Radical Personal Finance

A lot of us face difficult situations. And it's tough to maintain a positive attitude. But, have you considered what some other people face?

What would you do if you were facing a >70% unemployment rate in your town?

What would you do if you were working a job that hadn't paid you in >6 months?

What would you do if you had electricity for only 2 hours per day?

After listening to today's show, I promise you'll look at the opportunities around you with a fresh appreciation. 

Enjoy!

Joshua

Bola's Fiverr profile:  https://www.fiverr.com/ipriest

Bola's publishing company: http://www.cryoutpublishing.com

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

Direct download: RPF0348-Interview_with_Bola.mp3
Category:podcast -- posted at: 6:29am MDT

June 1 is the start of hurricane season here in South Florida. June is always when I review my own hurricane preparedness plan and assess it for any weaknesses.

I've also kept a close eye on the Fort McMurray wildfires and the economic crisis currently underway in Venezuela.

Given these stark and vivid disasters, I've wanted to draw your attention to them as a way for you to consider how you're prepared to handle them.

Today I focus on the importance of money--specifically having some available to you in times of crisis.

Enjoy,

Joshua

Direct download: RPF0347-Money_in_Times_of_Crisis.mp3
Category:podcast -- posted at: 3:00pm MDT

Today I've invited Jules Haas on the show to talk real estate entity selection and estate planning.

Jules has an especially interesting perspective given where he lives and practices law: downtown New York City.

We discuss:

  • how to decide if you should own real estate within an entity or not
  • how to own real estate with maximum privacy (and why it's important)
  • estate considerations for different methods of ownership

Enjoy!

Joshua

Direct download: RPF0346-Jules_Haas_Interview.mp3
Category:podcast -- posted at: 7:07pm MDT

Today on Radical Personal Finance we veer into an interesting niche in the real estate market.

Do you have an appreciated rental property with a lot of equity in it? Would you like to know how to transition out of that personally managed property into a professionally managed portfolio without paying capital gains taxes on the transfer?

That's what today's interview is about.

My guest is Leslie Pappas. She's an expert at using 1031 Exchanges and Delaware Statutory Trusts in a very specialized segment of the real estate industry.

Enjoy learning about this niche!

Joshua

Direct download: RPF0345-Leslie_Pappas_Interview.mp3
Category:podcast -- posted at: 12:42pm MDT

My guest on today's show is Mr. Groovy, writer at the eponymous website www.FreedomIsGroovy.com 

He reached out to me and pitched me for some exposure for his idea of a Junior IRA. I accepted his request and invited him on the show.

I also thoroughly enjoyed hearing his story of getting free financially with a simple geographic move. There's a lesson in there for many of you.

Enjoy the show!

Joshua

Direct download: RPF0344-Mr._Groovy_Interview.mp3
Category:podcast -- posted at: 3:12pm MDT

On Fridays, I do a live Q&A call for patrons of the show.

Today we cover:

  • When Should My Wife Take Social Security?
  • Should I Buy Term Life Insurance as an Investment?

If you'd like to join a Q&A call, become a Patron of the show at www.radicalpersonalfinance.com/patron 

Joshua

Direct download: RPF0343-Friday_QA.mp3
Category:podcast -- posted at: 2:53pm MDT

I'm always keeping my ears out for interesting ways to earn a living--or a side income. And today, I've got exactly that for you.

My guest today is Brad DeGraw. Brad is an expert at selling stuff through Amazon.

He claims to have started with $100 and a WiFi connection and to have turned it into over $1,000,000 in sales to date.

Enjoy the interview!

Joshua

Direct download: RPF0342-Brad_DeGraw_Interview.mp3
Category:podcast -- posted at: 2:28pm MDT

My guest today is Matt Hall. Matt is a financial advisor who learned the hard way what works and what doesn't in the world of financial advice.

One of the missions of Radical Personal Finance is to pull back the curtain from the world of financial advice. I do my best to ask direct questions of financial advisors and give them an opportunity to share their perspective.

Enjoy!

Joshua

 

Direct download: RPF0341-Matt_Hall_Interview.mp3
Category:podcast -- posted at: 1:41pm MDT

On Fridays, we do a live Q&A show! Today, we cover:

  • Should I Get Disability Insurance if I'm Only Working for Two Years
  • What Happens to Disability Insurance If I'm Changing Jobs
  • How Should I Save Money For My 9-Month Old Daughter's House
  • Should I Work Three More Years In Order To Vest in my Pension

Enjoy!

Joshua

Direct download: RPF0340-Friday_QA.mp3
Category:podcast -- posted at: 10:00am MDT

Today we continue our disability insurance series. We cover:

  • Why it's so hard to compare disability insurance policies to each other
  • Long-term disability insurance vs. short-term disability insurance
  • Benefit periods (2 years, 5 years, to age 65, etc.)
  • Elimination periods (2 weeks, 45 days, 90 days, 6 months, 1 year, etc.)
  • Continuance provisions (noncancellable, guaranteed renewable, conditionally renewable)

Enjoy!

Joshua

Direct download: RPF0339-LTD_vs_STD_Benefit_Elimination_Periods_etc..mp3
Category:podcast -- posted at: 1:12pm MDT

Today we speak with Jeff, the Happy Philosopher. Jeff is a doctor who was finding himself increasingly dissatisfied with his job. 

Knowing that if he didn't make a change, he would find himself totally burned out, he managed to re-negotiate his work agreements in order to build a better lifestyle.

This is an option that many of you should consider.

Enjoy!

Joshua

Direct download: RPF0338-Jeff_The_Happy_Philosopher_Interview.mp3
Category:podcast -- posted at: 2:29pm MDT

If you could only choose one type of insurance coverage to have, I believe you should buy disability insurance.

In today's show, I seek to persuade you to agree with me.

In short, this is my sales pitch for disability income insurance.

Enjoy!

Joshua

Direct download: RPF0337-Why_You_Should_Buy_Disability_Insurance.mp3
Category:podcast -- posted at: 2:42pm MDT

On Fridays, we have Q&A! And today, I have some fun questions for you.

  • My Advice on Starting an Experts Business
  • How to Transition from a Stable Career to Unstable Entrepreneurship Opportunity 
  • Joshua's Thoughts on the Banking System and It's Problems
  • How to Become a Better Salesperson

If you'd like to participate in a Friday call, join the show as a Patron! www.radicalpersonalfinance.com/patron 

Joshua

Direct download: RPF0336-Friday_QA.mp3
Category:podcast -- posted at: 2:00pm MDT

I've decided--after many, many requests--to offer paid phone consulting to you, the audience.

If you would like to consult with me on any topic of your choice, I'm now available to you! (Just use this link: https://radicalpersonalfinance.com/phonecall )

I think you'll be interested in the backstory of why I've gone back and forth on offering this service.

A new technology offering is what has made the difference.

Listen to the show for details.

Oh, and by the way...I want you to copy me!

For some of you, this might be a sweet little business idea for you!

Joshua

Direct download: RPF0335-My_New_Consulting_Business.mp3
Category:podcast -- posted at: 11:18am MDT

Ever wondered what the actual practice models are for financial advisors? Today, I've invited Sean Kernan on the show to talk about the inside business of financial advice.

Sean is a financial advisor who started his career at the large wirehouses and later transitioned to be independent. 

Since then, he's started a website and podcast to help other advisors called "How to Go Independent."

If you'd like to listen in on two financial advisors discussing what the industry is actually like on the inside, enjoy this show!

