Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core business strategy to equip you with the knowledge and inspiration you need to build financial independence.
Moving is an extremely effective—albeit disruptive—way to improve certain aspects of your life, both financially and personally. All over the world there are millions of people who understand very clearly that if they can simply move to a country with a healthier, more robust economy. But what country do you choose? For hundreds of thousands of people, Canada is an obvious solution. Today I've invited Brandon Miller, owner of Maple Immigration on to the show to discuss immigration into Canada. We speak about immigration broadly and then specifically with regard to Canada. Enjoy! Joshua Get a free copy of Brandon's book "Second Passport: Your Guide to a Secure Alternative Home for You and Your Family Just in Case!" by emailing Brandon: firstname.lastname@example.org Brandon's website: https://mapleimmigration.ca
Friday Q&A: 1:30 What steps can I take to protect my privacy and assets as I get into real estate investing? 17:22 Should I take an early $100,000 IRA distribution due to the CARES Act? 24:30 WWJD if his global trip were cut short and he were trying to build an online business? 44:00 How can I build a sideline bee business that my children can help me with? 1:02:00 How can we reconcile the value of being a modern nomad with the value of local community? To join next week's show, support the show on Patreon: https://patron.com/radicalpersonalfinance
Live Friday Q&A: 2:00 Do I stick out my job and current career because it's profitable and comfortable or do I pivot to something new while I'm young? 16:20 Should I do Infinite Banking as part of my retirement plan? 38:40 Should I go to college? 59:10 My 79-year-old father needs income. What should he invest in? Join next week's show here: https://patreon.com/radicalpersonalfinance Listen to 227-The Five Benefits of College and Radical Ways to Exploit Them
Increasing your language skills can help your brain, your social life, and your wallet. In today's show, I give you some tools I have found to be useful in my own foreign language studies. Joshua Fluent Forever by Gabriel Wyner https://fluent-forever.com/book/ Anki https://apps.ankiweb.net Lingq: https://www.lingq.com/en/
This episode was first published in May 1, 2017. It's important. Please listen. ------------------------------------------------------ If you get arrested, you can kiss anywhere from thousands to hundreds of thousands of dollars good-bye. You need insurance against that eventuality. Today, I'm going to teach you why it's vitally important that you arrest-proof yourself and how to do it. Joshua Arrest Proof Yourself book: http://amzn.to/2ph7Xos Don't Talk to the Police video: https://youtu.be/d-7o9xYp7eE You Have the Right to Remain Innocent video: https://youtu.be/gpkc2FZFR5k BUSTED: The Citizen's Guide to Surviving Police Encounters: https://youtu.be/yqMjMPlXzdA
Time for live Q&A today! 3:15 Does changing my credit mix improve my credit score? 8:50 How can I find a good real estate deal? 14:48 My parents are in their early 50s and not saving money. How can I help them? 32:37 Should I buy life insurance on the lives of my children? 46:37 Should I buy a rental house first or my forever house? 50:46 How do I prioritize my financial goals? 55:15 We're having a baby! What should I know? 1:18:24 Where should I keep my emergency fund? Enjoy! Joshua
It's Friday! Today we cover:
1:30 - What does Joshua think about the long-term future of the USA?
25:08 - Is Bank on Yourself / Infinite Banking a good idea?
56:13 - Should I get a Master's Degree right now or a job?
1:13:00 - How can I start a forum to meet smart people?
p.s., to join me on next week's Q&A show, join me on Patreon: https://patreon.com/radicalpersonalfinance
Think you can't have a traveling adventure simply because you don't have any money? Well, if you think you can or you think you can't, you're right. If you'll adjust your mindset a bit, you can head out on a traveling adventure right now.
It's Friday! On today's live Q&A show we discuss:
1:10 Should I keep a credit card with an annual fee because it helps my credit score?
5:22 Should I pay off my mortgage right now or wait so I can invest in rental real estate?
10:59 Will the rental market be in demand again in the future?
12:22 Should I refinance my 15-year mortgage to a 30-year in order to have more cashflow?
15:20 What should a Radical Personal Finance live event look li
It’s Friday! On today’s Q&A we cover:
1:23 - Should I take the HELOC money out and put it into my bank account?
4:57 - Should I defer my mortgage payments if possible?
