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Fees, Frugality, and 401K Fears
Episode 428

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Episode Guide

The episode features a lively discussion between Jonathan Mendonsa and co-host Ginger, focusing on personal finance and the journey towards financial independence. They emphasize the importance of being intentional with money, dispelling myths surrounding financial independence, and exploring how personal values shape financial decisions. Ginger shares her experiences with the FI community and her views on spending on health and wellness. They delve into the psychological aspects of money management, referencing books such as 'Dollars and Cents' by Dan Ariely and the concept of investing in experiences rather than material possessions. The episode also covers travel rewards, the intrinsic value of experiences, and actionable tips for managing finances, encouraging listeners to reflect on their own financial journeys and the importance of memories over material wealth.

Episode Timestamps

In this episode: personal investments, 401k contributions, FI is for everyone, travel rewards, task management, and taxes.

On what is considered a very personal journey, how do you handle changes that feel like setbacks? Whether it's spending more when you feel you should be saving, or re-evaluating goals based on what needs immediate attention, do you feel equipped to handle it with confidence? This week we are having a weekly roundup and are re-joined by Ginger to not only answer listener’s questions, but discuss travel rewards, retirement accounts, and breaking away from the ultra-frugal caricature often depicted alongside FI. While saving is an essential factor on this journey, the main purpose of FI is to learn and live your life with intention as it relates to your money, goals, and values. Remember that it’s okay if some of your goals and values will change along the way! Allowing yourself to be flexible as it relates to external factors, like market volatility and your investments, will give you more power and control to continue ahead with confidence and optimism! 

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Timestamps:

  • 1:04 - Introduction
  • 3:31 - FI Is For Everyone
  • 9:16 - Personal Investments
  • 14:08 - Paying For Experiences
  • 19:09 - An Introduction To FI
  • 28:20 - Task Management
  • 35:19 - Travel Rewards
  • 47:06 - 401k Contribution Question
  • 61:00 - Tax Season Hack
  • 68:51 - The Content We Are Consuming
  • 75:28 - Conclusion

Resources Mentioned In Today’s Episode:

M1 Finance

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