The FI Show: Recent Episodes
Cody Berman and Justin Taylor
Cody joins Amy Porterfield on the Online Marketing Made Easy podcast to talk all about digital products.
He covers topics such as:
- The best platforms to sell digital products
- How to find digital products you might already own
- How to get more subscribers using printables
- How to make more money with digital products
- How to add digital products to your existing business
And all about what’s inside his E-Printables course.
Hope this helps someone else start their digital product journey.
If you enjoyed this, please share this episode with a friend!
Links from The Episode E-Printables Course (with FI Show discount) * Original episode on Online Marketing Made Easy YouTube Interview*https://www.youtube.com/watch?v=E_ELCryyjEM
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Our friend Sunitha Rao came from humble beginnings.
Her parents spent most of their lives in one of the poorest regions in India.
Despite all odds, Suni became a professional tennis player and traveled the globe playing in different tournaments.
Years later, she turned her competitive nature toward real estate.
Her real estate career quickly started to explode, and she’s been addicted ever since.
This episode originally aired in 2019, but it was so good, we decided to replay it.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* + Suni’s Original Episode from 2019 + Suni’s LinkedIn + Suni’s Instagram
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
2,000,000 downloads!
And it’s all thanks to listeners, viewers, and readers like yourself.
In today’s episode, we reflect on everything that has changed and everything that hasn’t.
Cody & Justin have increased their net worths by a combined $5,000,000!
Justin retired 10 years sooner than he ever imagined.
Cody created a multi-seven-figure business around an idea he never even considered.
Those are just a couple of big highlights with other highlights including:
- New Investment Strategies
- Flips
- AirBnB – ownership and management
- Covered Calls
- Syndications
- Hard Money Loans
- Lifestyle Changes
- Girlfriends have become Wife/Fiance
- Justin stopped drinking
- Cody and Justin are in even better physical shape than 6 years ago
- They both focus more on value than purely price
- Justin listens to EDM and drinks coffee….never saw that coming
- What Hasn’t Changed
- Keeping the “big 3” expenses low
- The majority of our investments are still total stock market funds
- Experiences are still the priority over material objects
We continue to do this show because of you all.
Every time we hear a story of how we inspired someone or introduced them to a concept that is now helping them live the life they dreamed of, it pushes us to keep going.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend!
Links from The Episode* 2018 Reflection, 2019 Goals episode * 2019 Valentine’s Day episode
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Jane Kanizay went from financial freedom to divorce to financial freedom again while achieving amazing physical feats along the way.
Jane is an adventurer, educator, activist, speaker, artist, and mother of four who successfully climbed Mt. Everest with her 19-year-old daughter on May 14th, 2022.
Jane climbs with the message of Teach Us Consent to campaign for holistic consent education in the school curriculum and to advocate for the prevention of violence against women. This mission helps push her to her physical and mental limits.
High-altitude mountaineering is one of the deadliest sports in the world.
It’s also very expensive and hard to imagine being possible for most teachers.
That’s where Jane’s background in real estate shines.
She built a portfolio that is now funding her amazing adventures.
She also gives us an in-depth breakdown of the financial abuse she tries to educate on and advocate against.
Some signs of this abuse from a partner might include:
- Controls access to finances, won’t let you access bank accounts or credit cards
- Expects you to pay for bills, groceries, and other basic necessities but gives you little or no money to cover those costs
- Forbids you from working or deliberately sabotages your ability to get or hold down a job
- Refuses to work or contribute to family expenses
- Takes out loans or accrues debt in your name
- Doesn’t include you in significant investment or banking decisions
- Refuses to pay or evades child support
- Hides assets
- Incurs fines or infringements in your name then expects you to pay them
Jane’s story is so inspirational and we hope that she helps you get out of your comfort zone and achieve the seemingly impossible.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* Jane’s Instagram * Jane’s Website * Teach Us Consent * Caitlin James’ Episode
YouTube Interviewhttps://youtu.be/JUHxxcX8AKY
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin discuss how Justin will travel the world for 6 months at a shockingly low price.
In total, the trip will cover 161 days as currently planned.
The cost is only $46 per day!
That cost includes flights, trains, ferries, accommodation, and activities for one person.
Below you can find the locations Justin will be visiting,
We’ve also included the packing list since Justin is only taking a small backpack for the entire trip.
Locations include:
- Philipines
- Manila
- Coron
- El Nido
- Indonesia
- Ubud
- Gili Islands
- Nusa Islands
- Vietnam
- Hanoi
- Ninh Binh
- Cat Ba
- Thailand
- Krabi
- Koh Lanta
- Chiang Mai
- Bangkok
- Amsterdam
- Chur, Switzerland
- Italy
- Milan
- Rapallo
- Monterosso al mare
- Florence
- Rome
- Naples
- Ischia
- Lipari
- Palermo
- Sardinia
- Barcelona
Packing List:
- Backpack
- Rainjacket
- 5 shirts
- 4 pair of socks
- 5 pair underwear
- Midlayer
- Windbreaker w/ kangaroo pouch
- Toiletries
- Toothbrush
- Hat
- Portable battery
- Phone Charger
- Travel adapter
- 5 pocket pant
- Light down jacket
- half length Buff
- Khaki shorts
- Sandles
- 4 pair of running shorts
- eyemask
- headphones
- microphone
The craziest part? Justin is going to be breaking even from this trip due to the Airbnb income from his primary residence (covered in this geohacking episode).
We hope this inspires you to consider that big trip you thought you couldn’t afford.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
One of the questions we get asked most often is for guidance on what someone should and should not spend money on.
The answer is always… it depends.
What’s important to me, may not be important to you.
Jen Smith is here to give everyone the framework to make those tough decisions.
This framework is called Value Based spending.
Jen lays it all out in her new book, “Buy What You Love Without Going Broke“.
Long-term listeners may remember Jen from episode 58, “Frugality without Deprivation,” in 2019.
She’s also still rocking things over at the Frugal Friends Podcast.
In today’s episode as we discuss the book you’ll find answers to the following:
- Why is it so hard to stop spending money?
- What is values-based spending and how is it different?
- What’s the problem with telling someone a budget will solve their spending problem?
- What’s the point of learning values-based spending when the bigger issue is that we don’t earn enough money?
And so much more.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* Pre-order the book! * Frugal Friend’s Podcast
YouTube Interviewhttps://youtu.be/dsl4EQekk4M
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
You never know how close you are to a great story.
I (Justin) learned that on my recent trip to Africa on my way to hike Mt. Kilimanjaro.
Boarding my flight I met Caitlin James as she was on her way to climb the very same mountain.
The more I heard from her, the more I realized I had come across a truly amazing story.
Caitlin was paralyzed in a boating accident.
Through surgery and rehab, she eventually regained the ability to walk.
Walking was just the start though.
She jokingly said if she could walk again she’d climb a mountain in a banana suit…and that’s exactly what she did.
That first mountain hooked her, and she has racked up an insanely impressive list of summits in just a couple of years.
This story may not seem relevant to some for this show, but we thought it made perfect sense.
Many people want to do something adventurous, travel, and spend their days outside instead of behind a computer.
These reasons are what drive them to retire.
But Caitlin isn’t waiting for retirement to live out her dreams and pursue her passions.
Instead, she is making her passions her career.
Caitlin reinvented herself and her career. Check out her expeditions over the last couple of years:
NORTH AMERICA
DENALI Alaska 20,310
MT WHITNEY, California 14,505
MT RAINIER, Washington 14,411
MT HELEN, Washington 10,786
SOUTH AMERICA
ACONCAGUA 22,837 (Normal route)
Ojos del Salado 22,615
(Argentinian side)
PERU
Cordillera Blanca Range;
Huascaran 22,205
Chacraraju 20,039
Salkantay 20,574
Ausangate Nevado trek;
Machu Picchu 7,972
Huayna Picchu 8,835
Rainbow Mountain 17,060
Nevado Ausangate 20,945
Nevados Ojos del Salado 22,569
ECUADOR
Chimborazo 20,549
EUROPE
MONT BLANC 15,777
MATTERHORN 14,692
The EIGER 13,642
The ALPHUBEL 13,799
DOLOMITES 10,968
MONTE ROSA 15,203
BRITISH COLUMBIA
MT LOGAN 19,551
MT FAIRWEATHER 15,325
MT ROBSON 9,281 FT
AFRICA
Kilimanjaro, 19,341 (3x in two years)
Umbwe, Marangu, Machame Route
Mt Meru 14,980
Cape Town 3,563
CHILE
Torres Del Paine (Patagonia)
JAPAN
MT Fuji 12,388
MT Tsurugi 9,839
NEPAL
EBC TREK 17,598
LOBUCHE 20,062
ISLAND PEAK 20,252
MANASLU C3 23,622
INDONESIA
SUMATRA 12,484
AUSTRALIA
MT KOSCIUSZKO 7,310
MT TOWNSEND 7,247
GREAT OCEAN WALK 240 Kilo/149miles
We hope this inspires you to consider how you can chase your dreams now and not feel as though your life is chained up until retirement.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* Caitlin on Instagram * Caitlin’s Website * Caitlin on TikTok * Caitlin on Facebook
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Cody shares his digital product journey on the How to Sell Your Stuff on Etsy podcast with Lizzie Smiley.
He covers topics such as:
- How to find profitable products
- Keyword research and SEO
- Strategies for making more sales
- Student success stories
- Why Etsy is the best platform for beginners
And all about what’s inside his E-Printables course.
Hope this helps someone else start their digital product journey.
If you enjoyed this, please share this episode with a friend!
Links from The Episode E-Printables Course (with FI Show discount) * How to Sell Your Stuff on Etsy podcast YouTube Interview*https://youtu.be/wm-_wRkh16g?si=S1tyaVbGjU6g8UMJ
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
If you love the personal finance space, chances are you’ve heard of FinCon.
Today, we bring you Philip Taylor who created and grew FinCon into the massive pillar of the community it is today.
For loooong time listeners, you may remember Cody interviewing PT at FinCon back in 2018.
You’ll hear the origins, the heights, the COVID-19 survival, and the future of FinCon in this episode.
PT isn’t stopping with one conference and is now running a second called TravelCon in addition to expanding his family’s accountant business.
Don’t forget to snag your ticket to FinCon while you still can.
This year’s event will be in Atlanta, October 23-26.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* FinCon * TravelCon * The Creator CPA * PT Money
YouTube Interviewhttps://youtu.be/hhCSECSDJag
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Long-time listeners may remember Nick’s episode from Episode 56 way back in 2019.
We felt like this classic episode and fundamental topic needed to be brought out of the archives and revisited.
Nick Loper is the side hustle king from Side Hustle Nation.
Nick got an eye-opening opportunity in college and knew he had to be his own boss.
He would eventually work for three years in the corporate world.
During that time he was building his side hustle.
It was quickly covering his expenses and he never looked back.
We really help you focus on how to choose the right side hustle for you.
- Nick recommends finding two areas you’re in the top 50% in
- Then find a way for those two things to intersect
- He also suggests trying out things to experiment
- You’ll often find your true golden idea once you get started on a project
- If you begin to dread the work, it may be time to stop working on that side hustle
Listen and learn all about side hustles and let us know what you think.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* + Side Hustle Nation + List of Side Hustle Ideas + Nick’s YouTube Channel + Follow Nick on X
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin discuss Justin’s recent summit of Kilimanjaro.
You’ll learn all the details, pricing, and considerations if you’re interested in this major summit, as well as the mental growth and lessons learned from pushing your body to the extreme and living without your normal luxuries.
Some topics include:
- What to pack
- Cost of the trip
- A typical day on the hike
- Overcoming mental hurdles
- Embracing simplicity
Even though he battled sickness every day of the hike, Justin would highly recommend trying this summit.
And even if you don’t, hopefully this episode inspires you to try something that challenges you.
Please subscribe, leave a review, and share with a friend!
Links from The Episode* Company Justin Used for the Kilimanjaro Summit * Recommended rinse-free bathing wipes
YouTube InterviewComing soon…
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Cody shares how he’s able to earn over $75,000 per month in passive income on the Forget About Money Podcast.
His big four are:
- Digital Products
- Real Estate
- Affiliate Marketing / Sponsorships
- Stock market investments (doesn’t really count, but we explain)
If you enjoyed this, please share this episode with a friend!
YouTube Interviewhttps://www.youtube.com/watch?v=g1bh6ZIld6w&t=1276s
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What would you be willing to do to hit financial independence early?
Michael Alberse lived differently for 2+ years to save over 90% of his income as a Google employee.
In this episode, we talk about:
- Living in a van
- Managing finances with a significant other
- Landing a 6-figure job (with insane perks)
- Starting an agency
- Small business investing
- Finding your “why”
And so much more.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* Michael’s Instagram
YouTube Interviewhttps://www.youtube.com/watch?v=uoR3Ae1oYtQ
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin discuss one of the most heated investing arguments.
Should you hand-select the “best” companies, or invest in the total stock market?
Some topics include:
- Individual stocks are often investors’ first exposure to the stock market
- The mental drag of stress from volatility
- How individual stocks can scratch the itch
- Setting non-negotiable limits
- More certain path to FI vs the potential for a home run
- Bad bets we’ve made on individual stocks
As part of this discussion, we compared several individual stocks against VTSAX.
VTSAX is an index fund Vanguard offers and tracks the total stock market.
List of stocks including present-day value and annualized return if you invested $1,000 on Aug 9, 2004, and reinvested dividends:
- VTSAX
- $5,807
- 9.19% average annual return
- Intel
- $1,623
- 2.45% average annual return
- 7th Market Cap
- Abercrombie and Fitch
- $4,679
- 8.02% average annual return
- Couple of years after Hollister’s launch
- Apple
- $396,562
- 34.85% average annual return
- Released iPod Mini
- If you bought on July 6, 1994 (Forrest Gump release date) -> $1.1M (26%)
- Coca Cola
- $6,007
- 9.37% average annual return
- Released C2
- General Electric
- $1,243
- 1.09% average annual return
- 5th Market Cap
- Wells Fargo
- $2,627
- 4.95%
- 15th largest market cap
- TI
- $11,496
- 12.98% average annual return
- Year TI-89 was released
- Sony
- $2,691
- 5.07% average annual return
- PSP release date
- Nokia
- $730
- -1.56% average annual return
- 9 phone releases
We cover all of this and more.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend!
Links from The Episode* Stoculator
YouTube Interviewhttps://youtu.be/0N4IlLBrYV0
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin talk about something we thankfully haven’t had to deal with for the majority of the last 10 years.
We’re talking Bear Markets and Recessions.
We originally aired this episode back in 2022.
This goes to show that there will always be cycles.
Should your investment strategy change?
Is there anything you can do to lessen the blow?
How do inflation and mortgage rates factor in?
Can you spin a recession into a positive thing for you?
We’re going to cover all this and more.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Long-time listeners may remember Brooke from her feature in Episode 134 way back in 2021.
Brooke had already begun to build some impressive businesses but was still spending her days as a teacher.
Since then, she’s gone all in on her career as a real estate agent.
But Brooke didn’t simply become an agent, she quickly rose to the top 1% in MA, CT, and RI.
To put some numbers on that, Brooke has sold over $100M in real estate!
Now she’s helping to show other realtors how to copy her success and grow their business.
She’s doing that through her book and community, She Closes Deals.
Even if you’re not looking to enter the real estate space, Brooke’s mindset and general frameworks can help anyone.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* + She Closes Deals + Brooke’s Instagram + Brooke’s Previous Episode
YouTube Interviewhttps://youtu.be/WexdmhwIfHg
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What kind of wild advantages do you need to retire at 33 comfortably?
How extreme must the deprivation be to do this without a miracle?
What if we told you that there’s no inheritance needed and you can thrive while on the journey?
Justin shares his full journey (including all of the numbers) and how he retired at age 33 on BiggerPockets Money.
Some topics include:
- Low-Income to FI
- Searching for Time Freedom
- Starting to Invest
- Calculating Your FI Number
- How Much He Spends
- Income and Savings Rates
- What He’s Investing In
- Create Your FIRE Plan!
If you enjoyed this, please share this episode with a friend!
Links From the Episode* Justin on BiggerPockets Money
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Cody & Justin have worked hard on their finances and fitness over the past few years.
Through these pursuits, they’ve noticed many similarities in the methods it takes to be successful in both.
Some of these areas include:
- Compounding
- Tracking
- Social norms
- Mentality
- Budgeting
Unfortunately, the fitness and finance worlds have been purposely overcomplicated for financial gain.
We hope we can break through all that noise for you and show you how simple it can be.
If you enjoyed this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Is it really possible to reach financial freedom in your 20s?
Cody shares his full journey (including all of the numbers) and how he reached financial freedom at 25 on BiggerPockets Money.
If you enjoyed this, please share this episode with a friend!
Links From the Episode* Cody on BiggerPockets Money
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
It’s been a while since Cody & Justin were able to catch up on life’s events, so you’ll hear all about it on today’s episode.
You’ll hear about Cody’s latest house flip and Justin’s Alaska/Portland/Washington/Puerto Rico/Africa adventures
They’ll also take you through some interesting finance articles they read recently including:
- A California law that will require high schoolers to learn personal finance before graduation
- A new spending rule that helps give your discretionary spending category some direction
Cody and Justin are constantly getting into something new so we hope you enjoy this opportunity to get all caught up with them
Thank you all for listening and may this episode help you on your path to a financially independent future.
Links from the Show* California Financial Literacy Requirement for High School Graduation * The $1 Per Use Rule
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Cody breaks down his various income streams on the Growth House Podcast and how he used them to reach FI at age 25.
If you enjoyed this, please share this episode with a friend!
Links From the Episode* Jesse Ray on The FI Show * Growth House Podcast
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
From an early age, Ramon knew that he wasn’t cut out for corporate America.
So, in his early 20s, with only $1,000 to his name, he took a chance and got his real estate license.
After many hard lessons yet eventual success, he decided to open his own brokerage just two years later.
The astonishing thing is that Ramon opened a brokerage when he was only 24 years old.
He now runs one of the top brokerages in the entire country!
In this podcast, he shares the entire journey including the ups and downs of the business, revenue and income numbers, and what continues to motivate him.
If you enjoyed this episode, please share it with a friend!
Links from The Episode* + Ramon’s Instagram + Ramon’s YouTube + Ramon’s Real Estate Brokerage + Ramon’s Real Estate Media Company
YouTube Interviewhttps://youtu.be/Fiur7fzktRc
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
How much money you make is certainly an important factor for early retirement.
However, it’s not the most important factor.
The amount you keep is truly what matters.
This is largely driven by how much you spend and how much you give to the government.
Giving to the government is a reference to your tax bill and that’s where Tom Wheelwright comes in.
Tom runs WealthAbility where he helps business owners permanently lower their tax bill.
Many people are giving away thousands of dollars that are rightfully theirs if they fully utilize the tax code.
If you found this episode helpful, please share it with a friend!
Links from The Episode* WealthAbility * Book: Win-Win Wealth Strategy * Book: Tax-Free Wealth
YouTube Interviewhttps://youtu.be/EEdwspnvQDo
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Cody & Justin both “retired” pretty early and are known to be frugal, but what do they surprisingly splurge on?
That’s exactly what you’ll hear in today’s episode.
We cover travel, services, luxury items, health, etc.
Some things, like Justin’s cell phone upgrades or Cody’s gourmet meats, might surprise you.
Overall, it’s abundantly clear after hearing this episode that you can maintain a healthy budget, retire early, and live an amazing life while doing so.
Thank you all for listening and may this episode help you on your path to a financially independent future.
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What’s better than just making money?
Making money while you sleep.
Ryan Hogue joins us today to give us a major deep dive into several passive income streams.
The two big ones are fulfillment by Amazon (FBA) and print-on-demand (POD).
Print-on-demand is especially compelling because it requires no risk and is extremely passive.
Just come up with an idea…or even just a word.
Customers get that on a shirt, bag, mug etc.
Or maybe you can find a unicorn product to sell via Amazon FBA.
Ryan has built up $50K/mo in passive income with these side hustles!
You won’t want to miss this one as Ryan brings all the real-world details so you can give these streams a try.
If you found this episode helpful, please share it with a friend!
Links from The Episode* Ryan’s Courses * Ryan’s YouTube Channel * Ryan’s Website * Passive Income Podcast * Cody’s Digital Product Workshop
YouTube Interviewhttps://youtu.be/cbjTJk-UNRs
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
W-2 jobs don’t often get a ton of love in the financial independence space.
However, we’d argue it’s the most likely path for the largest percentage of people.
Especially when you learn how to really squeeze all the value out of that career.
Brian Feroldi joins us to discuss just how to do that.
Specifically how to leverage Stock-Based Compensation (SBC).
It’s possible that the stock your company gives you makes you more money than your entire salary.
But it can be a nuanced subject with terms like Options, RSUs, vesting period, etc
Make no mistake, the golden handcuffs get their name honestly.
This compensation is a tactic to hold onto the best and give you a big reason to stick around just one more year (then one more…)
It also aligns you and the business to the same overall goal via incentives.
That goal is to maximize profits because if the company wins, you also win.
You may have been curious about Stock-based Compensation or maybe you’re already in this world but need more clarity.
Either way, this episode will answer all those burning questions and show you how to maximize every last drop of your W-2 job.
If you found this episode helpful, please share it with a friend!
Links from The Episode* Brian’s YouTube * Brian’s X (aka Twitter) * Brian’s Instagram * Brian’s Website
YouTube Interviewhttps://youtu.be/KNd7r1uJD7I
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
The podcast has been around for more than 5 years.
That means it’s actually old enough to follow our entire journey to financial independence.
Jesse Ray was listening to our episodes back in 2020 sitting in his cubicle.
Less than 2 years later, he retired from the corporate world and we’re pumped to bring you his story today.
Jesse has cultivated a co-living brand (Growth House) and real estate portfolio.
He takes homes, adds bedrooms, and rents out the rooms individually.
We’ve seen this before, but Jesse took it a step further.
He’s specifically marketed his homes for entrepreneurs who want to better each other and share common interests.
This means there’s a true community and respect for his homes you typically don’t see.
After purchasing just two of these homes, he had enough cash flow to cover all his expenses!
He acquired both homes in under 2 years, making it one of the fastest paths to financial independence we’ve ever seen.
Tune in for the full breakdown and as always, thanks for listening!
Links from The Episode* Jesse on Instagram * Growth House Site * Growth House Podcast
YouTube Interviewhttps://youtu.be/gB4kVDRN-zw
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Who doesn’t want to vacation more?
Too bad it’s so expensive…
But what if it was cheaper than living your normal day-to-day life?
Introducing Geohacking.
Geohacking is when you rent out your primary residence while you travel to a cheaper cost-of-living part of the world.
Justin and his fiancé Leslie just recently spent a week in Puerto Vallarta.
The cost of their oceanside condo, roundtrip flights, and multiple excursions was less than what they earned from renting out their house in Austin, TX for 4 days.
They actually got paid to go on vacation.
In this episode, we unpack this idea of Geohacking and teach you exactly how to get started.
If you enjoyed this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today’s episode, Cody and Justin are joined by the insurance guru from Simply Insurance, Sa El.
Sa El got started after a tragedy in the family and is now trying to make sure that never has to happen to anyone else.
In this episode, we cover every type of personal insurance:
- Health
- Dental
- Life
- Renters
- Car
- and more
We also jump into the problems with our health insurance system in the United States and things on the horizon to give us more transparency.
For you money nerds like us, we also discuss parent’s life insurance and how becoming the Owner/Payer/Beneficiary of the policy might be a good financial move.
If you enjoyed this episode, please share it with a friend!
Links From the Episode* Simply Insurance
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
A financially independent life sounds pretty amazing, but do you want to spend it alone?
Most people want time to spend with their loved ones, and none more than their life partner.
Maybe you already have yours, or maybe you’ve never even considered how this would change your path.
Either way, today’s episode is for you.
This episode was inspired by Justin’s recent engagement!
The guys discuss several areas around the topic of financial independence with a life partner including:
- Tax benefits
- mentality shift
- priorities changing
- lessons learned
- and more
Most of the discussion is high level but we do get in the details a bit more on one subject, and that’s the real estate pro designation.
All in all, we think life is better with a partner and their addition is nothing but positive in terms of a path to financial independence.
Thank you all for listening and may this episode help you on your path to a financially independent future.
Links from the Show* Real Estate Pro Designation
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Our favorite part of the financial independence community is just that, the community.
And no one embodies the principle of community better than Matt and Joel.
They are also the dynamic duo behind HowToMoney and the How to Money Podcast.
We’re such huge fans of these guys that we decided to dig into the archives and replay their episode for our listeners who may have missed this one.
This fantastic conversation unwraps their backstory and tons of tangible tips on saving money without sacrifice.
From groceries to real estate, to building a community for their young families, this episode is great for all audiences.
Go give it a listen and let us know what you think!
Links from The Episode Their Website: HowToMoney.com
Their Podcast: How To Money
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Scott Trench and the folks at BiggerPockets have made real estate investing much more approachable for a massive amount of people.
They’ve truly built a holistic empire of real estate education.
And while we’ve had Scott on the show before, it was a few years ago, and a lot can change in a few years.
In today’s episode, we focus on the state of real estate and the economy as a whole.
What does Scott think is going to happen over the next 1, 5, or 10 years?
Has his real estate investing philosophy changed since the last time we talked?
Tune in for the full breakdown and as always, thanks for listening!
Links from The EpisodeScott’s Bigger Pockets Profile
Bigger Pockets Money
Yardi Multifamily Report
Investor Friendly Agents
Investor Friendly Lenders
YouTube Interviewhttps://youtu.be/1YV1SQ5WslQ
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
When it comes to networking, Mason Miranda is world-class.
Within his first year of investing in real estate, he was able to purchase 62 units… with none of his own money.
Tune in to hear the tactics and strategies he used to pull this off.
And as always, if you enjoyed it, please share this episode with a friend!
Links From the Episode* Mason’s Instagram * Mason’s Facebook
YouTube Interviewhttps://youtu.be/OPtqnFOkoWs?si=B22NwVX2Vjaw_Z0h
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Unfortunately, sometimes it takes a potentially life-altering event to step back and reevaluate your life.
For our guest Joel, it was a potentially fatal car crash that his wife was involved in. Luckily she was okay!
But it was certainly a wake-up call.
After much reflection, they figured out what they truly valued and cut down their monthly expenses by a whopping 70%…
Yes, 70%!
These changes allowed them to reach financial independence just 4 years later.
Our favorite quote was “My worst-case scenario, is everyone else’s everyday scenario”.
If you enjoyed this episode, don’t forget to share this podcast with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What is that one thing you know would make you happy?
The problem with that answer, is that often what we know turns out not to be true.
We often think we need more (time, things, square footage, vacations, etc).
In reality, what we need to be happy is already within reach, the real problem is our mindset or confusion of priorities.
Cody and Justin reflect on travels to places where people have so much less material wealth but so much more happiness.
They also cover the mental traps around chasing more they’ve fallen victim to.
The warning to the audience is to ensure you don’t delay happiness while on your journey to financial independence.
Delaying gratification of a purchase may be necessary but you have enough today to be happy…so don’t delay your happiness.
We’re all so incredibly adaptable in both a positive and negative way.
Be confident and know that you can make it through life regardless of how abundant your possessions are, but also be careful not to adapt to luxuries so that they no longer become special or meaningful.
Thank you all for listening and may this episode help you on your path to a financially independent future.
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
When your goal is financial freedom, your tax strategies may look a bit different than the average Joe or Jane.
In this episode with Keith from the Wealthy Accountant (originally aired in 2019), we dive into some of the best tax strategies for the FIRE community and how you can benefit.
If you enjoyed this episode, don’t forget to share this podcast with a friend!
Links From the Episode* Wealthy Accountant Website * Wealthy Accountant Twitter
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Can you really pursue financial independence at a young age and still live an exciting life?
Frivolous hobbies have to take a back seat right?
Sean and Alex are living proof that you can indeed build a life full in both riches of money and experience.
Justin got introduced to Sean and Alex when they reached out for some financial coaching.
It was quickly obvious that this couple had accomplished a ton already and had a massive amount of potential going forward.
They had already mastered the hardest part to teach.
The mentality.
Alex lived in a sailboat at one point, and Sean did some serious house hacking when he rented out rooms in an 8-bedroom house.
It’s another great example of how there is no blueprint, you just have to be creative and seek value that aligns with your values.
They overcame some huge student loan debts, have amassed a $750k net worth, and will be financially independent in months!
Keep in mind they did all this while traveling the world, owning a plane, flying to every state in the country, skiing, running marathons… Really too much to capture.
They have packed in more adventure than about any couple I know and are right on track for an early retirement.
We hope you enjoyed us showcasing a story of people still on the journey and will be inspired by their amazing yet repeatable path.
If you enjoyed this episode, don’t forget to share this podcast with a friend!
Links From the Episode* Sean’s Instagram * Alex’s Instagram * Sean’s website
YouTube Interviewhttps://youtu.be/_JcX1_zcM3g
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We’re money experts and would never fall for a financial trap right?
Not exactly…
Over the course of our lives, we’ve made some pretty bad money moves.
It is scary to think about how much more money we could have had at age 65 if we hadn’t blown that money.
But we’re all human, and we all make mistakes.
And that’s really what we want you to take away today.
Understand that making mistakes is part of the journey, the important part is that you learn from them.
What were some of these mistakes?
- Expensive cars that wiped out savings
- Major percentages of net worth wasted on a single volatile stock
- Whole life insurance policy
- Thinking you’ve outsmarted the market
- More
If we really examine these, most come down to emotions.
Getting sucked into the excitement of getting rich.
In reality, the math to financial independence is fairly simple, the hard part is staying the course.
Make a plan, and stick to it, regardless of the hype cycle and you’ll be rich one day.
Thank you all for listening and may this episode help you on your path to a financially independent future.
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
This episode is a re-air of the Fit Rich Life Podcast episode which explores Justin Taylor’s journey of utilizing creativity and determination to accumulate freedom-giving wealth.
Get a step-by-step breakdown of just how he reached financial independence at age 30.
In this episode, you will learn about:
- Using Adversity as Fuel to Pursue Higher Education
- How Justin Reversed Engineered His Way to Happiness
- Justin’s Use of Creative Thinking to Reach Millionaire Status
- CampFI: A Camp for Financial Independence and Wealth Creation
- The Mega Backdoor Roth Strategy
- Justin’s Journey to Financial Freedom
- Fitness Transformation & Much More!
Key Quotes:
“Do what’s best for you, not what’s expected of you.” – Justin Taylor
“If you weigh your food, you don’t have to weigh your body.” – Justin Taylor
“I’m not living a restricted life whatsoever. I’m just very efficient with my money, and I only spend it on the things that move the needle for me.” – Justin Taylor
“Anything you do in life with the right mindset, you can make it fun and cool.” – Justin David Carl
Links from the Episode* CampFI * The Shockingly Simple Math Behind Early Retirement * Backdoor Roth How-to * The Financial Independence Show – Episode 188
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What does it cost to travel the world full-time?$250,000? $100,000? $50,000?Jess Wang has been traveling ever since she quit her job in 2019 and has now visited a total of 64 countries (with a mission of reaching 100 within the next two years).In this episode, she breaks down: How she set herself up financially to retire at age 43 The real costs of full-time travel (category by category) How she managed to visit 40+ countries since retirement Tips & strategies for FI-friendly traveling How she finds accommodation, flights, and food Her favorite and least favorite destinations What you think you need vs. what you actually needAnd many more travel-related topics.If you enjoyed this episode, don't forget to share this podcast with a friend!Links From the Episode Remote Year SkyscannerYouTube Interviewhttps://youtu.be/io9OGu8LgFQJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Becoming a very successful lawyer and pulling in almost 7-figures sounds like the ultimate dream for many.But for Rachel Rodgers, that was just the beginning.The real beginnings for Rachel started in New York without a lot of money or money talks.Rachel was exposed to how the other half lived though, and that inspired her to chase after a lucrative career.That is what sent her toward practicing law.After building out a very successful practice, she realized it wasn't law that she enjoyed.She enjoyed the art of building businesses.Rachel also realized that she could help a lot of under-represented people do the same.Today, you can find Rachel running HelloSeven where she's doing just that.HelloSeven's mission statement is pretty powerful:Our mission is to help you make more money. Period. We teach you how to increase your income, build wealth, and earn 7 figures per year without sacrificing your family, health, or sanity in the process.Rachel has truly built an impressive business and community of business owners.Make sure to check the links below to see the great works that Rachel has authored and will author in the future.If you enjoyed this episode, don't forget to share this podcast with a friend!Links From the Episode HelloSeven Rachel's Book - We Should All Be Millionaires Rachel's New Audio Book - Six Figure Side HustleYouTube Interviewhttps://youtu.be/S3VKMaaz3HQJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Who needs a financial advisor when you have TikTok right?Be careful where you get your financial advice from.The internet is full of confident people, spouting absolute garbage.Some are trying to take your money.Some are trying to get clicks.And some are... just dumb honestly.No worries though, we're here to make sure you always have a top-notch financial education.Today, we'll have a little fun picking apart some of these bad takes.Some topics include: Are you destined to run out of money with the 4% rule? Are credit cards just a scam? Is there a foolproof way to get fancy things like Rolex watches for free? Do you have way too much cash in your accounts? How owning a house actually does cost moneyIt's wild how confident some of these people seem to be with their views.Financial misinformation is super dangerous and could lead you into some very bad spots.While we had fun with this one and some are almost comically bad takes, be careful out there.Remember, if it's too good to be true, it probably is (except the Mega backdoor Roth of course)Thank you all for listening and may this episode help you on your path to a financially independent future.Links from the Episode Hilarious TikTok adviceJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Last week we talked about starting a business in 60 minutes or less.No website, no logo, no business plan, just a solution to a problem and a way to collect payment.And today's guest, Brian Luebben, did just that.In fact, Brian was able to bring in over $100,000 in just 48 hours.You'll hear all about it in the episode.Brian is the author of the new book From Passive to Passionate and host of The Action Academy Podcast.We brought you Brian's backstory in episode 203.Today, we'll dive into the evolution of Brian and reflect on his book and the strides he's taken in business.This includes converting a flurry of free offerings into a roster of paying customers.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Action Academy (tell them we sent you) Brian's Book Brian's Podcast Brian's Instagram Brian's first appearance on The FI ShowYouTube Interviewhttps://youtu.be/k3JytByDFKcJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Whether it's a path to financial independence or an outlet post-retirement, starting your own business could be a great goal.But that's got to be really hard right?Today, we're bringing you a step-by-step walkthrough to starting that business with almost no effort.What do you actually need to start a business?Probably a lot less than you think.The biggest takeaways you should have are: You don't have to invent the next big thing, just provide a product/service that's slightly better than the competition You don't need a business plan, just a landing spot for people to see and sign up for your product/service. You can always add additional layers to the business after you launchDeciding what you want to do, or what you want to call it might be difficult, but if you have an idea you are passionate about, don't let the fear of starting a "real" business hold you back.Now go out there, create that new income stream, and let us hear about it in the Facebook Group.Thank you all for listening and may this episode inspire you to start your very own business.Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Retiring early sounds like an incredible goal.But to get there, you'll need either amazing luck, your own business, or to hit it big on a risky investment.Don't you?Today's guest, Bob Haines, is here to showcase why that's not true at all.Bob's story is one that's likely much more relatable for you than many of our other guests.He started saving young, he leveraged his skills to continuously push for raises, he invested, and he retired early.It really can be that simple.Bob's grandmother instilled in him a very aggressive target for saving.Save 90% of every dollar from a raise.That would ensure that his lifestyle would see small increases while hopefully, his income could see giant leaps.Bob also always pushed for his worth.He didn't just take the pay he was offered and settle.All too often, employees get fed up with their pay, make up their minds it's time to go, and magically their employer can offer them a raise.Surprise! They always could have paid you more, but why would they if you didn't ask for it?The other lesson you can take away is to bring your research.Bob actually took salary surveys and approached his boss for a >50% raise.His boss agreed he was worth it, but couldn't pay him.The main reason was relativity.Yes, Bob was worth it, but if more senior members weren't making that, how could Bob get paid that?And in some companies, it's just the percentage increase in general that has limits, not the pay itself.So if you start out low, you're always fighting an uphill battle.This is why job-hopping can be such a powerful tool.You take away the HR restriction that a pay increase can only be 10% because you're coming in as a fresh hire.Bob would hop roles and companies every few years to maximize earnings (one year over $500K).In the end, Bob was actually already financially independent before it was a goal of his or even a term he knew.Today, Bob and his family are traveling the world and have actually seen their net worth grow.Bob's story showcases that you can indeed reach financial independence the old-fashioned way.Just a skill, an employer, and a simple investment portfolio.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Bob's Twitter Bob's InstagramYouTube Interviewhttps://youtu.be/KAcHDhAQKygJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Another year down!The guys break down what they accomplished in 2023 and where they stand going into 2024.They're entering 2024 with a combined net worth of $4.2M while also being in the best shape of their lives.Cody is now married and Justin is now retired.Those are some major life updates and it's amazing how much changes each and every year.Justin had his first calendar year of giving up alcohol and Cody keeps adding to his list of successful businesses.The guys break down the episode into three major categories: Wealth Health TravelIt's a financial podcast so of course there are financial hacks covered with resources provided.But the journey is so much more than just finances.Health and wellness are also huge topics in this episode.Then the episode is rounded out by covering the laundry list of awesome travel and experiences from 2023.The road to financial independence doesn't have to be one of boring sacrifice.This gets reinforced through Justin and Cody's lifestyle every year.In 2024 we're confident we'll end up happier, wealthier, armed with new experiences, and well over 2 million downloads on the podcast!Thank you all for listening and may this episode help you on your path to a happy, healthy, and financially independent future.Links from the Episode Cody's Financial Hacks Qualified Small Business Stock Multiple Employer, 401-k Contributions Real Estate Professional Status Justin's Retirement Journey DocumentationJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
This episode is an interview with Cody from October 2022 on the Action Academy Podcast where he explains how he reached FI at 25 and built a 7-figure business.If you enjoyed it, please share this episode with a friend!Links From the Episode Action Academy PodcastJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Hopefully, you're not tired of making money with little to no effort.Today, Joseph Woodbury, Founder of Neighbor, is here to give us another way to do just that.The concept started out simple enough during college.Someone needed storage but didn't want to pay top-dollar or drive to a crummy storage facility.So what if instead, you just paid your neighbor a fraction of the amount and dropped it off down the street?That's exactly what Neighbor is.Joseph gives us the full breakdown of how they went from a Google sheet and knocking on doors, to the only storage company operating in all 50 states.You'll also hear some great stories of both huge and small-scale ways people are making passive income via Neighbor.From a spot under someone's bed in NY to large fields in rural America.Some have even gone so far as to build structures simply to put them on Neighbor.We love this concept however because no work is really needed.If you have space available that you aren't using anyway, set up your rules and rent it to a neighbor.There's rarely such a win-win.You get passive income, and they get a safer and more friendly experience at a fraction of the cost.We can't wait to hear how much you're able to make renting out that empty garage, parking spot, or yes, maybe even a spot under your bed.As always, if you enjoyed this episode, please share it with a friend!Links From the Episode Neighbor Joseph WoodburyYouTube Interviewhttps://youtu.be/2McKZN2M3eMJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
It's likely you've come up with a brilliant-sounding business idea but didn't go after it.Or maybe you wanted to be your own boss but were overwhelmed by getting started.The biggest reason most people don't start or don't succeed at starting a business is money.Maybe they run out of money before the business is profitable.Maybe they just never even start because of the fear of losing the investment needed to start.But what if you didn't need any money to get started?That's exactly what Alan Donegan is teaching people across the world how to do.He created the Rebel Business School to spread his methodology and help would-be business owners get started even when they have no starting capital.Alan was raised by a successful entrepreneur who ended up bankrupt due to being overleveraged.It almost scared Alan away from being a business owner himself.Instead, he developed mindsets and methodologies to avoid ever getting into that leveraged position.He shares successful stories from businesses you'd never expect to be able to get started without money.These include an escape room and even a restaurant.We hope this episode helps get you past that last bit of fear holding you back and start that business of your dreams.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Alan's Website Rebel Business School Website Rebel Business School Instagram Rebel Business School YouTubeYouTube Interviewhttps://youtu.be/zn0i2QwKeq0Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Today has been a long time coming...When we started this podcast Justin's, net worth was less than $300k.His goal was to retire in 2034.Fast forward 5 years and he's blown past those metrics and goals.Justin had planned on retiring in June of 2024, once his restricted stock matured.Due to an acquisition of his company, which led to a layoff, that timeline was accelerated.It's all good news though!He still gets his pay and his stock and gets to retire that much sooner.Justin had already been Financially Independent, but now he gets to tack on the RE to the FIRE acronym.So yep... It looks like at age 33 and just over $1.5M, Justin is RETIRED!!!What will retirement look like?Well, if you know Justin, you know he's extremely transparent.So he'll be documenting exactly what he does every day for his 150 days of severance to give everyone a peek behind the curtain.In this episode, we cover: Negotiating severance (or not) The do's and don'ts of layoffs RSUs and vested company stock The WARN act What to do with your 401K Justin's future and so much moreIf you found this episode helpful, please share it with a friend!Links from the Episode Justin's Log of daily activities in retirement Justin's Blog -> The daily log may move here eventuallyJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Everyone loves seeing their hard-earned money dwindle away to the tax man right?Obviously not!The most powerful techniques generally come to business owners and real estate investors.Ryan Blakke, from Learn Like a CPA, is an expert in these techniques.He's seen hundreds of returns that individuals did themselves...and only 1 who actually did it correctly.That means if you're putting all your trust in turbo-tax, you're probably leaving money on the table.Cost segregation, the Augusta rule, and resetting your cost basis when giving to charities are just some of the tips Ryan brings to this episode.As we near the end of 2023, you'll want to make sure you take action on some of these tips before it's too late.It's always a great episode when we hear about strategies we never knew existed.It no doubt brought value to our lives, and we hope you can say the same for yourself.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Work with Ryan Learn Like a CPA Instagram Learn Like a CPA Podcast Learn Like a CPA Twitter Learn Like a CPA YouTubeYouTube Interviewhttps://youtu.be/qqGKkMxHngUJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
It's Thanksgiving and we've got so much to be thankful for.We kick off the episode with some shocking stats that show just how privileged we all are to be seeking financial independence in the first place.Stats across the world such as Average income Average net worth Average daily spending How many people own a carMost of our audience makes more in a week than some of the world makes in a year.We're incredibly thankful for the opportunities we've been given to chase after.We were fortunate enough to be born into a country where we have a stable stock market, we have financing for homes, and we have countless income-generating opportunities.We also try to help the audience score some deals this holiday season...it wouldn't be a FI Show episode without some actionable tips. Check the Flipp app to see who's offering deals like a free turkey. Set up an Ibotta account for a free Thanksgiving meal. Set alerts on Slickdeals so that you don't miss out on any Black Friday opportunities.There's even a tip in the episode to avoid overeating during the big feast.We round out the episode by listing out a few things we're thankful for that felt relevant to the show.One thing Justin mentioned was being thankful for being financially prepared for any situation.This is highlighted because he may be getting laid off next week... So definitely come back for those updates.The FI Show is so thankful for everyone who has taken time out of their day to give us a listen.We hope we've helped in some little way along your journey.If so, we hope you can share this episode with a friend!Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Many people feel like a lack of capital and insider information for good deals is keeping them from starting their real estate journey.But what if you could just use someone else's money?And what if you could find deals directly on the MLS?Jaren, aka Finance Cowboy, is doing just that.He's not trying to implement any complex strategies.Jaren is finding deals on the MLS that need to be rehabbed, forcing appreciation, refinancing to get his money out, and moving on to the next property.This is commonly referred to as the BRRRR strategy. Buy Rehab Rent Refinance RepeatAnother cool thing about Jaren's story is that he actually still has his W-2.Even though he's a multi-millionaire and could live off rental income, he's got a great gig and doesn't plan on leaving.All too often W-2 employment gets looked down on in the personal finance community.The reality is that W-2 does come with its benefits (health insurance, 401k, steady pay, etc).Jaren has taken a career in sales and combined it with an impressive real estate portfolio to design a life that's perfect for him.We always love to bring you a realistic story that's repeatable, and Jaren embodies that perfectly.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Finance Cowboy Instagram Finance Cowboy Twitter Jaren's YouTube Jaren's PodcastYouTube Interviewhttps://youtu.be/4348MylLS9sJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Today, we're re-airing a fan favorite from 2019.Colin Jones was a substitute math teacher and a friend had given him a book on card counting.Once the friend was making $80/hr, Colin decided he should give it a try.To get started, he took $2k of the $6k that he and his wife had saved up.Eventually, after hundreds of hours and study and play, Colin was making $430/hr.And his team was regularly making $500k+ in a year.Now, he's more focused on teaching others the skill of card counting.If you enjoyed this episode, don't forget to share this podcast with a friend!Listen and read below to hear this incredible story.Links from the Episode Colin's Website: Blackjack Apprenticeship Colin's Book: The 21st Century Card Counter A snippet from the mentioned documentaryJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Real estate prices are out of control... right?In today's episode, you'll hear how Justin bought a house for just $5,000.No, that's not a typo, $5K!The craziest thing is that the place is in decent condition: Single level Concrete foundation Simplest roof possible No interior water damageThis house is a big project, but Justin estimates he can finish everything for under $25,000.After running the numbers, this property should blow the 1% rule out of the water.Justin is expecting to rent from anywhere between $700-$850 depending on how nice he ends up making it and how it's rented.We'll definitely be sharing updates about this one-of-a-kind property in future podcasts.If you enjoyed this episode, please share it with a friend!Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Today, we're re-airing a popular episode from 2019 on frugal vs. cheap with Jen Smith, co-host of the Frugal Friends Podcast.In the beginning, Jen and her husband find themselves in $78k of total debt.They didn’t have a ton of income, so Jen tried to add on three side hustles on top of her job.This stressed her out so much that she ended up with shingles.In totality, between all their work and side hustles, they were bringing in up to $88k.Their original goal was to be debt-free in 5 years...But in the end, it turned out to only take 23 months!In this episode, we also cover: How to be frugal "the right way" Frugality without deprivation Frugal vs. Cheap Enjoying the FI journeyand so much more.If you enjoyed this episode, don't forget to share this podcast with a friend!Links from the Episode Jen's Podcast Jen's Blog Jen'snstagramJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Today, we're re-airing one of our most popular episodes from early 2019.Paula Pant is always conducting great interviews herself but today she’s the one answering questions.She walks us through her amazing story of only three traditional years of employment, traveling the world, and the steps she took to secure her financial independence.There is something for everyone in this episode.You’ve got philosophy, entrepreneurship, freelancing, and even some great real estate tips.This discussion also gets into focusing also on increasing income and not just being consumed by minimizing expenses.Paula calls this “The gap” or the delta between your earnings and expenses.Paula graduated college in 2005 and started at a newspaper making $25k per year.She worked there 3 years topping out at $31k per year.On the side, she was freelancing and earned an additional $25k on the side in a travel fundShe then quit her job and left her lease in 2008.Paula backpacked around Egypt, Cambodia, and other countries on a budget of $1k per month and then returned to go full-time freelancing.She began taking her excess income and investing in real estate.In this episode, we also discuss how more of the focus in the financial independence space should be on the income side of the equation vs the spending part of the equation.This led us to the discussion of “The Gap” or the difference between earning and spending not necessarily just one side of the equation.If you enjoyed this episode, don't forget to share this podcast with a friend!Links from the Episode Paula's Instagram Paula's Twitter Paula's Website Paula's Free EbookJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Can you imagine owning a full-fledged brick-and-mortar business at age 15?That's exactly the position Sam Wegert found himself in.Sam was homeschooled with his seven siblings which allowed them to all focus on what they were best at.At 15 years old, with a loan of $15,000 from his parents, he purchased his first martial arts school and graduated high school that same year.Over the next 15 years, he expanded to 6 brick and mortar locations and through COVID built an online program.His company, UpLevel Martial Arts has grown to over 1,500 students and has trained more than 20,000 students in martial art.Those schools generate over $200,000/month in sales.As he built his martial arts empire, he also partnered with his wife to jump into real estate, specifically a strategy called co-living.Together they now manage over 200 doors generating over 100,000/month in gross rental income.Co-living is when you focus on renting by the room and increasing the number of rooms in a given home while providing common area amenities.There are marketplaces that help you find investment opportunities or rooms to rent yourself.Sam became financially independent at age 23 and has built a 7-figure business that's almost completely passive.If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Sam's Co-Living Challenge Sam's Instagram Sam's TikTok Sam's Website PadSplit (Co-living Marketplace)YouTube Interviewhttps://youtu.be/I2WDtiAD2iAJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
In today’s episode, Cody and Justin bring you back to one of our favorite episodes ever!This is the story of Jimmy Ridenhour who, unlike most of our guests, has no blog, book, or podcast. This was actually Jimmy's first interview ever.That doesn’t mean his story isn’t remarkable.Jimmy’s story starts out with a very tragic start that involves murder and family turmoil but he amazingly finds his way to success and has an unmatched amount of positive vibes when you meet him in person.After that tragic start, Jimmy landed on his feet (literally) as a mailman at age 18.While most people his age were racking up college debt, he was bringing in upwards of $80k a year while he put in 70+ hour weeks.This allowed him to purchase his first home for $125k and have it paid off at age 23.At age 27, Jimmy had five properties which generated enough cash flow for him to live on.His expenses were only $1,300 per month so he had an extreme amount of flexibility for his future.Jimmy's #1 tip is to just get started because you’ll learn so much from the first house.If you enjoyed this episode, don't forget to share this podcast with a friend!Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
The goal for real estate is to generate as much cash flow as possible and/or own as many doors as possible right?What if you realized the real goal is just to generate enough income to satisfy your desired lifestyle?That may seem obvious, but too often investors fixate on a high score instead of focusing on happiness.Coach Carson has previously joined us on the very first episode of The Financial Independence Show.In that episode, we cover Chad's background in detail but today we focus on the topic of his new book.That topic is the concept of the Small and Mighty real estate investor.The root of this concept is focusing on achieving the least number of doors needed to cover your lifestyle.Chad explains how chasing the least needed is much healthier than chasing the most possible.More properties equate to more headaches, and why have stress if you've already won?If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!Links From the Episode Book: Small and Mighty Real Estate Investor Chad's Website Chad's Instagram Chad's Twitter Chad's Free ToolsYouTube Interviewhttps://youtu.be/U85lcE_ibS0Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Sometimes personal finance can just sound like a bunch of jargon.Today's episode gives you all the foundational definitions you need to navigate your FI journey.We have episodes that dive deeper into some of these topics (linked below).But today is all about explaining the lingo you might hear on the show week to week.Some of the investing terms we discuss include: ETFs vs. Index Funds Expense Ratios The 4% Rule / Rule of 25 Rule of 72 Tax-advantaged accounts IRAs / 401KsWe hope this empowers you to confidently speak to your investing journey and help others along the way.If you enjoyed this episode, please share it with a friend!Links from the Episode The deep-dive episode on Roth vs. Traditional The deep-dive episode on the 4% rule The deep-dive episode on the Mega Backdoor Roth and Solo 401KJoin the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] comIf you like what you hear, please subscribe and leave a rating/review!>> You can do that by clicking here <
Can you really retire at 27?
That's what Jon Farber is here to talk us through today.
He was able to achieve financial freedom at 27 and leave his tech sales job via real estate.
He started with house hacking, and then eventually scaled up to include a portfolio of long-term rentals and short-term rentals.
He's also dabbled in online courses and runs a real estate software business helping people find deals.
Since reaching financial freedom, Jon now splits his time between the U.S. and Columbia.
He has a team of virtual assistants who currently help with the day-to-day and growing of the business.
He's basically been able to put his 7-figure business empire on autopilot.
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Jon's Instagram Jon's Twitter Jon's Website
YouTube Interview https://youtu.be/HRkppxCstdw Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
If you want to make it big in real estate you need some sort of advantage, right?
A big social media following, experience, connections… something.
Our guest today, Soli Cayetano from Lattes and Leases, will show you how that couldn’t be further from the truth.
In 2020, Soli was a senior in college trying to navigate a pandemic.
She had no family in real estate, no rich uncle, and no investment experience.
Plus, she lived in the Bay Area — one of the most expensive real estate markets in the country.
She became obsessed with educating herself about real estate investing and surrounded herself with accomplished investors.
Fresh out of college at 22, she built up the courage to purchase an out-of-state investment property in Cincinnati, Ohio — and the rest was history.
After working her 9-5, she would continue to work 5-9 to build her real estate portfolio.
She went from having no social media or connections in real estate to using social media to raise $5M+ in private capital and buying 25+ units in less than 2 years.
