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Optimal Finance Daily - Financial Independence & Money Advice
Optimal Finance Daily - Financial Independence & Money Advice

Optimal Finance Daily - Financial Independence & Money Advice

by Optimal Living Daily | Diania Merriam
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2944 Episodes
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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...
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Optimal Finance Daily - Financial Independence & Money Advice

by Optimal Living Daily | Diania Merriam
Subscribe
Nov 15, 2024
2936: What Does It Take To Be A Successful Investor by Vicki Cook & Amy Blacklock of Women Who Money
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 2936: Successful investing relies on key traits like patience, confidence, and emotional control, which empower people to ride out market volatility and stick to their financial goals. Vicki Cook and Amy Blacklock outline how embracing continuous learning, understanding risk, and focusing on long-term objectives can help investors especially women close the confidence gap and harness the full potential of compounding to build wealth and security. Read along with the original article(s) here: https://womenwhomoney.com/characteristics-successful-investor/ Quotes to ponder: "Successful investors understand the risk-return relationship and build diversified portfolios aligned with their long-term financial objectives." "Staying focused on your goals, remaining calm, and ignoring the 'noise' during market turmoil are keys to being a successful investor." "Successful investors aren’t just confident; they have humility too. They expect volatility in the market but understand volatility and loss are not the same things." Episode references: The Simple Path to Wealth by JL Collins: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 14, 2024
2935: How to Get Rich with Minimalism by Karen Trefzger of Maximum Gratitude Minimal Stuff on Personal Finance
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 2935: Karen Trefzger explains how minimalist lifestyle choices can unlock financial freedom by cutting unnecessary expenses in areas like housing, cars, entertainment, and education. By simplifying spending and reinvesting the savings, she suggests anyone can build substantial wealth while also gaining peace of mind and flexibility. Read along with the original article(s) here: https://www.maximumgratitudeminimalstuff.com/2024/10/how-to-get-rich-with-minimalism.html Quotes to ponder: "Keeping up with the Joneses is a terrible idea when they’re spending more than they earn." "Cutting back on non-essentials is not a sacrifice, but a gift we give ourselves." "Minimalism isn’t just about having less; it’s about valuing what truly matters." Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 13, 2024
2934: Selling My Time Too Cheap: How Full-Time Year-Round Work Blinds Us To The Joys of Life by Paul Millerd
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 2934: Paul Millerd explores how the societal default of full-time, year-round employment often blinds us to life’s more meaningful experiences. Sharing his journey from corporate consultant to self-employed, he reveals the hidden costs of trading endless hours for stability and questions the assumptions that keep many people from reclaiming their time and rediscovering genuine fulfillment. Read along with the original article(s) here: https://pmillerd.com/time/ Quotes to ponder: "Those moments where you’ve had enough space and time to connect to yourself are priceless." "What we bought into was a silent conspiracy. One where as long as we remained employed, we could pretend that we had it figured out." "If I had to plant a piece of wisdom in the brain of my younger self it would simply be to tell him that a different state of being is possible." Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 12, 2024
2933: Investing by Steve Pavlina on Creating Positive Social Impacts
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 2933: Investing isn’t just about profit; Steve Pavlina emphasizes the importance of aligning investments with personal values to avoid self-sabotage and create positive social impacts. He suggests focusing on growth-inducing investments in personal development and businesses you control, rather than purely profit-driven options, for a more fulfilling financial journey. Read along with the original article(s) here: https://stevepavlina.com/blog/2012/07/investing/ Quotes to ponder: "Where you invest your money, time, and energy will impact how you feel about yourself as well as how you influence the overall economy." "Investing in personal growth means paying for growth-inducing experiences like books, audio programs, courses, seminars, coaching, training, travel, and more anything that helps you grow." "You’ll find it much easier to invest in alignment with your values since you won’t be fighting a part of yourself." Learn more about your ad choices. Visit megaphone.fm/adchoices
