Optimal Finance Daily - Financial Independence and Money Advice
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Description
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...
3321 Episodes
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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 3319:
Julien Saunders challenges the long-held belief that homeownership is the ultimate symbol of financial success, revealing the hidden costs, inefficiencies, and limitations it often creates. By examining oversized houses, expensive mortgages, underutilized space, and geographic restrictions, he encourages a more intentional approach, buy smaller, avoid unnecessary debt, and prioritize flexibility over blind adherence to the “American Dream.”
Read along with the original article(s) here: https://richandregular.com/the-fallacy-of-homeownership/
Quotes to ponder:
"If homeownership was such a sure shot to building wealth, wouldn’t we know more wealthy people?"
"Borrowing the maximum allowable amount of money for a home benefits banks, not you."
Episode references:
The Declaration of Independence: https://www.archives.gov/founding-docs/declaration-transcript
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![3318: [Part 2] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics](https://megaphone.imgix.net/podcasts/a578fcbc-a41e-11f0-b818-c7a38df7a143/image/923119da07a0f4a09ec10aab91b495b1.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3318: [Part 2] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics")
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 3318:
Darrow Kirkpatrick unpacks the real distinction in retirement income strategies, not between risk and safety, but between who manages the risk, you or an insurance company. He argues for a flexible, hybrid approach that evolves over time, matching both your temperament and life circumstances, rather than locking into an all-or-nothing decision early on.
Read along with the original article(s) here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/
Quotes to ponder:
“‘Probability-based’ and ‘safety-first’ label the extremes in retirement planning.”
“The real distinction is whether (market and longevity) risk is transferred or retained, and if retained how those risks are managed or avoided.”
“Once you buy an annuity, you own that decision for life.”
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![3317: [Part 1] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics](https://megaphone.imgix.net/podcasts/e2805642-a41d-11f0-ac00-3bbdf6340ce9/image/4dd84fd1c1a0f07e998eb054957b951f.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3317: [Part 1] Are You Feeling Lucky? The Two Schools of Retirement Income by Darrow Kirkpatrick on Retirement Planning Basics")
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 3317:
Darrow Kirkpatrick explores the two dominant schools of retirement income planning: probability-based strategies, which rely on investment growth and withdrawal methods, and safety-first approaches, which prioritize guaranteed income through annuities or bonds. He highlights the strengths and pitfalls of each, noting that the most practical solution for many retirees is often a thoughtful combination of both philosophies.
Read along with the original article(s) here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/
Quotes to ponder:
"In the safety-first philosophy, you, or a financial planner, match guaranteed income to essential expenses."
"A failure probability in the neighborhood of 10% is often considered acceptable. That’s one chance in ten."
"Failure is defined as running out of money before running out of life."
Episode references:
Michael Kitces: https://www.kitces.com/
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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 3316:
Joel shares the real challenges of managing rental properties far from home, from unexpected repair costs and multiple state tax filings to navigating local laws and building trust with teams you’ve never met in person. With practical strategies and personal lessons learned, he shows how to handle these obstacles while reminding us why real estate can still be worth the effort.
Read along with the original article(s) here: https://5amjoel.com/downsides-out-of-state-rental-properties/
Quotes to ponder:
“It’s hard to build a trustworthy real estate team especially when doing it all over the phone!”
“Small political changes can have huge effects on the profitability of your investments.”
“If you want rainbows you have to put up with the rain.”
Episode references:
Long-Distance Real Estate Investing: https://www.amazon.com/Long-Distance-Real-Estate-Investing-Financial/dp/1947200038
The Speed of Trust: https://www.amazon.com/Speed-Trust-Thing-Changes-Everything/dp/1416549005
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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 3315:
Sam Dogen explores the psychology behind overspending and how to recognize the emotional triggers that lead to impulse purchases. By shifting focus toward long-term satisfaction, building awareness, and setting up practical guardrails, he shows how to resist the urge to splurge and create a healthier relationship with money.
Read along with the original article(s) here: https://www.financialsamurai.com/controlling-the-urge-to-splurge/
Quotes to ponder:
"Splurging is like eating that extra piece of chocolate cake when you’re already full."
"The more you can highlight the negatives of splurging, the easier it is to resist."
"Once you accept that splurging will never provide lasting happiness, you’ll be free."