6:30 - How does this economic crisis affect my FIRE plans?
16:52 - What should an 18-year-old do with $56,000 in his bank?
32:49 - Should we leave our high-income job to fulfill our dream of moving to the country?
48:24 - How should I give away $40,000 to $50,000 per year effectively?
We're in a recession. It hasn't been "officially" acknowledged yet, but it certainly will be.
So let's talk about how you can profit from this situation.
With the right attitude and the right decisions, you can come out of this difficult time positioned for greater and greater success.
Let's talk about how,
It's Friday! In today's Q&A show we cover:
1:00 Joshua's predictions on COVID-19
17:32 How to be positive during COVID-19
27:00 How to walk away from a working class mentality and adopt a rich mentality
52:12 Is it ethical for me to take unemployment insurance?
1:03:13 Is this a good time to go into the market?
I'm available for private consulting. Hourly rate is discounted from $400 to $250 until the end of March with code MARCHMADNESS Email me: email@example.com
Courses are 20% off with code "CORONAVIRUS" at www.radicalpersonalfinance.com/store and at www.radicalpreparedness.com
Perhaps, like me, you're having a hard time getting your brain to accept what you're seeing around you and on the news and you're trying to figure out what's going on.
In working through this problem, I decided to chart out my Best-Case Scenario and my Worst-Case Scenario for both the medical problem of the COVID-19 pandemic and the economic outlook.
I figured I might as well turn the microphone on and let you listen in.
I hope it's useful.
It's Friday! Time for Q&A. In today's show we cover:
1:30 - How should I prepare for buying rental real estate in 2 years?
10:40 - Should I contribute to retirement savings while saving a down payment?
13:15 - Should I use a Roth IRA to accumulate a down payment?
18:00 - If I refinance my mortgage to get lower rates, what should I do with the money?
26:15 - How can I make the transition from a lucrative career to a side hustle?..
I woke up this morning and felt like I've been overly optimistic in my tone recently. I genuinely feel optimistic, but that's not because I don't think the situation is very dire. It is. In today's show, I try to share with you why I feel optimistic but I seek to give you a stern warning not to let my optimism lead to your inaction. Joshua
Quick interim show to share a few of my thoughts on the emerging COVID-19 events. Fascinating study in human psychology going on now. Pay attention! Coronavirus: Why You Must Act Now https://medium.com/@tomaspueyo/coronavirus-act-today-or-people-will-die-f4d3d9cd99ca The Korean clusters: How coronavirus cases exploded in South Korean churches and hospitals https://graphics.reuters.com/CHINA-HEALTH-SOUTHKOREA-CLUSTERS/0100B5G33SB/index.html
Friday Q&A show:
1:35 I'm 25 years old and ready to upgrade my lifestyle. Can I and still get rich?
14:30 Should I pay the big money for a Dale Carnegie course instead of Toastmasters?
22:10 Is it possible to be a financial advisor when you don't like Modern Portfolio Theory?
32:15 Should I stock up on fish antibiotics for an emergency?
37:15 Should I stop investing in a 401(k) if I don't trust the government promi...
It's Friday! Today we do live Q&A:
2:00 How should I support my girlfriend's desire to get a Master's degree in international development?
10:29 How should we make an investment plan for lowering our household income due to changing family circumstances?
16:55 Should I cancel my daughter's whole life insurance policy and do something else with the money?
38:40 Should I keep my mortgage and plan to pay it off with my stock market investments so I can retire early?
The most important economic collapse ongoing in the world right now is Venezuela. Today, I bring you an interview with a friend of mine who is actively working inside Venezuela to bring relief and he's here to share with you his experiences of what things are actually like inside Venezuela. Joshua
It's been a month since I first spoke to you about the Coronavirus, now called COVID19. In today's episode, I double-down and share with you my concern and how I think you should prepare for the potential economic ramifications of global pandemic.
Join my prepping class tonight! www.RadicalPreparedness.com
Today, we reach the seventh, capstone Ring of Freedom: Financial Liberty. When you are Financially Independent (able to live your desired lifestyle on the income from your investments), you have reached a genuinely huge level of personal freedom. Joshua www.RadicalPreparedness.com
It's Friday! That means a live call-in show for Patrons. Sign up here: http://patreon.com/radicalpersonalfinance
Today, we cover:
I just left my job. Should I break my lease and live in my Prius?
