To celebrate the release of JL Collins' new book, Pathfinders, I collected all the best advice from his Financial Independence Podcast interviews!   Jim has been on the show three times:   First, back in 2012 (he was my second guest ever!)Second, when his hit book, The Simple Path to Wealth, was releasedThird, during the depths of the Coronavirus crash   That last interview may be my proudest moment as the Mad Fientist (I explain why during the show).   Hope you enjoy this jam-packed episode! Highlights The power of FU Money and why it may be less money than you thinkJim’s biggest investing mistake and what he learned from itWhy index investing is superior to active investingAre REITs and international funds necessaryWhy your house may not be a good investmentThoughts on stock picking and actively-managed fundsWhat makes Vanguard unique and why it’s best for investorsThe three keys to becoming wealthyLessons learned from Black MondayHow to prepare for the next market crash

Health is similar to finances in that there are many overly-complex things people say you need to do, but there are just a few simple things that actually matter. What is the "spend less than you earn, invest in a diversified/low-fee portfolio, and leave it to grow/compound" of the health world? That's what today's episode is about! Parker Hewes wrote a book called Lifelong Youth: The Simple Path to a Long and Youthful Life, and today he shares the eight health behaviors that will do the most for your longterm health and wellbeing!

On today’s episode of the Financial Independence Podcast, I welcome back Chad Carson from CoachCarson.com! Chad just released a new book, The Small and Mighty Real Estate Investor, and I wanted to get him back on the show to talk about it. I’m not a real-estate investor myself though. So rather than interview him myself, my real-estate-investor friend, Jillian Johnsrud, did the interview for me! You may know Jillian from Montana Money Adventures, or her new podcast – Retire Often. She did a fantastic job, so I hope you enjoy their conversation as much as I did!

On today’s episode of the Financial Independence Podcast, I welcome back Ramit Sethi from I Will Teach You to Be Rich! I needed someone to come on the show to provide some tough love and Ramit was the only person for the job. As Ramit mentioned during our last interview, FIRE people are great at knowing what NOT to spend on but we’re not good at knowing what to spend on. Spending is going to be a big focus on the Mad Fientist this year and I can’t think of a better way to kick off this discussion than by getting yelled at by Ramit so hope you enjoy it! Highlights Why we doubled our annual spending (and was it worth it)What Ramit did to make me get all clammy and uncomfortableWhy pay less when you can pay moreHow to imagine your own rich lifeWhy you should start wasting some money at a certain point

Over the last few years, I interviewed members of my family to find out two things: How I became the Mad Fientist (i.e. where did I get my extreme ideas about money) What advice they'd give to parents hoping to raise money-smart children This is a short but sweet holiday episode to end the year and I hope you enjoy it!

Cody Berman and Justin Taylor, hosts of the FI Show, have both achieved financial independence but they've taken drastically different paths to get there. Listen to this Podcast Takeover episode to hear the similarities and differences between an employee's path to FI (Justin's) and an entrepreneur's journey to FIRE (Cody's)! Highlights Live-in flip vs. house hackingSweet spot for buying used carsWhy focusing on fixed expenses is importantHow to 5x your corporate incomeThe unlimited upside of entrepreneurshipHow to get started investing if you're scared/nervousNest-egging vs. cash-flowing your way to financial independenceThe benefits of a Solo-401(k) for entrepreneursWhy the corporate world is great for certain types of peopleBenefits and downsides of entrepreneurshipWhy it's important to not keep up with the FI Joneses either Show Links The FI Show - https://thefishow.comThe FI Show's Mega Backdoor Roth Episode - https://thefishow.com/mega-backdoor-roth-solo-401k-explained/The Mad Fientist's Mega Backdoor Roth Article - https://www.madfientist.com/after-tax-contributions/

Life has completely changed. And because of this major change, I'm even more grateful for the freedom, flexibility, and time that financial independence and early retirement provide. In this short episode, I fill you in on what's been happening and I discuss the reasons for my newfound appreciation of FI.

