Radical Personal Finance: Financial Independence, Early Retirement, Investing, Insurance, Financial Planning

By Joshua Sheats @ RadicalPersonalFinance, Certified Financial Planner / Advisor, Early Retirement / Wealth Creation Coach

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Rate for this podcast


Robert
 Jul 31, 2018
Love this show and the honesty and transparency of Joshua. I've learned so much and been challenged to think deeper about topics. Great in depth discussions about difficult and diverse topics.

Ed Frizzell
 Jul 22, 2018
Very informative from a different angle than the average podcast. I very much enjoy.

Nataliya
 Jul 21, 2018
Really enjoy this podcast and the deep dive into the rich variety of subjects from financial to philosophical, giving listeners a new perspective. Thank you for the hard work and the excellent content!

Description

Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core business strategy to equip you with the knowledge and inspiration you need to build financial independence.

Episode Date
575-How & Why I Scanned My Entire Library So I Can Carry It With Me On The Road
34:16

In today's show, I share how and why I scanned my entire library in preparation for my current travels.

Enjoy!

Joshua

Aug 06, 2018
574-Trading Your Way Through a Vacation
14:56

Enjoy the story of this family's quite radical approach to a family "vacation."

Joshua

Aug 03, 2018
573-Can You Afford to Work Nine to Five?
14:54

Not much has changed in 35 years...we still have to do the same calculation.

Joshua

Aug 03, 2018
572-Full-Time RV Living: A Mid-Action Review
51:03

We've been living full-time in our 30-foot travel trailer for an entire month now.

In today's show, I share with you what's been working, what's good, and what's not.

Joshua

  • Sponsor: Warby Parker. Go to http://warbyparker.com/rpf to order your free Home Try-On glasses today.
Aug 02, 2018
571-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 5 of 5)
12:23

Part 5 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we discuss your lifestyle.

Joshua

Jul 31, 2018
570-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 4 of 5)
12:36

Part 4 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we discuss avoiding catastrophe.

Joshua

Jul 30, 2018
569-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 3 of 5)
10:07

Part 3 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we discuss your investments.

Joshua

Jul 27, 2018
568-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 2 of 5)
13:20

Part 2 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we cover your expenses.

Joshua

Jul 26, 2018
567-Accidental Retirees (pt 2 of 2): Small Businesses that Allow Full-Time Travel and Internet Connectivity on the Road
43:00

In Part 1 of this interview (Episode 566), you met Scott & Susan, a couple who accidentally retired in their 30s and has spent the last two decades traveling the world in a sailboat and the US in a motorhome.

In today's episode, we discuss Scott's small business, Techie 4 Hire. If you have any interest in developing a location-independent business, pay attention to Scott's story of his own business. Also pay attention to some of the other types of businesses mentioned in this interview.

Finally, we discuss a bit of the technology of mobile internet connectivity. For many of us, our ability to reliably connect to the internet from the road can open up a location-independent lifestyle.

Enjoy!

Joshua

Jul 25, 2018
566-This Couple Accidentally Retired Early, Sailed Around the World for 10 Years, and RVed Around the USA for 10 More Years - Interview with Scott & Susan, Techie4Hire (pt 1 of 2)
48:51

On today's show, I bring you an interview with Scott and Susan. I think of them as "accidental early retirees."

About two decades ago they bought a sailboat, intending to travel for a year. They wound up spending a decade sailing the world together. And then for the last decade, they've traveled all around the USA, living full-time in their RV.

In Part 1 of this interview we discuss their story--the plan, the money, and the lifestyle.

In Part 2 of this interview we will discuss Scott's small business and the technology that they use that keeps them on the road full-time.

Enjoy!

Joshua

Jul 24, 2018
565-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 1 of 5)
13:27

Part 1 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we cover your income.

Joshua

 

Jul 23, 2018
564-Friday Q&A: Rental House vs. Personal House, What Type of Retirement Plan for a Small Business, Stocks vs. Real Estate, How to Get Money That's Owed to You
55:37

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

  • Rental House vs. Personal House
  • What Type of Retirement Plan for a Small Business
  • Stocks vs. Real Estate
  • How to Get Money That's Owed to You

Join me next week for the Q&A! Go here: www.radicalpersonalfinance.com/patron

Joshua

Jul 20, 2018
563-Why Are Successful, High-Earning Professionals Moving Into a Van Down By the River? Interview with Chris and Cristi Moody from Life Opted Out
01:01:53

There are many, many successful, educated, high-earning people who are making unusual life decisions. My guests on today's show are following that pattern in their own life and they're also investigating many, many others who are pursuing unusual courses of action.

Today we speak with Chris and Cristi Moody, successful professionals who moved out of their penthouse Manhattan apartment and into a 72-square-foot cargo van.

Enjoy!

Joshua

Jul 19, 2018
562-Radical Housing Ideas (5 of 5): Change What "Housing" Looks Like For You
20:14

Part 5 of our 5-part series on radical housing ideas.

Joshua

Jul 18, 2018
561-Radical Housing Ideas (4 of 5): Get Your Employer to Pay For Your Housing Costs
08:31

Part 4 of our 5-part series on radical housing ideas.

Joshua

Jul 17, 2018
560-Radical Housing Ideas (3 of 5): Pay Attention to House-Hacking...It's Effective and Doable
13:02

Part 3 of our 5-part series on radical housing ideas.

Joshua

Jul 16, 2018
559-Radical Housing Ideas (2 of 5): Tax-Free Wealth By Fixing Up Your Own Home
13:06

Part 2 of our 5-part series on radical housing.

Joshua

Jul 13, 2018
559-Radical Housing Ideas (1 of 5): Learn the Skills and Build Your Own House
17:12

Today, we begin part 1 of a 5-part series on housing ideas.

Enjoy!

Joshua

 

Jul 12, 2018
558-Friday Q&A: a Financial Independence Checkup, Investing in Private Businesses, How to Do Productive Work While Traveling
01:06:51

It's Friday! That means live Q&A! Today we cover:

  • A Financial Independence Checkup
  • Investing in Private Businesses
  • How to Do Productive Work While Traveling

If you'd like to join us on next week's Q&A, join here: www.radicalpersonalfinance.com/patron

Joshua

Jul 06, 2018
Celebrate Independence Day by Refusing to Lie: "Live Not By Lies" by Alexander Solzhenitsyn
13:39

Today is July 4, Independence Day, in the United States.

Let's celebrate by actually behaving independently and rejecting the practice of lying.

Enjoy this essay by Alexander Solzhenitsyn, entitled "Live Not By Lies."

Joshua

Jul 04, 2018
557-You Have the Right to be Financially Independent. Act Like It!
33:28

You already have an unalienable right to liberty. Now act like it and stop selling yourself back into slavery. Please!

Joshua

Jul 02, 2018
556-Friday Q&A: Careers in Financial Advice, Should I Convert My IRA to a Roth, What Should I Save Money For?
01:23:45

It's Friday! And Q&A is back! (From the road, no less.)

Today, we discuss:

  • Careers in Financial Advice
  • Should I Convert My IRA to a Roth
  • What Should I Save Money For?

Enjoy!

Joshua

Jun 29, 2018
555-Good, Cheap, and Fast! (A Travel Story)
35:42

I'm very happy to be podcasting to you today from the road! We have officially hit the road and are on our trip.

The last two weeks have been a tiring blur. Our tow vehicle was stolen 5 days before we were scheduled to leave on our full-time RV trip!

In today's show, I share a bit of the story with you as well as my own philosophy on how to negotiate the Good/Cheap/Fast triangle.

Enjoy!

Joshua

Jun 26, 2018
554-How to Maintain Financial Peace in the Midst of Turmoil
39:22

My life has been quite unique and frothy in the last week or so. Here are some tools I use to maintain financial peace in the midst of the turmoil.

Joshua

Jun 12, 2018
553-Consider the ROI You're Getting On Your Children's Education
01:13:03

I encourage you to carefully consider the ROI you're getting on the money and time you and your children are investing into their education. Is it paying off? Are you getting a good deal?

Joshua

p.s., I recorded this in April. It's an episode that I spiked and chose not to release (this isn't uncommon). But I changed my mind and decided to let you decide if you're interested or not. :)

Jun 07, 2018
552-How to Achieve Your Adventure Faster Than You Ever Thought Possible
38:08

You probably have an adventure goal locked up inside of you. Most people do. And you probably have put it off because you see no way to accomplish it.

Today, let me give you some ideas about how you can accomplish it faster than you ever thought possible.

Joshua

Jun 04, 2018
551-Friday Q&A: Am I Financially Independent, Should I Switch Life Insurance Agents, Should I Engage in Tax-Gain Harvesting
42:55

It's Friday! That means Q&A. Today, we cover:

  • Am I Financially Independent?
  • Should I Switch Life Insurance Agents?
  • Should I Sell Investments and Trigger a Taxable Gain?

Joshua

Jun 01, 2018
550-How Much Does It Cost You To Live Today?
17:19

Calculate your daily cost of living. Then analyze it.

Joshua

May 31, 2018
549-It's Always Cheaper to Feed the Meter than to Pay the Ticket
13:39

In life, you'll always find that it's cheaper to feed the meter than to pay the ticket. Be proactive.

Joshua

May 29, 2018
548-Christian Economics: An Interview with Dr. Gary North
02:51:11

Dr. Gary North has dedicated 10 hours per week for the last 40+ years to the task of investigating what the Bible has to say about economics.

In the process, he has written a verse-by-verse commentary of the entirety of the Old Testament and the New Testament (totaling 8,550 pages).

He is now in the process of publishing his capstone works titled: Christian Economics. He has published the Student's Edition and Teacher's Edition (free at link below) and is working on the Scholar's Edition and Activist's Edition.

Enjoy the interview,

Joshua

May 18, 2018
547-How to Increase Your Income When You've Lost Your Health
50:11

I have a listener who wrote to me and asked me how they can increase their income when it's been decimated by a cancer diagnosis.

I do my best to help.

Joshua

May 15, 2018
546-Q&A: How to Increase Profit from a Consulting Business, How to Build an Advice Business, How to Maximize Revenue from a Construction Company, How to Transition Careers
01:10:54

Today we do live Q&A on career-related questions. Listen to the show and, if you think I give decent advice, sign up for my new Career & Income course here: http://www.radicalpersonalfinance.com/increaseincome Buy now if you want the best deal! (Price goes up by $100 on Wednesday, May 16!)

Joshua

May 14, 2018
545-How to Protect the Experience of Your Rich Life with Good Digital Fences
52:50

Today, a few quick announcements and a discussion of how I went from confident and focused to frazzled and weak in about 3 hours...because I logged on to Facebook.

Announcements:

  • If you're a Patron and are missing your coupon code to sign up for the #IncreaseIncome course, email me.
  • I'm hosting a live Q&A call for you (as long as you have a question related to your career and income) on Monday, May 14 at 3pm Eastern. Call in number is 561-440-7362.
  • Email me if you have questions about the course! Or, email me and let me know what you'd like to talk with me about if you were to have lunch with me.
  • Please sign up for my new course! www.radicalpersonalfinance.com/increaseincome

Two good articles on Facebook:

May 11, 2018
544-How Much Money Do You Need to Earn To Live the Good Life?
40:28

On today's show, I talk to you about your income goals. Specifically, I lay out some sample budgets given various incomes and discuss with you the specific amount of income I believe you should target.

Enjoy!

Joshua

May 10, 2018
543-How to Save More Money Without Hurting Your Lifestyle
38:12

Many people think that saving more money is going to mean they have to live like a pauper. But it doesn't have to be like that. There is another way...a way to save more money and live a fancier lifestyle at the same time!

Joshua

May 09, 2018
542-Should You Choose Work You Love or Work That Makes the Most Money?
18:54

I'm back!

More soon,

Joshua

May 07, 2018
541-How to Protect Your Family From Your Death When You Can't Qualify For Life Insurance
01:19:28

I recently worked with a consulting client who had this problem: because of a previous (serious) cancer diagnosis, he is unable to qualify for life insurance. How can he protect his family in case he dies soon?

I thought it a really interesting challenge. And since I've thought a lot about this particular problem, I thought I'd go ahead and share my thoughts with you.

Enjoy!

Joshua

Apr 19, 2018
The Law by Frédéric Bastiat (i.e., my 2018 Tax Day celebration)
02:06:07

Today on Radical Personal Finance, we celebrate Tax Day in the United States (April 17, 2018).

As we all reflect on the actions of the government we US Americans have just supported with our tax money, I thought it would be a good day to read to you a very helpful essay called, The Law.

The Law was written in 1850 by Frédéric Bastiat, a French economist.
If you haven't previously read this essay, be fo

rewarned that the first third is fast-moving and the last third is fast-moving, but the middle drags a little.Hear it through, though. You'll be glad you did.

Joshua

Apr 17, 2018
540-Is US Government Bankruptcy a Sure Thing? A Friendly Debate with David Stein, Host of Money for the Rest of Us
53:22

On Episode 466 of Radical Personal Finance, I discussed the idea of the US Government's certain default on its stated obligations and commitments by referencing Professor Lawrence Kotlikoff's Congressional testimony on this subject.

After that show, my friend David Stein (host of Money for the Rest of Us) emailed me to tell me that I was wrong. :)

So, I invited him on the show to debate it with me.

Enjoy!

Joshua

Apr 12, 2018
539-Friday Q&A: Should I Use an HSA Account to Pay for Medical Expenses, What Tools Will Help Me Find a New Career, Should I Participate in My Company's Non-Qualified Deferred Compensation Program?
50:27

It's Friday! Today we discuss:

  • Should I use an HSA account to pay for my medical expenses?
  • What tools can I use to figure out a new career after unexpectedly coming back from foreign missions?
  • Should I participate in my companies Non-Qualified Deferred Compensation program?

Enjoy the show!

Joshua

Apr 06, 2018
Money vs. Meaning-"The Drum Major Instinct" by Dr. Martin Luther King, Jr.
29:37

In honor of the 50th anniversary of Dr. Martin Luther King's death on April 4, 1968, I thought you might enjoy hearing some of the audio from his last public sermon. This talk is entitled "The Drum Major Instinct."

This sermon was preached in the pulpit of Ebenezer Baptist Church, about two months before King's death.

The sermon was an adaptation of the 1952 homily ‘‘Drum-Major Instincts’’ by J. Wallace Hamilton, a well-known, liberal, white Methodist preacher.

NOTE: I have clipped off King's introduction and started the audio of this recording at the point where he begins speaking about personal finances.

To hear the full audio or to read a transcript of the entire speech, use this link: http://kingencyclopedia.stanford.edu/encyclopedia/multimediaentry/doc_the_drum_major_instinct/index.html

Enjoy,

Joshua

p.s., there are a few clipped pieces of audio...these are a fault of the original recording. You can read the missing text in the transcript.