This allowed her to replace her income, quit her job, and become a full-time real estate investor.
Today, she can be found traveling the world and teaching others how to reach financial independence via real estate.
If you enjoyed this episode, check out the links below for more content, and don’t forget to share this podcast with a friend!
Links From the Episode* Out of State Investor Academy (Free Summit) * Follow Soli on Instagram * Lattes and Leases Website
YouTube Interviewhttps://youtu.be/q3M22CunX_Y
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Retiring early is certainly not a race, but the guests we have today are one of the fastest we’ve ever seen to do it.
James and Emily retired in less than 2 years from the day they began making moves towards early retirement.
They both had frugal habits with James coming from an especially low-income background.
They met at a local community college and were both able to graduate college debt-free through a mix of financial aid and a little help from parents.
Emily would take a job starting at $60k and James was at $35k per year in Huntsville, Alabama.
Even though they were in an affordable area with $95k of income, they weren’t saving a dime.
In 2016, James was at work and someone said they came across a website that changed their life.
The website was Mr. Money Mustache.
James immediately dove into this site as well then came home adjusting water heaters and spitting out all the things they were going to cut from their lives…probably too aggressively he’ll admit.
They estimate they cut their expenses down to $35k the next year after discovering the topic.
After cutting their expenses down as low as they could they looked to accelerate their path even more through real estate investing.
They bought their first property in the Summer of 2017 and quickly scaled to 11 properties.
Most of these units were purchased for under $50k, and all of them bring in over 1% of the cost back via rent.
- Example: A $50k house that brings in $500 is bringing in 1% every month
All of the homes were bought using traditional mortgages and when they retired, they had enough money cash flowing every month to cover over 2x their expenses.
If you enjoyed this episode, check out the links below for more content, and don’t forget to share this podcast with a friend!
Links From the Episode* James’ and Emily’s Website * Follow them on Instagram * Their Short-Term Rental Course * All Their Free Resources
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
You can learn the mechanics and math needed to reach financial independence in a couple of weeks.
The math is intimidating to so many people but it's not the math that keeps most people from reaching their goals.
It's their mindset.
That's where Adam Coelho's expertise comes in.
Adam Coelho is the host of The Mindful FIRE Podcast, a show about crafting a life you love and making work optional using mindfulness, envisioning, and financial independence.
Adam believes crafting a life you love starts with answering the question "What do I truly want?".
He helps people answer that question so they can start living the life they dream of right now.
He’s also a father, husband, entrepreneur, speaker and facilitator.
For the last 13 years Adam has worked in sales at Google, where in addition to his core role, he’s taught mindfulness, envisioning, and emotional intelligence to over 2,500 Googlers around the world.
We truly believe that these mentality skills are even more important than any level of comprehension to something like a tax code.
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Free Envisioning Guide Mindful FIRE Website Adam's LinkedIn Adam's Instagram
YouTube Interview https://youtu.be/z3cO_nH9yP8 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
The internet is a dangerous place.
It's full of amazing resources yet also some really bad advice.
This is especially true in the realm of personal finance.
TikTok has some of the most terrible and untrue statements about personal finance but Twitter (X) is always reliable right?
Wrong.
In this episode, we take you through some really terrible takes on personal finance and share our opinions.
We hope you have as much fun listening to this as we did recording.
The main tweets we cover include:
"You can't personal finance your way out of poverty" "If you struggle to save anything, allow yourself the opportunity to go broke" "401Ks are a scam" "The best form of leverage is to be debt free" "Most people who are successful are actually quite dumb. Most were lucky." Making an argument that young people shouldn't save -> "Getting a taste of the good life (going out to nice dinners, nice vacations) will make you want to work harder for those things" Defining a credit score -> "It's an I love debt score" "If you're working on paying off debt, the only time you should see the inside of a restaurant is if you're working there." "How people don't retire early: dividends, real estate, side hustles, Biz Insider BS"
If you enjoyed this episode, please share it with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We like to think we put out some of the best financial independence content for you as a podcast listener.
But it's hard to argue that Brad Barrett has influenced more podcast listeners than just about anyone else in the financial independence space.
Brad is the host of the wildly successful podcast, ChooseFI.
ChooseFI has been downloaded over 10 million times with 2,000+ 5-star reviews.
In today's episode, we touch on some of the following with Brad:
How he discovered financial independence His main takeaways after hundreds of interviews How the FI space has changed over the last several years Why the small details don't matter Designing your dream life on your FI journey and much more
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
ChooseFI The FI Weekly Newsletter
YouTube Interview https://youtu.be/PVmZN9nkVaE Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We're hopping in the time machine and re-airing one of our most popular episodes.
In this episode, we share our opinion on some of the biggest money topics.
While this episode originally aired in 2019, our views have remained largely the same.
These tips have helped us grow our combined net worth to over $3.5M! So don't sleep on the fundamentals.
Some of the major topics include: Credit Card Balances
We discuss why you should ALWAYS be using a credit card The need for setting up autopay to pay off the full balance Neither of us recommends carrying any balance
Rent vs Buy
Keep in mind closing costs, HOAs, insurance, etc It’s much more complicated than just comparing a mortgage to your rent If you can go beyond and do things like house hacking, then buying is certainly a great option
New vs Used
Justin recommends buying a car that’s 5 years old on a deal Then keep that car for two to three years and try to sell it before you hit 100k
Good vs Bad Debt
Obviously, there is some debt that’s terrible such as credit cards with 15% interest Then there is a middle ground where it’s debt that doesn’t earn revenue but allows you to invest more
Going to College
Going to a community college first isn’t a no-brainer It's so important to be intentional Many trades and technical skills don’t require a college degree
Filling Up Savings Accounts
Inflation can be destructive Many people have avoided investing during uncertain times Buy and hold
Life Insurance
What kind should you get? Does whole life insurance ever make sense? What do the experts say (our episode with Sa El)
Financial Advisors
There's value to using a tax specialist but most don't need a financial advisor It may be a good idea to pay a one-time fee for an advisor to help set up a plan you’re comfortable with These advisors often charge at least 1% which can really add up You can see how much these fees are costing you by using Empower’s Fee Analyzer tool.
We truly believe these fundamentals can radically change your life regardless how far you are into your journey.
If you got value out of this episode, please share it with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Buying a home and then flipping it or renting it isn't the only way to be a real estate investor.
What if you could just find incredible deals on homes and then line up a buyer looking for a good deal to flip or buy?
That's exactly what Mike DeHaan from the Collecting Keys podcast is doing, and it's the core of what wholesale real estate is.
Mike started in real estate by hustling to complete a few flips and using the proceeds to buy his first rental properties.
Eventually, he started to feel a bit burnt out though.
Instead of flipping the properties himself, Mike decided to sell the right to buy the properties to other investors (aka wholesaling) and the rest is history.
As of today, Mike owns over $12 million worth of real estate and has completed 300+ transactions.
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Collecting Keys Podcast Collecting Keys YouTube channel Mike's Instagram
YouTube Interview https://youtu.be/6XU7ez8udEI Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We typically focus a lot on the micro (saving, earning, and investing), but today, we're talking all about the macro.
Emmanuel Daniel is a Singapore-based entrepreneur, writer and global thought leader in finance.
He was listed as a top 10 global influencer in the “Fintech Power 50” list for 2021 and 2022.
In simple terms... he knows his stuff.
Some of the topics we discuss include:
Interest rates - how they're set, where they're headed The banking industry as a whole The digitization of everything Crypto and blockchain technology The world economy The Great Transition Biggest risks to our economy
and various other topics.
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Emmanuel's Website The Great Transition <- Emmanuel's Book Emmanuel's LinkedIn Emmanuel's Twitter
YouTube Interview Video coming soon... Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Do you know deep down, what you're doing isn't what you're meant to be doing?
That was Pete McPherson's situation.
As Pete would put it, he used to be a boring accountant, complete with a CPA license, years of corporate experience, a fantastic salary–and pretty much the rest of the “American Dream”.
But he decided to give all that up for entrepreneurship.
After 50+ failed businesses, Pete found success in 2017 with his site Do You Even Blog, and the rest is history.
In this episode, we cover:
Mindset and motivation How to determine the "right" side hustle When to double down and when to give up Turning a side hustle into a full-time business Automating everything
and various other topics.
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Do You Even Blog The Do You Even Blog Podcast Pete's YouTube Channel Twitter
YouTube Interview Video coming soon... Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Many people want financial independence to do whatever they want, go wherever they want, and spend time with whomever they want.
But too often in this pursuit, people run themselves into the ground trying to obtain this freedom as quickly as possible.
What if you could see the world and work toward FI?
Wouldn't that take some stress off? Wouldn't you be able to enjoy the journey so much more?
There is good news.
This is all very possible, and more likely today than at any other time in history.
Remote work has unlocked location independence and an overall sense of freedom we've never seen for those still working full-time.
Some highlights of this episode include:
how to ask to go fully remote considerations for the remote work lifestyle managing your time as an entrepreneur how to save money as a digital nomad geohacking and house sitting
... and more.
Don't make yourself miserable because you think that's what it takes to be happy and free. Challenge what you think is possible with your life and your career.
If you know someone who you think may be interested in remote work or if you got value out of this episode, please share it with a friend! YouTube Video https://youtu.be/Q8pJ-0ads5s Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Have you always dreamed of owning a vending machine business?
Probably not but Mike Hoffmann aka Mr. Passive is here to tell you why you absolutely should.
Mike's passive income journey started at the time when he was working a 60-hour week job that paid him only $1,200/month.
He then started experimenting with rental properties, Bitcoin mining, and a bunch of other income streams.
One of those income streams quickly became his favorite: vending machines.
Vending machines are an often overlooked but extremely powerful passive income source to fuel an early retirement.
Mike walks us through the types of machines to use, the profit margins, how to stock them, how to land a deal with a location, how to hire help, and even how you can start one of these businesses with just a couple hundred dollars.
He's been able to build a vending route that includes over a dozen machines and thousands of dollars in profit each month.
If you're interested in getting your vending machine journey, Mike also offers a coaching program to help you get started with step-by-step instructions.
FI Show listeners get $190 off Mike's Vending Accelerator program with code FISHOW10
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Mike's Website Mike's Twitter Vending Machine Business Accelerator (use code FISHOW10)
YouTube Interview https://youtu.be/vHVQ6PtS-Ig Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
You could lose your job, your business could fail, but even if your income drops to zero, there's one thing you won't lose: skills.
In our last episode with Grant Sabatier, he said skills are the future currency and we couldn't agree more.
With a good mix of skills, you will both increase your earning potential and decrease your income requirements.
In this episode, we introduce a concept we came up with around offensive and defensive skills.
With offensive skills being those used to generate income, and defensive skills being utilized to save on expenses.
The reality is that many skills can be dual-purposed.
Breaking it down further, you can bucket these skills into those that you're simply good at and those that you have and are passionate about.
Some examples of skills we cover in the episode.
Networking Carpentry Finding deals Cooking Blogging Sales Adaptability Fitness
We truly believe that obtaining skills is the ultimate hack to widening your gap between income and expenses. And that is the name of the game for early retirement.
If you got value out of this episode, please share it with a friend! Links From The Episode
Grant Sabatier's Episode
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today, we're re-airing our most downloaded episode featuring Grant Sabatier, owner of Millennial Money and author of Financial Freedom.
Grant graduated with a philosophy degree and would bounce around 4 jobs after college while being laid off twice.
He spent what money he had going on a big trip to Africa before he ended up back at his parents with $2.26 at age 24.
It was 2010 and his parents gave him a 3-month time limit to figure things out.
Grant realized that no matter what he did, he was going to be trading life for money.
With that knowledge, he became focused on how he could make as much as possible and as fast as possible.
A few weeks later he discovered Google Mobile Ads as well as a free certification course which allowed him to get hired on making $50k per year.
The work just kept snowballing from there and he found himself working 7 days a week. He spread himself across tons of projects including Google Ads, building websites, and even flipping VW vans.
A big point of emphasis from Grant is knowing where you want to go and then focusing on how much you need to make to get there. Do that instead of settling on what you think you’re worth.
He also admits that he should have slowed down a little bit on his journey to financial independence.
Grant believes you can be just as addicted to saving money as someone who is addicted to spending it and both are dangerous.
His wish is that everyone who finds themselves in a job they didn’t love would take 6 months off to discover their passions.
This episode is jam-packed with value but our top three takeaways were:
Skills are future currency: Grant speculates that, in the future, our economy will operate in such a fashion that each of us represents our own little “island” of talent. Our skill sets and capabilities will determine how much we earn and succeed. Start learning some new skills and building your future currency net worth! Take a step back and breathe: After Grant set his goal of accumulating $1.25M, he turned his engine on hyperdrive. If he could turn back time, he says that he would have taken a step back to breathe and realize all of the freedom he had already created at that moment in time. Enjoy the journey! Budgets Shouldn’t Restrict You: If you feel extremely deprived on a budget like Grant did, it might not be a great option for you. Instead, get the big things right (housing, transportation, and food) and then spend your money on the things that truly bring you joy. You don’t have to cut out your Starbucks!
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Financial Freedom: A Proven Path to All the Money You’ll Ever Need Millennial Money – Grant’s Blog Grant's Twitter Grant's YouTube
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
When it comes to building businesses, Nick Huber from The Sweaty Startup is the real deal.
Back in college, Nick had some extra space in his apartment and someone was looking for storage.
Seeing an opportunity, he gladly offers up his room as storage space.
When that fills up, he starts collaborating with some of his roommates to use their rooms as storage for the summer.
Fast forward a few years, and Nick had a 7-figure storage business on his hands.
This wasn't some radical new idea and yet it turned out to be radically profitable.
Nick feels like most businesses fail because people get too fixated on creating the next revolutionary thing instead of just solving the problem in front of them. He breaks this down by listing his top 3 reasons businesses fail:
New idea syndrome = huge risk, educating customers that you even exist, and competing with huge money and venture capital. Change the world = It is not realistic for an inexperienced entrepreneur without massive capital to change the world. Passion projects = people start businesses based on their own selfish desires and their own interests and not what the market wants.
Many of Nick's businesses came from scratching his own itch.
He hires a company, sees glaring inefficiencies, figures out how to do it better, and then productizes the new system into a business.
This has happened multiple times and he now runs a portfolio of successful businesses.
We also cover how Nick is using a strategy called cost segregation to pay $0 in income tax despite making millions of dollars in net income (he even started his own cost segregation business after seeing so many inefficiencies in the market).
If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend!
Links From the Episode
Personal Brand - https://sweatystartup.com/
Self Storage - https://boltstorage.com/
Overseas Staffing - https://supportshepherd.com/
Tax Credit - https://taxcredithunter.com/
Cost Segregation - https://recostseg.com/ Nick's Twitter Nick's Instagram
YouTube Interview https://youtu.be/slBB9TBGDTY Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We (Cody and Justin) have both achieved financial independence through drastically different paths.
This episode was a takeover episode for The Mad Fientist’s podcast where we break down the similarities and differences between an employee’s path (Justin) and an entrepreneur’s path (Cody) to FI!
Highlights:
- Live-in flip vs. house hacking
- The sweet spot for buying used cars
- Why focusing on fixed expenses is important
- How to 5x your corporate income
- The unlimited upside of entrepreneurship
- How to get started investing if you’re scared/nervous
- Nest-egging vs. cash-flowing your way to financial independence
- The benefits of a Solo-401(k) for entrepreneurs
- Why the corporate world is great for certain types of people
- Benefits and downsides of entrepreneurship
- Why it’s important to not keep up with the FI Joneses either
If you got value out of this episode, please share it with a friend!
Links From the Episode* The Mad Fientist’s Podcast * Our Mega Backdoor Roth Episode * The Mad Fientist’s Mega Backdoor Roth Article * Mad Fientist’s Twitter
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today, we’re lucky enough to bring you Marko Zlatic from WhiteBoard Finance.
Marko grew up in a middle-class household raised by immigrant parents and is completely self-taught when it comes to money, investing, and financial literacy.
His investing journey began when he started flipping Pokemon cards and selling mixtape CDs as a kid.
He then graduated to invest in stocks at 18 years old.
In December 2010, Marko graduated with a Bachelor’s degree in Finance and started working full-time.
After working in tech startups, commercial real estate, and publicly traded banks, he decided to start his YouTube channel, WhiteBoard Finance, in November 2017.
Marko walks us through his personal portfolio allocation, tips for building your own diversified portfolio, and lots of terrible advice to watch out for online.
He also gives us his take on the current state of the economy as well as his insights on how Bitcoin could factor into all of this.
If you enjoyed Marko’s story then check out the links below for more content and don’t forget to share this episode with a friend!
Links From the Episode* Whiteboard Finance YouTube * Marko’s Instagram * Marko’s Twitter * The Bullish Case for Bitcoin * Inventing Bitcoin * The Bitcoin Standard
YouTube Interviewhttps://youtu.be/lzeMhthfg9g
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Patrick McGrath, one half of the dynamic duo known as The Rental Property Couple, is a successful real estate investor, entrepreneur, and co-host of the popular podcast, The Real FI Podcast.
Alongside his partner, Patrick has built an impressive rental property portfolio in just 5 years that totals over $5M.
He began his portfolio with a humble single-family rental property.
Dedicated to achieving financial independence, he expanded his portfolio of rental properties, adding a triplex, quadplex, 6-unit, 7-unit, and 10-unit building.
Today, Patrick and his partner own 35 rental properties, each contributing to their remarkable success.
With this portfolio, Patrick was able to quit his successful career as a regional sales manager two years ago, fully dedicating himself to growing his real estate business.
This decision further cemented his commitment to financial freedom and allowed him to focus 100% on expanding his investment empire.
From property acquisition strategies to effective management techniques, Patrick‘s insightful content has become a valuable resource for those looking to build wealth and achieve financial freedom through real estate investing.
If you enjoyed this episode or maybe know someone who would be inspired by Patrick’s story, share this episode with your network!
Links From the Episode* The Real FI Podcast * The Rental Property Couple (Instagram) * The Real FI Podcast – YouTube Channel
YouTube Interviewhttps://youtu.be/VQDa5zVPdH8
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We’ve interviewed countless people on buying real estate, but that didn’t mean we were prepared when we purchased our first properties.
The reality is that people who have purchased a lot of real estate tend to skip past some of those tiny details.
This episode is meant to slow down and cover all those details that a first-time home buyer needs to remember.
In this episode, we cover:
- Understanding how much you can afford
- Setting your housing criteria
- Understanding fair market value
- Getting approved for a loan
- Building the right team
- Touring properties
- Getting an offer accepted
- Closing on the home
- Post-closing checklist
We hope this is an episode you can always refer back to when you get ready for that first home purchase so you don’t get surprised like we did.
If you got value out of this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
If you find yourself in the unfortunate reality that your marriage isn’t going to work out, do you know how to ensure you’ll exit the relationship fairly from a financial perspective?
Or maybe you want some tools to help you avoid this situation in the first place.
In this episode, Tracy Coenen, author of Find Me The Money, walks us through the ins and outs of financial protections you need to know involving the topic of divorce.
We cover
- Money conversations
- Financial accounts
- Prenups
- Postnups
- Asset valuation
- Financial infidelity
And more including some tactical tips and strategies.
The topic of divorce is never fun, you’ll feel better knowing this information if that day ever comes.
If you enjoyed this episode or maybe know someone who could use the expertise Tracy brought us today, share this episode with your network!
Links From the Episode* Tracy’s company, Fraud Coach * Tracy’s new book, Find Me The Money * Tracy’s LinkedIn
YouTube Interviewhttps://youtu.be/a2sQPw1VInU
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We say web address but why don’t we think about sites more like physical addresses we might own in a real estate portfolio?
Chelsea Clarke joins us today to show us just how powerful digital real estate can be (aka websites).
Back in 2012, Chelsea was laid off from her corporate marketing job unexpectedly. This experience taught her that being an employee was too risky. So she set out to take responsibility for her own wealth and became an entrepreneur.
She was determined to never have to return to working for anyone else again and launched HerPaperRoute as a way to share marketing and growth-hacking resources for other niche site investors.
In 2019, she’d go on to create an online marketplace for buying/selling websites at Niche Investor.
Chelsea found her niche and doubled down. She took a large but calculated risk and went all in on herself and building out this digital portfolio.
If you enjoyed this episode or maybe know someone who could use guidance in building their site or a jumpstart by purchasing an established site, share this episode with your network!
Links From the Episode* Her Paper Route * Niche Investor <- Website Marketplace * Chelsea’s Instagram * Chelsea’s TikTok
YouTube Interviewhttps://youtu.be/4KgowoA8It8
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
How do you map out your path to financial independence?
And how can you find a persona you resonate with to mimic?
Kimberly joins us today to provide answers to both of those questions.
She created Beworth Finance and wrote Building Wealth on a Dime, to help empower everyone to find financial independence even if they’re starting small.
Kimberly hasn’t always had her money figured out though.
She moved to Washington, DC making $15/hour in 2012 and more student debt than she made in an entire year.
This led to a lot of time being stressed about money.
But through that process, she perfected a system that allowed her to pay off over $45,000 worth of student debt in three years, double her income in four, and buy her first home, before her 30th birthday, in five.
Fast forward to today, and she’s currently on track to be work-optional by age 45.
Grab the link to her book below where you can learn things like:
- Six million-dollar habits
- Money mindset
- Building a budget
- Tackling debt
- Investing
- Renting vs buying
- and much more
If you have someone in your life who could use some help mapping out their path to financial independence, share this episode with them!
Links From the Episode* Beworth Finance * Build Wealth on a Dime <- Her Book * Kimberly’s Instagram * Kimberly’s Email
YouTube Interviewhttps://youtu.be/8yV2tMnSxAM
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Spending too much on groceries each month?
In this episode, Cody interviews Justin about his $107/mo grocery bill.
For many years this number floated closer to $70, but with inflation and a larger focus on getting in great physical shape, that number has grown but is still insanely low.
And not only do we cover meal ideas, but we also cover the basics of shopping.
- List or no list
- How often to shop
- What to buy
- Where to find deals
- How to navigate the store
Take a look at this meal below which is a typical meal for Justin.
This plate has 370 calories, 50.5 grams of protein, 30 grams of carbs, and 6 grams of fat.
It’s made up of 5.3oz of grilled chicken, 4.5 oz of green beans (125gr), and 3.5oz of sweet potato (100gr).
This week chicken was $1.99/lb plus sweet potatoes and green beans were only $0.67 per lb.
That means this lunch only costs:
- Chicken: $0.87
- Green Beans: $0.25
- Sweet Potato: $0.19
- Total Cost: $1.31
Keep in mind that if you did calculations of the weights and prices, you’d get an even cheaper number but you have to remember to factor in the weight you lost in the food from the water being cooked off.
We factored that in and still arrived at a killer price point.
This is one of those episodes that everyone can utilize.
Groceries are often one of our largest expenses month to month and just a few small tweaks can make a huge difference.
If you got value out of this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Roth vs Traditional is one of the oldest arguments in the financial independence space.
Today we’re settling the debate!
The reality is that there is no “right” answer but there is a right answer for you.
Cody Garrett brings his expertise to help you decide which one fits your path.
He is a fee-based financial advisor at Measure Twice Financial.
Cody had already put together a great resource that breaks down Roth vs Traditional.
But we’re taking it a step further by peppering Cody with all the questions you could ask on this age-old debate.
Have a friend you want to help educate or maybe settle a friendly debate? This episode is for you!
Links From the Episode
- Measure Twice Financial Planning
- Cody’s Roth vs Traditional Article
- Network of Financial Planners
YouTube Interviewhttps://youtu.be/kSD1tWokXuw
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
There’s no doubt that being efficient with your expenses is a huge part of your journey to financial independence.
However, maybe we focus a little too much time there and not enough time on increasing our income.
That’s exactly what Tyler Wright from Defining Wealth believes.
And Tyler has some first-hand experience in doing just that.
Tyler started out like a lot of us… age 22, a new college graduate, and $0 to his name.
It didn’t take long for him to realize that a 40-year career in a 9-5 wasn’t for him.
So he started finding ways to greatly increase his income while also investing in ways that would allow even more cash flow.
By the time he was 28, he was earning $10k per month in passive income thanks to his rental properties and investment portfolio.
And in just those 6 short years, he raised his net worth to $1.5M!
Have you been looking for inspiration to increase your income? Or maybe you know someone who needs just that, if so, please share it with a friend!
Links From the Episode* Defining Wealth * Tyler’s Instagram * Tyler’s Twitter * Tyler’s TikTok
YouTube InterviewVideo coming soon…
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
We can all agree that the earlier you learn about personal finance, the better off you’ll be.
That’s exactly why Clifton Corbin wrote Your Children, Their Money.
He’s trying to set the next generation up for financial success.
Clifton wasn’t always financially savvy though.
At one point he found himself deep into debt, and it took him years to pull himself out.
After finally getting on solid financial ground, Clifton made it his mission to help as many people as possible avoid his money mistakes.
Clifton is now a Registered Financial Consultant (RFC®), and has combined his MBA, experience managing million-dollar budgets, and understanding of economics and personal finance into creating this content for you and your children.
Tune in to learn how to set your kids up for a prosperous financial future.
If you loved Clifton’s message as much as we did, please share it with a friend!
Links From the Episode* Your Children, Their Money <- Clifton’s Book * Clifton’s Website * Clifton’s Twitter
YouTube InterviewVideo coming soon…
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Imagine living around the globe while saving up to 90% of your income.
That’s exactly what Amy Minkley has been able to accomplish.
In this episode you’ll also get the following highlights:
- How Amy used geoarbitage to create a 90% savings rate in Asia
- Real numbers behind her success
- How to overcome the fear of change and take action now to create the freedom you desire
Amy had events in her youth that led her to have an unhealthy relationship with money.
It was all fear driven.
You’ll hear how she turns that around and leaned into the financial independence community.
Today she’s leading the first Financial Independence Retreat in Bali.
That retreat sold out in days (before we could even release the episode), but be sure to connect with Amy and be on the lookout for the next event.
If you loved Amy’s story as much as we did, please share it with a friend!
Links From the Episode* Financial Freedom Retreat * Amy’s Facebook * Amy’s video presentation with FABx
YouTube InterviewVideo coming soon…
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin rip apart an article detailing The Top 10 Reasons Why You Shouldn’t Retire Early.
The topics included:
- Expensive Healthcare
- Accessing nest egg early
- Missing out on compounding interest
- Living a long time
- Expenses going up in retirement
- Rising housing costs
- Extra income is hard to come by
- Too much time on your hands
- You’ll need to make new friends
- Retirement is tough on relationships
We know our audience is way better than the personas used to often scare the early retirement community.
Our hope is this will give you a little more peace of mind on your journey to financial independence.
If you got value out of this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab our FREE Budget Planner
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Ever wonder how someone ends up being the resident expert on something like The Today Show?
That’s where today’s guest, Lauren Cobello comes in.
Lauren struggled with money at first.
She even had her car REPO’d at one point.
It makes sense why she would later write a book titled “The Recovering Spender“.
In the beginning, she was teaching coupon seminars for church groups.
That then slowly started to develop into a personal brand around frugality.
Then after a few years, her expertise and resumé grew to the point she was regularly featured on shows such as The TODAY SHOW, The Rachael Ray Show, ABC’s Nightline, Good Morning America, Fox & Friends, and more.
Lauren gives us a lot of insight into what it takes to get into big media.
But even if you’re not looking for a media feature, there are so many lessons that translate to any pursuit you’re considering — like the power of preparation for example.
When you become a trusted and reliable source of value, people will return to you with more frequent and exclusive opportunities.
If you loved Lauren’s story as much as we did, please share it with a friend!
Links From the Episode* LaurenCobello.com * The Recovering Spender * Lauren’s Instagram * Lauren’s YouTube Channel
YouTube Interviewhttps://youtu.be/5RdLaYOXn7c
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Ever dreamt of leaving corporate America to build your own business?
That’s where today’s guest, Amy Porterfield, author of Two Weeks Notice comes in.
Amy put in her 2-weeks notice in 2009 and the rest is history.
She didn’t hate her job, but she just felt that there was “something else” out there.
And so she decided to take the leap and start her own business.
At first, she struggled. A lot.
But instead of getting frustrated. She learned and improved.
Just four years later, in 2013, she made almost $1M with her brand and online courses.
Today, she has a multi-million dollar business, a four-day workweek, and a life she loves.
Amy is now teaching millions of others how to follow in her footsteps.
If you loved Amy’s story as much as we did, please share it with a friend!
Links From the Episode* Amy’s Book (Two Weeks Notice) * Amy’s Website * Amy’s Instagram
YouTube Interviewhttps://youtu.be/2FPK4tUXUNA
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
What if you could earn money from Airbnb without even owning a property?
That’s where today’s guest, Jorge Contreras comes in.
Jorge is an expert in Airbnb arbitrage, a way to earn short-term rental income without actually owning any real estate.
After facing many challenges throughout his childhood (selling drugs, murder, alcoholism, smuggling), Jorge was determined to be successful against all odds.
He initially found entrepreneurial success with his dance career, but after a devastating injury, Jorge search for alternate career paths and discovered real estate.
And later on, after realizing how capital-intensive traditional real estate was, he started to focus on Airbnb arbitrage.
Airbnb arbitrage is the idea of taking properties that are available for long-term rent, signing a lease, and then managing them as short-term rentals.
This allowed him to acquire Airbnbs at a fraction of the cost since no down payments were required.
Fast forward a few years, and dozens of Airbnb arbitrages later, and Jorge now runs a 7-figure business.
In this episode, he explains exactly how he did it and how you can get started with this strategy as well.
If you loved Jorge’s story as much as we did, please share it with a friend!
Links From the Episode* Jorge’s Website * Jorge’s Instagram * Jorge’s Facebook Group * Jorge’s YouTube
YouTube Interviewhttps://youtu.be/RqXTNqsXjhQ
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features John Eringman a.k.a John E Finance who left his accounting job at age 25 to pursue content creation full-time.
From the beginning, John was doing everything “right”.
He got good grades, landed an accounting job, and was saving a decent % of his income.
But John knew that something was missing.
As a fun side project, he started recording short videos covering basic personal finance topics: student loan debt, credit cards, budgeting, etc.
All things that he wished he was taught in school (despite having a degree in Finance).
What John didn’t expect was how quickly these videos would gain traction.
Within just a few months, he had amassed hundreds of thousands of followers across TikTok and Instagram.
And better yet, he started to out-earn his day job through sponsorships and affiliate marketing.
Today, John works as a full-time content creator and shares financial education with millions.
If you loved John’s story as much as we did, please share it with a friend!
Links From the Episode* John’s TikTok * John’s Instagram * John’s YouTube * John’s Website
YouTube Interviewhttps://youtu.be/nOu6u3WJQds
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin share their goals and strategies for 2023.
The goals were loosely broken into a few groups.
- Finance
- Justin: Hitting $2k/month from covered calls, eliminating car payment, covering half of the mortgage via Airbnb & Turo
- Cody: Solo 401K, tax optimization through real estate, syndications, angel investing, spending more on time-saving services
- Business
- Cody: Doubling down on Gold City Ventures, podcast growth, rental properties
- Justin: Upskilling his direct reports and finding them leadership opportunities
- Travel
- Cody: Slow travel & workations
- Justin: Take his dad on his first international trip, more trips w/ close friends, establish a Trusted House Sitter profile
- Fitness
- Cody: Gym 5-7 days per week, less screen time before bed, daily walks, limited alcohol
- Justin: Maintaining low body fat % and increasing muscle, a full year without getting drunk
- Other:
- Justin: Building up skills in 3d printing/laser engraving
- Cody: Always putting people before business/money
We think 2023 will be a great year for The Financial Independence Show and for all of you as well.
Make sure you pop over to our Facebook group and share your 2023 goals!
We’d love to cheer you on and keep you accountable.
Links From the Episode1. Covered Calls with Daniel Alonzo 2. Trusted House sitting with Britt 3. Solo 401ks 4. The Topia App with Logan Leckie
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab our FREE Budget Planner
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Graham Cochrane from GrahamCochrane.com and Recording Revolution.
Graham can now proudly say he’s running some incredibly profitable businesses… but it hasn’t always been that way.
After moving to Florida in 2009 with his wife to help a friend start a church, he got laid off from his new job.
Trying to find decent-paying work during a global recession proved to be difficult. So Graham started doing freelance music work again.
Although he was making some money, he was also on food stamps to help make ends meet.
Graham stuck with it though and over the next decade went from $500/month to $5,000/month to $50,000/month and beyond.
All from his online business.
In today’s episode, we cover topics like:
- How to generate business ideas
- How to validate business ideas
- Finding your ideal avatar
- The best ways to scale a business
- What it takes to create a successful business
and a whole lot more.
If you loved Graham’s story as much as we did, please share it with a friend!
Links From the Episode* Graham’s Personal Site * Recording Revolution * Graham’s YouTube
YouTube Interviewhttps://youtu.be/2SvsZ5thOeY
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Larry Ludwig who created and sold Investor Junkie for $6M back in 2018.
Larry has had a long, successful business and entrepreneurial career.
He has always been at the forefront of technology, digital marketing, and online business since he started working on the internet in 1994.
Since then, he’s created websites for Fortune 500 companies, built his own web hosting service, and consulted some of the top online brands.
In this episode, we get to pick Larry’s brain on how the internet really works.
We cover topics like SEO, affiliate marketing, keyword research, creating content, customer journey, website monetization, ranking on Google, and a whole lot more.
If you loved Larry’s story as much as we did, please share it with a friend!
Links From the Episode* LarryLudwig.com * Larry’s Twitter * Larry’s LinkedIn
YouTube Interviewhttps://youtu.be/oRc0jIrqtzQ
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Jeff Rose from Good Financial Cents.
Jeff began his adult life as a Veteran who transitioned into civilian life as a Certified Financial Planner.
He began working for a firm but found himself questioning the ethics of his compensation.
This ultimately nudged him toward entrepreneurship where he started creating personal finance content through his blog and later his YouTube channel.
Even though his original goal was just to impact a few hundred people, he’s now reached millions and has built himself a multi 7-figure business.
If you loved Jeff’s story as much as we did, please share it with a friend!
Links From the Episode* Goof Financial Sense * His Book Soldier of Finance * Jeff Rose on Twitter * Jeff’s Wealth Hacker YouTube
YouTube Interviewhttps://youtu.be/3MRAx9AA4uw
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Tom Brickman aka The Frugal Gay.
Tom actually bought his first property at age 21 while working at The Gap making only $8.50/hr.
He would go on to buy 20 additional properties.
Did he get some huge pay increase? Not really.
Tom worked at a movie theater where he started off making $32k and eventually maxed out in the $70k range.
He also did this all at a reasonable pace, taking 18 years in total to acquire all of his doors.
That’s what’s so powerful about Tom’s story. He never made a ton of money, he didn’t buy 10 houses in a year, he didn’t take out some crazy loan, and he never got some crazy inheritance.
Now he’s retired at 39 and is earning double his day job income through real estate and side hustles.
If you loved Tom’s story as much as we did, please share it with a friend!
Links From the Episode* The Frugal Gay * Tom’s Instagram * Tom’s Twitter * Tom’s LinkedIn
YouTube Interviewhttps://youtu.be/xtB8mffYrY0
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin reflect on 2022 and all of the changes that have happened.
Cody utilized a vision board going into the year… and Justin was a bit less planned, but both guys came away with some amazing updates and insights.
Some topics included:
- Justin found a lot more purpose and happiness with work
- Cody more than tripled revenue in his main business, Gold City Ventures
- Justin increased his salary by 23.5%
- Cody launched 2 Airbnbs and is flipping his first property
- Both guys did a ton of traveling
- Both guys put a lot of time and energy into their relationships and friendships
- Justin started focusing a lot on physical health (working out, dieting, and mostly eliminating alcohol).
- Cody found a great charity program called Givewell and now donates $1k per month to various causes
There’s a ton the guys go over in this episode and also a proposition at the end of the episode.
They’d love to highlight listeners who want their opinion or advice on their current situation.
Just a few small tweaks could reduce your time to retirement by several years.
We just actually published a poll in the Facebook Group if you’d like to participate.
And as always, thank you for listening. The show wouldn’t exist without you.
2022 was a great year for The Financial Independence Show and we can’t wait to see what 2023 has in store.
If you got value out of this episode, please share it with a friend!
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab our FREE Budget Planner
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Hassan Thomas, founder of FYI FLI which stands for — “For Your Information, Financial Literacy & Investing”.
FYI FLI is a brand that aims to promote financial literacy while eliminating financial illiteracy and teaches millennials how to manage and grow their money through its financial literacy app, website, and other financial literacy resources.
In this episode, Hassan covers:
- Life as a student-athlete
- Becoming a content creator
- Why learning needs action
- Inputs vs. Outputs
- The right time to quit your W-2
and so much more.
It’s clear that Hassan is trying to fill a massive gap in financial education for college athletes and he’s already making huge ripples in the space.
If you loved Hassan’s story as much as we did, please share it with a friend!
Links From the Episode* FYI FLI Podcast * Hassan’s LinkedIn * Hassan’s Instagram * FYI FLI Facebook Page * Hassan’s YouTube
YouTube Interviewhttps://youtu.be/Gv37CzXns04
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Brian Luebben, founder of The Action Academy Podcast.
Brian’s entrepreneurial resume starts back in college where he built his first company, GreekBeats DJ/Entertainment, that allowed him to graduate debt-free.
Shortly after graduating – he made it to the top of a Fortune 500 Company in a sales role earning multiple six figures per year, only to realize quickly that “retirement at 65” and corporate life simply was not for him.
Through a combination of real estate and entrepreneurship, he was able to retire from that corporate job at age 27.
He now runs a successful podcast “The Action Academy” where he talks to seven, eight, and nine-figure entrepreneurs on how to earn freedom in life and business.
His goal is to build a $10M business with The Action Academy and to impact as many entrepreneurs as possible along the way.
If you loved Brian’s story as much as we did, share it with a friend!
Links From the Episode* The Action Academy Podcast * Brian’s Website * Brian’s TikTok * Brian’s Instagram * From W2 to World Travel – Free Ebook
YouTube Interviewhttps://youtu.be/RXDXBDq7tRs
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Chloé Daniels, founder of Clo Bare Money Coach.
Chloé is a money coach and focuses her time on helping people learn how to invest and build wealth the lazy way.
Her ultimate goal is to provide education in a fun, easy-to-understand, and accessible way and is known for her Reels and TikToks that showcase her hilarious dance moves while also providing finance tips.
Despite her current success, Chloé didn’t start out with so much confidence and knowledge about money.
There was a time (back in 2017) when she struggled to see a path toward paying off her student loans.
In 2018, things started to change as she began budgeting and getting deeper into the financial space.
Things took off quickly and in 2021 she quit the workforce to pursue financial coaching full-time and is on track to retire in her 40s!
Chloé does this all in such a relatable way that comes across as fun and non-intimidating.
If you’ve been looking for someone to make personal finance fun for you, Chloé might be just the person for you (seriously, her dances are hilarious).
If you liked this episode as much as we did, please share and subscribe!
Links From the Episode* Chloe’s TikTok * Chloe’s Instagram * Chloe’s Free Money Guide * Chloe’s Website * The Lazy Investor’s Course
YouTube Interviewhttps://youtu.be/zdg3G4IAfHY
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today’s episode features Melissa Neacato from Traveling Wallet.
Twelve years ago, Melissa was a 21-year-old university student who got pregnant while completing her degree.
She finished the degree but also graduated with $46,000 in debt.
Then she went on to buy a new car, which added another $18,000 to her debt.
She eventually discovered minimalism and the personal finance community and pays off over $100K of debt in just 3 and 1/2 years.
In this episode we cover:
- Minimalism
- Mini-Retirements
- Finding Your “Why”
- Saving in a HCOL area
and so many more actionable topics.
If you liked this episode as much as we did, please share and subscribe!
Links From the Episode* Traveling Wallet (Melissa’s Website) * Learn about clothing capsules * Melissa’s Instagram * Melissa’s Twitter
YouTube Interviewhttps://youtu.be/MvcdD869OGU
Join the CommunityWe’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
- Grab the Ultimate FI Spreadsheet
- Join our Facebook Group
- Leave us a voicemail
- Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here <<
Learn More About Your HostsCodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, we recollect the past four years and 200 episodes since starting The Financial Independence Show and what we've learned along the way.
It's been an amazing journey so far and we can't thank you enough.
Some of the main topics include:
Mindset Increasing income Creative ways to lower expenses There's no "right" way Networking Taking imperfect action
It's truly a humbling experience looking back at how much has changed for the better since this show began and how we're so thankful to have you as a listener.
If you enjoyed this episode, please share it with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Kyle Nolan, creator of Projection Lab.
Kyle already had the skills to develop web-based applications when he discovered the world of financial independence.
What he didn't have and couldn't find was a financial planning tool that felt modern, flexible, and engaging.
So he just decided to build his own!
Projection Lab allows you to create beautiful and nuanced financial plans that truly represent you, your loved ones, and the paths you choose.
You get to run Monte Carlo simulations, backtest on historical data, and figure out how to live your best life and reduce anxiety around your finances.
I can't over-emphasize the word robust here.
Back door Roths, multiple drawdown strategies, SEPP distributions, loan forgiveness, cash flow priorities...the list goes on and on and on.
Kyle has built this beautiful web app all by himself and kept data protection at the forefront.
And you can utilize this tool for free!
The premium mode adds persistent data, tax estimation, advanced tax options, Sankey cash flow, visualizations, and Developer support for $8/month (20% off with code "FISHOW").
If you liked this episode as much as we did, please share and subscribe! Links From the Episode
Projection Lab (Use code FISHOW for 20% off a Premium Account) Kyle's Twitter Kyle's LinkedIn
YouTube Interview https://youtu.be/OUaFOqMGOKs Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Irvin Aguilar who took AGR Landscaping from a small-time company making $5k per month to a money-making machine hitting $250k in recent months.
Irvin saw his dad struggling and found himself struggling with college as well.
It turned out to be the perfect opportunity to inject some small but powerful changes into his dad's business.
He saw how a language gap, poor marketing, and unfair contracts were holding his dad back.
In very little time, it went from a business that helped the family scrape by to a thriving business.
Irvin didn't stop there though. He's now flipped 3 houses in just a few months and getting into short-term rentals.
If you liked this episode as much as we did, please share and subscribe! Links From the Episode
AGR Landscaping Irvin's Instagram
YouTube Interview https://youtu.be/nZLQxZ4rCDU Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Alex Fasulo, author of Freelance Your Way to Freedom.
Long-time listeners may remember Alex from episode 48.
At the time, she was making over $350k per year on Fiverr. But Alex was also working insane hours.
It eventually became clear that she needed to build a team around her to make this sustainable.
Today, she's built a mostly hands-off business that doesn't require her to work 12+ hours per day.
But of course, Alex didn't stop there, she decided she needed to build a blueprint that anyone could follow to follow in her footsteps.
And she covers it all in her new book, Freelance Your Way to Freedom.
Whether you're looking to start freelancing or scale your existing business to new heights, Alex has you covered.
If you liked this episode as much as we did, please share and subscribe! Links From the Episode
Her New Book: Freelance Your Way to Freedom Alex's Instagram Alex's TikTok Alex's Website
YouTube Interview https://youtu.be/umBAOwrX14M Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Ryan and Cory from The Weekly Juice Podcast.
Have you ever wanted to pick the brain of a thriving investor or entrepreneur, but didn’t know how?
Maybe you wanted to ask them about their successes, failures, systems, motivations, or experiences they’ve had?
Perhaps you wanted to invite them out for a coffee or beer to ask them how they reached their level of success, but couldn’t find the time?
Don’t worry, that's where The Weekly Juice Podcast comes in.
Ryan and Cory source actionable advice from investors, entrepreneurs, real estate professionals, and other successful individuals who are actively pursuing financial independence.
Today, they also share with us the history of how the show got started and how they became business partners in real estate and other ventures.
You're also going to hear about some unique passive income ideas you've probably never heard of before (like automated YouTube channels and Amazon stores).
Whether it's learning how to capitalize on the skills you've gained from your W-2 to create additional income streams or just getting to know another great podcast, this episode is for you.
And as always, if you liked this episode as much as we did, please share and subscribe! Links From the Episode
The Weekly Juice Podcast Weekly Juice Instagram Weekly Juice Twitter Weekly Juice YouTube Channel
YouTube Interview https://youtu.be/c1CmQsu5MVA Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features YouTube coach Danie Jay.
Danie started on YouTube as an ESL teacher (with her trusty $5 panda puppet) living abroad in Vietnam.
She then discovered the world of affiliate marketing and scaled her then-small YouTube channel into a full-time income.
And now she's helping others do the same!
Danie isn't only working with teachers either.
Now she's expanded to include health & wellness coaches, real-estate agents + more building stand-out channels on YouTube!
It's obvious how passionate Danie is about sharing the best video + entrepreneurial tips to help you create a truly life-changing brand + business.
Whether it's learning how to capitalize on video content or learning how Danie scaled a business that provides her the freedom to live abroad, this episode is for you.
Danie is so passionate and we hope her excitement rubs off on you, so if you liked this episode as much as we did, please share! Links From the Episode
Dannie's YouTube Channel Learn From Dannie Dannie's Instagram Ultimate Guide to Starting on YouTube
YouTube Interview https://youtu.be/-577vPYMZeU Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Martin Dasko from Studenomics.
Martin doesn't just talk and write about money. He also is dedicated to fitness, traveling, teaching, professional wrestling, and yea...making money too!
We caught up with Martin at FinCon where we not only went through his backstory but also one of his ventures we've been wanting to highlight.
Martin started doing Airbnb Experiences that led travelers around to different coffee shops. A great side hustle he can benefit from even while he is on his annual travels to escape the Canadian winters.
How crazy is that? Making money by taking people to places you'd like to go anyway and all with zero risk.
Martin has even written an e-book to teach others how to do this.
In the book, he gives you ideas and the steps to take while also highlighting real stories like a guy getting paid to walk around and eat pizza with travelers in New York.
The possibilities (and the cash) are endless!
Go check out Airbnb Experiences and see what's popular in your area and let us know if you start your own gig.
Martin is a true bright spot and wealth of knowledge, so if you liked this episode as much as we did, please share! Links From the Episode
Studenomics Martin's Airbnb Experience Ebook YouTube Instagram Twitter
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin walk listeners through six unique and relatable paths to financial independence.
We cover the assumptions and profile and then determine exactly how long it will take that person to retire.
This was a fun episode that involved a lot of research going into the backgrounds of these scenarios.
At a high level, the six paths include:
Dual Income, no kids, high W2 earners, high cost of living area Single Income, two kids, lower W2 earner, low cost of living area Dual Income, two kids, medium W2 earners + real estate, medium cost of living area Dual Income, two kids, business owners, medium cost of living area Single Income, no kids, W2 and side hustles, high cost of living area Dual Income, no kids, real estate investors, low cost of living area
We think you'll find at least one scenario you resonate with and potentially the motivation to swap paths for a faster option.
If you got value from this episode, please share it with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Sam Dogen aka Financial Samurai and author of Buy This Not That.
Sam is one of the original voices of financial independence.
He started his blog way back in 2009 and actually let Mr. Money Mustache write an early guest post before he hit it big.
Sam is known for his analytical approach and he comes with a stacked set of credentials.
He spent 13 years working at Goldman Sachs and Credit Suisse, studied economics at William & Mary, and got his MBA from UC Berkeley.
Now, he's going beyond his 2,500 articles and millions of readers and expanding into print.
With his book, Buy This Not That, he looks to give readers the courage to tackle tough money decisions without being saddled with regret.
Some of those decisions include:
Pay for private school or public school
Join a startup or work for an established company
Job hop or stay a loyal soldier
Invest in real estate or stocks
When to rent or buy
When to invest in tax-advantaged versus taxable accounts
Marry for love or marry for money
Have children early or late
Combine your finances or keep separate accounts
Buy or lease a car
Keep The Bank Of Mom And Dad open or closed for your adult children
Sam is an insane wealth of knowledge so if you liked this episode as much as we did, please share! Links From the Episode
Financial Samurai Buy This Not That <- Sam's new book Sam's Twitter
YouTube Interview https://youtu.be/wejKdW0WYco Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Justin David Carl aka Dragon, creator of Alchemize Life and Fit Rich Vegan.
If you look at Justin today you'll see Life Alchemist, Entrepreneur, Holistic Wellbeing Thought-Leader, Podcaster, Fitness & Money Coach, Fashionista, Spiritual Hipster, and the list goes on.
That wasn't always true though...
Justin had spent most of his younger years with the singular goal of getting into Stanford, which he eventually did.
However, he found himself leaving Stanford for a career in nightlife.
It was there that Justin started realizing his entrepreneurial abilities... but they came at a cost.
Although he was making great making, he was struggling with abuse, depression, addiction, eating disorders, etc.
Luckily, Justin realized he was headed down the wrong path and returned to Stanford.
There, he would get the opportunity to join an early-stage company in a sales role and increase his net worth from -$80K to over $1M in just two years.
If you enjoyed Justin's story as much as we did, please share! Links From the Episode
Alchemize Life Fit Rich Vegan Justin's Instagram
YouTube Interview https://youtu.be/2B-6-kMQB48 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Vitaliy Katsenelson, author of Soul in the Game and creator of Contrarian Edge.
Vitaliy spent the first eighteen years of his life in Murmansk, Russia, a city located above the Arctic Circle in the northwestern corner of Russia.
He and his family then emigrated to the U.S. in 1991 where he would study to become a Chartered Financial Analyst (CFA).
Vitaliy entered this country with a very strong scarcity mindset, even being blown away by the idea that you could have soda whenever you wanted.
Over the years, Vitaliy would begin writing with a focus on value investing. He started with a more analytical approach that covered financial topics, but over time, his audience grew to ask more and more for his personal stories.
Today, he fully embraces that form of author he has become with his new book Soul in the Game.
We cover some of the topics from his book such as a method to reduce decision fatigue which Vitaliy calls half-binary decisions, the importance of sinking funks, and how emotional intelligence affects investing.
Vitaliy has so much more to offer in this episode as well as in his books so we hope you find a nugget to help you live a more meaningful life.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Soul in the game - Vitaliy's New Book Contrarian Edge 6 Commandments of Value Investing The Intelectual Investor Podcast
YouTube Interview https://youtu.be/s0NgyNJQOqk Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Heather Blankenship, an RV park investor expert, who also runs Wealthy Woman.
Heather had no RV park industry experience and really no capital to get involved either.
A great financing option and a big leap of faith left her as the new owner of a struggling park near Dollywood.
Originally a money pit, Heather finally turned the park around and became profitable after three years.
Since then, she's far surpassed breaking even.
Today, Heather owns over $30M worth of real estate and has turned that rundown park into a money-making machine.
Heather continually evolves her business and adds more income streams such as golf carts, tiny homes, boat rentals, a country store, laundry, even milk & cookies brought out by their mascot for the kids -- the list goes on and on.
Oh, and did we mention she did all this while raising three kids as a single mom!?
We are humbled to bring you Heather's journey and couldn't be more impressed with her story.
If you enjoyed this episode as much as we did, please share! Links From the Episode
HeatherBlankenship.com Wealthy Woman Heather on Instagram Heather on TikTok
YouTube Interview https://youtu.be/rKagYa0GWu0 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin walk listeners through the step-by-step flow of what to do with your money at each stage of your financial journey.
Using an excellent flowchart from Reddit as a starting point, we break down the full decision tree and give you our own opinions as well (even the controversial ones).
This flowchart is broken down into the following main stages:
Budgeting Emergency Fund Employee-Sponsored Matching funds High-interest debt IRAs 401k/403b/HSA Financial Independence / Life Goals
We think this will be an episode you'll want to revisit again and again the further you go down your journey.
If you did get value out of this episode, please share it with a friend! Links From the Episode
Financial Journey Flowchart
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Ryan Chaw from Newbie Real-Estate Investing, who has created over $10k in monthly rental income.
Ryan did all this over a 5-year period of investing in California.
His strategy is to buy large single-family homes and rent them by the room to college students.
He even sometimes adds walls to these homes to increase the number of rooms.
Ryan doesn't just randomly pick tenants either, he uses his P.R.I.M.E method.
P.R.I.M.E - Placement of ad, Review social media, Identify tenant's personality type, Measure responsiveness, Ensure proof of income.
And on top of all of this.... Ryan is a practicing pharmacist who became a millionaire at age 28!
If you've been wondering how you could make money with real estate, take some notes out of Ryan's playbook.
And if you enjoyed this episode as much as we did, please share! Links From the Episode
Newbie Real-Estate Investing Ryan's Free Starter Guide
YouTube Interview https://youtu.be/MKtt5DYhjRM Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jordan Grumet aka Doc G, author of Taking Stock.
