ChooseFI Podcast Episode 584 Summary

Title: Goal Setting for 2026
Date: February 2, 2026
Hosts: Jonathan & Brad
Main Theme:
The hosts crowdsource goal-setting strategies from the ChooseFI community, featuring listener-submitted goals, actionable tactics, and insights for achieving Financial Independence by 2026. They discuss not just the financial aspects of FI, but the holistic journey—highlighting mindset shifts, community building, and the role of intentional living along the path.

Episode Structure

• Community & crowd-sourced goals for 2026
• Tangible tactics for saving, investing, and life optimization
• The importance of local FI community connections
• Mindset shifts at various FI stages (e.g., Coast FI, Barista FI, Lean/Fat FI)
• Personal goal sharing by the hosts

Key Discussion Points and Insights

1. The Power of FI Community & Local Connections

[01:16 - 03:05]

• Brad shares his experiences at recent FI events, underlining the nourishment and inspiration found in face-to-face meetups.
  • “It was really nourishing to the soul... It was really great to see so many old friends...” — Brad, 01:51
• Board Games as a Social Tool: Lighthearted discussion on games like Skull King, Monopoly Deal, and Cover Your Assets, relating them to community-building in FI gatherings.
  • “The FI community loves board games.” — Brad, 02:56

2. Practical Frugality & Big Wins

[05:18 - 11:29]

• Frugal Car Buying Tips: Brad recommends “TrueCar by US News” for aggregating real dealer offers, sharing how it saved him $2,500 and avoided the dealership hassle. He also details buying a used car through Hertz’s auto sales.
  • “It literally took over $2,000 off what I paid just for signing up.” — Brad, 07:44

3. Show Structure and Crowdsourced Table of Contents

[11:29 - 14:02]

• Jonathan explains the shift to community-driven content—using listener voicemails and messages to set agenda topics and pursue a comprehensive "FI Playbook."
  • “This episode... shows our intention and commitment to crowdsourcing personal finance.” — Jonathan, 11:31

Community Goals and Notable Call-ins

Voicemail 1: Sam from Alexandria, VA

[14:02 - 14:42]

• Goal: Build local FI friendships by organizing walking groups; 14 people already signed up.
  • “One of my goals for 2026 is to be more involved in my local FI community...” — Sam, 13:55
• FI Platform Feedback: Success attributed to the choosefi.com events function, doubling attendance at some local meetups.

Preparing Community Calendars & Free Events

[14:43 - 17:40]

• Brad and Jonathan envision crowd-sourced community calendars, inspired by free opportunities in cities like Boston (citing Liz from Frugalwoods, Episode 12).
  • “There are free things everywhere, especially in big cities... We just have to find them.” — Brad, 16:55

Voicemail/Message 2: “I'm Doing Quite Well”

[18:34 - 19:30]

• 70% savings rate, prepping for a home purchase, possibly retiring from PT in 2027.
• Brad emphasizes FI as reclaiming time, not deprivation; suggests a Money Challenge: what if you cut 10–30% from credit card bills?
  • “Saving money isn’t deprivation... This is about reclaiming the only thing that matters, which is your time.” — Brad, 19:30
  • Proposed Challenge: 30-day, 10% spending cut, with community follow-up on results [21:59].

Voicemail 3: Jenny

[22:38 - 25:46]

• Financial: Save $50K for retirement, prep a car sinking fund, reposition a 529 for her son.
• Personal: Read 100 books, plan a bachelorette party.
• Health: Meal prep with kids.
  • “My goal is to plan the best bachelorette party ever...” — Jenny, 23:23
• Brad underscores the grocery bill as the big three’s low-hanging fruit for savings; Jonathan reflects on passing healthy habits to kids.

Voicemail 4: Dan from PA

[26:03 - 30:37]

• On the brink of FI, planning to direct more to taxable accounts, contemplating Barista FI and Roth conversion ladders.
  • “There’s this interesting point in time where you’re past the basics... the buckets and the tax treatments… are going to dramatically affect the options that are available...” — Jonathan, 26:45
• Brad gives nuanced tax planning advice, advocating for continued pre-tax contributions and detailed glidepath planning.

Discussion: Coast FI, Barista FI, Lean/Fat FI

[30:37 - 41:14]

• Coast FI: When your current investments will compound to FI without further contributions.
  • “If you could hit a certain dollar amount... and then just stop contributing, would that money alone get you to FI by 65? Coast FI says yes.” — Jonathan, 32:46
• Barista FI: Pivoting to passionate, low-income work while investments fill the gap.
• Lean FI: Living on a minimal, essential budget; Fat FI: Aiming for surplus/abundance.
• Key insight: FI isn’t binary; recognize and use “off-ramps” along the journey.

