ChooseFI

You're in — welcome to ChooseFI!

Keep an eye on your inbox over the next couple of weeks. We're going to send you the best of what we've built over the last 10 years — curated to help you wherever you are on your financial journey. The more you engage, the better we can tailor what we send to exactly what you need.

What's All The Hoopla About?

Podcast

Ep. 364 What's All The Hoopla About?

Brad's cybersecurity wake-up call. Digital safety for the FI community, backup strategies, and financial resilience lessons.

Brad Barrett, Jonathan Mendonsa · · 134,107 plays
51m 34s
  1. Introduction and Financial Resilience
  2. Brad's Cybersecurity Experience
  3. Using Library Resources for Audiobooks
  4. The Concept of Doing Nothing
  5. Inflation and Mortgage Strategies

Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may earn compensation from card issuers when a customer clicks on a link, when an application is approved, or when an account is opened. Opinions, reviews, analyses & recommendations are the author's alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser.

Most people don't realize how exposed their digital life is until it's too late. Brad experienced a ransomware attack firsthand, and his story offers crucial lessons on protecting yourself from similar threats.

Financial resilience involves preparing for unexpected events like medical emergencies and cyberattacks. Brad shares his recent experience with a ransomware attack, emphasizing the importance of cybersecurity and backup systems for protecting data. Both Jonathan and Brad discuss innovative ways to utilize library resources for free audiobooks, including services like Hoopla and Overdrive. They explore the concept of being okay with doing nothing as a bold move, highlighting the need to balance productivity with relaxation. The conversation shifts to managing personal finances amidst inflation, touching on the implications of locking in low mortgage rates and the potential benefits of extra principal payments. They also cover the importance of controlling expenses and maintaining a long-term perspective on financial health.

Chapters

  • Introduction and Financial Resilience
  • Brad's Cybersecurity Experience
  • Using Library Resources for Audiobooks
  • The Concept of Doing Nothing
  • Inflation and Mortgage Strategies

Key Points

Brad's Cybersecurity Experience Brad recounts a ransomware attack, emphasizing the need for data backups and security measures. Implement offline backups and improve cybersecurity.

Using Library Resources for Audiobooks Explore free audiobook services like Hoopla and Overdrive available through local libraries. Use library apps to access free content.

The Concept of Doing Nothing Discussion on the necessity of downtime and relaxation in our productivity-driven culture. Allow yourself to do nothing to foster personal growth.

Inflation and Mortgage Strategies Importance of controlling expenses in times of rising inflation. Discussion on the potential benefits of making extra payments on mortgages. Consider making extra payments to secure financial stability.

Key Quotes

Brad: "Focus on what you can control."

Jonathan: "Maximize your life enjoyment, not just your wealth."

Brad: "No prize exists for being the wealthiest in the graveyard."

Action Items

  1. Check your online security settings and back up your data
  2. Explore library apps for free access to audiobooks and eBooks
  3. Consider making extra payments on your mortgage for financial security
  • Die With Zero by Bill Perkins
  • The Happy Body by Jersey Gregorick: https://thehappybody.com/

Terminology

Ransomware - A type of malicious software that encrypts a victim's files and demands payment for the decryption key

I-bonds - Inflation-linked savings bonds issued by the U.S. government that offer a fixed rate plus an inflation rate

Anti-fragile - A concept describing systems that gain strength or resilience from volatility and disruption

Top Travel Card

Ready to unlock a world of free travel? Start with the Chase Sapphire Preferred® Card

$95 annual fee | Earn 75,000 bonus points

Best Card for Side Hustlers and Business Owners

Side hustlers! With the Ink Business Preferred® Credit Card you can earn free travel from your business expenses.

$95 annual fee | Earn 100,000 bonus points

Most Flexible Travel Card

The Capital One Venture Rewards Credit Card can be used to offset almost any travel expense.

$95 annual fee | 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening

ChooseFI has partnered with CardRatings for our coverage of credit card products. ChooseFI and CardRatings may receive a commission from card issuers.

Read Transcript

Join the Conversation

Be the first to comment on this episode. Create a free account to share your thoughts.

Comments

Your comment will be posted after signing in
Join the Conversation

Create an account or sign in to post a comment.

Username
Email

No password needed. We'll send a verification email.

Email
Password
Welcome back, !

Enable commenting on this device so you can post without signing in each time.

You can turn this off anytime

Get Brad's weekly FI strategies — free

Join ChooseFI

Start your financial independence journey

  • Access to the ChooseFI community
  • Exclusive FI resources and tools
  • Weekly actionable insights
or

Already have an account? Log in

Try searching for

⌘K to open anytime

Your FI Journey

1/3

Step 1 of 3

How familiar are you with Financial Independence?