Doc G brings the best angles, analogies, and unique perspectives when talking about life and money.
He himself found himself chasing what he thought was his dream and chasing money before slowing down and really critically thinking about what was important.
In his book, Jordan takes us through his perspectives on living a purpose-driven life without regret.
He challenges us to refocus our view of money as not the end goal but simply a tool.
We all struggle with the balance of enjoying life to the fullest now and with delayed gratification. Doc G is here to help us uncover just how to find that balance.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Doc G's Book, Taking Stock Doc G's Podcast, Earn & Invest
YouTube Interview https://youtu.be/jZbSfJx5f7M Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Steve Rozenberg, author of Building an Empire: Failing Our Way to Millions.
He was an international commercial airline pilot who, after the tragedies of 9/11, was forced to realize that his “Safe and Secure career” was nowhere near as safe and secure as he had thought.
Steve chose real estate investing to be able to control his own destiny and create his own generational wealth.
With that decision, Steve would go on to create the fastest-growing property management company in the state of Texas. Managing over 1,000 properties across 3 major metropolitan cities.
Steve scaled the business up and created maximum cash flow, positioning his company for a very profitable exit.
Along with growing his property management company, Rozenberg has flipped, owned, and wholesaled hundreds of single-family homes and apartment complexes across the US.
He's a master of building and scaling businesses and shows you exactly how you can follow his blueprint. You'll learn about the 4 pillars of every business and what you should outsource first.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Steve's Book - Building an Empire: Failing Our Way To Millions Steve's Real Estate Course Steve's YouTube Channel
YouTube Interview https://youtu.be/hM4snk2XpAA Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Joseph Hogue, creator of Let's Talk Money! YouTube channel.
Joseph served in the marines but upon getting out he went to college to chase the world of finance.
He would become an investment analyst for some of the largest personal investors.
Joseph is extremely qualified to talk about a huge variety of finance topics but we brought him on this episode for one reason.
That reason was Series I Savings Bonds.
I Bonds have been a hot topic in the community as we're seeing high-interest rates which have led to almost 10% guaranteed returns!
In this episode, you'll learn how to invest, how much you can invest, and everything you could possibly want to know about I Bonds.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Let's Talk Money! YouTube Channel My Work From Home Money My Stock Market Basics
YouTube Interview https://youtu.be/JqL5UfL0euY Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Brittnay Sharman, creator of The Travelling Housesitters.
After hearing about housesitting from a friend Brittnay decided to give it a go while still living in London.
She didn’t mind that it was just down the road from her flat, or that it was only for 1 week, she just wanted to test the waters and gain some experience before diving deep into it.
It was a success -- she loved it!
She had a few months before her visa expired in the UK so she decided to head over to Ireland while she decided what to do next.
After discovering that the rental situation was really crazy in Dublin, she decided to house-sit her way around Dublin while working full time.
Then in 2019, she house-sat across Thailand, Malaysia, and Turkey all within 3 months!
Later that year she'd add on Rome, Montenegro, Greece, Croatia, and more.
2020 was mostly Australia and New Zealand for Brittnay. I think we all know 2020 cut a lot of folks' travel plans but still two awesome locations.
You can imagine the thousands of thousands of dollars she saved all while visiting places likely on your bucket list.
She did all of this while working and enjoying countries slowly, sometimes for up to a year in the same location!
If you enjoyed this episode as much as we did, please share! Links From the Episode
The Traveling House Sitters Most Popular House-Sitting Platform Brittnay on Instagram Brittnay on Facebook
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jillian Johnsrud, author of Fire The Haters.
We actually featured Jillian once prior on our show in Episode 68.
In that episode, we cover Jillian's background (quick recap below):
Jillian got married at age 19 She saw from an early age that money gave you options They started off their marriage with $55k worth of debt From the start, they always stuck to a goal to save 50% They made some difficult choices like living in a camper or roommates They would end up investing and buying rentals This would lead them to be financially independent at age 32
We also discussed her Everyday Courage podcast.
Now, she's keeping the courage theme going by inspiring others to put out their thoughts, help, concerns....life on the internet despite the trolls that hide behind every digital corner.
Jillian walks us through who to listen to and who not to. Where you should focus your energy, and what will just be a waste of time.
Most of us have something we put out into the world even if we're not writers, and with that comes criticism.
Today's episode is the perfect guide to navigating our critical world.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Fire The Haters Book Everyday Courage Podcast Jillian's website Twitter – @JillianJohnsrud Instagram – @JillianJohnsrud
YouTube Interview https://youtu.be/CFwCL2H4d-o Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody and Justin talk about something many listening to the show have never had to navigate until now.
We're talking Recessions and Bear Markets.
Should your investment strategy change?
Is there anything you can do to lessen the blow?
How do inflation and rising mortgage rates factor in?
Could this actually be a positive opportunity?
We're going to cover all this and more.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend! Links From the Episode
"Should You Be Worried About Inflation" episode
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Ryan Pineda, a serial entrepreneur who runs six 7-8 figure businesses.
For most of Ryan's life, he was sure that he'd be a professional baseball player.
And for a while, Ryan was right.
But after years in AAA and professional baseball, Ryan finally gave up on that dream.
Along the way, he had unknowingly been building skills to create his dream life.
His first business was flipping couches -- to the tune of $8k+ per month.
All that time in different parts of the neighborhood gave him a great feel for the local real estate economy.
Before you know it, Ryan was flipping houses and refining his systems.
Today, those systems allow him to scale and make millions annually from multiple businesses.
If you enjoyed this episode as much as we did, please share! Links From the Episode
RyanPineda.com Future Flipper The Wealthy Way Instagram TikTok YouTube Channel
YouTube Interview https://youtu.be/C0x9MgT_FB8 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Aleric Heck, the creator of Ad Outreach.
It all began when 12-year-old Aleric started making YouTube videos in 2009 with a camcorder.
At that time, he was just reviewing mobile apps but even that would go on to make $120k per year in 2015.
Aleric didn't stop with just an app review channel though.
He decided to go into the ads space on YouTube and turned that into a 6-figure business in 2017.
That business, Ads Outreach, took off like a rocket and crossed the million-dollar annual revenue mark in 2019!
Fast forward to today and Aleric is on pace for an 8-figure revenue year, that's over $10M!
Aleric takes us through his entire journey with tips along the way on how to best utilize YouTube and YouTube ads.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Ad Outreach Aleric's LinkedIn Aleric's YouTube Channel
YouTube Interview https://youtu.be/DcJuMtm2QHI Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Riggs Eckelberry, the CEO of Origin Clear.
Riggs grew up the son of an international businessman.
He also had a natural draw towards making the world a better place and joined a Non-profit right out of high school.
Then in the early 80s, he followed his passion for technology and started his very own tech company in New York.
Riggs eventually sold that to one of his sales reps but didn't let that stop his business journey.
After some high-level executive positions, he eventually became a CEO in the mid-2000s for what would become a major disruptor in the water industry.
This company, which Riggs is still the CEO of today, is called Origin Clear.
Today, there is a growing need for water independence as central infrastructure fails and populations migrate to secondary cities.
Origin Clear answers that call with their Water On Demand initiative which allows everyday investors to invest directly in productive water projects, thereby enabling businesses and communities to pay for only the water they use with no upfront capital required.
End-users simply sign a long-term service contract, with regional water companies providing expert support.
Innovative OriginClear modular systems are licensed to builders to standardize the fleet, leaving zero “new technology” risk as only proven technologies, systems, and methods are implemented.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Origin Clear Invest in Water
YouTube Interview https://youtu.be/r4pdU6Ms3nk Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Daniel Alonzo who is a coach, entrepreneur, podcaster, speaker, and author of Wealth on the Beach.
He brings his messaging of creating a better life and financial independence to a massive social media following and speaks in front of hundreds and thousands of people a year.
Daniel Alonzo knew he wanted to be somebody from a very early age.
When an injury in college ended his dreams of playing high-level baseball and his dreams began to fade, one of his friends introduced him to a leading Financial Services Company.
Daniel said no for a while but finally took a chance on it. From that point at age 21, he knew he wanted to win in business.
He put in the work and in only a few years he'd open his own location. By the age of 24, he was making $100,000.00 a year but still living frugally.
Today, he's amassed millions and is out there trying to spread that knowledge with everyone.
In our conversation we cover hustle, frugality, scaling, and unpack his covered call strategy.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Daniel's Book "Wealth on the Beach" Daniel's Instagram Alonzo Academy Daniel's YouTube Channel Pandrea Finance (learn about options)
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Sharon Tseung and Sean Pan.
Sharon Tseung runs Digtial Nomad Quest.
She went from $30k/year to millionaire by 30, and owns 32 rental units and several passive income businesses.
Sharon quit her job, has been traveling the world for 2 years, and all this while building passive income as a digital nomad.
Sean Pan runs Everything REI.
He has done flips, buy and holds, hard money lending, etc.
Not only have they created multiple passive income businesses, but they've also created massive online followings.
Sharon has over 150k Instagram followers and Sean has over 1 Million followers on Tik Tok.
Now they're both dedicated to teaching others how to achieve financial independence.
If you enjoyed this episode as much as we did, please share! Links From the Episode
Sharon's Instagram Digital Nomad Quest Sean's Tik Tok Sean's Instagram Everything REI
YouTube Interview https://youtu.be/8SaSYHdzpzk Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Emily Williams from I Heart My Life.
Emily was going down a path that so many others do -- following a typical career path and heading to graduate school.
She was on her way but never made it. Literally. Emily just turned the car around with no real plan.
It took a few years working low-paying jobs but she finally decided to bet on herself.
In 2014, Emily started a business even though she was $120k in debt after moving to London.
What happened next though was improbable, to say the least.
Emily would go from making $442 in her first month of business to over $1 Million within the first 18 months.
Now Emily has her own book, runs a successful coaching business on several fronts (master classes, group programs, 1:1 consulting, VIP day trips, etc), and even hosts a podcast.
If you enjoyed Emily's episode as much as we did, please share! Links From the Episode
Emily's Website I Heart My Life Book I Heart My Life Podcast
YouTube Interview https://youtu.be/LrLTgt1DlJw Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Kat Norton aka Miss Excel.
Kat is taking the world by storm with her 800k+ Tik Tok followers, 600k+ Instagram followers, and LinkedIn learning viewers.
It doesn't just stop with the freebies though, Kat has earned over $100k in a single day (not a typo!)
She does this all by educating the world on Microsoft Excel.
But not just any form of education, Kat makes it fun and approachable.
And all of that is just what the audience sees.
Behind the scenes, Kat spends a lot of time and energy on her mindset.
Whether it's overcoming things from the past or truly understanding what makes her happy, Kat has done a ton of great work internally.
We're excited to bring you such a superstar who has so much to offer.
If you enjoyed Kat's episode as much as we did, please share! Links From the Episode
Kat's TikTok Kat's Instagram Kat's LinkedIn
YouTube Interview https://youtu.be/apyRntojANw Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Eric Barker, author of "Barking Up the Wrong Tree" and "Plays Well with Others"
In Eric's first book, he scientifically stress-tests the maxims we’ve all been told about success to uncover the surprising answers we need to live a meaningful life.
Now in the follow-up to this bestseller, he's doing it again but this time for relationships.
That's right, he is again scientifically challenging the advice we’ve been given are whole lives about relationships.
In doing so, Eric found a path that can lead us all to more fulfilling friendships, love, and community.
There's a reason Eric has sold over a half-million books and has a staggering email list -- he breaks down such important topics in ways you never considered.
Now sit back and take a listen for yourself.
As always, If you enjoyed Eric's episode as much as we did, please share! Links From the Episode
Barking Up the Wrong Tree Plays Well with Others Eric's Blog
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Brennan Schlagbaum from Budgetdog.
Brennan found himself married at 24 with a combined debt of $300k.
He had a great career as a CPA but felt smothered by the weight of their debt.
In just a few short years Brennan had paid off all that debt, paid off his house, and even had a kid along the way.
This all happened before the age of 30!
Now his passion is helping others tackle their financial stressors under the Budget Dog brand.
If you enjoyed Brennan's episode as much as we did, please share! Links From the Episode
Budgetdog Website Budgetdog Instagram Budgetdog Twitter
YouTube Interview https://youtu.be/peQEX0JwINw Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody interviews Justin on how he has navigated corporate moves both internally and externally.
We'll talk about how you can find those better opportunities from an inbound and outbound method. These can be within your current company or swapping companies altogether.
A big piece of this is filtering and comparing opportunities. In many jobs, the compensation isn't just one simple number. You need to think about base pay, variable, equity, 401k, health insurance, etc, etc.
No need to worry though, the guys break this all down in a very simple systematic way.
There will also be tactical tips such as how to set up your LinkedIn so that you're not missing great opportunities.
We hope this helps you land that new role or position to increase your happiness and your bank account! Links From the Episode
How to let recruiters know you're open for hire.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Eric Rosenburg from Personal Profitability (again!).
Eric is a prolific writer and speaker across all finance topics, but today our main focus is solely on cryptocurrency.
We already covered the intro to crypto with Eric back in episode 163, so now it's time to go deeper!
In this episode, we discuss mining, NFTs (art & utility), staking, Smart Contracts, DAOs, taxes & estate planning.
Many don't realize how many areas cryptocurrency could impact and/or disrupt.
We know listeners have tons of questions and Eric is bringing the answers.
Whether you're a crypto believer and want to hear an expert's take on the future or you're unsure and need to understand what it's all about, we think this is the episode for you. Links From the Episode
Eric.Money Personal Profitability Eric's Twitter
YouTube Interview https://youtu.be/lclbVuL9m3Q Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Brian Feroldi, author of Why Does the Stock Market Go Up?
In this episode, we get a chance to dig into the basics of stocks and investing.
Why do companies split their shares?
What are shares really?
What happens when a company buys back stock?
And the most important question: Why does the stock market go up?
Brian delivers all of this financial knowledge in a super consumable way.
We think this episode is great for both seasoned investors and those just starting out.
If you agree please share! Links From the Episode
Brian's Book: Why Does the Stock Market Go Up? Brian on Twitter Brian's Investment Checklist
YouTube Interview https://youtu.be/80CgX_vEbyU Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Logan Leckie, creator of Topia, The Financial Independence App.
Logan saw a void in the app marketplace when it came to an all-encompassing app that could guide you through your entire journey to FI.
The app also comes with a built-in community to encourage and guide you through the various stages of financial independence.
Logan isn't just stopping with an app, he's also putting together a low-cost index fund that users can invest in straight from the app.
You can budget, interact with the FI community, track your progress to financial independence and even invest all from this one app (and it's free).
Are you looking for a more seamless and motivational way to reach financial independence, or know someone who might benefit from this episode?
If you answered yes to any of these questions, please share! Links From the Episode
Topia Website Topia App - iOS Topia App - Android
YouTube Interview https://youtu.be/gOXlNnmillA Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Vincent Pugliese, author of The Wealth of Connection.
But really when I think of Vincent, I think of a master networker and amazing storyteller.
Vincent walks us through how he went from a guy with a camera standing outside of a stadium to taking some of the most iconic pictures of some of the biggest names in professional sports.
The whole time Vincent was building a photography business, he was really seeing the success of his true passion -- making connections.
Today, Vincent is helping others build their connections and facilitating masterminds.
When should you reach out, how should you reach out, how do you take advantage of chance encounters... and a whole lot more.
Are you wanting to answer some of those questions, build your own network, or know someone who might benefit from this episode?
If you answered yes to any of these questions, please share! Links From the Episode
Vincent's Website - Total Life Freedom
YouTube Interview https://youtu.be/amPfxR7oPYc Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Barbara Sloan, Author of Tipped.
Tipped focuses on personal finance for anyone in the "tipped" industry.
The tipped industry includes waitresses, bartenders, hairdressers, cosmetologists, dancers, etc.
Barbara spent a lengthy career in the tipped industry. After she became passionate about personal finance, she realized there was a huge information gap for tipped workers like herself.
How do you save for retirement? Deal with pay variability? Handle benefits? These are all questions that people getting paid primarily in tips have to figure out for themselves.
Now Barbara is tackling those questions head-on with her brand and latest book.
Ever wonder what unique challenges a tipped employee might face? Are you a tipped worker or know someone who might benefit from his episode?
If you answered yes to any of these questions, please share! Links From the Episode
Barbara's Site: Tipped Finance Tipped Finance Instagram
YouTube Interview https://youtu.be/9fcgscSfvSo Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Justin & Cody take a look back on what all has changed in their lives since the show started back in October 2018.
It's hard to believe that the show has been going for so long but there's no sign of slowing down.
In 2018:
Justin was still in the Air Force Cody was working a corporate finance gig Justin planned to work until age 43 Cody thought he'd keep climbing the ladder
Obviously, Justin and Cody are no fortune-tellers...
Fast-forward to today and Cody has built an insanely profitable online presence, Justin made the jump to corporate America and multiplied his income, and both have reached financial independence.
You'll hear an exact breakdown of what's changed for The FI Show guys since 2018 including income, expenses, net worth, and money mindset.
Hoping this serves as a piece of inspiration for those just getting started! Links From the Episode
Mega Backdoor Roth & Solo 401K Explained
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Marcus Garrett, Author of D.E.B.T. Free or Die Trying.
Marcus found himself under a mound of debt and living paycheck to paycheck for years.
After hitting rock bottom, he embraced budgeting and rebuilt his credit score on the way to financial freedom.
Now, Marcus is both building a personal brand and holding down a high-paying W-2 career.
Curious about rebuilding your credit score or managing a successful career while building your entrepreneurial exit strategy? Well, then this is the episode for you. Links From the Episode
D.E.B.T Free or Die Trying The Marcus Garrett Website Marcus' Twitter Marcus' LinkedIn
YouTube Interview https://youtu.be/m5lhSy1ppFs Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Eric Rosenburg from Personal Profitability.
Eric is a prolific writer and speaker across all finance topics, but today our main focus is solely on cryptocurrency.
What is the real potential of cryptocurrency? Is it just a risky investment with no utility? Which coins should you keep an eye out for? What are crypto wallets?
We know listeners have tons of questions and Eric is bringing the answers.
Whether you're a crypto believer and want to hear an expert's take on the future or you're unsure and need to understand what it's all about, we think this is the episode for you. Links From the Episode
Eric.Money Personal Profitability Eric's Twitter
YouTube Interview https://youtu.be/yM21u9ZQx5Y Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Chris Hutchins from the hit new podcast All The Hacks.
Chris has always been obsessed with making life as optimal and enjoyable as possible without excessively spending money to do so.
But how did he get here?
Well, he's had typical employment, been laid off, started a series of conferences for those that also found themselves unemployed during the Great Recession, founded a successful start-up that educated the masses on personal finance, and sold said start-up.
He's had quite the journey!
Along the way, he's built up a ton of expertise and passion all related to life hacks.
Now, he's pumping out fantastic episodes with some names you might not know yet, and names you're likely familiar with (Tim Ferriss, Manu Ginobli, Kerri Walsh Jennings, The Points Guy....you get where this is going).
Chris' podcast is certainly one to add to your weekly rotation and we're pumped to showcase his story. Links From the Episode
All The Hacks Podcast Chris' Twitter Chris' LinkedIn Chris' Instagram
YouTube Interview https://youtu.be/hR7cKfWPpm0 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, The FI Show Guys take on questions submitted by the audience.
Our audience is certainly an educated and savvy bunch, but we can all keep learning.
So we opened up the hotlines and took on listener questions.
Here are the topics we tackle in order:
HELOCs vs. high-interest debt Credit card points Reducing taxes Side hustles Should you avoid PMI? What is a VPN?
Got more questions? Send them our way! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Joe-Saul-Sehy and Emily Guy Birken, authors of the new book Stacked: Your Super-Serious Guide to Modern Money Management.
Joe is a former financial advisor the hilarious mastermind behind the iconic Stacking Benjamins podcast.
Emily wasn't classically trained in finance but had a passion for it and authored the very popular book The 5 Years Before You Retire (among others).
Now, these two have joined forces to fill a space that has never been filled. A different kind of personal finance book that covers your entire financial journey with the right mix of expert insights and humor.
Learn about everything from side hustles, to hiring a legit financial advisor, to planning for emergencies, to what’s new and exciting—and actually worth your time—in financial apps and software.
If you’re looking for the same old get-rich-quick clichés, avocado toast shaming, or alphabet soup of incomprehensible financial terms, you won’t find them here.
Instead, Saul-Sehy and Birken take you step by step along the way to financial success, with their signature blend of shrewd financial information and wacky humor. Links From the Episode
Stacked: Your Super-Serious Guide to Modern Money Management Episode 98: Learning How to Stack Benjamins
YouTube Interview https://youtu.be/VNmD-eC-Kms Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jabbar Adesada, a 20-year-old Marine who is targeting this year for financial independence!
Jabbar was obsessed with basketball and poured all of his attention there, the only problem was he wasn't even getting to play.
That, combined with his disobedience to do some work his preacher ask him to do made for a dramatic change brought on by Jabbar's father.
His dad popped his basketballs and told him he had to read Rich Dad, Poor Dad... and that was the end of basketball for Jabbar.
Jabbar goes on to join the Marines straight out of high school and starts to study the stock market and real estate like crazy.
His persistence would lead to a house hack where he'd rent out four rooms and then later a luxury Airbnb property... all while essentially making minimum wage.
He's currently hunting for more deals and projects that he'll reach FI after he closes on the next one.
Do you know a young person who needs some inspiration, are you interested in real estate investing, or maybe you just want to hear a great story this is the episode for you! Links From the Episode
Jabbar's Instagram Jabbar's TikTok Jabbar's Facebook
YouTube Interview https://youtu.be/ZMH_XXBYf3Y Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Ali and Josh from The FI Couple.
They found themselves in over $100k in debt and knew something had to change.
Once they started tackling debt and real estate, they knew they had to share that with the world.
So, from a middle-of-the-night idea, they built an Instagram in late 2020 and started putting in the work.
In just a short time they built up almost 90k followers (as of Jan 2022), but it wasn't just blind luck.
Ali and Josh are constantly experimenting and refining their processes in all of their entrepreneurial pursuits.
Please share this episode with anyone you think could use a great story about starting a business with a couple, climbing out of debt, or building an Instagram audience. Links From the Episode
The FI Couple Instagram The FI Couple Blog
YouTube Interview https://youtu.be/ThapmUkFMLs Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Dan Sheeks author of First to a Million and founder of Sheeks Freaks.
Dan is a teacher in Colorado and is really changing the lives of young people and giving them a space where they can feel normal sharing their financial interests.
He recently authored his first book (and workbook) First to a Million which was created in the hopes of spreading financial independence education to the young masses.
This book could easily change the life of a young person in your life. Imagine if you got started at 16 down this path?
We hope you're as excited to inspire the next generation is chasing FI/RE as we are.
Please share this episode with any teen friends or family (or their parents) who might be interested! Links From the Episode
First to a Million Book Dan's Website: Sheeks Freaks Sheeks Freaks Instagram Sheeks Freaks YouTube
YouTube Interview https://youtu.be/1TYcmHDDMwU Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Caleb Guilliams, creator of BetterWealth and author of The And Asset.
Caleb Guilliams' life would be forever changed by taking a simple job at a local bank.
There, he would see what wealthy people did, but also see what people were doing that struggled to make ends meet.
This would spark Caleb's interest in finance and the rest was history.
Caleb kept climbing the ladder and was actually promoted to lead the entire investment division before even graduating college.
In this episode, we not only get into Caleb's story but also a deep dive into an asset that most, like us, gave up a long time ago.
Whole life insurance, yep, that old thing.
There's too much to explain in a simple lead-in but if you have a high income and/or are looking for some additional flexibility to your current cash accounts, this episode is for you.
Tune in to learn about the AND asset and how you can maximize your dollars.
Share this episode with your friends, leave a review, and don't forget to check out more of what Caleb has to offer with the links below! Links From the Episode
BetterWealth (website) The And Asset (book) The BetterWealth Vault (resources) Caleb's LinkedIn
YouTube Interview https://youtu.be/2z89ob_OzeU Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jannese Torres-Rodriguez who walked away from a successful career to focus on entrepreneurship full time.
It wasn't an overnight success though, and it wasn't without some trial and error.
After niching down and putting in a ton of work, her food blog, Delish D'Lites, started to take off (we're talking multi- six figures).
Her story doesn't end there though.
Jannese then used the online business skills she learned from her food blog and started teaching the LatinX community about personal finance through her brand Yo Quiero Dinero.
Share this episode with your friends, leave a review, and don't forget to check out more of what Jannese has to offer with the links below! Links From the Episode
Yo Quiero Dinero Podcast Delish D'Lites Food Blog Yo Quiero Instagram
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Reetu Maz who invested in one of the oldest traditional physical businesses at just 21 years old.
Reetu saw an opportunity that meant taking on 60k of debt and decided to take the leap.
She would take over a struggling grocery store and breathe new life into it including renovations and adding in a small restaurant.
The craziest part?
Reetu was able to do this while studying at University and also while creating prolific personal finance content on TikTok and Instagram.
Share this episode with your friends, leave a review, and don't forget to check out more of what Reetu has to offer with the links below! Links From the Episode
Reetu's Instagram Reetu's TikTok Reetu's Youtube Channel Reetu's Website
YouTube Interview https://youtu.be/HAUCxF6MdSc Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, The FI Show Guys take an honest look at Dave Ramsey's 7 Baby Steps.
While we believe Dave Ramsey has been a great gateway for a lot of people, there's a ton we just can't agree with.
"Save 15%, never use credit cards, pay off all debt before investing"....these are just too prescriptive and not very optimal mathematically.
We know there's a lot of Ramsey believers out there, and we welcome your feedback to this episode.
If you're unfamiliar with the Baby Steps, here's a quick overview:
Baby Step 1: Save $1,000 for your starter emergency fund Baby Step 2: Pay off all debt (except the house) using the debt snowball Baby Step 3: Save 3-6 months of expenses in a fully-funded emergency fund Baby Step 4: Invest 15% of your household income in retirement Baby Step 5: Save for your children’s college fund Baby Step 6: Pay off your home early Baby Step 7: Build wealth and give
Know someone that blindly follows Dave's advice? Share this episode with them and show them there are more options out there! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Sarah King from Nerds Guide to FI.
Sarah gives us an in-depth honest review of her journey.
She started as a Dave Ramsey follower, but quickly realized there was more to personal finance than just getting out of debt.
Sarah would go on to build up a nice portfolio of rental properties before a divorce would bring her back to square zero.
Since then, Sarah has rebuilt her portfolio and is now spreading financial education to the masses.
Share this episode with your friends, leave a review, and don't forget to check out more of what Sarah has to offer with the links below! Links From the Episode
Nerds Guide to FI Blog Nerds Guide to FI Instagram Nerds Guide to FI Podcast
YouTube Interview https://youtu.be/VbkO0-4mFn4 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jeremy Schneider from Personal Finance Club.
Jeremy started his journey as a young, scrappy entrepreneur. In 2004, in founded Rentlinx out of his bedroom with nothing but grit and determination.
He slowly scaled the business while keeping his salary under $36k throughout most of the company's growth.
Then, in 2015, 11 years after its founding, Jeremy sold Rentlinx for over $5 million dollars!
After going through a bit of an existential crisis and playing video games for a year, Jeremy founded Personal Finance Club.
As a lifelong personal finance enthusiast, he's now turned his attention towards helping others learn how to invest and become wealthy in simple terms that rely on tried and true methods.
He's built a tremendous following in a short amount of time and you'll hear exactly how and why.
Share this episode with your friends, leave a review, and don't forget to check out more of what Jeremy has to offer with the links below! Links From the Episode
Jeremy's Investing Course ($20 off with discount code "FISHOW") Personal Finance Club Website Personal Finance Club Instagram
YouTube Interview https://youtu.be/undNhtrfdvc Episode Partner
The Personal Finance Club Investing Course gives a simple and comprehensive walk-through on how to build wealth by investing. If you're just getting started with investing, this course is perfect for you. If you've already got your investments in order, select the gift option and give the course to a family member or friend in need. More than 10,000 have enrolled and there are hundreds of positive reviews. Use discount code "FISHOW" for $20 off.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features John and David from Debt Free Guys and the Queer Money Podcast.
David and John were going on a vacation and thought to themselves, "Let's buy a vacation home here". Only to soon realize that they could barely afford to rent a home for a weekend getaway.
They had let their financial habits get out of control and ran up $51k in credit card debt. Then everything changed.
They would tackle that debt in less than three years utilizing their famed Debt Lasso Method.
Today, David and John are spreading financial wisdom with a focus on the LGBTQ community which faces unique struggles and challenges.
Share this episode with your friends, leave a review, and don't forget to check out more of what David and John have to offer with the links below! Links From the Episode
Debt Free Guys Website Queer Money Podcast
YouTube Interview https://youtu.be/RP6oiFgOSD8 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Kelly Anne Smith from Freedom in a Budget.
Kelly finds herself struggling and living paycheck to paycheck. Then, as many do, she turns to Dave Ramsey.
After learning about budgeting, Kelly found even more personal finance content through YouTube.
Fast forward a few years and Kelly has created a Youtube channel of her own that has produced over $100k in revenue and is teaching others about personal finance.
Share this episode with your friends, leave a review, and don't forget to check out more of what Kelly has to offer with the links below! Links From the Episode
Freedom In a Budget Kelly's Youtube Channel Kelly's Instagram Dreamer to Profitable (Kelly's Entrepreneurship Course)
YouTube Interview https://youtu.be/P2vu-WFKb5k Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Justin and Cody give their take on inflation.
If you've been on social media or watched the news recently, you might have seen the 6.2% inflation rate over the past year.
Everyone in this space loves formulas and hard math, but we'll tell you why patience and flexibility might be even more powerful tools.
Here are a few examples of the inflation we're seeing if you hadn't heard:
Bacon -> up 20% Used cars -> up 26% Gasoline -> up 49% Beef -> up 20%
Don't get too frightened though, we have the answers to keeping you on your FI path even when inflation hits. Links from the Episode
EconoMe Episode with Diania Merriam The Fi Show Facebook Group
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the amazing story of Todd Baldwin.
Todd grew up poor and dropped out of college, but he had one huge goal.
Simply to be rich.
He dropped out of college and took a high-commission sales job selling commercial insurance.
Before long, he was making multiple six figures while others were still in school racking up student loan debt.
Today, he's raking in over $1M annually with his real estate and entrepreneurial ventures yet still living in one side of a duplex he owns and secret shopping his way into free movies.
Check out the links below for more info on Todd and don't forget to share this episode with a friend! Links From the Episode
Todd's Instagram Todd's Youtube Channel CNBC Article
YouTube Interview https://youtu.be/HIOKZrugmYo Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the amazing world traveler, digital nomad, and real estate investor Sarah Weaver.
Sarah took a one-way trip to Europe in college and caught the travel bug for life.
Since then, she's worked most of her adult life as a digital nomad -- sometimes working insane hours overseas for the at-home 9 to 5.
Nevertheless, Sarah built a career coaching realtors and investors while also building a rental empire of her own.
Learn how Sarah leveraged location independence and the bank's money to design the life she wanted.
Take a listen and get inspired! Links From the Episode
Sarah's Instagram
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, Cody & Justin spill the beans on all the tips, tricks, and hacks they use to travel the world for a fraction of the cost.
Of course, you'll hear about credit card hacks, but it doesn't stop there.
Where to stay, how to decide, when to leave, how to pay... it's all covered in this episode.
Take a listen and let us know if you've discovered a travel hack that we missed or let us know the one you're most excited to try. Links From the Episode
Scotts Cheap Flights Dollar Flight Club Hopper Google Flights Award Hacker Eventbrite
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
This week, we're re-airing an episode from the Earn & Invest podcast where Cody & Justin were interviewed along with Rachel Richards.
Doc G delves into how passive income has evolved in this post-COVID era in addition to examining the many different paths to financial independence.
Tune in to hear our thoughts and experiences in the current economic environment and how it's affected our financial situations.
Enjoy! Links from the Episode
Earn & Invest Podcast Money Honey Rachel
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Kelan Kline, one half of The Savvy Couple.
Kelan and his wife Brittany have built a multi-six-figure online brand that now completely provides for their family, but it wasn't always this way...
Originally, Kellan had plans of building a career in law enforcement but after spending some time as a jail officer, he knew that wasn't his destiny.
Kelan and Brittany would grind away in the off hours to build their blog and one day Kelan landed a $50 sponsorship. That small seed gave him the confidence to go full-time into The Savvy Couple.
Fast forward to today and now they've built a team and are starting to expand to other sites. The sky is the limit with these two!
If you're interested in how an online presence could eliminate your need for a 9-5 job, this is the episode for you! Links From the Episode
Savvy Couple Website Savvy Couple YouTube Channel
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Lauren Tang, a member of the Sunnyside Village Couhousing Group.
Cohousing is when a group of people come together to intentionally create a physical neighborhood of people with common values and shared resources.
Lauren came from living in a trailer to attending medical school and eventually leading a successful medical career.
However, despite the fulfillment and high pay, she felt that something was missing. That's when Lauren discovered financial independence and later, cohousing.
If you're interested in building your own real-world community or just learning more about cohousing, this is the episode for you! Links From the Episode
Sunnyside Village Cohousing Cohousing.org In Love and Money Podcast
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, The FI Show Guys reflect on FinCon 2021 along with some big personal updates.
We've been going to FinCon for over 4 years now and we love it. It's the one time of year we get to hang out with all of our favorite personal finance people in real life!
It's also super motivating seeing other peoples' success and figuring out how to implement their strategies into our own lives and businesses.
For our personal updates, we talk about:
How Justin made $1,675 through just the transaction of his house How Cody is fired up to take his businesses to the next level following FinCon A wacky savings story about how Justin is furnishing his house And an interesting argument for purchasing a new car as a one year experiment
We hope you learn a lot from this episode and get a better insight into how our lives are going. Links From the Episode
FinCon 2021
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features "Money Honey" author Rachel Richards.
Rachel is passionate about passive income and making financial education more accessible.
She was able to walk away from her job at age 27 through real estate, online courses, and book royalties.
If you're interested in building a brand, writing a book, or just passionate about passive income, this is the episode for you! Links From the Episode
Money Honey Website Money Honey Book Passive Income, Aggressive Retirement Book
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Short Term Rental (think Air BnB) extraordinaire Diya Liu.
Diya's strategy is all about real-estate investing without compromise.
With her short-term rental (STR) business, she's built a system that she manage from anywhere and now has dozens of short-term rentals scattered throughout the U.S.
Diya also mentions that these STRs also bring in 4-10x the gross revenue per year than if she were to market them as long-term rentals. That's insane!
If you're thinking about a creative and fun way to enter real estate and travel the world at the same time, this episode is for you. Links From the Episode
Diya's Website Diya's Short-Term Rental Seminar (15% off with discount code 'FISHOW') Diya's Invest To Travel Course (15% off with discount code 'FISHOW') Diya's Facebook TurnoverBnB
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features real estate expert Paul David Thompson from the Ready Investor One podcast and PaulDavidThompson.com
Paul found his proficiency for building teams in the corporate world but knew that he was meant to run his own business.
What started as a single investor in Little Rock, Arkansas has now morphed into an enterprise.
He walks us through his systems which allow for him to offer over 1,000 offers on homes every week and how he works with others to help them recreate his success.
Sit back and listen to this great breakdown of creating a Real Estate Powerhouse! Links From the Episode
Paul David Thompson Website Ready Investor One Podcast
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Tori Dunlap from Her First 100k & Financial Feminist Podcast.
Tori was brought up in a family where money was a regular topic. She founded her first business at age 9.
Learning about personal finance from an early age gave her power confidence. Tori would later realize that her mission in life was to bring that same power and confidence to women across the world.
Since that realization, Tori's business has exploded. From being featured on Good Morning America to going viral on TikTok. She truly has created a global brand.
Sit back and listen to topics like the investment gap, financial feminism, fighting for raises, and much more! Links From the Episode
Her First 100k Financial Feminist Podcast Tori's TikTok Tori's Instagram Tori's Twitter
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this episode, the FI Show Guys give you a step-by-step guide to utilizing the Mega Backdoor Roth and Solo 401k.
You might be able to contribute A LOT more than you thought was possible. And that's true whether you work for a company (using a Mega Backdoor) or run your own business (using a Solo 401k).
In this episode, you'll learn:
The three contribution buckets (pre-tax, Roth, and after-tax) How to calculate your contribution limits Combining company contributions with self-employment contributions (for all you side hustlers) And where you can invest those 401k funds
We hope you learn a lot from this episode and implement these strategies into your own financial strategy. Links From the Episode
Justin's Mega Backdoor Roth Guide Guide to Active Self-Employment Income Solo 401K Real Estate Investment Guide
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Van Sturgeon who is an expert in real estate renovations with 30+ years of experience.
He learned his trade the hard.
Growing up, his parents purchased an apartment building but real estate was in deep trouble thanks to sky-high interest and unemployment rates.
This forced Van into learning how to do the repairs his family couldn't afford.
Fast forward to today and Van has seen and done it all. He breaks down all of his do's & don'ts to make the process less intimidating.
Wondering how to quote prices, manage a project, or locate good help? Take a listen and you'll soon find out! Links From the Episode
Van's Website -> Includes a free rehab calculator Van's Blog Van's Facebook Profile
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Brooke Packard, the teacher, realtor, real estate investor, cleaning business owner, physical product creator... what doesn't she do?
Brooke was always interested in making more money from a young age.
Her first entrepreneurial venture was her cleaning business, BP's Easy Living, which she's scaled from a one-woman operation to a team of 13 and growing.
But the ideas didn't stop there. Brooke is maximizing every hour of her day and continuing to build businesses for financial freedom.
Give the episode a listen and see how she plans to retire by 30! Links From the Episode
Brooke's Instagram Brooke's Cleaning Company Brooke's Realtor Page
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features author, speaker, and mentor Adam Carroll.
Adam shares with us his favorite finance technique that he calls "The Shred Method" which looks to utilize your HELOC (home equity line of credit) loan to its full potential.
He also covers some of the powerful mindsets that he believes in which he shares with colleges and corporations across the country.
It's clear why Adam has been picked up for TED talks. His passion and unique views are something everyone should take the time to hear.
Listen to this episode and reach out with your thoughts! Links From the Episode
Adam's Website The Shred Method Adam's Books Build a Bigger Life Podcast Mastery of Money YouTube Channel
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this roundup episode, the FI Show Guys talk about resiliency, creating your own unique path, and the power of networking.
Our last three guests -- Allegra Paris, Jennifer Magley, and Ryan Helms -- all taught us that success doesn't happen overnight. It's through repeated hard work, embracing and learning from failure, and bringing the right people into your inner circle.
Want to hear how Cody and Justin have witnessed similar experiences in their own lives? Then this episode is for you!
We hope you take this episode and think about how you can utilize some of these tactics and mental frameworks for yourself. Links From the Episode
Allegra Paris Episode Jennifer Magley Episode Ryan Helms Episode
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Ryan Helms from Legacy Podcasting.
Ryan actually liked his position earning 6-figures in the supply chain industry, but he knew that there was something more out there for him.
He initially started a podcast to learn from and talk with a collection of people.
That quickly led him into helping other content creators build their brands.
Today, Ryan's marketing agency is bringing in multiple six figures and he's helped dozens of entrepreneurs and small businesses grow their reach and impact.
Listen to this episode if you're looking to quit your job, grow a business, and create an intentional lifestyle! Links From the Episode
Legacy Podcasting YouTube - Podcast School Ryan's LinkedIn
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features former professional Tennis player and NCAA Div 1 head coach Jennifer Magley.
Jennifer started her life as a professional athlete but was forced to reinvent herself like so many athletes often do.
She had to learn to be likeable and shed her unwavering competitiveness. Since then, Jennifer has become a leader in connection and networking.
Jennifer has also written two books, attends countless speaking engagements, and does amazing charitable work -- all while crushing it as a mom.
Listen to today's episode for some amazing mindset and personal improvement tips! Links From the Episode
magleyjennifer.com Book - How to be a Queen: A Leadership Fable Book - Division 1 LinkedIn YouTube
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Allegra Paris from AllegraParis.com and the AP Fit program.
If you look today, Allegra has created a successful and rewarding personal training business. She's helping others while also building a brand that provides her a life she loves.
But things weren't always that simple. Allegra was facing massive burnout trying to make things work in New York City with her clothing brand and one-on-one training sessions.
Eventually, she was forced to pivot and adapt when the world turned upside down (looking at you, COVID).
Listen to today's episode for an inspiring story including tips on taking a business virtual, sourcing clients, and crushing social media. Links From the Episode
AllegraParis.com Allegra's Instagram Allegra's TikTok
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In this roundup episode, the FI Show Guys talk about how FI has given them flexibility and freedom.
Reflecting on the 4% rule, cashflow FI, and the levels of financial independence you hit along the way.
Want more confidence in negotiations? How about less stress when something goes wrong? Maybe even to feel free enough to take a chance with a career change?
These are all fantastic benefits that FI brings.
We hope you take this episode and either reflect on your journey or get inspired to start one. Links From the Episode
FI-Lexibility with Diania Merriam The 4% Rule with Bill Bengen Slow FI with Jessica
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jessica from The Fioneers.
Jessica wasn't always financially savvy and started her career making just $11k per year.
Then, her husband introduced the ideology of retiring early and Jessica started climbing the corporate ladder.
She quickly realized that racing towards financial independence at a rapid pace was taking too heavy of a toll on herself, so she changed course.
No longer would she be hyper-focused on a retirement date but instead embraced what she calls "Slow FI". Taking the benefits of incremental freedoms along the way and enjoying the journey without burning yourself out just to shave some time off your working years.
Jessica will challenge your beliefs of FI, so take a listen and see how your mindset may change. Links From the Episode
The Fioneers Website Slow FI Interview Series Fioneers on Twitter Slow FI Facebook Group
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Bill Bengen, creator of the 4% rule.
The 4% rule is arguably the most famous and influential research of the financial independence movement.
The rule essentially says that you can safely withdraw 4% of your invested nest egg without ever completely depleting that nest egg. That means for every $100k you have invested, that you can spend $4k per year indefinitely.
Bill has spent decades and countless hours tweaking these calculations and looking for any weakness in its logic.
In this episode, we'll hear Bill's latest updates and what he now thinks about the 4% rule all these years later.
Now take some time and see if Bill still believes the 4% rule is a safe path to early retirement. Links From the Episode
LinkedIn Bill's Original Research
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the founder of EconoMe, Diania Merriam.
Diania wasn't always into money. She had her time in New York where she went through a phase many of us struggle with -- blowing money and living it up in our 20s.
Diania decided to revamp her lifestyle but wanted to do so without giving up the experiences. She traded going out to eat for hosting dinner parties. Instead of going out shopping, she hosted clothes swaps.
Then, Diania took it a step further by relocating to Cincinnati -- a city where she still feels like she has the amenities of a big city for a fraction of the New York price tag.
After pursuing financial independence for a few years, Diania wanted to build a conference that inspired people and recharged their passion for personal finance. She knew she wanted something that was in person, had a high production value, and that gave a ton of value in a small amount of time.
That's where EconoMe was born! You can join the likes of Bitches Get Riches, Kiersten Saunders, Joe Saul-Sehy, and more great speakers at this year's event. Use promo code FISHOW for 10% off. The conference is Saturday, November 13th, 2021 in Cincinnati, and we hope to see you there!
Now take some time and learn how Diania is crushing her own journey while inspiring others! Links From the Episode
Tickets to EconoMe (Use promo code FISHOW for 10% off) EconoMe Conference Diania on LinkedIn
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features your hosts Justin and Cody discussing Real Estate.
They both had no idea how real estate was an investment because their parents lived in the same homes their entire life. It wasn't an investment, it was just home.
Fast forward and Cody starts finding profitable properties in Connecticut after he extends his sights past his home state of Massachusetts. Then Justin gets into the game through REITs and a syndication.
Real estate investing can be extremely powerful due to its leverage and protection against inflation (if done correctly). However, renting also has its merit and real estate isn't for everyone.
Are you interested in dipping your toes into real estate? Curious about what we think about the subject? Then sit back and take a listen as we break down our personal experiences in real estate. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Alex Felice from Broke is a Choice.
Yes, Alex chose that name to be a little controversial. He likes to stir things up a little and get the conversations going.
For him though, he found himself broke in 2010 and he did make that choice to turn things around.
He poured himself into personal finance education and completely reinvented his relationship with money. In 2014, he decided real estate would be his angle towards freedom.
18 months into his journey, he made more money than an idiot like him should have (haha his words, not ours).
These days his real estate deals just keep getting bigger and bigger including a recent deal that brought in over 50 units to a group of investors.
You won't want to miss Alex's views on beating broke, leveling up, and investing in real estate.
Now take some time and see if you can learn about some choices you should make! Links From the Episode
Find Alex on Facebook Find Alex on Instagram Broke is a Choice Book Recommendations Youtube Channel
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Scott Krone. Scott is the managing partner and founder of Coda Management Group.
During college, Scott and his fellow architect classmates found themselves providing free labor to their professor's development business. This odd form of free labor turned out to be a launching pad for Scott's career.
He took on major projects right away and realized that he was more valuable than they realized and branched off on his own.
Now Scott specializes in breathing new life into dilapidated commercial buildings and converting them into cash cow storage units.
Scott also shares some of his insights with another passion of his, green home design.
Crank up the volume and hear all about this unique corner of the real estate market.
Sit back, relax, and hear Scott's amazing story. Links From the Episode
Email Scott's Team: info@codamg.com Coda Management Group Scott's LinkedIn
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Scott Trench. Author of Set for Life and CEO of Bigger Pockets.
After college, Scott finds himself in a finance job he doesn't like and discovers financial independence which changes his entire philosophy.
Financial independence led Scott to real estate and the rest was history.
In this episode, we dig into Scott's mindset, his habits, his goal-setting routines, his thoughts on real estate, his investment strategies, and his overarching life mission.
Sit back, relax, and hear Scott's amazing story. Links From the Episode
Scott's Instagram Bigger Pockets Book - Set for Life Book - First Time Home Buyer
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Andrew Kerr from the House Hacking Podcast.
Andrew has been in the real estate field for almost 20 years and has experience with nearly every type of real estate transaction.
By the end of the episode, you'll hear all about the pros, cons, and everything in between in regards to house hacking.
Hint: It's one of the best ways to supercharge your path to financial independence.
Ready to get creative with your living situation and lighten up those expenses? Well, sit back, take a listen, and learn all about house hacking! Links From the Episode Podcast:
House Hacking Podcast
IG: https://www.instagram.com/thehousehackingpodcast/ https://www.instagram.com/fibyrei/
FB:
https://www.facebook.com/TheHouseHackingPodcast https://www.facebook.com/FIbyREI/
Twitter: https://twitter.com/fibyrei https://twitter.com/thehousehacking
YouTube: https://www.youtube.com/channel/UCYvwOEtC5VgEfgW3QNPS4Ow?sub_confirmation=1 https://www.youtube.com/thehousehackingpodcast
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features your hosts Justin and Cody discussing authenticity and work-life balance.
Both Cody and Justin are very open about their finances and love sharing both their failures and successes. Why? Because real stories give real inspiration. This is a crazy journey to suggest so having real data to back it up helps give confidence.
The more authentic voices out there, the higher the chances are that someone can find a story they relate with.
The episode is rounded out with a discussion on work-life balance. At the end of the day, there will always be more work, but you can't say the same about life. So set boundaries and stick to them.
Is authenticity important to you? Do you have a handle on work-life balance? Either way, take a listen, and get inspired. Links From the Episode
Privilege and Perseverance
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Eric Richard from Nomad on FIRE.
Eric worked his way into a lucrative corporate job in supply chain management, but with that came long hours and a terrible commute. He admits that frugality didn't come naturally to him but he saw how work was destroying his happiness and health so he took the plunge towards Financial Independence.
After saving over $500k, Eric had reached Lean FIRE and took off to travel the world.
He'd eventually end up back in the corporate world but this time in a great work culture that is 70% remote. He used his freedom to find the job that fit his life and is set up to be fully retired in no time.
Financial independence isn't only about quitting your job, it's also about the freedom to find the right job for you.
Now it is time to sit back, take a listen, and get inspired. Links From the Episode
Nomad on Fire Blog Nomad on Fire Podcast Nomad on Fire Instagram Nomad on Fire Twitter Eric's Remote Year Review
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features one of the original personal finance bloggers, J.Money!
Whether it was Budgets are Sexy, Rockstar Finance, or now All Star Money, J.Money has been inspiring readers and spreading the best finance content for over a decade.
You may recognize the mohawk, but for us, it's the transparency and giving spirit that stands out.
Listen to how someone who wasn't naturally good at money or came from a finance background would become one of the leading voices in the personal finance space.
Now it is time to sit back, take a listen, and get inspired. Links From the Episode
J.Money's Project Hub / Online Resume All Star Money PF Swagger Follow J.Money on Twitter Budgets Are Sexy Coin Thrill Love Drop
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Anthony ONeal from "The Table" podcast and author of Debt Free Degree.
Anthony has an incredible story of loss and triumph.
He hit bottom as he lost everything and ending up homeless at age 19 while trying to figure out how to get through college. Anthony turned his life around and would go on to not only graduate but dedicate much of his life to educating other young people in hopes that they could avoid his missteps.
Now, Anthony is a successful author and online personality who has helped thousands of people navigate college without taking on crippling debt.
Have time for an amazing story? Well, then it is time to sit back, take a listen, and get inspired. Links From the Episode
Anthony's Website Proximity Principle Book - Ken Coleman
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features your hosts Justin and Cody discussing the art of following your passion.
Justin still works a more typical corporate job while Cody took to entrepreneurship almost immediately. When you're faced with the decision of which way to go, what do you do?
In this episode, you'll hear the hosts talk about their personal views on the situation as well as tips to help make you successful regardless of which path you choose.
Don't sit and suffer a miserable job you hate, but don't YOLO and quit a job en route to financial ruin. Now it is time to sit back, take a listen, and get inspired. Links From the Episode
Kristy Shen's Quit Like a Millionaire Kristy and Bryce Interview Essentialism Book
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Brent from Farm Fired Pizza aka the "Food Truck CEO". Brent runs an amazing food trailer with a wood fire pizza oven creating some of the best-looking pizzas you'll ever see.
Brent didn't go to culinary school or come from a cooking background. In fact, he was a highly successful nurse who had worked his way up into more of the corporate side.
This was great for his paycheck but terrible for his fulfillment.
Ultimately, Brent decided to follow his passion for delicious pizza and quit that corporate job. Fast forward a little over a year and he's selling out events on a regular basis with a thriving business.
Struggling to find purpose in your day job? Well, then it is time to sit back, take a listen, and get inspired. Links From the Episode
Farm Fired Pizzas Facebook Farm Fired Pizzas Instagram Brent's Twitter, The Food Truck CEO Farm Fired Pizzas Website
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features John Jonas from OnlineJobs.ph which is an impressive online marketplace that matches online workers from the Philippines with business owners from around the world.
With over 1 million resumes on the platform, the website is ever-growing and constantly refining its matching capabilities.
Virtual assistants, developers, video editors...the options are endless for filling a need you might have.
As an employer, you get access to an amazing workforce at a low cost with no monthly fee and you don't even have to worry about 1099 taxes*.
Whether you need to fill out some vacant jobs or just learn about an awesome business venture it's time to sit back and take a listen.
*We're not tax professionals, hire an accountant for your specific situation Links From the Episode
Get John's book (FREE): Outsourcinglever.com Find your VA Guaranteed: OneVaAway.com And of course OnlineJobs.ph
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the hosts (Justin & Cody) who share their early lessons in personal finance.
How did two guys from completely different backgrounds both get so inspired to retire early? Who influenced them?
Stop by and listen to some quirky stories of how they came to be passionate about personal finance and some tips for how you can inspire others around you.
Share this episode with those friends who just need a little boost, but for now, sit back and take a listen. Links From the Episode Justin's Blog: Saving Sherpa
Cody's Blog: Fly to FI Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jake Cousineau soon to be Author of How to Adult: Personal Finance for the Real World.
You might even recognize Jake from his $50k Wheel of Fortune payday!
Jake is now hoping to increase the odds of winning at life for young adults across the country. We talk to Jake about why he decided to build this financial guide to life and the lessons he has learned actively teaching the next generation of the FI/RE community.
Share this episode with that rising senior or new college student in your life, but for now, sit back and take a listen. Links From the Episode Jake's Email: jake@htapersonalfinance.com
Website: HTA Personal Finance
Twitter: https://twitter.com/htafinance Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Dan Sheeks from Sheeks Freaks who has created a place for teens that are "obsessed" with making smart financial decisions.
Dan is a teacher in Colorado and is really changing the lives of young people and giving them a place where they can feel normal sharing their financial interests.
