Becoming Work Optional

In this episode of Becoming Work Optional, Matt and Rachael interview Justin Peters where they discuss the concept of achieving work optional status, focusing on the balance between financial independence and pursuing meaningful work. Justin shares his journey of side hustles, entrepreneurship, and the importance of consistency and risk-taking in personal and professional growth. Matt, Rachael and Justin emphasize the value of experimentation in one's 20s and the significance of creating white space for reflection and problem-solving in entrepreneurship. Key Points Discussed: 1. The importance of using your 20s for exploration, experimentation, and spontaneity rather than focusing solely on career and life milestones. 2. The concept of reaching a point where work is optional, allowing individuals to pursue projects that excite them rather than working solely for financial reasons. 3. Justin discusses balancing a full-time job with side hustles, including marketplace flipping and running a podcast agency. 4. Justin's perspective on reaching Coast FI, where one no longer needs to save aggressively for retirement, allowing for more risk-taking and focus on impact work. 5. Justin's transition from a podcast listener to a creator, and how it became a significant part of his career during a sabbatical. 6. The value of sales skills and networking, which Justin developed from a young age and throughout his career. 7. Discussion on the relevance of college majors and the importance of building high-income skills and networks during college. 8. The role of health and consistent habits, such as Justin's running streak, in supporting entrepreneurship and personal growth. 9. The importance of having white space in one's schedule to think creatively and solve problems effectively. 10. Encouragement to take risks, especially when young, as the ability to recover from failures is greater. Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Justin Peters X/Twitter & Instagram - @justinleepeters tsirpodcast.com [http://tsirpodcast.com] Rachael X/Twitter - @camp_wealth rachaelcampwealth.com [http://rachaelcampwealth.com] Matt X/Twitter - @matthew_garasic unrivaledwm.com [http://unrivaledwm.com] Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Carl Landau, an entrepreneur who has built and sold multiple businesses and now embraces a lifestyle of "unretirement" through podcasting and travel. Carl shares insights on the importance of pursuing passions beyond traditional retirement, emphasizing that many people struggle with identity and purpose after leaving their careers. The discussion highlights the value of planning for retirement and the role of financial advisors in helping individuals transition to a fulfilling post-work life. Key Points Discussed: 1. They emphasize the concept of achieving a work optional status, where individuals can choose to work on projects that excite them rather than for financial necessity. 2. Carl shares his experiences of building and selling three businesses and his current focus on podcasting and travel. 3. Carl discusses his view of "unretirement," where he continues to engage in meaningful work rather than fully retiring. 4. Carl reflects on the challenges and joys of entrepreneurship, including the importance of recognizing when to step back from a business. 5. The importance of consulting with a financial advisor early to assess retirement readiness and financial security is highlighted. 6. Many individuals struggle with their identity after retiring from a long career, emphasizing the need for meaningful activities post-retirement. 7. They discuss travel as a significant area of spending and enjoyment in retirement, with Carl mentioning his travel experiences linked to his podcast. 8. Carl shares how his dyslexia has shaped his entrepreneurial journey, allowing him to develop unique problem-solving skills. 9. The conversation touches on the importance of learning from failures and recognizing market opportunities rather than being the first to market. 10. The podcast stresses the need for proactive planning for retirement, encouraging listeners to think about their post-work life well in advance. Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Carl Landau Facebook - @IUsedToBeSomebodyPodcast Podcast - I Used To Be Somebody pickleballmediahq.com [http://pickleballmediahq.com] Rachael X/Twitter - @camp_wealth rachaelcampwealth.com [http://rachaelcampwealth.com] Matt X/Twitter - @matthew_garasic unrivaledwm.com [http://unrivaledwm.com] Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Ankur Nagpal, a successful entrepreneur who shares insights on achieving work-optional status and the importance of tax savings for business owners. Ankur discusses his journey to financial success, the significance of a healthy relationship with money, and various tax strategies, including the benefits of a Solo 401k and charitable giving. The conversation emphasizes the value of proactive tax planning and the mindset shift from scarcity to abundance for entrepreneurs. Key Points Discussed: 1. Ankur achieved significant financial success early, selling his company Teachable for over $100 million and achieving work-optional status by age 31. 2. A major focus of the episode is on strategies for business owners to save on taxes, highlighting the advantages of the U.S. tax code for entrepreneurs. 3. The Solo 401(k) is presented as a powerful retirement account option for solo entrepreneurs, allowing for high contribution limits and tax deductions. 