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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 3314:
Ross Enamait highlights the importance of learning from the journeys of accomplished athletes, not just their victories. By listening to their struggles, persistence, and adaptability, we gain practical lessons that extend far beyond sports and can fuel personal growth in any field.
Read along with the original article(s) here: http://rosstraining.com/blog/2015/07/20/listen-and-learn-from-successful-athletes/
Quotes to ponder:
"One of the best ways to learn is by listening to those who have come before you."
"You can always find value in listening to someone who has been there and done that."
"Success is rarely the result of a straight path, but instead a journey filled with ups and downs."
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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 3313:
Jen Hayes challenges the common belief that student loans are “good debt,” showing how high interest, limited return on investment, and the inability to discharge loans in bankruptcy can create a lifelong financial burden. She urges students to consider alternatives, such as working and saving before pursuing a degree, and to be strategic about choosing affordable education paths with practical majors.
Read along with the original article(s) here: https://www.jenhayes.me/student-loans-bad-debt/
Quotes to ponder:
"Interest on student loans compounds, this means that the interest itself collects interest."
"Student loan debt, unlike most other forms of debt, cannot be eliminated during bankruptcy."
"Whatever you decide to do, don’t believe the lie that student loans are 'good' debt."
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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 3312:
Andy Hill shares how a single pay raise became the spark that transformed his financial future. Instead of succumbing to lifestyle creep, he and his wife used the extra income to eliminate debt, build wealth, and ultimately gain the freedom to design their life around their values rather than consumerism. His story highlights how intentional choices can turn small wins into long-term financial independence.
Read along with the original article(s) here: https://marriagekidsandmoney.com/how-one-pay-raise-can-inspire-debt-freedom
Quotes to ponder:
“Although these purchases, moments and experiences brought me a ton of joy, the ‘I want it now’ nature of them left me with a sizable amount of debt.”
“As much as I REALLY enjoyed vacations, eating nice dinners and partying with my friends, I was now more excited about ridding debt from my life and increasing my net worth.”
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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 3311:
Jeff Rose explains why working with an independent life insurance agent can simplify the often confusing process of finding coverage. Unlike exclusive agents tied to one company, independent agents compare policies across multiple insurers, helping clients, especially those with unique health conditions or risky hobbies, secure better rates and tailored options. With no conflicts of interest, they act as unbiased guides to ensure individuals find the most affordable and suitable protection for their needs.
Read along with the original article(s) here: https://www.goodfinancialcents.com/independent-life-insurance-agent/
Quotes to ponder:
"Your rates are tied to your health."
"Working with an independent agent is not only the best way to get affordable life insurance, it’s one of the easiest as well."
"There is no 'perfect amount' of life insurance that works well for everyone."
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![3310: [Part 2] Investing a Large Sum of Money: What to Do by Christina Browning of Our Rich Journey](https://megaphone.imgix.net/podcasts/e4d7e866-9ef4-11f0-88df-5f5ceccc01e6/image/516c13a7d4a5044e871c6e3a094c9921.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3310: [Part 2] Investing a Large Sum of Money: What to Do by Christina Browning of Our Rich Journey")
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 3310:
Christina Browning highlights smart strategies for handling a financial windfall by focusing on financial literacy, setting long-term goals, and weighing whether to pay off debt or invest. She explores practical investment options, building a business, real estate, or the stock market, while emphasizing risk management and avoiding get-rich-quick schemes. Her approach shows how a lump sum can accelerate financial independence if directed with purpose and discipline.
Read along with the original article(s) here: https://www.ourrichjourney.com/post/investing-a-large-sum-of-money
Quotes to ponder:
"You must become financially literate so that when the opportunity arises and you suddenly come into a large sum of money, you have the knowledge you need to make the best decisions for you."
"Using that money allowed us to buy the right property at the right time and grow our wealth significantly."
"The journey to financial independence takes time, even with large sums of money."
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![3309: [Part 1] Investing a Large Sum of Money: What to Do by Christina Browning of Our Rich Journey](https://megaphone.imgix.net/podcasts/289d6ecc-9e05-11f0-aab2-db1bd444004c/image/f31e3f0087f673816e82b72822a0d2de.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3309: [Part 1] Investing a Large Sum of Money: What to Do by Christina Browning of Our Rich Journey")
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 3309:
Christina Browning highlights the key mistakes to avoid when investing a large sum of money, especially on the path to financial independence. She stresses the importance of financial literacy, avoiding liabilities disguised as assets, and being cautious with individual stocks and speculative investments like cryptocurrency, guiding listeners toward smarter, more sustainable wealth-building choices.
