your financial resolutions by finding a great financial advisor: www.radicalpersonalfinance.com/paladin
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall
• Support RPF on Patreon www.radicalpersonalfinance.com/patron

Hey Radicals!

Happy new year!

I was planning to come into 2017 with a bang, but a stomach bug turned the bang into a fizzle for me. Oh well!

You'll be hearing some changes to RPF in coming days. I want you to know about those in advance, so tune in for a quick chat today!

Joshua

I missed a couple of important points on the previous show on Health Care Sharing Ministries (HCSMs). Today we wrap those points up with a quick discussion of:

• catastrophic protection
• deductibility
• HSA compliance
• pre-existing conditions

We also discuss:

• Self-Insurance
• Direct Primary Care/Concierge Care
• Catastrophic Coverage
• Dread Disease/Critical Illness Insurance
• Doctors on Call

Enjoy!

Joshua

• Start your new year off right by mastering your budgeting. www.radicalpersonalfinance.com/YNAB
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

 

Today I tell you why we don't have health insurance in my family and what we do instead! We continue our health insurance series today with a discussion of Christian Health Care Sharing Ministries.

Perhaps the Health Care Sharing Ministries shouldn't be in this series because they are not actually health insurance.

But, if you're a participant in an approved organization, you qualify for an exemption to the Obamacare tax penalty (for not having health insurance).

Personally, I love the concept of these organizations and I have nothing but good things to say about my experience with Samaritan Ministries (which is the one that my family participates in).

In today's show I give you a background of these companies and my own experience and opinion of them.

There are 5 major options for you:
1. Samaritan Ministries http://samaritanministries.org/ 
2. Christian Healthcare Ministries http://www.chministries.org/ 
3. Medishare – Christian Care Ministry https://mychristiancare.org/medi-share/ 
4. Liberty Health Share http://www.libertyhealthshare.org/ 
5. Altrua Health Share http://altruahealthshare.org/ 

Enjoy the show!

Joshua

p.s., if you join Samaritan Ministries, please remember to tell them that “Joshua Sheats” sent you so that I can get a small discount!

• Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin
• Listen to the Jack Waymire interview here: www.radicalpersonalfinance.com/284
• Join our RPF Facebook community! https://www.facebook.com/groups/RadicalPersonalFinance/
• Please leave an iTunes review for me! https://itunes.apple.com/podcast/radical-personal-finance/id896153632?mt=2&ls=1
• Please support me financially on Patreon. www.radicalpersonalfinance.com/patron
• Book a consulting call with me here: www.radicalpersonalfinance.com/phonecall
  
  

One of the major burdens that the passage of the Affordable Care Act placed upon us is that we are required by law to maintain health insurance coverage. Or, if we don't, we have to pay a tax penalty.

But, as with most taxes, the Obamacare tax penalty is, in some ways, optional.

In today's show I teach you all of the ways that I know to escape it!

We cover:

• How to calculate the tax penalty
• What happens if you don't pay the penalty
• All of the exemptions that you can qualify for

Enjoy!

Joshua

• Book a consulting call with me here: www.radicalpersonalfinance.com/phonecall
• Support RPF on Patreon! www.radicalpersonalfinance.com/patron
• Please leave a review for my show on iTunes! https://itunes.apple.com/podcast/radical-personal-finance/id896153632?mt=2&ls=1

If you're building a business, you may reach a point in time at which you need more money to expand your operation than you're currently receiving from your revenues.

Traditionally, this is where you would either go out and solicit more investors to back you or perhaps go and borrow money from a bank.

But, thanks to major changes in the law, there's another option now available to you: equity crowdfunding.

Equity Crowdfunding is a way for companies to solicit investments from individuals similar to how product crowdfunding sites like Kickstarter, et al, solicit sales from individuals.

There are tremendous possibilities here for you as a business owner.

But, don't skip this show if you simply don't own a business.

You may be interested in this topic from the perspective of a business owner! You can participate as an investor with these companies yourself!

Enjoy the show,

Joshua

• Get Nathan's Book on Amazon: "Equity Crowdfunding: The Complete Guide for Startups and Growing Companies"
• Or get a free sample chapter from his website: http://assembleadvisory.com/book/
• Please support me on Patreon! www.radicalpersonalfinance.com/patron

 

So, you set a goal for your income next year. Great! Good job!

