You'll never be this young again

Q2 Net Worth Calculation

Every three months I spend five minutes updating my net worth spreadsheet and I think this is the single most useful financial habit I’ve adopted.

The second quarter of 2026 ends today and here’s your reminder to update your net worth spreadsheet.

If you’ve never done it, it’s simple:

• Log into each account and record your balances

• Add up everything you own = Total Assets

• Add up everything you owe = Total Liabilities

• Total Assets minus Total Liabilities = Net Worth

I think you'll be amazed how motivating it is to watch your progress quarter after quarter.

The Cost of One More Year

I was having coffee with my friend Chris Terrell, who has been on the podcast several times, and he said something so deep that I literally stopped him mid-thought and pulled out ToDoIst and added this as a segment for the newsletter:

He was discussing a 60-year-old friend who had enough money to retire, but couldn’t wrap his mind around actually stopping.

Chris said:

“Every extra year you work is the best year of the rest of your life you’re giving away.”

You’ll never be that young again.  You’ll never be that healthy again.  You have the money.  So, use it for what it’s good for and enjoy your life!

We can all take something from that, regardless of our current age.

Choose Your Joneses

I recently heard Diania Merriam say something truly profound:

"The easiest way to not get wrapped up in keeping up with the Joneses is to not hang out with the Joneses."

One of the hidden curriculums of Financial Independence is that our environment quietly shapes our aspirations. We rarely wake up one morning and decide what success looks like. We absorb it from the people we spend time with.

Spend enough time around people who equate success with bigger houses and nicer cars, and that will probably become your definition of success..

Spend enough time around people who value freedom, curiosity, connection, and living deliberately, and you'll probably find yourself wanting those things instead.

Environment almost always beats willpower, so choose your Joneses carefully.

A Few Things...

A few things I found interesting this week...

📖 Dungeon Crawler Carl

I just finished the fifth book in the Dungeon Crawler Carl series and it is the most addictive series I've read since I dove into Joe Abercrombie's The First Law books (The Blade Itself is the place to start). They're also fantastic on audiobook and thanks to everyone who recommended listening to Dungeon Crawler Carl instead of reading it!

🩺 Function Health

I rarely get sucked into limited-time deals, but Function Health just launched its lowest offer ever and, since I'm really trying to optimize my health, this was a no-brainer at $499 for two years (including two sets of lab panels each year). That's roughly half of what it cost just a few years ago.

I also have a personal referral code that should get you an additional $25 off, assuming it stacks with this special offer. This special pricing is only available through 7/1, and you'll know it's expired if you don't see "Act now: $250/year with 2 years upfront" at the top of the page.

⚽ The World Cup

I’m a lifelong soccer fan, so it’s no surprise I've been loving the World Cup. Now that we've reached the knockout stages, the tournament should really intensify. I was honestly bummed about this World Cup because of the absurd ticket prices and the expansion to 48 teams, but so far it's been great and I'm excited to see the United States continue what I think is the best stretch of soccer in USMNT history.

🎒 Carry-On Travel

One of my goals is to travel with only carry-on luggage, no matter how long the trip is. To that end, I've replaced most of my T-shirts with merino wool (great for both 20k-step days and nice restaurants) and Under Armour Tech 2.0 shirts, switched to ExOfficio boxer briefs, and become a huge fan of Darn Tough socks.

All three have been comfortable, durable, and surprisingly resistant to odors, which means they don't need to be washed after every single wear. Since I do laundry at least once a week at home or on the road, my entire wardrobe can realistically fit in one small carry-on, or on a single shelf at home.

🧪 My Next Experiment

Erin and I continue having fun building a health app (more on that in the future), and one of the best parts is using it to run experiments and see how your body responds.

My next experiment is sleeping with my phone outside the bedroom. I've heard it's one of the easiest high-value health hacks to implement, and I'm curious to see how it affects my sleep and recovery.

Around ChooseFI

A few things happening around the ChooseFI community...

🎉 Your Wins

One of the most-loved parts of the newsletter is the Taking Action section, and it only exists because you share your wins. If you've made progress, I’d love to celebrate it. Just visit our Feedback page, click "Share a Win," and then "1% Better."

📍 Local Groups

If you haven't already, take 30 seconds to join your local ChooseFI group. You'll automatically receive email notifications about meetups and events in your area, making it easy to connect with other people on the path to FI.

🎙️ Continue the Conversation

Have thoughts or questions about this week's podcast? I'd love to hear them. Join the discussion on Episode 605, where Cody Berman and I talk about his new book and a realistic path to Financial Independence in less than 10 years.

📚 Book Club

Our next book is Happy Money: The Japanese Art of Making Peace with Your Money by Ken Honda. Ginger will be discussing it with Jillian Johnsrud next month, so now's a great time to grab a copy from your library. I'll share details on how to submit questions and join the conversation in an upcoming newsletter.

✈️ Travel Rewards

My Top Ten Recommended Travel Rewards Cards page is always up to date, including current welcome offers. If you're thinking about your next card, that's the first place I'd look.  Update: My #1 card has a 100k bonus so now is a great time to get started.

If you apply using our links, ChooseFI earns a commission at no additional cost to you. That support helps keep the podcast and newsletter free, and we're incredibly grateful.

ChooseFI Community Taking Action This Week