Joshua

Direct download: RPF0334-Sean_Kernan_Interview.mp3
Category:podcast -- posted at: 2:08pm MDT

Today on RPF, I answer your questions:

  • How to Lower Work-Culture Costs Without Being Perceived as a Grinch?
  • Should I Take Out a TSP Loan or Student Loans for Grad School?
  • Should I Take a Year Off To Try a Business or Go Directly to Grad School?
  • How To Profitably Invest Paternity Leave?

Enjoy the show!

Joshua

Direct download: RPF0333-QA.mp3
Category:podcast -- posted at: 2:19pm MDT

Today on RPF, I answer your questions!

  • How to Sell Whole Life Insurance to Buy Term & Invest the Difference People
  • How to Help People Get Experience So They Know What Kind of Work to Do
  • Joshua's System of Marginalia
  • Savoring Books vs. Gulping Books

Enjoy the show!

Joshua

Direct download: RPF0332-QA_Show.mp3
Category:podcast -- posted at: 4:46pm MDT

My guest today is Chad Carson. Chad is a real estate investor and financial freedom pursuer. 

I've invited him on today's show to share his story of how he began investing in real estate with no money and how he's built his empire to a place of financial freedom today.

Enjoy!

Direct download: RPF0331-Chad_Carson_Interview.mp3
Category:podcast -- posted at: 10:02am MDT

Today on Radical Personal Finance we dig into the topics of living cheap and well!

My guest is quite the radical guy and he's here to share with us what he's learned regarding:

  • figuring out how to live a great life on very little money
  • figuring out how to build an income from selling things through an online shop

Enjoy the show!

Joshua

Direct download: RPF0330-Nate_Dodson_Interview.mp3
Category:podcast -- posted at: 3:09pm MDT

Marketplace lending (a.k.a. peer-to-peer lending) is steadilyadvancing in impact and popularity. Although it's certainly not yeta dominant form of cashflow for borrowers nor is it a dominantinvestment choice for investors, it is on the steady growth and itsimpact is being felt.

My guest today is a front-seat commentator and active investorin this marketplace.

Peter Renton is the founder of LendAcademy.com and the LendItconference.

He's here today to bring us up to speed on the peer-to-peermarketplace!

Enjoy!

Joshua

Direct download: RPF0329-Peter_Renton_Interview.mp3
Category:podcast -- posted at: 2:33pm MDT

On Fridays, we do a live Q&A call. If you'd like to join the call, sign up here: www.radicalpersonalfinance.com/patron 

Today we discuss:

  • The Language of Marginal Tax Deductions
  • Volunteering as an Income Tax Preparer for Low Income People
  • Are Cash Value Life Insurance Policies a Good Place for an Emergency Fund

Enjoy!

Joshua

Direct download: RPF0328-Friday_QA.mp3
Category:podcast -- posted at: 12:18pm MDT

Medical expenses represent a large percentage of our lifetime expenditures. But do they need to?

My guest today is a practicing physician and he's here to share with us where we can rationally cut back and scrimp and save when it comes to medical expenses.

This area of thought is one of the most taboo areas when it comes to frugality.

Many people who are otherwise quite frugal have an immediate, visceral reaction of condemnation when someone announces they're making different medical decisions in order to save money.

But is this the correct reaction? Or can someone rationally think for themselves and pick and choose the medical care that's right for them?

You be the judge of that!

Joshua

Direct download: RPF0327-Mohammad_Ashori_Interview.mp3
Category:podcast -- posted at: 4:00am MDT

Immigrants to the United States are much more likely to become millionaires than are natural-born citizens. And although my guest today lives in Canada, the parallel is clear.

Dan Lok had a challenging beginning to his career, not the least of which was that he had to begin with learning and improving his English language skills!

His foray into the world of employment came as a 16-year-old earning minimum wage. He quickly realized that he needed to go into business for himself and he hasn't looked back.

Today, he is a multi-millionaire and owner of multiple, highly profitable businesses.

I've invited Dan on to today's show to learn from his experiences and insights.

Enjoy this unique look into an entrepreneur's story and lessons learned!

Joshua

Direct download: RPF0326-Dan_Lok_Interview.mp3
Category:podcast -- posted at: 4:42am MDT

I love to explore interesting financial markets which are accessible to the common person who demonstrates a little bit of interest. Today we dig into one such market: guns.

I've invited James Wesley, Rawles onto the show today to discuss how you can intelligently invest in guns as a means to wealth.

We cover:

  • Speculative approaches and non-speculative approaches.
  • How to leverage small amounts of money by buying specific firearm components.
  • Interesting little wrinkles in the marketplace.
  • Etc.

Enjoy the show!

Joshua

Direct download: RPF0325-Jim_Rawles_Interview.mp3
Category:podcast -- posted at: 12:54pm MDT

On Fridays, we do Q&A! Today we cover:

  • How to Invest $1k to 10k?
  • How to Prioritize Competing Goals?
  • Should I Stay in my Current Job Until I'm Vested?
  • What Kind of Retirement Plan Should Middle-Age Hotel Owners Establish?

If you'd like to participate in these Friday calls, become a patron of the show at www.radicalpersonalfinance.com/patron

Enjoy!

Joshua 

Direct download: RPF0324-Friday_QA.mp3
Category:podcast -- posted at: 4:00am MDT

One of our primary charges as parents is to raise our children from dependency to maturity and independence. One major component of this task is to teach them to be economically self-sufficient.

How do we do this? Where does it start?

Well, I believe we need to tackle this at a very young age. The earlier the better. 

In today's show, I'll tell you my ideas on the topic.

Enjoy!

Joshua

Direct download: RPF0323-Teach_Your_8-Year-Old_to_Earn.mp3
Category:podcast -- posted at: 1:37pm MDT

My guest today is Nicole Bryan. Nicole began her career as a schoolteacher with a pile of student loans. Today, she is on track to be financially independent by her 40th birthday.

Her story will be incredibly valuable for you as it will demonstrate the feasability of achieving financial freedom for almost all of us!

Listen and enjoy!

Joshua

Direct download: RPF0321-Nicole_Bryan_Interview.mp3
Category:podcast -- posted at: 11:28am MDT

My guest today is Michael Melissinos. Michael is a trend-following investment manager who has systematically built his own firm over the past few years.

Michael's story presents both a case study of entrepreneurship (how to go from jobs that are poorly suited to you to an entrepreneurial venture) as well as insight into various aspects of trading from a trend-following perspective.

Enjoy the show!

Joshua

Direct download: RPF0321-Michael_Melissinos.mp3
Category:podcast -- posted at: 4:55am MDT

RPF is on Spring Break this week so I'm posting some different content than my normal show. This is a speech that I gave to a local podcasting meetup group here in South Florida called "Breaking all the Rules of Podcasting." It contains my advice to a roomful of new and aspiring podcasters. The speech was delivered on 09/12/2015.

Direct download: RPF0320-Speech_to_South_Florida_Podcast_Group_on_9-21-15.mp3
Category:podcast -- posted at: 4:00am MDT

(RPF is on Spring Break this week, so I'm sharing some interviews with you where I've been featured on other shows. Enjoy! -Joshua)

“I don’t think failure is a mark of shame. Failure and mistakes are inevitable.”