That's a nice place to start.

But it does nothing for you if you don't translate it into an hourly income goal.

Listen to the show to find out why and how.

Joshua

• Join the RPF Facebook group! (It's free now!) https://www.facebook.com/groups/RadicalPersonalFinance/
• If you'd like to calculate your hourly wage, try this quick little calculator I made: https://docs.google.com/spreadsheets/d/1de4hvloZAoAXJCOsE9DZuRAAeNdO2skAIIxhR6lxGYU/edit?usp=sharing
• Please support me on Patreon! www.radicalpersonalfinance.com/patron

I learned the hard way not to wait until the end of December to think about how my past year went and how I wanted my next year to go.

Don't wait.

The first two weeks of December are your golden time for your year-end review process.

Details in the show!

Joshua

• Last-minute tax planning ideas for you: https://radicalpersonalfinance.com/last-minute-tax-planning-ideas-to-save-you-money-rpf0121/
• Take Michael Hyatt's awesome Life Score Assessment to help give you clarity on your success in 10 areas of your life: http://bestyearever.me/a18455/2017assessment

Happy Thanksgiving Day, Radicals!

Joshua

One of the thorny research projects which I'm personally undertaking is to study the most effective ways to invest my money and my life into my local community without passing through the financial services intermediaries.

Friends, it ain't easy.

Our entire world is wired to go through the mainstream banking/investment/etc. industry. And it's not easy to break free.

But, I'm convinced that it is possible.

So, I'm working on it.

And today, I've invited a new friend of mine on the show to explain how he does it.

Tim Yarbrough is an entrepreneur and investor from Alabama who has been in business for over 40 years. He has personally invested in dozens of companies there in his community.

Today, he shares his wisdom from 40 years of experience with you and with me.

Enjoy!

Joshua

• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

Today we continue our health insurance series with a discussion of the Premium Tax Credit.

The Premium Tax Credit is available for those whose income is between 100% and 400% of the Federal Poverty Level who purchase their health insurance through a government-run marketplace.

The dollar amounts involved can be substantial if you're in that range.

Pay attention,

Joshua

• IRS Publication 974: Premium Tax Credit
• Michael Kitces article on the Premium Tax Credit
• Support RPF on Patreon: www.RadicalPersonalFinance.com/patron
• Book a consulting phone call with me: www.RadicalPersonalFinance.com/phonecall

Today I've invited real estate investor Joe Fairless on the show. And yes, we chat about real estate.

But, I don't have him on to speak about real estate exclusively.

Rather, I want you to pay careful attention to how he got into real estate in the first step.

Pay attention to the arc of his overall career.

And then model him.

Joshua

• Joe's website: www.joefairless.com
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

Today, I share my thoughts on the Trump/Clinton election and connect it with a discussion of why I'm philosophically and morally opposed to Obamacare. (Hint: it's not because I hate sick people.)

Joshua

• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me! www.radicalpersonalfinance.com/phonecall

In case you haven't heard, this Presidential election is the most important one in your lifetime. And, it will retain that title until November 9 when the 2020 election will take over as reigning champ.

Not only is this the most important election of your lifetime, but if the wrong person is elected, we literally face the end of the world as we know it!

So, what are you to do?

Well, today's show contains my thoughts and advice around presidential politics as well as 10 things you can do that will actually make a difference after you've cast your vote for President of the United States.

Joshua

• Support RPF on Patreon: www.radicalpersonalfinance.com/patron

Today we embark on our journey through the wild and woolly world of health insurance.

This topic is utterly frustrating to navigate and incredibly divisive in philosophy.

Obviously, it's a perfect topic for Radical Personal Finance!

Joshua

• Support RPF on Patreon! www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

If you look at all of your expenditures and methodically add up all of the money you've spent in the last year on taxes (of all types), you will likely find that taxes are one of your largest spending categories.

So, in our constant quest to lower expenses, what can we do about that problem?

Well, you can engage in good, proactive tax planning and tax avoidance.