Apr 04, 2018
538-Making Sense of the New Car/Used Car Dilemma
39:58

Today, a prelude to a discussion of how to lease a car. In this show we discuss a rational analysis of new car vs. used cars.

Enjoy,

Joshua

Apr 03, 2018
537-Friday Q&A: Transitioning from PC to Mac, Enhancing a Personal Website By Helping Others, Financial Advice for an 18-Year-Old Rockstar, Major Financial Influences on Joshua
01:30:30

It's Friday and it's time for a live Q&A show! If you'd like to call in next week, please sign up here: www.radicalpersonalfinance.com/patron

Today, we discuss:

  • Transitioning from PC to Mac
  • Enhancing a Personal Website By Helping Others
  • Financial Advice for an 18-Year-Old Rockstar
  • Major Financial Influences on Joshua

Enjoy!

Joshua

p.s., remember...I'd love to talk to you next week! www.radicalpersonalfinance.com/joshua

Mar 30, 2018
536-The Way to Wealth by Benjamin Franklin
28:56

On today's show we go back 250 years to see what lessons for wealth we can learn from Benjamin Franklin. This show is an audio recording of Franklin's essay, "The Way to Wealth."

Enjoy!

Joshua

Mar 26, 2018
535-Responding to Listener Comments on An Error in Real Estate Basis Calculations, Radical Financial Plans vs Traditional Plans, What Happened to SudoPay, and More!
01:03:23

It's Friday! Today I'm interacting with your comments on recent episodes of the show.

We discuss:

  • Correcting an error on real estate basis
  • Radical financial plans vs traditional plans
  • What happened to SudoPay
  • And more!

Joshua

Mar 23, 2018
534-Friendly Advice To Help You Buy Your First AR15 Rifle
58:56

This show rounds out some friendly advice to help any interested listener who wants to put together a well-equipped home armory to do so in a thoughtful and financially prudent way.

Today, we tackle the AR15 rifle. The AR15 is a wonderful rifle. It's not the best at any one thing, but it is truly good at many things.

I'd love for you to have one if you don't already.

So I thought you might appreciate some advice on how to get a good deal on one.

Enjoy!

Joshua

p.s., In the show I referenced a statistic of police officers in a northeastern state not turning in their rifles after a ban. That particular story I referenced was actually a satire site that I stumbled over without realizing it. I got duped. I have no doubt that the thrust of the story is accurate, but the specifics I cited were flat wrong and untrustworthy. Sorry.

p.p.s., My guest in today's show referenced the AR15 as stemming from a military firearm first. The AR15 was developed for the civilian marketplace first, then the military bought the plans for it and started producing it for their soldiers.

Mar 21, 2018
533-Friday Q&A: AirBnB Business Deductions, Deductibility of Losses on a Personal Rental, How to Get Great Podcast Guests
39:50

It's Friday! Today we cover:

  • AirBnB Business Deductions
  • Deductibility of Losses on a Personal Rental
  • How to Get Great Podcast Guests

If you'd like to join next week's Q&A call, do so here: www.radicalpersonalfinance.com/patron

Joshua

Mar 16, 2018
532-Spending Money to Save Money
22:38

Today, some ideas on how to save money by spending a little more than strictly necessary to insulate yourself from unnecessary temptation.

Joshua

Mar 14, 2018
531-Friday Q&A: How to Establish a Will & Trust While Living Internationally, How to Title Life Insurance Policies for Spousal Protection
59:15

It's Friday! That means Q&A! Today, we cover:

  • How to establish a will and trust when you plan to be living internationally for an extended period of time.
  • How to plan ahead to pay for kids' college when you anticipate that the college may lose its accreditation.
  • How to properly title your life insurance policies in order to protect a vulnerable spouse.
Mar 09, 2018
530-How to Build a Useful Home Armory That Won't Lose Monetary Value and May Save Your Life
01:29:26

Guns are great investments.

Well, perhaps I should say that it's possible for guns to be great investments...and at the worst, they are a decent store of value.

If you've never owned a firearm, I'd like to share with you a thoughtful, reasonable path into gun ownership that will help you to make good decisions and get the most bang for your buck.

In today's show I lay out for you a sensible approach to gun acquisition that will help you to construct a useful home armory that will allow you to have the tools of defense and offense that will cover most situations you could conceivably ever face without making bad financial decisions.

Enjoy!

Joshua

Mar 06, 2018
529-Friday Q&A: How to Protect From Disability Without Disability Insurance, How to Cover Unknown Future Risk, How Should I Finance a Land Purchase, Will My Credit Score Be Messed Up By Mortgage Shopping, How to Adjust Content for Different Audiences
01:23:03

Friday Q&A today! We cover:

  • How can I protect myself from the risk of disability without getting disability insurance?
  • How can I make sure that future, unknown risks are adequately covered today?
  • What financing option should I use to buy a piece of land?
  • Will my credit score be messed up by shopping for a mortgage?
  • How can I adjust content for different audiences?

I'd love to have you call in next week! Details here: www.RadicalPersonalFinance.com/patron

Joshua

Mar 02, 2018
A Nation of Cowards by Jeffrey Snyder (audio version)
36:52

This is the audio recording of an essay published in the Fall of 1993 in The Public Interest magazine.

The essay is titled: "A Nation of Cowards" by Jeffrey Snyder.

You can access a text version of this essay here: http://rkba.org/comment/cowards.html

I'm publishing this essay for you as a thought-provoking defense of the morality of your being well-armed.

In today's political climate where critics are drawing a moral equivalence between mass murderers and an average armed citizen, I think this moral defense is warranted.

The facts and names of the essay are dated. The arguments are not.

As you consider this essay with 25 years of hindsight, do some research into how well the arguments have weathered the test of time.

Joshua

Mar 01, 2018
528-Tools and Tactics for Self-Defense in a Non-Permissive Environment (like a school)
01:30:45

The tagline of RPF is "...living a rich life now..." But it's hard to LIVE a rich life if you're dead.

So I'd like to help you--and others--have a higher potential of staying alive.

I have looked and looked for practical responses to the recent school shooting and have found very few.

This is my best effort to help you with some practical solutions to the problem.

I did my best in today's show to keep it free of politics and free of guns. (To be fair, I think it's best to say it's politics-lite and gun-lite.)

Give it a listen. Even if you are frustrated by the current gun debate, I think you'll find some useful, practical ideas to help you defend your own life and the lives of others--even in a non-permissive environment.

Joshua

Feb 27, 2018
527-How to Buy a Used Car
01:02:39

As a--ahem--more practical follow-up to yesterday, here is my advice for a listener on how to buy a used car.

Joshua

Feb 22, 2018
526-You Bought a Pickup Truck? You Idiot!
26:39

Flipping through my feed and I cannot believe what you just did. You idiot!

Joshua

Feb 21, 2018
525-Living on Lentils and Serving the King
04:21

“The philosopher Diogenes was eating bread and lentils for supper. He was seen by the philosopher Aristippus, who lived comfortably by flattering the king. Said Aristippus, ‘If you would learn to be
subservient to the king, you would not have to live on lentils.’

Said Diogenes, ‘Learn to live on lentils, and you will not have to be subservient to the king.’ ” – from “The Song of the Bird” by Anthony de Mello

Feb 20, 2018
524-Why You Shouldn't Use Your 401(k) Money To Pay off Credit Card Debt When You're Unemployed
32:24

Today we answer this question: "I have accumulated $6,000 in credit card debt from a period of unemployment; should I use some of the $10,000 I have in my 401(k) to pay it off?"

Enjoy,

Joshua

Feb 19, 2018
523-Last Week's Fiscal Catastrophe and Your Response
01:19:09

If you want happy-go-lucky, unicorns-and-balloons-in-the-sky Joshua, skip today's show.

If you want angry Joshua to opine on his disgust with the US American politicians' lack of fiscal restraint and the long-term catastrophe that is the US American budget, then you'll enjoy today's show.

Enjoy.

Joshua

Feb 14, 2018
522-Feeling Poor This Valentine's Day? Money Can Buy You More Love...if You Handle It Right
01:23:59

Love isn't primarily a feeling. Love is an action. Love does.

You can show love with money in many ways, but a massively powerful way is by giving.

Here are some ideas and thoughts to encourage you to build more love in your life by giving more.

Joshua

Feb 09, 2018
521-How We Chose Our RV for Full-Time Living On The Cheap For a Family of Five
01:00:57

I thought you might be interested in some behind-the-scenes discussion of how we recently bought our rig for an intended full-timing RV trip around the USA this summer.

We did some things well and made some big mistakes. I hope you learn from both!

Joshua

Feb 08, 2018
520-Coming to See you in 2018!
58:44

Mrs. RPF and I are excited to announce some of our plans for a nation-wide tour during 2018.

Details in the show!

Joshua

Feb 07, 2018
519-How to Get More Free Stuff!
19:52

In today's show I'm going to teach you one simple technique that will help you get more stuff for free.

Try it and see!

Joshua

Jan 31, 2018
518-Tools, Tips, and Techniques for Cooking on the Road (So You Can Actually Afford to Travel with Children!)
01:15:32

Feeding yourself (and especially children!) on the road can utterly destroy your budget.

Here are some tips and tricks I've learned that will be helpful to you.

Joshua

Jan 25, 2018
517-Isaiah's Job
38:00

This is an essay that has been deeply influential on my life. I hope you find it insightful and thought-provoking.

"Isaiah's Job" by Albert Jay Nock was first published in The Atlantic Monthly in 1936.

The written text of the document may be found here: http://traffic.libsyn.com/radicalpersonalfinance/Isaiahs_Job_by_Albert_Jay_Nock.pdf

Joshua

 

Jan 24, 2018
516-Don't Let Your Pursuit of Money Ruin Your Life
24:50

Money is important. But it's not #1.

Joshua

Jan 23, 2018
515-Battling Social Sneetchery: 3 Strategies to Consider when Confronting Peer-Pressure Spending
51:32

Social Peer Pressure is significant. And it affects most of us with regard to our spending.

Here are three strategies I think through when considering how to combat it.

Joshua

Jan 22, 2018
514-Friday Q&A: Should I Front-Load my 401(k) Contributions, Should I Fire My Financial Advisor For Lack of Value?
37:31

It's Friday! That means we do live Q&A. Today:

  • Should I Front-Load my 401(k) Contributions?
  • Should I Fire My Financial Advisor For Lack of Value?

Enjoy!

Joshua

Jan 19, 2018
513-What Gets Measured Gets Managed: How to Apply an Appropriate Level of Granularity to Your Budget Tracking Systems
43:33

Your financial tracking system is there to serve you. Make sure it's serving you effectively. Here's how!

Joshua

p.s., I use YNAB. Sign up for a free trial here: www.radicalpersonalfinance.com/YNAB

Also please support RPF on Patreon: www.radicalpersonalfinance.com/patron

Jan 17, 2018
512-How to Build and Use a Price Book to Save Money in the Short- and Long-Term and to Train Your Frugal Muscles for Massive Lifetime Wealth
01:21:38

One of the simplest and most effective tools you can employ to help you save money on the things you buy is a price book. In today's show, I share with you what a price book is, how to use it, and some tips and tricks to turbocharge your results.

Enjoy,

Joshua

Jan 15, 2018
511-Friday Q&A: Should I Use my 401(k) Money to Invest in Real Estate with a Self-Directed IRA, What Questions Could a Client Ask their Financial Advisor for a More Productive Relationship, Do I Risk the Wrath of the IRS by Moving From Sole Proprietor to
01:09:33

It's Friday! That means Q&A time. Today we cover:

  • Should I Use my 401(k) Money to Invest in Real Estate with a Self-Directed IRA
  • What Questions Could a Client Ask their Financial Advisor for a More Productive Relationship
  • Do I Risk the Wrath of the IRS by Moving From Sole Proprietor to S-Corp
  • When Is the Right Time to Hire a Tax Accountant Instead of Doing it Myself?

If you'd like to join for a future Q&A show, sign up here: www.RadicalPersonalFinance.com/patron

Joshua

Jan 12, 2018
510-Which Expenses in Your Budget Matter the Most?
43:05

Today:

  1. Which expenses matter the most?
  2. The value of variable expenses instead of fixed expenses.
  3. The importance of developing skill and resilience.

Joshua

Jan 11, 2018
509-How Much Does It Cost You to Live Today?
18:47
Jan 10, 2018
508-Three Ways to Save Money
29:16

Today we cover the three basic methods to save money:

  1. Buy it cheaper
  2. Make it last longer
  3. Use it less

Any one of these strategies is useful. But the real power comes when you implement all three of them.

Listen to the show to understand why!

Joshua

Jan 08, 2018
507-Friday Q&A: Should I Move From My Apartment and Buy a House in the Suburbs, How do I Set Up a Solo 401(k) So I Can do a Mega Backdoor Roth IRA, Should I Work as a 1099 Contractor or a W2 Employee
56:33

It's Friday! And it's time for Q&A. Today we cover:

  • Should I Move From My Apartment and Buy a House in the Suburbs
  • How do I Set Up a Solo 401(k) So I Can do a Mega Backdoor Roth IRA
  • Should I Work as a 1099 Contractor or a W2 Employee

If you'd like to join for a future Q&A show, sign up here: www.RadicalPersonalFinance.com/Patron

Joshua

Jan 05, 2018
506-Tax Reform, Bitcoin, Financial Tracking, A Good Cleanse...and Merry Christmas! (End-of-Year Wrapup for 2017)
01:14:49

Here's today's end-of-year wrapup for 2017!

  • Joshua's thoughts on tax reform...
  • ...and bitcoin...
  • ...and your financial tracking systems for 2018...
  • ...and a good year-end cleanse...
  • oh, and Merry Christmas!

Talk to you next year,

Joshua

Dec 22, 2017
Out and About: Joshua's Financial Privacy Advice on the Complete Privacy & Securit Podcast
01:27:52

(My interview starts at 7:30 into the show.)

I recently gave an interview to the Complete Privacy and Security Podcast on the topic of financial privacy. I think it was a really good interview.

This interview was originally published on December 8, 2017 here: https://operational-security.com/cps-podcast-e058-financial-privacy-security/

--

SHOW NOTES

INTRO
Motherboard Guide to Not Getting Hacked

MAIN TOPIC
Joshua Sheats of Radical Personal Finance joins us to discuss:
– Why being financially stable (and ideally independent) is an important component of personal privacy
– Joshua’s Stages of Financial Independence, and what each of them means:

Stage 0: Financial Dependence
Stage 1: Financial Solvency
Stage 2: Financial Stability
Stage 3: Debt Freedom
Stage 4: Financial Security
Stage 5: Financial Independence
Stage 6: Financial Freedom
Stage 7: Financial Abundance

– How to pick make an accountant or financial planner who respects your financial privacy & security – Episode 459 of Radical Personal Finance: Don’t Trust Your Financial Advisor!
– How trusts and LLCs can impact your finances and privacy
– How much cash you should have on hand and where you should store your emergency fund – Episode 481 of Radical Personal Finance: Where Should I Keep My Emergency Fund?
– Which precious metals you can sell in any amount without reporting the sale to the IRS
– Joshua’s thoughts on investing in precious metals, Bitcoin, and other alternative assets
– What you need to do right now to begin achieving financial independence

Be sure to check out Radical Personal Finance – it’s one of my favorite podcasts!