Things Joshua talks about in this episode:

  • Why a “hunch” helped him move into his podcast career
  • Why he had to ignore the advice of people around him to start the podcast
  • Why he had to quit his job to start his podcast
  • How he “mitigated” the details of failure
  • When we do fail, let’s fail in small, manageable ways and make sure we have backup plans
  • Why his podcast fills a gap he could not find anyone else filling
  • Why he started his business with a podcast
  • What social media platforms he uses to engage his audience and market the podcast
  • His advice for people who want to start their business on digital platforms
  • Why he thinks people confuse a platform and a tool with content and a strategy
  • The podcast is not the benefit, it’s simply the tool that we use to deliver the content
  • Why he follows NO ONE on social media
  • Why he schedules free time and focus days

Resources

  • Patreon (for tips)
  • Voice Dictation on iPhone 6+
  • Dragon Naturally Speaking
Direct download: you035.mp3
Category:podcast -- posted at: 4:00am MDT

(RPF is on Spring Break this week so I'm posting some interviews where I've been featured on other shows. Enjoy my comments on sales in this interview with The Sales Evangelist! -Joshua)

How well do you listen to your clients? Well, our guest today illustrates the power of listening! By the end of the show, you’d most likely figure out why it does help to just shh…

Our guest on today’s Sales From the Street episode is Joshua Sheats, host of The Radical Personal Finance Podcast.

Coming from a six-year career in life insurance and investment sales with Northwestern Mutual, Josh eventually launched his own organization, Radical Personal Finance, where he hosts a daily, in-depth personal financial planning podcast teaching people how to become financially independent in 10 years or less.

Listen in as Joshua brings a tad wealth of information to the table which you can apply and help steer you towards the road to success.

Here are the highlights of my conversation with Josh:

Some challenges Josh faced:

Overcoming the deep-held fear of sales
Finding the right time to make the transition from working hard to get referrals/prospects

How Josh overcame these challenges and how you can do the same too:

  1. Have a prospecting system.
  2. Spend more and more time listening and less and less talking. The more you listen in sales, the better the results. Ask more questions and listen to what they have to say.
  3. Authentically create a feeling among clients of being heard and listened to. “I learned that if you listen well enough, people will think that you know what you’re talking about because of the way you made them feel.” – Joshua Sheats
  4. Have a script. Focus on how you say it instead of what to say. Engage people, not thinking about what you’re going to say, but about how they’re feeling and responding to what you say. Have a script and know your script. Focus on internalizing the words until you forget about the words and dig into the delivery.
  5. Know where to lead people. Have a script and know where to lead people. This allows you to take the time tested on approaches from professional selling then hone them and make them more elegant for today’s world.

How to be Very Good on the Phone:

  • Listen to everyone around you. Record yourself and do the exact opposite.
  • Study and listen from other people.
  • Take a short pause after saying your name. (This makes it sound like the client knows you.)

Joshua’s Major Takeaway:

If you do good work, that will speak broader than any tactic or technique. If you are a person worth referring to, you won’t need any tricks or gimmicks. Good technique is important for good salespeople. Do both good work and great technique. Focus on being a person who’s worth referring to, worth buying from, and being an expert in your industry.

Direct download: TSE_224_1.mp3
Category:podcast -- posted at: 4:00am MDT

RPF is on Spring Break this week so I'm publishing some podcasts where I've been interviewed on other people's shows.

This episode is a follow-up appearance on Nick Hazelton's podcast wherein he solicited my advice and comments on his self-education plan.

Joshua

Direct download: joshuaselfeducationplan.mp3
Category:podcast -- posted at: 4:00am MDT

(I'm on Spring Break this week, so I'm posting an episode of Stacking Benjamins which featured my advice on how to invest to be Dave Ramsey. -Joshua)

How do you become Dave Ramsey? You invest a certain way…and it isn’t the way Dave Ramsey tells you to invest. We welcome Joshua Sheats to the show from Radical Personal Finance to talk about becoming wealthy. What does it take? What does that mean for concepts like diversification, risk and insurance planning? We’ll cover all of those.

Of course, to honor Joshua, we have a LONG episode today, packed full of fun. In the headlines we’ll tackle the reason executives DON’T hire people (it’s not what you think). We’ll handle a great call about changing investments on the Quotacy hotline, and tackle more on Roth IRAs, diversification and the movie the Big Short. Whew! But that’s not all. We have more headlines, trivia and the big “so what” like the cherry on top of the show at the end of the episode.

Direct download: SB309_Investing_to_BE_Dave_Ramsey_with_Joshua_Sheats.mp3
Category:podcast -- posted at: 4:00am MDT

Hey Radicals!

RPF is on Spring Break for the next few weeks. (I do promise to go to the beach at least once--but no bikini pictures on Facebook for me!)

I will release a few sporadic shows including some interviews with me which have appeared on other shows.

In the meantime, if you're looking for something to listen to, I encourage you to check out the archives of the show!

I do my best not to repeat topics, so if you're a new listener, you'll find a wealth of topics in the archives of the show.

Download the free Radical Personal Finance app in the app store on your phone and you'll have full access to all the archived shows.

Enjoy!

Joshua

Direct download: Spring_Break.mp3
Category:podcast -- posted at: 1:02pm MDT

On Fridays, we have a live Q&A show. Today we cover these two questions:

  1. Should I Switch from Employment to Self-Employment to Save Money?
  2. How do I Decide Between Model Portfolio Asset Allocations?

If you'd like to join a call like this and have your question appear on the show, simply become a Patron of the show here: www.radicalpersonalfinance.com/patron 

Enjoy!

Joshua

Direct download: RPF0319-Friday_QA.mp3
Category:podcast -- posted at: 10:24am MDT

For most people, housing decisions are the largest financial decisions that they will make. And the mortgages usually associated with housing are the largest debts most of us will take on.

And yet how much time and energy do we actually invest into researching these decisions? 

For most of us, the answer is not much.

My guest today is Casey Fleming and he's here to help us navigate the waters of the mortgage market with some clear, up-front advice.

Enjoy the show!

Joshua

Direct download: RPF0318-Casey_Fleming_Interview.mp3
Category:podcast -- posted at: 1:35pm MDT

I love to discover unique people who embrace an unusual lifestyle. My guests today are a perfect example of such a lifestyle!

Shane and Julie Good live part-time in a converted school bus and part-time in a tiny house that they built themselves. That's impressive.

But, even more interesting...they do it with their seven young children!

Many people let their children get in the way of their adventures. Not the Good family! Their family is fully integrated in everything they do!

Enjoy the interview explaining how they came to this unique lifestyle and what they've learned along the way!

Joshua

Direct download: RPF0317-Shane__Julie_Good.mp3
Category:podcast -- posted at: 3:18pm MDT

On Fridays I do a Q&A show for Patrons of Radical Personal Finance. If you'd like me to answer a question for you, go here for information: www.radicalpersonalfinance.com/patron 

Today I answer:

  • Should I Stay At A Job to Get Student Loan Forgiveness?
  • When is the Ideal Age to Buy a Single Premium Immediate Annuity?

Enjoy!

Joshua

Direct download: RPF0316-Friday_QA.mp3
Category:general -- posted at: 3:00am MDT

On Episode 133 of the show, I had a listener ask me for my opinion regarding the concept of "mortgage acceleration."

Basically, it's the idea of taking out a HELOC on your house instead of (or in addition to) a traditionally amortizing mortgage, putting all your income against the HELOC and then paying your bills out of the HELOC.

The key idea with this strategy is that the average daily balance of your account is lower, reducing your interest payments.

In Episode 133, I was critical of the idea and the book that espoused it.

Today, I've brought the author of that chapter in the book on to defend the idea of mortgage acceleration as vigorously as possible.

Enjoy the show!

Joshua

Direct download: RPF0315-Bill_Westrom_Interview.mp3
Category:podcast -- posted at: 2:40pm MDT

Have you ever wanted to invest through an IRA or 401(k) for the purpose of early retirement but found yourself stymied by the thought of paying a 10% penalty tax to gain access to your money?

Well, on today's show I've got good news!

