096R | The Money Matriarch of the World & the Godfather of FI | Suze Orman & JLCollinsNH

096R | An in-depth conversation with JL Collins about a recent controversial interview given by Suze Orman, and clarification of what concepts are truly at the heart of the financial independence movement. Frugal wins of the week from Brad & Jonathan: garbage pickup and cell phone batteries. What questions did Dominick Q, from Monday's episode, ask that were most impactful for Jonathan? Jonathan explains how he uses a planner at night to set himself up for success the next day. What three things does he want to accomplish tomorrow? Shutting off notifications on his phone allows Brad to step away from him phone more effectively. One of Dominick's strategies for breaking the tie to various technology is a 'digital detox'. Leaving his phone at home during a family walk each morning helps Jonathan give quality, undivided attention to his family. JL Collins, a.k.a., the Godfather of FI, talks about two recent interviews on the "Afford Anything" podcast with Suze Orman (personal finance expert and former CNBC talk show host). Although Suze opposes the overall idea of FIRE, she advocates for many similar personal finance concepts and principles. Brad and Jonathan wonder whether anyone would ever be able to retire based on the FI numbers that Suze suggested. JL suggests that fear of what might happen in the future informs Suze's mindset more than necessary. Continuing to work doesn't mitigate uncertainty about the future. The only truly non-renewable resource is wasting decades of your life. Is the FI community more prepared than most for bad things that might happen in the future? Jonathan and JL wonder if Suze's wealth has been accumulated through sound investing, or from a variety of businesses and her work as a TV personality. It's easy to sell books and products based on fear. Was Suze's interview actually good for the FI community? The amount of money someone actually needs to retire is entirely dependent on the lifestyle that someone chooses to live. Does the "FIRE" acronym add some concern and confusion about the FI community? Being financially independent just means that you can do whatever you want. Trying to pick individual stocks is a loser's game. For more information, visit the show notes at https://ChooseFI.com/096R