11 MIN
Nov 11, 2024
2932: [Part 2] You Don’t Have to Make $100,000 a Year to Retire Early by Mrs. 1500 of 1500 Days on Saving Money
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 2932: In this insightful continuation, Mrs. 1500 offers practical strategies for maximizing savings and finding financial freedom on any income level. From reselling thrift-store finds to leveraging free educational resources and simplifying everyday expenses, she emphasizes thoughtful decision-making. It's not about how much you earn but how wisely you manage what you have. Read along with the original article(s) here: https://www.1500days.com/you-dont-have-to-make-100000-a-year-to-retire-early/ Quotes to ponder: "You can make $40K/year and retire when you’re 50. You can also make $120K/year and still have to work when you’re 75. It’s all about choices." "Don’t fall for a beautiful face or a hot body. Look at their decisions and see if they are something you can live with." Episode references: MIT OpenCourseWare: https://ocw.mit.edu/ Codecademy: https://www.codecademy.com/ Treehouse: https://teamtreehouse.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 10, 2024
2931: [Part 1] You Don’t Have to Make $100,000 a Year to Retire Early by Mrs. 1500 of 1500 Days on Frugality
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 2931: Mrs. 1500 from 1500Days.com shares her thoughts on early retirement, emphasizing that you don’t need to earn a six-figure salary to achieve it. Drawing from her own experience of living frugally, she offers practical tips, such as renting out spare rooms, maintaining a budget car, and delaying major expenses like children, all while finding joy in a simpler lifestyle. Read along with the original article(s) here: https://www.1500days.com/you-dont-have-to-make-100000-a-year-to-retire-early/ Quotes to ponder: "Anyone can stir things together in a bowl. Take a day to make up a bunch of breakfast sandwiches and put them in the freezer so you don’t have to stop at the drive-thru on the way to work because you woke up late." "Delay having children until you can afford them. Now I understand surprises happen, but there are ways to avoid these surprises." "Don’t attend weddings for people you don’t believe will stay together." Episode references: Retire by 40: https://retireby40.org Mr. Money Mustache: https://www.mrmoneymustache.com Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 10, 2024
2930: Heart Health and Your Retirement Well Being by Kathleen Coxwell on Cost of Healthcare Expenses
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 2930: Heart disease is the leading cause of death in the U.S., but it often goes overlooked in retirement planning. Kathleen Coxwell highlights that the risks of heart attack increase after retirement due to stress, loss of purpose, and lifestyle changes. By focusing on heart-healthy habits such as a proper diet, regular exercise, finding purpose, and having a detailed retirement plan, retirees can significantly improve both their health and well-being. Read along with the original article(s) here: https://www.newretirement.com/retirement/heart-health-and-your-retirement-well-being/ Quotes to ponder: "Heart disease is both the leading cause of death in the U.S. and the most preventable." "Retirees within a year of transitioning from work were 40% more likely to have had a heart attack or stroke than those who were still working." "The key to regular exercise is less the exercise than the regular." Episode references: Health and Retirement Study: https://hrs.isr.umich.edu Holmes-Rahe Stress Inventory: https://www.stress.org/holmes-rahe-stress-inventory Learn more about your ad choices. Visit megaphone.fm/adchoices
11 MIN
Nov 09, 2024
2929: Spending Less Versus Earning More by ESI of ESI Money on Building Wealth & Investment Advice
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 2929: ESI of ESIMoney.com explores the age-old debate of spending less versus earning more for financial success. Both strategies are essential: spending less yields immediate benefits, while earning more increases financial freedom over time. True financial growth comes from maximizing the gap between income and expenses by controlling spending and boosting earnings. Read along with the original article(s) here: https://esimoney.com/spending-less-versus-earning-more/ Quotes to ponder: “Earning more without controlling spending is a waste.” “The real magic happens when you raise income AND cut expenses.” “Decide what’s important to you and spend on that (in moderation).” Episode references: The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 08, 2024
