Episode 173

full
Published on:

2nd Jul 2025

Money Moves That Sound Smart…But Aren’t (Part 2) | E173

Some money moves sound smart…until you actually try them.

This is Part 2 of our special series where six personal finance experts share strategies that sound smart but rarely are. In this episode, you’ll hear from:

  • Larry McMahon (Uncontrollable Me) on why doing everything yourself can be a costly mistake
  • Sean Mullaney (FI Tax Guy) on when Traditional 401(k) contributions might not be the best choice
  • Jeremy Schneider (Personal Finance Club) on why whole life insurance is rarely the financial win it's pitched to be

Missed Part 1? No problem - each episode stands alone, but you’ll want to go back and queue it up next.

Key Takeaways:

  • DIY-ing everything can limit your growth and lead to costly errors
  • Traditional 401(k) contributions aren’t always the most tax-efficient route
  • Whole life insurance rarely lives up to the hype
  • Even experienced money nerds make mistakes—and learn from them


More of Our Guests:

Check out Larry’s coaching practice at https://www.uncontrollable.me/.

Watch Sean’s YouTube channel at https://www.youtube.com/@SeanMullaneyVideos.

Follow Jeremy’s Instagram account at 


More of FI Minded:

Email Justin at Justin@FIMinded.com

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


Disclaimer

The content shared by Sean Mullaney in this episode is for informational purposes only and should not be considered tax advice for any specific individual. Neither this podcast nor its host endorses Sean Mullaney, Mullaney Financial & Tax, Inc., or any of the services they offer.

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for FI Minded: Achieve Financial Independence & Have Fun Doing It

About the Podcast

FI Minded: Achieve Financial Independence & Have Fun Doing It
Achieve Financial Independence & Have Fun Doing It
Want to achieve Financial Independence (FI) without missing out on life?

FI Minded is the podcast for anyone seeking financial freedom, time freedom, and a work-optional lifestyle — all while enjoying the journey along the way.

Whether you’re at the beginning of your FI journey or already deep into Coast FI or Slow FI, this show gives you practical strategies and insights to reach early retirement and design a life that aligns with your values, purpose, and fulfillment.

Popular topics include:
- FI Optimization Strategies: Actionable advice to reach Financial Independence faster without unnecessary stress.
- Work Optional & Lifestyle Design: How to transition from the corporate grind and build a life of freedom, flexibility, and intentional living.
- Time Freedom & Coast FI: Making the most of your time while still planning for the future, including mini-retirements, travel, and other ways to enjoy your life now.
- Post-FI Identity & Purpose: What to do once you’ve achieved FI, and how to create meaning beyond money.
- Burnout & Balance: Avoid the pitfalls of over-optimization and learn to balance saving for the future with mental health and happiness.

If you want to reach financial independence, design a life that’s purposeful and fun, and avoid burnout along the way, FI Minded is your guide to building a sustainable, fulfilling, and free 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), and many more inspiring voices in the FI space.
Support This Show