Goal Setting for 2026 | Ep 584

Summary of Goal Setting for 2026 | Ep 584

by ChooseFI

59m•February 2, 2026
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Overview of Goal Setting for 2026 | Ep 584 (ChooseFI)

This episode is a crowdsourced/communal goals special — the hosts (Jonathan & Brad) play listener voicemails and comments about their 2026 goals, respond with tactical perspective, and roll out two community initiatives (a 30‑day money challenge and increased use of the ChooseFI app/local groups). The conversation covers practical saving moves, community-building, FI lexicon (CoastFI, BaristaFI, Lean/Fat FI), tax/timing notes, and personal goals from both hosts.

Key takeaways

  • The episode emphasizes action and accountability: listeners’ real goals are used as seeds for community experiments and future episodes.
  • ChooseFI is pushing community-first features: the ChooseFI app (now in app stores) and local group event tools helped double attendance in at least one city.
  • New community call-to-action: a 30‑day “money challenge” to find 10% savings; sign up via choosefi.com/login and report back for an after‑action episode.
  • Tactical, practical tips discussed: using TrueCar (U.S. News) to get dealership offers, buying rental cars (Hertz) for used‑car savings, and thinking strategically about tax/timing for giving and account allocation.
  • FI is not binary — off-ramps like CoastFI and BaristaFI let you reduce work intensity earlier and still reach long-term goals.

Listener voicemails & goals (examples)

Each voicemail is followed by host reactions and tactical commentary.

Sam (Alexandria, VA)

  • Goal: Build local FI friendships; organized four walking events in the D.C. metro area — 14 signups already.
  • Host notes: Use the ChooseFI app to create events; local calendars and crowdsourced free activity lists add value.

“I’m doing quite well” (username)

  • Goal: 70% savings rate in 2026, saving aggressively to buy a home and potentially retire from a physical therapy career in late 2027.
  • Host notes: Framing saving as “buying freedom.” The hosts plan to run the 30‑day money challenge partly to capture stories like this.

Jenny

  • Goals: Save $50,000 for retirement; set aside a car sinking fund; move 25% of an older child’s 529 to cash as college approaches; read 100 books; plan maid‑of‑honor duties; meal‑prep with kids for health.
  • Host notes: Grocery/food planning often holds large, low-friction savings; moving 529 funds to cash before use is a sensible tactical move.

Dan (outside Philadelphia)

  • Situation: 45 years old, ~23× annual spending saved; 3× in taxable accounts and 3× in Roth contributions.
  • Goals: Direct more savings to taxable accounts in 2026, consider barista FI, and explore Roth conversions.
  • Host notes: Tax-bucket planning matters when you’re near FI. Roth conversion ladders require planning for the multi‑year window (often five years) and accessible funds. In many FI scenarios, traditional (pre‑tax) accounts remain valuable.

Lottie (UK)

  • Goal: Reach “half FI” (50%) and practice enjoying allocated spending (booked a family cottage trip). Wants to say “no” more and “yes” to joyful things; working on fitness and putting herself out in the community.
  • Host notes: “Spending is a skill” — learning to spend well and enjoy money is as important as learning to save. FI mentalities translate globally; some tax rules differ.

Wilson (Southern California)

  • Update/Goal: Negotiated a layoff in 2025 to be home more; completed CFP coursework and plans to pivot into financial advising (career change from pharmacy).
  • Host notes: FI enables career pivots and better alignment with life priorities.

Concepts & lexicon explained

  • CoastFI: Save enough early that your portfolio will grow (via market returns) to your target by retirement without further contributions — you then “coast.”
  • BaristaFI: Hit an amount where part‑time/low‑stress paid work (e.g., barista, part‑time job) plus investment income covers expenses, enabling meaningful downshifts before full FI.
  • LeanFI vs. FatFI: LeanFI equals the 25× of a minimal budget (bare essentials); FatFI refers to a more comfortable/luxurious FI target.
  • Roth conversion ladder: Strategy to move pre‑tax money into Roth accounts to enable tax‑free withdrawals later; requires planning for funding the conversion window.
  • Rule of 72: Rough mental math for doubling time (72 ÷ expected annual return ≈ years to double).
  • Donor‑advised funds / bunching donations: Hosts discussed front-loading charitable gifts (bunching) to exceed the standard deduction threshold in one year and capture greater tax benefit; this is a personal/tax-code dependent strategy.
  • Tax context: Hosts note standard deduction increases have made itemizing less common — most taxpayers now use the standard deduction. Advanced giving strategies may still be useful for high levels of giving or state/mortgage totals that push you over itemization thresholds.

Community initiatives & CTAs

  • 30‑day Money Challenge: Goal = find 10% in savings in everyday spending; sign up at choosefi.com/login and report results for a community follow-up episode.
  • ChooseFI app & local groups: Use choosefi.com/login to join/create local events. Posting events in the app increased engagement (example: Portland meetup attendance doubled).
  • Support the ad‑free show: Hosts ask listeners opening a travel rewards card to visit choosefi.com/cards (this supports the ad‑free model).

Practical tips & life hacks mentioned

  • TrueCar (U.S. News): A way to solicit offers from dealerships and avoid haggling — saved one listener ~$2,000–$2,500 on a new car and included delivery.
  • Hertz Auto Sales / rental‑fleet cars: Can be a lower‑cost option for used cars if you’re comfortable with rental history.
  • Grocery & meal planning: One big area for immediate monthly savings; meal‑prep with kids can save money and improve health.
  • If you’re nearing FI, audit your tax/timing moves early (donations, Roth strategies, taxable allocation) — don’t wait until the week before you stop working.

Hosts’ 2026 goals (short)

  • Brad:
    • Reassess solo finances; fully track spending and categorize costs.
    • Get daughters’ checking accounts set up and teach them money basics.
    • Return to Japan and hike Mount Fuji (long‑standing goal).
    • Regular gym routine (five times/week; strength 3×, Zone 2 and HIIT).
    • Expand local group events on the ChooseFI platform.
  • Jonathan:
    • Research and decide on charitable strategy (donor‑advised funds / bunching).
    • Improve the ChooseFI app and learn React Native (further dev skill).
    • Continue building the FI planning tool (effective‑need + world tax engine) out of beta for more countries.
    • Relationship goal: practice humility — “not always having to be right.”

Actionable next steps for listeners

  • If you want accountability: sign up for the 30‑day money challenge at choosefi.com/login and log your intent.
  • Join or create a local ChooseFI event in the app and invite people (walking groups, meetups, case studies).
  • If car shopping: consider using aggregated-offer services (TrueCar) or rental‑fleet sales (Hertz) to compare prices without haggling.
  • Track one major expense bucket this month (food, subscriptions, or recurring services) and try to cut it 10% — report your results to the ChooseFI community.

Notable quotes & perspectives

  • “Saving money isn’t deprivation — it’s buying your freedom.”
  • “Spending is a skill” — learn to spend on what genuinely adds value.
  • “FI isn’t binary” — CoastFI, BaristaFI, Lean/Fat FI are intermediate options that expand choices before hitting a static number.

If you want to find the episode’s links and join the challenge or local groups: visit choosefi.com/login (and use choosefi.com/cards to support the ad‑free show when opening a travel rewards card).