Family Finance – Live Laugh Love Do http://livelaughlovedo.com A Super Fun Site Fri, 26 Sep 2025 20:51:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 Part Time Work and Financial Independence? http://livelaughlovedo.com/finance/part-time-work-and-financial-independence/ http://livelaughlovedo.com/finance/part-time-work-and-financial-independence/#respond Fri, 26 Sep 2025 20:51:22 +0000 http://livelaughlovedo.com/2025/09/27/part-time-work-and-financial-independence/ [ad_1]

Picture this: your 11-year-old son comes home from a friend’s house and asks why you don’t have a basketball court in your basement like his buddy’s family. 

Instead of just saying “we can’t afford it,” you explain that having one would mean dad goes back to working 60-hour weeks and traveling constantly. 

Your son thinks for a moment and says, “No thanks, I’d rather spend time with you.”

Andy Hill found himself having exactly this conversation with his son — and it perfectly captures the philosophy that led him and his wife to redesign their entire approach to work and family life.

By age 40, Andy and his wife Nicole had built a $500,000 investment portfolio and paid off their house completely. But instead of continuing the corporate grind toward traditional retirement, they made a radical choice: 

They both switched to part time work, roughly 20 to 25 hours per week each.

Andy joins us to share a 10-step plan for anyone who wants to also switch to a model in which BOTH parents work part time.

We discuss the concept of Coast FIRE – the point where you’ve invested enough that your money will grow to a comfortable retirement without any additional contributions. Think of it as eliminating your biggest monthly “bill” – retirement savings. 

Once Andy and his wife hit this milestone, they could afford to earn less and live more.

The conversation covers Andy’s 10-step framework for achieving this lifestyle, from dreaming about what you actually want to eliminating debt to building what he calls “FU money” — the cash cushion that gives you confidence to make bold career moves.

 

Resources Mentioned:

Andy Hill’s Own Your Time
Marriage, Kids and Money podcast
marriagekidsandmoney.com

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]]> http://livelaughlovedo.com/finance/part-time-work-and-financial-independence/feed/ 0 #636: How to Talk to Your Parents About Money, with Behavioral Economist Etinosa Agbonlahor http://livelaughlovedo.com/finance/636-how-to-talk-to-your-parents-about-money-with-behavioral-economist-etinosa-agbonlahor/ http://livelaughlovedo.com/finance/636-how-to-talk-to-your-parents-about-money-with-behavioral-economist-etinosa-agbonlahor/#respond Sat, 23 Aug 2025 07:17:33 +0000 http://livelaughlovedo.com/2025/08/23/636-how-to-talk-to-your-parents-about-money-with-behavioral-economist-etinosa-agbonlahor/ [ad_1]

Etinosa Agbonlahor sitting on her office while she talks about ways to talk to your parents about money.Behavioral economist Etinosa Agbonlahor joins us to discuss “money scripts” — the unconscious beliefs we inherit or develop about finances. 

Agbonlahor, CEO of Decision Alpha and former Director of Behavioral Science Research at Fidelity Investments, is the author of “How to Talk to Your Parents About Money.” 

She studied financial management at Cornell University and explains how these hidden biases create problems when we try to discuss finances with family members.

You might assume everyone thinks saving money makes sense, while your parents operate under completely different beliefs. These conflicting scripts can derail conversations before they start. 

Agbonlahor shares the story of a single mother who became so anxious about money after her divorce that she refused to buy her teenager expensive shoes. Years later, she realized she was trying to teach extreme frugality to protect her daughters from the financial insecurity she experienced.

The key to productive money conversations lies in three principles: care, curiosity and cooperation. You approach with empathy rather than judgment, ask open-ended questions to understand their situation, and work together toward solutions instead of trying to be the financial savior.

The conversation covers specific topics you should address with aging parents: debt, retirement planning, long-term care preferences, and estate planning. Agbonlahor emphasizes starting these discussions early, before a crisis hits. 

You want to understand their vision for retirement — whether they prioritize security, adventure or leaving a legacy — and then assess the gap between their goals and current reality.

When parents refuse to discuss finances, you might need to involve trusted friends, spiritual leaders or professional advisors who can have these conversations instead. 

 

Resources Mentioned:

Book: How to Talk to Your Parents About Money, by Etinosa Agbonlahor

The Humble Dollar Forum

 

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