4. The discussion includes the benefits of electing S-Corp status for tax savings, particularly regarding self-employment taxes and reasonable compensation. 5. Charitable contributions can be optimized through strategies like donating appreciated assets and using donor-advised funds for tax efficiency. 6. The QBI (Qualified Business Income) deduction provides a 20% tax deduction for business owners, with specific rules for high earners to maximize benefits. 7. The podcast stresses the need for professional advice in tax planning, especially for complex strategies like cash balance plans and S-Corp elections. 8. Ankur discusses the importance of maintaining a healthy relationship with money, viewing it as a tool for freedom rather than a measure of self-worth. 9. The conversation touches on the balance between work and personal well-being, emphasizing the importance of health and lifestyle choices in the entrepreneurial journey. Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Ankur Nagpal X/Twitter - @ankurnagpal Instagram - @ankurna carry.com [http://www.carry.com] Rachael X/Twitter - @camp_wealth rachaelcampwealth.com [http://www.rachaelcampwealth.com] Matt X/Twitter - @matthew_garasic unrivaledwm.com [http://www.unrivaledwm.com] Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Dr. Brad Klontz and Adrian Brambila, discussing their new book "Start Thinking Rich," which explores 21 harsh truths about money. They cover their personal financial journeys from humble beginnings to achieving financial freedom, emphasizing the importance of mindset and strategic spending. They also discussed the concept of retirement, advocating for a life of purpose and financial freedom rather than traditional retirement. Key Points Discussed: 1. "Start Thinking Rich" by Dr. Brad Klontz and Adrian Brambila covers 21 harsh truths about money, aiming to shake up traditional financial advice. 2. The book emphasizes that beliefs about money can hinder financial success, advocating for a mindset shift. 3. Both started from humble beginnings and became financially free through hustle and strategic financial decisions. 4. They discussed the balance between saving aggressively and learning to spend wisely, focusing on experiences over materialism. 5. Both authors criticize traditional retirement, advocating for a life with purpose and ongoing engagement rather than idleness. 6. They emphasize finding work that serves a purpose and the importance of maintaining a sense of purpose throughout life. 7. Brad and Adrian also discuss the importance of keeping some hobbies separate from work to maintain personal enjoyment. 8. The impact of one's social circle on financial habits was highlighted, suggesting the need for a supportive environment. Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Get "Start Thinking Rich" by Dr. Brad Klontz and Adrian Brambila startthinkingrich.com/bwo [http://www.startthinkingrich.com/bwo] Dr. Brad Klontz X/Twitter, Instagram, YouTube, TikTok - @DrBradKlontz bradklontz.com [http://bradklontz.com] Adrian Brambila X/Twitter, Instagram, YouTube - @brambilabong TikTok - @adrianbrambila adrianbrambila.com [http://adrianbrambila.com] Rachael X/Twitter - @camp_wealth Instagram, YouTube - @campwealth rachaelcampwealth.com [http://rachaelcampwealth.com] Matt X/Twitter, Instagram - @matthew_garasic unrivaledwm.com [http://unrivaledwm.com] Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Liz Giorgi, Emmy Award winner and CEO of Soona, discussing her entrepreneurial journey, emphasizing the importance of financial planning, resilience, and storytelling in business. She shared insights from her experiences with her first company, Mighteor, and the creation of Soona, highlighting the impact of providing affordable, professional content for brands. Liz also stressed the significance of setting personal finance goals and the value of celebrating successes along the way. Key Points Discussed: 1. Entrepreneurship is difficult but can lead to significant financial freedom and personal fulfillment. 2. Liz grew up in Northern Minnesota in a mining town, which shaped her perception of money and community reliance. 3. Liz showed entrepreneurial tendencies from a young age, selling wild blueberries and raspberries and working at her families small business. 4. Initially pursuing a career in television broadcasting, Liz found it unstable but valuable for networking and skill development. 5. Liz founded her first company, Mighteor, leveraging her expertise in production and online advertising. 6. Liz made early financial mistakes, such as not paying herself a salary, which she corrected through education at Babson College. 7. Selling Mighteor for close to a million dollars, Liz prioritized her time and future aspirations over a higher sale price. 8. Liz reinvested half of her earnings from Mighteor into her new venture, Soona, a same-day photo and video service for brands. 9. Liz is a passionate advocate for gender equity in venture financing and supports women in entrepreneurship. 10. Liz emphasizes the importance of setting specific financial goals and aligning them with personal values and aspirations. Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Liz X/Twitter - @lizgiorgi soona.co [https://soona.co/] Rachael X/Twitter - @camp_wealth rachaelcampwealth.com [http://rachaelcampwealth.com] Matt X/Twitter - @matthew_garasic unrivaledwm.com [http://unrivaledwm.com] Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.