ChooseFI

<h4 id="heading-episode-summary">Episode Summary:</h4> <p class="leading-relaxed">In this episode, Sunny Burns shares his journey to financial independence. After leaving a lucrative government job, he discusses the strategic choices that led to his success in real estate, alternative income streams, and how he's living a fulfilled life with his family of seven. Sunny emphasizes the importance of financial education for children and gives practical strategies for similar aspirants.</p> <h4 id="heading-key-topics--timestamps">Key Topics & Timestamps:</h4> <ul class="list-disc pl-3"> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:00:00</button> Introduction</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Brad introduces Sunny Burns, bringing listeners up to speed on his prior appearances and his financial journey's highlights.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:01:31</button> Sunny's Journey to FI</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Sunny discusses his transition from a mechanical engineer position to achieving financial independence at 35 and living a 'stay-at-home family' dream.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:06:33</button> Homeschooling and Financial Education</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Importance of financial literacy for children.</li> <li class="leading-snug">Sunny's approach: establishing Roth IRAs for his kids and using the 'bank of dad' method for teaching savings (1% interest).</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:19:20</button> The Power of Real Estate</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Sunny explains the advantages of real estate investments, emphasizing control and cash flow.</li> <li class="leading-snug">His success with 11 rental units contributing significantly to his net worth.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:37:10</button> Traveling as a Family</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Insights on funding travel through Airbnb, which allowed Sunny's family to travel while earning more than they spend (e.g., $2,300 made by renting out their house while biking 360 miles).</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:46:37</button> Maximizing Travel Rewards</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Discussion on the importance of flexibility in travel plans to maximize travel rewards and points.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:54:10</button> Closing Thoughts</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Emphasis on the joy of being a stay-at-home family and living life on their terms.</li> </ul> </li> </ul> <h4 id="heading-key-takeaways">Key Takeaways:</h4> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Invest in Financial Education</strong>: Teach children about money management early using strategies like the 'bank of dad' method.</li> <li class="leading-snug"><strong>Optimize Income Streams</strong>: Consider renting out your home (e.g., through Airbnb) while traveling to subsidize travel expenses.</li> <li class="leading-snug"><strong>Real Estate as a Viable Investment</strong>: Maintain control over personal finances through rental properties which can produce consistent income.</li> <li class="leading-snug"><strong>Flexibility Equals Opportunity</strong>: Travel smartly—being flexible can maximize travel rewards and opportunities.</li> </ul> <h4 id="heading-actionable-steps">Actionable Steps:</h4> <ul class="list-disc pl-3"> <li class="leading-snug"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:07:28</button></strong> Implement a savings incentive model like the 'bank of dad.'</li> <li class="leading-snug"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:38:44</button></strong> Explore renting out your home on Airbnb as a potential income source while traveling.</li> <li class="leading-snug"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:20:31</button></strong> Look into real estate investment as a means to create a steady stream of passive income.</li> </ul> <h4 id="heading-key-quotes">Key Quotes:</h4> <ul class="list-disc pl-3"> <li class="leading-snug">"Achieving financial independence means spending quality time with family." - Sunny Burns [Timestamp: 00:53:37]</li> <li class="leading-snug">"Turn your home into a source of income while traveling." - Sunny Burns [Timestamp: 00:38:44]</li> <li class="leading-snug">"Financial education starts early; equip your kids with Roth IRAs." - Sunny Burns [Timestamp: 00:07:26]</li> </ul> <h4 id="heading-resources">Resources:</h4> <ul class="list-disc pl-3"> <li class="leading-snug"><a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.famvestor.com/" target="_blank" rel= "noopener noreferrer">Sunny's Site</a> - Wealth-building resources.</li> <li class="leading-snug"><a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.youtube.com/FamVestor" target="_blank" rel= "noopener noreferrer">YouTube Channel</a> - Family financial education insights.</li> <li class="leading-snug"><a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.airbnb.com/rooms/674641215111776694" target= "_blank" rel="noopener noreferrer">Airbnb Listing</a> - Look into Sunny's rental for travel information.</li> </ul> <h4 id="heading-discussion-questions">Discussion Questions:</h4> <ul class="list-disc pl-3"> <li class="leading-snug">What financial independence lessons resonated most with you from Sunny's journey? [Timestamp: 00:54:54]</li> <li class="leading-snug">How can we better involve our children in financial education? [Timestamp: 00:07:26]</li> <li class="leading-snug">What are your thoughts on using Airbnb as a funding strategy for travel? [Timestamp: 00:38:44]</li> </ul>