I'm fascinated by the reports and videos coming out of Wuhan, China. I've never before seen a city of 11 million people shut down for a quarantine. I don't think it's every been done before! But it's amazing to watch.
Today, I want you to think about what would happen to you and your family if you were quarantined for an extended time.
If I sent you home and said you and your family had to stay there for the next 30 days, could you do it? Would you survive? Would you be comfortable?
In today's show I share with you some fat loss and money lessons learned from my 70 pounds of weight loss over the last 6 months.
I hope you'll find some nuggets to help you get skinny and rich as well.
I want you to live as a free man. So in this series, I'm working to give you some ideas as to how you can achieve a very high level of freedom while you're on your way to financial independence.
Today, I'm going to share with you the dramatic impact that home education can make on your family's personal liberty.
In this series, I aim to give you some ideas that have helped me to develop an extremely free lifestyle, even though I'm not yet financially independent.
Today, I'm going to share with you one of the single greatest assets that I enjoy in my quest for personal freedom: a stay-at-home wife.
This lifestyle choice is one of the things that has most meaningfully contributed to the joy and freedom that my family experiences.
It's also helped us massively financially.
Consider it for yourself!
I want you to experience a lifestyle of freedom and liberty, in every sense of the word. So today we begin a new series called "Seven Rings of Liberty."
Achieving financial independence will make you more free. But there are a bunch of things that you can do along the way that will greatly increase your freedom.
Today, we discuss Spiritual Liberty. If you are personally, spiritually free, you can enjoy peace and joy and contentment in your situation, no matter what the details...
It's Friday! Time for Q&A:
3:40 Do I need liability insurance for my business?
35:45 How can I get good life insurance rates if I'm fat?
1:20:25 What should I do for $300,000 of cash I'm saving for a business investment very shortly?
1:22:30 Why are "high finance" people so dismissive of people who like dividend investing?
Join me for next week's call by supporting the show on Patreon. www.patreon.com/radicalpersonalfinance
It's a live Q&A show today! We cover:
1:30 - How can I build career confidence and skills when I don't have much time?
30:15 - I just got married; what is good advice for buying a house?
41:35 - How can I make sure that my 401(k) money is safe in case of recession?
54:15 - How can I invest into my local community?
1:12:45 - Should investors pay 1% to hire a financial advisor?
A new decade is dawning and my hope is that this decade be the best one yet!
But if you're going to tackle this decade proactively, you'll need to begin by dreaming a bit about what you'd like to accomplish this coming decade.
Let's get started,
REMEMBER: save 50% on all my courses until midnight tonight using code CYBER50 at www.RadicalPersonalFinance.com/store
On today's show we veer away from financial independence and into living well today with a discussion of the Ketogenic diet.
I've invited Jack Spirko, host of The Survival Podcast on today's show to discuss his recent weightloss journey.
He has lost a significant amount of body fat in a short period of time and together we share ideas, tips, and experiences to help you achieve fat loss as well.
Over the last 5 months or so I've lost over 50 pounds of fat. This fat loss has significantly improved the rich quality of my life.
I'd like to share a few words of experience and encouragement with you to help you on your own fat loss journey.
p.s., remember code "CYBER50" saves you 50% off all my courses through Monday at www.RadicalPersonalFinance.com/store
I'm hosting a 50% off sale on all my courses this weekend only. Use coupon code "CYBER50" at www.RadicalPersonalFinance.com/store before midnight Monday. I'm also offering a 30% discount on private consulting work booked by Monday. Email me at Joshua@RadicalPersonalFinance.com before midnight Monday to book a consulting call. Enjoy the savings! Joshua
Today's guest recently had extensive shoulder surgery done and he saved thousands by choosing to have the surgery in Mexico rather than the USA. We discuss the details of his experience as well as his personal financial independence success story.
Today, we do Friday Q&A:
00:00 Should I quit my job while I look for a business to buy or wait until I find one?
13:00 How should I go about becoming a minority partner in a business?
26:28 What is the best way for my dad to give me a rental property he doesn't want anymore?
41:00 Should I refinance from a 15-year mortgage to a 30-year mortgage? (And how can I progress in my career?)
