In this episode: income-producing assets, REITs, the 4% rule, optimal spending, saving too much, and why you will never feel rich.
It is believed that in order to reach FI, cutting expenses and limited spending seems like the ideal way to your end goal, but are you missing out on ways to spend-to-earn because it feels right? Well, this week we are rejoined by friend of the show and guest host Brian Feroldi to interview Nick Magguilli, author of the excellent book Just Keep Buying: Proven Ways to Save Money And Build Your Wealth. Together we discuss using data to grow your wealth and fighting the stigmatization of spending your money. On the journey to FI it is easy to focus more on saving so much that we’re afraid to spend, however, by not spending we could be missing out on assets, both monetary and non-monetary, that could bring us greater fulfillment in the present and future! By rethinking your approach to spending, rather than looking at it as something that is negative, you may find that your money can go farther for you when its spent rather than saved!
Nick Maggiulli
Brian Feroldi
Timestamps
Resources Mentioned In Today’s Episode
More Helpful Links and Resources:
314 | Is My Company's Stock Overpriced? | P.E. Ratio Explained
313 | Are You as Diversified as You Think You Are?
312 | First-Time Home Buyer | Bigger Pockets
311 | How to Travel for Free | Stereo Live Q&A
310 | Get Good with Money | Tiffany Aliche, The Budgetnista
309 | College Hacking : The Comprehensive Guide | Stereo Live Q&A
308 | 102 Business Ideas for Kids |Simple Startup with Arianna and Sheila
307 | How to Factor My Mortgage Into My FI Number| Live Stereo Q&A
306 | Myths and Misconceptions |Diania Merriam
305 | Finding Your Locus of Control | Stereo Live Q&A
304 | Mapping Out Your FI Number
303 | Structuring Your Emergency Fund | Stereo Live Q&A
302| Navigating a Multigenerational Household | The Financial Tortoise
301| Money and Relationships | Part 2
300 | Relationships and Money | Jillian Johnsrud
299 | What's Stopping You from Reaching FI?
298 | Habits For Wealth Building | Rich and Regular
297 | From Pandemic Layoff to $100k+ | A Salesforce Success Story |Anita Smith and Bradley Rice
296 | Transition Planning from a Military Career on the Path to FI |Doug Nordman
295 | Emergency Fund for the Zombie Apocalypse
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