If you invest through an IRA or 401(k) but later take the INCOME from the account to pay for an early retirement, you may still come out ahead of the taxable account, even though you need to pay the additional penalty tax!

Check out the show and attachments for details!

Enjoy.

Joshua

Direct download: RPF0314-Use_an_IRA_for_Early_Retirement_Even_with_the_Penalty.mp3
Category:podcast -- posted at: 10:23am MDT

What would you do if you left your big-shot corporate gig to pursue an entrepreneurial venture which then fell apart?

And then you ran for public office? And lost.

And then wound up living in your in-law's garage completely flat broke.

Would you then go back, admit defeat, and rejoin the corporate grind?

Or, would you continue pursuing your dream lifestyle in a systematic way?

My guest today went through that exact process of life. And he's systematically worked to build his dream lifestyle with his family.

Today we sit down with Clark Vandeventer, author of "unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now."

Clark has a very encouraging story to share and a wealth of experience in building his ideal lifestyle on the cheap.

Enjoy!

Joshua

Direct download: RPF0313-Clark_Vandeventer_Interview.mp3
Category:podcast -- posted at: 3:00am MDT

Today, I respond in detail to this question from a listener:

Hi Joshua,

I have been really into personal finance for about 5 years now and am considering becoming a financial advisor, specifically with a large company like you used to work for.

I am currently a 31 year old physician making around $150,000. I have spent a long time preparing for my career, but I am always drawn to becoming a financial advisor.

The medical field is becoming increasingly draining with charting, liability, decreasing reimbursement, increased regulations etc.

The problem is in my career I can only make so much money. I can see some more patients everyday, but eventually you can only work so much and with that will just take more time.

I already work from 8am-8pm everyday not even including my commute. More patients would just add more time to that. Quite frankly, with the liability and difficult patients I see all the time, I don't think I am paid enough of a premium to take on the risks I take.

I know everyone says they aren't paid enough, but I can literally be sued for anything, especially the surgeries I do. In addition, the aggravation of arguing with some patients on deductibles they owe, co pays etc. I don't know if you know what its like to argue with someone about a $32 bill after giving them necessary medical services because they have "insurance" and feel they are entitled to everything medically related for free, but it is draining.

I would love to hear your thoughts on becoming a financial advisor with a company like you were with.

  • What were the pros and cons?
  • What kind of income can I expect and within how long? I have spoken to a few agents, but I know you will give me the "real" story.
  • What was a day like for you?
  • When did you really start taking off with your career there?
  • Do a lot of people not make it? Why not?
  • How do you actually make money as an advisor? Consulting fees? Ongoing commissions? Upfront fees for selling something?
  • Do you develop a niche or do everything? Estate planning, group benefits, just individual consultation, etc.?
  • I always imagine being in a nice, clean office, creating a plan for people's finances. Is there a bad side to the business in terms of lifestyle?
  • Is it really difficult finding clients? I know there are hundreds of thousands of advisors so there is a lot of competition.
  • Does the location where you practiced as a financial advisor make a big difference in income/quality of life and if there is a big gap in income between places like West Palm Beach, FL vs Dallas, TX vs Northern Virginia near DC, etc.
  • Also, is it easy to transition from one location to another once you get started or is that a huge set back?

I am a religious listener to your show. Not only have I listened to every episode, but I have done so numerous times. I have all the frugality and investment stuff down for the most part, but trying to explore the whole quality of life and "work as if I can never retire" type of mentality.

This is obviously a huge decision so I wanted to get as much detail on the job as possible.

I would really appreciate your advice and promise I will follow up with you to let you know how everything turns out. I understand how busy you are so if you can't spare any time on this, I understand.

Thanks so much.

K

Direct download: RPF0312-Whats_the_Financial_Advisor_Career_Actually_Like.mp3
Category:podcast -- posted at: 2:19pm MDT

On Fridays, I do a Q&A call-in show which is open to Patrons of the show. Today we cover:

  • Can US Americans Be Transformed Back Into Savers
  • Should I Pay Off My Mortgage Early
  • Should I Rent Out My Backyard as a Lot for a Tiny House
  • The Prospect of Creating Radical Personal Finance in Spanish

If you'd like to participate in a Q&A call like this, please become a Patron of the show here: www.radicalpersonalfinance.com/patron 

Direct download: RPF0311-Friday_QA.mp3
Category:podcast -- posted at: 3:00am MDT

I've been wanting to bring lots more "brick-and-mortar-type" entrepreneurs and success stories on the show. There are tons of incredible people out there that we can learn from.

But, I've learned that it's actually tough for me to get them on the show!

Generally, people with money who have nothing to sell don't seem to want to talk publicly about what they've learned.

But, even though it's tough, I'm still working on it.

And today, I get to bring you one of this type of interview.

My guest today is a former boss of mine, Warren Prescott. He's a great guy who started with few advantages in life. 

He started as a plumber's assistant as a teenager and today he's a wealthy businessman here in South Florida.

Enjoy learning from his experience!

Joshua

 

Direct download: RPF0310-Warren_Prescott_Interview.mp3
Category:podcast -- posted at: 1:00pm MDT

I've featured several doom-and-gloom guests on recent shows. I like to give people an opportunity to make their case to me as convincingly as possible and I always enjoy challenging myself with catastrophic predictions.

But I struggle with a lot of the advice from those who predict global chaos in short order. Frankly, much of it is impractical.

So, in today's show I tackle the subject the way that I would tackle it if I were asked for my practical advice on the subject.

I hope it's useful for you!

Enjoy,

Joshua

Direct download: RPF0309-How_to_Respond_to_Dire_Financial_Predictions.mp3
Category:podcast -- posted at: 3:21pm MDT

I like to share as much "behind the curtains of the financial advice industry" stuff as possible. But I like to do it from a diverse perspective.

If you like seeing how good financial planning can dramatically impact a real-life scenario, this is a show for you.

My guest is Patrick Renn, a 35-year veteran of the financial planning industry. Patrick runs a wealth management firm in Atlanta, GA and specializes in helping his clients develop well-designed charitable giving programs.

If you enjoy seeing nuts and bolts of financial planning applied in the real world, you'll enjoy this show.

Enjoy!

Joshua

 

Direct download: RPF0308-Patrick_Renn_Interview.mp3
Category:podcast -- posted at: 3:19pm MDT

On Fridays I do a Q&A show for Patrons of the show. www.radicalpersonalfinance.com/patron 

Today, we cover these topics:

  • Thoughts on Giving Unsolicited Advice
  • Average Rate of Return vs. Real Rate of Return
  • Group Life Insurance and Long-Term Disability Insurance Decisions
  • and More!

Enjoy the show!

Joshua

Direct download: RPF0307-Friday_QA.mp3
Category:podcast -- posted at: 5:56am MDT

I recently had the opportunity to interview Robert Kiyosaki, the author of Rich Dad, Poor Dad, which is the top selling personal finance book of all time.

The concepts of Rich Dad, Poor Dad are well known in the personal finance circles. 

Rather than trying to get Robert to outline the content of his 20 books, I sought to unwrap a little bit of the man behind the story.

You can judge how I did!

Enjoy the show,

Joshua

Direct download: RPF0306-Robert_Kiyosaki_Interview.mp3
Category:podcast -- posted at: 9:46am MDT

In January 2013, I bought a house, proceeded through the whole process really carefully and thought I'd made some pretty good decisions. 

But a couple months after closing, I found out that I'd missed an awesome tax credit and kissed $2,000 a year goodbye. How frustrating!

I hate missing out on free money, especially when I can get it out of the coffers of the US Government!