Welcome to another podcast-takeover episode of the Financial Independence podcast! This time, Mathias from the Financial Independence Europe podcast takes over the show to talk to Luke Freeman (from Giving What We Can) and Rebecca Herbst (from Yield and Spread) about Effective Altruism! Highlights What is Effective AltruismHow to give efficiently and effectivelyBenefits of joining the effective altruism communityHow giving is evolvingDifferences between the US and Europe with regards to philanthropyHow to give to charity while pursuing FI Show Links Financial Independence Europe - https://financial-independence.eu/Yield and Spread - http://yieldandspread.comGive What We Can - https://www.givingwhatwecan.orgGive Well - https://www.givewell.orgOriginal Show Link - https://financial-independence.eu/uncategorized/episode-147-how-to-give-effectively-luke-freeman-and-rebecca-herbst/

Exactly 10 years ago, I released the first episode of the Financial Independence Podcast! To celebrate this big birthday, I’ve collected all the best advice from my interviews with my very first podcast guest – Mr. Money Mustache! Highlights Mr. Money Mustache’s investing strategyThoughts on real-estate investing vs. stock-market investingHow to invest in a raging bull marketThe benefits of hitting FI before having kidsWhy you’ll likely make money after retiring earlyMr. Money Mustache’s biggest splurgeHow to decide whether to pay off your mortgage earlyThe best part of financial independenceHow to find meaning after early retirementMost challenging part of post-FI lifeThe impact of financial independence on personal relationships

On today’s episode of the Financial Independence Podcast, I speak to Patrick Aime from Aime to Invest! Patrick’s journey to FI is an incredible one. He… Moved from his home in Rwanda to attend high school in Europe and college in AmericaStayed in America after college and started working in the feast-or-famine world of salesStarted his own company and grew it to $5 million in revenue in four yearsUsed his success in business to invest in rental properties and live a lavish lifestyleLost everything during the 2008 global financial crisis and had to declare bankruptcyFound FIRE and drastically reduced his expenses and started saving for the long termRebuilt a smaller business and started investing in short-term rental properties in MexicoUtilized geographic arbitrage to lower his expenses even furtherHit FI 8 years after declaring bankruptcy and became a millionaire 2 years after FI Patrick shares everything he learned during his rollercoaster financial journey so hope you enjoy the interview!

I'm excited to share with you the first Podcast Takeover episode of the Financial Independence Podcast! Carl and Doug from the Mile High FI podcast take over the Financial Independence Podcast to talk about their early retirement successes and failures. Enjoy! Highlights Test drive early retirement by going part-time or taking a sabbaticalWhy finding a community is even more important for early retireesHow to give yourself permission to slow down and be inefficient/unoptimizedWhy you can (and should!) reinvent yourself after you leave your jobHow to stop worrying about running out of moneyWhy meaningful work is still the key to happiness after FI Show Links Mile High FI - https://milehighfi.comMy interview on the Mile High FI podcast - https://milehighfi.com/podcast/048-mad-fientist/

I have some big news… I am now a British citizen! In honor of finally getting my UK passport, and therefore completing this long journey to citizenship, I am releasing my UK FIRE episode. Barney, from The Escape Artist, joined me in my Edinburgh apartment (before the pandemic) to discuss all things related to financial independence and early retirement in the UK. Hope you enjoy it! Highlights The cultural differences between US/UK that affect pursuing FIHow to escape from the prison we create for ourselvesTranslating US investing terminology to the UK (e.g. 401k→pension, IRA→ISA, etc.)Is it easier to reach FI in the US or UKClass structure in UK and how pursuing FI forces you to traverse all classesWhy FIRE isn’t bigger in the UKDifference between the different types of ISAsIs tax hacking possible in the UKReal-estate investing in the United Kingdom and the fantastic Rent-a-Room schemeHow to use geographic arbitrage to reach FI sooner

Last year, I published an interview with one of my favorite financial writers, Morgan Housel. You may remember that the interview was recorded as part of a Bogleheads meeting and the interview was actually conducted by my buddy, Gouri. Well, Gouri recently invited me to join the Bogleheads to talk about life after FIRE and today’s podcast episode is a recording of that discussion! Big thanks to Gouri and the Bogleheads for making this happen and hope you enjoy it! Highlights How your views on spending change after you retireWhy you should treat FI as a spectrum rather than a finish lineHow to plan for all aspects of post-FI lifeThe unexpected benefits and challenges of early retirement

If you’ve followed me for a while, you’ll know that I’ve released an annual update every year since I quit my job. It’s now been five years since I stopped working so this is my fifth (and final) annual update. Why is it my final one? I explain in today’s short episode. Highlights How the pandemic highlighted the power of having savingsWhy FI is the ultimate shock absorber and cheat codeThe reasons this annual update will be my lastWhat to do when money is no longer a source of motivationWhy “Lean FIRE” may be a bad ideaWarren Buffet’s plan for leaving money to his kids (and why it may change your FI target)