OFFENSE/DEFENSE
No Offense/Defense this week.

LISTENER QUESTIONS
1. How secure and/or private is Paypal.com? Do you recommend using Paypal?
2. If my bank doesn’t offer two factor authentication, what else can I do to protect my account?

Dec 19, 2017
505-Approximately 50 Podcasting Lessons Learned from 500 Episodes of Experience
02:03:10

Today, I'd like to interrupt the personal finance content with a show on podcasting. After recording over 500 episodes of Radical Personal Finance, I feel like I have some valuable lessons to share with other podcasters and with my listeners who are considering starting a podcast.

Enjoy,

Joshua

Dec 12, 2017
504-Roth IRAs Are Really Awesome Tools (Here's An Example Why)
36:05

If you enjoy learning how common financial instruments can be used to achieve incredible results, you'll enjoy this show.

Joshua

Dec 11, 2017
(replay) 121-Last-Minute Tax Planning Ideas To Save You Money
01:18:43

Today I have a replay for you of Episode 121. This episode was originally released December 17, 2014 and the information should be as relevant today as it was then.

Notes are here: https://radicalpersonalfinance.com/last-minute-tax-planning-ideas-to-save-you-money-rpf0121/

Dec 08, 2017
503-Tools and Principles to Help You Fight Nasty With Your Creditors and Win!
01:51:36

I really hate it when I see people bullied. And I especially hate to see debtors bullied by unethical debt collectors.

In today's show I share with you some tools, tactics, and techniques and knowledge to help you stand up for yourself in the face of an onslaught of bill collectors.

I hope these help you.

And, if you don't need this type of help, I hope these ideas help you to help someone else who does.

Joshua

Dec 06, 2017
Thanksgiving Day Greetings (and the Power of Gratitude in Your Financial Life)
12:39
Nov 22, 2017
Out & About: E232: How to Increase Wealth and Survive Your Likely Disaster (Joshua's Appearance on the In The Rabbit Hold Podcast)
54:31

Today's episode is an interview I gave for the "In The Rabbit Hole" urban survival podcast.

This episode was first released October 30, 2017 here: https://www.intherabbithole.com/e232/

Joshua

Nov 16, 2017
502-Pathways to Financial Freedom (in 10 years or less): RV Mechanic (and other small-scale, mobile trades)
42:33

Today we continue our discussion of how you can achieve financial freedom in 10 years or less with an analysis of a business I thought my way through recently: that of working as a mobile RV repairman/mechanic.

I think this business (or skilled trades with similar career profiles) has a huge amount to offer the aspiring financial freedom fighter.

Listen to today's show for analysis on the specifics of this opportunity and the parallels you can draw to other careers to help you become financially independent in 10 years or less.

Joshua

Nov 13, 2017
501-Joshua's Thoughts and Advice On How Men Can Protect Themselves, Their Families, and Their Careers from Being Destroyed by Sexual Scandal
01:35:58

I've had today's show in my head for the last few weeks as I've watched Hollywood--and the world--rocked day by day with allegation after allegation of sexual abuse by major, major stars.

I've watched careers destroyed, movie premiers canceled, and marriages torn asunder.

I've thought again and again about the financial destruction being wrought by these allegations against so many men. Not only the loss of careers, the mega-million-dollar settlements, but the financial destruction of forthcoming divorces and the emotional distress leading to lost productivity.

To me, it seemed like an important topic to discuss with regard to finances.

But I held back, because I felt as though I would be picking on ideological opponents when they're down and I don't want to be one who rejoices in another's time of distress.

Until yesterday.

When the allegations came out via the Washington Post against Judge Roy Moore in Alabama, I felt I couldn't stay silent any longer.

And so, today, here are my thoughts on how men can protect themselves from sexual scandal.

Joshua

Nov 10, 2017
Out and About: Joshua's Interview with Phil Taylor on the Masters of Money Podcast
01:09:00

I'm working on some back-office work this week and hustling to finish delivering the Radical Personal Finance Guide to Career and Income Planning before the Thanksgiving holiday, so today you get an "Out & About" interview!

This episode was released as Episode 37 of the Masters of Money Podcast on August 30, 2017. https://ptmoney.com/masters-money/

Nov 08, 2017
500-A Community Celebration of 500 Episodes
02:35:12

Today's show is very special. Together, we celebrate 500 episodes together! The show is centered on your voices and your feedback.

This is a very meaningful milestone for me. When I began RPF, I committed myself to recording 1,000 episodes, even if no one listened. 4 years later, I'm half finished with that commitment! And I'm so honored that thousands of you do listen. Your feedback in this episode is so encouraging to me.

Thank you,

Joshua

Nov 03, 2017
499-How to Live In Your Car and Love It!
01:00:08

Lots of people wind up living in their cars out of extreme financial stress. But today, I'm going to share with you a few of my strategies for living in your car for fun.

I've never lived in my car for a long period of time, but I have done it for up to two weeks. And, living (or more accurately staying/camping?) in your car can be:

  • fun
  • easy
  • comfortable
  • frugal

You should seriously consider it. And I'm here today to tell you why and how to do it well.

Joshua

Nov 02, 2017
498-How to Eat Super, Super Cheap when You're Flat Broke
01:02:33

I recently took a friend of mine (who is super broke) through a grocery store and shared with him some of my strategies to fill your tummy when you're flat broke.

This should help you save some cash...or at least help you teach someone else who's hungry how to eat cheap.

Joshua

  • Today's show is sponsored by Warby Parker. Get really nice and fashionable eyeglasses shipped right to your door for you to try on and save a ton in the process! www.WarbyParker.com/RPF
Oct 31, 2017
497-Prioritize Your Life, Not Your Money
15:04

After reading hundreds of listener emails this week, I've become very clear on the #1 mistake of the Radical Personal Finance audience.

Here's my attempt to help.

Joshua

Oct 20, 2017
496-The Risk of Paying Off Debt Too Fast
20:38

No, that title isn't clickbait. There really is risk created by paying off debt too quickly.

Details in the show.

Joshua

Oct 19, 2017
495-Would My 14-Year-Old Son's Marijuana Habit Destroy My Finances if I'm Using a Healthcare Sharing Ministry Like Samaritan Ministries to Pay for My Healthcare?
43:42

Today, we handle this interesting question from a listener:

"In talking about Samaritan to a pastor-friend he threw out the scenario that your middle school age son is injured in an accident while riding in a friend's car, and the police find marijuana in the car--what happens?

When I asked a Samaritan rep about it he said their board would carefully review the situation and if they deemed that your son wasn't responsible for/aware of the pot then his injury would be covered; if he was responsible/aware then he would not be covered.

While my kids are all under 8 right now and this scenario is a ways off as a possibility for us, I'm concerned that when they reach middle/high school age I may need to look into alternatives for a couple reasons: (1) I'm not fully convinced of an investigatory board's ability to discern for sure in such a scenario what was going on and (2) while I'm teaching my kids to obey their parents and the civil authorities, they are still sinners and, growing up being a learning process, I'm concerned that if one of my kids made a stupid choice as a 14 year old it could significantly haunt the whole family for a long time.

What are your thoughts on medical-sharing plans and this sort of scenario? (Obviously this is just one example of the many ways a child could make a sinful and stupid decision while still under their parent's care that could have long-term ramifications.)"

Enjoy!

Joshua

  • Sponsor: www.HelloFresh.com and use the promo code RPF30 to save $30 off your subscription!
  • If you decide to join Samaritan Ministries, tell them Joshua Sheats sent you over! That gets me a discount on my share next month. :) Thanks!
Oct 18, 2017
494-Planning for Wildfires
59:12

Erin writes in and says: "I love listening to your podcast- I know you've had a few episodes recently in reaction to current events. As a resident of the Bay Area I hope you could do an episode in relation to wild fires (if there isn't a past episode I am overlooking)."

Erin et al, here are my suggestions for you!

Joshua

 

Oct 17, 2017
493-Should I Sell My Harley and Buy Some More Mutual Funds?
12:41

Fun question today for our Friday episode...comes in from Chris:

Joshua,

Looking to see if you have any insight on emotional/psychological decisions versus logical decisions when it comes to finance.

Back story -

I have a paid for 20 year old Harley. I have not ridden it in three years, I spend $200/year on an insurance policy, each spring I do maintenance on it which costs about $30, and living in Minnesota, we only really have 6 months or so of decent riding weather. I have a big garage so storage is not an issue, apart from each winter when I have to move it around in and tell myself I'll sell it in the spring.

I can make the logical argument to myself that I need to sell this. It is a depreciating asset, costs money to maintain and insure, and it really brings no value to my life.

However, I can not bring myself to sell it. I have no pressing financial obligations so the $5-6k that I would get from selling it would really not do much to improve my life. About the only thing that I would do with the money is put in a taxable brokerage account (through a RPF link tradeking account, of course).

I have told myself I am going to sell this bike for years now, but I still can't figure out why I still have it.

Any insight would be helpful, and as always, thanks for the great show!

 

Oct 13, 2017
492-Choose Your Hammer Carefully and Stop Beating Up Others for Preferring a Different Hammer
12:06

I thought about simply calling today's show, "On Hammers."

You pick the title you prefer...but recognize the truth: tools are tools and their usefulness depends not on their inherent attributes but on their appropriate application.

Joshua

Oct 12, 2017
491-Q&A: More Money Into Retirement or Buy a House, Can I Use a Donor-Advised Fund for Church Contributions, Should I Move From Commission-Based Job to Salary-Based Job, Should I Keep an India-Based Whole Life Insurance Policy?
01:33:38

Today's show rounds out a special series of live Q&A shows. Today we cover:

  • 1:20 Should I put more money into my retirement plan or buy a house?
  • 18:45 Can I use a donor-advised fund as a smart way to get a bigger tax deduction for my contribution to my local church?
  • 32:30 Should I move from a commission-based job to a salary job which also means a salary cut?
  • 39:10 Should I buy a joint universal life insurance policy to protect my new baby?
  • 1:10:00 Should I keep an India-based whole life insurance policy now that I'm a US resident?

Enjoy the show!

Joshua

Oct 09, 2017
490-Q&A: Paying for a Seminary Degree with Early Distributions from a Retirement Account, Can I Still Become Financially Indpendent if We Move to Paradise First, Should We Sell Our Rental House or Move Back for Tax-Free Gains, Are Healthcare Sharing Minis
51:01

I've been doing a live Q&A series...today we cover these:

  • 1:24 - Can I Pay for My Seminary Degree with Early Distributions from a Retirement Account?
  • 13:30 - Can I Still Become Financially Independent if We Move to Paradise First?
  • 25:45 - Should We Sell our Rental House Two States Away or Plan to Move Back to It In Order to Get the Tax-Free Gains on a Future Sale?
  • 37:45 - Are Healthcare Sharing Ministries Like Samaritan Ministries Any Good?

Joshua

 

Oct 05, 2017
489-Lessons From Las Vegas: A Few Practical Ways You Can Prepare For Being Involved in an Active Shooter Scenario
29:05

As we all watch and process the mass shooting in Las Vegas this weekend, I thought it would be appropriate to share a few lessons learned.

I always try to process an event like this with an eye towards the lessons I can learn.

The tactical situation in Las Vegas was impossible. I don't think you could imagine a worse situation to be in as a concert-goer. An absolute nightmare.

But, I do have a few thoughts that I think can help. And since I don't hear anyone sharing anything practical, here are my suggestions.

If you have additional practical, actionable ideas, I'd love to hear them.

Joshua

Oct 03, 2017
488-Q&A: What Should I Do With a Large Bonus, How Can I Counsel a Young Lady Who Is Using Her Earnings to Support Her Poor Mother
40:50

I'm hosting a special Q&A series this week which is open to the entire listening audience.

Today we tackle:

  • What Should I Do With a Large Bonus?
  • How Can I Counsel a Young Lady Who Is Using Her Earnings to Support Her Poor Mother?

If you'd like to call in for tomorrow's show, here are the details you need to know.

Joshua

Oct 02, 2017
487-Friday Q&A: Should I Use a Whole Life Insurance Policy as My Retirement Bridge, Should I Concentrate All of My Investment Accounts With One Manager
01:11:15

On Friday's, we do Q&A for our Patrons! Today, we cover:

  • Should I Use a Whole Life Insurance Policy as My Retirement Bridge?
  • Should I Concentrate All of My Investment Accounts With One Manager?

Joshua

Sep 29, 2017
486-Ignore the Republicans...What Do You Think Is the Right Approach To Income Taxation and Why?
27:28

I feel like I owe it to you to keep you semi-current on the state of tax policy in the USA. But, it's too early to have any serious details about the current Republican proposals.

I thought instead we could have a useful philosophical discussion about taxation. My challenge to you today is to answer these questions, for yourself.

  • Do you believe that a civil government has the moral right to tax an individual's income? Why or why not?
    • Do you believe that the US civil government has the constitutional right to tax an individual's income?
  • If you believe that a civil government does have this right, how much of a person's income can they claim? What's the right number and how would you know?
  • Do you believe that everyone should be required to pay income taxes?
  • Do you believe that some people should be treated differently than others and so be ordered to pay a different rate of income tax than others? Why or why not?
    • If so, how would we determine who should be treated differently and how much of a difference there should be?
  • Do you believe that government tax policy should be used to incentivize certain behaviors or to dis-incentivize other behaviors?
    • If so, how would we know what behaviors should be incentivized and which ones shouldn't?
  • Do you believe that tax policy should be used to give some people special benefits because of certain behaviors?

Joshua

Sep 28, 2017
484-How Should I Handle a Sizable Gift From My In-Laws?
28:58

Today's question involves a generous financial gift from an in-law. How should this listener handle it to make sure it's a blessing and not a curse?

Joshua

Sep 25, 2017
483-This Too Shall Pass: Keep Pressing Forward
18:36

I'm just wrapping up a week and I've been off the mic for all of it due to being sick.

Wanted to share with you a short motivational monologue to encourage you to keep pressing forward in the challenges you're facing today.

This too shall pass.

Joshua

Sep 22, 2017
[REPLAY] How to Protect Your Financial Privacy and Keep Your Accounts Secure: Interview with Justin Carroll from the Complete Privacy and Security Podcast
01:50:08

I've been sick most of the past week and am especially struggling with my throat/voice. When Joshua no speak, RPF no happen. (And of course that's a good reminder of the value of disability planning!)