2928: Buy This, Not That by Dr. Jim Dahle of White Coat Investor on Personal Financial Decisions for A Rich Life
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 2928: Dr. Jim Dahle offers practical advice on financial decisions that can lead to wealth-building instead of debt accumulation. By choosing used cars, index funds, and experiences over flashy purchases like new cars, actively managed funds, and expensive homes, Dahle highlights the importance of strategic spending for long-term financial success. Read along with the original article(s) here: https://www.whitecoatinvestor.com/buy-this-not-that/ Quotes to ponder: "Building wealth is about buying assets, not stuff." "The purchases that bring the most happiness are shared experiences with people we care about, not the stuff that fills our houses and garages." "You shouldn't buy a brand-new car until you're a millionaire." Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 07, 2024
2927: Greater Riches Than Wealth by Joshua Becker of Becoming Minimalist on Financial Life Advice
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 2927: Joshua Becker challenges the common pursuit of wealth, arguing that true riches lie beyond financial accumulation. By removing the desire for money, we unlock deeper happiness, security in relationships, and greater fulfillment in life. Becker invites readers to reassess their values, highlighting how generosity, contentment, and purposeful work can replace the relentless drive for wealth. Read along with the original article(s) here: https://www.becomingminimalist.com/richer/ Quotes to ponder: "Happiness has been available to us all along once we remove the desire for money." "People who want to get rich fall into a trap that often leads to ruin and regret." "Generosity is more about priorities than it is about income." Episode references: Zig Ziglar's Quote on Money: https://www.brainyquote.com/quotes/zig_ziglar_125708 Learn more about your ad choices. Visit megaphone.fm/adchoices
11 MIN
Nov 06, 2024
2926: Put Your Money Fears in Perspective by David Champion with Can I Retire Yet on Retirement Advice
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 2926: David Champion reflects on the fear many retirees face as they shift from earning income to relying on savings, particularly in volatile times. He highlights how historical resilience in financial markets, combined with flexibility in spending, can help retirees overcome excessive worry about their portfolios running dry. Champion’s own experience offers reassurance that most financial fears are overblown, even amid global crises. Read along with the original article(s) here: https://www.caniretireyet.com/put-your-money-fears-in-perspective/ Quotes to ponder: "Worrying is like paying a debt you don’t owe; I have spent most of my life worrying about things that never happened." "The fear of outliving my savings has abated. With five years of data in the rearview mirror, the upshot is that my net worth is 6.3% higher today than it was when I retired." "For many who still work, the only thing standing between them and their dreams is the perceived vulnerability of their nest eggs." Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 05, 2024
2925: Stop Asking for Permission AND What No “Financial Advisor” Will Ever Tell You by Derick Van Ness
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 2925: Derick Van Ness challenges readers to stop seeking external validation and start trusting their instincts to make bold decisions. He emphasizes that real success comes from carving your own path, rather than conforming to societal expectations, and highlights the opportunity cost of following the status quo, which often leads to missed financial and personal growth opportunities. Read along with the original article(s) here: https://www.biglifefinancial.com/blog/2018/6/16/stop-asking-for-permission & https://www.biglifefinancial.com/blog/2017/9/4/what-no-financial-advisor-will-ever-tell-you Quotes to ponder: "It's ok to be different. In fact, the world NEEDS you to be different. It's how you create unique value in the world and why people love you!" "Choosing your own path truly is the key to success. It's what has created the best parts of your life, so don't be afraid of it." "The opportunity cost of seeking too much external validation from the wrong people is that you end up creating a life that isn’t authentic to you." Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 04, 2024
2924: Slam Dunk Financial Planning by Jesse Cramer of Best Interest Blog on Investment Portfolio Advice