On today’s episode of the Financial Independence Podcast, I finally got to interview the person who introduced me to the concept of financial independence and early retirement in the first place… Jacob Lund Fisker from Early Retirement Extreme! To my mind, Jacob is the founder of the modern-day “FIRE movement” so hope you enjoy the interview! Highlights What Jacob has been up to since stepping away from EREHis experience being a financial quant and how it impacted his personal investingThe problem with set-it-and-forget-it index investingThe importance of staying flexible with your investing strategyPredictions for the next decade and the post-COVID worldA systems approach to lifestyle design and why it’s beneficialJacob’s thoughts on early retirement how they’ve changed since publishing Early Retirement ExtremeHis current projects and his plans for the future

Last year, I conducted an experiment in Ultralearning that I hoped would help me achieve a lifelong dream of mine of writing and releasing an album. I’m happy to say it was far more successful than I ever imagined it would be! As I mentioned in the initial Ultralearning podcast episode, the hope for the 3-month experiment was that it would accelerate my progress towards my goal and make the process more enjoyable. Well, it did all that and more… I ended up finishing a song during that 3-month experiment and I can’t believe it but I just released that single today! Not only did I write a song during the experiment, I continued writing music since then and I now have enough material for an album! Never in my wildest dreams would I have thought this experiment would help me make so much progress but it has! In today’s podcast episode, I go through everything I learned and explain why the Ultralearning Experiment helped me push past the self-doubt and self-destructive habits that have plagued me in the past. I also describe the new routines the experiment helped me develop and why those new habits have allowed me accomplish more than I ever have before! Highlights How to get your brain ready (and why it’s essential for making progress)The best way to make developing new habits easierWhat you should focus on and whyHow to be original and creativeWhy you should make your project “real” (even if it makes you feel silly)When it’s worth spending more money instead of lessWhy you should expect to encounter the “gap” and how to get over it

One of my favorite financial writers, Morgan Housel, is on the Financial Independence Podcast today! I’m not the one conducting the interview this time though (all is explained in the episode). Morgan’s insight into how to handle uncertainty, market crashes, and this weird stock boom that we now find ourselves in is invaluable so hope you enjoy it! Big thanks to Gouri, Morgan, and the Bogleheads for making this happen!

It’s been four years since I left my full-time job and what a crazy year it’s been! To celebrate this anniversary and to recap the things I’ve learned during this last year of post-FI life (and the COVID market crash), I recorded a short podcast episode.

Bear markets are a normal part of investing but is this time different? As the coronavirus COVID-19 spreads around the world, governments are struggling to limit the economic impact of the disease. In today’s unplanned episode of the Financial Independence Podcast, JL Collins (author of The Simple Path to Wealth) joins me to talk about this stock-market crash, how it differs from previous crashes, and what you should do about it. Note: Apologies for the audio quality of this episode. Since this wasn’t planned in advance, I didn’t have my normal microphone so I had to use the microphone on my iPhone headphones :/

On today’s episode of the Financial Independence Podcast, I’m excited to introduce Scott Young! I first heard about Scott when he decided to complete MIT's entire computer science curriculum in a year. Scott has taken on a lot of these types of impressive learning projects and he just wrote a great book about it – Ultralearning. As you know, I’m attempting to tackle a very intimidating project myself so what better way to kick off that effort than with my own 3-month ultralearning project! In today’s interview, we dive into the details of ultralearning and we design a new ultralearning project from scratch. Ultralearning projects seem perfect for anyone who is FI or hopes to achieve financial independence one day so hope you get as much out of this discussion as I did! Highlights Why ultralearning can help you get to FI quicker (while making the journey more enjoyable)How Scott was able to complete MIT’s computer science curriculum in one yearWhy the first part of learning something new is the hardest and how to use ultralearning to get past that phase soonerHow to learn new languages as quickly and efficiently as possibleDetails about my own ultralearning project and how Scott suggests I design itThe imporantance of breaking big goals into concrete stagesWhy limiting scope is so important when diving into something newWhat is meta-feedback and why it’s importantThe power of direct practice and how to use drills to fix specific issuesWhat to do when you hit a block or a plateau in your learning