And, we've talked about that extensively here at #RadicalPersonalFinance.

But, have you ever thought about getting involved at the root of the problem? In working to roll back the taxes levied upon you at the seat of government?

Most of us haven't.

And the reason we haven't is that we are trained to automatically revert to fighting about national politics.

I'm convinced that national politics is utterly hopeless--at least for now. You have no voice, no power, and your involvement and even your vote are essentially meaningless.

But, take courage.

That doesn't mean that all is lost.

You can make a huge difference if you get involved in local politics.

Your voice and your work and your vote can make a huge difference at the local level.

My guest today is Paul Dorr. He is a former bank owner but he's now a political consultant.

He specializes in helping ordinary people organize themselves politically in order to defeat local tax increases. And he's very good at his job!

He's here today to share with us some of his tips and techniques as well as his personal story.

I think you'll find today's show inspiring and helpful if you care about the cause of liberty.

And it might even help you lower your tax bill.

Enjoy!

Joshua

• Paul's website: www.RollBackLocalGov.com
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

My guest today is Craig Cody, CPA, co-author of the book "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss."

We discuss:

• Paying your paying your kids in your business
• Renting your house out to your business
• Cost-segregation studies
• And more!

Enjoy!

Joshua

• Craig is offering a free copy of "Secrets of a Tax Free Life" to all listeners here: www.craigcodyandcompany.com/rpf
• Craig's company phone number is 516-869-4051
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Schedule a consulting phone call with me: www.radicalpersonalfinance.com/phonecall

 

Have you ever thought about engineering your layoff from your job as a means to advancement to your next opportunity?

After all, if you get laid off instead of quitting, there are a whole host of benefits to you. (severance, health insurance, etc.)

But, how do you do it?

And, is there a way to do it ethically?

My guest today has written the book on the subject.

His name is Sam and he is the writer behind the popular personal finance blog www.FinancialSamurai.com and his book is entitled "How to Engineer Your Layoff: Negotiate a Severance and Be Free!"

Enjoy the show.

Joshua

• Buy Sam's book "How to Engineer Your Layoff: Negotiate a Severance and Be Free!" here: www.radicalpersonalfinance.com/layoff
• Sam's website: www.RadicalPersonalFinance.com
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall

 

There are two phrases that we commonly use that are very destructive to your personal empowerment.

I recommend that you identify them and remove them from your vocabulary.

Try it!

You'll thank me later.

Joshua

• Support RPF on Patreon: www.radicalpersonalfinance.com/patron
• Book a phone call with me: www.radicalpersonalfinance.com/phonecall

The title says it all.

Joshua

p.s., Sorry about the double show on the last episode. I am presently without a working computer, but I'll fix it ASAP. 

From time to time we get buying opportunities that emerge from a wrinkle in the marketplace. I think I see an opportunity right now for those of you who are in the market for a new car with the 2017 Chevy Volt. Details in the show! Joshua

I shudder and cringe when I hear someone who's thinking about upgrading their car because the new one gets better gas mileage.

I don't often yell, but please indulge me for a moment. YOU SHOULD NOT UPGRADE YOUR CAR IN ORDER TO GET BETTER GAS MILEAGE!

And, I'll prove it to you.

Listen to this show. And then, download the free calculator I built years ago and plug in your own numbers to see whether you should upgrade or not.

I think you'll be glad you did.

Joshua

• Here's the link to my calculator. It's a simple Excel file I built many years ago: http://traffic.libsyn.com/radicalpersonalfinance/Joshuas_Fuel_Mileage_Savings_Calculator.xls 
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron 
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

This is an audio file containing Steven Harris's free Family Emergency Preparedness Class.

This class contains very useful and practical information regarding emergency preparedness.

Some of the material is becoming dated.

For all of Steven's current work, visit his website www.Steven1234.com and follow the appropriate links.

Joshua

This is an audio-only version of Wendy DeWitt's "Sensible Food Storage" seminar. This is the most practical, complete seminar on home food storage I've ever been able to find.

You can view the original video version of this file here: https://youtu.be/GY5kiCzaeYc

You can also download the PDF handouts of this seminar here with these links. 

