New ChooseFI Member Site
As Jonathan and I announced yesterday on the podcast (Episode 532), we just launched a major new addition to the website that I think will become the center of the entire ChooseFI community.
Click here to join the ChooseFI Member Site
Today we’re inviting you in to join the discussion, ask questions and help us find ways to improve the functionality and build out new features that you think are necessary to make this the ultimate crowdsourced personal finance community.
That’s been our goal since 2017 and we think this new forum and local group focused platform is the technology that can help us get there.
We’re rolling it out in pieces as we test along the way (that’s why we need your help!), but it will soon be:
The main forum for community discussion
The location for ChooseFI Local Groups for discussion and local meetups and event notifications (you won’t be beholden to the whims of the Facebook algorithm any longer!)
The place to ask questions to our incredibly knowledgeable team of world-class experts on all topics related to Financial Independence, community, lifestyle design, health, wellness, mindset, etc.
Your chance to help shape the direction and content on the podcast and website
Needless to say, I’m really excited about this! We need you to create an account today, get in there, click around, start some conversations and test things out for us!
This community has always been about you, and today we’re making that even more of a reality.
Reminder: Investing is Two Steps
I just recorded an episode with Cody Garrett on the ‘Top 10 DIY Investor Mistakes’ and one we featured prominently was that people often let cash pile up in their investment accounts by accident.
This generally happens two ways:
You contribute cash to your account, but you don’t actually purchase an investment (ETF, mutual fund, stock, bond, etc.)
You didn’t check the box to automatically reinvest the dividends and capital gains distributions that you receive.
This can happen to the savviest among us, as an email from Marcus describes:
I've got all the spreadsheets. I've listened to all the podcasts. I've read all the books and I thought, how could someone not know to invest the money they contribute to retirement accounts? I would never miss that step. Then I checked my HSA that started with a new job about two years ago. Yes, I became one of those people who forgot to actually invest the money in my HSA. That's corrected and is my 1% better for the moment. Everyone should double check retirement and HSA accounts, especially if they are new or you've changed jobs. It takes 5 minutes and could be thousands to hundreds of thousands of dollars difference over time.