So, in light of the Equifax breach, I'll issue this replay for you. If you skipped this episode when it originally aired as Episode 461, don't skip it now.

Enjoy.

Joshua

 

Sep 20, 2017
482-The Equifax Data Breach: Background, How It Affects You, and the Minimum Steps You Need to Take to Protect Yourself
57:50

Today we tackle the Equifax security breach. This is the most damaging release of personal information ever. And you need to take it seriously.

You must assume that you have been affected. At this point, I see no reason to even trust the official Equifax website. Here's why.

Sep 15, 2017
481-Where Should I Keep My Emergency Fund?
01:36:49

I was inspired to do this show by watching a recent conversation thread in the RPF Facebook Group about where to store your emergency fund.

I thought it'd be fun to share with you the things I think about with regard to emergency fund storage.

Enjoy the show!

Joshua

Sep 13, 2017
How we Fared in Hurricane Irma (personal)
22:28

Hey Radicals!

Thank you to so many of you who have inquired of our health and safety following Hurricane Irma.

Here's my personal report for you!

Short version: we are well. :)

Joshua

Sep 13, 2017
480-Hurricane Irma Musings: The Thin Veneer of Civility and the Thick Adjustability of our Modern Shipping System, Storm Preps, and More
48:48

I've been busy today preparing for Hurricane Irma here at the Radical Personal Finance Global Headquarters.

At the moment, the National Hurricane Center forecasts the eye of the storm to pass squarely over HQ.

So, I thought I'd record a podcast and share a few things with you:

  • Based on watching the Hurricane Irma frenzy, I'm convinced that "societal collapse" scenarios are plausible. I learned this at Costco yesterday.
  • I'm also convinced we live in the greatest time to be alive and that there are so many tremendously powerful companies who are laser-focused on serving their customers. I learned this at Costco today. And from reading this article: https://www.linkedin.com/pulse/inside-story-what-took-keep-texas-grocery-chain-running-chip-cutter
  • The final 20 minutes of the show involves an off-the-cuff discussion of practical hurricane preparation if you decide to stay put through a storm.

Gotta run! Lots to do...

Joshua

Sep 06, 2017
479-Friday Q&A: What Should a New Expatriate Do With Their Investment Money, What To Do With an Old Pension, How Should a Newlywed Approach the Rent or Buy Question
47:56

It's Friday! On Fridays we do a live Q&A show. Today we cover:

  • (2:30) What Should a New Expatriate Do With Their Investment Money?
  • (18:30) What To Do With an Old Pension?
  • (26:40) How Should a Newlywed Approach the Rent or Buy Question?

If you'd like to join me for a future Q&A show, sign up to be a Patron at www.radicalpersonalfinance.com/patron

Joshua

Sep 01, 2017
478-The Utility and Morality of Price Gouging
01:36:03

Whenever there's a natural disaster, we have various articles on price gouging's lamentability, to wit, it's harmfulness and illegality.

But, is it really bad?

I say not.

"Price gouging" (or, more accurately stated, the adjustment of market prices to meet changing demand) has tremendous utility for the well-being of all involved and is absolutely upright, moral, and ethical.

Of course, this guy says it's wrong, morally and economically. I deal with his "arguments" in the show.

Joshua

Aug 29, 2017
477-Practical Financial Planning for Large-Scale Disasters Like the Houston Floods
52:54

I've been watching the #HoustonFloods this weekend and considering the lessons I can learn for my own disaster planning.

Today, I share some useful ideas for you about how to plan for events like the Houston Floods.

Joshua

 

Aug 28, 2017
476-Pathways to Financial Freedom (in 10 years or less): Expediter Trucking (and other live-on-the-job opportunities)
40:49

Yesterday I was watching the solar eclipse (up north in the 100% band) and I happened to have breakfast with an expediter.

Not sure what that is?

Basically, a truck driver who drives a van. (More in the audio show.)

As we ate, I tried to lay out a few paths on how he could become financially free based on his current work.

And, I promised him a show on the topic.

So, you get to listen in as I tell him--and you--how any normal person can use a live-on-the-job opportunity as a trampoline to bounce them into the upper tiers of financial abundance.

Enjoy!

Joshua

Aug 22, 2017
475-Friday Q&A: Should I ReFi My CC Debt with a HELOC, Does Passion for a Job Come After You Have Experience, Should I Dump The Military Survivor Benefit Plan in Favor of a Whole Life Policy?
01:11:12

Time for Friday Q&A! If you'd like to join for a future show, sign up here: www.radicalpersonalfinance.com/patron

Today, we cover:

  • 2:00 Should I refinance my credit card debt by moving it to a HELOC?
  • 34:10 Do you have passion for a job before the fact or do you become passionate about it after you're good at it?
  • 42:30 Should I drop the military's Survivor Benefit Plan for my pension in favor of buying a 10-year whole life insurance policy?

Enjoy!

And remember! I have 27 seats remaining for the new Radical Personal Finance Guide to Career & Income Planning. If you're interested, I'd love to have you in the class. Join here: www.radicalpersonalfinance.com/career

Joshua

 

Aug 11, 2017
474-The Interplay of Human & Financial Capital, Wages & Profits, Rents and Business
36:23

As I celebrate the opening of the registration page for the beta launch of the new Radical Personal Finance Guide to Career & Income Planning, I intend to share with you a few simple lessons related to career and income.

Today, we begin with the philosophical fundamentals: the interplay of human capital and financial capital. We all start with what we have (human capital) and use it to create financial capital, which we ultimately work to have in surplus. Once we have surplus, we get to decide what to do with it.

Enjoy!

Joshua

  • Try Hello Fresh to get awesome, pre-measured fresh ingredients delivered right to your front door! Save $30 off your subscription with code RPF30! www.hellofresh.com/rpf30
  • If you're interested in joining the beta launch of my new Guide to Career and Income Planning, I've got 65 seats left. Registration closes either on 8/20 or when I sell out the seats, whichever comes first. More details here: www.radicalpersonalfinance.com/career
Aug 08, 2017
473-What's Wrong With Radical Personal Finance?
01:22:37

I've had a tough summer. I have nothing to complain about. I've been richly blessed and, in almost every way outside of Radical Personal Finance, life has been sweet. But, RPF hasn't been so great for me. And, if it hasn't been so great for me, it might not have been so great for you either.

I thought you might appreciate hearing the explanation and the story.

It's important to me to share the good and the bad--the heights and the lows--with you in order to help you understand that we all share common struggles and trials.

That said, I don't think it's helpful to talk about problems unless I can also suggest a solution. And, thankfully, I've worked out some solutions to my problems. So, now I'm ready to share the problems with you!

I've figured out what's wrong with Radical Personal Finance. And [I think] I've figured out how to fix it!

Here's the story...

Joshua

Aug 03, 2017
472-Friday Q&A: Can I Have Both a SIMPLE IRA and a Traditional IRA, What Personal Finance Books Does Joshua Recommend, What Three Investments Would I Buy To Leave Alone for a Decade, What Are the Rules of Thumb for Who Should Buy Long-Term Care Insurance
56:42

On Fridays we do a live Q&A which is open to Patrons of the show. Become a Patron at www.RadicalPersonalFinance.com/patron

Today we cover:

  • Can I Have Both a SIMPLE IRA and a Traditional IRA
  • What Personal Finance Books Does Joshua Recommend
  • What Three Investments Would I Buy To Leave Alone for a Decade
  • What Are the Rules of Thumb for Who Should Buy Long-Term Care Insurance
  • And more!

Joshua

Jul 28, 2017
471-Friday Q&A: What's the Best Type of Retirement Plan for my Wife's Side Business, How Can I Help My Sister-in-Law Who is Asking me for Financial Advice, Should I Pay Off My Debt as Fast as Possible or Save Up and Pay it Off in Large Chunks?
52:26

On Fridays, I host a Q&A call. Patrons of the show are invited to call in and ask any question they want!

Today, we cover:

  • (1:57) What's the best type of retirement plan for my wife's side business? (SEP IRA, SIMPLE IRA, Solo 401(k)?)
  • (16:45) How can I help my sister-in-law who is asking me for financial advice?
  • (30:20) Should I pay off my debt as fast as possible or save up and pay it off in large chunks of money?

Joshua

Jul 21, 2017
470-The Danger of a Financial Plan Built on Extremely Low Spending Projections
35:46

There's been an interesting switch in the world of personal finance wherein some people are building financial plans based on extremely low spending projections. In essence, some people assume that if they can live on an extremely low budget per year today, they can build a long-term financial plan predicated on maintaining that spending forever.

I think this is a dangerous assumption. And, in today's show, I explain why.

Joshua

Jul 20, 2017
469-Friday Q&A: Is It Legit That You Can Find Missing Money That's Still Unclaimed, Should I Take Free Housing With a Longer Commute, How Do I Deal With Massive Medical Bills, Do I Need a Personal Insurance Agent, and What Three Books Would Joshua Take to
01:25:26

Welcome to another Friday Q&A Show! Today, we cover:

  • Is It Legit That You Can Find Missing Money That's Still Unclaimed
  • Should I Take Free Housing With a Longer Commute
  • How Do I Deal With Massive Medical Bills
  • Do I Need a Personal Insurance Agent
  • What Three Books Would Joshua Take to A Desert Island?

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

Joshua

  • Save $30 off a new subscription for awesome food at www.HelloFresh.com using coupon code: "RPF30" Give it a try!
Jul 13, 2017
468-Friday Q&A: How does an LLC Protect My Liability and Help Me Save on Tax, How Can I Lower My Tax Bill on the Sale of My House
44:47

Friday Q&A is back! Today:

  • How does an LLC Protect My Liability and Help Me Save on Tax?
  • How Can I Lower My Tax Bill on the Sale of My House?

If you'd like to participate on a future show, sign up here! www.radicalpersonalfinance.com/patron

Joshua

Jul 07, 2017
467-Debt: Should we Measure it Based on Financial Risk or Lifestyle Risk?
35:32

I've long struggled to know how to advise people with regard to debt. On the one hand, the use of debt can dramatically increase the financial returns of an investment. On the other hand, debt can have a dramatic negative impact on the lifestyle of the borrower when everything goes wrong.

So, how do we reconcile these two things?

I've come to see that they're two entirely different scales. Because they are two totally different scales (think: how do kilograms and degrees Fahrenheit interact with one another), it's hard to simultaneously factor in both.

Enjoy the show,

Joshua

Jun 30, 2017
466-The USA's Long-Term Fiscal Gap and Why It Matters to You (America’s Fiscal Insolvency and Its Generational Consequences by Professor Laurence Kotlikoff)
43:28

I've alluded to my long-term guess that the US Government will default on many of its current promises.

But, I've never really supported that argument.

I thought I'd kick that support off today by sharing with you a succinct and coherent description of the problem by reading Professor Laurence Kotlikoff's testimony to the Senate Budget Comittee in 2015.

Enjoy,

Joshua

Jun 21, 2017
465-How to Build Passive Income By Investing in Raw Land: Interview with Mark Podolsky, the Land Geek
53:44

I've never invested in raw land. My #1 reason? Since raw land has no utility, there's no way to pull income from it. And at this stage of my life, I value income-producing assets.

But, my guest on today's show has a great system for solving that problem.

He has parlayed raw land into a very helpful income stream leading to his own financial freedom.

Enjoy my interview with Mark!

Joshua

Jun 19, 2017
464-The Seasons of Work: How to Get More Important Work Done Without Destroying Your Lifestyle
44:32

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!
Jun 14, 2017
463-The Usefulness and Prioritization of Money in the Seasons of Your Life
54:52

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

 

Jun 12, 2017
462-Understanding your Funeral Options (and How to Save Money when Working with a Funeral Director)
01:16:59

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!

Jun 05, 2017
461-How to Protect Your Financial Privacy and Keep Your Accounts Secure: Interview with Justin Carroll from the Complete Privacy and Security Podcast
01:50:08

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:

May 26, 2017
460-How to Decide What To Invest In
53:38

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.

May 24, 2017
459-Don't Trust Your Financial Advisor!
29:29

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

 

May 22, 2017
458-Mexican Taxis, Drug Cartels, License Plates, Registration Stickers, Goons with Guns...and You!
32:13

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

May 18, 2017
Quit Social Media by Dr. Cal Newport
13:51

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

May 11, 2017
457-Celebrating the Arrival of a New Baby!
23:05

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

May 09, 2017
10 Rules for Dealing With the Police (Audio)
38:04

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

May 04, 2017
You Have the Right to Remain Innocent, by Law Professors James Duane and Randy E Barnett
01:26:23

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.

May 03, 2017
Don't Talk to the Police - James Duane, Law Professor at Regent University School of Law
46:39

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

May 02, 2017
456-Protect Your Money by Arrest-Proofing Yourself and Your Children
02:24:37

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

 

May 01, 2017
455-A Business Approach That Works For This Stay-At-Home Mome: Interview with Dr. Marilyn Brodeur, Founder of the Infant Dental Center
43:00

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

Apr 25, 2017
Out & About: Everything Financial Radio Appearance with Dennis Tubbergen to Discuss How to Live a Rich Life Now
43:19

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!

Apr 18, 2017
454-Friday Q&A: Where Should a 48-Year-Old Focus Financially, 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 Co
56:28

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?
Apr 14, 2017
452-The Rule of 72
15:10

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

Apr 13, 2017
451-The Millionaire Next Door Wealth Index: How Do You Stack Up?
19:09

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."

Apr 12, 2017
450-Network Marketing, Multi-Level Marketing, & Pyramid Schemes: Are They Legitimate Business Opportunities or a Complete Scam?
48:57

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

Apr 11, 2017
Secrets to Success (ETtheHipHopPreacher)
09:02

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

Apr 10, 2017
449-Friday Q&A: 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,
52:34

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

Apr 07, 2017
448-Mythbusting: Your 401(k) Won't Make You Rich! Here's Why...
45:17

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

Apr 06, 2017
Out & About: My Appearance on "Best Real Estate Advice Ever" with Joe Fairless
22:56

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/

Apr 05, 2017
Out & About: My Appearance on Sound Retirement Planning Podcast with Jason Parker
25:06

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/

Apr 04, 2017
447-Mythbusting: The Myth of Passive Income
30:17

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

Apr 03, 2017
446-Friday Q&A: Should We Sell the House we Just Moved Out of, Should I Fire My Financial Advisor, A Cool Networking Event for Celebrities that I Admire, How Can Divorced Men Pay Less Child Support, and More!
58:22

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

Mar 31, 2017
445-Should we Keep Paying off Our House with Gazelle Intensity or Switch to Saving 15% for Retirement?
29:48

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

--

Mar 30, 2017
444-Yes, You Can Afford For Your Wife to Stay At Home...Here's How!
37:13

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

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
Mar 29, 2017
443-1 Year, 50 States, 3 Children, $1,000,000, and the Launch of A Brand-New Business: Interview with Anthony Amos from Bathe to Save
39:30

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

Mar 28, 2017
442-How to Do Your Own Taxes The Easy Way (And Should You Hire an Accountant?)
24:39

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
Mar 27, 2017
441-Friday Q&A (Live): 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
35:12

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

Mar 24, 2017
440-How to Grow Your Podcast Audience with Effective Marketing
28:55

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

Mar 23, 2017
439-Book Review: Unshakeable - Your Financial Freedom Playbook by Tony Robbins
01:08:47

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.