1:00:17 Should I sell my stocks in anticipation of a market decline?
On today's Friday Q&A, we cover:
1:45 The value of a sabbatical
17:45 Homeschooling vs. private schools
46:30 Modern Portfolio Theory
If you'd like my recommended reading list for financial freedom, go to http://RadicalBookList.com
Reading can provide you with all of the knowledge you need to crush some very large goals in a very short time.
But you need to know how to read effectively.
Today, I teach you how.
Get my recommended reading list here: http://RadicalBookList.com
If you were discharged from the military for cocaine use, would you be able to seamlessly move into a $600,000/year job?
If not, you should consider building your influence a bit more!
In today's show I'll give you some ideas to help you develop this influence.
Can you imagine starting a business when you've been laid off from a job and you have many young children in the house? My guest today, Tim Schmoyer, has done just that. And he has prospered through the process.
1:00 Would you like to come to a 3-day seminar with fellow listeners?
10:11 How can I prepare for healthcare risk?
24:50 How do I calculate the financial costs/benefits of moving states?
35:30 How do I help my parents who don’t have much money build a retirement plan?
53:05 How can I market my physical product?
1:06:45 Should I use whole life insurance as the cash component of
My guest on today's show moved from India to the USA as a young man. Starting with no money, he became financially independent in about 12 years.
In today's interview we dig into the strategies and tactics that worked for him.
John's website: www.FinancialFreedomCountdown.com
Today, we finish out the 3-part series on preparing for layoffs in the coming recession. Today's show will be useful to you, even if you just got notice of your layoff and didn't do anything to prepare for it beforehand. The major theme of today's show is that you need to take appropriate action with appropriate speed. If you're stuck with little savings and no preparation, that means take massive action, now! If you've planned a bit better in advance, it means be strategic and thoughtful. We discuss: The impact of self-confidence on your job hunt. The importance of having work now and not being unemployed for a long time. How to take massive action on your job hunt for quicker results. What types of approaches are most successful for job hunters. Some radical strategies you can plan for that will enable you to simply wait out and enjoy the recession instead of being stressed by it! Enjoy! Joshua Many If Not Most Employers Hunt for Job-Hunters in the Exact Opposite Way from How Most Job-Hunters Hunt for Them http://www.jobhuntersbible.com/jobs/view/what-to-beware-of-in-searching-for-job-vacan-2
Yesterday, we talked about ways to avoid losing your job in the coming recession. But obviously there are factors beyond your control which might result in your being laid off, even though you've done everything "right." So, you need a backup plan. Don't wait and wonder what you'll do. Make a simple plan now for what you'll do. Think about some different scenarios and play some mental games with yourself. That way, you'll be able to better respond to events instead of being shell-shocked by them. Today's show covers: The importance of planning to avoid emotional stress when you get laid off. The direct impact of losing your income and how to plan for it. The impact that losing your group benefits can have on your financial life. Why you should consider establishing lines of credit before you need them. How you can stockpile both money and the simple necessities of life. The simple things you can do that will make it much easier to get your next job. The importance of proactively building and maintaining a network. How thinking like a consultant will help you now and help you later. Enjoy! Joshua The Queen of Versailles Living On Our Food Storage: One Family's Experience Of Living Without Income For A Year
Originally released May 13, 2015. And just as important today. ------------------------------------------- For most of us, our jobs are the economic engine that drive every aspect of our financial plan. One of the worst things that can happen is to lose a job. If the engine on your car dies, you're going to be stuck by the side of the road for a while. That's not pleasant for anyone, even if you're stuck in a safe area. But, if you're driving up a mountain (paying off debt and digging yourself out of a hole), having your engine die can be disastrous. And, if you have a destination in mind (financial independence), losing the engine in your car will at least delay you from reaching your destination. So, the key is plan in advance to not lose the engine. Make sure you're doing the things you need to be doing now to avoid being laid off. Obviously, you can't guarantee that you'll never be laid off, but you can do a lot to improve your possibilities! On today's show, we cover: The need to proactively improve your position within your company, your company's position within the industry, and your industry's overall prospects in advance. Some ways to know if you've got a big target on your back or a small target on your back with the HR people are figuring out who to cut. The importance of competing with your fellow employees and of collaborating and cooperating with them and why both are valuable. Ways to stand out and produce up to 4x the output of your fellow employees. Enjoy the show! Joshua Business Insider: 13 Things Everyone Does At Work That They Don't Want Bosses To Know About Federal Reserve: Average Annual Hours Worked by Persons Engaged for United States
It's official: the Yield Curve on US Debt is inverted. That's a pretty good indicator that recession is in our future. So, today I want to tell you how to prepare for the coming recession. Enjoy! And do. Joshua
1:30 How does Joshua use YNAB on a daily basis?
