How To Become Financially Free by Fifty with Jonathan Mendonsa

by | Nov 5, 2019 | Podcast, Raging Bull podcast, WealthWise

WealthWise | So What is Money, Anyway with Shannon Graham

Jonathan Mendonsa

Go to school, get a good degree, get a steady job, earn a million… and still find yourself paying off the student loan that you took out to get a degree, get a steady job, and…

If something seems wrong with this picture, maybe it hits close to home? There are now more than 44 million Americans with outstanding student loan debt, totaling more than $1.5 trillion!

Our guest today, Jonathan Mendonsa, started the learn-loan-live-life-lookback path and initially had a successful career as a pharmacist. But pretty soon he realized the massive debt burden he was under, and devised a way to free himself of that debilitating debt.

But then the question arose, “What next? Now I’ve paid off the debt, what would happen if I continued the same techniques… what then?”

Jonathan applied the same thinking to become financially independent, which he shares as the idea that you get to choose what you want to do, whether you want to work or not.

He also shares why the current financial calculators are all flawed because they calculate what you will need to retire or become financially independent based on what you earn. But there is a much better way of determining how to become financially independent.

Jonathan co-created the podcast show, ChooseFi, as part-journey, part-experiment. He and his co-founder and friend Brad decided to do two things. First, is that the one who had already reached financial independence in their early thirties was going to kind of act as a mentor, and the second, was the one who was still on the path to financial independence, was going to confirm that this method still worked.


The result is a proven, practical, and inspiring path to become financially independent. A plan and an approach that anyone can apply to clear their own debt and reach a state of financial independence.


ChooseFi has helped thousands of people to realize the power of pursuing financial independence. As co-host and co-founder of ChooseFI, Jonathan has used his love/hate relationship with frugality and economy as a fuel to build a community around the financial independence – or “FI” – lifestyle.


Join us as Jonathan shares how to become debt free and financially independent!

Recent WealthWise Podcast Episodes

CEO Steals Car and Surfs Away

  Decisions, decisions, decisions… Without decisions, there is no action, only dreams. Alex Fang is CEO of Sublime Canna Cannabis Corporation, and he’s developed a decision-making process that creates predictable and successful outcomes.  Whether that’s acing the...

Seven-Figure Podcaster Shares His Wealth Secrets

John Lee Dumas is the host of Entrepreneurs on Fire, an award-winning podcast.   In the last 7 years, he’s interviewed over 2,300 inspiring and successful entrepreneurs such as Tony Robbins, Seth Godin, Gary Vaynerchuk, Barbara Corcoran, and Tim Ferriss. This...

Next Time You Feel Like Quitting…

What’s one of the biggest mistakes most traders make? Nate knows better than anyone. A handful of bad trades can mess with your trading account, if not your head. You start to take it personally and blame yourself. And then you win a few trades, your trading account...

How the British Royal Family Could Be Wealthier

Our WealthWise Editor, David Cross, is British. But, hey—let’s not hold that against him! 😉 David shared a tip with me today that I believe can help bring a wealthier life to anyone—even the British Royal Family! You can’t help but have noticed the British Royals’...

How Jim Saves Lives and Builds Wealth

Dr. Jim Dahle is a practicing board-certified emergency physician. Every day he saves lives and improves people’s health. And every day he builds wealth and shows others how to do it. Like many highly skilled professionals, Jim graduated from college and immediately...