<h3 id="heading-show-notes">Show Notes</h3> <p class="leading-relaxed"><strong>Guest:</strong> Jasper Lee, PhD - Clinical Psychologist<br /> <strong>Episode Summary:</strong> In this episode, Jasper Lee discusses the psychological elements that impact the journey to financial independence (FI). He provides actionable insights on dealing with emotions and behaviors that influence financial decisions, emphasizing cognitive restructuring and behavioral activation as key strategies.</p> <hr class="max-w-56 mx-auto w-full" /> <h3 id="heading-key-takeaways">Key Takeaways</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Psychology in FI:</strong> 90-95% of the FI journey is psychological, with the remaining being about the mechanics of money.</li> <li class="leading-snug"><strong>Understanding Money Scripts:</strong> Early lessons about money shape adult attitudes; awareness of these scripts can help shift unhelpful patterns.</li> <li class="leading-snug"><strong>Cognitive Restructuring:</strong> Challenge unhelpful thoughts to foster a healthier money mindset.</li> <li class="leading-snug"><strong>Behavioral Activation:</strong> Engage in activities that bring joy and fulfillment to enhance emotional well-being.</li> </ul> <h3 id="heading-timestamps--insights">Timestamps & Insights</h3> <ul class="list-disc pl-3"> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:00:00</button> Introduction to Jasper Lee</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Overview of Jasper's qualifications and focus on the intersection of psychology and FI.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:02:30</button> Psychology and Financial Independence</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug"><em>Key Quote:</em> "Psychology comprises 90-95% of the FI journey."</li> <li class="leading-snug">Discussion on how our emotions and thoughts relate to financial strategies.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:20:50</button> Understanding Money Scripts</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug"><em>Key Quote:</em> "Childhood experiences shape our adult relationships with money."</li> <li class="leading-snug">The Klontz Money Script Inventory helps identify personal money scripts.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:32:45</button> Cognitive Restructuring Explained</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug"><em>Key Quote:</em> "Identify and challenge unhelpful thought patterns to reduce anxiety about money."</li> <li class="leading-snug">Techniques for restructing thoughts include evidence for vs. against, and balanced thinking.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 00:52:00</button> Behavioral Activation Insights</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug"><em>Key Quote:</em> "Engage in activities that enrich your life."</li> <li class="leading-snug">Importance of balancing accomplishment, pleasure, social interactions, and physical activities.</li> </ul> </li> <li class="leading-snug"> <p class="leading-relaxed"><strong><button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105"> 01:03:30</button> Closure and Resources</strong></p> <ul class="list-disc pl-3"> <li class="leading-snug">Suggested resource: <em>The Happiness Trap by Russ Harris</em> for further exploration of acceptance and commitment strategies.</li> </ul> </li> </ul> <h3 id="heading-actionable-takeaways">Actionable Takeaways</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Engagement Experimentation:</strong> Reflect on week-long activities and assess which bring joy. (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:15:28</button>)</li> <li class="leading-snug"><strong>Cognitive Restructuring Practice:</strong> Challenge and replace unhelpful thoughts with balanced perspectives. (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:32:18</button>)</li> </ul> <h3 id="heading-discussion-questions">Discussion Questions</h3> <ul class="list-disc pl-3"> <li class="leading-snug">What financial beliefs did you inherit from your childhood? (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:20:00</button>)</li> <li class="leading-snug">How do your thoughts affect your financial decisions? (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:32:45</button>)</li> </ul> <h3 id="heading-related-resources">Related Resources</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Klontz Money Script Test:</strong> <a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.bradklontz.com/moneyscriptstest" target="_blank" rel="noopener noreferrer">Take the Test</a> (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:20:50</button>)</li> <li class="leading-snug"><em><strong>The Happiness Trap by Russ Harris</strong></em>: <a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.amazon.com/dp/1459644740?tag=choosefi-20" target= "_blank" rel="noopener noreferrer">Read Here</a> (Timestamp: <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">01:03:30</button>)</li> <li class="leading-snug">Jasper Lee's website: <a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href="https://www.jasperleephd.com/" target="_blank" rel= "noopener noreferrer">jasperleephd.com</a></li> </ul>

