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 2661:
In this episode, Diania Merriam narrates Paula Pant's blog post on AffordAnything.com, discussing three unconventional approaches to significantly boost savings. Paula challenges conventional financial advice, suggesting an 80/20 budgeting approach, earning more through side gigs, and making earth-shattering changes to cut back on significant expenses.
Read along with the original article(s) here: https://affordanything.com/3-unconventional-ways-super-charge-savings/
Quotes to ponder:
"Earning extra money, and saving every dime of that excess income, is the single fastest and best way to super-charge your savings rate. Why? In one word: Habit."
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2661: 3 Unconventional Ways to Super-Charge Your Savings by Paula Pant of Afford Anything

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 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 financial tips; it’s a daily companion that guides you towards financial freedom and savvy money management, all delivered with Diania's trademark enthusiasm and expertise.

Listen now, and become an OLD friend--your optimal life awaits...

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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 2726:
Erik Carter of FinancialFinesse.com explains often overlooked aspects of financial planning, beyond the basics of debt, savings, and retirement. He highlights critical but commonly neglected areas such as life insurance, investment diversification, umbrella liability insurance, long-term care insurance, and estate planning, illustrating how being proactive in these areas can safeguard your financial future.
Read along with the original article(s) here: https://www.financialfinesse.com/2013/02/21/whats-probably-missing-from-your-financial-plan/
Quotes to ponder:
"Too often, people just have whatever their employer provides to them, which is usually equal to their salary. The bad news is that if you need to provide income to dependents, this won’t be enough."
"One of the biggest investment mistakes I see is having too much in company stock."
"Just as we don’t like to think about death, we don’t like to think about having to spend time in a nursing home someday. But if we live until age 65, the odds are more likely than not of needing long-term care at some point in our lives."
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2726: What’s Probably Missing From Your Financial Plan by Erik Carter of Financial Finesse

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 2725:
Explore the profound impact of cognitive biases on our decision-making processes, especially in high-stakes scenarios like financial investments. This episode, inspired by a Mad Fientist article, delves into everyday examples and psychological experiments that reveal our subconscious preferences for risk over certainty, influenced by how choices are framed.
Read along with the original article(s) here: https://www.madfientist.com/cognitive-bias/
Quotes to ponder:
"If the problem is framed as a loss, as it is in the island #1 scenario, we become risk-seeking."
"Your brain is useful when setting up an investment plan but it’s not useful when you execute that plan."
Episode references:
The Simple Path to Wealth by JL Collins: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926
Predictably Irrational by Dan Ariely: https://www.amazon.com/Predictably-Irrational-Revised-Expanded-Decisions/dp/0061353248
You Are Not So Smart by David McRaney: https://www.amazon.com/You-Are-Not-So-Smart/dp/1592407366
Thinking, Fast and Slow by Daniel Kahneman: https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555
Sources of Power: How People Make Decisions by Gary Klein: https://www.amazon.com/Sources-Power-People-Make-Decisions/dp/0262611465
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2725: Cognitive Bias by The Mad Fientist on Financial Investments & Investing Risk vs. Reward

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 2724:
J. Money shares his journey and insights on achieving the first $100,000 in net worth, a pivotal financial milestone. He emphasizes the overhaul of mindset and financial habits necessary to reach this goal and how this foundation sets the stage for further financial successes. Highlighting the importance of patience and perseverance, this episode provides actionable advice for anyone looking to improve their financial situation.
Read along with the original article(s) here: https://www.budgetsaresexy.com/the-first-100-thousand-is-the-hardest/
Quotes to ponder:
"You can’t make it to a million or a billion without first hitting $100,000, but even more than that - it requires a complete overhaul of both your money and your mindset."
"It took me 28 years to finally start paying attention."
"Once you’ve got your mind right it’s all a matter of pouring in the fuel and letting time (and sometimes luck) take over from there."
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2724: The First $100,000 Is The Hardest by J. Money of Budgets Are Sexy on Building Wealth & Investing

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 2723:
Delve into the story of Bill Hwang and his astonishing $20 billion loss through Nick Maggiulli's insightful exploration, "When Wealth Isn’t Real." Maggiulli challenges our perceptions of wealth, illustrating through Hwang's debacle and other examples that much of what we consider financial substance may be mere illusion, prompting a rethink on what truly counts as economic value.
Read along with the original article(s) here: https://ofdollarsanddata.com/when-wealth-isnt-real/
Quotes to ponder:
"In some cases, wealth isn’t what it seems. We can see it. We can count it. We can write it down on a piece of paper. But as soon as we go to touch it, it disappears."
"Warning against the use of 5x leverage would be like warning against the dangers of getting injured while playing in the NFL. It is a risk, but not one that 99.9% of people have to worry about."
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2723: When Wealth Isn’t Real by Nick Maggiulli of Of Dollars and Data on Personal Financial 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 2722:
Amy Ongaro's "Overcoming Procrastination With The Habit Rule Of Half" offers a unique take on tackling procrastination through a simple, yet profound, strategy: the Habit Rule of Half. By consistently breaking down tasks into smaller, more manageable pieces, Ongaro introduces a compassionate approach to productivity that respects our internal resistances and promotes sustained progress.
Read along with the original article(s) here: https://www.breakthetwitch.com/habit-rule-of-half/
Quotes to ponder:
"Writing things down on a to-do list helps me to prioritize and stay organized and productive."
"If a task is left uncompleted at the end of the day, cut it in half and add it to the next day's list."
"The Habit Rule of Half can be a more compassionate approach to making progress on the things we feel resistant towards."
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2661: 3 Unconventional Ways to Super-Charge Your Savings by Paula Pant of Afford Anything

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