This handout contains the instructions for how to do Wendy's system: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Under_the_Sun_by_Wendy_DeWitt.pdf 

This handout contains Wendy's sample meals with recipes and amounts calculated out for you: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Made_Simple_by_Wendy_DeWitt.pdf 

If you were unable to buy food for your family for the next couple of weeks, would you and your family be well-fed or would you be quite hungry at the end?

Today, we tackle the question of food insurance with a discussion of practical steps to take to build your own reserves.

I think it's very wise for you to make sure that you always have enough food in your house to feed your family for at least a few weeks, even better a few months, and perhaps even a year or more.

Since you can fit a year's supply of food under a twin bed, there's little reason not to plan ahead and store up some food.

But, it's tough to know how to do this.

I've divided this topic into two parts. The first show (#384) had a bit of the philosophy behind food storage and reasons for you to store up food.

Today's show (#385) has the practical advice for how to actually do it.

Enjoy!

Joshua

• Wendy DeWitt's Sensible Food Storage Seminar: 
  • Video: https://youtu.be/GY5kiCzaeYc 
  • Audio: http://traffic.libsyn.com/radicalpersonalfinance/Sensible_Food_Storage_Seminar_by_Wendy_DeWitt.mp3 
• PDFs of Wendy's handouts:
  • These are the notes from Wendy's seminar: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Under_the_Sun_by_Wendy_DeWitt.pdf 
  • These are Wendy's personal recipes for her own food storage: http://traffic.libsyn.com/radicalpersonalfinance/Everything_Made_Simple_by_Wendy_DeWitt.pdf 
• Support me on Patreon: www.radicalpersonalfinance.com/patron
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall 

If you were unable to buy food for your family for the next couple of weeks, would you and your family be well-fed or would you be quite hungry at the end?

Today, we tackle the question of food insurance. In short, I think it's very wise for you to make sure that you always have enough food in your house to feed your family for at least a few weeks, even better a few months, and perhaps even a year or more.

Since you can fit a year's supply of food under a twin bed, there's little reason not to plan ahead and store up some food.

I've divided this topic into two parts. This show (#384) has a bit of the philosophy behind food storage and reasons for you to store up food.

The next show (#385) has the practical advice for how to actually do it.

Enjoy!

Joshua

• Support me on Patreon: www.radicalpersonalfinance.com/patron 
• Book a consulting phone call with me: www.radicalpersonalfinance.com/phonecall 

When I make a significant purchase, I always try to pay attention to the process of that purchase.

I analyze my psychology and desire for the item, I consider carefully the decision process, and I consider the usefulness I get from the item and how much I enjoy and utilize it.

One major lesson I've learned is to always make sure to budget for the accessories to enhance the usefulness of an item.

Many times, the accessories you purchase for an item will make a dramatic difference in your ability to enjoy and use the item.

Detailed discussion of this concept in today's show!

Joshua

• Support me on Patreon! www.radicalpersonalfinance.com/patron
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

I recently read an article from the New York Times called, "It's Official: The Boomerang Kids Won't Leave." The story is a familiar one: adult children fall on hard times after college and need to move home in order to make ends  meet.

This is an experience that many parents have had.

The challenge is this: how do you get the kids to leave? What can and should you be doing in order to get them to a place of autonomy?

In today's show we tackle this subject.

We also cover some ideas for younger parents to implement in order to help your children avoid the boomerang effect in the first place.

Joshua

• Support RPF on Patreon. www.radicalpersonalfinance.com/patron
• Would you like to book a consulting call with me? Book here: www.radicalpersonalfinance.com/phonecall 

 

As I release today's show, Hurricane Matthew is threatening the east coast of Florida and the Carolinas. (Today's show is not specific to Hurricane Matthew. The content is useful in any natural disaster or hurricane. But I wanted to get this information to you in a timely manner so that those of you in the warning cone have an opportunity to prepare.)

Today's show is very practical. I cover:

• The most important need to address in advance of the storm: the ability to keep your phone and communications working without electricity.
• How to think about and plan for an evacuation plan.
• Simple and cheap ways to handle water and food when you have no power.
• How to use your car as a generator.
• And more!

Enjoy the show! 