So, I want to help you do better. And I want to teach you about the Mortgage Credit Certificate (MCC) program.

Enjoy!

Joshua

 

Direct download: RPF0305-Mortgage_Credit_Certificates.mp3
Category:podcast -- posted at: 1:00pm MDT

On Fridays, we do a Q&A phone conference here at Radical Personal Finance. Today's call was unusual in that we only had one caller, so we spent a lengthy amount of time discussing one particular issue.

Today's caller was responding to a previous podcast about how my wife and I handle our finances, specifically with regard to my role as a husband and her role as a wife.

We had an excellent conversation on the role of earning money versus the role of being a parent and how to work that out within the context of a family.

Enjoy the show!

Joshua

Direct download: RPF0304-Friday_QA-Full-Time_Mothers_and_Fathers.mp3
Category:podcast -- posted at: 12:00pm MDT

Will you pay less taxes when investing in a Traditional IRA or a Roth IRA? Do you know? Are you sure?

If you're not sure, the answer may surprise you.

Let me know if you're surprised!

Joshua

Direct download: RPF0303-Roth_vs_Traditional_Taxation.mp3
Category:podcast -- posted at: 10:19am MDT

Hey Radicals!

If you have emailed me (especially through the contact form on my website) and I haven't personally responded, please assume that I simply never received your message.

I'd love to hear from you, so please write again!

From July of 2015 until February of 2016 the contact form had a technical glitch that prevented emails from coming through.

That means that I missed hundreds of your communications.

I'm sorry!

We've fixed the problem now, so please try again.

I'd enjoy communicating with you personally. I work very hard to respond to all of your emails so it's disheartening to me that many of you have sent me notes to which I never responded.

Again, my apologies!

Joshua

Direct download: Announcement_re-_Email.mp3
Category:podcast -- posted at: 8:31am MDT

Today on the show we answer this question:

"Hey Joshua,

"I'm a fairly new listener and have been going through some of your older podcasts to absorb as much info as possible. I think you could potentially provide some good advice that I'd love to hear answered in an upcoming podcast if possible...

"Since discovering your podcast I've completely changed my thoughts on savings and consumption. I've always lived pretty frugally (I thought) but it turns out I was making poor decisions all along. I bought a house last year thinking that was a fool proof way to hang on to my money. I only just ran the numbers this month since I've discovered your podcasts on homeownership, and I've discovered I would have been much better off renting. I've also cut my cell phone bill in half (still $70/month though) and cut back on my weekend golf habit which I was spending about $200/month on. In place of that I've decided to train for a triathlon which is free since I already have a decent road bike. So thank you for all those tips on saving! I'm continuing to find ways to save.

"My situation that I'd like your advice on is my current job. I'm an engineer making just south of $200,000/year. I'm working at a nuclear power plant in the middle of no where in Georgia. The closest town is Augusta which is still a 50+ minute commute each way (I'm single, 30 years old, and living in a trailer in the woods near the plant wouldn't going to help that situation). I'm working 50 hours/week plus the commute and 30 minute unpaid lunch break. My entire week is consumed by work and travel to work. This is a paperwork heavy desk job which brings me zero fulfillment. I would love to quit and chase short term seasonal outage work but my dividend/investment income isn't nearly enough to live off and I can't justify turning down this kind of steady income stream. I'm miserable but well paid. I'm afraid that if I quit, my experience level isn't enough to land me the highly sought after seasonal work I'd be trying to get. I believe you were likely in a similar pay scale when you quit your job and since your situation was similar to mine is I'd like your advice as to how to get more enjoyment out of life and work.

"Love the podcast!"

Enjoy the show!

Joshua

Direct download: RPF0302-200k_and_Miserable.mp3
Category:podcast -- posted at: 6:14pm MDT

I'm up here in Nashville, TN at the moment and had the opportunity to connect with Dan Miller from 48 Days to the Work You Love.

Dan is a legend in the career advice business. He has helped many, many people transition from work that paid the bills to work that they love.

Dan has a lifetime's experience as an entrepreneur and in today's interview he shares his advice with us on:

  • Should everyone be an entrepreneur?
  • Is entrepreneurship risky?
  • How can we teach our kids to be entrepreneurs?
  • How to decide when to save and when to spend. 

Enjoy!

Joshua 

Direct download: RPF0301-Dan_Miller.mp3
Category:podcast -- posted at: 3:55pm MDT

When I began podcasting, I was looking for information and advice. Although I found some good, there was a real paucity of advice from people who had done something like I wanted to do. 

I've been satisfied with a lot of the progress that I've made with Radical Personal Finance, and I want to give back to the podcast and community. 

So, in today's show we do not discuss personal finance or money at all. Rather, this show is all about podcasting. It's simply contains the lessons I have learned about podcasting and commentary on the things that have worked and the things that have not worked.

I hope this content is useful to you. And I hope that many of you will go out and start your own podcast. 

Joshua

Direct download: RPF0300-Podcasting_Lessons.mp3
Category:podcast -- posted at: 6:28pm MDT

I've long admired Jack Spirko and his show "The Survival Podcast" as a voice of reason in an industry fueled by hyperbole and fear.

He does a great job of teaching people how to systematically build a lifestyle of resilience and freedom.

And, most important, he teaches that everything you do to build a prepared life should make your  life better if times get tough...or even if they don't.

Enjoy the interview!

Joshua

Direct download: RPF0299-Jack_Spirko_Interview.mp3
Category:podcast -- posted at: 6:00am MDT

On Fridays I do Q&A. If you'd like to participate in a show like this, please become a Patron of the show and you will gain access to the information to call in for these shows. www.radicalpersonalfinance.com/patron 

Today we cover:

  • How to Practice Stealth Wealth
  • How to Locate Assets in a Tax Efficient Manner
  • Refinancing a HELOC to an Amortizing Loan
  • How My Wife and I Handle Day-to-Day Money

Enjoy!

Joshua

Direct download: RPF0298-Friday_QA.mp3
Category:podcast -- posted at: 1:43pm MDT

 I will be in Nashville, TN next week for a conference. If you're in the area, I would love to meet up with you. Please reach out to me on Twitter and let me know that you'd like to connect. www.twitter.com/joshuasheats

Direct download: Meet_Up_With_Me_in_Nashville_TN_Next_Week_2-22_to_2-25.mp3
Category:podcast -- posted at: 1:11pm MDT

Can a hobby of writing about personal finance lead to becoming financially independent in a very short time? It did for Jim Wang, my guest on today's show.

Jim founded the site Bargaineering as a part-time hobby. It quickly became a leading voice in the world of personal finance websites. 

Ultimately, it led to Jim's becoming financially independent in a shockingly short amount of time.

In today's interview, we seek to go behind the story a bit. To learn about the personal story and lessons learned from Jim's experiences.

He has a lot to share that's very applicable to all of our lives.

Enjoy!

Joshua

Direct download: RPF0297-Jim_Wang_Interview.mp3
Category:podcast -- posted at: 1:04pm MDT

My guest today is Ann Barnhardt. I first became aware of Ann in late 2011 after she published a letter detailing the closure of her firm, Barnhardt Capital Management.

At the time, this letter troubled me. Many people make strong statements and publish strongly worded essays. But when someone follows through on their word to the point of closing a functioning firm, I pay attention.

I never could quite wrap my head around what happened at MF Global in 2011. Frankly, I still can't.

But I thought it would be awesome to invite Ann on the show to hear her first-hand experience.

She obliged.

During the course of our interview we discussed:

  • her professional background in the trading and commodities business
  • what actually happened in 2011 in the markets
  • what has happened since then
  • her predictions for future world events
  • what led her to become a tax protester

Enjoy the show!