 

 

Mar 22, 2017
438-The Audience Demographics of Radical Personal Finance (And What Surprised Me the Most!)
27:33

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%

Mar 21, 2017
437-Mustachianism 101: The Philosophy of Mr. Money Mustache
44:06

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

Mar 20, 2017
Special Request: Please Send me a Voicemail and a Picture
05:21

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

Mar 18, 2017
Out & About: My Interview on the Richer Soul Podast with Rocky Lalvani
01:09:25

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

Mar 15, 2017
436-The Most Valuable Lessons I Learned As a Financial Advisor: #1 Don't Wait for the Business to Come To You...You Go Find It!
26:23

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

Mar 13, 2017
435-Plan Your Weekend--This Weekend--Like You Plan Your Workweek
11:28

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

Mar 10, 2017
434-Radical Lifestyle Stories: How this Filipina Immigrant Named Ruby is Pursuing Financial Independence in Less Than 10 Years
22:13

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

Mar 08, 2017
433-Eighteen Simple, Free (or Very Cheap) Ways to Protect Your Financial Security and Privacy
01:00:14

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

Mar 07, 2017
432-Gwen (A Fiery Millenial) Gives Her Take on Financial Independence and Early Retirement for Millenials
31:02

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

Mar 03, 2017
431-How a 22-Year-Old College Grad Should Prioritize Their Steps Towards Financial Independence
32:27

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

Feb 28, 2017
430-Should A Retiring Naval Officer Invest in Real Estate or Do Something Else?
23:55

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!

Feb 27, 2017
429-Should I Use Whole Life Insurance as a College Savings Plan?
33:14

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

Feb 22, 2017
428-How to Get Richer Every Day (Questioning Commonly Accepted Wisdom)
28:54

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

Joshua

Feb 20, 2017
427-Experiments in Financial Independence: Conversation with Jonathan and Brad from ChooseFI.com
31:09

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

Feb 14, 2017
426-Friday Q&A: 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
41:18

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

Feb 10, 2017
425-Interview with Mr. Money Mustache! Memorable Moments, Current Projects, Impact on the PF Community
35:39

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

Feb 07, 2017
424-Financial Freedom in Just a Few Years with AirBnB Property Management! Interview with Zeona McIntyre
30:42

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

Feb 02, 2017
423-Financial Planning for Your Refugee Status: How to Plan Ahead So You're Not Caught Unprepared as a Refugee
01:15:20

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

 

Jan 31, 2017
Out & About: My Interview On the Nomad Together Podcast "A Radical Approach to Finance"
52:31

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

Jan 27, 2017
422-Former CEO of Lehman Brothers Opines On Careers, Banking, Money, and Retirement: Interview with Andy Sage
59:03

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

Jan 26, 2017
421-Success --> Failure --> Success, the Hard Way! What You Can Learn About Money and Investing From This Woman Who Lost It All
50:11

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

Jan 25, 2017
420-Radical Lifestyle Stories: How This Young Couple Increased Their Savings Rate From 8% to 80% of Their Income
25:49

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

 

Jan 24, 2017
419-Why Car Leasing is Simultaneously Crazy Expensive and Crazy Cheap (and How to Get Out of Your Existing Lease!)
38:05

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

Jan 24, 2017
418-Saturday Q&A: Your Comments, Suggestions, and Questions
47:19

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).

Jan 22, 2017
417-Friday Q&A: Should I Follow Dave Ramsey's Baby Steps and Pay off My House Early, I Had an Unexpected Child...Should I Finish Graduate School or Drop Out to Be a Mom?
01:08:48

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

Jan 20, 2017
416-Radical Lifestyle Stories: How Bill Enjoyed a Career of Travel and Adventure and Still Retired at Age 42
01:06:45

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

Jan 19, 2017
415-Invest in Your Personal Safety: It's Cheap to Do and the Payoff Can Be Massive
20:52

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

Jan 18, 2017
414-Radical Lifestyle Stories: How This Man Gave Up a Modern Life to Build an Off-Grid House, Farm, and Business Making Handcrafted Pine Coffins! Interview with Don Byrne from Piedmont Pine Coffins
53:42

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

Jan 17, 2017
413-Why Wait Until You're F.I. to Live Like You're F.I.? My Speech at Camp Mustache SE 2017
50:29

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

 

Jan 16, 2017
412-Friday Q&A: 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?
01:03:08

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

Jan 13, 2017
411-New Year Homework: How to Check, Monitor, and Freeze Your Credit Score for Free
23:46

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

Jan 12, 2017
410-Dow 20,000? What Does it Mean and What Should You Do About It?
46:20

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

Jan 11, 2017
409-How to Get Yourself Put 6 Feet Under Dirt Cheap!
01:10:53

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

Jan 10, 2017
408-Budget Categories for the New Year that Actually Matter
01:15:19

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

Jan 09, 2017
407-Motorhomes, RVs, Travel Trailers and You: Radical Tips, Ideas, and Good Advice so You Don't Get Taken
01:27:59

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

Jan 06, 2017
406-My Plans for RPF in 2017
38:57

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

Jan 04, 2017
405-The Health Insurance Series Part 6: HCSM Wrap-Up, Self-Insurance, Direct Primary Care/Concierge Care, Catastrophic Coverage, Dread Disease/Critical Illness Insurance, Doctors on Call
48:03

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

 

Dec 16, 2016
404-The Health Insurance Series, Part 5: Health Care Sharing Ministries (this is how we pay for our health care costs in the Sheats family)
01:27:46

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!

Dec 12, 2016
403-The Health Insurance Series, Part 4: How to Avoid (and Evade) the Obamacare Tax Penalty
01:14:05

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

Dec 06, 2016
402-How to Raise Money for your Company Without a Bank or VC! (And Perhaps Find Your Next Big Investment Winner): Interview with Nathan Rose, Author of "Equity Crowdfunding: The Complete Guide for Startups and Growing Companies"
01:00:47

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

 

Dec 05, 2016
401-Annual Income Goals are for Dreamers; Hourly Income Goals are for You (If You're Serious About Your Wealth)
25:06

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

Dec 02, 2016
400-The First Two Weeks of December Are Crucial For Your 2017 Success
20:05

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

Dec 01, 2016
399-Thanksgiving Greetings and Encouragement
24:06

Happy Thanksgiving Day, Radicals!

Joshua

Nov 23, 2016
398-How to Invest In Your Local Community for Financial Profit and Community Gain: Interview With Businessman and Investor Tim Yarbrough
01:14:09

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

Nov 17, 2016
397-The Health Insurance Series, Part 3: The Premium Tax Credit (PTC): What It Is, How It Works, and How to Maximize Your Cash From It
34:52

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

Nov 16, 2016
396-Job --> High-Paying Job --> Savings --> Real Estate Investment --> Business --> Financial Freedom: Interview with Joe Fairless, Host of the Best Real Estate Investing Advice Ever Podcast
48:25

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

Nov 14, 2016
395-The Health Insurance Series, Part 2: Why I'm Opposed to Obamacare (And Will Probably Be Opposed to Trumpcare When It Comes Along)
01:01:29

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

Nov 09, 2016
394-On Voting, Elections, & Presidential Politics: 10 Things You Can Do That Will Actually Make a Difference in Your Life and Community (aka, Joshua's Antidote to Your Election Fever)
01:05:14

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

Nov 07, 2016
393-The Health Insurance Series, Part 1: Your Health Is More Important Than Your Health Care or Health Insurance
35:38

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

Nov 03, 2016
392-How to Fight Local Gov to Lower Your Local Tax Bill (aka, An Antidote to Your Current Political Depression): Interview with Paul Dorr from RollBackLocalGov.com
01:00:13

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

Oct 28, 2016
391-A Few Useful Tax-Planning Techniques: Interview with Craig Cody, CPA, Co-Author of "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss"
36:14

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

 

Oct 27, 2016
390-How (and Why) to Engineer Your Layoff! Interview with Sam, the Financial Samurai
01:18:57

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

 

Oct 26, 2016
389-Banish These Two Common Phrases from Your Vocabulary to Take Back Control of Your Life and Your Wealth
16:35

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

Oct 25, 2016
388-Drunkenness Will Destroy Your Wealth. Don't Participate!
39:38

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. 

Oct 21, 2016
387-You Should Consider Buying a Chevy Volt as your Next Car. Here's Why!
22:06
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
Oct 18, 2016
386-Don't Get Ripped Off: You Should Not Upgrade Your Car in Order to Get Better Gas Mileage!
01:02:44

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

Oct 17, 2016
Audio of Steven Harris's Family Emergency Preparedness Class
02:51:05

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

Oct 14, 2016
Audio of Wendy DeWitt's "Sensible Food Storage" Seminar
58:53

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 

Oct 14, 2016
385-A Sensible Approach to Food Insurance, aka, Home Food Storage (2 of 2)
30:42

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

Oct 14, 2016
384-A Sensible Approach to Food Insurance, aka, Home Food Storage (1 of 2)
45:53

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

Oct 14, 2016
383-Budget for the Accessories
38:09

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

Oct 12, 2016
382-How to Remove Your Adult Children from Suckling at Your Financial Teat (aka, How to Get Your Boomerang Kids to Grow Up and Leave!)
48:59

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

 

Oct 05, 2016
381-Simple, Cheap, Practical Tips to Help You Prepare for a Coming Hurricane
01:07:45

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/ 

 

 

Oct 04, 2016
380-Practical Advice for Employees to Dramatically Improve the Trajectory of Your Career
01:05:42

Are you an employee?

Want to make more money?

Want to have a tremendous career?

Listen to this show.

Joshua

Sep 30, 2016
379-The Perils of Success (and Why I'm Taking the Filter off the Content of RPF in Order to Maintain and Grow my own Success)
01:22:09

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 
Sep 29, 2016
378-You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life: Interview with Author Jason Vitug from Phroogal.com
01:01:15

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

Sep 27, 2016
Out & About: The Stages of Financial Independence-My Appearance on the Afford Anything Podcast with Paula Pant
01:25:16

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

Sep 26, 2016
Quick Announcement: Meet Up With Me in San Diego, CA This Week at #FinCon16
03:19

Hey Radicals!

I'm heading to California today for #FinCon16. I'd love to connect with as many of you as possible while I'm there!

I'll be available on Thursday, Friday, and Saturday (9/22 to 9/24).

Reach out to me on Twitter and let's schedule a time to connect! https://twitter.com/JoshuaSheats

Joshua

Sep 21, 2016
377-Should You Go to Graduate School as a Simple Way of Increasing Your Income? Interview with Matt Miner from Design Independence
01:03:18

We know that it's worthwhile to increase income in order to reach our financial goals more quickly. But how can we do that?

One proven way is to get advanced education by attending graduate school.

My guest today is Matt Miner. He followed the time-worn path of attending graduate business school as a way of significantly increasing his earnings and he's learned from that experience. He's also studied the issue extensively, so he brings both personal experience and study to this question.

In this show we discuss:

  • Matt's personal path to improved finances
  • His advice on how to answer the question of, "Should I go to graduate school?"
  • Various options and ways to get the thing done!

Enjoy the show!

Joshua

Sep 21, 2016
376-My Suggestions for How This 13-Year-Old Student Can Be Financially Independent at 30
01:21:45

I received the note below from a listener of my show and today I answer it!

Enjoy,

Joshua

-----

Hi Mr. Sheats!

I'm a home educated 13-year-old fan of your podcast.  I love how in-depth, interesting, and out-of-the-box it is.  I used to listen to the Dave Ramsey Show a lot, but that got really bland, so my dad suggested your show.  I love it!
I've been listening pretty much daily since January of this year, and you've inspired me to become financially independent before age 30.  Right now, I'm saving 70% of my income from working at my parents' dental office and trying to develop skills that will get me closer to that goal (such as math, coding, and finance, all things I love learning about and think have the best potential to help me become financially independent).

Do you have any advice for a thirteen-year-old listener like me?

As for a specific question, I was wondering whether you would recommend I continue doing high school at home or attending our local public school.

I'm really interested in taking CLEP classes since those could help me finish college faster.

As far as I can tell, the pros of public school are:

  • I'm pretty extroverted, so being able to hang out with friends every day sounds fun (although I'm sure high school isn't just hanging out!).
    The high school in our district is ranked 10/10, so it's supposed to be a good school academically.
  • It might be a good way to get a feel for going to a "normal" school and make getting used to staying at the teacher's pace, and other skills I might need for college easier.
  • The transcript is automatic, but in home education, you have to detail everything yourself and make sure it fits with requirements.


Cons:

  • I love being home educated!
  • I'm an independent learner, and I can learn faster just reading something and taking a test than sitting in class for an hour.
  • I'd probably have less time in a public school as opposed to home education.  Other than hanging out with friends, writing my fantasy novel, and playing music, I want to spend my free time as a homeschooler learning skills, experimenting with starting a business, and studying CLEP.
  • I'd have to stick with the class, but with home education, everything's based on your pace, so you can go faster.
  • I love how we can take vacations or days off sporadically, but in public school, with such long summer breaks, etc, you can't miss a day comfortably.
  • I'd have to wake up early (;

Thanks for all your time!

 

Sep 16, 2016
375-The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life; Interview with Author Lauren Greutman (I Am That Lady from IAmThatLady.com)
01:05:34

My guest today is Lauren Greutman. Lauren has been on RPF before (with her husband Mark) way back at Episode 108.

But today she's back today as part of the book launch tour for her brand-new book: The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life.

In today's episode, we cover: 

  • Lauren's personal story and her highs and lows
  • Lauren's systematic, step-by-step advice for how to overcome a spending addiction
  • And more!

Enjoy the interview!

