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    ChooseFI

    441 | The Valuist Returns | FI Roundup with Bo Loy

    Mon Jun 12 2023
    Financial IndependenceLearning New SkillsEmbracing ChangeEnjoying LifeHealth and FitnessAffordable TravelTeaching Kids About MoneyTaking ActionEmpowering OneselfPositive Mindset

    Description

    The episode covers various topics including financial independence, learning new skills, embracing change, enjoying life, health and fitness, affordable travel, teaching kids about money, taking action, and empowering oneself. It emphasizes the importance of living a good life, finding value in small things, and prioritizing what truly matters. The episode also highlights the benefits of hiring an online personal trainer and shares insights on teaching kids about money through amusement parks. It concludes with a focus on embracing opportunities, affecting change, and maintaining a positive mindset.

    Insights

    Financial independence means more than just reaching a number on a spreadsheet

    The financial independence community is focused on living a good life and finding happiness and fulfillment.

    Learning new skills is essential in today's world

    Interest-led learning is applicable to everyone, and it has become easier to acquire new skills.

    Embracing change and trying new things can lead to unexpected success

    Some people achieve success quickly while others take longer, but there is no downside to trying and building skills on the side.

    Enjoying life and finding value in small things is important

    Money is just money, and it's important to cut out unnecessary noise and stress over small expenses.

    Hiring an online personal trainer can have remarkable benefits

    Accountability, programming, and dynamic neuromuscular stabilization therapy can lead to top results in fitness.

    Affordable travel and teaching kids about money go hand in hand

    Amusement parks can be a frugal activity, and they provide opportunities to teach kids about money through everyday experiences.

    Taking action and embracing opportunities can lead to positive outcomes

    Reaching out to important people and embracing opportunities can have meaningful impacts on one's life.

    Empowering oneself and maintaining a positive mindset are key

    Developing an internal locus of control, realizing one's capabilities, and embracing positivity can lead to personal growth and success.

    Chapters

    1. Introduction
    2. Financial Independence and Living a Good Life
    3. Learning New Skills and Embracing Change
    4. Enjoying Life and Finding Value in Small Things
    5. Health, Fitness, and Pursuing Personal Goals
    6. The Benefits of Hiring an Online Personal Trainer
    7. Affordable Travel and Teaching Kids About Money
    8. Teaching Kids About Money Through Amusement Parks
    9. Taking Action and Embracing Opportunities
    10. Empowering Yourself and Embracing Positivity
    Summary
    Transcript

    Introduction

    00:00 - 06:06

    • Bo Loy, the creator of the phrase 'valuest,' returns to discuss all things Fi
    • Jonathan has been learning new skills like AI and coding
    • Jonathan is still part of ChooseFI and has partnered with Bradley Rice to grow the talent stacker program
    • 500 ChooseFI community members have joined the talent stacker program and gotten jobs in the Salesforce ecosystem
    • Interest-led learning is applicable to everyone in this golden age of learning
    • The Fi mindset transcends just money and brings happiness and fulfillment
    • Starting Fi at different ages requires different considerations, but ultimately leads to happiness and value

    Financial Independence and Living a Good Life

    05:51 - 11:59

    • Financial independence means having enough money to not need to work and finding happiness, fulfillment, and value in life.
    • Start living the life you want now, even if you don't have the money yet.
    • Make changes to improve your life and be directionally accurate towards your goals.
    • The financial independence community is focused on living a good life, not just reaching a number on a spreadsheet.
    • To achieve financial independence, save money, house hack, max out retirement accounts, and avoid lifestyle inflation.
    • Surround yourself with like-minded people who are also interested in financial independence.
    • Create breathing room to try multiple entrepreneurial ventures until something sticks.
    • Some people find success quickly while others take longer; it's different from traditional career paths.