Joshua

Direct download: RPF0296-Ann_Barnhardt_Interview.mp3
Category:podcast -- posted at: 1:02pm MDT

Over the weekend, I was reading the book "unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now" by Clark Vandeventer while sitting in a tire repair shop, waiting for my tire to be patched.

When I came to this page, I stopped. And then I had an epiphany.

When you're very, very clear on what you want, it's simple and easy to decide what to do. But when you don't know what you want, it's almost impossible to decide what to do.

So, do you know what you want?

Enjoy the show!

Joshua

Direct download: RPF0295-You_Dont_Know_What_You_Want.mp3
Category:podcast -- posted at: 1:09pm MDT

Friday Q&A show today!

  • Is an umbrella liability insurance policy a good idea?
  • Should I buy life insurance for my stay-at-home wife at my job?
  • How do I finance real estate?
  • What type of entity should I choose for real estate investment?

Enjoy!

Joshua

Direct download: RPF0294-Friday_QA.mp3
Category:podcast -- posted at: 9:58am MDT

A lot of people in our modern society are very focused on saving for a comfortable retirement. But many people simply aren't going to be able to retire and comfort.

I think it's a real mistake to focus first on retiring comfortably if we haven't first made a plan for working comfortably.

And today show I'd like to share with you a formula for building a comfortable work life. I believe this is a formula that you can use to assess your current work situation and either appreciate all of the good things about it or make a plan to correct the bad things.

Take the concepts in today show and seriously consider your present work situation. Focus on working comfortably first and then, maybe, you'll never even bother with the whole idea of retirement!

Enjoy!

Joshua

Get a $100 bonus when you open a brokerage account with Tradeking. www.tradeking.com/radical
Start your search for a financial advisor here: www.radicalpersonalfinance.com/paladin
I'm presenting at the Online Investing Conference! Preview the ideas here: www.radicalpersonalfinance.com/OIC
Support Radical Personal Finance on Patreon! www.patreon.com/radicalpersonalfinance

Direct download: RPF0293-Work_Comfortably.mp3
Category:podcast -- posted at: 9:50am MDT

I'm delighted to have David Hancock on today's show. David is the founder and CEO of Morgan James Publishing.

David has a fascinating business history and you'll benefit greatly from hearing his story.

He's also an expert at personal branding and marketing.

Most importantly, he's figured out how to make an excellent living on his own terms while doing work he loves!

Enjoy!

Joshua

Direct download: RPF0292-David_Hancock_Interview.mp3
Category:podcast -- posted at: 6:42pm MDT

I've decided to start doing regular live call-in shows as part of our Friday Q&A. Today we cover these questions:

  • How much leverage/risk is appropriate when building a real estate portfolio?
  • How much money is too much to have inside a qualified account?
  • How do you get money out of a qualified account for early retirement?
  • Is Bank on Yourself life insurance a good idea?
  • What's the right asset allocation between stocks/bonds?

Enjoy!

Joshua

Direct download: RPF0291-Friday_QA.mp3
Category:podcast -- posted at: 12:41pm MDT

Do you have some excuses as to why you can't be successful? Well, get ready to get your excuses kicked in.

My guest today is Kimanzi Constable. He started his career as a bread delivery driver and hustled his way into becoming a highly paid, internationally-recognized author, speaker, and coach.

Along the way, he lost 170 pounds, paid off $180,000 in debt, and learned a thing or two about business.

Enjoy the show!

Joshua

Direct download: RPF0290-Kimanzi_Constable_Interview.mp3
Category:podcast -- posted at: 1:34pm MDT

What makes a bigger difference on your financial outcome: the behavior of your investments or the behavior of you, the investor?

Today I have an awesome interview for you with Carl Richards, author of "The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money" and "The One-Page Financial Plan: A Simple Way to Be Smart About Your Money."

Both books are well worth your time.

In addition to being a financial advisor, Carl is the awesome dude behind the Sketch Guy column in the New York Times.

Enjoy the interview!

Joshua

Direct download: RPF0289-Carl_Richards_Interview.mp3
Category:podcast -- posted at: 6:05pm MDT

This weekend a friend of mine asked me for my input on whether they should continue renting their townhome or buy an equivalent unit. 

It's almost the perfect, real-life case study to consider:

  • practically identical units
  • current market prices
  • real numbers to analyze.

I seized the opportunity to talk it through and run the numbers.

Enjoy!

Joshua

Direct download: RPF0288-Buy_or_Rent_Case_Study.mp3
Category:podcast -- posted at: 8:37pm MDT

Low gas prices have you cheering? Good! But what about when they go back up? Do you have a plan for that?

How cool would it be if you could use a fuel other than gasoline in your car? You can! You can run it on wood.

My guests today are experts on exactly that. Chris Saenz and Wayne Keith run the website www.DriveOnWood.com

Wayne holds a number of world records of driving entirely on woodgas including fastest speed, longest distance, etc.

 

Enjoy learning how to drive for free!

Joshua

Direct download: RPF0287-Drive_on_Wood_Interview.mp3
Category:podcast -- posted at: 1:43pm MDT

I had the opportunity to attend John Schaub's "Building Wealth One House At a Time" seminar in Sarasota, FL on January 16 & 17, 2016.

I've been a fan of Schaub's work for quite a while. After reading his books and many others, I decided that his approach and plan is the approach to real estate that's right for me. So I went to the seminar.

I was extremely impressed with the seminar. It was exactly what I hoped it would be. 

In the show today I share with you:

  • the fundamentals of John's approach to real estate investing,
  • the outline of the seminar and topics covered,
  • what I loved about the seminar, and
  • a few suggestions for improvement.

Enjoy the show!

Joshua

Direct download: RPF0286-Schaub_Seminar_Review.mp3
Category:podcast -- posted at: 5:35pm MDT

When I was younger I was easily duped by the financial fraudsters that seek to build their empires by deceiving people. Thankfully, I never had any major financial losses, but I was definitely hurt when I discovered how gullible I was.

Since then, I've developed some slightly better skills for sniffing out fraud and questionable advice. And in today's show, I share some of my tips with you.

I hope that together we can continue to develop our own skills of critical thinking and spread those skills to others. We certainly need more critical thinking across our society!

Joshua

Direct download: RPF0285-Smelling_Financial_Fraud.mp3
Category:podcast -- posted at: 2:10pm MDT

Most of us in the Radical Personal Finance community are pursuing our own financial independence. And most of us want to get there as quickly as possible!

But, most of us only have one idea of one way to get there. Did you know there are a bunch of different ways to go job-free and gain financial freedom!

I'm excited to bring you my interview with Jake Desyllas, author of "Job Free: Four Ways to Quit the Rat Race and Achieve Financial Freedom on Your Terms."

If you have any interest in ever being financially free, this book is a must-read book. (And this interview is a must-listen interview!)

Jake has done an incredible job of distilling all the plans and strategies available into a simple, clear framework that you can use to design your ideal financial freedom plan.

Enjoy!

Joshua

 

Direct download: RPF0284-Job_Free_with_Jake_DeSyllas.mp3
Category:podcast -- posted at: 3:08pm MDT

I talk a lot about business, entrepreneurship, and freedom on Radical Personal Finance. But I probably give short shrift to the incredible benefits of having a job!

Our jobs usually provide the foundation we need to support our families, satisfy our responsibilities and obligations, and save the money we need to invest!

Today, I share with you 9 benefits I came up with for having a job! 

Enjoy!