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 2924: Jesse Cramer explores how smart financial planning mirrors basketball strategy: take the guaranteed shot instead of chasing risky gains. He explains how narrowing the range of outcomes through careful planning like diversifying investments or giving yourself time leads to financial dependability and peace of mind, avoiding unnecessary risks. Read along with the original article(s) here: https://bestinterest.blog/slam-dunk-financial-planning/ Quotes to ponder: "There’s a 60% chance I live the exact lifestyle I want to in retirement. But no matter what, all three scenarios are acceptable to me, so there’s a 100% chance I’ll enjoy life throughout my retirement." "Reducing your range of outcomes has many benefits. In this particular basketball scenario, simple math supports it; 99% of 2 points is better than ~40% of 3 points." "Why risk something you have and need for something you don’t have and don’t need?" Episode references: Risk Parity Radio podcast: https://www.riskparityradio.com Learn more about your ad choices. Visit megaphone.fm/adchoices
13 MIN
Nov 03, 2024
2923: Conventional Money Advice Won't Create The Life You Want by Nacho Average Fro on Budgeting
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 2923: Jessica challenges conventional money advice, like the 50/30/20 rule, as ineffective for high-achievers. Instead of following one-size-fits-all budgeting models, she suggests decluttering financial priorities and creating personalized guidelines that align with individual goals and seasons of life. This approach helps achievers build a financial plan that truly supports the life they desire. Read along with the original article(s) here: https://www.nachoaveragefro.com/blog/50-30-20-budgeting-wont-help-you-build-the-life-you-desire Quotes to ponder: "You cannot build the life you want using someone else's rules." "Eliminating overwhelm is always the first step." "Your budget line items will drive your actions and subsequent habits and routines." Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 03, 2024
2922: Would You Take A Bet That Would Change Your Life? Probably Not. Here’s Why by Nir Eyal
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 2922: Nir Eyal explores the power of betting on yourself to change habits, highlighting a study that shows how putting money at risk can significantly boost success rates, particularly in quitting smoking. Despite its effectiveness, this approach remains underused due to fear of failure and the discomfort of risking money. Eyal delves into why people resist such bets and how understanding that resistance can lead to better self-discipline. Read along with the original article(s) here: https://www.nirandfar.com/habits-bet/ Quotes to ponder: "People who risked $150 of their own money to win a $650 bonus prize were dramatically more likely to quit smoking than those who used traditional smoking cessation methods." "Only 13.7% of the participants assigned to the deposit program chose to enroll in it, whereas 90.0% of those assigned to the reward program chose to enroll." "Behavior change is hard and people will inevitably fail." Episode references: New England Journal of Medicine study on smoking cessation: https://www.nejm.org Nudge: https://www.amazon.com/Nudge-Improving-Decisions-Health-Happiness/dp/014311526X Learn more about your ad choices. Visit megaphone.fm/adchoices
11 MIN
Nov 02, 2024
2921: How to Leave Your Financial Advisor in 5 Simple Steps by Andy Hill of Marriage, Kids and Money
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 2921: Andy Hill shares practical steps for parting ways with a financial advisor who may not be prioritizing your best interests. He outlines a straightforward, five-step guide to transition to a new advisor or self-directed investing. With insights on selecting an advisor, understanding fees, and minimizing emotional discomfort during the process, this guide empowers listeners to take charge of their financial future. Read along with the original article(s) here: https://marriagekidsandmoney.com/how-to-leave-your-investment-broker-in-5-simple-steps/ Quotes to ponder: "Try your best to remove emotion from the equation. You may hurt some feelings but this is your retirement we're talking about here!" "We didn't feel like we had a partner in our retirement success anymore. He was not performing his fiduciary duty." "Avoid commission-based financial advisors. They can be more interested in selling you products than advising you toward a successful retirement." Episode references: Econome Conference YouTube Channel - "Are FIRE and financial advisors incompatible?": https://www.youtube.com/watch?v=Qa7vLbUvPoI Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Nov 01, 2024