It's obvious through all the success stories he highlights that this is working and was a needed niche.
We hope you're as excited to hear how the next generation is chasing FI/RE as we are. So sit back and take a listen. Links From the Episode
Dan's Website: Sheeks Freaks Sheeks Freaks Instagram Sheeks Freaks YouTube
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode is another one led by your awesome Co-hosts (Justin & Cody).
The topic today is all about the mental part of our journeys to financial independence. Good and Bad.
Depression, joy, grit, relaxing, purpose, people...this episode has it all.
So take a moment and hear from the FI Show guys as they open up the curtain on mental hurdles they've faced and the strategies they've used to overcome them. Highlights From the Episode
Realizing it's not about the money Finding your tribe Working too hard Comparison: the thief of joy Finding purpose Giving back ....And much more
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features David Wood from Focus.ceo who has become one of the biggest life coaches and has helped 150k+ people.
David spent over 20 years building a career as a consulting actuary for Fortune 100 companies.
David helps high-performing entrepreneurs, executives and teams to identify and master their tough conversations, becoming the leaders they themselves would follow.
There are so many awesome techniques that David shares. So sit back and try them out yourself while you listen. Links From the Episode
Click here to get the following gifts from David:
Cheat sheet for doubling revenue Video on achieving more in less time 15 minute live audit on doubling revenue And a 35 minute workshop
David's Website: Focus.Ceo
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Marlys Woods who created her own business, Get in Tune Music Therapy, where she uses music as a tool to help her clients reach new heights.
Never heard of musical therapy? Neither had we but it's very interesting.
She pairs what she loves about music with psychology. The most common use case for this is for developmental issues or speech rehab.
But it's also possible to use music as a tool for everyday productivity and releasing stressors.
Marlys focuses on addiction which was her focus after her undergrad degree. She turned this into a full-fledged business where she employs other contractors to all help patients through their recovery utilizing music.
Take a listen and learn about yet another amazing example of designing a life that brings you happiness and purpose. Links From the Episode
Contact Marlys:
Website: Getintunemusictherapy.com Instagram: @GetInTuneMusic Money Emotions & Music: Program coming soon for managing emotions on your financial independence journey!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode rounds out our series on utilizing your location as a tool to financial independence and is led by just thew of us hosts.
You may hear this idea called geo-arbitrage. We wanted to pick two locations where we would actually like to take a test run of financial independence in a foreign country.
Cody picked Santiago, Chile and Justin picked Porto, Portugal.
This episode covers an honest and holistic look at what it would cost for a couple to live in these countries while still really exploring and enjoying them.
Take a listen and consider where you'd move if you had the freedom. Santiago, Chile Housing
-
$500 for a one BR apartment
-
Comes with parking, laundry, gym, BBQ and pool
Utilities (Electricity, Heat, Cooling, Water, Garbage)
$135 per month
Cost of Flights to Other Locations
-
Flights around South America starting as low as $35.
-
$385 to get back to Cody's home in New England
Restaurant Samplings
- Simple meal at inexpensive restaurant costs $5
Grocery Samplings
- $30-35 per week. With mostly fish, vegetables, beans, eggs, “healthy” pasta, fruits, and smoothies
Phone/Internet
- $45 per month
Public Transportation
-
Taxis will take you anywhere for less than $10
-
Average of $150 per month (per expat survey)
Healthcare
-
Ranked 33 out of 190 countries (similar to Australia and Denmark and many of the doctors speak english)
-
$100-120 for healthy adult expat insurance
Visa Requirements (how long can I stay?)
- 90 days (plus can pay $100 for another 90 day extension)
Weather
-
Coldest months are June and July with average highs of 61 degrees Fahrenheit
-
Only downside is that it rains 4-5 days per week Total cost = $1650/month 500 housing
135 utilities
120 groceries
250 restaurants
45 phone/internet
100 transport
120 healthcare
400 entertainment $19,800 per year Porto, Portugal Housing
-
$833 for a one BR apartment in heart of the city
-
Comes with parking, laundry, wifi, all utilities
Utilities (Electricity, Heat, Cooling, Water, Garbage)
Included
Cost of Flights to Other Locations
- Flights around Europe starting as low as $25.
Paris: $25 Barcelona $49 Milan $53
- $670 to get back to Justin's home in Austin
Restaurant Samplings
-
Simple meal at inexpensive restaurant costs $6
-
Anthony Bordain visited restaurant also serves $1.80 martinis
Grocery Samplings
- $40 per week.
$2.60/lb chicken, $1.30/lb pork, $0.75 fresh bread, $0.90 apples, $2.50 bottle of wine as examples
Phone/Internet
- Wifi is free, 22gb data and unlimited call cell phone for $18
Public Transportation
-Amazing train system for very cheap which I factor into "Travel"
Healthcare
-
Emergency room visits are free
-
Research shows ~$40 per month for plans
Visa Requirements (how long can I stay?)
-
90 days with just the passport
-
Full citizenship appears attainable if you can prove you have healthcare as well as stable income source to fund your retirement
Weather
-
Lowest highs are 57 degrees December/January
-
Highest highs are 77 degrees in July/August Total cost = $1770/month (for a couple) 833 housing
140 groceries
300 restaurants
18 phone/internet
80 healthcare
400 entertainment (includes transportation) $21,240 per year Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jim White from Route to Retire.
We're continuing our series on geoarbitrage which is the act of purposefully moving to a location for monetary benefits such as lower cost of living or tax treatment.
Jim and his family utilized a traditional corporate job to amass a nest egg large enough to retire in his early 40s. They were conservative enough to save for a life in the U.S. but wanted to find a lower price point abroad.
Jim poured over the research and took a successful test run to Panama. The rest is history and Jim and his family now live there full time. They live a vacation life on an ordinary budget.
Take a listen and consider where you'd move if you had the freedom. Links From the Episode
Follow along with Jim's Net-worth Roth IRA conversion calculator Cost of living in Panama Investment drawdown plan
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Mr. Nomad Numbers from Nomad Numbers.
This begins our series on Geo-arbitrage which is the act of purposefully moving to a location for monetary benefits such as lower cost of living or tax treatment.
Mr. &. Mrs. Nomad numbers were living in California and realized they could jump ship and retire. They chose to move to Taiwan where they could obtain a 3yr gold-card which would allow them to live there full time.
Mr. NN also gives us the breakdown of how Taiwan has battled Covid-19 so effectively and what it was like going through that process.
We're excited to bring you some guests who took their freedom to the next level and moved abroad. Take a listen and consider where you'd move if you had the freedom. Links From the Episode
Taiwan Gold Card
https://taiwangoldcard.com/goldcard-holders-faq/at-work/#can-i-just-not-work-at-all https://www.nomadnumbers.com/taiwan-employment-gold-card-application-guide/
Other Helpful Links
https://www.nomadnumbers.com/cost-of-living-stuck-in-taiwan-during-the-pandemic/
https://www.nomadnumbers.com/slow-travel/
https://www.nomadnumbers.com/design-your-ideal-life/
https://www.nomadnumbers.com/top-tips-save-money-airbnb-guide/ Nomad Numbers Cost of Living Around The World Map
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features your two podcast hosts, Justin & Cody.
The cover guest questions on topics like medical bill negotiations, pricing, plan types, coverage when traveling, and more.
They also let listeners in on exactly how they get their coverage now, and for Justin, how he plans to manage this once he no longer has that W-2 job.
This topic is crucial for everyone listening so don't miss this one. Links From the Episode
https://uncoveredhc.com/blog/the-top-healthcare-transparency-sites-2019/ https://www.icd10data.com/ICD10CM/Codes ehealthinsurance.com healthcare.gov https://uncoveredhc.com/blog/how-to-choose-the-best-health-insurance-for-2020/ https://uncoveredhc.com/blog/paying-for-health-insurance/
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the healthcare expert Scott Heiser who authored Healthcare is Making Me Sick.
Scott is leading the charge on making healthcare understandable for all.
He covers how new transparency data tools are empowering us as healthcare consumers and how best to handle your medical bills.
This topic is crucial for everyone listening so don't miss this one. Summary
Scott shares transparency data tools and how they're changing healthcare shopping Medical tourism is possible even within the United States You haggle for a used car, why not the payment on a knee replacement? Are non-profit hospitals raking in cash? And much more
Reach out to Scott
Book: Healthcare is Making Me Sick Website: UncoveredHC.com
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the healthcare option experts Lynn Frair and Jackie Cummings Koski.
Lynn is crowdsourcing all the best health care options for the FI community and Jackie is a certified Health Savings Account (HSA) expert!
Open enrollment is just around the corner and we're bringing you the knowledge you need to decide.
This topic is crucial for everyone listening so don't miss this one. Links and Resources
Comparing High Deductible Plans with a Health Savings Account to Traditional plans
Lynn & Jackie recommend this tool -> WexInc HSA vs Traditional Calculator
Really understanding what all you can do with HSAs
Mad Fientist article helps with HSAs too
How Lynn is crowdsourcing healthcare options especially for FIRE / Entrepreneurs
Take a look at FI Healthcare
Reach out to Lynn & Jackie
Lynn Frair
Website: FI Healthcare Instagram: FI Healtchare LinkedIn: Lynn Frair
Jackie Cummings Koski
HSA Email: hsaquestion@gmail.com Website: Money Letter 2 LinkedIn: Jackie Koski
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features your very own hosts Justin from Saving-Sherpa and Cody from Fly to FI.
We just wanted to celebrate our 100th episode!
Both of us give you a rundown on all the big life events that have taken place this year.
Cody bought three investment properties and Justin hit FI at age 30!
There's so much more so you won't want to miss this one. Episode Summary What You Can Expect To Hear
Justin hits FI Cody buys 3 properties Cody goes Vegan Justin sells his van Justin moves to Texas Cody learns lessons from entrepreneurship We also celebrate accomplishments from those special people in our lives Experimenting with The FI Show going forward
We want to hear from you!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Jerry Brown from Peerless Money Mentor.
Jerry grew up in a self-described ghetto with no real view of a way out.
We cover his background, how he turned things around, and how he's built a powerful financial independence network.
You won't want to miss this inspiring story!
Listen, learn, and let us know what you think about this awesome episode. Episode Summary Jerry's Background
Jerry didn't really know he was poor growing up But he lived in a crime-filled neighborhood with few outside role models His mom also needed assistance to get by He talks about how people were surprised he'd even admit that he was from the area he lived in Growing up he thought basketball or rapping would be the only possible way to escape His mom did put a big emphasis on learning but financial independence never seemed reasonable
Can you Bootstrap Past Disadvantages?
Jerry sees it as a mixed bag He does put a lot of weight into hard work But he also acknowledges the real disadvantages He was also cognizant enough to understand his family was a big advantage
Jerry's Financial Mistakes
Jerry was young and healthy so he thought he didn't need insurance A large dental procedure led him to serious credit card debt Then he started buying more things on credit Eventually, Jerry would buy a $22k car while only earning $22k per year
Financial Wake Up Call
He came home and his fiance had her bags packed Jerry realized he couldn't afford to live by himself So he thought he'd just live out of his car to avoid the embarrassment of moving home Jerry was also carrying debt with 25% interest rates He was making payments but was never actually making progress A friend recommended he refinance through a personal loan This lowered his debt all the way down to 5% For his remaining credit card bills, he did a balance transfer That gave him 0% rate for 18 months
Jerry's Side Hustle Journey
He tried Swagbucks but the payout was terrible Then he tried Uber but it was taking a toll on his car Jerry also tried We Go Look where you send in pictures of damaged vehicles for insurance claims. Now he is getting more into freelance writing and social media management Jerry also highly recommends Beta Testing.
Networking
This was a really powerful part of Jerry's story Networking expanded his world view It also tangibly impacted him From ideas on debt payment or side hustles like freelance writing Jerry really highlights the importance to surround yourself with people you can draw knowledge and encouragement from
Key Takeaways
Artificial Limits: One thing that really stuck out was the disadvantage that people experience simply by having low expectations set for them and surrounding them. Mental Health: We loved that Jerry was open about his mental health journey and his encouragement to others to also take it seriously.
Call to Action
Expand your network! One easy way is to just join our Facebook group page. Other options are LinkedIn, MeetUp, or other Facebook group pages.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners
We’ve all heard of LinkedIn, but have any of you managers or small business owners used the platform to hire new talent? LinkedIn Jobs uses its state-of-the-art technology to put your listing in front of qualified candidates. When you’re ready to make that next hire, visit LinkedIn.com/FiShow to get $50 off your first job listing. Jerry's Information
Today's episode features Joe Saul-Sehy from Stacking Benjamins.
Before creating a massively popular podcast, Joe made a lot of money mistakes.
This all came to a clash when he was working as a financial advisor, owned his own business, and still could barely get the money to get home.
Now Joe is bringing finances into so many homes via a unique comedic angle.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Joe's Background
Joe was in high school and remembers seeing news specials on money-saving tips He also got inspired by the movie Wall Street But it took Joe a long time to actually put it into practice His parents pushed him to work hard but money was taboo
Making Money Missteps
On his first day at college, Joe spots a long line at an American Express Credit Card table He talks about blowing money at the mall and fancy meals at Ruby Tuesday for his friends Then things get real when he gets a bill and his parents refuse to help him His credit was destroyed and the interest started building Even in his professional life, he thought he had an earning issue, not a spending issue But we know from famous athletes that a spending problem will always overcome earnings Joe started earning more money with his own business but kept racking up debt Keep in mind, his business was as a financial advisor The breaking moment is when he has no money or credit to buy gas to get home Joe had to dig for change in his seats just to get home
Turning Things Around
Joe realized he needed to "hide money" from himself This meant automating money to go into separate accounts that he didn't see He also realized that he couldn't go cold turkey Joe gave himself an allowance so he could buy some of those entertainment items He said it's important to not be too restrictive or else you'll relapse
Entrepreneurial Journey
Joe says he's a bad employee He would always clash with a boss Joe admits he also wasn't a great boss at first He might hire people too much like him Or spout off ideas through the day not thinking his employees would take that as direction
Starting Stacking Benjamins
Joe sold his business at age 40 This was inspired by a colleague who walked away because it wasn't fulfilling That person, Chris, stepped away to go climb mountains across the world Chris would then go on to start an adventure travel company Inspired by this, Joe decides to go back to school to become a teacher/coach He realized quickly that it wasn't for him So Joe starts dabbling in a blog and creates the Stacking Benjamins podcast He wanted to take the unique angle of comedy They took it really seriously and even would attend comedy classes
Pulling From Others
Joe recommends the book by Austin Kleon - Think like an artist He really recommends people look at others in their industry and pull all the best parts It was actually a car podcast that was hilarious to him that inspired the Stacking Benjamin theme Joe says he actually wants a finance show where no one learns a thing about money
In reality, people learn a lot but it doesn't feel like a class
He would go on to pull from a board game podcast, car podcast, and even a little kids podcast
Key Takeaways
Imposter Syndrome: Joe was a financial advisor but still struggled to follow his own advice. We all need help on this journey. Let Others Inspire You: Don't feel guilty about taking takes from others as long as it isn't inspiration.
Call to Action
Change, assess, repeat. Start to source ideas from others and try them out. Don't just be stagnant!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group
Today's episode features Erica Ballard from Erica Ballard Health.
At first, Erica struggled with her self image and finding out what "healthy" really meant.
Through experimentation and education, she unlocked how to really help others achieve their peak health.
Now she's helping others and educating the world on what real health is.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Erica's Background
Erica thought looking good was the key to her happiness She also thought she was doing fitness and health the right way Erica was actually working at a non-profit promoting healthcare and wellness Unfortunately, this non-profit wasn't promoting the best practices Eventually, she came to the realization that wellness isn't one size fits all It took her a while to find what worked for her
Creating an Experiment Mindset
The program that Erica went through pushed you to challenge your wellness beliefs It would convince you to be vegan and then highlight the benefits of meats Eventually, you start to see what makes real sense to you and not just following a narrative Then we discuss problems with the food pyramid and breakfast being the most important meal of the day To find what works for you she promotes experimenting Introduce one new piece to your wellness journey at a time and keep what works for you
Crowding In vs Eliminating
Erica promotes that you bring in the things that you want instead of focusing on the cut Add in more grains and more water, the things you're cutting out will eliminate itself Challenge yourself on the things you are hanging onto that are keeping you from wellness goals How are those bad habits serving you? Then Erica drops all kind of knowledge on us around sugar
Healthy People Perform
We discuss how health and wellness goes beyond life expectancy It also impacts your job performance and thus your profit margins Entrepreneurs love to boast about performing on four hours of sleep That's impressive But imagine how well they'd perform on eight hours of sleep! Turn your good (which might be great for everyone else) into your great
The All-Important Sleep
Don't eat close to sleeping (2-3 hours between food and sleep) Get off the phone before bedtime Don't drink caffeine after 2 pm Sleep is the first thing Erica recommends you to work on for wellness We need 7-8 hours per night! Performing on four hours of sleep isn't interesting or impressive
Key Takeaways
One size fits one: Erica highlights over and over just how personal that fitness and wellness are, experiment! Good Intentions: Even though Erica was working at a non-profit promoting health, she was still unknowingly a part of the problem
Call to Action
Experiment with your own health and wellness journey. Pick one thing this week to add. Whether it's exercise, water, or greens, just add one thing. If you see an improvement, keep it, and add another.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Looking for a low-cost cell phone service provider with great coverage? Look no further. Mint Mobile provides the same premium coverage you’re used to, but at a fraction of the cost because everything is online. All their plans come with unlimited talk and text and you can choose the data plan that’s right for you and get the plan shipped to your door for free! Go to MintMobile.com/FiShow to get started now for just $15 per month. Erica's Information
Today's episode features Terrie Chantel from TerrieChantel.com.
Terrie is a successful speaker and business coach.
She teaches teach business owners how to monetize their skills, uplevel their personal brand, create profitable offers, and convert followers into buyers.
Being an entrepreneur wasn't always comfortable for Terrie.
Check out how that changed for her and how she's helping others do the same.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Terrie's Background
Terrie graduated high school at age 16 and college at age 20 Both of her parents were “workaholics" This made Terrie believe that "amount of work = financial benefit" At 17, her uncle wanted her to co-sign on a car to build her credit That gesture changed her life At age 22 she went on to buy a house and really understood money
Passing Down Money Lessons
Terrie has three boys, ages 10, 15, 17 Her #1 tool she uses is to “paint a millionaire vision in their mind” This is the act of making wealth achievable in their mind She also gets them to use her debit card to pay bills online Just getting them involved in finances and eliminating the taboo Now her 17-year-old is already an entrepreneur
Bondage vs Freedom
Her uncle was like her dad and went towards the plan he set out She graduates college and goes directly into corporate Terrie stayed there for 10 years 5 years into that career, she started moving into management The pressure was increasing, work was coming home, and the money didn’t seem worth it That’s not what she envisioned It felt more like bondage than freedom
Seeing a New Way
She didn’t have other peers she could turn to who felt this way Terrie was always the girl, the youngest, and often the only black person Being surrounded by all these 6-figure earners, Terrie saw how high earners spent money But everyone worked themselves to death and just watched their vacation pile up Simply put, Terrie had no idea there was another option So Terrie started her own side-hustle Through this, she begins to meet other entrepreneurs Then she did realize there was another way
Can't Let Go of Stability
Terrie gets laid off around the holidays and gets pregnant with her second child So she really starts taking her side hustle serious In her first month, she had 100 clients through a lot of hustle She would even set quotas for handing out business cards But even with all that success, she still went back to corporate work It just felt too secure Terrie did keep the business going by hiring and training someone She admits not everyone is driven to be an entrepreneur But if you have that passion, you have to follow it
Tips for Starting that New Business
She says some people jump to marketing too fast To help others you need to be financially stable yourself She focused mainly on customer service and building a solid product Once those frameworks are set, then you can focus on other things like marketing If you can’t consistently hit the number you need for bills, that’s a bad sign This means it’s time to take a pause and look at your processes She likes to look at it in three-month chunks Terrie says you should be seeing a consistent profitability to know your frameworks are set
Valuing Yourself
Then we talk about valuing yourself This includes charging a premium for your services Stop focusing on yourself and think about the client Think about how you’re going to change their life Then you’ll see just how much you're really worth
Key Takeaways
Security is addicting: Terrie had trouble walking away from her normal W-2 job. It's a valid feeling! Don't Jump To Marketing: Solidify your product offering and take care of your clients, let marketing come later.
Call to Action
Get creative with that work ethic.
Today's episode features Bob Lai from Tawcan.
Bob and his wife are both dual citizens living in Vancouver, Canada.
He has a big passion for geo-arbitrage, slow travel, and dividend investing.
Hear how he's reaching FI while traveling and having three weddings! (spoiler alert, only one bride)
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Bob's Background
Bob’s family grew up in Taiwan with a farming background Money was never taboo and stuck with him Frugality was a big point of emphasis His dad retired in his early 40s Bob had a cousin who retired at 42 And then another cousin who hit FI and kept working Bob talks about the influence that had on him
Geo-arbitrage
Geoarbitrage is the act of moving somewhere to lower your cost of living Think San Francisco resident moving to Montana This can be within your own country or abroad It’s important to consider your earnings also dropping This typically works best if you’re not working or working remotely Some jobs like doctors actually get paid more in small cities With the pandemic, this is possible for many more workers who’ve gone remote Exchange rates can also be your friend Living 181+ days in another country can also help you avoid U.S. income taxes Citizenship is obviously a big hurdle in certain countries Some countries give residency based on wealth or homeownership Geo-arbitrage can save you 50% or more
Slow Travel
Often we look at travel as short spurts (1 – 2 weeks at a time) This leads to trying to pack in as much as possible You end up so tired, you need a vacation when you get back Slow travel is the idea of spreading that over 3-6months This allows you to spread out costs of flights It also lets you book apartments vs hotel rooms Bob goes over how much more enjoyable it is and affordable He also talks about the benefits of having a home base when traveling
Three weddings under $7000
Bob got married three times…. Remember that his wife was from Denmark This meant they both had families abroad His first wedding was mostly his family Bob’s wife made the cake and her dress! Of course, they used a coupon after the wedding to eat A month later they had a wedding with friends and her family They hired a friend who would go on to go to culinary school And their photographer was just starting out His wife actually altered her own wedding dress for the second wedding A year later they decided to do a wedding actually in Denmark This time it was at a small-town school and his picture did photographs Bob even took some of the photos
Rounding out the Episode
Bob talks about how he could retire now if he wanted He's happy with his job currently Their home is also very valuable in the crazy Vancouver market But life is good and his kids have a friend group
Key Takeaways
Slow down: Bob breaks down the power of slow travel which this show is a big fan of You have options: Don't think that just because you live or were born in a certain area that you have to stay there.
Call to Action
Look at your next planned vacation or one you've done in the past, compare those numbers with the slow travel version of it. How much per day does a six day vacation compare to a six month?
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN,
Today's episode features Grumpus Maximus, author of The Golden Albatross and creator of the Grumpus Maximus website.
Grumpus was three years away from a pension when he had a breakdown.
This pushed him to gather all the information he could on his pension to choose on staying or going.
Ultimately, he stayed and from then on became focused on teaching others how to understand and utilize their own pension plans.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Grumpus' Beginnings
In the spring of 2016, he suffered a mental breakdown This was while serving in the military He was only 3 yrs from a pension This made him do a lot of investigating into his pension He gives people advice on how to balance mental health and personal finance decisions We also talk about how to decide when to stop chasing the pension This is important because there's often such a long time to earn the pension
Varieties of Pensions
Grumpus highlights the vast differences in pensions These differences make them more or less valuable Differences include healthcare and inflation adjustment One thing to look out for is how well funded the pension is If it is only 50% funded, then it could be a riskier and less attractive pension
What is a Pension?
Generally, it's some percentage of money based on your salary that you receive forever You might have to work X number of years and at that point, you're fully vested Some allow you to ramp up your pensions vs all or nothing Think partial vs cliff vesting The main reason for a pension is for retention If you're ready to leave, they may offer you a lump sum It's important to consider tax implications and how much value you're giving up Grumpus also highlights that all plans must offer survivor benefits This is where your spouse or dependent would get a part of your pension after your death
Rely Only on Your Pension?
Simply put, you shouldn't only rely on your pension The closer you get to vesting, the more you can assume you'll have it You also need to study how likely your pension is to actually exist This is on top of understanding how likely you'll be able to handle a single job for 20-30 years
Grumpus Moves Abroad
He moved to New Zealand and enjoying the conversion rate We then discuss how the pension is taxed based on state/country you live in Grumpus is a big fan of the range of activities available in New Zealand Cody couldn't agree more!
Key Takeaways
Know Your Pension: The pension system isn't as simple as we thought, so study your specifics The future is uncertain: At times we don't take action because we're pessimistic but then, unfortunately, we make future assumptions based on overly optimistic projections
Call to Action
Study your pension! Even if you don't have a pension, chances are that you or your spouse has some type of benefits. Really dig in to make sure you fully understand and maximize those benefits.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Looking for a low-cost cell phone service provider with great coverage? Look no further. Mint Mobile provides the same premium coverage you’re used to, but at a fraction of the cost because everything is online. All their plans come with unlimited talk and text and you can choose the data plan that’s right for you and get the plan shipped to your door for free! Go to MintMobile.com/FiShow to get started now for just $15 per month. Grumpus' Information
Today's episode features Dr. Steve Yacovelli, author of Pride Leadership and creator of TopDog Learning Group.
Steve brings an incredible amount of expertise on leadership as well as diversity and inclusion.
He also brings an interesting backstory where he went from working on a Disney Cruise line to being hired by Disney as a consultant on those very cruises.
Steve will teach us all how to listen, build trust, empathize, and ultimately to lead.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary Steve's Leadership Foundation
He got his first taste of leadership in his fraternity in College Steve calls out how people just simplify leadership at times to just having people skills He has distilled his leadership principles into six areas
Being authentic Having leadership courage Having empathy Building relationships with those around you Effective communication Shaping the culture around you
Listen to Understand not just to Respond
He talks about how you should listen to understand and not just to respond This is avoiding that feeling you get when you feel like you can't wait for someone to stop talking so you can make your point In reality, you can't be empathetic to someone if you can't get to really know and understand them
Inclusion is Good for Business
When hiring and building a team, it's important not to hire people just like yourself Not only does it increase your chances of missing a great hire, but it also opens you up for more risk This risk is because you'll hire people with your strengths but also your weaknesses By hiring a more inclusive group we not only support people without bias, but we also cover our blind spots Steve says it's better to strive for conscious inclusion instead of just working on your unconscious bias Later in the episode, Steve goes into more metrics of why inclusion impacts the bottom line and not just social initiatives
Leadership in LGBTQ+
Steve makes it clear that he's not trying to say being straight or not means you won't be a better or worse leader Instead, he helps the LGBTQ+ community see how they can use something like their sexual orientation as a strength One example he gives is authenticity If he hid the fact that he had a husband, that wouldn't be very authentic, and he helps this community spot these opportunities
There's More Diversity to Diversity than you think
Sometimes we only think of diversity as race, sex, and sexual orientation but there's a lot more Steve prefers a specific model that is illustrated by layers and rings In the center is our personality Your personality is completely unique Next out are those items we traditionally think of (sex, race, sexual orientation, etc) Those are dimensions that typically don't change frequently Then you have the external dimensions which can change frequently In this section, you have pay, parenthood, income, habits, physical appearance, etc Next, you have the organizational dimensions (hourly, manager, legacy groups, etc) Finally, you'd have the country in which you're operating This is important just because there are many different cultural norms to consider
Key Takeaways
Listen: It's always a good idea to really listen. Maybe you don't know the person, fully understand the problem, or even know what you're supposed to be doing. Listening can fill all of those holes. We're all leaders: Steve made a point to call out that we can all practice leadership even if we don't have people reporting to us.
Call to Action
When in conversation this week, make a conscious choice to really listen to others. Listen with the goal to understand and not to look for holes to poke in their argument or to show how smart you are with a great question. Instead, really listen to learn from them and understand their points.
Join the Community
Today's episode features James Lowery from Rethink The Rat Race
James is a repeat offender back from episode 36.
In that episode, he dug into his background and how he and his wife retired in their 20's after amassing real estate in just two years.
This episode we dive more into his accomplishments in the health and fitness arena.
From lifting, cardio, diet, and more all through the lens of someone on their FI journey.
Listen, learn, and let us know what you think about this awesome episode! Episode Summary James' Background
As a refresh, James and Emily saved heavily Invested that into real estate properties in Huntsville, AL Then when they retired, they moved to Cyprus Obviously COVID-19 had other plans and they had to return to the U.S. Now they're putting a little effort into some of their rentals And looking for their next adventure
James' Diet
He refers to his diet as "Freegan" This is because he's 95% Vegan but will make exceptions These exceptions are for non-vegan meals that avoid food waste So if the food is already there and it's free, he'll eat it
James' fitness ventures
James has done bodybuilding competitions, lifting, and helped with physical therapy He takes some time to break down the positives of each of these Then we start ways to mix it up because cardio doesn't have to be just running on a treadmill James loves trail runs, HIIT training, weight lifting, and the huge amount of content out there on YouTube He recommends you recognize your body can do more than you think but also be careful of going to some extreme right off the start
Keep It Simple
James mentions how entire food groups do not have to be eliminated Extreme style diets are so hard to be successful with long term He recommends mostly vegetables / not too much mindset That just means understanding the calories you have coming in but making veggies the prominent part of your plate Also don't overthink the amount of weight your lifting Keep it light if your form starts to slip, don't stress about breaking records Also, don't forget the simple parts like hydration Hydration can impact your calorie burning, energy, and cognition Also don't stress about finding the perfect ratio of Fat/Carb/Protein
Don't Get Intimidated
This journey doesn't have to be expensive The food costs can be reasonable James & Emily actually only spend $40/week per person and eat a ton of healthy foods and veggies Then you don't have to pay a ton for a gym membership There's plenty you can do at home, outside or for $20/mo at a Planet Fitness And if you need to earn some extra cash, James actually covers side hustles that are great for your fitness Also, don't get intimidated with bulking up to fast Lifting weights doesn't magically make you get bulky It can be a great way to get toned and burn calories
Key Takeaways
Get Creative: I loved the story of James doing this floor exercise to replace a pull-up movement It doesn't have to be complicated: Too many people sit on the sidelines because they're looking for the perfect diet or workout plan when simple balanced eating and getting active is an amazing start.
Call to Action
Start a fitness or health challenge with someone. Maybe even put a little money on the line to keep up the motivation.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners If you're a rental property investor or business owner, you'll definitely want to check out igloohome.
Today's episode features John Soforic, author of The Wealthy Gardener.
John gives his passionate story of how he went from $200k in debt to over $200k in passive income.
The lessons he learned led to a book he wrote for his son titled The Wealthy Gardner.
The story starts with a stroll through the graveyard but certainly has a happy ending.
Listen, learn, and let us know what you think about this awesome episode. Episode Summary John's Background
John takes a walk when he was 30 He just goes walking in his town Then he walks into a graveyard and sat there for a half-day John was just contemplating life He had two kids, long hours, and $200k in student debt Then he read a book called "How to Think and Grow Rich" Then he set a goal to have $240k in passive income before the age of 50 Fast forward and John retired at age 49 He would then go on to write The Wealthy Gardner as a way to communicate the lessons he learned to his son
Building His Passive Income
Step one was leveraging all 112 waking hours and not just 40 He was working 40 hours in his clinic and 30 hours outside Then he started educating himself on real estate John also hired teams to help him That allowed him to have 500 hours of work a week to his goals This included buying 8 duplexes at once It was an incredible deal where he got them at half price He was able to do this because he offered to buy them all The sellers were part of an estate and looking for quick cash
The Wealthy Gardener Book
John wrote the book in hopes that his 19 yr old son would be influenced by it He convinced him to be his editor to make some money During the process, John asked him to argue points with him Today his son is 25 and saving over 50% of his income so it seems to have worked He also fought to keep spirituality into the book to keep it true to him John originally self-published and book that has now been translated into three languages
Key Takeaways
Leverage: John created so much leverage through teams and real estate which allowed him to unlock his earning potential Stay True to You: I loved how John is open about his beliefs and how he didn't let the prospect of money change them
Call to Action
Investigate passive income streams. Don't get stuck thinking only on huge goals -- just start small and start soon.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners If you're a rental property investor or business owner, you'll definitely want to check out igloohome. Have you ever had to give out a door code or leave a key under a mat for people to enter your property? Not anymore. igloohome's smart locks work entirely on an app + Bluetooth connection so there's no need to sacrifice security. Check out their products today at igloohome.co and get 15% off with promo code FISHOW.
Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN, I used to use incognito mode when I wanted to protect my information and browsing history. But I was wrong. Your internet service provider can actually still legally sell your information even if you’re using an incognito browser. But when you use Express VPN to surf the web, the software encrypts your web traffic and masks your IP address to give you real privacy. Use limited-time offer ExpressVPN.com/FiShow for 3 months off a 1-year subscription. Start protecting your privacy today! John's Information
Website: WealthyGardener.com
Today's episode features Kanwal Sarai from Simply Investing.
Kanwal shares with us his unique investing style.
This style is a combination of value investing like Warren Buffet and a focus on dividend payouts.
Kanwal takes our questions in stride and makes some really great points.
Listen, learn, and let us know what you think about this awesome episode. Episode Summary Kanwal's Background
Kanwal graduated with a computer science degree at age 24 in 1996 About three years in, he realized traditional work couldn't be a forever path This was before anyone was calling it "F.I.R.E" His first side hustle attempt was purified water Long story short...the side hustle was a flop Neither of them knew anything about marketing/sales
Building His Own Investment Method
In 2003 Kanwal started developing his own investment strategy His son was just born and was keeping him up all night One of those sleepless nights he grabs an investing book and was hooked At the time he was paying 2.5-3% fees for advisement His main focus came down to strong dividend-paying companies He calls it "Dividend Value Investing" This is a combination of undervalued companies that also pay dividends
12 Part Checklist of Dividend Investing
- Do you understand the product or service
- Will people still be using the product/service in 20 years
- Do they have a low-cost lasting advantage (think Coke's secret recipe)
- Would you use the product that people would use during a recession
- Do they have consistent earnings growth
- Do they have consistent dividend growth
- Do they have a low payout ratio (dividend vs earnings)
- Do they have low debt %
- Do they have a good credit rating
- Do they actively buy back their shares
- Is it under or overvalued
P/E 25 or less The current dividend yield is higher than the 10-year average Price to Book ratio <3
- Keep your emotions out of investing Kanwal publishes 227 companies that meet these criteria as part of his Simply Investing Report Even with all these rules, you still may find a dud That's why diversification is still so important
Kanwal recommends 25-50 funds
Why Dividend Investing Over Index Investing
Holding the total market (index funds) means that you're going to own some poor quality stocks Getting cashback in your pocket to diversify instead of simply seeing appreciation in one company
Kanwal reinvests dividends across all his dividend stocks and not right back into the company that originally paid it
The average annual yield Kanwal sees from his dividend stocks are 3.5-5%
Key Takeaways
Take The Emotion Out: Kanwal's 12 rules help create a systematic process without being clouded by human emotion Set Goals, Be Patient: Don't get sucked in to get rich quick schemes, find quality companies and make continual progress.
Call to Action
Leave a review on iTunes, share it with us, and then we'll select two lucky listeners for a prize. One listener will get a year subscription to the Simply Investing Report and the other will get full access to the Simply Investing Course. That's $500+ of value!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Looking for a low-cost cell phone service provider with great coverage? Look no further. Mint Mobile provides the same premium coverage you're used to, but at a fraction of the cost because everything is online. All their plans come with unlimited talk and text and you can choose...
Today's episode features Nikko from Nikko Industries.
What a cool and unique guest who is on his way to making $250k this year off his 3-D print business.
This business was no easy task as Nikko didn't become a U.S. citizen until he was 25.
What started as Nikko just trying to be an awesome dad, quickly turned into a life-changing money endeavor.
Listen, learn, and let us know what you think about this awesome episode. Episode Summary Nikko's Background
Nikko's parents were not good with money Nikko and his family immigrated to the United States At a young age, he made a vow that he would not be the same way He would provide and be smart with his money for him and his children Due to being an immigrant, he wasn't able to think about college or many things until he was 25 Nikko joins the military after getting married and becoming a citizen Then he realizes how much more money he could make on the outside From there he takes a traditional commercial role but keeps an eye on entrepreneurship
Nikko's Entrepreneurial Journey
Nikko talks about all the failures he had along the way He had so many setbacks that at one point he just quit But then things turned around for him He says, When I stopped chasing money, money started chasing me Nikko says you really have to love what you do to be successful The business venture that really turned things around for him was 3D printing
Birth of Nikko Industries
Nikko's drive was to find something that helped him enjoy his time with his kids His son loved things like Thor and Iron Man etc Nikko came across someone on Instagram who had printed pieces to a costume He put the 3D printer on the back-burner for a month to make sure he was serious After a month he couldn't stop thinking about it and bought one He started by building a community and youtube channel Then he started looking to actually sell products
Scaling a Business
Nikko admits that he doesn't know how to design these products from scratch He leverages others to make the designs and market it His biggest skill is delegation and making sure he's tapping into the right products His 1st year he made 50k in revenue 2019 his revenue grew to $130k In 2020 he's on pace to make over $250k in revenue Most of this revenue is just off of the digital files He says that he spends about 4 hours per week And now he's coaching others to build 3D printing businesses Then a person can take these files and use their own printer to make them Nikko also has a big focus on giving back During the Covid outbreak, he was printing free face shields for frontline workers
Key Takeaways
Stop Chasing the Money: Nikko talks about how things started turning around when stop solely focusing on the money. Maximize Your Skills: Nikko never designs a file yet makes so much money on them, he uses his skills of delegation to the max
Call to Action
Just go educate yourself in 3D printing. Whether it's Nikko's side hustles, medical advances, or even housing solutions, it's such a cool topic that everyone should check out.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data ...
Today's episode features Dustin Heiner from Master Passive Income
Dustin vividly remembers a march to the boss with kids waiting at home, knowing he was about to lose his job.
He knew from that day, he needed to build his own income streams away from traditional employment.
30 real estate properties later and he had the freedom he always wanted.
Listen, learn, and let us know what you think about this awesome episode. Episode Summary Dustin's Background
Dustin is a serial entrepreneur Websites, pizzeria, graphic design, and even a skateboard manufacturing gig He refers to a traditional job as "Just Over Broke" During this journey, he stumbled upon real estate investing His first one was profiting $350 per month and he was hooked Dustin learned the hard way There weren't any good courses or coaches out there at the time He talks about how much he learned from his mistakes
Breaking Away from Tradition
Dustin also went to college just because it was what he felt like he should do This led to a ten-year career in IT at a government agency He walks us through the fearful moment when he realized he didn't want to rely on someone for employment ever again. That fearful moment was when Dustin got laid off with 4 children He did continue to work in IT but he swapped his perspective From then on, he would introduce himself as a real estate investor 9 years and 30 houses later, he was able to step away from that traditional career Dustin could have stepped away earlier but admits it is tough to walk away from stability
Dustin's Real Estate Investing
Dustin started out living in California Prices didn't make sense there so he looked out of state He was investing in Ohio, Texas, etc Out of all the houses he's purchased, he's only traveled to see one in person This requires a network of people you can trust The key here is the property manager, they are the quarterback His requirement for a house is a minimum of $250 per month profit We also talk about renting vs owning
401ks & Real Estate Investing
Dustin talks about cashing out or borrowing from 401k to buy real estate He actually doesn't like investing 401ks at all This comes off his assumption that he can make so much more from real estate So his argument isn't that 401ks are intrinsically bad
Common Real Estate Mistakes
Not accounting for paying for a property manager Not putting back money for repairs Buying a house with really small margins Buying a home in an area where everyone is leaving In general, overestimate expenses and underestimate rental income
Key Takeaways
Your Paycheck is not your value: Companies pay you just what they need to so that you stay but they're as profitable as possible. Overestimate the bad, underestimate the good: Dustin recommends this mindset when looking at real estate.
Call to Action
Look into real estate as an investment. If your stuck on the fence, especially due to prices in your local area, then do like Dustin did and grab a property manager to invest out of state.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN, I used to use incognito mode when I wanted to protect my information and browsing history. But I was wrong. Your internet service provider can actually still legally sell your information even if you're using an incognito browser.
Today's episode features Genecia who is the creator of Soul Rich Woman.
Genecia's main goal is to empower women business owners to go from offline to online.
She's proven this over her career with millions in revenue and is sharing that with the 200k+ members of Soul Rich Woman.
You won't want to miss all her advice, especially around the love of F words.
Listen, learn, and let us know what you think about this awesome episode. Episode Summary Genecia's Background
At 18 she started with a simple thought of making more in a single hour She was going to school, working, and teaching as a yoga/dance instructor So she decided to build a group of instructors were she made a commission off them Genecia attributes her success to resourcefulness and the people she surrounded herself with After college, she entered a traditional job in a hospital helping children with learning issues She realized that she was making way less in a 9-5 than working for herself in college Then she transitioned to consulting
Offline to Online
In 2013 she transitioned from working offline to online She made $100k in 3 months And $1 Million within a year Then she invested in a cafe retail chain
Helping other Women go Online
The group started just as "Webinar Wednesdays" And in the beginning, there was no traffic But she stuck with it and started advertising on Facebook In the group, she helps instill a growth mindset The group she started is called "Soul Rich Woman" The group is over 200k strong! She talks about women who love "F words"
Fabulous, freedom, financial independence, family
This education and community is available as an annual or monthly service Genecia also really focuses on marketing and helping businesses get repeat business
Where to focus first
She says to work on your business, not in your business This means outsourcing tedious work so you can focus on growth Stay on top of trends Love the customers first and then create what is good for them Genecia walks us through a case study of a fitness instructor going online
Key Takeaways
Get Sticky: Genecia talks about retaining customers by always providing value, this makes them come back for more, aka sticky Leverage the internet: The internet is a force multiplier for not only finding customers but also to augment with employees
Call to Action
Grab $50 and outsource something that is draining you of your time so you can be more productive in areas that really matter
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Sign up to Proptech Conference for a Cause hosted by igloohome. Your ticket fee will be donated to Team Rubicon for Covid-19 relief efforts. Genecia Alluora's Information
Website: Soul Rich Woman Twitter: Genecia Alluora Instagram: Genecia Alluora Recommended Book: Rich Woman by Kim Kiyosaki
Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Doug from Niche Site Project.
Doug brings in hundreds of thousands from his affiliate websites.
These sites are those websites we all use to help us decide exactly which brand/version of a product we're looking to buy.
He started off on a traditional route in engineering but with this incredibly successful venture, he just manages these sites and teaches others how to follow in his footsteps.
Listen, learn, and let us know what you think about Doug's awesome episode. Episode Summary Doug's Background
Doug's first money experience was around mowing lawns He wanted to buy a CD player and realized there was a sustainment tail Doug would also need money to buy the actual CDs He ended up mowing lawns for another 7 years But entrepreneurship didn't really take hold Instead, he went the traditional route Doug went to college and started his career as an engineer
Doug's Engineering Journey
Out of college, Doug was making $52k per year He didn't have any financial or savings goals His wife though was a real saver She rubbed off on him and he came around In 2013 the real changing moment happened He stumbled on a podcast in 2013 This podcast was called The Smart Passive Income Podcast
Entrepreneurship
A month after listening to these shows he started his first gig Doug decided to start with Amazon affiliate pages He admits his first few sites weren't great But after 6 months he was making a few grand per month That's when he realized that he could quit his normal job
What is an Amazon affiliate site
We've all been searching for a product and looked for help to choose We ultimately end up on a "Top 5 hard drive" list Through this list, you click on a link and eventually buy one That link is specific to that site so the owner gets a commission You are helped out and they get paid, it's a win-win SEO is huge to get them there but don't forget to be helpful Doug also spends some time talking about how he manages his team and sources virtual assistants He also offers a full course to teach others on how to do this
Key Takeaways
Affiliates are a win-win: These sites help you make an efficient purchase and put money in an entrepreneurs pocket Keep it simple: Doug laid out his management style and how simple and streamlined it is. As he said, you can always make it more complicated later.
Call to Action
Grab some free resources at nichesiteproject.com/fishow and at least study affiliate links or maybe try to build one yourself.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners Sign up to Proptech Conference for a Cause hosted by igloohome. Your ticket fee will be donated to Team Rubicon for Covid-19 relief efforts. Doug's Information Website: NicheSiteProject.com/FIShow
Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Julien and Kiersten from Rich & Regular.
The name is a play on Rich & Famous where they talk about how they never want to be disconnected from regular people.
They share their personal and professional journey. Julien and Kiersten also share the unique challenges that face the black community and wealth-building.
Most people can think of white people who are wealthy but not famous, yet when we think of black wealth, we conjure names like Oprah, LeBron, or Obama, and Julien and Kiersten want to show that it doesn't have to be that way.
Listen, learn, and let us know what you think about this incredibly important topic. Episode Summary Julien and Kiersten's Background
Julien grew up with a scarcity mindset This was during the crack era in 1980's Brooklyn He knew that money existed but never saw it in real life This led him to believe he could never be rich Kiersten's background was very different She grew up in the suburbs of Atlanta Kiersten says she was comfortable and never worried about money Julien credits mentors at all stages of his life for his ability to make it in life He says these people would always push him further In 2005 he was graduating from Georgia State University and spending time in Europe This trip changed his world view and made him realize what's possible
Difference's in Spending Come to a Head
Julien and Kiersten go on a vacation to Panama Julien expected they would really cut back on spending after returning His focus was on getting the credit card back to zero Kiersten was on a totally different page She wasn't looking to slow down spending This caused some friction but obviously they got through that Kiersten realized she just always had income coming in so she felt like there was always more
Wealth Disparity of the Black Community
Julien highlights the median net worth of black members of the Boston community The median net worth at the time was $8 He talks about the problems society we will see as this gap grows He cautions that there will be violence and crime as people get restless Julien also quotes a study that project the median net worth of black families in the U.S. will be $0 by 2053
How Do We All Help
Kiersten urges people to support black-owned business She talks about how this allows you to vote with your dollar This also trickles down to other families She says that for any product you can buy at a big store, you can probably buy from a black-owned business
No FIRE Number
Julien doesn't find a lot of value in focusing on a FIRE number Kiersten jokes that it has bounced around by 100s of thousands Hitting that number wouldn't radically change how they operate They're very motivated to keep that number climbing With this money, they can make more of an impact on social activism
Resonating with the Black Community
Talking about the FI path in a non-linear way Often times people of color don't have the benefit of predictability Then we talk about the book The Real Pepsi Challenge In this, it's highlighted that black people aren't just white people with darker skin The experiences and interests there are just different You wouldn't market to a mother of three the same way you would to a man with no children So it should be familiar that different people need messages in different ways Julien and Kirsten feel like they're meeting people where they are and speaking to people who haven't been spoken to
Rich and Regular Get Published
They didn't expect to be writing a book this soon This process has involved agents and a writing coach There were 13 different versions as they tried to pull this together Julien describes it as part financial love story, part financial inspiration, and part an invitation to the black community to come to join the FI movement
Today's episode features the most resourceful guests ever, Eddy Garcia & Sam Schiebold from Living Earth Systems.
Eddy and Sam bring a wealth of information on how to re-think how we feed ourselves.
From living on the land to growing tonnage of produce and feeding 20 people from a tiny parking lot.
They are on a mission to inspire and educate the world on how to properly grow and sustain food through plagiarizing nature.
Listen, learn, and let us know what you think about Eddy and Sam's awesome cause. Episode Summary Eddy & Sams's Background
Eddy talks about living off the land as a kid in Hawaii on fish and coconuts An experience that many would pay hundreds of dollars for That reshaped Eddy's thoughts on wealth He realized he could acquire more or desire less At a young age, he also realized giving was really important to him He never stayed at home and skipped school for surfing Sam went a more traditional route This included a Physics degree from a top-10 university She quickly realized that her degree didn't mean much to her Sam ended up finding her way to Hawaii and got into a concept of permaculture
Permaculture vs Regenerative Farming
Permaculture is the idea of making a sustainable food source much like a forest Eddy & Sam practice something different than Permaculture called Regenerative Farming Eddy gives a history lessons on these methods that stem back from the 70s He says he just tries his best to just copy nature This means not bringing in plastics and artificial fertilizers It also means a lot less human interaction Patagonia recently released a regenerative farming certificate
Starting Your Own Crop
Eddy calls out a potato as a great starter These grow in warm or cold climates with little effort Another option is radishes Seed to radish is only a 25-day process He also recommends different types of greens Eddy also says you can grow a lot of things from organic vegetables
Teaching & Empowering
Eddy and Sam are producing courses and videos on growing These tackle anything from composting to urban farming Also helping others overcome a fear of not having a "green thumb" These are all around a closed-loop methodology This means not bringing in or taking out materials That means growing is way cheaper We also cover how this could work for busy professionals They also teach classes and make films on-site in Hawaii This is done on a 170-acre farm in Maui They also have tours and farm to table dinners Eddy and Sam are also actively bringing a portion of Maui back from being a trash dump. Finally, there's also an intern program!
Key Takeaways
Acquire more or desire less: Eddy talks about rethinking how we look at money and how nature plays a huge part in that. Less with more: It's amazing what Eddy is able to grow in such tiny areas, some as small as an eighth of an acre
Call to Action
Try to grow something. Potatoes, radishes, or an aquaponic system. If you really aren't ready, then find some sustainable sources of food for your next grocery run.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to ...
Today's episode features a real Money Nerd, Whitney Hansen.
Whitney paid off $30k of debt in 10 months. She also bought a house at 19 and got her MBA for $472.
She started out life with some hardships but that fueled her interest in personal finance.
Now she's taking her lessons and empowering others through financial coaching.
Listen, learn, and let us know what you think about Whitney's awesome insights. Episode Summary Whitney's Background
Whitney's parents separated after an abusive relationship They then moved to Boise in a two-bedroom apartment Her mom was supporting them with $7.25 of income This was all to support a family with six children Whitney tells a story of how excited she was to get a mattress out of the trash This was when she was 18
Helping Others Save
Some people think they can out-earn bad spending Whitney's #1 point is to find the values and "why" of the person you're trying to help Not all tactics are going to resonate with people but leading by example is a great start She also talks about being relatable If you only share the wins, it can seem unobtainable
Start of Financial Coaching
Whitney was $30k in debt but working two jobs She focused and paid off all her debt in 10 months After that people started hitting her up for advice That's when she discovered financial coaching
Money Coach vs Financial Advisor
Money Coach's can't tell someone what type of insurance they should buy They shouldn't tell a client to buy a specific stock They also shouldn't try to give specific tax advice Instead, a Money coach should focus on saving, philosophy, and just holding them accountable.
Tips to Becoming a Money Coach
It's important to understand how hard a client is willing to work It can change how you work with them or if you should work with them at all You also should start coaching for free or heavily discounted That way you can see if you really want to do this before getting too invested
Key Takeaways
Pressure makes diamonds: We loved how Whitney took her circumstances and used them as motivation Speak their language: Whitney talks about resonating with people about money. You have to meet them where they are and not just try to force them into doing things that worked for you.
Call to Action
Take and share financial tips with someone. Try some of the tips Whitney mentioned and really try to resonate with the person.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. We have both been using Personal Capital for years and highly recommend it. Sign up for your free account here!
Whitney's Information Her Website: Whitney Hansen
Her Podcast: The Money Nerds
Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features the star of the Playing With Fire documentary, Scott Rieckens.
Scott found himself saving 8% an heading towards a lifestyle that seemed unsustainable.
The FIRE movement showed him that his value/happiness was not aligned with his spending.
Scott and his wife made an amazing transformation and shared it with the world.
Listen, learn, and let us know what you think about Scott's amazing journey. Episode Summary Scott's Background
His Dad was in the Navy so he picked up and move many times. His Mom would always try to pick up a job at the new location She also handled the bills and investing outside the pension At a certain point, Scott realized his lifestyle wasn't sustainable He was trying to take on more and his spending was also increasing Then he found the FIRE community That took his focus just from income streams to also include responsible spending
Entrepreneur Focus
Scott found himself laid off three years after college He and a friend spent three months to put together a business plan They raised a couple hundred thousand dollars to build an indoor golf center But as they worked the projections, they ended up scrapping the idea Then he goes back to the drawing board and back to the small business center for help When Scott goes there for advice, the advisor realizes Scott has social media experience In 2009, very few people had this experience and the advisor encouraged him to pursue that route From then on, he's been an entrepreneur Scott recommends the book The War of Art for entrepreneurs
Embracing FIRE
Scott recalls the Chautauqua trip in Ecuador with people from the FIRE movement There he learned that if this didn't work, he'd just be going back to work like everyone else That realization made him feel much more comfortable with the attempt at hitting FIRE Scott then breaks down why everyone doesn't embrace a journey of financial independence Not being in the right place in life or being afraid of what they could uncover We also talk about the taboo around money
Playing With Fire
Scott's original idea was to go around interviewing people about the movement Then it swapped to him actually going through the journey and transformation He talks about how difficult and invasive the documentary Scott also the moments the camera missed Now Scott is taking the Playing With FIRE brand into a Podcast
Key Takeaways
Awakening: It's so cool to listen to someone explain the process of totally shifting your outlook on life as Scott did with his spending Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside
Call to Action
Make a list of the 5 things that you value the most and that brings you the most happiness. Then reflect on what percentage of your budget is spent on items from this list.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry.