Read along with the original article(s) here: https://www.ourrichjourney.com/post/investing-a-large-sum-of-money
Quotes to ponder:
"Financial literacy is KEY!"
"Don’t buy liabilities disguised as assets."
"If you’re new to stock market investing, you probably don’t know nearly enough yet to know how to select stocks that you can be legitimately confident in."
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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 3308:
J. Money unpacks a variety of common financial rules of thumb, covering housing, retirement, life insurance, budgeting percentages, and saving for college, and questions how useful they really are in practice. His reflections reveal that while these rules provide handy benchmarks, personal circumstances and priorities often tell a different story, encouraging a more flexible, individualized approach to money.
Read along with the original article(s) here: https://www.budgetsaresexy.com/interesting-financial-rules-of-thumb-to-follow/
Quotes to ponder:
“Spend no more than half of your income on living expenses, keep discretionary items to 30%, and save the rest.”
“You can afford a home that’s two to four times your annual gross income.”
“You need life insurance equal to eight to 10 times your annual pretax income.”
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Episode 3307:
Chris Guillebeau challenges the conventional notion of success by contrasting the purchase of an expensive SUV with the life-changing experience of visiting 100 countries. He reminds readers that real wealth lies in experiences, freedom, and memories, not in depreciating possessions.
Read along with the original article(s) here: https://chrisguillebeau.com/100-countries-or-an-suv/
Quotes to ponder:
"Most people spend their money on things that depreciate quickly, instead of on things that increase in value over time."
"With travel, the more you do, the richer you become."
"Memories, experiences, and personal growth are things that no one can repossess."
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Episode 3306:
Amanda Brownlow shares how shifting from owning more to embracing minimalism brought her family peace of mind, improved finances, and deeper contentment. By letting go of excess possessions and the mindset that more equals security, she discovered freedom, clarity, and more time for what truly matters.
Read along with the original article(s) here: https://hellobrownlow.com/2019/03/26/how-we-feel-secure-with-owning-less/
Quotes to ponder:
“That first round of decluttering (the purge) lifted a weight from my shoulders that I didn’t know existed.”
“We feel secure in owning less because all that stuff that was cluttering our home and our minds was gone.”
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Episode 3305:
Tax lien investing offers the promise of diversification, steady returns, and even the chance to acquire property at a fraction of its value. But as Vicki Cook and Amy Blacklock explain, the risks and complexities, such as bidding wars, due diligence, and potential repair or legal costs, make it a strategy best suited for experienced real estate investors. Their guidance helps you weigh whether the payoff justifies the time, effort, and risks involved.
Read along with the original article(s) here: https://womenwhomoney.com/tax-lien-investing-make-money/
Quotes to ponder:
"You don't need to be a real estate agent or have a business to invest in tax liens."
"To make a smart tax lien investment, the due diligence takes time."
"If investing in tax lien certificates wasn't a good way to make money, there wouldn't be much competition for them."
Episode references:
National Tax Lien Association: https://ntla.org
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Episode 3304:
Jackie Beck emphasizes two foundational, yet often overlooked, steps to finally break free from debt: stop borrowing and stay committed through the ups and downs. Her practical advice reframes debt not as a budgeting puzzle but a mindset shift, encouraging listeners to build support systems, establish emergency funds, and plan for the inevitable surprises that come with financial transformation.
Read along with the original article(s) here: https://www.jackiebeck.com/want-to-get-out-of-debt-dont-forget-the-most-important-step/
Quotes to ponder:
"You have to quit borrowing in order for any get out of debt method to work."
"When you’re in a hole and want to climb out, the first step is to put down the shovel."
"The most important thing when it comes to quitting debt is remembering that there are always alternatives to borrowing."
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Episode 3303:
Scott Spann explores situations where a Roth IRA may not be the best choice, highlighting factors like early withdrawal temptations, uncertain future tax rates, and the potential benefits of focusing on career development instead. His perspective encourages weighing personal circumstances and long-term financial goals before deciding between retirement account options.