Joshua

Direct download: RPF0283-9_Benefits_of_a_Job.mp3
Category:podcast -- posted at: 3:34pm MDT

Managing money by yourself can be a real challenge. But managing money with your spouse can feel so much harder!

But does it have to be that way?

Today I have Talaat and Tai from www.HisAndHerMoney.com on the show to discuss the topic with me. They have some deep experience and insight to share with us.

Enjoy the show!

Joshua

Direct download: RPF0282-Talaat_and_Tai_Interview.mp3
Category:podcast -- posted at: 2:06pm MDT

There are three things we control with regard to wealth building: how much we make, how much we spend, and the rate of return we earn on our investments.

Those are the only three things you can change and affect. And they're the three things that will make the difference in how wealthy you become.

My personal investment strategy has changed and developed over the years. But, going forward, I've decided to invest in real estate.

In today's show I share with you some of the back story and some of the reasons I've made this decision.

Remember, my goals and skills are different from yours; learn from me, but don't copy me.

Enjoy the show!

Joshua

Direct download: RPF0281-Why_Ive_Chosen_to_Invest_in_Real_Estate.mp3
Category:podcast -- posted at: 2:52pm MDT

Tonight I'm pleased to bring you an interview with Fritz Gilbert from the website: www.TheRetirementManifesto.com

Fritz is an awesome guy who is just a couple of years away from an early retirement! He's here today to share with us his wisdom and perspective on making a successful transition to retirement.

Enjoy the show!

Joshua

Direct download: RPF0280-Fritz_Gilbert_Interview.mp3
Category:podcast -- posted at: 8:35pm MDT

Many people dream of saving enough money to travel the world. But what if there were a way to get paid to travel the world?

There is. It's not a pipe dream. 

In fact, there's not just one way. There are many, many ways!

In today's show we speak with Sara Miner. Sara is a longtime listener and supporter of the show and she and her husband get paid handsomely to do work they care about in adventurous locations around the world.

I invited her on to the show to share her story and advice.

Enjoy the show!

Joshua

Direct download: RPF0279-Sara_Miner_Interview.mp3
Category:podcast -- posted at: 11:39am MDT

Today, we cover this question from a listener:

Joshua,

I know you get a lot of questions, but I was wondering if you have a radical way to get out of an upside down car loan.

I do financial coaching for people in our church who have requested benevolence, and most of them have large car payments - e.g. Someone owes $25,000 on a car worth $15,000. I cannot find a solution that is good (and maybe there is none).

Dave Ramsey says borrow the difference so you have a smaller loan, but by the time someone is requesting benevolence, they cannot qualify for borrowing any more.

Other ideas of rolling it into another car loan with incentives aren't great either. It is really the $3,000 in negative equity and more that I am looking to solve for.

Any radical ideas?

Travis

Direct download: RPF0278-Upside_Down_Car_Loan.mp3
Category:podcast -- posted at: 2:25pm MDT

Today we continue with our "Early Retirement FAQ" series with Arebelspy by tackling the topic of inflation! How do you manage inflation risk in retirement? And, even more important, how do you manage inflation risk in very early retirement?

This topic is especially important to Arebelspy because he and his wife just retired at the age of 30 and are now traveling the world together! (Even cooler, they did it while earning schoolteacher salaries!!!)

Enjoy!

Joshua

Direct download: RPF0277-Early_Retirement_FAQs-Inflation.mp3
Category:podcast -- posted at: 2:15pm MDT

Recently I received this personal note from a personal friend of mine: "My wife suggested I reach out to you for advice as we plan to start saving for our soon-to-be-born-son's education.  Hard to believe it's going to be just a few weeks now.  I've looked into our state's 529 plan, but wasn't sure if there were better options.  Any advice would be greatly appreciated." 

My advice in response was simple: don't set up a college plan for your young child. It's a bad idea and a poor use of money in light of all the other things you can do with money that are better.

Interested?

Listen.

:)

Joshua

Direct download: RPF0276-No_College_Plans_for_Me.mp3
Category:podcast -- posted at: 11:26am MDT

I'm excited to launch a brand-new sponsor here in the new year! Our new sponsor is TradeKing.

You should be familiar with the TradeKing name--I previously interviewed the CEO, Don Montanaro, on Episode 240 of the show.

I sat down with Don in his Ft. Lauderdale office and we talked about the brokerage business and business model.

We discussed: 

  • TradeKing's history
  • The competitive landscape of the brokerage business
  • The value proposition for brokers

If you'd like to open a trading account with TradeKing, they will give you an extra $100 if you sign up through my tracking link: http://tradeking.com/radical

Enjoy the show!

Joshua

  • Get a $100 bonus to your account when you use my special tracking link! http://tradeking.com/radical
Direct download: RPF0275-TradeKing_Launch.mp3
Category:podcast -- posted at: 3:07pm MDT

One of my major breakthrough moments in life occurred when I learned that success skills were simply that: skills. The same applies to wealth.

Success and wealth are not accidents. People are not wealthy by chance, happenstance, or accident. People become wealthy because:

1. They unconsciously learned the knowledge and applied the skills of wealth; or,
2. They self-consciously learned the knowledge and applied the skills of wealth.

For me, that concept was incredibly helpful.

As we begin a new year, I encourage you to focus on the skills that you need to identify, learn, and perfect during 2016 that will ultimately lead to wealth.

Enjoy the show!

Joshua

Direct download: RPF0274-Skills_of_Wealth.mp3
Category:podcast -- posted at: 2:58pm MDT

Hey Radicals,

I'm in the process of shutting the show down for 2015 and heading off for the holidays.

Before I go, I simply want to share a personal greeting with you and a few quick, encouraging thoughts. Listen to the episode!

Merry Christmas to you and yours. May you and your family be richly blessed this holiday season and may 2016 be your best year ever!

Love,

Joshua

Direct download: rpf-end-of-year-1.mp3
Category:podcast -- posted at: 11:24am MDT

The skill of budgeting is one of the major skills that drives the level of success you achieve in life. But it's a skill that's not only applicable to money but also to other areas of life.

In today's show I share with you my ideas on budgeting:

  • How budgeting is applicable to many areas of life, not only money.
  • The three major stages of budgeting.
  • Big ideas on concepts that are applicable to all kinds of budgeting.
  • Three types of budgeting tools.

Enjoy the show!

Joshua

Direct download: RPF0273-Budgeting_Time_Money_and_Food.mp3
Category:podcast -- posted at: 2:09pm MDT

I was honored with a very cool mention in a New York Times article yesterday (link below) and I thought it a perfect time to build on the subject of how to increase your income!

In today's show, I share with you my complete framework for increasing your income. The show is heavy on strategy--you'll have to fill in the specific tactics appropriate for your situation.

We cover:

  • The only 3 ways to increase your income.
  • Which to focus on in the short-term and which to focus on for the long-term.
  • Specific strategies for each of the 3 ways.

Enjoy the show!

Joshua

Links:

 

Direct download: RPF0272-How_to_Increase_Your_Income.mp3
Category:podcast -- posted at: 10:55am MDT

I enjoy YouTube. But it's tough to find a good personal finance YouTube channel! Thankfully, there's at least one!

My guests today are Mike and Lauren. They are awesome personal finance and early retirement YouTube personalities.

We were able to connect for an interview at #FinCon15 so that I could bring you their story.

Why should you listen?

Well, perhaps you'd like to know how they're on track to retire by the age of 30 even though they never made a ton of money or sold a business.

It's all here!

Enjoy the show!

Joshua

Direct download: RPF0271-Mike_and_Lauren_Interview.mp3
Category:podcast -- posted at: 4:21am MDT

Following up on yesterday's show, I share with you today 9 myths surrounding the topic of home ownership.