Today's episode features the former #1 NFL Fullback and author of Your Money Vehicle, Jed Collins.
Jed had realized his dream of reaching the NFL but with that first big check, came a lot of fear.
Since that point, Jed now embraces fear and shares the lessons he learned with young players and people all over the country on how to take control of their finances.
Listen, learn, and let us know what you think about Jed's amazing ride. Episode Summary Jed Collin's Entry to the NFL
Jed talks about his first big check He knew he'd already spent it all before he even opened it The money had gone towards an engagement ring for his now-wife Jed entered the league as an Undrafted Free Agent so the NFL wasn't a given But Jed had an accounting major so he had a fallback He talks about how having a fall back plan is actually looked down upon He also admits that he understood corporate finances but didn't resonate on a personal level
Helping With Rookies
Jed goes to sessions around the combine to educate rookies on personal finance Some of these rookies struggle with peer pressure around luxuries like cars and jewelry But a lot of pressure is actually from families that they're now supporting There are also things like rookie dinners were these young kids are dropping $27k on dinner And that's for veterans who don't need anyone to buy them a thing The Rookie minimum is almost $600k now
NFL Members Don't Comprehend What They Make
Players don't comprehend the difference between contract value and take-home pay The money coming to you is heavily taxed You also are not guaranteed a spot on the team for the full contract either There is a pension system for those that make it three years in the league But this doesn't kick in until 55 It equates to about $500 per month for every year in the league
Mindset Comparisons: Money and Football
Jed was actually cut 13 times And later in his career, he was named the #1 Fullback in the league That just shows how unstable it can be for a player in the league He feels that there are a lot of parallels between someone being successful and life and sports He also shares stories about Drew Brees that just shows how dedication and process can lead to success
5 associations of money
Jed talks about automating what you do with your money He breaks it down to 5 money areas or associations These (not in order) are:
Society aka Taxes Past Decisions - Rent / Bills / etc Present Day Actions - Day to day choices Future Choices - Investing / Saving Compassion - Donations / Giving
Key Takeaways
Peer Pressure: Jed talks about how powerful peer pressure is and it's obviously not just a concern for kids in school Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside
Call to Action
Divide your spending up into the 5 associations that Jed discussed and automate where your money goes
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier....
Today's episode features Harry from The Rideshare Guy
Harry started down a very traditional path -- an engineer in a cubicle.
Then in 2014, he started moonlighting as an Uber & Lyft driver.
He started a blog and began sharing real data that helped drivers know the Do's / Don'ts and ultimately how to make more money.
Today, his blog has an insanely large following and it continues to expand into more and more areas.
He's also launched a course, Maximum Ridesharing Profits, to teach new side hustlers how to take advantage of the rideshare economy.
Listen, learn, and let us know what you think about Harry's amazing ride. Episode Summary Harry's Journey to Side Hustling
Harry remembers when he realized he could sell chips from his lunch as a kid His lesson was that when people want to pay for something you need to find a way to accept it Harry took a fairly traditional route career-wise He got an engineering job and worked the cubicle environment But Harry was used to entrepreneurial ventures From selling chips to doing laundry, and then driving Uber / Lyft on the side in 2014 Harry then goes over the moment he realized traditional employment just wasn't enough It was realizing a fellow employee had been working in the same building for 40 years He was also having a lot of fun driving for Uber / Lyft and making $35-$30 per hour
The pay was higher back then as fewer drivers were available
Finding a Career Via Uber / Lyft
Harry never really wanted to drive for a living but enjoyed the process So he started The Rideshare Guy Here he would lay out very clearly and thoroughly all the things you should consider as a driver The blog started growing and surpassing the money he made in his regular job It also didn't seem scary because his boss left the door open to return
Frugality and Lifestyle inflation
Harry talks about how he is reasonably frugal but not extremely He also talks about how some lifestyle inflation is positive Nothing over the top but things that make his life more comfortable and less stressful
Deeper info on Uber / Lyft and Rideshare Guy
It's important to keep in mind the pros/cons One big benefit over a similar paying job is the flexibility It also gives you good practice to balancing accounts for running a business At the end of the day, all the things on the sites are just logistics Getting something from point A to point B He also talks about some of the locally specific gigs These may pay more and even come with more traditional benefits
Getting the most out of being an Uber/Lyft driver
Harry recommends a used fuel-efficient car, imagine a ~2014 Prius Then he talks about options that allow you to only do pickup/drop-offs along your route So you could add this into your normal day Then Harry talks about liabilities Different insurances and protections to keep customers from coming after your assets It's not worth ruining your life over a side hustle if you have a lot of assets If you don't have much to your name, it's a little less stressful Another good tip is driving weekend nights and workday commutes It's also important to keep up with miles to deduct those expenses from your taxes Check out his course, Maximum Ridesharing Profits, if you're looking for an all-in-one resource to crush the rideshare side hustle game
Beyond Uber / Lyft
Harry notes that most people only drive temporarily He wanted to start focusing on the jobs these drivers are transitioning to He's done a lot of coverage on transportation jobs like truck driving/taxi drivers Then other demand-based jobs that have similar setups But these are in completely different fields than transportation like a notary of the public These are all covered under the "Thinking Beyond Rideshare" category
Key Takeaways
Provide Value: Harry was successful because he gave a t...
Today's episode features Rob from The Simple Startup.
Rob had an interesting childhood were he got most of his early education in Ireland.
This gave him an opportunity to be exposed to unique learning environments that don't typically exist in the United States.
Now Rob is leading by example and teaching his own students these valuable lessons of personal finance and entrepreneurship.
He has also taken it one step further by creating a workbook that can spread these lessons to everyone.
Listen, learn, and let us know what you think about Rob's amazing lessons. Episode Summary Rob's Upbringing
Rob feels like he had a lot of great influences early but didn't bite on the advice In his elementary school in Ireland, he was involved in some saving focused programs About two years ago he started getting involved with teaching financial literacy with younger kids Rob was born in the United States but was in Ireland most of his life until age 21 He comments that you don't see the drive for FI in Ireland that he's seen here We discuss differences in pension systems and wages between Ireland and America
How Rob Became a Teacher
He had several options to choose from between sports medicine, architecture, and teaching Rob mostly went with teaching because he got the summer off and he loves getting outdoors Even the subject he was going to teach just sort of fell into place Rob actually started teaching in 2014
Taking Money to the Next Level
Rob admits his wife was better with money when they first met That gap he was noticing drove him to take money more seriously Within 12 months of marriage, they paid off all of their $20k of debt After his debt was paid off, he started focusing more on financial independence
Origins of Rob's Love for Entrepreneurship
Rob's high school in Ireland offered him a gap year that is all around self-development His business teacher made them actually start their own businesses The kids were in charge of the full cycle Rob says it was basically the Lean Startup Model Finding something that can be started with resources you already have on hand That first business was selling baked goods which sold at school They profited about 500 Euros The group actually had their own custom stall and custom aprons
Educating the Next Generation of Financially Literate Citizens
Rob asks his students on a skill they'd like to learn but never have Then he challenges them to learn that skill without his help and prove their mastery of it Something like changing the oil in a car and creating a YouTube video teaching others to do the same Then he started a club called The Millionaires Club This club is fully self-funded without fundraising They get their money via business they run themselves and can keep 10% of the earnings As he started building out resources and structures for this he decided he should build a workbook This workbook is an actionable workbook that's very interactive and not just something you read He calls it a how-to guide around starting your first business It's really targeting teens and young adults This workbook covers the full lifecycle Finding a need, building the business, handling the finances, and pitching it to others
Key Takeaways
The Lessons are versatile: Whether it's business, personal finance, or responsibility -- these type of lessons can apply and improve lives in many areas Think outside the box: Rob didn't let what a teacher normally does define what he was going to do with his students and is seeing the results
Call to Action
If there is a young person in your sphere of influence that you can encourage to try a project or a small business, then help push and guide them through that experience. If not, try a self inspection and consider starting up a trial run of a business with extremely low startup costs to see if it's something yo...
Today's episode features Gina from The Frugal Convert.
Gina has a powerful story of being alone and broke at age 19 with a child to take care of.
She didn't let her circumstances define her and took control of her life.
Then over time, things began to slip again and she realized she needed to change at a more conscious level.
Now she's a full-fledged frugal convert and closing in on financial independence.
Listen, learn, and let us know what you think about Gina's wild ride. Episode Summary Gina's "Jar of Pickles" Moment
Gina found herself 19, newly married, and pregnant and totally broke. Her then-husband took her phone, car, credit cards...everything She was hungry and alone in her home and had nothing to eat but pickles Then she found herself on the floor crying Gina then started going through all the bad decisions she'd made in her life that led to this But then she decided she could take control She divorced him and life moved on Now she's married to the man of her dreams
Gina takes steps back again
Things were going well for a while after her wake-up moment Then Gina got comfortable and started racking up credit card debt She and her husband were happy and well employed but her habits hadn't changed Then they found themselves in over $100k in debt Earlier in life, she had racked up debt She had done this because her rent was $1150, she was going to college, had a kid, and only earned $1200 per month Gina would get a loan to consolidate her debt but then keep racking up more with the new limit
Making Habits Stick
Gina realized that she would have to really change her habits to turn her life around Her first step was to start really tracking her spending It wasn't cold turkey, she just lowered the frequency of disposable spending Eating out once a week instead of three times a week, etc She admits she tried to make a budget before she tracked her spending That is generally a big mistake and leads to failure Without a point in time, it is hard to make reasonable projections She also says that a budget should be a living document It can't be something you set and never adjust Gina utilizes an excel spreadsheet and breaks it into four categories The first is survival - food, utilities, rent The second is debt The third is extras - Netflix, eating out, etc The fourth is fun money - even if you still have some debt to pay off
Redefining Frugality
It's not about deprivation, it's about reprioritization It is fun and rewarding to be frugal You become picky about what you spend your money on and only focus it on things you're excited about She also began to realize that she was actually just buying things because it was a habit It wasn't that she needed them or even wanted them long term Now she's much more into decluttering and keeping things simple Finally, Gina walks us through how this is all possible in Los Angeles She also shares budgeting with her kids They don't feel deprived, they are just getting educated and comfortable with money
Leaving A Legacy
She really wants to follow her passions full time and step away from traditional work Gina also wants to get more into real estate and having extra streams of income In 2007 they had bought a condo, then the 2009 crash happened Her husband lost his job because it was tied to the mortgage industry She was furloughed due to the turndown So her focus will be on diversifying their income streams Her real passion is going out and being hands-on with moms in the welfare She wants to develop programs they can use to take control of their finances
Key Takeaways
When Life Hands you Lemons: Gina had every right to be down on life and never crawl out of her low spots, but she always learned and improved herself. Behind Every Paycheck is a Passion: Gina acknowledges that her day to day job isn't he...
Today's episode features Robert from Stop Ironing Shirts.
Robert worked his way up the sales career path.
Then in 2019, he retired with over 28x his annual expenses.
Fast forward to today and he saw that shrink to 18x his expenses.
People often always wonder what it would be like if they retired just before a crash.
Now you have the opportunity to see how that looks first hand.
Listen, learn, and let us know what you think about Robert's wild ride. Episode Summary Robert's Journey to FI
Robert didn't have much money growing up He started noticing the people around him who did Then he tried to reverse engineer how they got there He contrasts how his grandparents had a structured career path and his parents didn't His dad did end up in sales which is where Robert first found the career path
Robert Finds His Career
He graduated high school in 2000 Robert thought he'd go into computer programming That quickly changed when he hated programming Then he got a department store job celling cell phones This made him realize sales was for him Robert goes over how sales have no politics or ambiguity in pay It also means that you can make as much as you can perform
Robert Experiences His First Crash
Robert talks about his experience with the 2008 crash He talks about how his 401k was less than his contributions even with company match Then he talks about how you just have to keep plugging away when it's dropping Your earnings in a savings account simply can't keep up with inflation
Robert Discovers FI
He talks about the life decisions he made once he discovered the FI movement in 2013 The canceled fancy hotels and tried to do some of their own home renovations Some of those changes didn't pan out but the overall path was clear for them They looked and felt like they could retire around 5 years from that moment In 2015 he had a good job opportunity and it locked him into three more years The timing worked out pretty well but pulling the trigger was still scary
Crash Take 2
Robert now talks us through what life has been like during this latest crash He went from Fat FIRE to Lean Fire in one month Robert had also taken on a little side gig but was let go because of the turndown He says at this point you just have to give up control By this he means, just stay the course and don't do anything rash Robert also gives us insight into which individual stocks may or may not be favorable as we come out of this crash Especially focusing on companies that are getting bailouts which hinder investors And rest easy, Robert says he's nowhere near considering full-time work
Key Takeaways
Sell Your Salary: Robert walks us through the high earning potential that sales brings Trust the Process: Losing 10x your annual expenses in a month can be disturbing but Robert isn't giving up on the process
Call to Action
Research some companies you're interested in, you don't have to make any individual stock purchases but it can be a fun exercise to vet companies that you may be interested in.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your...
Today's episode features Dustin Mathews from WealthFit.
Dustin worked for and built several businesses.
Some of these businesses had huge incomes and expenses but Dustin found himself without a ton to show for it.
Then Dustin discovers FI and starts radically changing how he lived and starts spreading financial advice himself.
Listen, learn, and let us know what you think about Dustin's amazing turnaround. Episode Summary Dustin's Journey to FI
He attributes Rich Dad Poor Dad as his entry into FI Most of his work / finance life was around building a business and selling it He started out with some startups but then decided to create his own business Dustin admits he didn't mind racking up debt for these businesses He attributes his entrepreneur spirit from his mom
Dustin's First Business
As part of a mastermind, he found someone who could use some marketing help The business was selling courses around lines of credit for businesses A big recommendation Dustin give is doing lots of small changes and testing along the way.
After Discovering FI
He walks us through the tough conversations with his wife Dustin also said that for tracking expenses, a google sheet stuck with him where fancy apps didn't Then Dustin got the opportunity to go work for Wealthfit
Stepping Back to His Six-Figure Courses
He starts getting involved in product launches which were very profitable Then he starts a seminar business around teaching others to do product launches These seminars could bring in over $1M a year That would be over $250k over three days It's important to remember that was gross income The business kept sprawling with more expenses On top of that, Dustin was spending all his money without worrying about saving
Teaching Others From His Mistakes
When Dustin got the opportunity to work at Wealthfit he was excited Excited to help others avoid mistakes he made with his businesses and personally grow He calls Wealthfit the Netflix of personal finance They have courses and materials around both personal finance and entrepreneurship/side hustles We wrap up with Dustin sharing how he landed Dennis Rodman on his podcast
Key Takeaways
Easy Come, Easy Go: It's awesome to grow your income but you need both intentional spending and income in order to make progress Lift others with your mistakes: We loved how Dustin brings his knowledge and opens up about his failures in a way to help others People can change: Dustin has felt what it's like to live a life full of expenses and huge incomes but the FI message still resonated eventually
Call to Action
Slow down a little if you still haven't found your purpose and re-evaluate that your money and effort are aligned with your goals.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital.
This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. We have both been using Personal Capital for years and highly recommend it. Sign up for your free account here!
Dustin's Information
In today's episode, you'll hear from your hosts only. Hopefully, you find some comfort in today's episode during this uncertain time.
This episode is covering the Coronavirus, how it impacts us mentally, physically, and financially even if we're lucky enough to avoid getting sick.
These are certainly tough times but we hope there are some bright spots you can use as motivation to get through this.
We don't know how long this could last, so let's get through this prepared and together.
Listen, learn, and let us know what you think. Episode Summary Topics Covered in Todays Podcast Focusing on Coronavirus and FI
We start off covering current correction
We’re currently at late 2016 levels
Then talk through scenarios if you pulled out of the market in 2008 and stayed out for X number of years
Even if you invested at the height of the market (September 2008), your annualized, inflation-adjusted return as of March 2020 is 4.5%
Federal tax filing deadlines and payments extended to July 15 (including estimated quarterly payments) Cover importance of having an emergency fund Briefly touch on unemployment benefits Share our thoughts on if we get stimulus checks, what you could do with it Go over side hustling / extra income ideas We look at how you can support local businesses and yourself
Do you have tech skills? Help companies go digital as a consultant
Share our opinions on stopping the spread of the virus (incubation period, social distancing, etc.) Give insight into our own personal impacts with travel etc Brainstorm some low cost/ free hobbies you can do online Help you see how Zoom/Skype tech can replace happy hours and social events Emphasize fitness while quarantined Try to highlight the money you'll be saving during a quarantine Then look to share some potential escapes you can still do that are quarantine friendly
Running Camping Biking Photography Road trips
We go into over-preparing, mentally and financially, for the potential that life remains in an altered state for many months Finally, we remind you that now is the perfect time for projects you've been putting off, now is the perfect time to accomplish
Key Takeaways
This could take time: We have to plan both mentally and financially for uncertain times to consider for many months. Silver Linings: It's certainly not a situation any of us want to be in, but what can we do to come out of this as strong as possible? FI is here to stay: There are voices out there calling for the end of FI, but there will never be a reason to stop aligning your spending to your values, living responsibly, and educating yourself on finances.
Call to Action
Really think through and put together a plan for how you can last 8+ months living in this way that covers you financially, emotionally, and physically
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time.
Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal!
To be eligible to receive the $5 bonus,
Today's episode features Christine Hughey who owns A Little Local Flavor food tour business.
Christine navigated several cities and years to land her dream job in Nashville.
Then shortly after, Christine would be celebrating a new marriage and devastated by their household income dropping from $120k to $35k.
At the bottom, she took a challenge to start her own business and in no time had created a six-figure food tour company that is growing at leaps and bounds.
Listen, learn, and let us know what you think about Christine's amazing turnaround. Episode Summary Christine's background
She feels like she had a better than average financial understanding growing up Christine would go visit who are Grandmother who tasked them with tracking stock prices Her Grandmother would also buy them small stocks in companies they understood It gave them something to chat about over their times apart Christine admits that she took all those lessons for granted until much later When it was time to go to college, Christine wanted to get into the print industry This ended up requiring her to get an engineering degree at the college she was at From there she moved to Colorado and got a job she did not enjoy
Journey Towards FI
In 2006 she is making around $35k per year and saving around $200 per month She also realized a true engineering job wasn't going to be there for her in Denver From there she moved to a small town in Texas for a few years Then her dream job opened up in Nashville, TN
Things Begin to Fall Apart
We're now entering 2013 on the journey and Christine is hitting her groove Until she is shocked to find out that she'll be losing that dream job quickly after starting Leading up to this, they had tried to push more and more work on her with no increased pay Christine's husband helped her through this down period Then she got a new contract for a dream job as an engineer and things were looking up Then six weeks after their honeymoon, that new contract got pulled and she was unemployed On top of this, her husband lost his largest income-generating gig Six weeks after their honeymoon they saw their pay get cut from $120k to $35k They started cutting all expenses and downsizing their house Christine admits that the whole experience was crushing She vowed to never let one company be the source of her income
The turnaround
Christine finally finds work at a food tour company in Nashville The hours are long and the pay had gotten cut in half Then January 2018 happened and her life completely changed This was when she attended her first financial independence event Christine attended CampFI down in Florida At the conference, she was challenged to start her own food tour company When she got home, she quit her job and started her own business that May This was the start of A Little Local Flavor
Building a Six-Figure Business
Christine admits she was out of her comfort zone What got her through was just taking one small step every day Most of her education came from podcasts It took some time for her to shed being an engineer as her identity As she built her team she had several keys she wanted to hit Some things she wanted was to fair pay, have strong values, and a good work environment She then layers in lots of bonuses into her employees' pay This small step really incentivizes them to do great work By the end of 2018, they had over $60k in sales But then 2019 grew like crazy She grew her team to include 8 employees They also saw the number of visitors grow to 4400 and sales to $330k With that, they took home 23% as profit Christine expects to grow that margin and increase tour types and locations Her 2020 goal is $500k for the company She also hopes to be able to scale back her involvement
Key Takeaways
Social Currency: Christine talks about how to put ou...
Today's episode features Tyson Koska from OnTrajectory.
Tyson joined the Army when he didn't have enough money to go to the college he wanted.
Later, he would end up with an English and Philosophy degree which didn't land him a job.
He fell back on an old skill of programming and up-skilled his way into eventually making six figures.
Listen, learn, and let us know what you think about Tyson's amazing turnaround. Episode Summary Tyson's background
From a young age, he had jobs and tried to make his own money His goal has always been to be independent When it was time to go to college his parents offered to help But for them to do so he would have to live at home Instead, he decided to join the Army and became a helicopter pilot Tyson admitted he made a lot of missteps when he first started working He blew all his money and racked up credit cards
Reinventing and Up-Skilling
He left the military in 1992 In the end, he would end up in that little local college after all Tyson decided to study English and philosophy Those majors didn't provide any job prospects Tyson fell back on his old skill of programming that he learned at age 13 This spun into a job and a pipeline for up-skilling Over that stint, he would climb from $30k income to over $100k His income was increasing but so was his spending Tyson says that was largely due to marrying the wrong person Then we discussed what really flipped the switch for him He recalls a friend who wanted to open a McDonald's His friend said he needed $100k to do so That sounded like a ridiculous amount of money to him but inspired him
Creating OnTrajectory
Another big turning point was when his second kid was on the way There was so much unknown and he couldn't find a tool to help him plan for them This need led him to build OnTrajectory Now he sees both individuals and advisory firms using the tool It's also available for a free 30-day trial with no credit card needed to sign up Then Tyson walks us through all the incredible detail you can get from the app There are walkthroughs on YouTube as well as several guides It's a really cool tool that allows you to insert tons of complicated life events into your projections
Key Takeaways
Mistakes Happen: Tyson calls out several missteps but he learns from them instead of dwelling on them Life is Complicated: OnTrajectory was born out of this idea to model all the crazy life events we can run into
Call to Action
Head on over to OnTrajectory to start your 30-day free trial and see what your plan looks like with all those important life moments.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time.
Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal!
To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after...
Today's episode features Josh Overmyer from JoshOvermyer.com
Josh lost his job and a major chunk of his home value in 2009.
That would force him back under his parents' roof for two years.
Luckily he turned things around and discovered FI but it wasn't all roses.
Josh takes us through that whole journey including bouncing back from failures with precious metals, penny stocks and peer to peer lending.
Listen, learn, and let us know what you think. Episode Summary Josh's background
Grew up in small-town Indiana Dad worked in a factory, Mom works as HR manager both 20+ year careers First in his family with a 4-year degree He majored in Urban development Moved down to Fort Myers Florida in 2005
The Great Recession Hits
Then the recession hit and work came to a halt Then in July 2009, he lost his job Josh then moved back home to stay above water He had bought a house that saw its value get severely lowered Josh had to keep up a low-cost lifestyle for two years He averaged $19k in spending Josh would move out of his parents' house in 2011
Bumpy Path to FI
Then he started finding FI/RE bloggers like J Money Josh eventually found a job in grant administration Then Josh starts talking about the failures he’s learned from These include investing in precious metals, penny stocks, and peer to peer lending
Hitting His Stride
Josh would land a new job back down in Florida At the exact same time, he would start driving for Uber He just kept saving and saving July of 2017 he started maxing out his 457 Over his 3.5 years working in Florida he would start at 30% and ramp-up Josh then covers all the activities he takes place in the FI community In his day to day life, he doesn’t have people to talk about Finance with But through FinCon and CampFI he has found his people He has also credited Travel Rewards as the biggest game-changer for him The whole 3.5 years he worked he didn’t have vacation so he saved points Now he’s utilizing those points and recommends the Capital One credit card Josh then talks about how to hit those minimum spends
Key Takeaways
Life hits hard: Josh never could have seen his world flipped upside down from the recession, but it did and he wasn't prepared Learning from mistakes: Josh tried several different angles at investing before finding his groove Stay Positive: Josh is so upbeat about his story and now in a great place and will be ready for the next market challenge
Call to Action
Head over to our Facebook Group and let us know a failure you've had and what you learned from it.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time.
Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal!
To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account...
In today's episode, you'll hear from just your Hosts! That's right, no guests today, but plenty of voices will be heard.
This episode is covering the 2020 goals we sourced from our Community Facebook Page.
In today's episode, the guys share with you the powerful goals The FI Show group set for 2020.
As always the Community Facebook Page has set the bar high and brought us some impressive ambitions that we can't wait to follow and help motivate!
As always the hosts will also be transparent with their financial goals for 2020.
Hopefully, you enjoy this special episode!
Listen, learn, and let us know what you think. Episode Summary Goals from various community members
345 bench / 445 squat / 515 deadlift Add $100k to their net-worth Visit 15 new countries Publish a second book Finalize estate plan Quit jobs and fix up Air BnBs Pay off student loans Buy first house hack Positive net-worth Attend 2020 FinCon Complete triathlon Make $35k from rentals Buy replacement commuter car Put extra $12k towards mortgage Payoff house Zero consumer debt Max out IRAs
The Hosts Share Their 2020 Goals
Justin
Finish a half marathon length spartan race Put $100k into the stock market Make $1800 selling blood / blood cells
Link To Learn More - Tell them Justin sent you!
Finish 2012 Ford Transit camper-van conversion Have an 80%+ savings rate Hit his FI Number ($550k)
Cody
Get to his lowest body fat % of his life Buy a house hack Invest $50k into retirement accounts Take one memorable trip every month Volunteer more Push himself and take a risk
Podcast
Get an A-list celebrity / athlete on the show Double listeners and community members Hit the road and meet the community in person
Key Takeaway
This community is ambitious: We were amazed to see how strong some of these goals were but based on the 2019 progress, we know they are going to hit them.
Call to Action
Join the FI Show Community Page and share your goals with someone!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time.
Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal!
To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.
Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today's episode features Rebecca from My Fat Purse.
She breaks down how she and her husband paid down his $180k student loan debt in just 2 years.
Rebecca and her husband gave up pensions from the military and are poised to hit FI in 5 years.
She talks about how powerful tracking their spending and avoiding lifestyle inflation was to this journey.
Listen, learn, and let us know what you think. Episode Summary Rebecca's background
She started taking her finances seriously after marriage Rebecca's husband came into the marriage with $180k of debt They paid that debt off in 2 years Rebecca graduated without any student loan debt thanks to the military She studied mathematics for her bachelors Then she got paid by the Air Force to get her masters
Paying Down $180k Debt
Rebecca attributes tracking expenses as the most powerful force to paying off debt They put all of one salary completely towards debt She also calls out how important it was to avoid lifestyle inflation That refers to slowly spending more money over time Rebecca's husband was also in the Air Force He was supposed to be on scholarship but ended up losing on it She covers that tough decision on giving up a pension and chasing FI
Life After the Military
Her husband took a slight hit in income and she saw a raise Rebecca stuck with working for the military as a contractor Her husband decided to completely change up his job They now have control over where they live but decided to stay in Colorado This was mostly due to her husband's job and ease for her to find a good job
Path to FI
They have purchased two homes One is their primary residence The other was for renting out on Air BnB That experiment didn't turn out well so they sold it Outside of their primary residence, they keep it simple with a three-fund portfolio Rebecca feels they are five years away from financial independence Next Rebecca walks through why and how they combined finances They do keep separate accounts for some flexible spending
Budget Tracking
Rebecca really emphasized tracking spending and how she does it She started with Mint Recently she transitioned to an app called EveryDollar She also has built a very robust tracker you can download
Key Takeaways
True Partnerships: Rebecca didn't put all the debt payoff on her husband, she knew that their goals were tied together and decided to help Tracking not budgeting: People often think you have to set limits on yourself when in reality, simply knowing where your money goes is the first step Not all real estate is gold: Just a nice reminder that while real estate is extremely powerful, it's not foolproof as Rebecca found out
Call to Action
Take some time and completely track your expenses for 1-3 months even if you've done so in the past. This can help make sure you fully understand where all your money is headed.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time.
Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal!
Today's episode is an awesome chat with Purple from A Purple Life.
Purple has an awesome story and she hits a giant milestone of retirement at age 30 this year.
She covers how she continued to jump jobs in a way to increase her salary 3x while raising job satisfaction.
Listen, learn, and let us know what you think. Episode Summary Purple Beginnings
Purple was introduced to financial independence by her partner However, she didn't listen to his advice for two years She felt she had things in order to retire in her 50s Her mom actually retired in her 30s Purples mom also helped build financial understanding She would give purple $1 for chores but remove taxes first Purple talks about being frugal in high school and college Her degree was in American Studies She ended up landing a job in advertising Then New York happened She said she was brainwashed there Expensive heels and purse subscriptions ensued
Job Hopping
Her first New York job paid about $35k She was also super unhappy and stressed Purple quit that job without another one lined up She was hired in a couple of weeks with a promotion and $13k raise That made her realize how much she could leverage job offers The next job was another $17k raise which put her up to $65k Then she looked to start dropping her expenses This would take her out to Seattle which was half the cost of Manhattan Job hops would continue until her salary today of $110k In total, she had 3x her income and cut living costs in half between rent and taxes
FIRE Ignites
It started clicking that these voices like Mr. Money Mustache were actually realistic She got a lot more serious about all her line items A big one she calls out is learning to cook After things settled, she realized she could and will retire at 30
Her Why of FIRE
She doesn't want to be held to a schedule... that simple Purple doesn't hate her job and even gets to work from home She also plans to stop renting and slow travel all over the world Purple admits she doesn't know if being a nomad will be for her Her target date is September 2020
Why her Journey works
Never owned a car Doesn't want a house Will not have children Started investing early Only spends $18k per year Net-worth
2015 - $89k 2016 - $137k 2017 - $234k 2018 - $280k 2019 - $448 Projected $500k at retirement
She's super flexible
Un-productivity Advocate
Purple is a hard worker and type-A But she recognizes too many people equate being busy as successful There's no strong desire with her for a side hustle It's important for her as an introvert to take time and recharge She does, however, plan on continuing her blog And she also uses the app Job Spotter to make some money on the side
Key Takeaways
Leverage Yourself: You make $x today but that doesn't mean it's what you're worth. Don't underestimate your value. Compounding is Strong: Purple started not making a ton and living in a very expensive place but now she's retiring at 30. It worked because she started early and just kept saving. Busy isn't required: Purple calls out how we don't have to inject stress, plans and work into our lives, that it's ok to just relax.
Call to Action
Take a look at your skills and how they could fit in a different role or company that allows you to up your salary.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
Empower is a mobile app that makes managing your money ...
Today's episode is an awesome chat with Jillian from the Everyday Courage Podcast.
As a young adult, Jillian had huge goals in life to adopt children, travel the world, and hit financial independence.
Then, Jillian hit all these things by the age of 32.
While it is amazing to hit goals early, it can leave you devoid of a north star.
Now she is helping others through coaching and this podcast to find their own goals and push themselves Especially those parts of our lives where we settle and tell ourselves that 'it's ok" or "it's good enough".
"Avoiding the 6's" as she calls it.
Listen, learn, and let us know what you think. Episode Summary Jillian's Background
Jillian got married at age 19 She saw from an early age that money gave you options They started off their marriage with $55k worth of debt From the start, they always stuck to a goal to save 50% They made some difficult choices like living in a camper or roommates They would end up investing and buying rentals This would lead them to be financially independent at age 32 Their goal was certainly never that early in the beginning Jillian credits her small-town upbringing for her strong work ethic She also notes that hard work gave here control she craved Her home life was rough at times and out of control
Everyday Courage Podcast
Jillian discusses how we typically see courage as huge events In reality, there are moments every day where we can do courageous things Success is like this too where there are small wins all around us She warns against having peak experiences with unfulfilling large gaps between Then we start talking about success She breaks down how success is so different for everyone Jillian talks about how to keep going once you met all your goals She thought she had a lifetime of goals but hit them by 32 She talks about the amount of reflection that takes Jillian also describes how luxuries become necessities as you grow Now she has big goals that have no time limit She explains the importance of imagining yourself as the person who has met your goals Then think about what gaps exist between that person and who you are now.
Avoiding the 6s
When we're in a situation that's a 2 out of 10 there's little risk As in, if you quit a job that's a 2, how much worse could the next job be in comparison Then if it's an 8+ it's where we want to be The problem comes in the "good enough" are of the 6 Doesn't everyone struggle with fitness, relationships, work/life balance, etc When pressed on these situations they feel like "it's ok" Jillian urges people to not settle into these 6s She tries to focus in on things that people hesitate around Finding the things in your life that you procrastinate around Then understand where that resistance is coming from Mostly being aware of the resistance and having the curiosity to solve it
The layout of the podcast
The show is set up in seasons around a theme and interview They are set up to be really short listens There will also be a workbook where people can follow along Episodes are only 6-20 minutes long One episode comes out every week The seasons are wrapped up in two-month chunks
Key Takeaways
Courage every day: Jillian's premise is that we all have things in our lives that we can work towards every day that takes a little courage. Define your success: Don't let someone else set your goals for you because even if you meet them you won't be fulfilled. Luxuries to necessities: Jillian explains how coaching or retreats may be luxuries at first but as you continue they can become necessary to your growth
Call to Action
Find a "6" in your life and push yourself to make progress in that area and not settle.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and...
Today's episode is an awesome chat with Emil from Roofstock.
Emil covers why he wanted to get into real estate and what held him back.
He knew his area of California was too expensive and discovered the idea of long-distance real estate.
Roofstock gave him the tools and confidence to make his real estate dreams a reality. Then a couple of years later he actually joined the company and is here today to walk us all through his journey and what Roofstock could bring to the community.
Listen, learn, and let us know what you think. Episode Summary Emil's Background
Emil was instilled with values early from his frugal parents In high school, he got interested in stocks and started self investing At the time he was picking individual stocks but doesn't advise that He luckily had a friend who was like a child genius with stocks When heading out for college he needed a car and sold his stocks to purchase one In college, he studied economics His first job would be aggregating data on pharmaceutical companies It's clear Emil gets a ton from his time working across a few startups Emil also stresses the importance of Networking It would ultimately lead to his job at Roofstock
Emil's Journey to Roofstock
Emil became a user of Roofstock in 2017 At the time the company wasn't at a point to bring on remote workers He would continue to send marketing materials to Roofstock that he thought the could use Over time Roofstock opened up remote positions and he went to work with them Emil had a strong connection to the company because he always wanted to invest in real estate His dad actually had been investing in real estate for a long time The problem for Emil was the prices that were near him So he got interested in remote real estate That's where Roofstock came in to save the day He now has several properties over multiple states including Florida and Indiana. He bought his first home in 2017 for $84k in Jacksonville with an original rent of $900 The property had a new roof and HVAC so it almost turn-key Today it is renting for $954 He also has never had to change tenants Total cash-flow has been $8,200 Appreciation has also increased the property value by $26k
Roofstock Details
Roofstock links you up with preferred property managers You're not required to use them but you're not forced to find someone Roofstock makes their money during the sale of the homes It's actually a great deal for both the buyer and seller The seller ends up paying 2.5% vs a standard 6% for the sale Then the buyer pays $500 but gets a ton of support Beyond the property manager help, they also have preferred lenders Emil scans Roofstock to find states with good returns Then he looks for states that have landlord-friendly laws to avoid squatters He also recommends job and population growth Most properties have an inspection report This inspection report also comes with an estimate to get it rent-ready Then you can leverage the property manager to find a trusted contractor
Roofstock Guarantees
If you're not happy with a purchase, roofstock will help you sell it If it's not sold after 90 days, roofstock actually buys it back They also have a rent guarantee This kicks in if you can't rent a property after 45 days After that point, Roofstock will pay 75% of rent It does require some things on your end
You're using a preferred property manager The home is rent ready Rent isn't set at an unreasonable level
Free to Sign Up
Yep, Roofstock is 100% free to sign up You only need an account for certain functionalities, but still free Currently, they service residential only but up to 4 unit properties
Key Takeaways
Everything gets disrupted: It's awesome to see a service like this trying to take something traditional and put a unique twist on it.
Today's episode was recorded live at Camp FI down near Gainesville, Florida.
Camp FI is a retreat of 40-60 people at locations across the country filled with people chasing FI and supporting fellow members of the community.
This episode highlights people who were convinced to come to CampFI without any background to the FI/RE movement.
Two other interviews include a graduate student studying the FI/RE movement and the camp's creator, Stephen.
Stephen talks about the origins and future of this camp and the motivations to keep this community growing.
Listen, learn, and let us know what you think. Episode Summary Laura
Inspired by an interview with Vicki Robbins She was drawn by the way people see the role of work in their lives The community was also very open to being researched She noted how diverse the age and background was of the movement It also came out that most people actually love their jobs The last thing she called out was how intentional and conscious of their decisions You can email her at firestudy@umich.edu if you're interested in being interviewed
Mike
He never could have imagined being at a conference like this A friend of his recommended that he came He notes how ready he is to take action the minute he gets home Mike really recommends that people give this community a chance Tactically he got an overview on how to get his realtor's license He didn't image the generosity that he found with the community
Roople
Rupel is a practicing physician She loves the challenge of why you're living life the way you are Rupel calls out the trouble she sees with physician burnout She also noted how easy it was to have deep, personal conversations with this community While at the conference she moved investments away from higher fee options to low-cost index funds She hopes that doctors will dig a little deeper and find why they love doing what they do Refocusing on that and restructuring their life she hopes will alleviate the burnout Since hearing about the movement, she ditched her overpriced apartment and bought a home
Creator of CampFI - Stephen
Stephen tried to make more of an emphasis on making real connections with the attendees He hopes that people who are looking to get involved with FI/RE community will just jump in Stephen first attended a camp like this in 2016 and knew he had to spread this idea to more people This year they look to have at least nine of these camps all across the country Stephen had no background in event planning and didn't know what to expect Luckily everyone showed up who bought tickets the first year Also worth noting that CampFI is where Cody & Justin met and The FI Show was born
Key Takeaways
FI isn't so different: Many of the stories we heard from FI "newbies" during the week mentioned that this community isn't just a bunch of "weirdos" and "money nerds". It's just people making slightly more conscious decisions. So many paths: There was so much diversity: age, gender, profession, and general paths to FI. It showed just how many ways there are. People are good: The American news cycles are often rough and draining. It's nice reminding yourself just how good people really are.
Call to Action
Start leaning on or creating a community around you that supports your growth as a person and your goals to reaching FI.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
One of the best ways to protect your family is with term life insurance.
In today's episode, you'll hear from Court who writes over at Modern FImily.
Court and her wife are (mostly) retiring early in Canada at 32, but will continue work a bit more until their second child is born.
They did this with student debt and a priority for living a full life while chasing their dreams.
Listen, learn, and let us know what you think. Episode Summary Discovering Financial Independence
Court had $70k of student debt after her bachelors and masters degree She'd start her career in 2009 She was focused on getting out of debt Court paid it off in 2.5 years At this point, she looks to buy her first home She then also discovers Mr. Money Mustache
Starting a career
She had the opportunity to participate in this rotational program It allowed her to rotate three times in six-month time segments across different jobs That gave her a wider view of options and allowed her to choose one right for her
Start of a family
She would meet her now wife in 2011 Her wife would also end up with some student debt It was obvious right away that both were frugal and passionate about travel Court drove the spreadsheet part of the relationship but their goals align
Looking forward
After getting married in 2015 they start designing their future Court's wife was originally from Canada and they set their sites there They would sell their home and all their things in Florida Then they traveled for 6 months before moving up to Calgary Court thought she'd a while to find a job and might travel another 6 months Luckily the job came through sooner Court was frugal but didn't have the investing background until finding the FI community They welcomed their first child in 2018 and are planning for a second
Canadian Perks
Canada gives 18 months of paid time off for new parents This nets around $25k per year The insurance is incredible She tells a story of going to the emergency room with less than $20 out of pocket The medical bills for the birth of their child were limited to parking at the hospital Court got her citizenship through her dad but could have gotten it through her wife She also still gets U.S. perks like good travel rewards credit cards Canada also gives you around $5k per year for children up to 17 years old Canada will also give you $500 via match into an education saving plan They also have payments to citizens over the age of 65 that's based off income She also says that taxes are actually not that much higher than the USA
Looking Forward
Court lays out her withdrawal plan for retirement She's moved to 60/40 stocks as she's about to stop working There is a plan to get back to 80/20 after a few years in retirement They plan to try and have a second child Court goes over some of the considerations for a lesbian couple having children They saved and planned for a 4% withdrawal rate They believe they can be happy with closer to a 2% withdrawal rate
Key Takeaways
Better than expected: Court talks about how much faster FI came than expected Canada has perks: It's so important to enjoy the journey on your way to retirement Power in learning: Court wasn't from Canada but she's immersed herself to become an expert
Call to Action
Take a closer look at the fine print of your city/state/country programs and retirement options and consider what moving might look like.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
In today's episode, you'll hear from just your Hosts! That's right, no guests today, but plenty of voices will be heard.
This episode is covering some of the activity that's been going on in our Community Facebook Page
In today's episode, the guys share with you the powerful accomplishments The FI Show group is achieving.
Also if you join the Community Facebook Page, we're starting a new thread for 2020 goals. Comment with your goals and we'll feature you on an episode coming out later as well as check-in and keep you accountable!
As always they'll also be transparent with their own wins.
Hopefully, you enjoy this special episode!
Listen, learn, and let us know what you think. Episode Summary Wins from various community members
Set up a Roth IRA for 18 yr old daughter Visited FI friends in 10 states Wrote a book with their daughter Got to at least one comma in each account Wrote a book 5 figures from a side hustle FIREd at 44 then hit UK Chautaqua, CampFI, and FinCon Reached FI at age 30 Maxed out his and wife's 401k Couple that both FIRE'd before 30 Vacationed and paid off a truck Paid off a mortgage Fired a financial advisor and started to DIY Transitioned to full time selling on Ebay and many more....
One huge transformation
Discovered FI on Christmas of last year with only $1,500 in a checking account (plus some mutual funds for retirement) Since then, negotiated a $12k raise Got her company to pay for PMP Volunteered at a startup to learn new skills to switch to a better-paying industry Moved to another job for ANOTHER $30k raise Automated savings to accumulate a $20k emergency fund Maxed out Roth and HSA for the first time, plus getting a 401k match! Took time to think about WHY even pursue FI Now in the process of downsizing life and purchasing an RV to travel the country, see the public lands, and spend more time outdoors!
The Hosts Share Too
Justin saved 76% and is 80% of his way to FI He spent $23k while living in Boston With $10k of that going to rent...ouch Full break down of expenses for those curious
Bills: $1,133 Travel: $315 Misc: $255 Eating out/drinks: $108 Gas: $61 Groceries: $53
Justin started a new job and upped his earnings Some notable trips to Hawaii, Mexico, Colorado, countless other trips and time with family
Cody spent $28k while also living in Boston Quit his job in January of 2019 Toured the country for 3 months living in a camper for Grant Sabatier's Financial Freedom book tour. Got the Financial Freedom Summit setup for 2020 And took a 3.5 week trip to Peru and Chile in December
Key Takeaway
Reflection is Powerful: Both of us and the FI Show community felt so much more motivated to tackle 2020 and just felt so much better about ourselves after we realized how much we all crushed 2019
Call to Action
Join the FI Show Community Page!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
One of the best ways to protect your family is with term life insurance. Even though we don't like to think about it, it's important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine yo...
In today's episode, you'll hear from just your Hosts! That's right no guests to save the day.
As a reminder, Justin chronicles his life at Saving-Sherpa.com and Cody writes at FlytoFI.com
In today's episode, the guys tackle 10 financial tips they always hear and give their take on what's true.
Hopefully, you enjoy this special episode!
Listen, learn, and let us know what you think. Episode Summary Credit Card Balances
We discuss why you should ALWAYS be using a credit card The need for setting up autopay to pay off the full balance Neither of us recommends carrying any balance Some think it helps build their credit In reality, you're just setting yourself up to pay a ton of fees The actual factor that relates to this is credit history which doesn't require a balance
Rent vs Buy
Justin calls out the importance of keeping in mind closing costs, HOAs, insurance, etc It's much more complicated than comparing a mortgage to just your rent These things are especially true if you're moving every two or three years If you can go beyond and do things like house hacking, then buying is certainly a great option Also, keep in mind the non-money part of the decision Owning a house can be stressful and add in more variables to your life
New vs Used
Justin recommends buying a car that's 5 years old on a deal Then keep that car for two to three years and try to sell before you hit 100k Justin prefers these cars to be under $10k Cody discusses depreciation and interest rates Justin then compares buying a car and keeping it for 20 years vs rebuying periodically
Good vs Bad Debt
Obviously there is some debt that's terrible such as credit cards with 15% interest Then there is a middle ground where it's debt that doesn't earn revenue but allows you to invest more Both felt like anything that 4-5% range in interest should just be paid off as quickly as possible
Going to College
Going to a community college first isn't a no-brainer Many scholarships that universities offer are only given to incoming freshman Justin would have missed out on 10s of thousands if he went to community college Cody calls out how important it is to just be intentional He also calls out the cool trades and technical skills that don't require a college degree
Filling Up Savings Accounts
Justin highlights how destructive inflation can be It's also scary to see how many people have avoided investing during the last five years These people are often terrified that we've hit the top Both guys highly recommend buy and hold as well as getting into the market right away
Financial Advisors
Justin does see value for some to have a tax specialist but doesn't see the need for a financial advisor It may be a good idea to pay a one time fee for an advisor to help set up a plan you're comfortable with That could help you get off the sidelines without being tied down to fees long term These advisors often charge at least 1% which can really add up You can see how much these fees are costing you by using Personal Capital's Fee Analyzer tool. If the only reason you're using an advisor is to give you a scapegoat when things go bad, rethink that To round it out, Justin cautions employees from having too much of their portfolio in their employers stock
Whole Life Insurance
Justin highlights that no reputable financial independence writer has recommended Whole Life insurance People want to sell you these because the salesman gets a royalty for life Whole Life mixes insurance and investing which means neither is as efficient as it could be This doesn't mean you should necessarily cancel your plan if you're already deep into it If you're really interested in this topic, we covered it previously in-depth You can find that episode with Sa El here Also, don't forget to check out our sponsor Bestow for great insurance quo...
In today's episode, you'll hear from Lauren and Steven who write over at Trip of a Lifestyle.
This awesome couple took a six-month honeymoon to Hawaii and that changed everything.
They got a taste of traveling on a budget and earning along the way.
We can't wait to showcase how they took control of their work-life balance and living life to the fullest.
Listen, learn, and let us know what you think. Episode Summary Discovering Financial Independence
Lauren started paying attention to income in college She worked her way through college with scholarships and jobs Then when her and Steven moved together to California they started talking to advisors Steven's started getting interested in investing after he started working They ended up getting sold some really bad investments from a bank investor Although it was a bad situation it was a big learning moment They actually came up with this idea of having investments covering your expenses before formally discovering FI It was also really helpful that they started early before they had faced lifestyle inflation The big change for them after finding FI/RE was just saving with more of a purpose They end up moving back to Florida to take advantage of a free master's program for Steven This program was based on a requirement that Steven would teach for a bit in Florida During his teaching commitment, they got married and started brainstorming their honeymoon
Long Term Honeymoon
They had a goal of really driving down the cost per day for a Hawaii trip Instead of a week or two, they would stay six months They bought a used car, rented an apartment, and worked 10hrs per week When the trip was over, they had broken even and their net-worth actually grew This trip supercharged their will to retire early Lauren & Steven were actually more excited about work because they knew what they wanted now When they returned to Florida they also bought a small condo for cash Even though they owned their house, they brought in roommates to bring in more money
Finding Work-Life Balance
To enable this type of travel they leveraged their skills to earn money while on the go Steven picked up some private tutoring jobs They both also do photography Lauren negotiated with her employer for a part-time remote job which they agreed When they would go on trips after buying their condo, they'd sign short term tenants Lauren will also help out small business with social media
All 61 National parks in seven months
After a period of working after returning from the honeymoon, work started taking a toil They felt really burnt out and felt like they should just be doing more of this travel So they came up with this idea of seeing all 61 national parks Total cost of the trip including van depreciation, healthcare, chartering planes etc was $37k That's total for two people and seven months It would have only cost $21k if they skipped a couple of the really remote ones Over that seven month period between side jobs and rent, they earned $37k So their income matched their expenses while taking an incredible trip You can get the full breakdown of this trip here
Their Spending
They have spent $18k-$27k per year They are comfortable not chasing a specific FI number Lauren & Steven look to continue their side jobs but have no interest in starting a business
Key Takeaways
Test driving FI/RE: Lauren and Steven talk about how their trips are a test run at what financial independence will look like. Avoid burnout at all cost: It's so important to enjoy the journey on your way to retirement It's ok to not be a boss: I think it was very insightful that Lauren & Steven would rather use businesses than create one
Call to Action
Take a mini-FI/RE vacation and take some control over your work-life balance.
Join the Community
In today's episode, you'll hear from Gina who you can learn more about at Horkey Handbook.
Gina grew up poor but graduated college at 19 and began a string of successful careers.
After burning out in corporate America, she decided to try her hand at entrepreneurship.
Now she is running several successful online businesses aimed at helping others become entrepreneurs themselves.
Listen, learn, and let us know what you think. Episode Summary
She grew up poor and money was always a challenge As kids, she'd have to buy her own clothes even in middle school Gina started babysitting at age 11 But Gina was always driven to make something of her self She actually started going to college while she was an 11th / 12th grader This allowed her to graduate college just before she turned 20 The program is a special thing that Minnesota does and is free Then she ended up getting married at 21 and settled down in her hometown After college, she worked for a company helping people reach fitness goals Then she'd transition careers into being a financial advisor Gina was working 60 hour weeks but was learning a ton It's obvious that Gina is an extremely hard worker This means that she thrives in a commission-based jobs Her biggest advice for these type jobs is to sell something you're passionate about She gives some interesting insights into the life of a financial advisor Gina would stay in this career field for 10 years Just before leaving the corporate world they started preparing for a change Her husband quits his job in 2013 to be a stay at home day She knew she wanted to be an entrepreneur and started investigating Gina would start freelancing in several different areas Then she did some virtual assistant working By 2015 she was full-time entrepreneur Her corporate job had been paying about $60k before she left She talks about a lot of the success and benefits One of which is they take a 2-month vacation to the beach in Texas every year They actually unenroll their children from school every year and home school them There were some struggles though She felt guilty being close to her kids but having to work all-day Gina now has a separate location on her property to work in It really helps her separate life and work Gina does struggle with taking on too much work This year she actually stressed herself out so much she grew a dependency on alcohol Luckily she is now been sober for over six months Then Gina goes over some tips for managing stress Her and her husband are both frugal and don't want a lot of flashy things She does, however, believe in investing in herself Gina actually pays $3k per month for a business coach and it's totally paying off Her and her husband also utilize a personal trainer Then Gina goes over a laundry list of businesses she's involved in These include virtual assistant, freelancing, and Pinterest courses Some of these are branching off into niches Such as podcast virtual assistants
Key Takeaways
Control your income: Gina talks about how a sales-oriented career puts earning power into your own hands Commit Cautiously: Gina put so much into her businesses, but at times pushed herself way too far Branch successes: When Gina finds something is working she doubles down and finds another angle to also go after
Call to Action
Invest in something that will improve your life. Whether business, fitness, or anything that makes you happy.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
In today's episode, you'll hear from Lisa who writes over at Mad Money Monster.
She started off life poor, had a bad first relationship, then discovered Financial Independence.
Lisa was in her 30s and went in full force cutting out all her expenses.
It turned out to be too harsh and she shifted her mindset to FI/OR.
This is Financial Independence / Optional Retirement and she breaks that down for us.
