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ChooseFI

ChooseFI

Written by: ChooseFI
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 How would your life change if you reached Financial Independence and got to the point where working is optional? What actions can you take today to make that not just possible but probable. Jonathan & Brad explore the tactics that the FI community uses to reclaim decades of their lives. They discuss reducing expenses, crushing debt, tax optimization, building passive income streams through online businesses and real estate and how to travel the world for free. Every episode is packed with actionable tips and no topic is too big or small as long as it speeds up the process of reaching financial independence.© 2019-2023 Choose FI. All Rights Reserved. Disclaimer: The information contained in this podcast is for general information purposes only. In no event will we be liable for any loss or damage derived from the information provided. Careers Economics Personal Finance Personal Success
Episodes
  • The Detour is the Journey | Ep 583

    The Detour is the Journey | Ep 583
    Jan 26 2026

    Brad and Jonathan continue unpacking *incremental gains* — the small, tactical decisions that compound into financial independence.
    This conversation moves quickly through **core FI math, expense optimization, retirement accounts, and tax strategy**, showing how flexibility, optionality, and understanding the rules of the game can radically change your long-term outcomes.

    Retirement Accounts: The Rules That Matter 401(k): Always Take the Match
    • Employer match = free money
    • Declining it = turning down part of your salary
    Pre-Tax Accounts Are Often Better for FI Account Benefit Traditional 401(k) Lowers taxable income today Traditional IRA Tax deduction now 457(b) Penalty-free access after separation

    📌 Roth accounts are not automatically better for FI seekers.

    Tax Strategy (This Is Where FI Wins) Marginal vs Effective Tax Rates Term Meaning Marginal Rate on your last dollar Effective Total tax ÷ total income

    Optimize for effective tax rate — not marginal.

    The Real Goal: Lifetime Tax Optimization
    • Not just this year's tax bill
    • Think across decades
    • Flexibility > certainty
    0% Federal Capital Gains (Huge)

    • Long-term capital gains can be taxed at 0%

    • Especially powerful in early retirement

    Tax-Gain Harvesting
    • Sell appreciated assets in low-income years
    • Reset cost basis without paying federal tax
    Optionality Is the Real Asset

    Lower fixed expenses create:

    • Tax flexibility
    • Career flexibility
    • Location flexibility
    • Lifestyle flexibility

    Paid-off house + paid-off cars + low baseline spending = stealth wealth

    Essential Listening & Resources Topic Resource Frugality fundamentals Episode 12 Free money & 457(b) Episode 13 Capital gains strategy Episode 517 Community platform LOGIN Take One Action This Week
    • Calculate your FI number
    • Do a mini expense audit
    • Check if you're getting your full 401(k) match
    • Visit your local library
    Be Part of the Show

    • Log in at choosefi.com/login LOGIN

    • Leave feedback on this episode

    • Share:

      • Your "aha" moment
      • A tactic you're trying
      • A question you want explored
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    1 hr and 1 min
  • Incremental Gains

    Incremental Gains
    Jan 19 2026

    Jonathan and Brad explore the infinite possibilities within the financial independence community by discussing the concept of Incremental Gains.

    Key Topics Discussed

    • Introduction to Incremental Gains (00:00:00)

      • An overview of the episode's aim to introduce innovative ideas within the financial independence community.

    • What is a Red X Month? (00:02:05)

      • A red X month is a designated period for relaxation and reflection, allowing individuals to step back from their regular commitments.

    • Mindset and Incremental Gains (00:05:05)

      • Importance of having the right mindset in achieving financial independence.

    • Importance of Time and Journey (00:07:21)

      • The hosts stress that it's about appreciating the journey, not just the destination.

    • Roth IRA for Kids (00:29:46)

      • Discussing how children with earned income can benefit from a Roth IRA, helping them build wealth early.

    • The Impact of Fees on Investing (00:44:01)

      • Emphasizing the significance of minimizing fees and its long-term effects on wealth accumulation.