Joshua

 

Sep 13, 2016
374-Friday Q&A: How Should I Structure My Purchase of an iPhone, What Should I Think About When Buying a House, How Many Credit Cards Should I Have For Optimal Living, How Should I Value My Defined-Benefit Pension Plan
01:07:11

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

  • How Should I Structure My Purchase of an iPhone?
  • What Should I Think About When Buying a House?
  • How Many Credit Cards Should I Have For Optimal Living?
  • How Should I Value My Defined-Benefit Pension Plan

If you'd like to join for a future Q&A call, join here: www.radicalpersonalfinance.com/patron 

Joshua

Sep 09, 2016
373-An Introduction to Types of Business Entities: Sole Proprietorship, Partnership, Limited Liability Company (LLC), Limited Liability Partnership (LLP), C Corporation, S Corporation
01:06:56

You want to start a business...so, you have to decide what type of business entity to use, right? 

Well, yes and no. Yes in the sense that it is an important decision. But no in the sense that you should first focus on how you're going to build the business...and you should probably just start the business and see if it will work.

But, it is an important decision. And there is a lot of confusion over all these entities.

Today we cover these entities in an introductory capacity:

  • Sole Proprietorship
  • Partnership
  • C Corporation
  • S Corporation
  • Limited Liability Company (LLC)
  • Limited Liability Partnership (LLP)

My intention is not to give you all the details but simply an overview so you will feel more confident soliciting the professional advice that you need for your specific situation.

Joshua

 

Sep 08, 2016
372-The Power of Cause and Effect: If you Want to Experience an Effect, You Must Initiate the Sequence of Causes That Lead to Its Outcome
40:47

Whatever begins to exist has a cause.

This fundamental truth governs much of your thinking. And yet, have you stopped to consider its application and how you can adjust this to your benefit?

The law of cause and effect is operational in your daily life. 

And yet, many people focus on the things they want (the effect) without every once stopping to think about how to get there! They don't think about the causes that are necessary to achieve a certain effect!

In today's show, I give you a series of very practical lines of inquiry into financial causes and effects. These ideas will help you to look at your own situation with a fresh vision and to create a customized plan that will help you go from where you are to where you want to be.

Joshua

Sep 06, 2016
Out & About: Everything Financial Radio Appearance with Dennis Tubbergen to Discuss Living a Rich Life
39:43

Hey Radicals!

Tough week this week and I'm behind on shows. My apologies!

I thought you might enjoy this recent interview I gave on Everything Financial Radio in Grand Rapids, Michigan.

The first part of the show is with Gerald Celente. My interview starts at 19:15.

Back soon,

Joshua

  • The original file is found here: http://www.everythingfinancialradio.com/2016/07/gerald-celente-and-joshua-sheats-join-host-dennis-tubbergen/
Sep 01, 2016
371-Should You Invest in Mobile Homes to Build Wealth in Real Estate? And If So, How? Interview with John Fedro from MobileHomeInvesting.net
44:49

Today's show is dedicated to the idea of mobile home investing. John Fedro stumbled into the mobile home investment business and has since made it his unique area of specialty.

Mobile homes have some unique characteristics that might make them an attractive investment class for you to consider. (After all, you can often buy an entire house for less than a new car!)

But they also carry some significant potential downsides.

Enjoy the education,

Joshua

 

Aug 30, 2016
370-Friday Q&A: Should I Take a State DB Pension Plan or Choose a Defined-Contribution Option, Why Do So Few People Grasp How Simple It Is to Become Wealthy, What Are the Next Steps I Should Take in Establishing My New Consulting Business
01:02:16

On Fridays, I host a live Q&A call! Today we cover:

  • Should I Take a State Defined-Benefit Pension Plan or Choose a Defined-Contribution Option?
  • Why Do So Few People Grasp How Simple It Is to Become Wealthy?
  • What Are the Next Steps I Should Take in Establishing My New Consulting Business

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

Enjoy!

Joshua

Aug 26, 2016
369-Don't Wait for Financial Independence to Enjoy and Plan for Financial Abundance
44:31

Ever since I sat down and designed my "Seven Stages of Financial Independence," I've been a bit bothered by Stage 7: Financial Abundance.

I inserted it at the end of the list because I think that's where it belongs. But I don't think you have to wait until you get through the stages to be able to enjoy a lifestyle of Financial Abundance. And I definitely don't think you should wait for later to start planning for Abundance.

So, what do you do?

Well, in today's show I do my best to lay out some ideas to point you in the right direction. 

Enjoy!

Aug 25, 2016
368-How to Establish, Build, and Utilize Your Business Credit: Interview with Ty Crandall from www.CreditSuite.com
49:29

Your personal credit and credit rating are an important component of your financial life. But did you know that you can also establish, build, and utilize an entirely separate credit file on your business?

My guest today, Ty Crandall, is an expert on both business credit and personal credit and he's here with me today to share with you some actionable strategies you can understand and implement to begin building your own personal business credit.

Enjoy!

Joshua

Aug 23, 2016
367-Discussing Social Security Tactics, Strategy, and Background with Financial Planner Devin Carroll from Social Security Intelligence
56:28

Today we tackle Social Security with Devin Carroll from www.SocialSecurityIntelligence.com 

Devin is a financial planner who has taken a special interest in consulting on the topic of social security.

In this show we cover some general background and advice for those who are trying to figure out how to approach their social security strategy as well as some interesting background on the social security program. (If you listen closely, you might even find an argument or two contained herein!)

Enjoy!

Joshua

Aug 16, 2016
366-Lessons Learned from Great Success and Great Failure in Multifamily Real Estate: Interview with Rod Khleif from the Lifetime Cashflow Podcast
45:20

My guest today has been from the lowest of lows to great heights of success. And then he repeated the cycle at least a time or two.

Rod Khleif has owned over 2,000 houses and apartments. He has made millions. And, he lost millions during the 2008 housing crash.

Today, he's come on the show to share the good and the bad from his experience. We cover technical details of real estate as well as many very important life lessons.

Enjoy!

Joshua

Aug 12, 2016
365-Tips to Hitchhike Europe (or Anywhere Else) on $40 a Week (with a Food Budget of $2 Per Day!) Interview with Philip Frey from Valiant Growth
01:08:54

Do you wish to set out and travel but feel like you lack the money? Well, what if you did it anyway and just adjusted your style of travel to fit a more modest budget?

My guest today is long-time listener of the show, Philip Frey. A few years ago he did exactly that.

He set out across Europe with a schoolmate and they managed to cobble together a very fun trip on a very modest budget!

In today's show we discuss Philip's experiences and advice for how to replicate a trip like his. 

I also share some of my tips and ideas for how I would approach a trip like this for myself.

Enjoy the show!

Joshua

Aug 11, 2016
364-The Laws of Wealth: Psychology and the Secret to Investing Success: Interview with Author Daniel Crosby
01:10:54

My guest today is Daniel Crosby. Daniel is a behavioral economist and he has applied his expertise to the question of investing.

One of the greatest challenges investors face is managing their own behavior. Daniel has studied this problem extensively and has formulated specific recommendations to help investors manage their psychology and manage their behavior.

Enjoy!

Joshua

Aug 09, 2016
The Power of Your Personal Philosophy: Audio from Jim Rohn
22:46

I tried as hard as I could to ship a financial planning show today, but it just didn't get done.

Oh well.

I don't always promise to release audio to you every day, but I didn't want to leave you hanging without something to listen to.

So enjoy 20 minutes of pure Jim Rohn gold.

Joshua

Aug 05, 2016
363-Combating the Effects of a Terminal Illness Diagnosis with Real Estate Prowess (and What's Better--Business or Real Estate?) Interview with Kathy Fettke from the Real Wealth Network
58:59

My guest today is Kathy Fettke. Kathy has a very interesting story of learning to invest in real estate during a time of personal crisis. She has since leveraged her experience to build a business related to real estate in addition to managing her own investments.

Enjoy!

Joshua

Aug 03, 2016
362-Making it Big in the USA as an Indian Immigrant: Interview with Manhar Patel
29:25

I'm fascinated with stories of immigrants to the United States. If you mentally put yourself in the shoes of an immigrant and then ask how you could become wealthy, even if you started with nothing, you have the opportunity to clarify the actions you can take which lead to wealth.

A listener to the show, Manhar Patel, emailed me and asked me if I was interested in his story. After a bit of back and forth, I invited him on the show to tell his story.

Manhar is an Indian immigrant to the United States who is working to build his fortune. Enjoy his story and take what you can learn from his tips and tricks and apply them to your life.

Joshua

Aug 02, 2016
361-The Power of If: If You Don't Like the Laws (Especially the Financial Laws), Avoid the Conditions that Cause You to be Subject to Them
40:44

The past few weeks have been a bit depressing for me due to the absurdity of national politics here in the United States.

I broke my personal rules of not getting involved with national politics and the results weren't pretty. I was thoroughly annoyed and saddened.

Until Sunday afternoon.

Which is when a young man in my neighborhood cheered me up by showing how it's possible for someone who wants something to get it, no matter what stands in the way.

On today's show, I share with you some thoughts on the power of choice which we all have. We have the power to choose what we do and when and how. 

Ultimately, the politicians don't have the power over our lives. We have the power over our lives based on our choices.

I cover some ways for you to build more freedom and independence (especially in the area of taxes) by understanding the laws that you're subject to and then simply avoiding the conditions of being subject to them!

Enjoy,

Joshua

Aug 01, 2016
360-Friday Q&A: Are Bonds Necessary for Good Asset Allocation, Traditional 401(k) or Roth IRA, How to Leverage Long-Term Travel for Career Advancement, What Kind of Retirement Plan to Put In Place at a NonProfit, How to Rebuild after Bankruptcy
01:15:28

On Fridays we do Q&A! 

  • Are Bonds Necessary for Good Asset Allocation
  • Traditional 401(k) or Roth IRA
  • How to Leverage Long-Term Travel for Career Advancement
  • What Kind of Retirement Plan to Put In Place at a NonProfit
  • How to Rebuild after Bankruptcy

If you'd like to get on a call like this, join as a patron! www.radicalpersonalfinance.com/patron 

Joshua

Jul 29, 2016
359-Save Money on Your Food Budget by Learning How to Cook at Home! Practical Advice from Ketura from FreeToCook.com
28:06

How much money do you spend eating out? How much money could you save simply by learning to cook for yourself?

My guest today is Ketura from www.FreeToCook.com and she's here to share her personal experiences in learning to cook from home to improve her family's budget.

Enjoy!

Joshua

Jul 28, 2016
358-Taxation of Disability Insurance, Can I Get Disability Payments for Pregnancy, Types of Policies Such as Business Overhead Expense Insurance, Disability Buy-Out Policies, Guaranteed Issue Plans, and More!
01:12:12

Today we round out the 4-part disability series with:

  • A wrap-up of some key concepts
  • Taxation of disability insurance premiums
  • Various types of disability insurance policies
  • Pregnancy and disability insurance
  • Q&A from the audience

Enjoy!

Joshua

Jul 27, 2016
357-Taming the High Cost of College: Understanding the Landscape of College Tuition, Financial Aid, Loans, and Your Choices with Brad Baldridge
01:19:46

College and all of its associated costs can make a big difference in your financial situation. 

Today, I've invited Brad Baldridge on the show to discuss the college planning process and the background to many of the financial decisions.

I think you'll enjoy the interview. Be sure to stay tuned for the second half where we pull apart some strategies for making the student aid forms work to your favor.

Enjoy!

Joshua

Jul 26, 2016
356-Your Next Car Should be a Minivan. Here's Why!
50:12

Minivans get a bad rap in our modern culture. They're the brunt of endless jokes and I want to see that change.

For some reason people think that minivans are suitable only for parents with kids.

They certainly are great for that--far, far better than an SUV--but that's not all.

I think a minivan is pretty much the perfect vehicle for everyone at every stage of life.

Yes, that's a big claim. But I really, really do think they're great.

Today, I do my best to convince you to join me in the land of the enlightened.

:)

Joshua

 

Jul 25, 2016
355-How to Build a Plan for Financial Freedom in 10 Years or Less
57:01

The tagline I created for Radical Personal Finance is this: "...the show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less."

Little by little I've been breaking this down for you and today we tackle the "financial freedom in 10 years or less" part.

I believe that, no matter where you're starting from or what your current financial condition, you can build a plan to achieve financial freedom in 10 years or less. And, in today's show, I defend that statement to you.

Enjoy,

Joshua

Jul 01, 2016
354-Disability Insurance: Benefit Amounts, Needs Analysis, Group vs. Individual, Definitions of Disability (Own Occ vs. Any Occ), Policy Provisions (Total Disability, Partial, etc.) and More!
55:06

Today we continue our disability insurance series with a discussion of:

  • How to determine the benefit amount of an individual disability insurance policy
  • The interaction of group disability insurance and individual disability insurance
  • The definition of disability (own occupation, modified own occupation, any occupation)
  • How is disability determined (loss of time, duties, income)
  • Total disability vs. partial disability vs. presumptive total disability.

Enjoy!

Joshua

Jun 30, 2016
353-How to Get Out of Debt Fast By Driving A Truck (And Build a Freedom Fund!): Interview With Ben and Deb Martinek
56:41

Often very large financial goals can be achieved in a relatively short period of time if you focus enough on the goal and execute a plan with intense action.

Today, I bring you the story and experience of a couple who did just that. Ben and Deb Martinek decided to become over-the-road truck drivers so that they could pay off their student loans in a very short period of time.

They succeeded in paying off about $100,000 in debt in 2.5 years by driving a truck. And they had a great time doing it!

Today we hear their story and ideas on how you can do something similar for yourself.

Joshua

Jun 28, 2016
352-Friday Q&A: Should I Purchase My Personal House in an LLC, How do I Know if My Life Insurance Agent is Advising the Right Amount
40:34

On Fridays we do a live Q&A show here at Radical Personal Finance. If you'd like access to these calls, join here: www.RadicalPersonalFinance.com/patron 

Today we cover:

  • Should I Purchase My Personal House in an LLC?
  • How do I Know if My Life Insurance Agent is Advising the Right Amount of Insurance to Own?

Enjoy the show!

Joshua

Jun 24, 2016
351-How to Live a Rich Life Now (pt. 2): Most Material Riches Are Easily Accessible to You Today
01:00:08

Today, we continue our series on "Living a Rich Life Now" by discussing material riches and how you can appreciate the ones you already have and enjoy more more material riches now, without waiting.

Most people equate riches with things they have yet to buy. Largely, this is due to an effective marketing campaign by somebody with something to sell.

But, many of us easily forget about all of the material riches we already enjoy.

And, we neglect the easy ways we can live a rich life--perhaps even the lifestyle of a multi-millionaire--without the need to actually become a multi-millionaire.

This show contains some of my ideas which will, I hope, provoke you to clarify your own definition of a rich life and start living it as quickly as possible!

Joshua

Jun 23, 2016
350-How to Live a Rich Life Now: The Immaterial Attributes of Riches That You Can Control Today
45:14

Radical Personal Finance is "a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now while building a plan for financial freedom in 10 years or less."

That's the slogan that I came up with as the unifying theme after creating about 300 episodes of the show.