Listen, learn, and let us know what you think. Episode Summary
She grew up poor so she was always fascinated with money Once she had her kid she really knew finances were important Then she meets her current husband and they start to close on their big dream home Lisa talks about how the home was way out of their price range Luckily the inspector found black mold in the house This meant the deal fell through and they avoided huge debt Lisa was in her mid-30s in 2015 when all this happened
Growing up Poor
Then Lisa talks about her upbringing in a 400 sq ft trailer She does note that it was in a great school district Most of her classmates lived in big nice houses Neither of her parents graduated high school Justin and Lisa talk about how to fit in when you don't have money One of the big things was spending a little to get name brand clothes Since they lived in such a small house their family was doing ok They weren't living on super thin margins but they weren't saving anything
FI Journey
Lisa already had her undergrad, masters, and career started before finding financial independence She had been saving for retirement since day one but no extreme focus Lisa steps back in her story to cover a relationship that fell apart earlier in life She ended up leaving their house with nothing Lisa actually owned a home that she rented to her parents but didn't want to stay there So she ended up renting another apartment Then we step back to what life looked like when she really discovered Financial Independence The day she discovers it, she goes into work and maxes out her 401k contribution Then they started cutting everything No weekly pizza or coffee dates, nothing was off-limits
FI/OR - Financial Independence Optional Retirement
Lisa goes over the 5 big points of this idea of FI/OR Pressure is off - you don't have to be extreme and retire super early for no reason Makes work more fun - FIRE made work seem daunting, focusing less on it made work fun Scale back / Stop Side Hustles - these are just second jobs and it can grind you down Gives You Options - now you can focus a little more on the things you love vs rapid spending Lisa's original goal was to stop working in 2021 and just do nothing Then she started thinking about kid's college/wedding, vacations, mom's care Now Lisa is rethinking her timeline and moved it to 2025-2030 She and her husband currently have blogs and rental properties She also admits she could never just retire and do nothing
Key Takeaways
No money? Spend it anyway: Lisa talks about how important having nice clothes was for her self esteem growing up poor It's ok to slow down: Obviously Lisa has pivoted and changed her plans and she sounds so much happier with optional retirement. Pick a Partner: We discuss how being cheap is destructive to relationships and the environment
Call to Action
Slow down a little, spend some time and money on something you love and avoid deprivation.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Check out our Sponsors
In today's episode, you'll hear from MK Williams who authors Financial Independence Fiction.
She started out chasing a career for money but found herself unsatisfied.
MK studied the art of writing and self-publishing.
Now she is authoring books and helping other authors as well.
Listen and learn all about side hustles and let us know what you think. Episode Summary
MK saw her mom put herself through law school and struggle From there she always wanted to hoard money vs spending it She decided to major in economics This decision was largely to earn a higher income She had a passion for writing but didn't feel like she had the skills MK graduated in the middle of the recession so no job was lucrative Her first job would come through a fluke all at USAA She had moved down to Florida to live with her parents Her starting salary was $38k but she didn't love her job While in Tampa she would meet her now-husband Jason Jason actually owned his house and was renting rooms out to people It's very obvious that Jason and MK are completely on the same frugal page We then discuss how they keep finances straight as a couple They actually just use whatever credit card they need for rewards
Writing as a business
MK had this dream that she would just write a book and a publisher would show up That didn't happen She said it took her three to four years of learning to be ready In the end, she settled on self-publishing MK wasn't driven to write for money at first She then discusses how she grew her brand organically Mk wasn't open to the idea of just paying for tons of ads to grow Then we talk about MK's inspiration for her fictional novels She shares a story of her husband who started selling her families stuff at 12
FI Journey
MK got out of debt in 2012 Then they discovered Mr. Money Mustache in 2013 The topic didn't stick at first but then they read Early Retirement Extreme and it stuck this time They had always been good with money but there was no real purpose behind it. Then we swap gears into how she's helping Fiology and ChooseFI with their books MK is now a full-time author and independent publisher by helping others learn how to self-publish She's also taking all these lessons and sharing them via her YouTube Channel MK also shares how authors can still provide physical books without huge upfront costs
Key Takeaways
Partner in crime: It's so important to get on the same page with your partner, if your not today, just keep working Keep Learning: MK shows how she's continuously learning such as re-reading Harry Potter to understand how a series builds Cheap is harmful: We discuss how being cheap is destructive to relationships and the environment
Call to Action
Practice your listening skills, We learn from listening not from speaking.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Learn more about MK Via her website 1MKWilliams.com
Read her FI-fiction book
Learn about self-publishing via her YouTube Channel Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, you'll hear from Jen who co-hosts the Frugal Friends podcast and writes at Modern Frugality.
Jen really didn't want to become frugal in her 20's because she was afraid of losing out.
Over time she realized the amount of work it was taking to reach her goals was too much.
She decided to stop only focusing on more work and begin focusing on frugality.
Listen and learn all about side hustles and let us know what you think. Episode Summary
The first thing her husband wanted to do after getting married was paying off student debt Jen was not originally on board with this She didn't want to live under a rock under her 20's Her husband explained the opportunities that they'd have if they got out of debt They were $78k in debt total The two of them also didn't have a ton of income Jen came around to getting out of debt but still didn't want to lower her income She tried to add on three side hustles on top of her job There was so much stress that she ended up with shingles In totality between all their work and side hustles, they were bringing in up to $88k Originally the goal was to be debt-free in 5 years In the end, it turned out to only take 23 months
Jen's Tools for Turning Around Her Finance
One of the most powerful tools she used was a method called habit stacking
This is where you take one habit you're good at and sticking another on top Hers was brushing teeth with budgeting tied in on it
Jen also really recommends manually tracking vs automated systems at first Another tool Jen used was a no-spend challenge This is where you don't spend money on any non-critical item for a set period of time Many times people shoot for a month Saving money is good for you and the environment she also calls out Buying cheap things that get tossed lead to waste
Cheap vs Frugal
Impacting someone else negatively is cheap Impacting yourself negatively is cheap If it's illegal it's cheap If something takes you so much time to save money that you're not there for someone else it's cheap
Key Takeaways
Less is more: Jen actually became happier in life after stripping off unnecessary spending instead of it being a burden Saving is self cafe: She talked about how so many of the things we spend money on take us away from things we really care about Cheap is harmful: We discuss how being cheap is destructive to relationships and the environment
Call to Action
Assign a value on a scale of your choosing to the expenses in a certain category. Start reducing the ones you value least.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Learn more about Jen Via her podcast
One of her books -> Saving with Spunk, The No Spend Challenge, Meal Plan on a Budget Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, you'll hear from Mrs. Miller who writes over at Millers On Fire.
Mrs. Miller grew up in the Bronx surrounded by low incomes and not much excess.
She gets out and her salaries begin to really climb. Once she passed the six-figure mark, she started feeling the guild of success.
At age 32, she comes to terms with what she'd achieved and found a new motivation in a journey to financial independence.
She also shares her experience with the Blogging for Profit Course.
Listen and learn all about side hustles and let us know what you think. Episode Summary
She originally wanted to go into criminal law. The original plan was to get a political science degree That should set her up to become a lawyer Once she decided being a lawyer wasn't in the cards she swapped majors She'd end up graduating with a business degree Being born and raised in New York she lived there with her father while she hunted for a job She'd eventually find work with the U.S. government in California
Mrs. Miller's Background
Her salary would quickly climb from $35k to $70K and eventually up past $100k The problem was her lifestyle inflated alongside her paycheck She slowly increased her savings rate from 3% to 10% Lacking financial literacy, she didn't consider what investing could do for not only her future but start a shift in generational wealth
Mrs. Miller Discovers FI
At age 32 she came across an article that explained this idea of financial independence She took a look at her life and spending and realized she had a lot of financial potential She admitted to struggle to even store all her clothes and shoes Throughout her working career, she'd only been saving 10% of her income After the discovery of financial independence, she would ramp that up to 50%
Mrs. Miller Spreading FIRE (+ Blogging for Profit)
Once she experienced such a shift in mindset, she wanted to spread it In 2016 she bought the domain name for millersonfire.com Unfortunately, it didn't go anywhere Running a website proved to be overwhelming Then in 2019, she took a course on Blogging for Profit From there she found the tools and motivation to get back to her passion project Mrs. Miller has seen a big turnaround and shares that for her readers She also does a great job of being extremely transparent with her numbers The Millers sit at a net worth of about $500k Their goal is $1.1M and hope to hit that by age 44
Key Takeaways
Success can hurt: Mrs. Miller was crushing her professional life but felt undeserving and guilty when she knew many people even in her own family, who were struggling. Don't listen to standards: Saving 10% can feel like the finish line, push yourself to save as much as you can, not hit a minimum number. It's ok to get help: Mrs. Miller tried blogging back in 2016 and hit a wall before getting help from the Blogging For Profit Course.
Call to Action
Reevaluate a project you started that fizzled out due to overcomplication
Side Hustle Courses [Limited Time] Blogging for Profit Course (receive bonus ebook on signup)
Etsy Printables Course (receive bonus ebook on signup)
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Learn more about the Millers Via their blog at Millers On Fire
Read her Blogging for Profit Course Review Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, you'll hear from the side hustle king Nick Loper from Side Hustle Nation.
Nick got an eye-opening opportunity in college and knew he had to be his own boss.
He would eventually work three years in the corporate world. During that time he was building his side hustle.
It was quickly covering his expenses and he never looked back.
Listen and learn all about side hustles and let us know what you think. Episode Summary
He started paying attention to money when he started realizing how expensive things were Things such as renting a tux for prom His parents didn't let on that they had the money that they didn't It wasn't that they were rich but they did well His first memorable job was through a program called College Works They pitch entrepreneurship, sales, and customer service You don't know what the job is until the pitch is over It turned out to be house painting They gave him an area of responsibility and taught him several skills He was in charge of hiring, firing and solving customer issues They warned Nick that he may never be able to work for someone after this experience Nick mentioned how important this experience was to applying his education He would go on to work for three years in corporate America
Nick's 1st Side Hustle
Nick built his first side hustle at 22 It was a comparison shopping tools for footwear Every day he'd come home and work on the side hustle from 7-10pm At his normal job Nick was making ~$50k per year Before long the shoe site began earning enough to cover his expenses At this point, Nick was ready to take the side hustle full time What really flipped the switch for Nick was a quote from a conference It was "Work on your business, not in your business" Nick took this to focus on growing the business and less of the day to day grunt work That lead to the next side hustle which was a yelp type site for finding a virtual assistant
Choosing Your Side Hustle
Nick recommends finding two areas you're in the top 50% in Then find a way that those two things intersect He also suggests trying out things to experiment You'll often find your true golden idea once you get started on a project If you begin to dread the work, it may be time to stop working on that side hustle
Tiers of Side hustles
Nick says side hustle fall into three categories: Service, Product, Audience For Services, Nick really recommends branding fragmented services He gives the example of building a maid service that has great customer service and ease of booking For Product he recommends a "buy low, sell high" model like print on demand shirts Then for an audience, you can sell clicks to ads or affiliate links Also once the audience gets large enough you can sell something like an ebook or course
Key Takeaways
Expertise not required: Nick's first side hustle was comparing shoes and Nick knew very little about shoes Be better, not necessarily different: It's more important to provide a great experience than something that's never been done Think in scale: When building a side hustle focus your energy on how it will scale. Remember work on the business not for the business
Call to Action
Go check out Nick's giant list of Side Hustles and find a few today
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Learn more about Nick Via his blog at Side Hustle Nation Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, you'll hear the powerful story from Deanna who writes at Recovering Women Wealth.
Deanna would bounce around the world while sprinkling in college which she graduated from at age 28.
By that time she had already been married and divorced but found her passion in teaching.
Unfortunately, she then became addicted to drugs and alcohol and found her self six figures in debt.
Thankfully at age 36 she got sober and now at 46 is debt free and on solid financial ground.
Listen to one of the more powerful episodes we've ever had and let us know what you think. Episode Summary
Her parents were good with money and she was rebellious She knew money was necessary to be able to get out on her own Deanna did some learn some money lessons but they didn't sink in until much later She admits that they wanted for nothing and were middle class Deanna's parents also saved up for her college Her dad was a successful salesman and her mom stayed at home She would end up bouncing around while sporadically going to college Deanna would end up in Europe, Colorado, and Ohio At 25 she was married and 27 she was divorced Deanna would also have to file for bankruptcy because so much debt was in her name At 28 she would finish her undergraduate degree and find her passion in teaching While it took her 10 years to get her undergrad, she got her graduate in just one year To pay for her lifestyle during all this she would rely on being a waitress She started out on a promising career in education as a mathematics teacher Then someone from her past came back to her life and got her hooked back on drugs She stopped teaching and got offered a job at a country club she used to work at Unfortunately, it was a job surrounded by alcohol Deanna would continue to spiral and found herself six figures in debt
The Turning Point
She recalls seeing three paths including insanity, death, and a glimmer of hope At 36 she realized she was done and quit cold turkey She was able to do this without entering a treatment facility Instead, she just utilized anonymous groups Her money journey started to turn around too A church friend introduced her to the Dave Ramsey techniques Now four years she was making a lot of progress but still had struggles She would end up losing her house due to foreclosure Now with little debt remaining, she was extremely motivated At age 43 she made the decision to move in with her parents to accelerate things She became debt-free in December 2017 Today she works in the insurance industry and loves her job She started that career-making $40k and is now up to $70k Deanna is actually looking to take a year and volunteer at an orphanage in Uganda We can't wait to see where life takes her and her powerful story
Key Takeaways
Financial freedom > Retiring Early: Deanna is 46 and not near the end of her FI journey but she feels so free without the burden of debt Use these powers for good: I love how this community takes there freedom and uses it help others the way Deanna does It doesn't have to be a sprint: Deanna has made huge strides but many would not feel comfortable taking a year off but that's what she wants to do so she can volunteer at an orphanage in Africa... and that's pretty awesome!
Call to Action
If you know someone facing addiction, send them Deanna's story. Even if you don't, we all have bad habits. Face one unhealthy habit this month and eliminate it!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
In today's episode, you'll hear about the Financial Freedom Summit!
We're super excited to invite listeners to this conference. FI Show listeners can get a special meet-up including free swag and possibly a personal finance book if you sign up fast! You can get tickets at TheFiShow.com/summit
To help us cover the summit we bring on Grant Sabatier from Millennial Money and PT Money who created FinCon.
This summit is for everyone. It's not a blogger conference, it's for everyone who is trying to improve their relationship with money.
The Summit is May 1st - 3rd in St. Louis.
Listen as we uncover why we are so excited about a conference that you surely won't want to miss. Episode Summary
We start off by getting PT Money's background who started as a CPA He would then go on to create FinCon (if you've never been...just GO) Then we move to Grant Sabatier He went from $2.26 over $1M by the time he was 30 He writes over at Millennial Money Grant also authored the book Financial Freedom Then PT gives us an overview of how FinCon got started in 2011 Grant then talks about this need for The Financial Freedom Summit He first noticed this need while on the road across America talking about financial freedom He and Cody then set out to create a game plan and road map It's just an honest attempt at being stewards of the community The big change conversations will happen everywhere It may be in the hall, between sessions, or in the lobby in the middle of the night The big goal is to track $1B in net-worth increase in 10 years No one will be here trying to make a commission off of you Just people answering your questions There's also a rockstar list of speakers You can also make the conference your own with separate tracks Tracks like debt payoff, parenting, real estate, or entrepreneurs In the end, we just hope to see you all in St. Louis May 1st - 3rd
Key Takeaways
Everyone is welcome with money: This isn't just for a small sect of people, if you want to grow your relationship with money, you're welcome Finance is more than early retirement: Debt payoff, financial freedom, meaning to money, there are so many There are tracks for everyone: Budgeters, entrepreneurs, real estate, small business, or gig economy... there are a lot of tracks
Call to Action
Go to TheFiShow.com/Summit and get your tickets so you can join us for this awesome weekend.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Learn more about the Financial Freedom Summit Buy tickets and learn more about the conference at TheFiShow.com/summit Learn More About Your Hosts Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, you'll hear how Nate created a site to help people navigate student debt called LendEDU.
You'll hear how this website was born during college and now makes over $1M per year.
Joining Nate is one of his employees named Mike.
We cover their specific site, the industry, and tips for students today.
Listen and read below to hear this awesome business transformation. Episode Summary
Colin's upbringing led him to be frugal In high school, Nate had some jobs He didn't really care about finance until college His freshman year he took on a good bit of debt in 2012 Mike still has student loans He didn't take it seriously until graduation Nate also worked during college He started paying off his debts immediately He graduated with $60 debt $45k came after 2 years then he changed it up He started mixing in community college Nate and Mike met in college Nate starts LendEDU and brings on Mike By the time they graduated in 2016, it became a full-time job They both highlight how little finance information is available to high school and college students They also realize others cover their material But they try to present it in ways more consumable by younger people Mixing in video and shortening length We dive into some tips for incoming freshman Question really why you're going to college Do you already know your profession? Is trade school a better option? Then exhaust every grant and scholarship Students should also look at what their total debt bill with be, not just year one Nate saved $10k by mixing in community College while at a 4yr university Then we jump into the business side of the website They started off making $200 per month from advertisements in 2014 By the end of 2015, they were making $10k per month By the end of 2016, they reached $50k per month The team has scaled to 15 people Today LendEDU makes over $1M per year working with 120 advertisers Their reviews are all unpaid and therefore objective Separation between the income and the rankings of products is important to them Then we talk about unique new ways to avoid student debt One is payback programs where you commit a percentage of your future salary The other is where you don't need a co-signer for your loans Under this model, it is based more on your degree choice and time left 'til graduation
Key Takeaways
Don't wait for success: It was awesome to see how Nate didn't put this business off until he graduated Hire who you trust: The team has grown to 15 and 10 of those were college classmates. Trust is often more important than qualification White Space Can Be a Style: Plenty of companies were covering these topics but none in a way that resonated with 20-year-olds
Call to Action
Take a look at your student loans and see if there is a refinancing option or anything to make those payments fly by.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Connect with the LendEDU Crew Via their website LendEDU.com Check out our Sponsors
Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it's free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.
In today's episode, you'll hear how to get to financial independence via Blackjack (wait, what?).
Yep, that's right. Cody and Justin are joined by Colin Jones from Blackjack Apprenticeship.
Colin got an education in mathematics and started out as a teacher.
A buddy introduced him to card counting and changed his financial path forever.
He turned a couple thousand dollars he and his wife had saved and tried his hand at the card tables. That small amount of seed money would lead to millions in earnings, a team of prolific card counters, a documentary and his website where he looks to train the next great card counters.
Listen and read below to hear this incredible story. Episode Summary
Colin's upbringing led him to be frugal He really just wanted to be in a band and wasn't interested in college His parents urged him to go He decided he'd rather go to school than go out on his own Colin ended up studying mathematics which was a great foundation to card counting When he was 22 a friend gave him a book about card counting to win at blackjack Colin then talks about his practice schedule went After his friend started ramping up his earnings to $80 an hour, Colin decided to give it a real try He took $2k of the $6k he and his wife had saved to seed his efforts For the first few months, he wasn't really making much His friend got picked up by a national card counting team Then, later on, that same friend transferred all that knowledge to him and that really upped his game After a bit, they realized they could make $200+ per hour if they had $100k in money to play with For his career-high, he earned $434 dollars per hour It took them 6 months of 30 hour weeks to get to six figure earnings After a couple years they had formed a team that was making $500k per year Colin opens up about how his profession was viewed by his family which were missionaries Then Colin talks about the legality of card counting at a casino
Spoiler alert: it's perfectly legal
Colin also gives us a brief overview of how card counting works One interesting thing is Colin has never put money into the stock market He prefers to invest in real estate and grow his online business His online business is Blackjack Apprenticeship The site has online forums, software, and training videos to help you learn card counting yourself On top of that, he does three or four live events where he helps polish fellow card counters' skills Colin signs off by challenging everyone to question why they want to be financially independent
Key Takeaways
Money can be made everywhere: This is just another example of the limitless ways you can earn money in today's world. Easy money is hard: Colin can repeatedly walk into a casino and earn money but it took countless hours of hard work and practice. Tombstones: We absolutely loved his statement about the goal isn't to have financially independent on your tombstone. Life is bigger than that.
Call to Action
Write out five things you envision you'll do in retirement and then elaborate on why you actually want to do those things
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Connect with Colin:
Via his website Blackjack Apprenticeship
Also, check out his book 21st Century Cardcounter
Documentary Snippet
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by Ben Le Fort.
Ben is Canadian and has an awesome back story.
His parents were financially unstable even to the point of needing Ben to help with the mortgage as a teenager and bankruptcy.
Ben would go on to turn things around and is now on the financial fast track. He and his wife now own two properties and are saving aggressively towards retirement.
Fun note, one of those properties is actually the home that his parents now live in.
Listen and read below to hear his amazing journey. Episode Summary
Ben grew up upper-middle class but then 2008 happened Both of his parents were realtors and the recession crushed them leaving them bankrupt His parents had no savings and the housing market crashed Looking back he saw some flags that they hadn't been saving One of those flags was being asked to help pay the mortgage as a teenager The problems his parents went through caused him to choose economics as a major Ben would end up graduating with about $30k in student debt This was a rough go because he was having to use student lines of credit His parents' income made him ineligible for financial aid or government student loans in Canada Ben would go on to miss some payments which took a toll on his credit Upon graduation, he couldn't find a good job because of the recession (2010) This drove him to going back and getting his masters degree Ben got roommates in a run-down apartment for $350 a month He tried to continue living the college lifestyle so he could pay off his debt Ben became debt-free in 2015 Then Ben talks to us about meeting his wife She was very risk-averse and investing scared her After tackling stocks they moved on to real estate Ben now has two properties and has done very well on both Fun note, his parents actually rent a property from him Ben's financial world is now off the charts and he's looking to help other That's what started his venture into blogging online via Medium That writing has now turned into a legitimate side hustle We then tackle Canadian investing vs American investing
Key Takeaways
Be prepared for the unthinkable: His parents were so used to their income and the stability of the housing market. When it crashed, they certainly weren't prepared. Your start doesn't define you: The thing that really jumps out in this episode is that his parents' bankruptcy didn't mean Ben couldn't be successful. It actually benefited him through the motivation it gave him. Currency Matters: There was a really tangible discussion where Ben called out the tactics of someone in Canada investing and how it differs from the United States.
Call to Action
Whether it is a parent, cousin, or just a friend. Find a loved one who could use a talk about finance and open up and talk to them. Keep it simple and make them feel comfortable if you can.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Connect with Ben:
Via his publication on Medium called Making of a Millionaire
Via his writing at Wealthtender
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog) Check out our Sponsors
Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it's free to start,
In today's episode, Cody and Justin are joined by Taylor Offer from FEAT Socks.
This 26-year-old has been making millions since he was 22 from selling socks.
Yes, you heard us right...Socks. But FEAT Socks aren't your average socks and Taylor isn't your average entrepreneur.
Taylor gave up a prestigious investment banking internship to follow his dreams and create a business.
There was failure and even an unhealthy amount of success. Today Taylor has streamlined business and his life and ready to show you how.
Listen and read below to hear his amazing journey. Episode Summary
We welcome Taylor from FEAT Socks This business now makes millions annually From a young age, Taylor was fascinated about price arbitrage -- this is where you can buy something and sell it for a big markup Taylor doesn’t remember one moment that made him interested in money He was more focused on value even as a child Going into college he was only focused on a lucrative degree He got a coveted internship in banking Then realized how unhappy everyone in this business was That made him realize that entrepreneurship was going to be his path People were hard on him for dropping his coveted internship His first business venture was a marketplace for college kids It was called Market Loco and got over 500k hits in a month The infrastructure costs were too expensive, so it failed His next venture was making custom print t-shirts for frats / sororities He started door-to-door but did a huge cross-country spree It was really successful at the beginning and seemed too easy Then one of his orders got ruined by the manufacturer on a $7k order Taylor realized custom business was really tough Great quote – “There’s a million ways to get it wrong, and only one way to get it right” He meets his soon-to-be business partner his senior year His partner parker had done $1M+ in custom lacrosse jersey sales They brainstormed and settled on crazy socks as the next idea This would become FEAT Socks They sold $2k worth of socks out of a backpack on campus the first day Over their senior year they sold 20k pairs of socks They were making these by hand with a heat press Eventually they hired out college friends Imagine college kids in an unheated workspace, drinking and making socks They really grew their list through Instagram and Facebook Things really turned when they got their angel investor Overnight they get $250k as seed money and FEAT Socks is legit Then through some connections they get Aly Raisman as an influencer It was during the Olympics and she sells $500k worth of socks and FEAT Socks goes viral Originally, they were going to give away 50% of the company for $50k Instead they raised the $250k at a $1.5M evaluation Then we start talking about how the business got away from them At age 23 they are making millions, move to LA and hire 20 entry-level employees They get a 5k square foot warehouse all decked out Taylor and Parker get named to Forbes 30 under 30 and life seems perfect Then, their logistics company misses Christmas delivery dates for a ton of customers They also spiraled into depression and worked 16 hour days all week Taylor just broke down one day and took a one way to Thailand He saw these poor kids in the streets who were happy That moment made him really realize what was important They also realized they had $75k in overhead -- this caused them to let go of more than 75% of their workforce and to automate everything It was cheaper, better quality, and way less stressful FEAT is now very successful with only 1 hour of work per day for the founders With FEAT Socks running on its own, they started a marketing company Taylor actually has like three other businesses going on (serious entrepreneur!) He feels like he’s happy but always finding the balance Oh,
In today's episode, Cody and Justin are joined by Carl and Mindy Jensen from 1500 Days.
This power couple is a staple in the financial independence space.
We had a blast recording live at FinCon and can't wait for you to hear.
Discover the origin of the 1500 day blog, the dinosaurs, and why Carl will never be a plumber
Listen and read below to get all the wisdom from Carl and Mindy. Episode Summary
Carl discovered FIRE after having a bad day at work at age 37 He ended up setting a goal of retiring in 1500 days He met his goal at age 43 Mindy and Carl write over at 1500 days Mindy is also a co-host of the Bigger Pockets Money Podcast They live next to Mr. Money Mustache in Colorado After becoming friends they went in together in a co-working space We start unwrapping Carl and Mindy’s upbringing Carl’s parents weren’t very good with money He also was the first in his family to go to college Carl became a work-a-holic and a money hoarder He would wake up with nightmares about money and getting fired Mindy actually is the one who still works though She loves her job, which has nothing to do with her education Mindy and Carl had their kids before they discovered FIRE They were three and five years old Both kids are still in school With that, Mindy doesn’t miss valuable family time by working We then discuss how the kids perceive them as retired parents Mindy recalls growing up spending all Saturday going to garage sales She said her parents had money but didn’t let the kids know Carl recalls picking individual stocks when he first started working He doesn’t recommend this approach now but got lucky with it Mindy didn’t utilize the stock market until she got married But she did start investing in real estate right away Her first place was a $50k condo She sold it a little later for $75k We go back to hearing how Carl started his blog 1500 days It was based on the days left he had to work after discovering FIRE The blog was a way to keep him accountable Currently, they invest in real estate including a Maine trailer park They also do index funds, solo 401ks, and a syndicate deal They still do live in flips and are about to start a new one We then discuss the things they do for fun Carl’s favorite thing about retirement is the uncertainty The next big project they have is starting a brewery Mindy discusses not moving around even with no job holding them down Then we dial into the final three questions Trust us you won’t want to miss these
Hint… Carl gets sprayed with feces
Key Takeaways
You may not change: Carl was addicted to working and staying busy. Just because he doesn't have to work, doesn't mean it changes that natural instinct to look for the next project. You may work for fun: Most people get nervous about retiring early out of fear. In reality, most people still end up making money in retirement. Just look at Mindy who's killing it at Bigger Pockets Have fun people: Our favorite thing about Carl and Mindy is just how much fun they have with life. Don't stress yourself out. Enjoy the ride.
Call to Action
The call to action this week is in honor of our guests... DRINK A BEER! Non-Alcoholic is just fine :)
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Contact Carl and Mindy:
Via their 1500 Days
Listen to Mindy at Bigger Pockets Money
Follow them on Twitter
In our Facebook group!
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
In today's episode, Cody and Justin are joined by Alex Fasulo who is the queen of Fiverr.
This 26 year old makes insane money as a copywriter all online.
Alex came from a family of entrepreneurs but sought a job in politics or law.
After graduation, she found herself in a job she hated and quit soon after. Alex turned to a little site called Fiverr to start trying to earn money online.
Fast forward a while and she'd become a Fiverr pro who travels the world and makes over $350k per year risk-free.
Listen and read below to hear how she did this and how you can too. Episode Summary
She really started paying attention to money after moving to NYC and being out of a job just a few weeks later The job didn't turn out to be at all what she was expecting So she quit She comes from an entrepreneur family Her mom has done hand-painted clothes Her dad has made board games She went to school for political science and aspired to be a lawyer or politician In the house, they were smart with money and savers However, there wasn't conversations on investing or anything more complicated Before she quit her job she had been on a site that was still pretty small called Fiverr After a few months, she started having some traction with it Alex recalls the first day she ever made $100 in one day and felt like this could work Then we start discussing how she grew her rates and found her value After a year of taking things really seriously, she was earning around $32k Alex talks about how important the review is during this growth stage She said if you're early on, it's best to just create a new account if hit with a bad review Now we unravel the origin of Fiverr Pro and how Alex's earnings exploded Alex was invited to a photoshoot for Fiverr and then told she was invited to this new program The minimum rates would be four times what she was currently selling Keep in mind that there's no pro membership or risk to Alex Eventually, she was making over $300k per year and money was piling up We then discuss what Alex plans to do with all that money Then we discuss the drawbacks like all the sitting, bad backs, and carpel tunnel While the business is crazy successful for Alex, it isn't really possible to scale further Currently, Fiverr doesn't have a team version but it may be in the future Alex isn't ready to leave Fiverr anytime soon because they bring her so many clients Even though they take 20% of the profits, she doesn't believe she could find the number of gigs We then talk about some of her biggest or craziest deals including the royal family She's also starting other side hustles like converting horse trailers into mobile bars and ebooks
Key Takeaways
Brace yourself for change: It was awesome to see how well Alex did with the change that happened when she found herself in a job she hated. We have to be ready for what life hands us and make the most of it. Income can be exponential: Much like investments, income can also grow exponentially as you build a reputation Online doesn't mean easy: We often romanticize working online but it's obvious Alex has put in countless hours to build her dream. Don't expect easy money to just fall in the sky
Call to Action
Go browse Fiverr and look for inspiration to start selling your own gig!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Contact Alex:
Via her blog and grab her book
Catch her on Facebook
Follow her Instagram
In our Facebook group!
In today's episode, Cody and Justin are joined by Chad Methner from Little Brother Life Coach.
Chad really wants to encourage people how to reach FI even if they're nowhere near a six-figure salary.
We discuss his battles during the recession, finding himself in a job he hated, and how he came through it all. You'll catch Chad now helping others through coaching and setting up local meetups.
It's a unique angle so go listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
Chad first discovered financial importance from a Dave Ramsey book he stumbled across The parts about debt pay off really hit Chad He's still $20k in debt from college After high school, he just did some manual labor while he tried to figure out what to do for college He got half off tuition thanks to his dad's job at Ohio State After college, he couldn't land a job because it was 2009 and the recession was in full swing He didn't rack up any debt from college until he got his masters in 2015 While the job he had did some tuition reimbursement, it still cost him $25k in debt That along with a car and some other loans left him with over $40k worth of debt He continues at this job making under $11 per hour After he got his masters he went to try and get a promotion Unfortunately, they didn't give him any options After six years there he had maxed out at $13.25 an hour and decided to leave He landed a new job and almost doubled his income to just under $50k and in a role where he was more comfortable We asked why he staid at that first job so long unhappy and underpaid For Chad, it was just comfortable and easy but he finally had enough The discussion swapped to how he saves money on this lower-income The biggest thing for him was cooking at home It turned into a full-blown hobby instead of just a money saver He plans to be out of debt in 3-5 years His big goal is to retire before age 55 and hit that $1M mark Chad is also trying to build up side hustles including coaching and writing a book Then we discuss the "poverty-tax" and the importance of an emergency fund
Key Takeaways
Everyone can benefit from this journey: Chad began this journey on as little as $10.75 per hour and it's changed his life. Your velocity may be different but the impact is still extremely meaningful. We can always help: Although Chad is still working through his debt payoff, he still has a lot to teach other low-income individuals chasing FI. Don't settle for misery: Chad obviously stayed at his first job too long. After 6 years he was still underpaid and forced into positions he hated. Regardless of pay, working in a job you hate is never worth it.
Call to Action
Start planning some frugal activities and trips. Maybe even take a look at activities you currently do and find a frugal alternative.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Contact Chad:
Via his blog Little Brother Life Coach
Catch him on Twitter
In our Facebook group!
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by the incredible duo of Kristy and Bryce from Millennial Revolution.
Their story is so inspiring. They start at the most traditional lifestyle route of a professional career and seeking homeownership. Then one day they realize the housing costs are simply out of control and they'd rather retire instead.
Three years later they quit their jobs and have been traveling year-round since then. They're keeping busy though with projects like their new book Quit Like a Millionaire.
This will certainly be one of the most entertaining episodes we've had to date so go listen now.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
Bryce wasn’t focused on saving money in college...beer took priority When they graduated they were just solely focused on saving for a home They lived in a modest apartment while chasing a home The house prices kept outpacing the housing Before they could find a home, they realized they’d saved $500k Then Bryce came up with the idea to ditch the house idea and retire instead Kristy saw the value in this after seeing a coworker collapse from stress They hit a million at the age of 31 We then dig into how they actually got the $500k in the first place Kristy credits the scarcity mindset she got from being raised in poverty in China They moved to a cheaper apartment, used public transportation, and reigned in their eating out splurges They weren’t naturally frugal at the start with Bryce dropping hundreds on booze and Kristy collecting high-end purses. Kristy even got into unboxing videos for these purses Bryce then starts discussing the differences between how he and Kristy see things Kristy is much better at being frugal but was much less comfortable getting started with investing They really fill in each other's gaps to make the perfect financial independence duo Kristy said what helped get comfortable with investing was understanding how much she'd lose to inflation in savings accounts Then Bryce starts covering their investment strategy and how they navigated the 2008 recession That strategy is a big cornerstone of their book which seeks to show how to handle every rough situation you may encounter Kristy covers how they started out with salaries in the $60k range but would get several raises along the way Their savings rates began around 50% and would get up to 72% before retiring Kristy then covers how to use a number centered approach to choosing your major in college Bryce and Kristy then start covering all the work they're doing now in retirement with the book and blog They credit being in a position where the focus didn't need to be money as their key to side hustle success Kristy then starts telling the backstory to how her video about millennials and money went viral At this point, we shift gears to understanding how they continue to travel the world year-round for under $40k per year They prefer Air BnB over a hotel for the kitchen and laundry access Then they discuss how they build a schedule when constantly traveling and some of the bumps to expect along the way Currently, they're staying in a location a little over a month but plan to start rotating between locations quarterly Those three-month stints will allow them to build real lasting relationships
Key Takeaways
Create your own trend: It was amazing to see them realize that they didn't just have to follow the path everyone else was following. Why buy a house if that house was going to anchor you to a job for decades. Handling the worst: Too often we only tell success stories and don't give enough focus on preparing for non-ideal scenarios. Kristy and Bryce nail this topic. Millennials are misunderstood: Millennials aren't pampered or lazy. They just consistently choose to follow lifestyles that their pa...
In today's episode, Cody and Justin are joined by the magnificent Military Dollar.
Justin really had a blast getting to vent the military money misunderstandings with someone who could relate.
Everything gets covered here. Military housing, insurance, investing and of course retirement.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
When she was in college she didn't have a lot of money Her parents were also draining on her finances some in college It was clear to her that she needed to get her finances together and started tackling finance books She ended up commissioning as an Air Force officer through the ROTC program She also got a scholarship but because it was a private school, it didn't cover everything When she graduated she had $20k in student debt, credit card debt and a car payment Both of her parents are entrepreneurs but aren't very good with money Upon graduation she got a new car and had a total of $42k in debt After four years in the military she was debt free Her degree was in political science but she ended up in a very different career field Now she's making great headway towards financial independence She loves her job and never wants to work for pay after she retires Then we discuss the flaw with just choosing a job you love We then discuss why it can be beneficial to live in a high cost of living city Mil dollar then starts breaking down exactly what she makes in the Air Force Justin and Mil dollar then break down common money mistakes military make The big ones include housing and comparing military to civilian pay Then we unravel the military 401k also known as the Thrift Savings Plan (TSP) This includes some big changes coming to the TSP this year! Now the moment you've been waiting for...retirement We go over both the traditional retirement and the new blended retirement system Military Dollar finished the episode with how she plans to travel the world with free flights in retirement
Key Takeaways
Military is a really solid FI path: Unfortunately people think the military is something people do because they didn't have any options. In reality it's full of some of the smartest people you'll ever meet and certainly one of the most sure fire ways to retire between 38-43. People will find an excuse: Military members often spend all of there housing allowance on a house even if they could get by just find spending a third. The mentality doesn't make any sense but it's an easy excuse for sure. FI lifestyle possibilities are endless: During the wild card question, Mil Dollar talks about this magical retirement community. That's the beauty is you can do whatever you want and there's no reason to live a cookie cutter life you don't want.
Call to Action
If you know someone in the military or considering the military please share this episode with them.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Contact Military Dollar:
Via her blog Military Dollar
Catch her on Twitter
Join her Facebook group
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by Kim from The Frugal Engineers.
Kim started nowhere near engineering and with no financial goals.
A math professor and an intro to Dave Ramsey would turn her life and career choice completely around.
Kim would eventually build a side hustle that would become her full-time job.
That side hustle brought in more money than she ever made in traditional employment, allowed her to stay at home with her child, and even let her husband reduce to part-time work.
Now both Kim and her husband are self-employed and working for joy instead of stressing about finances.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
Kim took a gap year after her junior year of college to work at Disney world She had been living off scholarships and didn’t really have to worry about income During that gap year, the scholarships ended She bought a car and racked up $10k in credit card debt The main culprit was a guy she was dating who was already in a corporate job She kept trying to keep up with his spending along with the travel and eating out Kim ended up graduating with an engineering degree Engineering wasn’t on her radar until a math professor pushed her that way Her financial turnaround came after a friend introduced her to Dave Ramsey While she always understood the math she didn’t have a grasp on the psychological side From there she made a plan that included never taking on debt again In grad school, she’d meet her future husband who took her on a date to dollar tree Kim made a vow to pay off all her debt before they would get married It was on their debt payoff celebration that he proposed Then we dig into how she graduated from just Dave Ramsey teachings Now that she’s comfortable with credit cards, she fully embraces travel rewards Fast forward and they have a child and are just discovering the FIRE community After some quick math, they realized at age 29 they were only 6 years from retirement That plan was if nothing changed but Kim wanted to work from home Kim dual-hatted a side hustle with her job She built that up so much that she now works from home and reduce childcare costs After just two years she was making much more than her traditional work Inspired by Kim’s transition her husband started working for himself as a consultant Kim’s side job was hard to juggle with being a new mom at first After calculating things, they realized it was more profitable for her husband to go part-time and free up time for her and greatly increased their work-life balance Once they were completely location-agnostic they decided to leave Florida They tried Oregon for a while but it was too expensive Starting this year they started the journey of finding a place to put down roots They tried Tennessee, Alaska, Nevada but ultimately settled on Wyoming Wyoming has great tax benefits and access to skiing for their daughter Now the next thing they needed to tackle health insurance They tried standard heathlcare.gov plan with a high deductible Then they tried a health share program through Liberty These plans are interesting because they can be more selective of who they cover It was $450 per month for a family of three Kim would have to pay upfront for the bills and then file for reimbursement They struggled with timelines on reimbursement and lack of understanding from doctors After 6 months they went back to a standard plan that was over $900 per month Currently, they’re on a “short-term” health insurance plan It’s only $230 per month but comes with a high deductible and no HSA Then we shift to discussing the detailed steps of finding your FIRE home They made spreadsheets that would mimic their spending in a specific city They visited playgrounds, realtors, and the Wal-Mart Test
In today's episode, Cody and Justin are joined by Chris Mamula who is about to release his new Choose FI book.
Chris has a great and relatable story that we really think everyone could follow.
His story was also met with a lot of the same mental struggles we all face on this journey.
Chris and his family are now financially independent in Utah.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
Chris and his wife have always been financially aware He was able to get through college debt-free His wife started working a year prior to him but she was carrying $20k in student debt Chris got his masters in physical therapy while his wife focused on math and operations research When they graduated Chris and his wife were both making in the mid 30k range They eventually got their income up to the 80-90k range each From the start, they were saving ~50% of their income Making a move to a rural city would eventually really increase their income Interesting note that medical professionals can often earn more in small markets Chris did end up utilizing a financial advisor that was really taking advantage of him with fees They would go on to pay their house off in seven years and really start investing In 2012 they discovered they were going to have a child after not thinking it was possible Chris admits that he was a touch depressed at the idea of having a child It just seemed like all their financial plans were going to fall apart But just a few months later, he was all in after seeing that sonogram Around this time he discovers FIRE and starts really getting smart on investing He decided to start handling his own investments and how to restructure his $400k nest egg You can check out Chris’ full portfolio at his blog Can I Retire Yet That strategy has obviously worked as they got to retire a year ago Then Chris discusses how they would decide where to live in retirement They ended up landing at Ogden, Utah (skiing was big criteria) In reality, his wife was offered a remote job that allowed them to keep insurance with few hours and Chris got a book idea Chris had no idea what writing a book would entail but knew he wanted to do a series of interviews Being able to tie all those chapters into a cohesive story turned out to be a challenge The biggest thing he learned in the writing process was that designing a life you want is much more important than actually retiring He also calls out what a difference it can make to turn saving money into a fun competition versus it feeling like a chore Chris isn’t sure he’ll ever actually stop putting in work but certainly isn’t worried about pay Then we transition the discussion on how Chris is raising his young child in regards to money and educational path
Key Takeaways
Saving fixes all: They didn't make a ton of money, they got cheated by advisors, they had a kid...but they retired early Mental is tougher than money: Several examples were covered about psychology and those mental hurdles are so much tougher than an equation Relief not retired: The main focus should be on building a life you love not simply retiring because that's where the happiness really comes from
Call to Action
Chris has such a love for the outdoors and so do we. This week we just want you to lower the stress and back away from the computer and get outside.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Learn More About Chris!
In today's episode, Cody and Justin are joined by Zeona McIntyre who is an absolute boss with Air BnB rentals.
Her story starts by getting a degree she'd never use and $50k in student debt.
Fast forward to 2011 and a roommates exit opened her eyes to the possibility of Air BnB.
Today she owns six homes and manages over 20 more that are all making huge profits on Air BnB.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary
She grew up in a family that wasn’t good with money and included moments on food stamps
Finance was always an interest to her and she started digging deeper into studying it around 18
She actually grew up in Maui
There was always a deep interest with her in entrepreneurship and hustling
Her dad didn’t believe in college but she ended up going even though she admits she didn’t use her degree and a lot of people go into debt for it with no benefit
When she graduated she came out with $50k in debt after getting a fashion marketing associates degree in Los Angeles
She realized her degree was pointing her towards a corporate environment that wasn’t appealing to her
After college she bounced around fun jobs like being a tour guide
She was able to save money even with these fun jobs
With the tour guide jobs, they were living on the road so she didn’t have housing costs
During this time she was trying to pay student debt but only the minimum
After 10 years she realized she had barely lowered her student debt at all because of interest
She moved to Boulder in 2011 to become a massage therapist and discovered Air BnB
Because she already had experience with Couch Surfing, it felt comfortable to her
She had a two bedroom apartment she was renting but had furnished it all herself
After a roommate left, she decided to just Air BnB out the extra room
It wasn’t steadily rented, but enough to cover the rent
After it started being successful, she rented another apartment
Yes, she was renting two, two bedroom apartments for Air BnB!
At a point she started cleaning the places herself which allowed her to quit her $12/hour job
We talk about how to give your Air BnB a unique touch to make it more desirable
She feels like Air BnB is way more interesting and profitable than long term rentals
Her first real introduction to financial independence also came in 2011 via Mr. Money Mustache
She was 25 and wanted to retire by 30
When she started the focus was just on the large nest egg
It eventually pivoted to a cash flow mindset when she saw the success of Air BnB
She became cash flow FI at age 28 and began buying homes
Now she owns 6 homes and manages over 20 properties at age 33
It’s important to remember that anyone can try this
All you need is a couch or a backyard with a tent to get started
Remember though things like towels and sheets!
Then we talk about managing other people’s Air BnB vs posting your own place
Rates range from 20-40% (Much higher than long term rentals)
Key Takeaways
Weird Works: Who would ever think to rent a second apartment just to put on Air BnB? It sounds weird but it's high profit and low risk! Build Habits: Zeona didn't have much money at first but she started good habits even if it was just $50. That allowed her to handle her money when she actually had a lot of excess coming in. Mix Business and Pleasure: Zeona has found a way to travel and support her business. By owning Air BnB's across the country, she can visit them to check up and get a vacation at the same time.
Call to Action
Look around your house or maybe a family members house and if you have a room or space that goes unused, pop it on Air BnB. Just get started!
Join the Community
In today's episode, Cody and Justin take you on a behind the scenes tour of their monthly budgets.
For some context, Cody is 23 and moving to Boston in September and Justin is 29 living in Boston with his girlfriend. Neither of them has kids.
It's also important to note that despite their low monthly expenses, Justin and Cody do not feel deprived whatsoever. They're both enjoying life to the fullest.
Ready to nerd out on some numbers? Let's dive in. Housing Justin - Currently paying $837 per person in Boston for a 2BR apartment.
Cody - Paying $600 to share a room in Boston in a 3BR apartment with three roommates.
Both Justin and Cody do an extensive amount of research before committing to a housing arrangement. Transportation Cody - Spends approximately $225 per month for gas and maintenance on his paid-off Nissan Frontier.
Justin - A whopping $110 per month despite owning both a car and a truck... in a big city!
The absence of a car payment or lease drastically reduces the cost of transportation each month. Food Justin - Spends $60 per month on groceries and ~$100 on all other food-related items (including alcohol) for a total of $160.
Cody - Grocery expenses are typically around $110 and eating out / alcohol come in at about $190 for a total of $300.
Justin and Cody are able to keep their food costs down by buying only primarily on-sale lean meat and vegetables and cooking 90%+ of the time. Entertainment/Travel Cody - Total monthly expenditure is around $400 per month.
Justin - Spends about $300 per month in this category.
Both Cody and Justin agree that experiences are 10x more valuable than material possessions. That's why they allocate a fairly large portion of their budget toward this category!
They also take advantage of credit card rewards to gain free flights and airport perks. Miscellaneous Although it was hard to pin down exact numbers, Justin and Cody do have a miscellaneous category.
Basically, anything that doesn't fit into the four categories above makes it into this one.
Recently, Cody and Justin have started to focus more on quality instead of just buying the cheapest option possible. Key Takeaways
Keep the big expenses low: Since Cody and Justin keep housing, transportation, and food low, they have a lot more flexibility when it comes to the fun categories (a.k.a. entertainment and miscellaneous) Do the extra research: One of the reasons why Justin and Cody are able to keep their monthly expenses low is because they are willing to put in a little bit of extra work to find a deal. Income Matters: Both hosts understand that saving isn't everything. If you're having trouble saving because your income is simply too low, consider starting a side hustle or figuring out ways to move up in your current role.
Calls to Action Justin: Do you remember what you ate for lunch last Tuesday? Probably not. Figure out what other "Tuesday lunches" you have in your life and cut those out as much as possible.
Cody: Lifestyle inflation is one of the sneakiest enemies of financial independence. Start experimenting for a week (or more) at a time and cut different things out of your budget. If you don't miss it, don't add it back in! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Contact Us:
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by Bobbi Rebell from the Financial Grownup Podcast and author of How to Be a Financial Grownup.
She has a really interesting beginning from the ground floor and working her way up to multiple large media outlets and building a career on camera.
Bobbi eventually saw an opportunity to step away and become her own boss which would end up being both a great financial choice and a great choice for her family.
Come listen to where she finds her inspiration and the tangible steps she took to building both a successful corporate career and a business.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Her dad was a Wall Street guy who would give the kids an opportunity to plan out their total expenses for a semester and they would make their request and that'd be there only chance to ask for money. (pretty awesome parenting exercise) She admits she had a lot of fortunate events and circumstances in her life but she also has had a great work ethic and paid her dues along the way Bobbi's working career started with working at a bakery, wrapping presents and folding clothes before her unpaid internship at CNBC She would come in during the middle of the night because people were a lot more likely to allow her to help and actually build a resume When she graduated college she didn't have any student debt which she credits to her granddad starting the trend of putting money back for her own parents' college Bobbi actually bought her studio apartment straight out of college at 23 in New York City and would end up flipping a couple of properties which lead to her nicer, larger apartment she owns today in NYC That first studio was only $90k which she bought during some down years in NY real estate
Her friend actually got a similar apartment for under $70k!
While she was making some big financial moves and making great progress, she wasn't without fault
She bought a $3k chair with a home equity loan but she obviously rebounded
Her career would quickly take off and she attributes it to always doing a little more than is expected and always adding skills She actually got her CFP from NYU thanks to some of the training her job paid for During her career, she became close with the likes of Tony Robbins and anchored shows at PBS and Reuters There were a couple of transitions obviously in that career and she details advice on loyalty to people vs businesses and how to handle transitions One day on a walk she decided to start a brand and write a book to help young people become financially responsible grown-ups Through the process, she was transparent with her company about her eventual transition The transition was a big one as she had three kids and a lot of groundwork to build for her business but she took a thorough approach over a three year period A big tip she gave us was to see if your company offers buy-outs for your job before you simply quit
After agreeing to a slight delay in leaving, she did get a pretty nice buyout
We then jump into some rituals and habits that keep her motivated and to help avoid burnout with such a high energy personality After making her transition, she realized that it really wouldn't take that much money on the side to make it a smart decision because of how expensive it was to work and raise children
With this entrepreneur ventures, she doesn't pay for childcare and she can write off a decent amount of things as business expenses
While she felt comfortable that she'd be able to make enough money on the side, she was surprised at what ended up being the most profitable Her favorite and most profitable part of her work is doing sponsored content for different brands On top of that, she MCs events, wrote a book, has two podcasts.... and more!
In today's episode, Cody and Justin are joined by Diego Corzo from House Hacking Club.
His story is incredible and highlights why so many view America as the land of opportunity.
Diego didn't even know he was undocumented until he attempts to get a drivers license. He faced a ton of obstacles but never stopped trying.
Some luck and hard work meant he ended up qualifying for the Defense Action on Childhood Arrivals and DREAMER acts.
Now Diego is living a successful life, spreading his story through places like TED talks...and yes paying a healthy sum of taxes.
So go take a listen, leave that 5-star review and give us some feedback! Episode Summary
Diego's family came to the United States on a VISA but it lapsed and left Diego here undocumented as a child He didn't even realize it until he started trying to apply for a drivers license and didn't have all the necessary paperwork He hits more roadblocks when he looks to college Eventually, he would get into Florida State University He could make money to help pay for college by building and selling study guides to fellow students or building websites Things seemed to be going Diego's way until he realized he couldn't actually work for anyone in his current status Then came the DACA and DREAMER programs under the Obama administration This gave Diego a chance to work and be as successful as any other kid raised in America He wasn't satisfied with the status quo though Diego came across the Book: Rich Dad, Poor Dad and it changed his whole view on life From then on, he knew his focus was to have assets and make his money work for him and not the other way This led to the first of many house hacks and his entry into real estate He actually bought his first home at age 23 After three years he quit his full-time job as a software developer and now owns a plethora of properties Diego is now a Realtor in Austin, TX and continues to grow his rental property empire
Key Takeaways
Someone has it worse: This one just jumped out at me. I always think about how life was different if I had a better start and then you see people who started so far behind those who we'd consider at the back. But he still succeeded. Headlines are people: Man, when we see talking heads on TV, regardless of what side you're on, it's so easy to forget that things are complicated and that these are real people who are impacted greatly by the decisions and laws we're considering. Your message is important: If I was Diego, I'd be terrified to tell my story from worrying about what might happen to my family but he realized he could inspire so many people. It's not even about having a great story. Your story will be more relatable to some person than any other story they could hear. So tell it.
Call to Action
Imagine a young Diego scenario. No one can hire you but you need a job. What skills can take advantage of, what creative money making opportunities are you prepared for in case someone else isn't around to hire you.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Learn More About Diego!
House Hacking Club
More in-depth look at Diego
Diego's TED Talk
Contact Diego:
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by Rob and Melissa from Flea Market Flipper.
You can just hear the passion jumping out of their voices and it's easy to see why when they show how they make $100k+ working only 25-30 hours a week flipping items.
Throw away assumptions like long hours spent shipping or fixing junk just to make $5. This is a truly impressive system they've built.
They also love educating and are offering all the FI Show listeners a free guide to selling on eBay!