Joshua

RESOURCES:

• You need to keep your phone functional and charged at all times. The easiest, simplest way to do this is by using an external backup battery. There are varying sizes available:
  • I own the Kmashi 15000mAH External Battery Power Bank. It's the cheapest I've found ($14 on Amazon for the black version) and should give you 5+ charges for your phone. It has a 4-star rating on Amazon with about 7,700 reviews. I've had no problem with it. http://rpf.link/2dO4v0Y
  • I also own the RAVPower 13000 mAH External Battery Power Pack. It works perfectly fine and is smaller and lighter than the Kmashi above. (This is the one that I prefer to carry in my pocket while traveling. The Kmashi above is too big to be comfortable in my pocket.) It should get you about 4 charges. But, at $27 on Amazon, it doesn't give you as much bang for the buck. http://rpf.link/2dP9SJF 
• Steven Harris has more information on keeping your cell phone charged at his excellent site: www.cellphone1234.com I chose to buy different batteries than he recommended because they were cheaper (but still highly rated) when I was shopping.
• The Berkey water filter system that we own and use is this one: http://www.directive21.com/products/royal-berkey-system/ (This is where we bought it from--Directive 21 did a fine job with service.) There are other sizes available.
• For information on how to power your house from your car, listen to Steven Harris's free class here at http://www.solar1234.com/ 
• The Eneloop rechargeable batteries that I use in all of my flashlights, kids toys, etc. are these on Amazon: http://rpf.link/2dbuiLA I use this 8-cell Powerex charger to keep them all topped up. http://rpf.link/2dXXdHc 
• The car battery charger that I recommended is from CTEK. http://www.ctek.com/ 
• For more great, simple, practical emergency preparedness tips, check out all of Steven Harris's websites here: http://www.steven1234.com/ 

 

 

Are you an employee?

Want to make more money?

Want to have a tremendous career?

Listen to this show.

Joshua

• Patronize me: www.radicalpersonalfinance.com/patron
• Talk to me: www.radicalpersonalfinance.com/phonecall 

On today's show I cover four of the major perils of success.

Both failure and success have danger points. You might think a lot about the dangers of failure. But are you aware of the perils of success?

Have you thought about what might happen to you as you continue to achieve success?

In today's show, I share with you four dangers of success...and I've fallen prey to all four of them.

Then, after that discussion, I share with you how--and why--I'm removing some of the filters that I've kept on the content of RPF.

Not a lot is changing with regard to what I actually produce on RPF. But my own mental decisions are changing and I am intentionally giving myself more freedom to tackle difficult subjects.

Details in the show!

Joshua

As mentioned in the show. Please:

1. Write me an email with "product question" in the subject line and ask me any question that you have. Or, just tell me the subject/topic/question you'd like me to do more content on.
2. Will you please review the show on whatever podcasting platform you use? iTunes, Stitcher, App Store--all are fine. One or two sentences is perfect and you can do it right on your phone.
3. Please support the show on Patreon. This is the best way to maintain a free and independent voice. www.radicalpersonalfinance.com/patron 
4. Do you have a specific question you'd like my advice on? Book a consulting call here: www.radicalpersonalfinance.com/phonecall 

My guest today is Jason Vitug. Jason has a very interesting story of beginning at the bottom of the work-world, advancing quickly to company leadership, and then walking away to pursue travel and personal business projects that seem to integrate more with his life vision.

Oh, and he wrote a book and just finished a 54-city speaking tour.

Enjoy the interview!

Joshua

• Jason's book: "You Only Live Once: the Roadmap to Financial Wellness and a Purposeful Life" http://rpf.link/2d7tsSN 
• Jason's websites: www.JasonVitug.com and www.Phroogal.com and www.RoadToFinancialWellness.com 
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron 
• Book a consulting call with me: www.radicalpersonalfinance.com/phonecall 

I recently appeared on Paula Pant's Afford Anything podcast for an in-depth discussion of the stages of financial independence.

The interview was one of the favorite interviews I've done in a while and I think you'll really enjoy it.

Enjoy!

Joshua

• The original post: http://podcast.affordanything.com/stages-financial-independence-joshua-sheats/