But, although I've been using this slogan for a while, I've never actually explained each of the statements in that slogan. And they're all important.

Today, I tackle the first part: What does it mean to live a rich life now?

There are immaterial aspects to a rich life and there are also material aspects to riches.

Today we tackle the immaterial.

Enjoy!

Joshua

Jun 21, 2016
349-Want to Get Rich and Live a Comfortable Life? You Should Seriously Consider Being a Doctor as Your Path! Interview with Peter Steinberg
01:07:34

I've previously stated that I don't understand why anyone would go into the field of medicine as a way of getting rich.

I understand why people would want to do it because it fits their goals and personality and sense of calling, but I've always felt that it's a bad move financially.

Even though you can earn a high income, there are a lot of disadvantages to the career!

Well, my guest on today's show disagrees with me!

He's a practicing physician and he thinks I'm dramatically misrepresenting the financial potential and payoff of medicine.

I think you'll enjoy our debate!

Joshua

Jun 17, 2016
348-Think You've Got it Tough? This Show Will Make You Grateful for Your Abundant Opportunities. I Promise!
0

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 

Jun 14, 2016
347-Disasters Happen: Make a Plan Now to Ensure You Have Plenty of Money Available to You to Solve the Problems Money Can Solve
56:27

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

Jun 13, 2016
346-Real Estate Entity Selection & Estate Planning (With a NYC Slant): Interview with Real Estate and Estate Planning Attorney Jules Haas
01:02:13

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

Jun 10, 2016
345-"Cashing in Tax Free: Your Ultimate Guide to a Tax-Free Retirement Using 1031 Exchange and Delaware Statutory Trusts" Interview with Author Leslie Pappas
54:35

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

Jun 08, 2016
344-How to Go From Broke to Comfortable With a Single Move! (And What is a Junior IRA?): Interview with Mr. and Mrs. Groovy from FreedomIsGroovy.com
59:59

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

Jun 06, 2016
343-Friday Q&A: When Should My Wife Take Social Security, Should I Buy Term Life Insurance as an Investment?
31:31

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

Jun 03, 2016
342-How to Make a Fortune (or Build a Lifestyle Business) Selling Stuff on Amazon: Interview with Brad DeGraw
47:30

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

Jun 01, 2016
341-Odds On: The Making of an Evidence-Based Investor, Interview with Author and Financial Advisor Matt Hall
01:16:31

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

 

May 31, 2016
340-Friday Q&A: 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
48:37

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

May 27, 2016
339-Long-Term Disability vs Short-Term Disability, Benefit Period, Elimination Period, Noncancellable vs. Guaranteed Renewable Continuance Provisions
44:34

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

May 26, 2016
338-Negotiating a Better Work Arrangement for Greater Personal Happiness: Interview with Jeff, the Happy Philosopher
01:19:04

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

May 25, 2016
337-Why You Should Buy Disability Insurance Before Any Other Type of Insurance Coverage
50:17

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

May 24, 2016
336-Friday Q&A: Advice on Starting an Experts Business, How to Transition from a Stable Career to Unstable Entrepreneurship, Joshua's Thoughts on the Banking System, How to Become a Better Salesperson
01:03:08

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

May 20, 2016
335-My New Consulting Business...And Yours Too!
25:24

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

May 20, 2016
334-How & Why to Go Independent as a Financial Advisor: Interview with Financial Advisor Sean Kernan
01:32:33

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

May 18, 2016
333-Q&A: 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
01:15:58

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

May 16, 2016
332-Q&A: 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
55:23

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

May 11, 2016
331-Financial Independence with Real Estate Starting With No Money! Interview with Chad Carson
49:16

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!

May 10, 2016
330-How to Live Super Cheap and Earn Your Income Selling Stuff Online! Interview with Nate Dodson
33:40

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

May 05, 2016
329-Boost Your Investment Returns with Marketplace Lending: Interview on Current Opportunities with Peter Renton, Founder of Lend Academy and the LendIt Conference
01:16:32

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

May 02, 2016
328-Friday Q&A: the Language of Marginal Tax Deductions, Volunteering as an Income Tax Preparer for Low Income People, and Are Cash Value Life Insurance Policies a Good Place for an Emergency Fund
30:15

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

Apr 29, 2016
327-How to Save Money on Medical Expenses Without Accidentally Killing Yourself From Foolish Decisions: Interview with Dr. Mohammad Ashori
01:15:26

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

Apr 27, 2016
326-An Immigrant's Path to Entrepreneurship: Lessons Learned with Dan Lok
01:15:00

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

Apr 26, 2016
325-How to Invest in Guns for Maximum Profit and Diversification: Interview with James Wesley, Rawles from SurvivalBlog.com
01:19:25

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

Apr 25, 2016
324-Friday Q&A: 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
58:22

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 

Apr 22, 2016
323-How to Teach Your 8-Year-Old To Earn with Job Skills, Build Businesses, and Invest Wisely
49:06

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

Apr 21, 2016
322-How This Teacher Has Gone from Deep in Student Loan Debt to Financially Independent by Age 40: Interview with Nicole Bryan
52:08

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

Apr 20, 2016
321-The Trend Following Investment Strategy (and What It's Like to Build Your Own Investment Management Firm from Scratch) with Michael Melissinos
01:17:05

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

Apr 18, 2016
320: Breaking all the Rules to Succeed in Podcasting: Recording of My Speech to the South Florida Podcasting Meetup Group
55:03

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.

Apr 15, 2016
Out and About: Control the Risk of Failure with Joshua Sheats - Youversation Episode 035
43:21

(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
Apr 14, 2016
Out & About: Sales From The Street-"Shh, Just Listen Man" The Sales Evangelist Episode#224
21:36

(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.

Apr 13, 2016
Out & About: Self-Education Plan Review with Joshua Sheats (Anarcho-Yakitalism Podcast Ep.62 )
01:04:03

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

Apr 12, 2016
Out and About: Investing to BE Dave Ramsey (with Joshua Sheats) - Stacking Benjamins
01:11:14

(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.

Apr 11, 2016
RPF is on Spring Break!
01:25

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

Apr 05, 2016
319-Friday Q&A: Should I Switch from Employment to Self-Employment to Save Money, How do I Decide Between Model Portfolio Asset Allocations
40:19

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

Apr 01, 2016
318-How to Get the Best Possible Mortgage: Advice from Casey Fleming, Author of "The Loan Guide"
52:15

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

Mar 31, 2016
317-Living in a Bus and a Tiny House With 7 Kids! Interview with Shane and Julie Good from www.GoodNewsBus.com
01:00:54

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

Mar 30, 2016
316-Friday Q&A: Should I Stay At A Job to Get Student Loan Forgiveness, When is the Ideal Age to Buy a Single Premium Immediate Annuity
46:27

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

Mar 25, 2016
315-Is Mortgage Acceleration (Replacing Your Traditional Mortgage with a HELOC) Really a Good Idea? Interview with Bill Westrom from www.TruthInEquity.com
01:36:24

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

Mar 24, 2016
314-How You Can Get More Money For Early Retirement By Using an IRA or 401(k) Even if You Have to Pay the 10% Penalty!
49:31

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

Mar 24, 2016
313-unWorking: Exit the Rat Race, Live Like a Millionaire, And Be Happy Now: Interview with Author Clark Vandeventer
01:03:41

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

Mar 23, 2016
312-Q&A: What's It Actually Like to Start a Career as a Financial Advisor with a Big Insurance Company? My Own Experiences from the Trenches!
01:15:52

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

Mar 22, 2016
311-Friday Q&A: 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
56:41

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 

Mar 18, 2016
310-From a Plumber's Assistant in a Rural Farm Town to a Wealthy Businessman: Interview with Warren Prescott, One of My Former Bosses!
53:46

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

 

Mar 17, 2016
309-Practical and Actionable Advice for How You Should Respond to Doomsday Financial Predictions and Warnings in a Rational and Intelligent Manner
01:00:00

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

Mar 16, 2016
308-Charitable Giving Strategies to Maximize Your Lifestyle and Your Impact: Interview with Patrick Renn, author of "Finding Your Money's Greater Purpose"
01:02:45

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

 

Mar 15, 2016
307-Friday Q&A: 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!
01:07:44

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

Mar 14, 2016
306-Interview with Robert Kiyosaki: the Life, Career, & Predictions of the Man Behind the Best-Selling Personal Finance Book of all Time (Rich Dad, Poor Dad)
01:01:57

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

Mar 11, 2016
305-Mortgage Credit Certificates: The Coolest Mortgage Interest Credit You've Never Heard Of
36:11

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

 

Mar 10, 2016
304-Friday Q&A: The Value of Full-Time Mothers and Fathers as Compared to Full-Time Wage Earners
01:01:39

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

Mar 04, 2016
303-Roth IRA vs. Traditional: Which One Pays Less Taxes?
18:32

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

Mar 03, 2016
Announcement re: Email: If You've Ever Emailed Me and Didn't Get a Personal Response, Please Try Again
03:42

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

Mar 02, 2016
302-Q&A: I Make $200k/yr. and I'm 30 Years Old and Single. And I'm Miserable. Please Help!
54:00

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

Mar 02, 2016
301-Careers, Entrepreneurship, and Raising Entrepreneurial Kids: Interview with Dan Miller from 48 Days to the Work You Love
51:04

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 

Feb 25, 2016
300-Thirty Podcasting Lessons Learned From 300 Episodes and 2,000,000+ Downloads
01:35:45

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

Feb 25, 2016
299-The Philosophy of Modern Survivalism and Permaculture as Applied to Financial Planning: Interview with Jack Spirko, Host of The Survival Podcast
01:29:39

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

Feb 22, 2016
298-Friday Q&A: How to Practice Stealth Wealth, How to Locate Assets in a Tax Efficient Manner, Refinancing a HELOC to an Amortizing Loan, and How My Wife and I Handle Day-to-Day Money
59:13

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

Feb 19, 2016
Meet Up With Me in Nashville, TN Next Week 2-22 to 2-25.mp3
0

 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

Feb 19, 2016
297-From Writing About Personal Finance To Becoming Financially Independent: Lessons Learned with Jim Wang, Founder of Bargaineering and Wallet Hacks
01:08:31

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

Feb 19, 2016
296-The Collapse of MF Global, Breakdown of Trust in the Financial Systems, the Prospect of Global War, and What It's Like to Be a Tax Protester on the Lam: Interview with Ann Barnhardt
01:32:06

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

Feb 18, 2016
295-You Don't Know What to Do Simply Because You Don't Yet Know What You Want
21:51

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

Feb 15, 2016
294-Friday Q&A: Liability Insurance, Life Insurance for a Stay-At-Home Mom, Real Estate Financing and Entities, And More!
01:09:16

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

Feb 15, 2016
292-Personal Branding and Marketing, Entrepreneurship, and Lifestyle Design as CEO of a Company: Interview with David Hancock, CEO of Morgan James Publishing
49:48

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

Feb 10, 2016
291-Friday Q&A: Real Estate, How Much Money is Too Much in Qualified Accounts, Bank on Yourself and Infinite Banking, Stocks vs Bonds
01:06:26

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

Feb 05, 2016
290-Stop Chasing Influencers: The True Path To Building Your Business and Living Your Dream: Interview with Co-Author Kimanzi Constable
48:53

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

Feb 04, 2016
289-The Impact of Your Behavior on Your Financial Results: Interview with Carl Richards, author of The Behavior Gap and The One Page Financial Plan
01:08:15

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

Feb 03, 2016
288-A Perfect Buy vs. Rent Case Study and Analysis
35:46

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

Feb 02, 2016
287-Drive for Free by Fueling Your Car with Wood: Interview with Chris Saenz and Wayne Keith from DriveOnWood.com
35:19

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

Jan 28, 2016
286-My Review of the "Building Wealth One House at a Time" Seminar by John Schaub
48:27

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

Jan 28, 2016
285-What Does Financial Fraud Smell Like?
55:00

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

Jan 26, 2016
284-Job Free: Four Ways to Quit the Rat Race and Achieve Financial Freedom on Your Terms-Interview with Jake DeSyllas
01:12:18

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

 

Jan 25, 2016
283-Nine Benefits of Having a Job!
36:36

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

Jan 22, 2016
282-How to Effectively Handle Money Together as Husband and Wife: Interview with Talaat and Tai from His and Her Money
43:37

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

Jan 19, 2016
281-Why I've Chosen to Invest in Real Estate
01:04:44

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

Jan 18, 2016
280-Making the Transition to Retirement: Interview with Fritz Gilbert from The Retirement Manifesto
01:05:18

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

Jan 15, 2016
279-Get Paid To Adventure Travel the World With Your Family and Still Save a Ton of Money! Interview with Sara Miner
46:37

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

Jan 13, 2016
278-What Do You Do When You're Trapped in an Upside Down Car Loan?
29:38

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

Jan 12, 2016
277-Early Retirement FAQs: How Do I Plan For Inflation? Interview with Joe, AKA. Arebelspy (who just retired at 30 on a schoolteacher's salary)
01:33:02

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

Jan 08, 2016
276-Why This Financial Planner Refuses to Save Money for His Kids' College
01:02:09

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

Jan 07, 2016
275-Selecting a Brokerage Company for Your Stock Ownership & Trading: Intro to Our New Sponsor TradeKing
0

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
Jan 05, 2016
274-You Can Become and Stay Wealthy If You Focus On Systematically Developing and Perfecting the Simple Skills of Wealth
0

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

Jan 04, 2016
A Brief Christmas Card from Me to You
17:33

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

Dec 18, 2015
273-Three Budgets You Should Establish for 2016: Time, Money, and Food
01:05:27

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

Dec 17, 2015
272-A Proven Strategy to Increase Your Income in the Next Year
52:04

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:

 

Dec 15, 2015
271-Achieving Financial Independence at a Crazy Young Age! Interview with Mike and Lauren from www.MikeAndLauren.com
01:00:09

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

Dec 11, 2015
270-Myths & Facts: 9 Things I Used to Believe (and Teach) About Home Ownership That I No Longer Believe
01:03:27

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

Dec 09, 2015
269-Why We Sold Our House and Moved Into a Rental Apartment!
01:04:12

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

Dec 09, 2015
268-Training Your Kids for Financial Responsibility: Interview with Rocky Lalvani from Richer Soul
01:04:40

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

Dec 04, 2015
267-Automate your Spreadsheets and Simplify Your Accounting with Tiller: Interview with Peter Polson
58:10

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

 

Dec 02, 2015
266-Financial Independence in Your 20s Without Missing a Party! Interview with Martin Dasko from Studenomics
43:54

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

Nov 25, 2015
265-Why Passive Investing and Index Funds are the Only Right Way to Invest: Interview with Rick Ferri from Portfolio Solutions
55:26

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

Nov 24, 2015
264-How to Cut the Interest Rates on Your Student Loans by Refinancing with Sofi: Interview with Dan Macklin, Co-Founder of Sofi
47:51

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

Nov 24, 2015
263-Q&A: Recording of the Live Patron Q&A Conference Call
01:01:49

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

Nov 21, 2015
262-How Risky is Your Income? Applying the Concepts of Diversification to Wages and Profits
40:06

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

Nov 19, 2015
261-Getting Rich with Real Estate...and Then Getting Richer With Business! Interview with Josh Dorkin, Founder of Bigger Pockets
01:03:20

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

Nov 17, 2015
260-An Introduction to Trusts in the Context of Estate Planning
40:09

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

 

Nov 16, 2015
259-What's It Like To Actually Hit Financial Independence at a Shockingly Young Age? Interview with Brandon (the Mad Fientist) and Jill
58:17

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

Nov 13, 2015
258-Do You Have Student Loans? Here's What You Need to Do! Interview with Attorney Jay Fleischman, Host of the Student Loan Show
01:15:47

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

Nov 10, 2015
257-The Four Major Estate Planning Documents that Everybody Needs: a Will, a Living Will, a Medical Power of Attorney, and a Durable Power of Attorney
33:58

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

 

Nov 06, 2015
256-Escaping a Lifestyle of Drudgery for a Lifestyle of Freedom as an Itinerant Writer: Interview with Jeff Goins, Writer
52:34

Many of us are focused on the primary goal of transitioning from work that doesn't suit us to work that does. After all, if we can solve the work conundrum, our lifestyle can be massively improved even if we're not yet rich!