So go take a listen, leave that 5-star review and give us some feedback! Episode Summary
Rob is the laid back one of the group and Melissa is the one who is the more money focused one From the start of their relationship they always used flips to earn money In the beginning, they would just use it for vacations and cars but not employment Rob saw his parents flipping items and just fell in their tracks When Rob sees an item he can just quickly research the item on eBay and also give you a ready to use post so you don’t have to do much effort at all After their third child was born four years ago they turned this to a full-time job They don’t see any advantages they have to anyone recreating their exact same business They’ve even started coaching people around the country The style of flipping they do and coach is revolved around doing a smaller amount of flip with much larger returns instead of focusing on quantity Commercial equipment is often something that can be had really cheap but sold at a big premium When you check out their blog and reports you’ll see that they’ll sell and ship anything The only thing they typically won’t mess with is anything following much below $100 profit They source most of their items locally through things like Offer up, craigslist, or Facebook marketplace but sell almost exclusively on eBay Sometimes they’ll do some touch-ups or small fixes but for the most part, they don’t do any work to the items which are different than when you’d flip a house Rob started flipping out of a convertible mustang but over time he upgraded to storage units, a truck, trailer, etc. He stresses that you should just stick to what you have until you start making money off the flips On only 108 sells on eBay they made over $80k for the year which means they don’t have to spend a ton of time shipping items Then we get into talking about a flip challenge they have going on We’ve all heard of crazy stories/rumors of someone turning a rubber band into a car but this is real and is well documented This challenge has them taking an item and turn it into a rental house within a year and they’re on track! It all started with a free chair from the trash They stress that they try to teach what they can on taxes for these types of sales but note that they differ state to state so check your local laws They do note that in this business you can see irregular income but they combat this by keeping recurring cost low because they pay for everything in full upfront They’re currently not focusing on stock market investing because they’re really comfortable with real estate and already have two rental properties and are hoping for 10 over the next 7-10 years They’re so excited about sharing their skills with everyone through the flipper university and also some free exclusive content for FI Show listeners!
Key Takeaways
Money is Everywhere: Just another reason why quitting a job doesn't mean you can't make money somewhere, somehow if you need to Imitate then Improve: Rob and Melissa didn't create a new industry. Selling used stuff is as old as they come but they're doing it better than just about anyone and have built an impressive and repeatable process Family First: It's so awesome seeing Rob and Melissa get their kids involved in the flipping and to see how this style of work allows for so much quality time with their kids instead of locke...
In today’s episode, Cody and Justin are joined by a third co-host! J from FIRE Drill Podcast / Millennial Boss.
The three discuss their experiences with side hustling and also talk about the new Side Hustle Courses that Cody and Julie (J) are launching.
There are also testimonials from several side hustlers who just recently took the course and are starting to earn real money online.
Whether you want to become a digital nomad, build an online empire, or just earn some additional income outside of your day job, we've got you covered.
Join us in this episode and learn why side hustling is right for everyone! What Are These Side Hustle Courses All About? Well, there are three separate tracks:
Blogging For Profit - Everything you need to know about how to start a profitable blog from Day 1. The course covers website setup, content creation, monetization, outsourcing, and everything in between. Etsy Printables - Learn how to open your Etsy shop, create your first listing, optimize your digital products, and market them like a pro in this course. We walk you through everything you need to know step by step. Freelance Toolkit - Do you want to earn money on your own time in a matter of weeks? Whether you have no existing skills or a few talents, we show you exactly how you can make money freelancing and get paid the most for your time.
Between the three courses, we spent thousands of hours building out the lessons which include 250+ videos, text lectures, worksheets, templates and more!
Here are some of the highlights:
Info-packed modules with text and video lectures Bonus lessons, free templates, and interviews with industry experts Weekly assignments and printable lesson plans to keep you on track Free month in the VIP Facebook group for accountability & community Advanced modules to take your side hustle to the next level
Key Takeaways
Side Hustling is mutually beneficial: When many people think of "making money online", they envision some scammy internet marketing scheme. However, there are tons of ways you can earn money online where you deliver value to your customer/client and get paid for it. Not everyone is a natural: You don't have to a Type-A rockstar or creative genius to start a side hustle. Anyone can acquire the skills to make a little bit of income outside of the traditional day job. Added layer of financial security: Every incremental dollar that you earn with your side hustle brings you one step closer to financial freedom. Even a few hundred dollars a month can go a long way over time.
Call to Action Determine what side hustle might be right for you and take action. If you need additional inspiration, check out the Gold City Ventures Side Hustle Courses! Featured Guests Julie - Co-Founder of the Gold City Venture Side Hustle Courses, Etsy Printables Expert, Host of the FIRE Drill Podcast, and blogger at Millennial Boss.
James Lowery - Co-Founder of Rethink the Rat Race and real estate investor.
Nicole - Owner of The Printable Fairy Etsy Shop.
Nick Monfreda - Aspiring freelancer and golf enthusiast.
Jessie Bui - Owner of Jessie Bui Fitness: Instagram, Facebook, Email.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin are joined by James and Emily from Rethink the Rat Race who have one of the quickest journeys to financial independence you'll ever find.
Living in Huntsville, Alabama they find themselves in one of the best real estate markets in the country for rental properties. They took that opportunity and ran with it.
In 2017 they bought their first rental property and two years later they hit their 11th property and are now ready to retire this summer!
Cody and Justin are both great friends with this duo and this is definitely a can't-miss episode.
So go take a listen, leave that 5-star review and give us some feedback! Episode Summary
James and Emily both had frugal backgrounds with James especially being on the really low end of the income spectrum They met at a local community college and James got his college mostly paid for through financial aid James ended up changing his major 4 times before eventually acquiring an associates degree Emily wasn’t eligible for financial aid due to her Dad’s income but her parents did pay for her first two years She ended up being able to pay off the final two years herself so they both graduated debt free Emily would take a job starting at $60k and James was at $35k per year in Huntsville, Alabama Even though they were in an affordable area with $95k of incomes, they weren’t saving a dime They said they were happy with there life but weren’t spending money intentionally but looking back they can see that they’re so much happier with their life now James was at work one day and someone said they came across a website that had changed their lives which turned out to be Mr. Money Mustache James immediately went all in and came home adjusting water heaters and laying down all these things they were going to cut from their lives...probably too aggressively he’ll admit This was 2016 when they discovered this idea of financial independence They estimate they cut their expenses down to $35k the next year after discovering the topic and have since cut it to closer to $12k Emily discusses how changing lifestyles can affect friend groups and social connections After cutting their expenses down as low as they could they looked to accelerate their path even more through real estate investing We go over their processes in finding properties and getting them ready to rent You’ll get a taste of James fantastic knack for negotiating They bought their first property in Summer of 2017 and have since hit 11 properties Most of these units were had for under $50k and all of them bring in over 1% of the cost back via rent
Example: $50k house that brings in $500 is bringing in 1% every month
All of the homes were bought using traditional mortgages Now they have enough money cash flowing every month to cover over 2x their expenses This has accelerated their path so fast that they’re now looking to retire in September
That’s a 2-year path to financial independence!
On top of real estate, they’re also maxing out one 401k and both IRAs Emily’s family owns a home in Cyprus that they plan on moving into this summer and doing some remodeling.
Emily already has her EU citizenship and James is applying
They’re not 100% sure what long term future looks like but they’ll probably pick up some side hustles in Cyprus to stay busy and travel all over Europe
Key Takeaways
Everyone has advantages: Some people might not realize living in Huntsville, Alabama is a huge advantage for financial independence but James and Emily realized this advantage and maximized it Leverage is crazy powerful: James and Emily aren't these crazy high-income earners but they now own 11 rental units in 2 years. That's all possible thanks to the leverage you get through mortgages Not Knowing is Ok: James and Emily don't have the rest of their lives mapped out. But what 28 year old does?
In today's episode, Cody and Justin are joined by the insurance guru from Simply Insurance, Sa El.
Sa El got started after a tragedy in the family and is now trying to make sure that never has to happen to anyone else.
In this episode, we cover every type of personal insurance: Health, Life, Renters, etc
You won't want to miss this episode so go take a listen, leave that 5-star review and give us some feedback! Episode Summary
His journey went towards insurance because at age 20 his grandmother passed away from ovarian cancer and didn’t have any life insurance He realized how many people didn’t understand insurance at all Actually becoming certified was pretty simple
He passed a test after a week of studying Got appointed to an insurance company
Health insurance, disability insurance, dental insurance, and life insurance are the types he lists as the most important to focus on He actually calls disability insurance “paycheck” insurance That’s because it’s not just for disabilities, it’s also for simple sickness
Most of these don’t kick in until you’re out of work for 60-90 days
Dental is so important because so many other illnesses are related to dental health plus poor looking teeth can impact your career For health insurance, he really recommends a high deductible plan Early retirees who are living on low amounts like $30k per year could take advantage of some of those subsidies that low-income individuals use even if you have a high net worth We jump into some overarching topics that are problems with our health insurance system in the United States and things on the horizon to give us more transparency For car insurance, he recommends shopping around for rates every six months and highly recommends USAA and travelers insurance
Also, watch out for double paying for things like a credit card that covers roadside assistance and also paying for it through auto insurance
Then we switch gears to Life Insurance He’s very adamant that people pursuing financial independence should only consider term and never whole life insurance
Whole life is too expensive!
Then we talk about a type of life insurance that was new to us called “Return of premium” life insurance
It is term life insurance but if you live past the term you get the premiums back! He calls it a savings account with free life insurance
If you’re going term, he recommends getting a 30-year term and shoots for 20 times your income for a coverage amount
So if you earn $50k, get $1M
Also, look out for online products that don’t require an exam such as Bestow
No exam doesn’t mean "no checking" so don’t lie on your forms!
Then we cover an interesting topic of paying for your parent’s life insurance and becoming the Owner/Payer/Beneficiary of the policy Then we jump into renter’s insurance and the importance of reading all of your insurance fine print
DON’T CALL THEM UNTIL YOU DO READ EVERYTHING
Don’t forget, life insurance isn’t for you!
Key Takeaways
We all have something to learn: In this episode, we heard of so many new uses and types of insurance Life insurance isn't for you: Don't get confused about the purpose of life insurance and don't mix it with an investment Be the expert: If you want to make certain that you're getting the most out of your insurance and not left stuck with a bill, do the research and understand the ins and outs of your policy
Call to Action
Go read that boring fine print on your insurance products so you know exactly what your coverage is for!
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
In today's episode, Cody and Justin are joined by Justin's old FinCon roomie, Travis from Student Loan Planner.
Travis tried his hand with Ph.D. education...hated it
Then he tried selling bonds at investing giant Vanguard...yep hated that too
So he got serious about his money and saved up a low six-figure cushion to travel the world. So how does a nomad create a business that has now consulted on over $500M in student loan debt? Well to win his wife's hand in marriage obviously.
You won't want to miss this episode so go take a listen, leave that 5-star review and give us some feedback! Episode Summary
His first investment was as a kid by investing in coal through the help of his granddad That investment ended up actually almost doubling which his granddad worried was actually a bad beginner lesson Travis’ granddad was a big role model and great depression survivor who instilled a lot of frugality in him When he was 18 he stacked so many scholarships that he ends up getting paid to go to college and banked about $7k after all expenses He ended up with about $40k positive net worth upon graduation Then he thought he would go and become a Ph.D. economist but quickly realized that wasn’t for him So then he ends up working at Vanguard trading bonds, but he also didn’t feel happy in the corporate world Then he discovers Mr. Money Mustache and focused on having a 60% savings rate and saved up low 6-figure mark Somehow we also got a one-eyed rapper reference in here… Travis took fall out money and a need for escape then books a flight to Iceland for $99 and ends up spending a year on the road across 40 countries During this same time, he met his would-be wife who had a traditional job and a large chunk of student debt When he asked her dad for permission to marry her, he declined Travis because he didn’t have a job even though he had a positive net worth Travis thought he’d take on this topic of student debt and focus on consulting with people who owned several hundred thousand dollars Since that time his consulting business has boomed and they’ve consulted on over $500M in student loans He feels like if you really hate your job then get to that $50k mark if your young with no kids and just take the leap of doing something else and try to start a business knowing you have a cushion to fall on Travis states that the two sectors of student debt that’s exploding are the people who owe over $200k and senior citizens The number of people with these huge debts is doubling about every 3 years Then we dig into the different student loan forgiveness programs such as the ones available to those who are government employees vs public sector employees For some people, it makes a lot of sense to avoid paying off student loans quickly because they’ll be forgiven We then jump into the problems with government-backed student loans and tuition rates that are being driven by the greed of many colleges For instance, the pharmacy acceptance rate has gone up from ~35% to ~83% over the last 15 years which is driving down pay and allowing colleges to keep charging whatever they want We also cover protections against being stuck with student debt if you become disabled or protection for your family if you die so they’re not stuck with it Travis then gives us the rundown on re-financing which he said a good deal would be to save an additional 2% While his business focuses almost exclusively on paying down debt, they also will sometimes take on some pre-debt counseling to avoid being bogged down in the first place but even then it’s generally just Grad school. Travis rounds us out with his final tips and a great story of being study not being able to get through customs in Jordan and other interesting situations he found himself while traveling
Key Takeaways
Don't Settle: Travis wasn't happy but he kept switching it up and planning for ways out.
In today's episode, Cody and Justin are joined by the prolific Jim Dahle from the White Coat Investor. Jim came full circle from a middle-class Alaskan upbringing all the way to a successful physician with a blog that makes over $1M per year!
So how did he get there...
Well, that's what the episode is for so go take a listen, leave that 5-star review and give us some feedback! Episode Summary
He feels like he made all the same mistakes you’ve heard everyone makes but he did so with small amounts of money and he did so early After years of feeling like he was getting ripped off, he started reading through finance books at a used book store and was hooked Then he started getting heavily involved with online forums He also realized no one was doing this kind of education for doctors so he started White coat investor in 2011 He was a resident at age 29 and making around $37k per year His first investment ever was $500 into options at age 10 that he got from a fund provided to Alaskan residents and lost every bit His mom didn’t go to college but his dad was an engineer They felt like they were middle-class where they didn’t go hungry or anything but after age 18 he was on his own When he started college he took out a $5k loan for his freshman year but he used that for housing and got scholarships for tuition and would work the rest of the time for expenses He got married at the end of his undergraduate degree but realized he wasn’t going to really be able to provide at the rate he was at His wife’s family had a heavy military background so he decided to join the military to pay for his graduate degree in return for four years of active duty but he was able to enter active duty as a captain. He would make Major just before getting out His four-year obligation started at age 31 and would end at age 35 While he was on most of the same base pay as other officers he actually made more through incentives which totaled over $36k more per year! If he would have stayed longer, he could have even had more bonuses but it still wasn’t near what he’d make on the outside Now back to his forum legacy...He had a prolific amount of posts (10k+) over the course of 7 years with a special focus on physicians and military His blog, starting in 2011, was actually at almost the exact same time as Mr. Money Mustache The goal that started the blog was to make money and to help people get a fair shake on Wall Street To stand up his blog he just taught himself how to build the website from the ground up Then we transition into the mindset of high income earners such as Doctors He goes through a few reasons why you find broke physicians
They’re often financially illiterate They go from no money to too much money overnight Expectations from coworkers, patients, and family that they should live rich Huge student loan sums ($400k+) No real work until ~31 years old
He gives us some rules of thumb to help avoid some of these pitfalls The first is trying to stay under 1x for college debt
1 times your eventual income. Ex: Eventual income $250k = up to $250k loans are doable but strive for lower obviously
The second is understanding what your potential payments will be based on specialty because the pay can be very different but the school is often the same With that being said, don’t burn yourself out because then you probably shortened your career length Then we get deep off into taxes The first step is just flat out understanding your taxes. You can do this by getting more involved in doing your taxes instead of just offloading it each year. He calls out how most of these high-income earners aren’t familiar with some retirement accounts such as profit-sharing plans, individual 401ks, defined benefit plan, health savings accounts, and back door Roth IRAs For Health Savings Accounts employers actually help you out with the contributions...
In today's episode, Cody and Justin are joined by Marc from Vital Dollar. Marc's story is so impressive with being able to walk away from his job after just 18 months of blogging.
Even more impressive is the fact that he's shown the ability to repeatedly create, grow, and sell his blogs which have amassed over $1 Million in total revenue.
So listen up and learn how to grow and monetize your digital efforts and hear what it's like to sell a website for over $500k!
After you listen be sure to let us know what you think. Episode Summary
He was raised by fairly low-income parents but was always raised to take care of what he had He went to college for business and bible After college, he wasn’t making much income but started tracking every single purchase and focusing on a plan for retirement In his late 20's he started swapping his focus from just saving to also increasing his income In 2007, at age 28, he started doing some web design work and a blog for web design His only formal education was an HTML class but just kept teaching himself He didn’t really love client work and focused more on his blog It took 6 months for the web design blog to make any money Once he reached a certain traffic count he added ads for a profit After 18 months, he had enough income to quit his day job In 2012 he started a photography based blog and sold the web design blog for $500k We discussed how these six-figure website sales go down He generally doesn’t bring on employees except for some freelance writers and graphics from time to time It’s not all sunshine and rainbows. We discuss the difficulties of keeping up with things like memberships and invoicing when tech changes get pushed from dependencies like Paypal For those first two big website sales, he put in the contract that he’d stick around for 30 days to help transition the site to the new owner He normally keeps one high revenue site while also running two others that can hopefully become money makers and sell the main one as the small ones grow We then dive into how to select a subject matter for a blog and then how to monetize it He also discusses how it might be good to start with a service but since it doesn’t scale it’s probably good to look towards a digital course or something One method he used to earn money early on was to get his product/service into someone else’s email list who already had some established traffic For investing he keeps most of it in index funds and target funds while also lowering liabilities like his mortgage Even though he works for himself building websites it still feels like work for him and he looks forward to retiring in 10-15 years with his wife and two kids Marc’s current spending is about $60k for the family We asked why he doesn’t just start traveling now since his job is location agnostic but he points out the pains of traveling with kids and spotty internet He is prepared for when retirement hits though with a big spreadsheet of locations he’s looking to visit including all 59 national parks Marc’s parting advice is just understanding that it’s going to take time to grow your business but you have to be consistent and be patient
Key Takeaways
Patience: Once you've heard so many experts say something...it's worth taking note. Marc is yet another advocate for being honest with yourself on growth and being consistent with your efforts. Passions to Paydays: We loved how Marc started his online enterprises with a foundation in something he probably would have written about for free. Passions make that first takeaway of patience so much easier. Instagram Life Isn't Everything: Marc could absolutely hit the road today. He doesn't need to wait until retirement to work remotely, but he also understands the reality of his family dynamics. It's ok to not be a nomad. Find what works for you.
Call to Action
In today's episode, Cody and Justin are joined by Cody's very own mom Ruth Berman! We wanted to do something special for Mother's Day this year and we think this interview hits the mark regardless of the holiday.
We cover her origins and the unique jobs she and her own parents had. Then, we spend a good bit of time discussing how to raise children in a matter that makes them both savvy and comfortable with money. We think there's a ton of great nuggets in there for parents.
Finally, we discuss some of the ways she's diversifying her income streams and maximizing every dollar. Ruth doesn't see retirement coming anytime soon but she's making some fantastic money moves.
If that doesn't sell you then stick around to possibly catch some dirt on Cody! After you listen be sure to let us know what you think. Episode Summary
Raised by parents who were older (41 / 57) when they had her They went through the great depression which really impacted the families relationship with money Her parents taught her about savings and opened up all the kids' savings accounts Her mom stayed at home and her dad was a Christmas tree farmer Since money only came in one little part of the year, they had to be good at budgeting Ruth was always incredibly frugal because of this Her first real job was manual printing press work in someone's basement She started college for music and then swapped to nutrition and massage therapy Her parents paid for college but she did pay them back $10k As a follow on to college she had jobs as an exercise therapist and health screener She had Cody at age 30 while her job as a massage therapist Ruth discovered investing a few years prior where you would just pick out stocks and fill out a form and mail that check-in... what? Then we transition into how to raise financially responsible kids. Her first tip is to simply lead by example. Cody and his brother knew when they went to the store that they were headed to the clearance section. She also tried to put incentives on learning in order to learn things like screen time. Ruth also came up with all kinds of creative games to promote exercise and learning even if it's just for a few pennies..kids will still do it! She says she has some mixed feelings on allowances if they're not gained through doing some kind of chore Cody also talks about how his dad would match anything he was willing to save.. don't we wish our 401k was like that? Ruth is now finding all these amazing health surveys like wearing an Apple watch and sleep studies which pay $2k & $7k respectively These kind of random income streams are one reason she has no fears that Cody will be just fine despite quitting his job She is also keeping her big costs low by renting out part of her house and running that house on solar power Then we start discussing how to handle your kids' college tuition bills Cody and his brother decided on their own to skip going to a private school and hit the state school instead which was a huge sigh of relief Ruth then opens up about going through her divorce and the personal transformation following it She didn't know how anything worked or how any of the bills were paid prior to the divorce But she just kept trying new things and learning and has become more and more independent Justin tries to pull some dirt out on Cody from Ruth but Easter egg thievery was about the best we could do...but Cody may have warned her ha Looking back she wishes she would have saved more earlier, built a smaller house, and went into medical research Ruth thinks she'll keep working for the foreseeable future but hopes to back off the 40 hour weeks after age 60 and increase the side hustles
Key Takeaways
Try, Fail, Repeat: Ruth found herself with a lot of new responsibilities after the divorce. She could have tried to throw money at them but instead, she tried to do them herself.
In today's episode, Cody and Justin are joined by Bobby Hoyt from Millennial Money Man. Bobby started off as a music teacher but today is changing lives with his wildly popular Facebook Ads course that the FI Show guys have seen change lives first hand.
In that course, Bobby teaches people how to contract yourself out to businesses and run their Facebook marketing. We're talking $1k+ per month of income with Bobby's first job himself bringing in $3k per month. Somewhere in between teaching band and teaching ads, he realized he had to be his own boss.
Now go take a listen to Bobby's story and see how he pulled off such an amazing transition. Episode Summary
Bobby didn't talk about money at all with his parents growing up His dad was an engineer and his mom was a secretary He said he didn't care about money and all and ended up choosing to be a music major in college He graduated with $40k in student debt His big goal after college was to buy a new Camaro A family friend of his who owned a pool installation business started mentoring him one day on debt payoff and general finance and because the friend was wealthy, Bobby really took it to heart When he first started teaching music he really loved it By year 3 of teaching, he knew he wanted to work for himself that teaching began to be a drag on him He toyed with the idea of also starting a pool business but instead started putting a lot of effort into his blog His main focus with the blog was focusing on living below your means and student loan debt He was doing some extreme house hacking by renting a room from his in-laws He realized he had about $50k saved up, which was about three years of expenses, and that's when he took the leap of full-time blogging His first six months were pretty scary with not earning hardly any money Their jeweler came across his blog and mentioned he needed someone to help him with his marketing and hired Bobby at $3k per month He got discovered by CNBC which really pushed his blog He had installed the Facebook pixel days before that story went live and that allowed him to make lookalike audiences Those audiences really helped him market to the right people and started making a couple of grand per month off the blog He's always tried to really focus on a personal connection with his audience vs simply numbers He admits he waited far too long to hire on help because he was getting really overwhelmed Bobby admits he actually let his mental and physical health take a downturn with the overload Now that his business has taken off so successfully he has plenty of money so while not wasting tons of money he also isn't super frugal He also realizes that as an entrepreneur he can't guarantee his future income so when he does want something nicer he buys it in cash so monthly expenses aren't a problem Bobby doesn't really see himself retiring anytime soon and looks to continue growing the business He's now doing courses to help others get into the business of doing Facebook ads for local business so you too can step away from the grind His last remarks are about letting people pass you up and by that he means while you're grinding and saving you'll see those around you spending money and seemingly passing you but you'll slingshot past them soon enough
Key Takeaways
We need to reach the youth: Bobby made a decision to go follow his passion. Which is fine, but he didn't do so considering all the implications, such as the financial ones. We have to reach out and introduce these topics to the high school age kids to at least make it a consideration. Prep makes bold easy: It seems super bold to walk away from your job to try and be your own internet boss. No doubt it's bold but it's a lot easier when you've prepped and saved three years of living expenses just in case things don't pan out. Learn, refine,
In today's episode, Cody and Justin are joined by Robert from The College Investor. Robert has been sharpening his money making skills since elementary school and hasn't let up one bit.
Robert used his career at Target as the foundation of his financial journey but always looked to expand his income streams through investing and side hustles. At a point, he realized how much bad advice there was out there for young people looking to build wealth, especially around debt pay off and investing so he started his own blog to help out.
Now go take a listen to Robert's self-made story and follow along with the show notes below. Episode Summary
Robert was making money from day one by selling candy bars on the playground He even helped his dad with his taxes on old school Quicken His dad was in the Navy and then a defense contractor and his mom was a city government employee So his jump into entrepreneurship wasn’t seen as natural by his parents Robert started working at Target at 16 and stayed there while getting his undergrad degree He ended up working at target for 17 years Robert graduated with a political science degree after quitting a computer science program While he had a lengthy standard career, he’s always had side hustles One of his favorites is flipping deals or finding undervalued items at estate sales At 20 he started playing in the stock market with just a few hundred bucks and had really good returns even though he didn’t really know what he was doing He started his blog in 2009 at age 24 and had some inspiration from Get Rich Slowly He and his wife were able to put a significant down payment a year later on a house because they had been living with their parents until they got married When he finished college he did have $43k in student loans but they paid them off in 3.5 years The house that they bought was a fixer and bought it at a fantastic time with the housing crash so they came out really well on that one Robert credits his ability to handle 17 years at one business was because he had pretty good luck with great managers for most of his career He worked from pushing carts all the way to a store manager going from just over minimum wage to making close to $200k per year Then we shift to things people can do to help themselves get hired from his experience as a manager He points to communication as the number one and problem solving as the number two most critical pieces when interviewing Robert highlights how young people have more communication than any group in history but don’t have as much experience with one on one communication Then we jump into healthcare and how that’s different working for yourself vs working for a company He reminds us that it’s really not that different it just means your premium isn’t being subsidized Then we get into some side tangents to minimalism and organization. His final thoughts are related to making a conscious effort to raise your income instead of only focusing on saving
Key Takeaways
Bloom where planted: Robert didn't work his way up to some new exciting tech start-up. He started pushing carts at Target. Then, he went and turned that into a lucrative managerial position through hard and smart work over time. He made the most of his situation. Know your path: Robert's story is pretty awesome in regards to increasing his income so much at a company. It's important to keep in mind what your growth potential at a business is. When looking for jobs, don't simply focus on the starting salary. Dig into what your potential for growth is. Live like no one else: One of the biggest life-changing moments Robert has was living at home a little longer. This allowed him to save aggressively, have a down-payment ready for a house at one of the best times in U.S. history, and start his financial journey off on a solid foundation. He could have moved out at 18 and found an overpriced luxury a...
In today's episode, Cody and Justin are joined by Suni. Suni lives in the Boston area and has an amazing story.
She became a professional tennis player at age 14 after coming from some very humble beginnings with immigrant parents. That career lasted nine years with some very interesting financial and personal implications. Then she found herself 23 with no real savings and way behind on the educational curve.
Don't worry this story has a happy ending and a surprise twist that lands us in the remote real estate discussion.
Now it's time to go take a listen and see what you think for yourself. Episode Summary
Her parents came over from India in the 80s and were very poor They started to work their way out of it over time and her parents instilled savings in her When she was 14 she started playing tennis professionally She was using a lot of those winnings to pay for travel, PR, training, etc. In the sport, you're really just breaking even at that level even though it's professional She was able to get a lot of training provided through scholarships in return for advertising The income that she would make was extremely variable. Some weeks she might make $20k and some she might make $100 While that could seem like a lot of money at times she also had extremely high expenses because she had to hire full-time coach along with their travel Suni actually dropped out of school in the 6th grade and was supposed to be teaching herself but that wasn't really feasible with 8 hour training days After 9 years of playing professionally, she retired at age 23 in 2009 to return to school At 23 she only had a couple of thousand dollars to show for her career She then walks us through the struggles of professional athletes being able to handle money and look out for their future The recession actually played a part in when she retired because many businesses didn't have extra money to sponsor an athlete After retiring she spent some time taking remedial classes to get her up to speed at a local community college After that, she was able to attend a prestigious private school through scholarships and need-based grants Now she's 27 and looking for a job She landed a job in a large firm in their management training program She stayed there 2.5 years before coming to her current job in corporate financial planning Feeling compelled to get her finances in order she felt like going after a career that really made a difference wasn't reasonable She then came across the book Rich Dad, Poor Dad which really changed her outlook Then she gets into real estate as a path towards passive income She closed her first property in April of 2018 and was up to 5 units before 2019 While she lives in the Boston area, these homes were purchased around Indianapolis and never even saw them before purchasing She decided on Indianapolis based on a ton of technical statistics such as population growth, income growth, diversity of employment, and price to rent ratio. Networking was the key to actually finding the team to help her manage these properties She doesn't see herself walking away from work altogether but her goal is to replace her current income with real estate so she has the flexibility Then we discuss finding people to surround yourself with who understand the journey to FI and some of the difficulties that come with that We also spend a lot of time throughout the episode covering the psychological impact of growing up poor and then becoming a professional athlete and how that just impacts her outlook and drive Her closing advice is for those looking to get into real estate which revolves around building your network and understanding the technical drivers that make or break a market and understand your cash position so you know if you're prepared for an investment
Key Takeaways
Don't envy: It would be easy to feel jealous ...
On today's episode, Cody and Justin are joined by Andy from Marriage Kids and Money. He tells us his relatable yet inspiring story of living a life with far too much spending brought on by lifestyle creep.
Lifestyle creep is when you get used to a certain way of living but then as you make more money you increase that style of living little by little until it becomes unsustainable or at least larger than you intended. Andy and his wife were spending every bit of their salaries which totaled over $100k. Reality struck when she became pregnant and they knew they needed to change their ways.
Now listen to the story and hear their remarkable turnaround and how Andy is now helping people walk in his footsteps. Episode Summary
Andy and his wife go together in 2010 with a combined earning over $100,000 but they were carrying a good bit of debt and spending everything they earned That debt included $50k in student debt, a nice car loan and frequent use of their Home Equity Line of Credit (HELOC) They had a wake-up moment when he realized they were going to be having their first child Quickly he started pouring over podcasts, blogs, and anything to help them learn They’re currently living around Detroit which has shown a huge turnaround He bought a house right out of college in mid-2000s and realized he couldn’t afford the mortgage To help with the bills he ended up bringing in several roommates who paid the mortgage for him...Another house hack win! When he got married they realized the roommate situation wasn’t going to work so they bought a new house with the goal of paying off the new $350k house in 5 years He was able to get back all of his money from the first house but didn’t make anything off of it The first material that helped Andy really turn things around was Dave Ramsey’s Total Money Makeover Once a month, he and his wife would sit down and review their budget until they got it under control The biggest changes they had to make was cutting out entertainment like food and drinks He talks about how tough it was saying no to friends in family in order to pay down their debt so aggressively We discuss the struggles with getting your spouse on board with this new financial plan He said his biggest mistake was focusing on the process and numbers vs the outcomes, emotions, and the “why” behind the plan Once the subject went from percentages to a discussion of having more time with their kids, Andy’s wife became equally as fired up about the journey A powerful exercise he discusses to help with this is to just sit down with your significant other and talk through your perfect day/life if money wasn’t an issue Then we swap to start discussing how their life is changing now that their finances are in a good place and they’re starting to build their financial independence lifestyle With their kids starting school, his wife has begun a home organization business which is just another great example of how you will discover your true passions when you step away from a full-time job and those passions will probably bring you unexpected income We then shift the discussion back to their debt pay-down where Andy gave us the tangible steps to paying off their house in 4 years The first piece was a $150k down payment after a lot of aggressive savings That got their mortgage down to $200k They continued their monthly expense reviews Every bonus or additional dollar they received they put towards the house Andy’s wife actually stepped completely away from her day job to be a stay at home mom with $80k left on the mortgage That mortgage was completely paid off a little over a year ago That down payment that they had been saving up for was all in cash after some shady dealing Andy had with a financial advisor Andy admits that these were major financial mistakes but worth it due to the amount he learned throughout the process
On today's episode, Cody and Justin are joined by Monica from MonicaLouie.com. She tells us her inspiring story of tackling debt and putting family first.
Monica and her husband both came together after college with some debt and Monica wasn't a saver naturally. Her husband brought those characteristics to the household and she took to them quickly and soon started leading their debt pay down efforts. While on her way to becoming a mother of two, she decided she wanted to be able to spend as much time as possible with her children and step away from the workforce.
Unfortunately, even though they had made great strides on their spending, one income just wasn't enough. So Monica started a blog and experimenting with Facebook ads. She then started her own Facebook ad consulting business in 2016 with her as the single employee. Today she employs 13 and is on the fast track to being debt free.
But you don't want just an overview, go take a listen to today's episode and let us hear what you think. Episode Summary
Grew up with a single mother where money was often a struggle and she knew she wanted a different life She took the traditional college route but struggled some after graduating Then she found herself in credit card debt A couple of years later she had a good job, got out of debt and vowed to never get in debt again. When she met her husband, he was frugal and she became conscious of saving for the first time They were on a good steady path and then she had her first child and her priorities shifted She decided she wanted to be a stay at home mom so they started saving really hard Then she was pregnant with her second child and stepped away from her job A couple of months into this, they noticed their savings starting to decrease a looked for something to help out On top of this, they had over $300k in debt including their mortgage Within two years they had paid down $120k in debt Her husband had reservations about sharing finances because she was more of a spender and he was a saver so she made it a point to build that trust by being financially responsible The idea of her blog came from people asking questions about how she burned down so much debt With this first blog, she started discovering Facebook ads and noticed she had a knack for it Then her fellow blogging friends started asking for help with Facebook ads In 2016 she ended up selling her blog and becoming a full-time Facebook ads coach Facebook ads are great for just broadening your reach as well as funneling people towards paid content or even a transition funnel to get a customer to free content which will then get them to paid content Therefore often it’s best to save your Facebook ad promotions for posts with affiliate links We also discuss the ever-changing landscape of Facebook ads with new features and algorithm tweaks Her business has already grown from her being the single employee to a team of 13 They’re still paying down debt with the goal of being debt free by age 40 With her job being location independent, even if she’s working they can live a lifestyle very similar to one many expect when they are financially independent The business hasn’t been making a ton of money right away because she’s been growing the company but is now transitioning to focus on the profit We also discuss the example she gets to set for her kids as they see her make income from home doing something she really enjoys Then we get into some more technical aspects of how to do Facebook ads Some of the tips she recommends is testing against different groups and optimizing the ads by constantly testing and tweaking Facebook can also help you find a look-a-like audience which is where you feed Facebook some information about the audience you already have and it finds more people like you She recommends static images when you are looking for someone to click on a blog post
On today's episode, Cody and Justin are joined by Joel from FI 180. It's so inspiring to hear someone who had real spending issues and quickly got them under control. Joel wasn't forced to in order to take on debt, he had a wake-up call in the form of a car crash involving his wife.
Unfortunately, sometimes it takes a potentially life-altering event to step back and reevaluate your life. Thankfully Joel's wife is fine and they don't miss their old spending ways.
The transition they made was remarkable. They were set for a life of working into their 70's and quickly make changes that have allowed Joel to retire at 34 and his wife the option to do so whenever she chooses.
Well, go take a listen to today's episode and let us hear what you think. Episode Summary
Joel’s parents never made a lot of money ($35k per year) Out of college though Joel started making ~$55k Never having money before he just started blowing it all on crazy things like $3500 t.v. His wife has always had more financial restraint Joel simply didn’t know how to manage money because he had never had it but wasn’t in debt Joel’s wife didn’t want to merge finances because of his spending habits To combat his spending, he would just continue to work more About 6 years ago after his wife got in a bad car wreck Joel made his “financial 180” He states that he really doesn’t miss the spending since making his changes That lavish spending just became normal and wasn’t fun anymore Now with low spending, anything lavish really seems like a treat Joel comments on how people don’t see from the outside how much strain the work it takes to live a lavish lifestyle can take on your life when you’re simply viewing a lavish lifestyle on Facebook/Instagram In 2012 they spend $107,000
$16k shopping, $13k food, $12k travel, $12k bills, $11k cars, etc
Now they spend between $25k-30k per year Their first big move on lowering expenses was going to a one car household They continued their transition to lower spending by targeting one thing each month It took them about three to four years to fully make their transition Joel states that for them cooking for themselves was the hardest part of the transition They cut cable, extra car insurance, water delivery, and home monitoring and other things included slowing internet speed, lowering cell phone data package After one year they cut an additional $1,080 a month from their budget By 2015 they lowered their spending to $34k per year They actually went too far and got over 80% savings rate and decided that was the deprivation Joel has stepped away from working but his wife enjoys work and continues to do so We discuss how the retire early part of FIRE gets all the attention while the Financial Independent part is much more important Joel is 34 and they are considering having children but aren’t sure He talks about how not having a job doesn’t ensure you’ll be productive that it still has to be something you’re motivated to do It took Joel a few months to build that structure that led to a proactive day Joel even discusses feeling younger since retiring We then talk about how Joel built up the confidence to quit his job He came up with the quote that “His worst case scenario, is everyone else’s everyday scenario” That means that if he needs to go back to work, so what, everyone else works, it’s not that scary They also decided to pay their house off quicker to remove that fixed cost and make it a little less scary We end the episode with Joel stressing finding a good work-life balance and not focusing so much on one particular number
Key Takeaways
Having money can be a problem: Joel came out of college with decent pay and no major debt worries. Sounds good right? Well, he also wasn't prepared for how to handle it. He wasn't forced to learn frugal habits early on. While we may never feel sorry for someone in Joel'...
On today's episode, Cody and Justin are joined by Ryan Jacob who has one of the more gutsy stories you'll hear. Ryan has decided to step into a mini-retirement or super lean FIRE plan in order to get away from his soul-crushing job.
He was in an extremely corporate setting with big money in his future but decided instead to take his nest egg of just over $300k and call it a day. Instead of a cubicle he now spends most of his time on the water catching some awesome fish.
It's obvious to see that Ryan is looking for more than fishing in his retirement and is itching to start his own business. Want to know what kind of business he has had and will have? Curious what life looks like when retiring on $300k?
Well, go take a listen to today's episode and let us hear what you think. Episode Summary
Grew up middle class with a stay at home mom and his dad was a self-employed contractor His mom was a saver while his dad was a saver and his mom's habits rubbed off on him He would always save everything even as a kid Ryan even started investing money at age 14 after he'd saved up $2k through a custodial account with his mom It's the late 90's during the dot com boom His mom sets him up with an adviser and he lost everything in that dot com bubble That experience actually pushed him to learn more about the market instead of discouraging him In college, he studied finance and he realized the adviser who was overseeing money for the whole family was actually doing some shady investing practices Ryan really wanted to start up his own business even at 18 but his mom pushed him to go to a traditional four-year college We talk about the huge gap in financial education in high schools and college He worked for 4 years after college as a consultant and an analyst at a management consulting firm making around $60-70K saving around 40% Part of that career path required an MBA so he went off and did that and came back to a salary of $110k-$120k Ryan talks about his path wasn't a flip of the switch that it was a very thorough and long term plan Even though he was marching towards retiring early he didn't discover the financial independent movement until just under 2 years ago Ryan stepped away from work after fulfilling his last commitment with his company after saving up just over $300k He's aware that he'll probably need to work again but he's in no rush A really interesting take was his discussion about how if he'd kept working longer and saved up so much to have a safe retirement, he wouldn't have the push to start up his own business which is a big goal of his In college, Ryan had started up a business which was a painting service including a van that he paid $75 for The group made $70k over that summer From that point, we swapped into digging into Ryan's investing strategy His first recommendation is to avoid the percentage based advisers and swap to one time fee-based advisers He also recommends robo advisers such as M1 finance, Betterment, or Wealth-front The number one recommendation though is Vanguard for their index funds Vanguard even has their own advisers We then transition into what Ryan was looking into doing in retirement His goals are related to ocean fishing, hunting, reading, spending time with family, brewing beer, and start a financial advisor business You can really tell how refreshing it is for Ryan to get to reconnect with his family after his profession took him away from them for so long He rounds out the episode by pleading with people to understand that the path to financial independence isn't common and you'll have a lot of people try to stop you or second guess but to stay the course and be confident
Key Takeaways
There is a middle-ground: Notice how Ryan accepts that he may need to go back to work? That's totally ok with him. He chose to put himself first and get out of a toxic situation.
On today's episode, Cody and Justin are joined by Kieth aka The Wealthy Accountant who went from a small town farmer to a multi-millionaire tax professional. Want to know how good he is? Well he's good enough to have been selected by Mr. Money Mustache to do his taxes. That's a heck of an endorsement.
Keith's story is truly amazing. The way he self educated himself is as relevant today as ever with the access to training and the changing job landscape.
Hear how he started his business and became financially independent way before that was even a common phrase. Episode Summary
Keith grew up in a farming family in small town Wisconsin They didn’t really have anything to spend money on so they lived frugally The family farm ended up going into bankruptcy when he was 18 In high school he started studying the stock market crash of 1929 and became really passionate about investing and he started investing at 18 He also started doing the books on his dad’s agricultural repair business That eventually turned into fellow employees asking him to do their taxes Before long he had 50 clients with no overhead We talk about how different the interest landscape was in the 80’s He talks about how excited he was to get a 10% mortgage In totality he’s only ever worked for someone 14 months At about 32 he realized he had accumulated $1M and he was married at this time This being the late 80’s he had a $540/mo house payment and they lived on less than $10k He spent all day outside of tax season just sitting around reading books and learning In reality he never got a college degree but didn’t need one Even though he didn’t have a degree he spent a decade just pouring over books He was a financial independence guru before FIRE was even a term The first blogger he really ran across was Mr. Money Mustache In fact he even did Mr. Money Mustache’s taxes! He points out that before you get to stressed out over tax loop holes and maximizing everything, to stop and realize you’re probably always going to make some kind of income and if you’re serious about this path you’ll likely end up with more money than you’ll ever need We then swap this discussion to the tax specific tips He talks through standard 401ks, backdoor roth 401ks and mega backdoor roths We also get into things like Cash Balance accounts available to self-employed members Keith also mentions that standard brokerage accounts get a bad rap and shouldn’t be overlooked but still recommends filling up your 401k and IRA When coming up with a tax strategy for someone he talks about how important it is to look at a person’s scenario on a long term view and not just year to year You won’t want to miss the deep dives into the mechanisms behind the different IRA contributions, cash balances, and profit sharing which can take you to many times the $19k 401k and $6k IRA limits Then we get into the discussion of tax moves you can make with non-qualified accounts like your standard stock market account that’s not a 401k or a IRA One thing Keith points out is that these non-qualified accounts are tax advantage in a way because when you die, you’re beneficiaries won’t have to pay capital gains tax on all those earnings. Your kids get to take over those shares at the price listed on date of death and all those gains are forgiven from any tax burden From Keith’s standpoint most tax loss harvesting is ok but not worth paying for On the flipside, he’s a huge fan of harvesting gains Harvesting gains is when you’re in the 0% tax bracket and have some room to give so you purposefully sell some shares for a profit and capture those gains without paying taxes on the gains (STOP AND READ THAT LAST BULLET AGAIN…SO POWERFUL) Keith also urges you to consider what your retired minimum distributions can climb up to be if you just let them sit in the traditional accounts until 70 Stay out of debt, invest,
On today's episode, Cody and Justin are joined by Leif from Physician On Fire. Leif didn't even discover the idea of financial independence until he was 40 but has truly hit the ground running. In just three years he has created a massive online following where he helps reach high-income earners to educate them on finances as well as spread the message of giving.
He donates 50% of all blog-related income and has donated up to $100k in a given year. Stay tuned to get Leif's background and take on topics such as backdoor Roth IRAs, discovering financial independence at a later age, travel hacking, and his donor fund.
Go give it a listen and let us know what you think! Episode Summary
Leif was born in 1975 and began understanding money even as a 5-year-old He came from a family of physicians and knew that’s what he wanted to do as well At age 30 he was completely finished with schooling and residency and became an anesthesiologist He was able to keep student loans low by sticking with in-state schools, earning scholarships, and a college fund his grandfather had left him At age 30 he had a slightly negative net worth and didn’t discover the idea of financial independence until he was almost 40 Even before discovering financial independence, he was saving about 50% of his take-home pay but it was intentional The discussion then transitions to the topic of financial advisers targeting high-income members like physicians and possibly taking advantage of them He reaches other high-income earners to help them learn how to invest for themselves and even find a local financial adviser through his blog and Facebook groups One of his Facebook groups is for anyone in the “Fat FIRE” community which he describes as anyone looking to be able to spend $100k or more per year in retirement He then starts breaking down tax advantage strategies especially as they pertain to high-income earners including the backdoor Roth IRA and Mega backdoor Roth Then he describes how he got into blogging and making money through this other source It wasn’t actually until a little over 3 years ago that he discovered financial independence for himself and saw The White Coat investor as a role model in the space His hope was to provide advice similar to White Coat Investor with a voice more similar to Mr. Money Mustache When he first discovered financial independence he had a five-year plan which would have been around 2021 but instead, due to the success of the blog and the realization of his financial situation, he went part-time almost right away We then dive into how he keeps his spending reasonable because so many high-income earners aren’t able to maintain a high savings rate even though they have so much money to work with which he credits to living in reasonable homes, driving cars for 8-10 years, and only eating out a couple of times per month They were spending between $60k-$70k per year for total expenses with a paid off home One area where his family has found efficiencies with spending is through travel hacking Travel hacking just means finding creative ways to use points and miles from things like credit cards and promotions to travel for cheap or even free He has done this for trips with his family to places like Hawaii and Honduras. His family spends around $5k per year on travel but estimates that number could be closer to $25k if he didn’t take advantage of travel hacking We then dive into his goal to spread a message of giving back and his own experiences with doing medical mission work with his family Then we discuss the mechanics behind a donor fund which allows him to donate money now and disperse it in the future where he’s given up to $100k in a given year One advantage of these donor funds is that it allows you to donate investments as well as cash so he was able to donate assets that had greatly appreciated to the fund so he was able to avoid capital gains tax...
On today's episode, Cody and Justin are joined by the dynamic duo of Joel & Matt from HowToMoney.com and the How to Money Podcast.
The guys met the How to Money crew at FinCon and the rest is history. This fantastic conversation unwraps their backstory and tons of tangible tips. From groceries to real estate, to building a community for their young families, this episode is great for all audiences.
Go give it a listen and let us know what you think! Episode Summary
Joel discussion starts out describing growing up around financial stress in the household and how that led to a desire to be financially stable Matt had a better education of finances growing up and had the seed of financial independence placed in his mind We then discuss the dynamics of teaching our own parents about money which can be touchy and awkward Even when discussions are natural you have to respect and understand that your views and beliefs may just be too different to agree on, but that doesn’t mean you can’t support each other The online communities are so powerful because they give us a venue to find people who view finances the same way and help spur on growth and knowledge The guys discuss the danger of getting hyper-focused on the numbers of financial independence and not enough on the lifestyle you want to have They also discuss a shift in prioritizing time vs prioritizing money the further they get into their journey Matt and Joel also call out several things that just simply won’t show up on a spreadsheet such as proximity to friends, stress, and convenience Matt’s financial journey really took off after finding Dave Ramsey and while he doesn’t agree with everything, it gave him a lot of fundamentals Matt also credits budgeting which gives you a lot of clarity on where your money is going and highlighting where you can improve your spending Joel was always cheap and willing to do things for less His financial journey really took off when he got heavier into real estate where he would live in a house for 2 years, do renovations and move onto the next one. We then shift gears and unwrap Matt’s grocery budget for a family of 5 which they keep to $450 per month His main three tips are avoiding processed or prepackaged foods, cheaper cuts of meat such as bone-in chicken thighs that also have more flavor, and watching the overall quantity of food you’re eating since most Americans overeat Joel mentions another tip which is splitting entrees when eating out since the portions tend to be way bigger than you’d eat at home by yourself The next tangible money saving we get into is biking Biking gives you a workout, takes care of your commute, and saves you a ton of money Joel recommends looking into an electric bicycle for people who maybe have a commute that’s over 10 miles. While they’re more expensive you still can get a workout with the pedal assist and still save money Joel recommends ElectricBikeReview.com for helping you pick the perfect electric bike Matt is down to a one car family and Joel is getting close as well Joel and Matt discuss how they keep the costs of raising children low through creating a community which allows the parents and children to get together and have activities without the costs like registration fees We then jump deeper into Matt and Joel’s real estate investing They talk about renting out an extension on one of their houses and Air BnB in the other Even beyond real estate investing, they both agree that it’s crucial to avoid the urge to keep looking for a bigger house for yourself as your family grows We finish off the episode with Matt urging people to focus on the big areas of your life like rent or mortgage before worrying about things like cutting coupons Joel explains how frugality gives us options
Key Takeaways
Look beyond the numbers: We loved the takes both guys had on all of the aspects that are so important to financ...
On today's episode, Cody and Justin are joined by Captain DIY as he breaks down his journey to becoming a professional electrician and how that intersects with his journey to financial independence.
Cody and Justin have had a chance to hang out with the good Captain a couple of times including down at a Camp FI event.
Go give it a listen and let us know what you think! Episode Summary
Started money journey 8 years ago when his first child was born Their goal was to save $20k before their son was born He found himself spending a lot of his excess money on musical equipment His biggest change though was bringing his lunch to work and also his toughest He grew up learning how to build things with his dad but didn't see it as a passion and he went to school for graphic design He ended up spending 6 years taking community classes But his leap to being an electrician came from working at a sign shop and realized he might be worth more to them if he was a licensed electrician to wire up the lighting He recommends starting with small projects to get into the DIY spirit such as changing out handles or painting He talks about the triple benefit of DIY which is saving money, getting a workout, and a lot of self-satisfaction Then he jumps into the potential of vocational high schools and apprenticeships vs traditional college and the debt that typically comes with it He also breaks downs the rates of pay for trades work that you do on your own vs working for another company which is about 4 times He recommends shopping around and talking with multiple tradesmen before hiring one to protect yourself from getting taking advantage of
Key Takeaways
Understand Value: He saw an opportunity to bring more value to his employer at the sign shop by diversifying his skill. It's always important to know what your boss is looking for and how to make yourself more valuable. Benefits in bunches: It seems like most skills and routines that we do for some benefit also bring 2nd and 3rd order impacts. As he said, DIY skills help in much broader strokes than just finances. Pride in your product: It was clear that the reason he has no trouble finding work is that the product he delivers is top notch. Whatever work or service you do, be honest, upfront, and deliver what you promise. Just think of how much even one bad review poisons your outlook on a product or service you're considering. If you want to build your brand, it has to be a brand people trust.
Call to Action
Make or fix something with your hands. There's just something therapeutic and rewarding to creating something or returning value to something that was previously useless.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Links from the Episode Electroboom Exploding Guitar Video
Contact Captain DIY:
His Blog: DIY2FI.com
Twitter: @DIYCaptain
Instagram: @DIYCaptain
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
On today's episode, Cody and Justin are joined by Timika Downes from The House of FI podcast to share her amazing journey. Her story involves marriage, divorce, children, military service, career changes, and six-figure side hustles.
Her constant urge to better herself is truly remarkable and we think no matter what your journey is or where you are on it, this episode has something to offer for you.
Time to go listen, comment and show us some love with those ratings. Enjoy! Episode Summary
Born to immigrant parents growing up in projects of Boston In the 5th grade, she was a part of a program where she began attending school in a much more affluent neighborhood When she got in high school, they moved to a two family home and began house-hacking Her parents instilled saving money but no deeper financial discussions She racked up about $94k in debt over the course of her three degrees Timika ended up with a Master’s in Accounting and a Nursing degree She talks about how she plans on handling her children’s education based on what she learned from her experience There was a discussion about a situation she was aware of where the parent’s had different payouts they would support their kid with based on how profitable the degree was they went after. She got married earlier on and they both made good money and bought a house but they never really managed their money or really worked their way out of debt or built wealth That marriage ended in divorce at age 30 and was a wake-up moment for her financially She also joined the military which greatly helped with her college debt She talks about the great experience the military was and her commitment was 1 weekend per month and a two or three week period every summer and she got a $50k bonus plus pay on those duty weekends. After being remarried and having a child, she realized she wasn’t going to stick around for 20 years and get retirement so she stepped away from the military. Once she got debt handled she started looking at side hustles and entrepreneurship Her first effort was for a breastfeeding product to help women feed at work Unfortunately, in the end, she realized the profit margins just weren’t good enough It did, however, teach her how to handle websites and social media campaigns Her recommendation is to spend your time before you spend your money when looking at a new business idea Then she found a very successful business venture in a head lice clinic She got the idea after going through a lice outbreak in a school she was working at as a school nurse Her clinic utilizes a machine that is leased through a University program that dehydrates the eggs of the lice You purchase rights to a region for the clinics and now the business is moving to a franchise model Lice Clinics of America is the organization she utilized to get started She also mentioned that there is a mobile version of the business people can get involved in now In her first year, the business made over $100k of revenue She continues her personal growth by starting a blog, podcast, and even taking coding classes Her tangible tip is to always look at a problem creatively and deliberately and realize that your journey to financial independence is a marathon and not a sprint
Key Takeaways
Paths aren't always marked: She ended up with three degrees which led to debt but it was part of the process for her to find her path. Some people are lucky enough to have a calling from the time they can talk and others need a little more exploration. Don't compare yourself to others, just focus on finding your path. Failure is our best teacher: This is one of the most reoccurring lessons I've ever seen with entrepreneurship. Timika didn't strike gold on the breastfeeding business in terms of revenue but the lessons she learned were priceless. Invest in yourself: I absolutely love her commitment to self-improvement.