2920: 3 Steps to Help You Get Financially Unstuck by Jaime of Keep Thrifty on Personal Finance Habits
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 2920: Feeling financially stuck often comes from living according to external pressures, but Jaime shares how questioning assumptions, experimenting with lifestyle changes, and taking action can lead to financial freedom. By simplifying their lives, selling unused possessions, and reassessing their spending, Jaime and Chris created a path to flexibility, travel, and meaningful work. These practical steps offer a blueprint for anyone wanting to align their money with their values and dreams. Read along with the original article(s) here: https://www.keepthrifty.com/get-unstuck-financially/ Quotes to ponder: "It wasn’t until we became a family of five that we realized we were broken. We had a nice home and a good job but we found ourselves unhappy." "Once we created this vision, a vision that aligned with our own values, we found the strength to question more." "After asking ourselves all those questions we realized that we wanted to simplify our life and make room for our dreams." Learn more about your ad choices. Visit megaphone.fm/adchoices
9 MIN
Oct 31, 2024
2919: How Retirement Is Like College (And Why I Love Both) by A Purple Life on Financial Independence & Travel
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 2919: In her reflective piece, A Purple Life explores how both retirement and college offered her the ultimate freedom to control her time and activities. She draws parallels between the stillness, constant learning, and community of both phases but concludes that retirement, with the added benefit of financial security and self-direction, is even better than her college days. This comparison highlights the joys of autonomy and a balanced life. Read along with the original article(s) here: https://apurplelife.com/2023/07/11/retirement-is-like-college/ Quotes to ponder: "Now I’ve started doing nothing again in retirement. It was so peaceful." "Learning makes me happy and being able to follow my curiosity wherever it takes me is a wonderful gift." Learn more about your ad choices. Visit megaphone.fm/adchoices
12 MIN
Oct 30, 2024
2918: You Should Talk About Money by Robyn Goldfarb of A Dime Saved on Money & Relationships
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 2918: Talking about money has long been considered taboo, but Robyn Goldfarb challenges this notion by sharing her experience of how liberating it can be to discuss financial struggles openly. By removing the stigma surrounding money, we can foster support and understanding among friends. Goldfarb emphasizes that self-worth shouldn’t be tied to financial status, and encourages creating an atmosphere of openness without judgment when addressing money with others. Read along with the original article(s) here: https://adimesaved.com/talk-about-money Quotes to ponder: "I was so used to conflating my money or lack thereof with my own self-worth as if it was my fault that I was unemployed." "It was considered 'socially-off' actually to ADMIT something like that. The words 'I can’t afford it' were one of the most embarrassing things to say." "Once we realized that we were in the same boat, we were able to support each other." Learn more about your ad choices. Visit megaphone.fm/adchoices
9 MIN
Oct 29, 2024
2917: Why I Budget (And Why You Don't Have To) by Kalen Bruce of Money Mini Blog on Budgeting & Personal Finances
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 2917: Kalen Bruce explains why budgeting works for some but isn't necessary for everyone. While he personally finds value in budgeting for freedom and peace of mind, he acknowledges that many people can succeed without a budget if they prioritize key financial habits like saving for retirement, securing insurance, and preparing for large expenses. The choice comes down to what works best for your financial goals and lifestyle. Read along with the original article(s) here: https://moneyminiblog.com/budgeting/why-i-budget-and-why-you-dont-have-to Quotes to ponder: "I budget for the sake of freedom. I know that I can buy everything in my budget, when I spend every cent on paper before the month starts." "If you will set these things to automatically come off the top of your income, you will be set up for success, and you can freely spend the rest of your money on whatever you want." "You may hate budgeting. If so, welcome to the majority!" Episode references: Procrastinate on Purpose by Rory Vaden: https://www.amazon.com/Procrastinate-Purpose-Doing-Multiply-Time/dp/0399170634 Learn more about your ad choices. Visit megaphone.fm/adchoices
11 MIN
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