My guest today is Jeff Goins and he has blazed the trail ahead of us and has successfully made the transition to a career he loves.

Even better, he's written a book on how you can do the same thing!

Enjoy the interview and the learning!

Joshua

  • Jeff's site: www.GoinsWriter.com 
  • Jeff's new book, "The Art of Work: A Proven Path to Discovering What You Were Meant to Do" http://rpf.link/1NuuFzu
  • Interested in writing a book? Connect with my personal publishing coach, Patrick Snow, and chop months off of your learning! Browse his information at www.ThePublishingCoach.com  or text him at 206-310-1200 for a complimentary 30-60 minute consultation.
  • If you're going to transition from a steady paycheck to work you love, you must be the master of your budget! Start by using the YNAB software. Get a free 30-day trial here: www.RadicalPersonalFinance.com/YNAB
  • Support Radical Personal Finance on Patreon! www.RadicalPersonalFinance.com/Patron
Nov 05, 2015
255-How To Decide if You Should Repair Your Car or Replace It
38:55

It happens to so many people: your car breaks down at an inconvenient time and you're facing a massive repair bill. The stress starts to mount and you find yourself wondering--should I just go out and buy a new one?

Or, sometimes worse, you feel like every other week you're flushing money down the drain to fix your car and you're getting tired of it. Feeling totally frustrated, you're tempted to trot out and assuage the headache with a new car.

Should you do it?

How should you try to assess your options and make the decision?

That's the question I tackle in today's show. 

Listen in and let me know what you think!

Joshua

Nov 04, 2015
254-Get Rich Slowly and then Get Rich Fast: Interview with JD Roth, the Godfather of Financial Blogging
01:16:08

I had the opportunity to connect with JD Roth, one of the most well-known personal finance bloggers in the industry while I was in Charlotte, NC at #FinCon15.

We had a great interview. 

We talked in detail about JD's personal story with finance and how he set out to Get Rich Slowly--and wound up getting rich fast.

We also talk about the great things and not-so-great things that resulted from the journey!

Enjoy the interview!

Joshua

Nov 02, 2015
253-Q&A: Recording of the Live Patron Q&A Conference Call
01:53:15

Today I'm sharing with you the audio from the live conference call I recently hosted for all the Patrons of Radical Personal Finance. 

This was a super-fun experience for me! Having the live interaction was fun. Topics included:

  • social capital
  • entrepreneurship
  • long-term care insurance
  • investing
  • career development
  • and more!

Enjoy!

Joshua

Oct 27, 2015
Out & About: "Radical Thoughts on Life Insurance" (Joshua's Appearance on Martinis and Your Money with Shannon McLay)
01:21:29

Shannon McLay from the "Martinis and Your Money" podcast invited me on her show last month to talk about life insurance as part of "Life Insurance Awareness" month.

Enjoy this interview with me where I share all of my advice and thoughts about how to approach the life insurance situation.

The original interview with Shannon appears on her site here: http://financially-blonde.com/radical-thoughts-on-life-insurance/

Joshua

Oct 26, 2015
252-Market Yourself with the World's Greatest Marketing Tool: Your Own Book! An Interview with Patrick Snow, the Publishing Doctor
01:03:43

Have you ever thought about writing a book? If you have, you're part of the 80% of Americans that dream of doing just that!

But how do you go about it? And, perhaps more importantly, why should you consider it?

Today I present to you an interview with my personal publishing coach, Patrick Snow.

Patrick is an international best-selling author, professional speaker, publishing, speaking, and book marketing coach.

He's already been tremendously helpful to me as I work on my first book and I look forward to continuing to work with him!

Enjoy this episode where we talk about the business of writing and why you should write and publish a book.

Enjoy!

Joshua

Oct 22, 2015
251: Annuities: An Intoduction to the Types and Uses of Annuities
01:21:18

Let's put our work boots on today and dig into some of the science of financial planning. We've been doing a lot of fluffy, motivational-type stuff on Radical Personal Finance recently. That stuff is really valuable but it needs to be tempered with some serious knowledge.

Today, let's talk about annuities.

Annuities get a bad rap in the financial marketplace. And rightly so. They've been shamefully misrepresented, oversold, and abused by many insurance agents.

But do they have a place? Can they be an incredibly useful tool in the toolbelt of a good financial planner?

I believe so.

In today's show I work to share with you some background and structure about annuities. This will help you to understand the words involved and the different product structures available.

We talk about:

  • The number of lives covered (single life vs joint life vs joint-and-survivor annuities)
  • When the payments start (immediate vs. deferred)
  • Methods of premium payment (lump sums vs. periodic payments)
  • Pure/straight life vs. refund annuities 
  • Fixed vs. variable vs. indexed annuities
  • And tons more!

Enjoy the show!

Joshua

Oct 20, 2015
250-How the Wisdom of Chess Can Make You a Grandmaster of Investing: Interview with Douglas Goldstein, author of Rich as a King
01:31:25

We've generally been trained how to think about finance by the financial services industry. Their plan for your finances? Well, each step involves a financial product of some sort or another.

But what if we think a little more strategically? Could we get better results?

I think so.

After speaking with today's guest, Doug Goldstein, I think that the metaphor of chess is a good way to train our thinking.

Doug is the co-author of a book titled: Rich as a King: How the Wisdom of Chess Can Make You a Grandmaster of Investing.

Enjoy this interview as we discuss how to approach finances like a chess game!

Joshua

Links:

Oct 19, 2015
249-How Dual-Income, High-Earning Couples can Lower Their Income Taxes
01:06:48

One of the benefits that $200/mo. Patrons of Radical Personal Finance get is being able to choose a topic of the show.

Here's the note that prompted today's episode:

Joshua,

Double income medium- to high-earning couples frequently ask me how to lower their taxes (the second income is at a higher rate of >28%, plus state 3.75% and social security 7.65 or 40% all in).

I don't have a lot to tell them:
-calculate whether it's worth it for second spouse to work ('Money or Your Life' style-after tax/child care/gas income per hour of total time spent at job (commuting and working)
-weigh the qualitative factors
-max 401k
-invest in real estate

I'm assuming I'm missing things. What do you have to say on the subject?

One reason my wife doesn't work is that its not worth it.

Thanks,

Patron

Today's episode includes my response and advice for how couples can approach this conundrum!

Joshua

Oct 14, 2015
248-One Great Way to Start Your Search For a Financial Advisor: Interview with Jack Waymire, Founder of the Paladin Registry
01:18:07

The most challenging question that I get asked on Radical Personal Finance is this: "Joshua, how do I find a great financial advisor?" 

It's hard because there are great advisors at most (all?) firms and there are terrible advisors at most (all?) firms.

More importantly, there are different advisors for different stages of life and different levels of need.

Unfortunately, all these get lumped together under the term "financial advisor," which is, itself, a non-specific and mostly useless term which could refer to any number of job descriptions.

However, I still try to answer the question. And today, I'm working to answer it with a new sponsor: Paladin Registry. 

This show is an interview with Jack Waymire, the founder of Paladin Registry and it contains an in-depth interview discussing the challenges and process of finding a great financial advisor.

Enjoy the show!

Joshua

Oct 06, 2015
247-Friday Q&A: Online Savings Accounts, Commission-Free Life Insurance, Why Don't I Have a CIMA Designation, Would I Do A Daily Podcast Again, Should I Max My 403(b) or Save for a Down Payment, 529 Plan for Myself, and Thoughts on Leveraged Index Funds
51:00

After a way-too-long hiatus, Friday Q&A is back! On today's show, we cover:

  • Online Savings Accounts
  • Commission-Free Life Insurance
  • Why Don't I Have a CIMA Designation
  • Would I Do A Daily Podcast Again
  • Should I Max My 403(b) or Save for a Down Payment
  • 529 Plan for Myself, and Thoughts on Leveraged Index Funds

Enjoy!

Joshua

Oct 02, 2015
246-You Need a Budget and Here's the Best Way for You to Make One! Interview with Jesse Mecham, Founder of YNAB
58:27

Sometimes you discover something that's been out there for years and you want to smack yourself in the head for not tuning in to it sooner. That's how I feel when it comes to YNAB. (For the uninitiated YNAB stands for You Need A Budget.)

I used YNAB years ago and my response at that time was, "ho-hum." I then proceeded to ignore it for the next 6 years to my own detriment. Bummer. I wish I'd paid more attention!

I was reintroduced to YNAB by my own listeners (the full story is in this episode) and today I'm thrilled to introduce YNAB as a sponsor of Radical Personal Finance!

Check out this interview with Jesse Mecham, the founder of YNAB for an introduction to him, his story, and the YNAB company. It's a super interesting story of entrepreneurship, growth, and the creation of an awesome product which fits a real need that most of us have.

Enjoy!

Joshua

Oct 02, 2015
245-Achieving Financial Freedom With Hard Work and a Good Plan! Interview with Scott Alan Turner, a Financial Rock Star
27:15

I love to talk with people who have achieved financial independence. But I especially love to talk to those financially independent people who have achieved it in a very accessible way!

Frankly, it's hard to relate to a tech titan who sells their latest greatest app company for a billion dollars.

But I can relate to someone who has simply worked hard, saved aggressively, invested conservatively, built an entrepreneurial side hustle and achieved their results over time!

My guest today is Scott Alan Turner and he's done exactly that. Sit back, relax, and enjoy his story! And make sure to take special note of how you can copy and model him and  his success.

Enjoy!

Joshua

Sep 25, 2015
244-Vending Machines as a Path to Wealth and Passive Income: Interview with Matt Miller from School Spirit Vending
55:30

When I was younger my brothers and I spent lots of time talking about how to make our millions of dollars with passive income. Two businesses seem to be prominent when you go down that line of thinking as a young person: car washes and vending machines.

We didn't pursue either of those businesses. But much later I did wind up working with some clients who had a vending business. And I was intrigued by their business.

My guest today is a vending expert. Matt Miller started his vending business the hard way and built it slowly.

Over time, he wound up finding a new niche for his vending products: stickers.

He's since gone on to create a franchise to teach others how to do what he has done.

Enjoy his wisdom, experience, and insight!

Joshua

Sep 24, 2015
243-Mastering the Art of Charm so You Can Navigate More Easily Through Life: Interview with Jordan Harbinger, Co-Founder of The Art of Charm
48:25

Interpersonal skills of relationship are a huge deal and your mastery of them will massively impact your level of success in life.

All else being equal, people would rather do business with people they know, like, and trust.

All else NOT being equal, people would STILL rather do business with people they know, like, and trust!

So, this is an area that we should give attention to.

My guest today has devoted years to studying, mastering, and teaching interpersonal skills.

Jordan Harbinger is the co-founder of the highly successful Art of Charm. I caught up with him at Podcast Movement 2015 and invited him on the show to share some lessons with us.

He delivered.

Enjoy the interview!

Joshua

Sep 23, 2015
242-One Bed, One Bank Account: Interview with Derek Olsen from Better Conversations on Money and Marriage with Derek & Carrie Olsen
01:10:45

Money in marriage is an extremely challenging area of life. Researchers often say that money fights and money problems is the number one cause of marital stress.

My guest today is Derek Olsen. He and his wife Carrie have written a book called "One Bed, One Bank Account: Better Conversations on Marriage and Money."

I was able to catch up with him at Podcast Movement 2015 where we dug into the major questions of how to handle money together.

Make sure to stay tuned at the end of the episode. There's a 30-minute bonus episode on the radical lifestyle that they are living!

Joshua

Links:

Sep 22, 2015
241-Setting and Achieving Financial Goals: Interview with Casey Lewis
47:55

I had the opportunity to sit down with Casey Lewis while I was in Fort Worth, Texas a couple months ago.

Casey has worked his way through his own money transformation and he has a lot of experience and wisdom to share about the process.

Along the way, we discuss:

  • Debt freedom
  • Goal setting and goal achievement
  • Personal financial management
  • And more!

Enjoy!

Joshua

 

Sep 21, 2015
240-From the Mail Room to CEO of a Trading Company: Interview with Don Montanaro, CEO of TradeKing (Live Show from #FinCon15!)
51:07

I'm here at #FinCon15 in Charlotte, NC this week and I had the privelege of interviewing Don Montanaro, the CEO (and co-founder) of TradeKing!

We recorded this episode live on the #FinCon15 podcasting stage on September 18, 2015.

We cover the details of:

  • Don's career progression from the mail room to CEO
  • What makes a difference in how quickly an employee gets promoted
  • How the securities market works
  • And way more!

Enjoy!

Joshua

Sep 20, 2015
239-Making a Bundle of Cash by Marketing Physical Products: Interview with Andreea Ayers from Launch Grow Joy
37:14

It might seem like the only way to make money in today's world is to create and sell a digital product. It's not. Frankly, the physical product world is probably much less crowded than the digital world!

My guest today is Andreea Ayers. She is awesome.

She created a business that made and sold yoga-themed tshirts. Then, she created a business that sold soaps.

Now, she's taken her success and experience with her own brands and turned it into a consulting business where she helps others to duplicate her success.

It's a super fun interview.

Enjoy!

Joshua

Links:

Sep 18, 2015
238-What's Different About Giving Financial Advice to Gen X&Y vs Everybody Else: Interview with Katie Brewer, From Your Richest Life
49:40