Money Mile

In  episode 23  we discussed cash flow at the sprint distance level of training. In that episode, you learned that you shouldn’t spend more than 30% of your income on housing and you should be saving 20% of your income each month. On this episode of Money Mile, we’re going to level up the cash flow component of your financial training plan. Listen in to learn how you can improve your cas...

James Brown passed away in 2006* with a $90 million estate yet, because it was contested, it wasn’t until 2021 that his final wishes were realized. I don’t want this to happen to you! This is why, on this episode of Money Mile, we’re diving deeper into estate planning.  In episode 22  we covered estate planning at the sprint level and today we’re leveling up to explore this area in furth...

Do you remember that scene in Wizard of Oz where the wizard says, “Pay no attention to the man behind the curtain?” We then learn that the all-powerful Wizard of Oz was really just a random dude with some technology. So that you don’t think I am simply a random dude with a bit of technology, today, I’ll give you a glimpse behind the Money Mile curtain.  In this episode, you’ll learn about my...

Where are you going? How are you going to know how to get there? You won’t know where you are going financially unless you have considered your goals. When you are done listening to this episode, I want you to feel confident about your financial goals. If you are new to the Money Mile podcast, welcome! This is the number one financial podcast designed for triathletes and runners. I’m here to help...

You wouldn’t start a race without a flat repair kit for your bike. In the same vein, you’ll want to make sure that you are protected against the various risks that life involves. On this episode of Money Mile, we’ll consider risk management and how to come up with a contingency plan for the random financial issues that could arise to throw you off course.  Join me for a mile-sized bit of fina...

Thinking about investments can feel daunting in the same way that strength training can. When you finish listening to this episode you’ll feel empowered to think about investments as a way to help you build wealth.  In the same way that strength training will help you get faster, your investments will help you race toward financial independence. Listen in to hear how you can use investments t...

Benjamin Franklin once said that the only things that are certain in life are death and taxes. Since we already discussed estate planning that means it’s time to cover taxes.  Taxes fall into the efficiency and technique equivalent in our financial training plan. This is why today you’re going to learn how to improve your efficiency so that you can pay less taxes over the course of your lifet...

Do you feel like money just slips through your fingers when you get it? Learning to manage your cash flow is an essential part of your financial training. Without this key component, it will take you even longer to reach financial independence. Cash flow is the equivalent of nutrition and hydration in your financial training plan. Today, you’ll learn how to handle your cash flow at the sprint leve...

Estate planning is most people’s least favorite financial topic, so why would I consider it the equivalent of a sprint distance triathlon? That’s because this is the only area of financial planning that applies to everyone. That’s right, estate planning is for everyone–not just the rich and famous. If you don’t have an estate plan in place – make sure that you listen in and do the homework! This e...

Are you looking for financial education in mile-sized bits? If so, then Money Mile might be just right for you. Money MIle is the best financial education podcast designed for triathletes and runners–never mind that it’s the only financial education podcast designed for triathletes and runners! Our goal is to help busy, active athletes who are working toward a phased financial independence. On thi...

One of the most frequent questions I get is what does a financial planner actually do? The next most common question is do I need one? On this episode of Money Mile, we’ll explore both of these questions in greater detail. You’ll learn the different types of titles that financial professionals might have, the roles they play, the certifications they might possess, and the way financial professiona...

One of the largest lifetime expenses that many Americans face is taxes. Since we all have to pay taxes on our income and we (ideally) earn an income or profit from our investments, we have to pay taxes on our investments as well. This is why it is important to consider the types of investment accounts you hold.  If you are interested in minimizing your lifetime tax bill then you will want to...

 Do you have a spending plan? Or do you just wing it and hope for the best? If you remember episode nine,  The First Foundation of Financial Fitness , you’ll remember that you should spend less than you make. Hopefully, you are already doing that. Today’s episode takes that foundation up a notch to help you keep track of where your money is going.  In this episode, you’ll learn thre...

We’re all looking for the best investments that we can make. While I can’t tell you what the next hot stock will be, I can give you some unconventional investment ideas that you may not have thought of before. Since I don’t know you from a hot rock, I can’t give you specific investment advice. I simply want to give you a few ideas and strategies to consider.  In this episode of Money Mile, I’...

Not everyone has a pension plan, but if you do it could be a tremendous boon to your plans for financial independence. A pension plan seems cut and dry, but in this episode of Money Mile, you’ll hear five ways that you could optimize your pension so that you can maximize your benefits. Let’s share a mile together so that you can learn how to maximize your pension and maximize your plans for financ...

In  the last episode of Money Mile , you met Harry and Jenny–two hard-working triathletes working toward living a good life both now and in the future. Now that Harry and Jenny have built their money machine, they are ready to start planning for their kids’ college education.  Today you’ll learn 6 tips that can help ensure that you get your kids off to the best start in life by helping t...

Even though money doesn’t grow on trees, there is a way to build your own money machine. Unfortunately, this money machine won’t look like your own personal ATM that you keep in your basement. However, it will help you achieve financial independence. In this episode of Money Mile, you’ll learn how to build your own money machine with the story of two triathletes.  You will want to hear this e...

Debt can be a powerful tool, but it can also create a terrible financial situation that can ruin your chances for financial independence. On this episode of Money Mile, you’ll learn the 5th and final foundation of financial fitness: use debt wisely. I’ll help you understand the types of debt, my golden rules for debt, tips for utilizing student debt, and the one type of student loan that you shoul...

Over the past few episodes, we have been working through the  5 foundations of financial fitness . Today, we’ll delve into the fourth foundation. The fourth foundation of financial fitness is to protect what you can’t afford to lose. Since life is full of ups and downs, it is important to plan ahead to be ready in case things don’t go your way. Listen in to hear the 6 things that you should c...

Have you ever been a race day volunteer? Volunteering at a race is a way to gain perspective on what it means to race. On this special episode of Money Mile, I share my experience as a bike aid station volunteer at the 2022 California Iron Man.  Listen in to hear what you can learn not just from the Iron Man champions, but from all those that choose to sacrifice their time and energy for the...

There are thousands of ways that you can build wealth, but if you don’t have a plan that you can implement, then you’ll never reach your financial goals. Building wealth is the third foundation of financial fitness that we are discussing in this episode of Money Mile.  How did your homework go from  episode 10 ? Did you discover one smart thing to do with your money and implement it? Tel...

ou already know that you need to  spend less than you earn , but what should you do with the difference? Something smart! Doing something smart with the difference is the second foundation of financial fitness.  In this episode of Money Mile, you’ll learn about some intelligent and not-so-intelligent things that you can do with the money that you have left over at the end of the month. T...

Now that you know the basic  foundations of financial fitness , we’ll be taking a deep dive into each of them one at a time. Today we are covering the first foundation: spend less than what you earn. In this episode, we’ll explore what this means and how you can make this seemingly simple foundation of finance work by using a spending plan. You’ll learn 10 tips to help you design your spendin...

Welcome back to Money Mile, the podcast for active people looking forward to an active, phased financial independence. Together we’ll share a mile so that you can learn how to build a better life.  In today’s episode, you’ll hear the 5 foundations of financial fitness that we’ll be exploring in depth over the next several episodes. Make sure to stick around until the end to hear your homework...

Welcome back to Money Mile, the podcast where we share a mile to help you live a better life! In the last few episodes, we discussed the unique financial challenges that endurance athletes face.  This episode translates a financial concept into terms that a triathlete will easily understand. If you aren’t a triathlete, please continue to listen and let me know what you think! I’d love to know how...