Voicemail 5: Lottie (UK)

[37:30 - 41:14]

• Goals: Hit “half FI,” learn to enjoy spending, get good at saying "no," and do more things bringing joy.
• Health optimization and community participation as “first scary things.”
  • “I’m hoping that... I’m going to have become better at saying no... and have said yes to more things that bring joy.” — Lottie, 39:03
• Hosts celebrate the global span of the FI movement, differences in tax codes, and the universality of FI’s mindset shifts.

Discussion: Standard Deduction, Taxes, and Charitable Giving

[43:38 - 46:59]

• Clarification that due to high US standard deductions, most no longer benefit from itemizing (e.g., mortgage interest, charitable giving).
  • “All those things you’re supposedly getting deductions for... now it’s just that marginal amount over the standard deduction that matters.” — Brad, 45:14
• “Front-loading” charitable giving, possibly via a Donor-Advised Fund (DAF), is a practical optimization.

Voicemail 6: Wilson (Southern CA)

[47:03 - 49:31]

• Former pharmacist, left a toxic career, negotiated a layoff, took time with young children, retrained as a financial advisor.
  • "...I was able to negotiate a layoff... and looking forward to the next steps in 2026... Maybe something to blame you guys for or thank you for..." — Wilson, 47:43
• Hosts celebrate “permission to pivot,” especially for those with sunk costs in long careers.

Hosts’ Personal Goals for 2026

[51:05 - 58:51]

Brad’s Goals

• Money: Track personal expenses meticulously, scrutinize spending, involve daughters in managing their own finances, and possibly set them up with credit cards.
• Personal: Finally visit Japan—hike Mt. Fuji (a dream since 1998), commit to a regular gym regimen.
• Community: Foster events and local group engagement in the ChooseFI app across all locations.

Jonathan’s Goals

• Tax Optimization: Research and potentially execute DAF charitable lump-sum strategies to maximize standard deduction use.
• Technical Growth: Learn React Native to improve the ChooseFI app and expand its global tax capabilities.
• Personal Growth: Work on humility and letting go of the need to be right in relationships for stronger personal connections.
  • “When you’re winning, when you’re proving that you’re right at someone else’s expense, it just doesn’t go well, it doesn’t age well… So I’m course correcting.” — Jonathan, 57:14

Notable Quotes & Memorable Moments

• “Saving money isn’t deprivation... This is about reclaiming the only thing that matters, which is your time.” — Brad, 19:30
• “The skill of spending is a continuum... you need to spend wisely, but also learn to enjoy spending on what brings you value.” — Brad, 39:39
• “The show is better when you interact with it.” — Jonathan, 50:04
• “There has never been a podcast like this... we don’t want you to just hear ideas. We want you to take actions.” — Jonathan, 21:59

Timestamps for Key Segments

| Timestamp | Segment Description | |------------|-------------------------------------------------------------------| | 01:16 | CampFI, FI community connection, and board games chat | | 05:18 | Frugal wins: Car buying strategies & online tools | | 11:29 | Crowdsourced personalization of content and the FI Playbook | | 14:02 | Sam’s voicemail: Building local community | | 18:34 | High-saving listener plans; intro to the 30-day money challenge | | 22:38 | Jenny’s goals: Savings, reading, meal planning, personal wins | | 26:03 | Dan’s journey from “basics” to withdrawal and Barista FI planning | | 30:37 | Deep dive: Coast FI, Lean FI, Fat FI, Barista FI defined | | 37:30 | Lottie’s voice memo from the UK: Half-FI, mindset, “scary” things | | 43:38 | Standard deduction and tax optimization for giving | | 47:03 | Wilson: Career pivot, negotiating severance, FI perms | | 51:05 | Hosts’ personal FI, health, and growth goals for 2026 |

Conclusion & Community Action

• The FI journey is unique, iterative, and benefits from frequent reflection and crowd-sourced wisdom.
• Call to Action: Join the 10% 30-Day Money Challenge at choosefi.com—commit, report, and share.
• Engage with episode-specific discussions and support others’ 2026 goals through the ChooseFI app/community: choosefi.com/login.
• Expect future episodes to be titled based on community contributions, directly linking listener insights to future show content.
  • “Most of our best titles come from you.” — Jonathan, 58:50

Summary

Episode 584 exemplifies the evolving, community-first philosophy of ChooseFI. Rather than a top-down knowledge dump, this show integrates community goals, practical hacks, and real-time mind and behavioral shifts. The hosts advocate intentionality, flexibility, and the power of collective action—urging listeners to not simply dream about FI, but to take small, brave, and even “scary” steps in the direction of their best lives.