    Join the Discussion Go to ChooseFI.com/login

    Actionable Takeaways
    • Red X Month: Consider taking a dedicated month to reset and recharge your priorities. (00:05:05)
    • Roth IRA for Children: Open a Roth IRA for your child if they have earned income to help them start building wealth. (00:29:46)
    • Minimize Investment Fees: Invest in low-fee index funds to optimize your long-term wealth and keep track of any fees tied to mutual funds or advisors. (00:43:27)
    Key Quotes
    • "Reclaim your most precious non-renewable resource: your time." (00:16:51)
    • "It's not about reaching a mythical number; it's about living a better life." (00:08:55)
    • "Time in the market surpasses timing the market." (00:48:22)
    Timestamps
    • 00:00:00 - Introduction to Incremental Gains
    • 00:02:05 - What is a Red X Month?
    • 00:05:05 - Mindset and Incremental Gains
    • 00:07:21 - Importance of Time and Journey
    • 00:29:46 - Roth IRA for Kids
    • 00:44:01 - The Impact of Fees on Investing

    Essential Listening Episodes Referred to

    • Masterclass on Muscle Building
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    1 hr and 5 mins
  • Are Roth Conversions Necessary? | Cody Garrett and Sean Mullaney | Ep 581

    Are Roth Conversions Necessary? | Cody Garrett and Sean Mullaney | Ep 581
    Jan 12 2026
    Brad hosts Sean Mullaney and Cody Garrett to dive deep into the topic of taxable Roth conversions, including key distinctions between various Roth strategies. The discussion emphasizes the strategic nature of these conversions during retirement, common misconceptions, and the importance of prioritizing personal financial success over societal pressures. Listeners will gain practical insights into tax management and gain clarity on when and if to pursue Roth conversions in their financial plans. Disclaimer: Sean's discussions on the ChooseFI podcast and articles and messages published on ChooseFI.com are intended for general educational purposes and are not tax, legal, or investment advice for any individual. The ChooseFI podcast and its owners, employees, and agents do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc., or their services. Timestamps & Key Topics: 00:00:56 - Introduction to Guests Hosts introduce Sean Mullaney and Cody Garrett, authors of Tax Planning To and Through Early Retirement. 00:02:11 - Understanding Taxable Roth Conversions Definitions and purpose of taxable Roth conversions vs. backdoor Roths. 00:12:07 - Taxable Roth Conversions During Working Years Why taxable conversions are generally discouraged for those with a job.Discussion on 'income disruption years' as an exception. 00:15:13 - Strategies for Retirement Income Exploring income sources and tax brackets in retirement. 00:19:10 - Roth Conversion Decisions in Retirement Discussion on RMDs and managing taxable income effectively in retirement. 01:04:17 - Conclusion and Resources Recap of key insights and suggestions for further financial planning. Key Insights: Taxable Roth Conversions vs. Backdoor Roths Taxable conversions create taxable income and can be beneficial, while backdoor Roths are a mechanism to contribute when income limits apply. Ideal Times for Conversions Typically not advisable during high-income years; consider during low-income years or life events causing income disruption. Tax Burdens in Retirement Many retirees experience lower tax burdens than expected; RMDs are manageable for most. Roth Conversions and Future Planning Primary beneficiaries are often oneself and heirs; focus on financial success rather than tax liabilities for future generations. Avoiding Procrastination through Optimization Optimization can become procrastination; focus on higher impact decisions for financial health rather than getting lost in tax details. Actionable Takeaways: Evaluate Current Tax Bracket: Assess your taxable income before considering a Roth conversion (00:12:07).Timing Is Key: Consider performing Roth conversions during lower income years (00:12:50).Understand RMDs: Evaluate the necessity of Roth conversions in the context of required minimum distributions (00:22:28).Consult Professionals: Consider professional guidance for personalized strategies aligned with your long-term financial goals (01:04:01). Featured Quotes: "Retirement accounts exist to ensure financial success in retirement." - Sean Mullaney (01:04:01)"Roth conversions can enhance tax efficiency but are not required." - Cody Garrett (00:42:34)"Don't let fear guide you in financial decisions." - Brad (01:05:17) Related Resources: Tax Planning To and Through Early RetirementMike Piper Speech on Tax StrategySean's Case Study on Retirement Planning
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    1 hr and 6 mins
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