<p class="leading-relaxed">In this episode, hosts Brad, Emily W, and Emily C delve into the importance of building meaningful friendships and adding adventure to life. They discuss the concept of an "adventure list," embracing vulnerability, and the creativity that can stem from constraints. The conversation encourages listeners to engage in various levels of travel experiences, stepping out of their comfort zones to enrich their lives.</p> <h3 id="heading-key-topics-discussed">Key Topics Discussed</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Introduction to the Episode</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:00:00</button></li> <li class="leading-snug"><strong>Meet the Emilys</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:01:05</button></li> <li class="leading-snug"><strong>The Concept of Friendship in FI</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:02:40</button> <ul class="list-disc pl-3"> <li class="leading-snug">The depth and sincerity of friendships formed within the FI community.</li> </ul> </li> <li class="leading-snug"><strong>Vulnerability as a Superpower</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:14:01</button> <ul class="list-disc pl-3"> <li class="leading-snug">How sharing one's authentic self fosters deeper connections.</li> </ul> </li> <li class="leading-snug"><strong>Creating an Adventure List</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:27:15</button> <ul class="list-disc pl-3"> <li class="leading-snug">Techniques for brainstorming and planning new experiences.</li> </ul> </li> <li class="leading-snug"><strong>Four Levels of Travel Experiences</strong> <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:31:01</button> <ul class="list-disc pl-3"> <li class="leading-snug">A framework ranging from simple sightseeing to immersive living.</li> </ul> </li> </ul> <h3 id="heading-timestamps-for-key-moments">Timestamps for Key Moments</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>00:09:19</strong> - "Give yourself permission to be a beginner."</li> <li class="leading-snug"><strong>00:25:56</strong> - "How can I say yes?" - Emphasizing the importance of embracing opportunities.</li> <li class="leading-snug"><strong>00:37:44</strong> - "Constraints can indeed be a gift."</li> <li class="leading-snug"><strong>00:53:29</strong> - "The more you say yes, the more you'll want to say yes."</li> </ul> <h3 id="heading-key-insights">Key Insights</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><strong>Deeper Friendships</strong>: The FI community encourages more profound connections by facilitating personal growth and adventure.</li> <li class="leading-snug"><strong>Adventure Lists</strong>: Creating a list of adventures helps focus intentions and set actionable goals for trying new experiences.</li> <li class="leading-snug"><strong>Vulnerability in Relationships</strong>: Sharing your true self invites deeper friendships and encourages others to do the same.</li> <li class="leading-snug"><strong>Travel Experience Framework</strong>: Understanding different levels of travel—from simple adventures to immersive experiences—can guide you in planning meaningful engagements.</li> </ul> <h3 id="heading-actionable-takeaways">Actionable Takeaways</h3> <ul class="list-disc pl-3"> <li class="leading-snug">Create your adventure list to enhance your life experiences. <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:27:15</button></li> <li class="leading-snug">Practice saying yes to new opportunities regularly. <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:25:56</button></li> <li class="leading-snug">Embrace vulnerability to strengthen friendships. <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:14:01</button></li> </ul> <h3 id="heading-related-resources">Related Resources</h3> <ul class="list-disc pl-3"> <li class="leading-snug"><a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href= "https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358567092?tag=choosefi-20" target="_blank" rel="noopener noreferrer">Die With Zero by Bill Perkins</a></li> <li class="leading-snug"><a class= "text-blue-600 no-underline dark:text-blue-300 mb-[4px] font-semibold leading-7" href= "https://www.amazon.com/Retire-Often-multiple-adventure-financial/dp/1804090980?tag=choosefi-20" target="_blank" rel="noopener noreferrer">Retire Often by Jillian Johnsrud</a></li> </ul> <h3 id="heading-discussion-questions">Discussion Questions</h3> <ul class="list-disc pl-3"> <li class="leading-snug">What does your adventure list include? <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:27:15</button></li> <li class="leading-snug">How can constraints in your life lead to greater creativity? <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:37:44</button></li> <li class="leading-snug">What experiences have taught you the value of vulnerability? <button class= "px-4 py-1 font-bold text-blue-600 transition duration-200 ease-in-out transform bg-blue-100 rounded hover:text-blue-800 hover:bg-blue-200 hover:scale-105">00:14:01</button></li> </ul>