096R | An in-depth conversation with JL Collins about a recent controversial interview given by Suze Orman, and clarification of what concepts are truly at the heart of the financial independence movement.
- Frugal wins of the week from Brad & Jonathan: garbage pickup and cell phone batteries.
- What questions did Dominick Q, from Monday’s episode, ask that were most impactful for Jonathan?
- Jonathan explains how he uses a planner at night to set himself up for success the next day.
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- What three things does he want to accomplish tomorrow?
- Shutting off notifications on his phone allows Brad to step away from him phone more effectively.
- One of Dominick’s strategies for breaking the tie to various technology is a ‘digital detox’.
- Leaving his phone at home during a family walk each morning helps Jonathan give quality, undivided attention to his family.
- JL Collins, a.k.a., the Godfather of FI, talks about two recent interviews on the “Afford Anything” podcast with Suze Orman (personal finance expert and former CNBC talk show host).
- Although Suze opposes the overall idea of FIRE, she advocates for many similar personal finance concepts and principles.
- Brad and Jonathan wonder whether anyone would ever be able to retire based on the FI numbers that Suze suggested.
- JL suggests that fear of what might happen in the future informs Suze’s mindset more than necessary.
- Continuing to work doesn’t mitigate uncertainty about the future.
- The only truly non-renewable resource is wasting decades of your life.
- Is the FI community more prepared than most for bad things that might happen in the future?
- Jonathan and JL wonder if Suze’s wealth has been accumulated through sound investing, or from a variety of businesses and her work as a TV personality.
- It’s easy to sell books and products based on fear.
- Was Suze’s interview actually good for the FI community?
- The amount of money someone actually needs to retire is entirely dependent on the lifestyle that someone chooses to live.
- Does the “FIRE” acronym add some concern and confusion about the FI community?
- Being financially independent just means that you can do whatever you want.
- Trying to pick individual stocks is a loser’s game.
For more information, visit the show notes at https://ChooseFI.com/096R