17:30 How has the pursuit of privacy cost you?
30:30 Should I have kept my inherited property as separate property instead of community property?
43:00 How can I get started prepping?
I'd like to invite you to meet up with me on Tuesday, September 3 in Washington, DC, USA. If you'd like to connect, please email me and I'll give you all the details. Email me: joshua at radical personal finance dot com. Joshua
It seems like many of the prominent voices in the FIRE movement are single individuals or childless couples. But many of us have children or want to have children. Does that mean that we will fail in our attempts to become Financially Independent? Are you doomed to choose between FIRE or children?
Today, I'll give you my answers. (Spoiler: you can FIRE and have children too!)
We live in interesting times. It seems that most of us could list off several things that our government does with our tax money that we find offensive. But how should Christians deal with the morality of having their tax money used to support immoral activity? Should Christians participate in tax strikes and tax protests?
I'd like to invite you to a public Radical Personal Finance meetup that I'm hosting this Thursday evening, August 22, 2019 in Toronto, Canada. Instructions: email me using the address Joshua at Radical Personal Finance dot com and I will respond with the specific details of where and when. Hope to see you soon! Joshua
I've talked a lot about education over the years...in this episode I'll tell you what we're doing with our children and talk about some philosophies that have been influential on me. And I'll tell you what I got wrong in the past.
Ask your average financial advisor how to invest for your children's future and he'll likely start pulling out brochures for a 529 plan.
Is there anything wrong with a 529 plan? No.
But is that really the most effective use of your money?
Only if you don't have any better ideas.
So let me give you some to ponder! Here are 12 Much More Interesting™️ Ways to Invest In Your Children!
Today we discuss Qualified Opportunity Zones, a legitimately new way for you to potentially save on capital gains taxes.
Map of designated opportunity zones:https://www.enterprisecommunity.org/opportunity360/opportunity-zone-eligibility-tool
There is an important piece of legislation that has passed the House of Representatives and is being considered in the Senate. It's technically known as H.R. 1994 "Setting Every Community Up for Retirement Enhancement Act of 2019."
It has some changes that are potentially helpful to you; and some that may destroy the value of your qualified accounts.
In order to build wealth over your lifetime you need to #InvestWisely. But, how? How do you do it? What should you invest in?
Today, we discuss that question with an active hedge fund manager named John Medford. He and his team manage a large fund with an impressive record.
And, in this episode, we discuss why you probably shouldn't bother to try competing with him.
1:30 What is the fiscal future of the USA in light of the Democratic candidates' debate this week?
19:12 How could I do financial coaching for the not-yet-wealthy?
35:20 What are the benefits of international living?
41:15 Should I be a dividend investor or index fund investor? And how can I simultaneously be a moral investor?
1:15:45 Should I quit my job because I can?
1:33:30 How could I invest differently than just real estate and mutual funds?
A month or so ago, I raised money from the listeners of RPF with the goal of helping with the crisis in Venezuela. We ended up raising about $11,000 from the audience, which I converted to cash and sent it in to help.
In this audio, we give you a report of what we did with the money and talk a bit about the current situation in Venezuela.
PO Box 11002
Riviera Beach, FL 33419
Friday Q&A today!
1:54 Should I sell my cryptocurrency to pay off my IRS debt?
10:30 How should I readjust my investments to plan for future economic uncertainty?
26:09 How should I think through my finances in the midst of possible divorce?
59:46 What do I need to do with my US-based investments while I move to Spain?
1:08:00 My wife and I are having a baby and are interested in birth tourism. How should we analyze the possibilities?
If you care about asset protection planning, there's hardly any reason for you to own an asset in your own name. So, you'll have to get used to titling asset in slightly different ways.
Today, I teach you why and how.