In today's podcast we recap Episode 47 with Bryce and Kristy from Millennial Revolution including talk of home ownership and world travel, but a reader case study and voicemail.
In Today’s Podcast we cover:
A recap of our main takeaways from Episode 47 with Kristy and Bryce from Millennial Revolution
How Brad explained the concept of compound interest to his daughter Anna and it was a lightbulb moment
How Brad’s daughter immediately took action and invested her money in Vanguard index funds
Brad’s moment where he found the concept of compound interest as a 19 year old
Calling for tips on how other parents have introduced financial skills to their kids
How Jim Collins was considering buying a house and other FI members were poking fun at him
How your house is not a great investment and for people in the FI community it isn’t “your biggest investment”
Your home may be a terrible investment but it doesn’t mean it’s a terrible decision
Home appreciation seems “magical” to people but it actually represents well below the 8% return benchmark we use as a guide
Brad’s example of a $300,000 house and the expected future value
How Bryce and Kristy have these amazing hacks to travel for little money
Their entire lives cost $30,000 for a full year
Time averaging in low and high cost of living areas
A reader case study that was sent in to Bryce and Kristy on the rental property they have that’s underwater and how they should move forward
Voicemail from ChooseFI community member Jack on finding FI and making amazing changes up to a 58% savings rate
How everyone can pursue FI and it isn’t limited to certain incomes, professions, etc.
Itunes review and book giveaways
Links from the show:
Millennial Revolution
Why Your House is a Terrible Investment
Friday Reader Case Study: My Mortgage is Underwater. Am I Screwed?
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