Episode 172

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Published on:

2nd Jul 2025

Money Moves That Sound Smart…But Aren’t (Part 1) | E172

Some financial strategies sound really smart…until they aren’t.

In part one of this special two-part series, we’re diving into real stories from personal finance pros who once made money moves that seemed like great ideas... but turned out to be anything but.

You’ll hear honest reflections from:

  • Diana Merriam (EconoMe) on the allure, and pitfalls, of credit card churning
  • Jesse Cramer (Personal Finance for Long-Term Investors) on rethinking Roth conversions
  • Joel Larsgaard (How to Money) on why 529 plans aren’t always the no-brainer they seem

I’ll also share my own story of trusting the wrong financial “expert” and how it led me to open a whole life insurance policy I didn’t need.

We’ve all made money moves we later questioned. This episode is here to help you learn from them and avoid making the same ones.

Key Takeaways:

  • Whole life insurance isn’t the wealth builder it’s often sold as.
  • Credit card churning can be more trouble than it’s worth.
  • Roth conversions aren’t always a smart tax move.
  • 529 plans can limit financial flexibility.
  • Even smart-sounding strategies deserve a second look.
  • Mistakes are part of the journey - learn and keep going.


More of Our Guests:

Check out Diana’s EconoMe Conference at https://economeconference.com/

Listen to Jesse’s podcast Personal Finance for Long-Term Investors at https://bestinterest.blog/personal-finance-for-long-term-investors/

Listen to Matt’s podcast How to Money at https://www.howtomoney.com/


More of FI Minded:

Email Justin at Justin@FIMinded.com

Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/

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About the Podcast

FI Minded - Financial Independence Without the Extremes
Achieve Financial Independence & Have Fun Doing It
Pursuing financial freedom, a work-optional lifestyle, or early retirement often leads to the same questions: “one more year,” “do I have enough?” “what does life actually look like after this?”

FI Minded helps you think like someone who’s already financially independent so you can make smarter decisions about how you work, spend, and live.

From Coast FI and Slow FI to lifestyle design, career transitions, healthcare, and self-employment, each episode explores the real decisions behind building a flexible, work-optional life…without burnout, over-optimization, or missing out along the way.

We cover:
* Smarter ways to reach financial independence (without burnout)
* Designing a flexible, work-optional lifestyle
* Coast FI, Slow FI, and enjoying your time along the way
* What life actually looks like after FI (and how to prepare for it)
* The tradeoffs behind big money decisions

Make progress toward financial independence while actually living your life.

Some of our past guests include Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Jill Sirianni (Frugal Friends), Jackie Cummings-Koski (Catching Up to FI), Joel Larsgaard (How to Money), Cody Garrett (Measure Twice), Jesse Cramer (Personal Finance for Long-Term Investors), Jess (The Fioneers), Chris Hutchins (All The Hacks), Diania Merriam (EconoMe), Andy Hill (Marriage Kids Money), Fritz Gilbert (Retirement Manifesto), and and others helping you rethink how to approach financial independence.
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