    Learning New Skills and Embracing Change

    11:32 - 17:12

    • Some people achieve success quickly while others take longer
    • The field of medicine requires many years of study and hard work
    • Learning new skills has become easier in today's world
    • The speaker had a career as a CPA but also built skills on the side
    • Their various side projects failed but there was no downside to trying
    • Life can take unexpected turns
    • The speaker's friend worked at Accenture before pursuing other paths
    • The speaker considered becoming a doctor later in life
    • They studied biomedical engineering and philosophy before going to medical school
    • Spending time with family is important for the speaker, especially during summer
    • They enjoy having the flexibility to be present for their children

    Enjoying Life and Finding Value in Small Things

    16:52 - 22:47

    • The summer swim season at Chewsify ends in July, so the Red Axe month, a popular event in the community, has been canceled.
    • The speaker's older daughter is a roller coaster enthusiast and there is a whole community of roller coaster enthusiasts worldwide.
    • Amusement parks can be a frugal activity if you bring your own snacks and have fun without spending too much money.
    • The speaker's children loved Legoland and wanted to go back immediately after leaving.
    • Sometimes it's important to remember that money is just money and small mistakes or expenses should be considered as noise and not stress over them.
    • Cutting out unnecessary noise in life, such as obsessing over saving every dollar on groceries, can lead to a better quality of life.
    • The speaker used to geek out about saving small amounts of money by riding his bike to work even in snowy conditions.

    Health, Fitness, and Pursuing Personal Goals

    22:29 - 28:39

    • Different stages of financial independence
    • Importance of celebrating wins no matter how small
    • Value of time and prioritizing what truly matters
    • Being a valuest - spending on what you value
    • Money's fungibility and examining true value
    • Brad's focus on health and fitness, hiring an online personal trainer

    The Benefits of Hiring an Online Personal Trainer

    28:22 - 34:38

    • Hiring an online personal trainer has been the best thing for fitness
    • The trainer, Dean Turner, is incredibly fit and smart
    • The accountability and programming have been remarkable
    • Achieving top 1% results is worth the investment
    • Dynamic neuromuscular stabilization therapy has improved body function and reduced injuries
    • Implementing various lifestyle changes has made life better
    • Both hosts share a desire to climb Mount Fuji in Japan

    Affordable Travel and Teaching Kids About Money

    34:10 - 40:02

    • Japan trip was amazing and surprisingly affordable
    • Kids enjoyed sleeping outside in the truck
    • Meeting kids where their interests lie is important
    • Visiting amusement parks with a slow travel mindset
    • Local amusement park offers annual pass for $100
    • Teaching kids about money through everyday experiences

    Teaching Kids About Money Through Amusement Parks

    39:32 - 46:09

    • Building lessons around amusement parks to teach about money and compounding
    • Discussing what makes a park worth paying admission for
    • Exploring strategies to make more money from every visitor
    • Discovering that Cedar Fair is a publicly traded company
    • Becoming a shareholder of the park by buying stock
    • Daughter selling some VTSAX shares and becoming a shareholder
    • Daughter's favorite ride being closed for winter, sparking curiosity about its reopening date
    • Learning how to find information through Facebook groups and connections
    • Finding out that the general manager of King's Dominion is a woman with a similar background as daughter's passion for roller coasters
    • Considering turning the passion for roller coasters into a career someday
    • Teaching daughter about warm introductions and cold emails to make connections
    • Writing an interesting email subject line to get the attention of the general manager
    • Receiving a response from the general manager, showing interest in daughter's story

    Taking Action and Embracing Opportunities

    45:40 - 51:36

    • The speaker's daughter sent an email to a CEO and received a response.
    • The CEO spent 90 minutes with the daughter, answering her questions.
    • The interaction was very meaningful for the daughter.
    • The speaker encourages his children to embrace opportunities and say 'yes'.
    • The speaker shared a personal story of writing a letter to a company as a child and receiving a positive response.
    • Taking action and reaching out to important people can lead to positive outcomes.
    • Learning to affect change in one's life is important for optimism and mental well-being.

    Empowering Yourself and Embracing Positivity

    51:12 - 55:23

    • You need to develop an internal locus of control and realize that you have the power to make things happen.
    • Your daughter's success in getting an interview shows that anyone can achieve their goals if they take action.
    • Remind yourself that you are capable of accomplishing what you set out to do.
    • Despite the negative news, the world is actually a pretty good place with people who want to help.
    • Being positive, kind, and doing the right thing will bring good things back to you.
    • Join the ChooseFI community by subscribing to the podcast and newsletter, and joining local groups around the world.
    • Learn about financial independence through ChooseFI Episode 100 and their free Financial Independence 101 course.
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