Money Psychology: Build & Preserve Wealth w/ Rachael Camp (MI323)

Patrick Donley talks to Rachael Camp, a Certified Financial Planner, about creating a work-optional life. They discuss her approach to financial planning, managing personal finances, renting vs. buying, and more.

Rachael is a Certified Financial Planner and owner of Camp Wealth where she helps high-earners and business owners build a preserve wealth. She is also co-host of The Work Optional podcast and lives in Denver, Colorado.

IN THIS EPISODE, YOU’LL LEARN:
0:00:00 - Intro
0:00:27 - What it was like growing up in a family that was heavily involved in finance and investing
0:06:54 - What it was like working at JP Morgan directly out of college
0:09:11 - How it was partnering with her father doing financial planning
0:12:51 - Why introverts can make great salespeople
0:14:03 - How Jerry Seinfeld influenced her to write
0:15:06 - What is money and how to become better with it
0:17:17 - What her first steps and first questions are with new clients
0:19:51 - How Rachael manages her own financial life
0:23:42 - How the FIRE movement influenced her
0:28:50 - Why everyone should create a memory dividend fund
0:35:34 - Why she started her podcast, Becoming Work Optional
0:38:35 - How Twitter has influenced and advanced her career
0:46:43 - What her tech stack looks like for managing her finances
- Why you need to be tracking every penny
0:50:28 - Why it’s not worth your time to try to beat the market
0:54:24 - What the biggest mistakes she sees people making with their finances
0:56:14 - What her thoughts are on renting vs. buying
1:01:51 - How the ideas of Naval Ravikant have influenced her

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[MrYufu]

Such a great episode. Tons of useful information. She is so knowledgeable at this young age. So impressive!

[Namlange]

Die with zero is a great book and everyone should read it

[KamilMauel]

Time to think. Yeap. That's why overworking leads to nowhere.