047R |The Rule of 72

047R | In today's podcast we recap Episode 47 with Bryce and Kristy from Millennial Revolution including talk of home ownership and world travel, but a reader case study and voicemail. In Today’s Podcast we cover: A recap of our main takeaways from Episode 47 with Kristy and Bryce from Millennial Revolution How Brad explained the concept of compound interest to his daughter Anna and it was a lightbulb moment How Brad’s daughter immediately took action and invested her money in Vanguard index funds Brad’s moment where he found the concept of compound interest as a 19 year old Calling for tips on how other parents have introduced financial skills to their kids How your house is not a great investment and for people in the FI community it isn’t “your biggest investment” Your home may be a terrible investment but it doesn’t mean it’s a terrible decision Home appreciation seems “magical” to people but it actually represents well below the 8% return benchmark we use as a guide Brad’s example of a $300,000 house and the expected future value How Bryce and Kristy have these amazing hacks to travel for little money Their entire lives cost $30,000 for a full year Time averaging in low and high cost of living areas A reader case study that was sent in to Bryce and Kristy on the rental property they have that’s underwater and how they should move forward Voicemail from ChooseFI community member Jack on finding FI and making amazing changes up to a 58% savings rate How everyone can pursue FI and it isn’t limited to certain incomes, professions, etc. Itunes review and book giveaways Links from the show: Millennial Revolution Why Your House is a Terrible Investment Friday Reader Case Study: My Mortgage is Underwater.  Am I Screwed?