3345: Why Following Your Dreams Will Make You Free by Wanderer of Millennial Revolution on Financial Independence and Purposeful Living
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3345:
Wanderer argues that chasing your dreams doesn’t have to mean choosing between passion and financial stability, it’s about building financial independence first, so your dream can thrive without the pressure to instantly pay the bills. By strategically pursuing passion projects on the side and leveraging even modest income from them, you can lower your "Magic Number" and reach freedom faster, all while keeping your dreams alive and viable.
Read along with the original article(s) here: https://www.millennial-revolution.com/freedom/why-following-your-dreams-will-make-you-free/
Quotes to ponder:
"Don’t let anybody tell you that life is about pursuing money or pursuing your dream. It’s not either/or. It’s both."
"Follow the money, then follow your dreams."
"If you have something you want to create, start stockpiling your resources now, so that you can give your dream the gift of time."
Episode references:
EconoMe Conference: https://economeconference.com/
Steve Jobs' Stanford Commencement Speech: https://news.stanford.edu/2005/06/14/jobs-061505/
Learn more about your ad choices. Visit megaphone.fm/adchoices
--------
8:58
--------
8:58
3344: The Case For and Against Umbrella Insurance by Mike Ballew of EggStack on Insurance Planning and Financial Protection
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3344:
Mike Ballew challenges conventional wisdom by weighing both sides of the umbrella insurance debate, highlighting its role in protecting high-value assets while exposing the flawed logic behind its standard sales pitch. With examples ranging from teenage drivers to backyard mishaps, he encourages readers to make a decision based not on fear, but on a realistic assessment of personal risk and legal protections.
Read along with the original article(s) here: https://eggstack.com/blog/2022-07-03-The-Case-For-and-Against-Umbrella-Insurance/
Quotes to ponder:
"The decision whether or not to buy umbrella insurance really comes down to two things: assets and risk."
"The case for umbrella insurance is based on faulty logic: that your exposure is limited to the difference between your assets and the liability limit. It is not."
"Every state has protections against losing your primary residence and your retirement savings."
Learn more about your ad choices. Visit megaphone.fm/adchoices
--------
9:18
--------
9:18
3343: Financial Mass Destruction by Jesse Cramer of Best Interest on Financial Risks and Economic Awareness
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3343:
Jesse Cramer unpacks why Warren Buffett labeled derivatives and leverage as “financial weapons of mass destruction,” showing how these tools can amplify both profits and catastrophic losses. Through real-world analogies and examples like the 2008 financial crisis and Long-Term Capital Management, Jesse urges everyday investors to recognize the hidden risks around them and stick to steady, sustainable strategies.
Read along with the original article(s) here: https://bestinterest.blog/financial-mass-destruction/
Quotes to ponder:
“Neither derivatives nor leverage is free.”
“The range of derivatives contracts is limited only by the imagination of man, or sometimes so it seems, madmen.”
“Wall Street ends up trillions of dollars too optimistic, until the music stops.”
Episode references:
When Genius Failed by Roger Lowenstein: https://www.amazon.com/When-Genius-Failed-Long-Term-Management/dp/0375758259
The Big Short by Michael Lewis: https://www.amazon.com/Big-Short-Inside-Doomsday-Machine/dp/0393338827
Odd Lots Podcast (featuring Brad DeLong): https://www.bloomberg.com/podcasts/odd-lots
SPIVA U.S. Scorecard by S&P Dow Jones Indices: https://www.spglobal.com/spdji/en/research-insights/spiva/
Learn more about your ad choices. Visit megaphone.fm/adchoices
--------
12:58
--------
12:58
3342: When Should You Use Margin When Investing? By Shailesh Kumar with Good Financial Cents
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3342:
Shailesh Kumar breaks down when margin investing makes sense, and when it absolutely doesn’t. He outlines smart, situational uses for margin loans like temporary liquidity gaps or strategic tax planning, while warning against high-risk behaviors like chasing dividends or funding lifestyle purchases with borrowed money. This piece offers a clear, practical guide for investors who want to leverage margin responsibly without falling into financial traps.
Read along with the original article(s) here: https://www.goodfinancialcents.com/when-should-you-use-margin-when-investing/
Quotes to ponder:
"Margin is debt. You borrow capital from your broker to buy more assets, in most cases stocks."
"Too much debt kills, but a little debt can go a long way towards giving you financial flexibility."
"Multiple levels of leverage are financial insanity and can come back to bite you much sooner than you think."
Episode references:
The Margin Loan: How to Make a $400,000 Impulse Purchase: https://www.mrmoneymustache.com/2021/01/29/margin-loan-ibkr-review/
Learn more about your ad choices. Visit megaphone.fm/adchoices
--------
10:14
--------
10:14
3341: My Fear of Spending is a Form of Imposter Syndrome by Kiersten Saunders of Rich and Regular
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3341:
Kiersten Saunders unpacks the emotional toll of financial transition, exploring how fear of spending, even after achieving financial milestones, can mirror imposter syndrome. Through raw self-reflection and everyday moments, she reveals the deeper psychology behind money habits and how learning to trust yourself with your own success is a crucial step in financial independence.
Read along with the original article(s) here: https://richandregular.com/my-fear-of-spending-is-a-form-of-imposter-syndrome/
Quotes to ponder:
"Instead of letting my fear of spending beaucoup money take me down a path of scarcity, I am choosing to reframe my circumstances."
"It’s easier to ignore short term impulses when you know there’s something greater later."
Episode references:
Suze Orman: https://www.suzeorman.com
FinCon: https://finconexpo.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Sobre Optimal Finance Daily - Financial Independence and Money Advice
Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.
Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals.
This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future.
Listen now, and become an OLD friend--your optimal life awaits...
Ouça Optimal Finance Daily - Financial Independence and Money Advice, Economia Falada e muitos outros podcasts de todo o mundo com o aplicativo o radio.net
Brasil