Read along with the original article(s) here: https://www.financialfinesse.com/2013/07/01/reasons-to-stay-away-from-a-roth/
Quotes to ponder:
"A wonderful feature of Roth IRAs is the ability to access your contributions at any time without taxes or penalties. This ease of accessibility can be dangerous for people who may be easily tempted to withdraw these contributions prior to retirement for non-emergencies."
"If you are debating between contributing to a Roth or advancing your knowledge and earnings potential, it just may make more sense to focus on career development for the best return on your investment."
"We could even see a national sales tax or a VAT that would be applied to all spending, whether it came from a Roth or not."
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Episode 3302:
Kent Thune reminds us that the greatest factor in long-term investing success is not the market, the economy, or government policy, but ourselves. By focusing on what we can control, like asset allocation, time in the market, and savings rate, while cultivating self-awareness and defining our own path, we gain both financial resilience and personal growth.
Read along with the original article(s) here: https://www.getrichslowly.org/the-number-one-impact-on-your-investments-is-you/
Quotes to ponder:
“The markets can remain irrational longer than you can remain solvent.”
“If I have even just a little sense, I will walk on the main road and my only fear will be straying from it.”
“Meaning, happiness, and control in our lives best derive from internal sources.”
Episode references:
Myers-Briggs Type Indicator (online test): https://www.16personalities.com/free-personality-test
Emotional Intelligence: Why It Can Matter More Than IQ: https://www.amazon.com/Emotional-Intelligence-Matter-More-Than/dp/055338371X
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![3301: [Part 2] The Four Backstops to the Four Percent Rule by Sean Mullaney on Social Security Benefits](https://megaphone.imgix.net/podcasts/97d7935e-9d3c-11f0-9d8b-732b723af137/image/772609c436c7cad8ef14c291cef04cbd.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3301: [Part 2] The Four Backstops to the Four Percent Rule by Sean Mullaney on Social Security Benefits")
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Episode 3301:
Sean Mullaney explains how early retirees may have hidden safety nets that reduce the risk of running out of money under the 4% rule. From the progressive structure of Social Security benefits to the flexibility of housing choices and even the reality of life expectancy, these backstops can provide confidence and stability in retirement planning. His analysis highlights why early retirees often have more resilience than they might initially believe.
Read along with the original article(s) here: https://fitaxguy.com/the-four-backstops-to-the-four-percent-rule/
Quotes to ponder:
"An additional year of work for Chuck at a $130,000 salary netted Chuck only $557 more in annual Social Security benefits at full retirement age!"
"Real estate can serve as a natural backstop to help ensure retirees have financial security and success."
"Failure requires that he has to both run out of assets and live long enough to run out of assets."
Episode references:
Camp FI: https://campfi.org/
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![3300: [Part 1] The Four Backstops to the Four Percent Rule by Sean Mullaney on Early Retiree Planning](https://megaphone.imgix.net/podcasts/4d830e36-9630-11f0-bc25-ab122f695e3f/image/e5a02d427888e69b6f9eb956f97e2ea2.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress "3300: [Part 1] The Four Backstops to the Four Percent Rule by Sean Mullaney on Early Retiree Planning")
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Episode 3300:
Sean Mullaney highlights why the Four Percent Rule may not be as rigid as many fear, pointing to natural backstops like flexible spending and Social Security that help safeguard retirement plans. He shows how early retirees often adjust their lifestyles and eventually benefit from guaranteed income streams, making the 4% Rule more resilient than it first appears.
Read along with the original article(s) here: https://fitaxguy.com/the-four-backstops-to-the-four-percent-rule/
Quotes to ponder:
"Spending in retirement can be adjusted."
"There is a natural reduction in energy and interest in certain kinds of spending as one ages."
"If her portfolio is struggling to produce the amount Melinda needs to live off of, Social Security payments provide a backstop and can help make up the difference."
Episode references:
Earn and Invest Podcast: https://earnandinvest.com/
BiggerPockets Money Podcast: https://www.biggerpockets.com/podcasts/money
Portfolio Visualizer: https://www.portfoliovisualizer.com/
New Retirement: https://www.newretirement.com/
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926
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I can understand both sides. On the one side, the majority of people who are good with money won't have a million dollars, and probably won't until they're in their 50s or later. That doesn't mean that their advice is worthless until they've made it. On the other side, plenty of people will give unsolicited advice on money while being terrible with it. I think what it comes down to is knowing who the advice is coming from.