Ep. 357 — 2021 Year End Wins | Part 2

One listener turned $30,000 into $155,000 in twelve months. Another crossed six figures in non-retirement savings while launching a side business generating $20,000 in passive income. These aren't lucky breaks—they're the results of people who took action on the ChooseFI framework and shared their wins at year's end.

Brad and Jonathan dedicate this episode to listener voicemails celebrating financial breakthroughs: moving to zero-income-tax states, maxing out HSAs and 457 plans, negotiating remote work arrangements, crushing mortgage debt, and mastering travel rewards. The stories range from first-time home purchases to salary negotiation victories, each illustrating how small intentional changes compound into major financial progress.

Key Takeaways

• Reflect on your financial accomplishments and set goals for the upcoming year 00:00:10
• Consider moving to a state with zero income tax to improve your financial situation 00:04:54
• Max out retirement accounts to maximize tax benefits 00:07:01
• Engage in salary negotiations with confidence 00:19:46
• Evaluate your lifestyle choices to identify areas for optimization 00:09:06

Chapters

• Introduction and Overview of Wins 00:00:00
• Listener Voicemail: Spencer 00:01:25
• Listener Voicemail: Alison 00:04:54
• Listener Voicemail: Paul 00:07:01
• Listener Voicemail: Cameron 00:14:22
• Listener Voicemail: Bridget 00:20:30
• Conclusion and Community Message 00:49:11

Key Quotes

• "FI is a continuum, not just a state of being." 00:02:49
• "Removing yourself gives clarity on your next steps." 00:25:21
• "Negotiating remote work can enhance your lifestyle design." 00:09:06
• "Transformed our net worth from $30K to $155K in just one year!" 00:47:03

Action Items

• Review financial achievements from the past year and set new goals 00:00:10
• Max out your retirement accounts for greater financial security 00:07:01
• Take steps to negotiate a better salary this year 00:19:46
• Consider a career move for better life satisfaction 00:25:22
• Engage with the ChooseFI community for ongoing support 00:48:11

Terminology

• HSA: Health Savings Account, a tax-advantaged account for healthcare expenses 00:02:06
• FI: Financial Independence, the state of having sufficient personal wealth to live without working 00:02:26
• Geo Arbitrage: Moving to a location with a lower cost of living for financial benefit 00:04:30
• Lifestyle Design: Consciously creating a life that aligns with your personal values and aspirations 00:09:06
• Travel Rewards: Points or miles earned through travel or purchases that can be redeemed for travel-related benefits 00:18:12

Related Resources

• ChooseFI Website 00:48:38
• Playing With Fire Book 00:15:24
• Bigger Pockets Episodes 00:16:41
• ABLE Accounts Information 00:47:12
• Special Needs Trust Info 00:48:05