What’s Poppin’,

This is the Master Money Newsletter, the newsletter that transforms your financial wisdom just like how Clark Kent becomes Superman in a phone booth - quickly, effectively, and stylishly. Just remember, there's no need to wear your underwear over your pants to make smart money moves!

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Here’s what we have on deck today:

📰Read: 7 Philiosohies Around F.I. I Believe to Be True

📺Watch: 11 Personal Finance Lessons That Will Change Your Life

🎧Listen: Go from In Debt to Millionaire with George Kamel

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Recently, I've taken a stroll down memory lane, revisiting some of my early musings on financial independence.

These were penned before the advent of my podcast, before my dreams of achieving fat FIRE took flight, and before the joys of entrepreneurship and parenthood became part of my narrative.

What strikes me as amusing yet profound is that, despite the passage of time, these philosophies continue to resonate deeply with me.

Sure, the finish line has shifted. I once aspired to reach lean FIRE; now my sights are set on the more ambitious fat FIRE. Yet, my core motivation, my 'WHY', has remained steadfast.

Here are seven enduring truths I stand by.

1. Happiness ≠ Wealth: Plot twist – hitting that F.I. target doesn't mean you'll be doing cartwheels of joy forever. Money's great, but it's no happiness wand. It gives you the freedom to craft a happy life, but don't mistake the tool for the end result.
2. Time > Money: When it comes to F.I., it's not about the dollar signs in your bank statement. What gets me jazzed is the freedom those numbers represent – the liberty to dive into work I love, hang out with my favorite humans, and decide how I spend each day.
3. Value as the Spending Compass: Spend based on the joy it brings, not just because you can. The key question before any purchase is, "Does this add value to my life?" If yes, I swipe that card without an ounce of guilt.
4. Early Grind for Lifelong Freedom: I bet on my work ethic in my 20's to buy my ticket to lifetime freedom. I was all in for the grind, saving, and investing. The goal? A worry-free financial future.
5. Post-F.I. Work – The Creative Kind: Even after F.I., I see myself working – just not chained to a cubicle. The 9-5 grind may be some folks' cup of tea, but I'll pass. Instead, I plan on podcasting, building businesses I believe in, creating – doing stuff I love, all thanks to F.I.
6. Philosophy Leads Finance: Your personal philosophy – what you want in life, how you want to live, your goals – should be your financial GPS. It helps me decide how to spend, where to earn more, and keeps my financial journey on the right track.
7. Life's Short – Make it Count: Life's too fleeting to waste on things you don't need, to be trapped in debt, or to miss out on moments with loved ones. I aim for financial control, not to hoard wealth, but to enable a life of meaning and satisfaction.

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📈 Quick Tip Of The Week —Your Cash Stash: Making Sense of the Fed's Pause on Rate Hikes

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Rate Hikes - The Long Pause

The Fed's been on a rate-hike spree lately, but now it's mulling over a pit stop. And while a breather might sound like a good thing, it could mean your interest-earning investments (think savings accounts and money market funds) might offer slimmer pickings.

Finding Silver Linings

But hey, it's not all gloomy. Lower rates might mean bonds could start strutting their stuff. As your current bonds mature, you might want to keep an eye out for new bonds that are vibing with the lower interest rates.

The High-Yield Savings Route

This is where I park my cash. Sure, high-yield savings accounts might take a bit of a dip with the Fed's pause, but they could still outshine regular savings accounts. So, don't dismiss them just yet.

The Power of I Bonds

With the fluctuating interest rate scenario, I Bonds could be a smart move. These bonds come with an interest rate composed of a fixed rate and an inflation rate, providing a nice hedge against inflation. They're definitely worth considering in your financial strategy.

Certificates of Deposit (CDs) - A Reliable Choice

CDs, with their fixed interest rates, could be another promising destination for your cash. Although their returns might not be as high in a lower interest environment, they can still offer a more attractive yield compared to regular savings accounts.

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News You Can Actually Use

Another day, another decimal.

The Fed's just dialed up the federal funds rate by a quarter percent, placing it in the 5.0%-5.25% bracket - a height we haven't seen since the pre-Great Recession era. This marks the 10th such hike in a little over a year, but it appears Jerome Powell's enthusiastic rate-boosting spree might be nearing its finale. Since the curtain rose on this act, the economy has chilled considerably, and we're getting a glimpse of the not-so-pretty aftermath of high-interest rates (Pour one out for First Republic). 🪦

Credit Score CPR

In the realm of credit, Equifax, Experian, and TransUnion have officially scrubbed any medical collection debt under $500 from their credit reports (regardless of whether the debt's been settled). This move was announced last year, but it only became effective on April 11th. So if your credit score just got an unexpected shot of adrenaline, you know who to thank!

Jobs of the Future - The Fast Track and the Slow Lane

And in the labor market, the World Economic Forum's Future of Jobs report reveals some fascinating shifts. With changes in technology and the global economy, some jobs are surging ahead while others are being left in the dust. Check out the full report here for a deeper dive into the fastest growing and declining jobs in today's workforce.

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High-Performance Book Club 📚

I get a ton of questions from listeners and readers as to what I am reading. So we decided to let you know via the newsletter. The High-Performance Book Club will be a way to share this. If you want to be Elite in your career, business, or with your wealth, then welcome to the club. If you would like to see our previous picks, you can find them here.

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The Personal Finance Podcast 🎙️ ​ ​

​Boost Your Savings Rate to 20%+ in 5 Easy Steps (Money Q&A)​

​How to Go from in Debt to Millionaire in 10 Years with George Kamel​

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Youtube

​The 13 Differences Between Broke, Rich, and Really Rich!​

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