These are things that I used to believe and I learned (through the process of owning my own home) that I was wrong.

Learn from my mistakes and consider how many of the things we commonly believe about home ownership might not be quite so true as we wish!

Enjoy!

Joshua

Direct download: RPF0270-Myths_and_Facts_of_Home_Ownership.mp3
Category:podcast -- posted at: 12:47pm MDT

This past Friday we closed on the sale of our house. We owned it for just under three years. When we bought it we had intended to own it for 40 years.

Why did we sell?

The full story is here in this episode of the show!

Check it out and learn from our successes and our failures!

Joshua

Direct download: RPF0269-Why_We_Sold_Our_House.mp3
Category:podcast -- posted at: 8:23pm MDT

Many of us have made mistakes on our way to financial stability. Hopefully we've learned from those mistakes--but wouldn't it be fantastic if we could help the next generation to avoid some of those mistakes?

My guest today is Rocky Lalvani. He's a long-time listener of the show, contributor, and Patron. We connected in-person at #FinCon15 and sat down for this interview!

Rocky has an awesome immigrant rags-to-riches story that you'll enjoy. He also has a depth of experience in training his children to be financially strong.

Enjoy!

Joshua

Direct download: RPF0268-Rocky_Lalvani_Interview.mp3
Category:podcast -- posted at: 2:59pm MDT

While I was in Charlotte for #FinCon15, I connected briefly with a man named Peter Polson who told me about a new tool he had built to automate the creation of financial spreadsheets.

After I got home I signed up for his service and started testing it. I like it! And I think some of you will find it very useful.

The Tiller service is a way to automate the import of financial data to your spreadsheets. This eliminates the most time-consuming part of creating spreadsheets and opens up a world of possibilities!

Listen to the interview! And, if you'd like, try the service free for two months by using my link: www.tillerhq.com/radical

Enjoy!

Joshua

 

Direct download: RPF0267-Peter_Polson_Interview.mp3
Category:podcast -- posted at: 11:06am MDT

Does being frugal and building financial independence mean that you can't have any fun? And, is it possible to get through college on a budget and still have fun?

Today we have a fun discussion with Martin Dasko from the personal finance blog Studenomics.

Martin has an awesome approach to teaching young men and women how to build financial independence without missing a party!

Enjoy!

Joshua

Direct download: RPF0266-Martin_Dasko_Interview.mp3
Category:podcast -- posted at: 4:00am MDT

It's easy to jump into holiday mode, but don't jump just yet! Let's keep our work boots on and learn just a little bit about investing today before we get into the Thanksgiving holiday.

My guest today is Rick Ferri, founder of a company called Portfolio Solutions. Rick is a really great guy and a real expert at investing and portfolio construction.

You'll hear his detailed background in the show and I think you'll come away from today's episode with a deeper sense of respect for what he's doing.

Those of you who are commited indexers will love today's show. And those of you who aren't will have some work to do to defend your viewpoints after today's show.

Enjoy!

Joshua

Direct download: RPF0265-Rick_Ferri_Interview.mp3
Category:podcast -- posted at: 12:32pm MDT

Today on Radical Personal Finance I'm pleased to introduce you to a brand-new sponsor! And, it's a sponsor who will help you save some cash!

I've been aware of SoFi for quite awhile and they were high on my list of brainstormed potential sponsors for the show. I was finally able to connect with them at #FinCon15 in Charlotte this year and to hammer out the terms of a sponsorship agreement.

SoFi is a very cool new company that is bringing real innovation to the lending space. They got their start by helping people refinance student loans but now they're aggressively expanding to other areas as well.

My guest today is one of the co-founders, Dan Macklin. Sit back and enjoy the story of entrepreneurship and industry-changing innovation!

Joshua

Direct download: RPF0264-Dan_Macklin_Interview.mp3
Category:podcast -- posted at: 8:12pm MDT

During October and November I've been doing a weekly conference call with Patrons of the show. 

We've been talking about all kinds of interesting subjects!

On today's call we chatted about:

  • disability insurance (including disability overhead expense insurance and cash indemnity long-term care policies)
  • investment planning
  • the politics of money
  • and more!

Enjoy!

Joshua

Direct download: RPF0263-Patron_QA.mp3
Category:podcast -- posted at: 9:37pm MDT

We talk a lot about diversification within the context of investments. But what about diversification of your income?

After all, how risky is it for you to depend on a single source of income to fund your life and lifestyle?

The paradox is this: the more specialized you become in your career, the more you can earn. But the more specialized you are, the riskier your income is!

The challenge is for us to figure out how to reconcile these two things.

Today, I share my thoughts on the subject with you.

Enjoy!

Joshua

Direct download: RPF0262-Diversification_of_Income.mp3
Category:podcast -- posted at: 2:43pm MDT

BiggerPockets.com is the largest real estate resource online--perhaps in the world. Today we have Josh Dorkin, the founder of Bigger Pockets, on the show to share the story with us.

The story is a classic case of an entrepreneurial endeavor gone well. 

Sit back, pay attention, and learn the lessons and themes of how one person went from struggling real estate investor to become king of a real estate empire.

Enjoy!

Joshua

Direct download: RPF0261-Josh_Dorkin_Interview.mp3
Category:podcast -- posted at: 9:00am MDT

The word "trust" has a bit of a mystique in the modern financial world. It's a word that everyone knows (we all know a "trust fund kid") but few people understand and even fewer understand accurately.

Trusts are both simple and complex. They're simple in concept but can be quite complex in application.

Today I share with you some basic background on trusts and trust planning. 

I also share with you some thoughts regarding the use of a revocable living trust within the context of your personal estate planning.

Enjoy the show!

Joshua

 

Direct download: RPF0260-Intro_to_Trusts.mp3
Category:podcast -- posted at: 12:58pm MDT

Wouldn't it be cool if you could work really hard for a few years, save aggressively, and then quit your job and travel the world?

Today's guest has done just that. Today I have Brandon, the Mad Fientist, and his wife Jill on the show!

Brandon recently hit his Financial Independence number and he and Jill hit the road for some long-term travel.

Enjoy this interview where we dig into what's great about financial independence and what ain't so great.

Enjoy!

Joshua

Direct download: RPF0259-Brandon_and_Jill_Interview.mp3
Category:podcast -- posted at: 4:39pm MDT

I'm thrilled to bring Jay Fleischman back on the show. Jay was a guest on Episode 214 of the show and it was a popular show and I received a lot of great feedback.

Most importantly, I learned a ton from the interview!

Today, Jay and I tackle the actual process of analysis. If you have student loans, Jay gives you the step-by-step action plan for what you need to do in order to analyze your options.

We're also launching Jay as the newest sponsor of Radical Personal Finance. He's a perfect fit for a sponsor and I think he'll be able to serve you in some really wonderful ways.

Listen to the show. Then:

  1. Subscribe to the Student Loan Show in iTunes: http://rpf.link/SLSiniTunes
  2. If you have student loans, sign up for a consultation with Jay using the special discount code here: http://www.studentloanshow.com/radical/

Enjoy the show!

Joshua

Direct download: RPF0258-Jay_Fleischman_Interview.mp3
Category:podcast -- posted at: 3:57pm MDT

Ever wondered about the basics of estate planning? Today's show is a simple overview of the major estate planning documents.

We talk about wills, living wills, and powers of attorney and discuss what they mean and why they're important.

This is not a technical deep-dive; this is a light and friendly overview.

Enjoy the show!

Joshua

 

Direct download: RPF0257-4_Basic_Estate_Documents.mp3
Category:podcast -- posted at: 8:16am MDT