Today's episode is an extra special Valentine's day episode; Cody and Justin throw out all common sense by letting their significant others come on and give you an unfiltered behind the scenes look at what it's like to date someone so determined to retire young.
While the girls take plenty of jabs at the guys, we think you'll also get some great insight on how to make money conversations with your significant other much more productive and approachable.
Running behind on a Valentine's day gift? Just fire up this episode and grab a glass of wine for the perfect date night!
Oh, and don't forget to say happy birthday to Cody! Episode Summary
Laura’s parents weren’t into personal finance but she did understand being frugal and buying only what you need Leslie’s mom was big on spending money on experiences and things that were important but at the same time spending smart When Leslie first met Justin she noted how he asked even on the first date was asking questions about what her spending habits are Justin also used a coupon in combo with $2 beer night on their 2nd date Laura talked about her first dates with Cody involved using these free vouchers from Cody’s dad Laura sometimes felt like she was being difficult because she knew she was recommending a restaurant or activity that Cody wouldn’t normally do Then they start tackling positives on meeting someone so frugal Leslie talks about how much more travel it has opened up a ton of travel and how it’s not so much about the total of money but more about maximizing the money so maybe you go on two trips instead of one Laura talks about how dating Cody has changed her habits in relation to finances A common theme is being more intentional with money but at the same time teaching the guys to not stress so much over the small stuff Leslie talks about the importance of us splitting things and how you don’t have to feel like one person is pulling the weight Justin and Leslie say they probably speak about money in some form almost daily Laura mentions that sometimes it can seem overwhelming to talk about finances so much but she appreciates it and it’s better to be aware Then the guy’s swap the conversation to how the ladies have changed their lives Cody mentions things like charity and international volunteering Justin talks about opening up a little on the groceries and when something seems important to Leslie to just do it since they’re already so optimized Justin and Leslie discuss how their financial discussions first started which was spurred about because of Leslie changing jobs For Laura, Cody tried initially with straight numbers which didn’t really work but then once he introduced her to travel hacking it had her hooked The approach of bland numbers was also an unsuccessful attempt by Justin but he too realized the outcome was key. They started focusing on how they wanted life to be and things were a lot clearer Laura talks how Cody talked her into going to Camp FI by spinning it into a vacation Then they talk about how important it is for the guys to also support their passions Laura dreams of working in public works in places like Cambodia Then they discuss how the ladies feel and trust the numbers that the guys are steering to and how they’d feel about not working for upwards of 60 years Leslie & Laura feel confident and also recognize how flexible they and their careers are They then discuss what people who aren’t as focused on financial independence or as experienced would like to hear from things like the podcast Laura & Leslie talk about tips to get your spouse on board with a journey to financial independence such as recognizing things that are important to the other person and not crossing that line when drawing down expenses
Key Takeaways
Appreciate their sacrifice: It's often easy to look at yourself and feel proud of how you might be shaping up the finances for you a...
In today’s episode, Cody and Justin bring you an incredible story that starts in poverty but ultimately dismisses a strict following of frugality. Dom was raised in unfortunate circumstances but quickly started latching onto mentors at a young age. He even had a pretty successful business selling candy bars at school as a young kid.
Since those days Dom has continued to sharpen his skill and has outlined a method for gaining promotions and raises at a high degree of success. He now brings in over $300k per year and is ahead of schedule on his amazing goal of $10M!
He also gives an interesting take on becoming an "Intrepreneur" where you still work for someone else but with the autonomy and compensation you desire. Episode Summary
Grew up on welfare Parents were drug addicts His dad spent a lot of time in jail for producing meth He gained sight of the FI movement through “Rich Dad Poor Dad” Finds his motivation from people who are more successful than himself In 6th grade, he found out about a place that gave you free pizza if you folded boxes He got to know the owner who was his first mentor At the pizza place, he learned about inventories and staffing That little job also helped him understand the correlation between the amount of work you put in and your reward He started selling candy in elementary school and was making 60-100 dollars per week just selling candy Around 2014 he started noticing extreme frugality wasn’t working for him and he went to a 50/50 model where he saved 50% of his income and spent the other 50% guilt free regardless of income They now spend $110-120k per year He interned with a company in college and would eventually take a job with them as a financial analyst He really focused on outworking his coworkers and worked 80-90 hours a week for his first 7 years out of college Some of those hours were on the side learning new skills and not just on his job He talks about the importance of marketing whatever your skill is Knowing what you’re good also means being very self-aware A great quote he had was “failure isn’t because you didn’t have the resources, it’s because you didn’t have the resourcefulness” He also talks about how important “Luck” is but refers more to being prepared when these seemingly random opportunities come along The skill he learned was being the translator between the Financial and IT sections of the company To help find your own skills you should hone in on, ask other people what they think you’re best at, what are you getting complimented on. He gives tips on getting pay raises and when it’s time to just jump ship He actually recommends sitting down with management and agreeing to what it would take for a raise or promotion and what your pay increase would be and have them sign off on it, email it to them, and track throughout the year sign, scan and email it to them and then come in at review time with evidence that you met it and asking when the raise is happening? I mean I love that but never heard of it and secondly when you’re swapping jobs, do you have a time frame like X number of months prior to leaving that you start scouring linkedIn, are these contacts from your current business, how does finding that next job look? He used this method at one point to gain a $60k a year pay increase and promotion Dom was able to make this deal by implementing a strategy that would save the business 60k every year indefinitely He also recommends staying in touch with recruiters to check in with periodically to see what other people are making at a position similar to yours This also leads into a term he calls “Intrapreneur” where he’s more than an employee and has earned a lot of autonomy He has since negotiated a stake in the company and bonuses so he has the best of both worlds While he has to work a lot and across a lot of time zones he’s able to work from anywhere and at any time so...
In today’s episode, Cody and Justin bring you an awesome episode full of philosophical discussion to go along with the background of Grant Sabatier who went from $2.26 in his checking account to $1.25M in 5 years!
Our main hope is you come away with a little more insight into Grant's brain as we tackle some interesting questions like
Do people optimize too much? Can a journey to FI be harmful? Does someone need to know their why? Is becoming an entrepreneur the answer?
If you enjoyed this episode or want to get to know more about Grant, we encourage you to pick up his new book Financial Freedom today! Episode Summary
Graduated with philosophy degree Bounced around 4 jobs after college Was laid off twice Spent what money he had going on a big trip to Africa Ended up back at his parents with $2.26 at age 24 He was also carrying credit card debt His parents gave him a 3 month time limit to figure things out
This was during 2010
He started googling for books about money and landed on Your Money Or Your Life as well as Automatic Millionaire
Grant realized if he was going to be trading life for money, he became focused on how he could make as much as possible
He sat a goal to make $1M and retire as soon as possible
A few weeks later he discovered Google Mobile Ads as well as a free certification course
He was immediately hired upon completion
He started making $50k
It was until 2.5 years later that he found others on the path to financial independence at a young age
He working extremely hard working 7 days a week most of the time
He started building websites plus flipping VW vans and mopeds, and flipping domains
Today he still has over 800 domains
He began to gain a lot of traction with his main job of managing Google campaigns
He attributes this to understanding how he's perceived, knowing what value he brings, and understanding what his clients need to do to impress their boss
One tactic he had was actually writing messages for the client to express how this deal would be good for them
Then he talks about how easy it is to see the difference between someone just putting in a lot of hours and those they put out quality work
The discussion then swaps to skills which Grant refers to as the future currency
Also to make sure that you learn skills that may not tie together at surface level like analytics, sales, and coding
Great quote I don't know how to do that is no longer an excuse in this digital age
He talks about how at 18 when graduating from high school, you simply don't know what you want to be so a structured plan can be tough but you have a huge opportunity to take risks
He argues that too much personality finance writing is about cutting out things that we enjoy or being too afraid of debt
To worry more about making more money vs stressing about something like student loans
He talks about knowing where you want to go and then focusing on how much you need to make to get there instead of settling on what you think you're worth
Grant talks about knowing where you want to go and then focusing on how much you need to make to get there instead of settling on what you think you're worth
He also talks about the risks of climbing the corporate ladder and what that can do to your life and family
Then we talk about over optimizing our lives and our budgets
This ties into how much of our life we miss by not living in the moment and how Americans struggle with this more than some countries
He also admits that he gave up to much life and experiences by being so hyoerfocused on retiring
You can be just as addicted to saving money as someone who is addicted to spending it and both are dangerous
His wish is that everyone who finds themselves in a job they didn't love would take 6 months off without a concrete plan to discov...
In today’s episode, Cody and Justin bring you the boss we all strive to be. She realized being a lawyer wasn't in her future and swapped career paths to the tech industry and never looked back. While she makes a hefty income with her day job, she maintains a dedication to side hustles.
We also loved J's alternate take on Financial Independence by not rushing it. She loves her jobs and wants to be very stable. Just another great example of the many paths to FI. Episode Summary
Studied political science in college She thought she would become a lawyer Became a legal assistant at age 22 She was in Boston and then moved back in with her parents Some of her friends started blogging She started her own blog about studying abroad to help students figure out where they should study She finds an internship for the U.S. Olympic committee for digital marketing Started working at USOC in 2012 All the experimenting with her blog directly translated with her new internship at the USOC She turned that internship into a full time position where she would work with the field hockey team She still uses a lot of the same strategies she did with her first blog including hiring out some posts on areas she isn’t as familiar with and using keyword planning tools One strategy she uses is to write content that’s funny and slightly controversial She talks about the power of pintrest as the “Google of Pictures” and allows for tons of free advertising J talks about how important it is to experiment with posts and pictures early on when your readership is low to figure out what works She felt like the USOC job was great but wanted to learn from a bigger company Her focus was on tech jobs in a fortune 500 company She landed a job with an insurance company in Colorado as a project manager She cited her management of a website that she helped a startup create with $15k as project management experience which allowed her to land the job Her job was working with engineers to develop internal software She got her Master’s reimbursed and got it in Information systems Worked there for 3.5 years She networked at the Grace Harper celebration There she interviewed at a Silicon Valley tech company and made the move to California 9 months later She received the AnitaB.org scholarship to Grace Hopper Celebration She got a pay bump from the move to California Although the standard of living there is more expensive she actually lowered her expenses in Colorado by living in a tiny 1 bedroom At that time they were in debt from student loans and other various debt They became debt free in 2016 After a year of living in Silicon Valley she realized it was not for her She moved to the pacific northwest where she feels she can get the best of both worlds She loves her job so much now that she’s not hyper-focused on the retire early portion of FIRE There is a desire to spend more time with family but she worked a deal with her current job to work remotely from time to time in an office near them J’s list of best side hustles: Air BnB, Turo, and her new favorite -- Etsy digital downloads
Key Takeaways
You can never learn too many skills: J went to college for political science and now earns a majority of her money through tech and blogging. She was able to increase her perceived value by constantly gaining new skills! Design your lifestyle: Taking "risks" yields rewards. J was never afraid to take a leap at a new opportunity. Whether it was moving across states, trying new jobs, or finding a new role, her ability to take these risks vastly improved the trajectory of her life. Don't be afraid to take calculated risks! Enjoy the FI journey: You don't have to hit your FI number or reach your cash flow goals as fast as possible. J explains how she is enjoying her journey and soaking up as much as possible along the way.
Call to Action
In today’s episode, Cody and Justin bring you the creator of what we believe will be the future gold standard of Credit Card rewards accumulation, tracking, and redemption. Anik Khan started creating businesses at age 14 where he would redesign websites for thousands of dollars. He would go on to college to pick up management skills and work a few years as a management consultant before starting the rewards app called Max Rewards. The app is currently in beta but should be ready in March 2019.
You can gain early access by going over to Max Rewards and hitting download. Make sure you let them know the FI Show sent you! Episode Summary
Came to the U.S. when he was four through a lottery program his dad earned He grew up in New York on a low income He started looking for ways he could help contribute to the family When he was 12 he started learning HTML He actually ended up redesigning his middle school website At 14 he started up a website to launch his own business Some of these jobs would pay up to 19k for a project His mom was worried he was up to something illegal Throughout high school he got paid around $50k and $30k of that was profit This business started around 2005 He goes to his mentor to try and borrow $50k to really kick his business off but his mentor knew he wasn't ready because he didn't know management So he goes to college and interns with some medical offices He looked into starting a business to replace college learning management systems but realized it would be a very long time before it could become profitable After college, he got into management consulting Through his consulting at Accenture he started traveling a lot With a recommendation from his boss, he started looking into travel rewards From there he built models to track the best cards to use He's earned over $20k in travel rewards Sometimes he would even check in and out of hotels around a town while traveling to get more bonuses He also talks about stacking discounts and rewards This led him to his current venture called MaxRewards This app provides a much deeper analysis of which credit card is best for you than any currently offered Then the app helps you track which cards to get next, how to get the bonuses, what rewards you have left to use, and which card is best to use when He talks about the false information about opening up credit cards having sucha negative impact to credit scores In reality, it will probably help you or stay the same Anik starts talking about future phases of the apps that focus more on redemption instead of just accumulation This app is shaping up to combine many different applications into one extremely powerful rewards application They are starting to open the app up for beta testers currently The app is set to launch sometime in March You can get priority access to the app by going to Max Rewards and using The FI Show as a note when signing up The app is also completely free In the future, the reward redemption portion will be a premium feature This app has a bright future which started by winning the FinTech competition at FinCon this year
Key Takeaways
You may not be ready: Anik wanted to jump in head first for his first business but a mentor let him know that he needed to learn more first. There's a fine line between taking that first step and overextending ourselves. It's ok to stop and prepare so that our first big venture is a success. Listen, Learn, Iterate: I love how Anik talks about where Max Rewards is going after getting the basics solid and getting feedback. Just like agile software development, our lives should be a steady improvement with tangible outputs. Convenience is coming: One of the biggest reasons people shy away from tactics that are often associated with FI is because it's not convenient. While we could argue for and against that idea all day,
In today’s episode, Cody and Justin bring you the dynamic duo of Mike and Lauren. You may know them from their fantastic DIY YouTube videos or hearing about their huge European travels.
These two have had some interesting jobs: experimental marketing, gemologist, commercial real estate, and YouTube guru to name a few. They've never had a typical desk-job but that hasn't stopped them from being retired by age 30!
Oh, and did I forget to mention they have two kids which they gave birth to in Costa Rica? Trust me there's a lot to unfold her so you'll want to listen for sure. Episode Summary
Met when 12 Dated at 15 Married at 19 and 21 Never had a desk job but have been employed a couple times Started a commercial cleaning company in college in 2007 Got successful so he dropped out of college She moved to New York City and became a gemologist They lived with family while she was getting her gemologist certification She now stays home with her two kids She started making $50k after her 6 months of schooling He then got into this experiential marketing gig where one of his jobs was to create a mobile quicksand booth He talks about the hardest part of starting his cleaning his business was going door to door and getting told no so many times as he tried to get the word out They got their first big contract was through word of mouth but they underbid by a large margin They initially bid $10k per month and then quickly realized they needed to increase to $24k per month and their client was totally cool with it She worked at Saks 5th Avenue and Tiffany's They loved NYC but it was just too cold for them after 3 years there He did some lighting and production for a church and she worked at a friends Jewelry store when they moved back to Florida They both worked at those for 4 years and quit She quit to have their first son and he quit to go full time on YouTube in 2016 His first year on YouTube he made $20k His second year that jumped to $68k They did a 10 week trip for two across Europe for $10k which spurred the idea of doing YouTube travel videos They jump into how they still continue to travel even with kids including a 7-week backpacking trip to Europe They recommend traveling a little slower with kids and not bouncing from city to city every couple days but maybe every week After seeing some success from their YouTube channel they started making online courses They gave birth to both kids in Costa Rica They did so to get dual citizenship and avoid a lot of health care costs U.S. healthcare wouldn’t give them exact quotes while Costa Rica gave them a specific menu They gained full citizenship and their children gained dual citizenship to Costa Rica They had the affordable care act plans which allowed them to have really low cost of insurance due to their low income when covered They pay $50 per month to be a part of Costa Rica’s universal health care system as a fall back plan They retired when he was 30 and now just blog, YouTube and travel They’re cash flow FI vs the traditional large nest egg FI They completed the purchase of a warehouse were the cash-flow comes from through owner financing The warehouse needed a good bit of work that Mike was able to do mostly himself outside of some plumbing and electrical
Key Takeaways
Stability isn't necessary: We often stay focused on building careers and working our way up ladders. They showed that we can keep things fresh and do a wide variety of jobs and still make perfect progress towards early retirement. Don't assume America is the answer: They chose to go outside of the U.S. for healthcare and it was only partly to save money. They also appreciated the transparency and stated that the level of care was beyond what they would have gotten at a local hospital anyways. Challenge assumptions such as the U.S. being your option for healthcare.
In today’s episode, Cody and Justin bring you a truly optimistic outlook on getting fired. Rob from Getting Canned walks us through his story of losing his job at one of the worst times in history, in 2008 during The Great Recession.
Rob's struggles lead to finding an amazing income source and international travel opportunity all in one. Rob moves to Taiwan where he would teach English for three years and make some fantastic memories while the economy recovered.
Tune in this week to see yet another showcase at how financial independence is possible for all. Episode Summary
Recently lost his job after working there 4 years He was placed on a performance improvement plan prior to getting fired Started a blog to be a resource for people who had lost their job Created a checklist of all the things to do when you find out you may be getting fired He talks about filing for unemployment and rolling over your 401k as really important parts of the checklist Had gotten fired in 2008 and went unemployed for 2 years Decided to go to Taiwan to teach English It was an amazing experience for him and feels that it’s a great option for “Barista Fire” He was paid $20/hr working 20 hours per week His first job actually came with free room and board He stayed in Taiwan for 3 years with one 6 month break in between 2008-2010, during his unemployment, he met a lot of frustrations with applying for jobs He talks about how unemployment can prepare you for your FI lifestyle He got in the best shape of his life during that period Rob got the idea of moving to Asia to teach came from meeting someone randomly who had done it. He considered Japan, China, and Taiwan He did a Skype interview where he had to do a practice teaching session The main requirements were to speak with an American accent and a college degree He got a tourism VISA for 60 days that the employer then helped them change it to a work VISA which was good for a year His first apartment was a studio in new and in a nice neighborhood for under $400/mo He used their great public transportation system The medical care was what he found to be the biggest savings At one point he to go to the emergency room to get stitches with anesthesia was $30 He mentions the odd type of side jobs that are possible in those unique situations One was being approached to be an actor in a short because he stood out so much in Taiwan The primary language there is Chinese He learned a little bit just to “survive” He talks about how knowing English opens you up so much for travel One certification he recommended was TEFL which helps with getting some of these jobs He also recommends Upwork and Fiverr, and Wyzant as good resources for gig economy especially in times of unemployment Rob also implores people to diversify their income streams and go through the thought process of what it would be like if you lost your job tomorrow
Key Takeaways
Resourcefulness is a superpower: We see this all the time. Whether it's keeping grocery bills low, finding free furniture, or finding work. Resourcefulness and flexibility are these amazing superpowers that make financial independence almost unstoppable. It is ok to ask for help: I thought it was really humbling to hear Rob talk about taking unemployment. It can feel like you have failed but everyone has moments that they need help and it's likely you paid your fair share into programs like unemployment anyways. The world isn't so scary: This is the biggest takeaway for sure. The world can seem massive and scary but if you can read this, then you probably know English and as English speakers, we often take for granted just how accessible this world is to us. Rob barely learned any of the language and still survived just fine. He worked there for several years and even made a trip to the ER. So what's stopping you from stepping out into some unfamiliar territory?...
In today’s episode, Cody and Justin bring you one of their favorite episodes to date. Paula Pant is always conducting great interviews herself but today she's the one answering questions. She walks us through her amazing story of only three traditional years of employment, traveling the world, and the steps she took to secure her financial independence.
There is something for everyone in this episode. You've got philosophy, entrepreneurship, freelancing, and even some great real-estate tips. This discussion also gets into focusing also on increasing income and not just being consumed by minimizing expenses. Paula calls this "The gap" or the delta between your earnings and expenses. Go check out the episode for yourself and let us know what you took away from the show. Episode Summary
Grew up in a normal middle-class family where they weren’t rich but didn’t have to worry about money Paula had a desire to study abroad in college but the prices were too high She decided instead to work for a few years to save money and then travel Graduated college in 2005 and started at a newspaper making $25k per year She worked there 3 years topping out at $31k per year On the side, she was freelancing and earned an additional $25k on the side in a travel fund Quit her job and left her lease in 2008 She backpacked around Egypt, Cambodia, and other countries on a budget of $1k per month When she returned from her trip she decided to go full-time freelancing After 18 months, her freelancing was making over $100k per year She began taking her excess income and investing in real estate The rental properties are now netting over $40k She talks about how achieving in life drives her to continue to work consistently vs just doing the gig economy and bouncing around We discuss how important it is to find a job you love to do because any skill can be spun into a high paying job She talks about the pressures of growing up in a Nepalese culture and how you’re expected to either be a doctor or an engineer in order to escape We discuss how so much of the FIRE movement revolves around spending what seems like extremely frugal lifestyles when in reality it’s just normal life for so many people in America and across the world She also discusses how more of the focus should be on the income side of the equation vs the spending part of the equation This led us to the discussion of “The Gap” or the difference between earning and spending not necessarily just one side of the equation The conversation then swaps over to an overview of Paula’s real estate investing It’s clear that Paula has a passion to read and to learn and talks about how the internet has now democratized learning She gets into what she looks for in a house from both the location and physical attributes of the home and how she’s purchasing houses from a distance In 2019 she will be launching her own real estate course She talks about how financial independence gives her time to be with others and volunteer She continues to travel and was actually out of the country when the Suze Orman interview went viral We discuss her hitting $1M net worth around 30 and the changes she would make if she had to do it over again
Key Takeaways
What do you want? Paula describes how no matter what your passion is, it can be profitable enough to become wealthy and find financial independence. Her work at a newspaper was low paying but she took that same skill and passion and became her own boss and increased her salary by 500%. The gap. We loved this explanation. Instead of debating whether you should increase your income or decrease your spending, just focus on the gap between the two. Both are very important so don't let either of them become the center of attention. Just focus on the gap. What FI can bring. The examples Paula gave with what she is doing with her flexible time were so important to think about when you...
We have an extra special gift for you today that requires no wrapping paper. This Holiday special Justin and Cody go at it alone with no guest to discuss their perspectives on materialistic Christmas, a brief recap of 2018 and their goals for 2019.
We think you'll really enjoy getting to hear a little more from your hosts this week and see a little more behind the curtain on their personal lives. At the end of the episode, we asked that you start writing out your goals and sharing them with us so we can keep you accountable. You can drop those goals in a voicemail at TheFIshow.com/voicemail or look out for a thread on the facebook page at TheFIshow.com/community. Episode Summary
Materialistic Christmas Discussion
Justin and Cody discuss how their families viewed Christmas and gift giving growing up They also discuss how the Financial Independence community has changed their own views on it Justin makes a case for a materialistic Christmas being a positive thing in households where some family members never buy themselves anything that's not absolutely necessary and thus giving them the one chance per year to have something simply for enjoyment. They both discuss their most memorable Christmas gift which actually both turned out to be the thin playstation 2. It's also very clear though that they both value experiences over these items today
Review of 2018
2018 was a packed year for both of the guys Cody started the year off with 5 months in Australia...wow this whole FI lifestyle sure is restrictive Justin kicked the year off with a trip to Iceland and kept the traveling going with 2 trips to Mexico with some scuba diving, three trips to Denver, the Grand Canyon, countless concerts, trip to the Hamptons, Vermont ski trips, and attended a UFC title fight This year is also the year Cody got deep into the FI movement and began Flytofi.com and this podcast Justin spent 5 months in a hotel due to a house fire but came out of it with 2.4 million Hilton points as a concession Cody got a chance to practice his speaking chops down at CampFI south Speaking of CampFI south, that's where Justin and Cody actually first met back in September. Justin then joined Cody as the new co-host of this podcast when T.J. had to step away. So far they've seen 20k downloads but feel like they're just now gaining traction and getting their systems set up to be more efficient with their time Just has also continued his work on his own blog Saving-Sherpa.com where he gives extreme transparency into his expenses and investing The hopes behind this are to try and show people you can still live a really exciting and rewarding life while on this journey He is also proud to still maintain his $60/month grocery bill for the 4th straight year Justin's savings rate is over 75% while paying rent and living in Boston which works out to be about $24k in annual expenses His net worth grew $68k this year even with the rough markets Cody is able to save 85% of his income while living at home. This gap between his income and expenses gives him amazing flexibility!
Goals for 2019
Cody is starting the year off with a bang by stepping away from his job and going on a nationwide book tour with Grant from Millennial Money Justin looks to continue his savings rate success and build more upon his blog They are both very passionate about growing the podcast and increasing their reach You can tell they go big on goals when they set the mission for 1 million downloads before the end of 2019 They think they can do so with a mix of fantastic headliners like Paula Pant and stories that had previously never been told like Jimmy the mailman from Arkansas who is already FI at 28 through real estate The guys also want everyone to share their 2019 goals with them and keep everyone accountable
Key Takeaways
Materialism can have a place.
In today’s episode, Cody and Justin bring you a story that's just beginning. This interview with The Incredible Cash Dummy steps through a life quickly changed by having a child in high school and joining the Navy soon after. He then went for years with no financial direction.
A recent military move was compounded with his wife getting pregnant again and her losing her job, he had a major light-bulb moment. A little over a year ago he discovered the financial independence space and has become hooked. Tune in to see how he is correcting his path and taking ownership of his finances. Episode Summary
Grew up in normal middle class family where they weren’t rich but didn’t have to worry about money Then during his junior year of high school he gets his girlfriend pregnant and had his son at 17 At this point all he knew about finances was trying to avoid impulse purchases He continued living with his parents and graduated high school and working part-time at a steak house The Cash Dummy realized college wasn’t for him so he decided to enlist in the Navy He was clearing $800 per month and paying $155 per month of child support His housing and food was covered through the military and he lived on base so he was able to save His first investing was through the Thrift Savings Plan which is the military’s version of a 401k where he put in 7% of his check monthly Realized he should take his finances more serous around 2010 when he heard everyone complaining about their stocks and the recession He then noticed he had been investing unknowingly into nothing but the G fund which is government bonds that are basically just a shelter against inflation He mentions being lucky that he worked with other sailors who talked to him about finances and walked him through how all the funds work Gets stationed in Japan and where he receives some extra location pay and benefits from the yen conversion At this point he is more conscious about investing but still not a great saver He mentions how the military culture and surroundings of the base can be troublesome for young enlisted and their finances He talks about the need for military services to make financial training an annual requirement At 20 he started using credit cards which he struggled to use responsibly While he struggled with credit cards he never fell into the fancy car trap He ended up with $10k in credit card debt He got married in 2013 after 8.5 years in the military and was now an E-6 When the finances got combined their total debt was $15k They blew all their extra money on eating out and travel and only saved the 7% TSP He got promoted to E7 and had to move for his next military assignment His wife was pregnant with his third child and she was going to have to quit her job All of this led to his light-bulb moment in 2017 She took unemployment for 9 months His child support has now increased to $900 per month A coworker introduced bigger-pockets to him and showed him the quad chart video from Brandon Turner He dove in hard to bigger-pockets including the forums and podcasts That led him to all the other members of the financial independence space He sat back for a couple months trying to understand everything before he acted It then took a few more months before him and his wife were both on the same page At this point he went from 7% to TSP to 10% He borrowed against his 401k to pay off high interest credit card loans He also took on a second job for a while at $16/hr to pay off loans doing janitorial work There was a fear that all of this would negatively impact their lifestyle but they didn’t notice that at all He tried YNAB but that didn’t stick Instead he went to the Anti-budget which fit much better Now he’s started his own blog, TheCashDummy.com, to help people who found themselves in the same situation and mistakes he did
In today’s episode, Cody and Justin bring you a really interesting story full of dynamics different than their own lives. Jamila is a mother and an immigrant and both of those parts of her story helped shaped her unique path to financial independence. She was heavily inspired by the strong women in her life who passed down the qualities of saving and hard work.
Jamila also has a natural gravitation towards entrepreneurship. Whether it was previous companies she has attempted, venturing into investment real estate at 22 in New York City, or stepping away from a safe corporate job to pursue Journey to launch, it's clear that she has a passion to be different and take control of her own path. Episode Summary
Immigrated to the US at 18 months from Jamaica She had a happy childhood in Brooklyn Her mom had a large emphasis on education and reading She also gained a lot of inspiration from her grandmother Her mom didn’t really pass down investing but she did pass down the importance of saving She talks about the importance of passing down grit and making her kids financially responsible even though they’re growing up in a more privileged upbringing Fresh out of college she made an incredible real estate investment She put down a down payment on a new condo build in the DUMBO district of Brooklyn The unit she got was $338k and required a $30k down She lived with her mom for 2 years while the unit was built so she was able to save up the rest of the money she needed to close on the property The unit is now valued closer to $680k She tried starting a couple of small businesses including a magazine company Then she started a standard job that came with a really long commute Having children made her realize how important financial independence is to her She had a little breakdown on the way home stuck in traffic which was her “Ah-ha” moment After having three children she decided to step away from the standard workforce and go full-time entrepreneur through Journey To Launch She started Journey to Launch as a way to keep herself accountable Her recommendation for entrepreneurs is to just start because she learned so much from her early business failures For her early retirement doesn’t mean not working just not making it through the corporate world She is married and her husband still works which provides healthcare and the flexibility for her to build up her business Her plan is to really focus on Journey To Launch and if it doesn’t work out after two years she would be willing to go back into her corporate work She also thinks you should focus on increasing income and looking at your career to see if it’s better to avoid side hustles and spend that time to make promotions and bonuses or if side hustles are the better option Drake’s plan “God’s Plan” was the answer to the wildcard question but you’ll have to just listen to understand why!
Key Takeaways
Learn from, improve on. We are often surrounded by people who influence us whether we know it or not. Some may be more obvious like parents but it may be a more obscure co-worker. It's important to always learn from them but then try to take it one step further and evolve their idea. Learn from them, but improve on their ideas. Strengthen your "Side-Hustle Muscle". Jamila hasn't had every entrepreneurship venture succeed and she hasn't had everyone fail, but she has refined her skills with each attempt. It's like any skill or muscle, it needs practice and work. Find something low risk and just start practicing your side hustle muscle and see what you need to work on for success. Keep your motivation front and center. Jamila had that breakdown on the way home as she was stuck in traffic because it was keeping her from her kids. Too often we get stuck in a daze of the grind. We forget why we're doing it, what we're missing, or what we'd rather be doing. Don't obsess on the future so hard that you don'...
In today’s episode, Cody and Justin bring you a true the king of efficiency. A real estate junkie, Craig works over at Bigger Pockets and currently lives in Denver. From getting paid to go to college to renting out his car, Craig finds ways to squeeze money out of every aspect of life. Then you can add on the fact that he’s in his mid 20’s and you have a really inspiring story.
Craig may not head up a popular blog or podcast but I can promise you, he has some amazing insight. In this episode, you’ll get to hear his entry into real estate including some extreme house hacking. Oh, and did I mention he spends ~$500 per month on everything? It really highlights how removing auto and home expenses leaves you with an extremely tiny budget Episode Summary
Started hustling in elementary school by selling his lunch to other kids Chose his college based on an internship program that let him graduate w/ a $20k nest-egg Gets a wake-up call when his boss interrupts his weekend at Big Sur 2 years after graduating he buys his first property, a duplex in Denver His first property was $380k and 1.5 miles from his work He put down a down-payment of $17k The duplex was cash-flowing $800 per month and he lived there rent free He lived in a tiny section of one floor while Air BnB'ing out the rest With a place so close to work, he was able to also rent out his car on Turo On Turo, he was pocketing ~$30 per day...until a renter totaled the car Turo handled the insurance without a hitch One year after buying the duplex he buys his second property In the new property, he rents the rooms out individually while still living rent free With no rent and no car expense he's able to spend $500-$600 per month At 25 he is prepping himself to be set up to travel and someday start a family He uses credit cards with setting up his new properties to travel hack his trips Currently loves his job at Bigger Pockets He actually got into real estate due to the confidence he found from Bigger Pockets He chooses his properties based on location in relation to parks and bike paths
Key Takeaways
House hacking is one of the most efficient and effective ways to hit FI. If you can rent out half of a duplex (or the whole thing or if you're on Craig's level) you can eliminate your housing expense and actually make money to live! Housing is typically 33% of the average American budget. "Live like no one else now, so you can live like no one else later". Craig understands that his youth gives him an advantage and allows him to kickstart his FI journey. He can take wisdom from his elders and implement all of the strategies that they wished they had used. FU Money is one of the most powerful levers. Since Craig was able to live intentionally, amass a comfortable monthly cash flow and increase his net worth, he unlocked options in his life. He now can focus on the things he truly cares about and "peace out" from his job if he stops feeling fulfilled!
Call to Action Examine your life, determine what is excess, and cut what's not necessary! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Links from the Episode Turo (Get $25 off your first ride!)
Airbnb (Get $40 off your first stay!)
Rich Dad Poor Dad
Travel Hacking
Lifeonaire Book
Contact Craig:
BiggerPockets
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
Today we have a bonus episode recorded LIVE at FinCon with Jimmy and Jenny from Living Life Loving Us. Cody was fortunate enough to meet this amazing power couple at FinCon and immediately knew that he needed to get them on the podcast.
Since discovering financial independence, this couple has been able to increase their savings rate tremendously, maximize their income, and design a life of purpose and meaning. They also share some awesome tips about how to get your spouse on board with your financial plans! Episode Summary
When they met, Jimmy was optimizing his time and Jenny was working 16-hour shifts. Jimmy works as a firefighter and Jenny works as a nurse. Jenny hacked travel nursing by living 52 miles outside of the 50-mile radius requirement. Incurred $100K in debt from infertility treatment and paid it off as fast as possible. Found Dave Ramsey, then Choose FI, then a bunch of other blogs. Jenny thought they were “done” when all the debt was paid off … she was wrong. Jimmy tried going minimalist/frugal psycho and get rid of everything – but Jenny wasn’t having it. Then, he made her write down her top ten 10 values and that made her realize that money didn’t make them happy! After car payment was gone, Jenny had her “lightbulb” moment and now wanted to pursue FI by cutting expenses. Started at negative net worth and soon achieved a 50%+ savings rate. Recently downsized their house! Jimmy got certifications to increase his overall pay. Went from $40K to $75K annual salary in just 6 and ½ years. Cut your expenses wisely, NOT your lifestyle. Jenny started making 60K per year and now has the ability to earn 120K. However, she chooses to only work 7 months of the year and still out-earns that original 60K! Jenny leveraged her existing nursing skills to acquire additional PRN jobs in the nursing fields – she also does furniture flipping on the side during her 5 months off! Jimmy works two 24-hour shifts per week, and uses his free days to hang out with his daughter and work on the blog. They have friends that make the same amount of money, have the same jobs, live in the same area… but they’re not intentional with their spending! It’s all about focusing on what you actually value. Striving toward a mutual goal makes life easier and reduces arguments. “Fighting is inevitable. It’s the way you fight that’s important.” – Jimmy Both trying to challenge themselves in every aspect of life: physically, financially, emotionally, etc. Both value fitness and have competed in obstacle course races. Healthy eating is also extremely important to them. Traveling with a baby is great (once you get to your destination), but the journey itself isn’t so fun… They’ve already designed a life that they both love so the next five years might look eerily similar! Their total spend is between $50K and $60K per year, but they could get below $40K if travel was eliminated … might go down with newly discovered travel hacking. “You can’t live on a diet; you need to adjust your eating habits permanently. Same thing with your money” – Jenny Jenny’s parents were entrepreneurs but never had any money during her early years. After her parents achieved success, they started to give Jenny everything she wanted and the “I can have anything” mindset started to set in. One great thing she learned from them though was the power of hard work. Jimmy, on the other hand, barely spent any money to Jenny’s astonishment. The first year they met he had spent $5,000 for the entire previous year. Jimmy’s family never spoke about money, but his dad retired at 50 as a firefighter and had lots of free time. Jimmy has a pension to bolster his FI journey through his job as a firefighter. The longer he works, the more it grows, but he has the option to leave whenever he wants. Both have had health scares in the past. If Jimmy leaves his job, Jenny might get a year-round job for the health...
In today's episode, Cody and Justin bring you a true expert of the gig economy and side hustles. The great Kevin from Financial Panther. If you’re unfamiliar with the gig economy or side hustles, think Uber, Wag, or Air BnB. Kevin has used all of these new apps to bring in $1-3k per month on a very consistent basis.
Oh and don’t forget he does this while also being a lawyer. While a lot of lawyers might think it is beneath them to deliver food to college kids, Kevin sees it as a powerful tool to expedite his path to financial independence.
The other important part of this interview is how Kevin explains the ways to do these side hustles without stretching yourself too thin. We try to always stress the importance of enjoying this financial independence journey and not just rushing through it. He stresses finding ways to incorporate these side hustles into activities that you’d be doing anyway.
Own a dog? How much harder is it at that point to watch a second one for a night? Workout? Why not jump on a real bike for a delivery instead of a stationary one?
These are examples of some nuggets we got from today’s show. Hope you enjoy it as much as we did! Episode Summary
Kevin’s parents paid for his college and he didn’t even consider the financial implications of his college choice or major Graduated in 2009 in the thick of the great recession when there were no jobs available Took LSAT and decided on law school to follow up on his history/economics undergrad. Received a 50% scholarship for law school but still came out with $87k in student debt Continues living like a student after landing a lawyer gig to pay off debt as fast as possible Discovers the Financial Independence movement 1 year into debt payoff Was inspired by financial samurai, Mr. Money Mustache, and Dave Ramsey Paid off his $87k in loans in just 2.5 years while working at a big high-paying law firm Started side hustling in 2015 while still earning big lawyer money Some side hustles include Uber eats, Wag, Rover, Bird, Air BnB, and Lime He changes to a government job that came with a 50% pay cut and a little extra flexibility Takes another pay cut to work for a non-profit that came with a great deal of flexibility He talks about incorporating gig economy jobs into his normal day routine For him, side hustles that involve driving his car came with the least return on investment Kevin makes somewhere between $1-3k per month on side hustles He even makes money on dumpster finds He equates the gig economy as a pseudo emergency fund Has ambitions to step away from working to blog full time Kevin makes a great comparison that $10k in side hustles is equivalent to $250k in investments for those that follow the 4% rule
Key Takeaways
Your income isn’t everything. Kevin shows that by not taking one but two pay-cuts to add in flexibility. It means he's not only happier but also has more time to pursue outside passions that could very well become more and more profitable. There’s money everywhere. He found money in the trash! Just actually just furnished most of his home from free craigslist items that he could have sold if he wanted too. Kevin does it all though. Deliver food, walk dogs, rent rooms, and more. The beautiful thing is that you don't have to do much of the legwork. The jobs are waiting for you, so what are you waiting for? You might be closer to retirement than you think. Our favorite insight with this interview was the idea that $10k in side hustles is equal to $250k in investments if you're following the 4% rule. That means you could be a lot closer to at least taking some time off if not actually retiring by picking up some side gigs!
Call to Action
Analyze your daily routine and find something you can do to make that $5k per year! That’s only $13.70 per day
Side Hustles Mentioned
Uber Lyft Rover Wag Bird Lime Airbnb UberEats
In today's episode, Cody and Justin bring you an interview that is guaranteed to be a new one for you. This is the story of Jimmy Ridenhour who, unlike most of our guests, has no blog, book, podcast or ever been on a podcast. That doesn't mean his story isn't remarkable.
Jimmy's story starts out with a very tragic start that involves murder and family turmoil but he amazingly finds his way to success and has an unmatched amount of positive vibes when you meet him in person.
After that tragic start, Jimmy landed on his feet literally as a mailman at age 18. While most people his age were racking up college debt, he was bringing in upwards of $80k a year while he put in 70+ hour weeks. This allowed him to purchase his first home for $125k and have it paid off at age 23. Now he's 27 with five properties and already has an income stream that would allow him to be financially independent if he wanted.
This is a can't-miss episode! Episode Summary
Jimmy was born in the outskirts of NYC Migrates to Arkansas around 3 years old His father gets murdered while going to sell his car Life becomes chaos as his mother struggles with depression and substance abuse Splits time between his mom & grandparents until 12 then moves to grandparents full time He started learning work ethic and business from the new family he was living with From age 12 to 16 he saved $5k from small-town jobs He decides to follow in his Aunt’s footsteps in working at the Post Office to hopefully have her normal life vs his chaotic one He creates a postal profile at age 16 in hopes of one day becoming a postman Then his grandmother passed away and his grandfather developed Alzheimer’s At 18 he’s eligible to take the postal exam & scores high enough to get hired right away He starts working 70+ hours a week At age 20 he buys his first house for $125k which he paid off at 23 through high savings rates and house hacking via a roommate Saving $80k in those three years while making a range of $50-80k per year He talks about shaking the scarcity mentality but also keeping his very low budget lifestyle He’s currently making 55k per year His boss sold him his second house for $50k and which he puts $13k in for fixes Gets deeper into BiggerPockets and starts crushing podcasts while delivering mail for work Finds his 3rd home through a family member for $30k and knocked out all the fixes himself Finds his 4th home for $40k which appraised for $65k that only needed a quick paint job He discovers Paul Thompson from Ready Investor One and got involved in his first Wholesale purchase for $47k, invested $20k, sold it three months later and profited $18k even though he contracted out 90% of the work He highly recommends doing all the work yourself in the beginning so you can negotiate better with contractors and protect yourself from getting taken advantage of. His plan is to end up with 12 rental properties total His expenses are currently so low (~$1300/mo) that he’s already financially independent with the 5 houses he has He’s currently cash flowing over $2k per month through his rentals at age 27 Recommends using Mr. Landlords how to find a good tenant scoresheet when filtering out tenants He manages all but one property and is now experimenting with the one property manager to hopefully someday step away and allow all his properties to be managed His #1 tip is to just get started because you’ll learn so much from the first house And trust me you won’t want to miss this week’s wildcard question about the most insane date Jimmy has ever been on!
Key Takeaways
Your past can't define you. Jimmy had an incredibly rough start and is still somehow so far ahead of almost anyone I know. This financial independence journey isn't reserved for kids with parents who taught them the value of money at a young age or who paid for their college.
In today's episode, Cody and Justin interview one of the real originators in the personal finance space, J.D. Roth from Get Rich Slowly. Join them as they dive into J.D.'s financial backstory and learn how he took his own journey to conquer finances and turned it into a successful business. He gives us full transparency and shows that it hasn't always been easy or profitable.
When J.D. first started he was publishing articles daily...as bloggers ourselves that seems outrageous. We chronicle his financial journey and what it looks like to build up a digital business, sell it, and reacquire it all over again. You won't want to miss this one. Episode Summary
Started posting on the internet in the early 90's Began writing to document his journey in gaining a healthy relationship with money 2005 he writes an article titled "Get Rich Slowly" which really took off This article became a successful blog and he was able to quit his job Becomes devoted Dave Ramsey follower and works his way out of debt in 2007 Recommends an emergency fund in an alternative bank with no ATM card for those that struggle as he did Get Rich Slowly grows to getting 1M+ page views The stress of the site, however, becomes too much so he sells it in 2009 for a large yet undisclosed amount of money He stays on to help run the site until 2012 2015 he returns to the blogging arena with his new site "Money Boss" In 2017 he decided to reacquire Get Rich Slowly Get Rich Slowly is currently losing thousands per month but he is developing plans to make it profitable without compromising his personal ethics
Key Takeaways
Overnight success is an illusion. We see so many of these stories on podcasts like ours were someone makes a really nice living just by typing out some thoughts on a page. In reality, it's not that simple and it doesn't happen that fast. J.D. has been running a blog for 20 years and has probably spent more time working on the blog than I want to work in my entire life. Don't get frustrated when you're not earning profit right away, no one does. Personal happiness over profit. J.D. found himself in a dilemma that most people probably wouldn't find sympathy but that is still a real issue a lot of us have or will face. He was making really good money but his personal life wasn't following the same success. The pressure he put on himself to make the blog a success was too much. What is all the money worth if it takes away your happiness? As you do get off the ground and turn profitable, don't neglect the happiness around you that is so much more valuable. Authenticity is the best attribute. Looking to grow your audience? Let them see you. The real you, not the you that is always happy and makes every correct investment choice. Let them see you at your worst and your best. Invite them into your life and they will come away with a much stronger connection and loyalty to you and your brand.
Call to Action
Sit down and think about what you want your life or business to look like. What are you willing and not willing to do to succeed? What do you want to be known for? What value do you want to give other? Answer these questions early and commit to them. They will be much harder to make a priority if you wait until profits start coming in and turning away from your values can quickly cause the profits to evaporate too.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] thefishow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Links from the Episode The Article that started it all - "Get Rich Slowly"
Dave Ramsey's Baby Steps
Contact J.D. Roth:
Get Rich Slowly
In today's episode, Cody and Justin interview Michelle Schroeder-Gardner from Making Sense of Cents. Join them as they dive into Michelle's financial backstory and learn how she took her issues with student loan debt and turned it into a passion that ultimately became super profitable. While Michelle did retire from her job at 24 and is now living it up sailing around the world, she is still grinding away on her blog and saving a ton of money. This really shows you that no matter how much money you have, your core values remain the same.
Michelle is also trying to help other aspiring bloggers follow in her footsteps through her affiliate marketing course. We hope you enjoy some time getting a behind the scenes look at one of the biggest success stories in financial independence who remains extremely humble and true to her beliefs. Episode Summary
Michelle started blogging in 2011 anonymously simply as a hobby Was living paycheck to paycheck and paying off student loans Spent 30-40 hours a week while also working 50 hours at her full-time job In 2013 she quit her job after reaching consistent earnings of $5k-10k per month On top of blogging she was also staff writing and managing accounts for other blogs A year later she quits all work but her blog and her income triples Remains very frugal to date while earning $1.5M annually from the blog Spent some time living in an RV Currently can be found traveling the world by boat
Key Takeaways
There's no substitute for hard work. Michelle was working an additional full-time jobs worth of hours just on her blog. Remember that she wasn't making anything in the early days. She talks about the first 6 months and how many people quit. Build a solid plan and stick to it. Find the hustle you love. This goes hand in hand with the first takeaway. You will burn out and fail if you aren't truly passionate about this additional work. We can all tell when an employee hates there job through their performance. Imagine how bad your performance will be if you're not enjoying it or being motivated by money. Less is more. When starting any new venture we try to spread ourselves so thin becoming experts in all facets. She's living proof that removing some distractions and focusing on a specific area pays off. Her profits actually tripled! You are who you are. Yes she is living an awesome life and making a ton of money but she still chooses to save over 90% of her income. She could afford to do so much more but doesn't. She continues to follow the principles that got her to where she is today. When you retire don't fear that you'll completely change and begin wasting money. It's actually more likely that you'll come away spending less than when you were working full time.
Call to Action
Analyze what you love to do or what you'd love to understand better. Make a list of the top three things. Then begin researching one you are truly passionate about. One that you would work on for free even when sleep deprived. Now take that and start working until you build something worth monetizing. You are much more likely to succeed and will have fun either way.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] thefishow [dot] com
If you like what you hear, please leave a rating/review!
The FI show on iTunes
The FI show on Android Links from the Episode Michelle's Affiliate Marketing Course
Free Facebook Group
How to Start a Blog
Contact Michelle:
Making Sense of Cents
Instagram (You won't want to miss these awesome travel photos)
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
In today's episode, Cody and Justin interview Chad aka Coach Carson from CoachCarson.com. Join them as they dive into Chad's financial backstory and learn how he realized that he couldn't become another member in the rat race and turned to real estate to create an impressive portfolio of rental homes. He now has a huge following of people looking to follow in his footsteps to financial independence through real estate. Chad is down to only devoting 1-2 hours a week to his rental portfolio and instead spends his time traveling, spending time with his wife and kids, and luckily for you, coaching members on how to own the real estate game just like him through his blend of free and premium online courses. You also won't want to miss out on his new book Retire Early With Real Estate.
Make sure to listen to the full episode for details on how to win your own free copy! Episode Summary
Chad got his first experience with real estate doing the dirty work on his dad's properties at age 11 While attending college and playing football for Clemson he looked for a way to avoid a corporate career His real estate journey starts with just $1k at age 23 Started small to protect his downside Before getting into rentals he would find flip opportunities for other investors Chad talks about leveraging the bigger pockets community to get started Connects with one of his business professors about real estate The professor is still a money lender today Rode out the downturn in 2008 markets by building cash cushion from rental incomes At one point bought up to 50 properties per year When searching for properties, look for properties that others are scared of Chad didn't know how to do any handyman work Leveraged referrals to find quality contractors for your properties Buying properties may not be for everyone but house hacking can be Spent 17 months in Ecuador just living off of rental properties Wrote a book detailing his insights on real estate called Retire Early With Real Estate Now looking for his next opportunity to give back and make the world a better place
Key Takeaways
Leverage the networks available to you! Chad mentions getting his first real start with investing came from chatting with a college professor from a class he wasn't even enrolled in. Then he mentions the great resource in Bigger Pockets. Basically, you don't have to go into this blind or alone. Be efficient. Don't try to reinvent the wheel. When looking for quality contractors, property managers, or any other service you need, utilize referrals before simply cold calling. When you do get those contractors hired, tag along and try to learn a new skill yourself. Be set up to avoid the downturns. Chad was quickly faced with the worst real estate market turn we may ever see in our lifetime. He survived by pumping all the cash income back into his properties and not wasting it on increasing his lifestyle. Never mistake early success for being bulletproof. Find deals with room to pay for the work. The point of finding all these deals is to create a portfolio of income streams so you can stop working and find financial independence. If find deals that can only make money with you doing the work, then you are just swapping whatever job you have now for a new one. That's not the point so make sure you earn enough to pay someone else for the labor. House hacking comes in flavors. The biggest expense most Americans have is housing. If you can find a way to have someone else pay your mortgage, you have just made a huge step towards financial independence. This could be having roommates, neighbors in a duplex you own, or even a live-in house flip. Regardless of your situation or your zip code, don't disregard the idea of house hacking.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI show...
This is the biggest news we've shared with you up to date! Unfortunately, TJ had to step away from FIRE Below Zero for family reasons, but the show goes on!
Cody has teamed up with Justin aka the Saving Sherpa, to present to you ... The FI Show! We are so excited to move forward with this new project and we appreciate you supporting us during this transition.
So, what does this mean for you listeners? What's Different?
We are going to make this transition as seamless as possible. Any links from FIRE Below Zero will be automatically redirected to The FI Show. You don't have to worry about remembering the new URL! Our social media accounts will stay the same, but the handles will change. We appreciate all of you who are already part of our community, so we decided not to start from scratch. Our new handles on Twitter and Instagram are @thefishowguys. Our Facebook Group and Facebook Page will be renamed as The FI Show (currently still working on this). Cody and Justin have some exciting new episodes in the pipeline. We want to bring something fresh and new to the show! We will still have the normal interview-style episodes you're used to, but we want to spice it up a bit as well! Stay tuned. This show is all about you! We are going to do our best to engage with the community as much as possible. With your help, we can make The FI Show amazing. Please don't hesitate to reach out to us with questions, suggestions, and comments!
Join the Community! We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Sign up for our exclusive newsletter Leave us a voicemail Join our Facebook Group Send us an email: contact [at] theFIShow [dot] com
If you like what you hear, please leave a rating/review!
The FI Show on iTunes
The FI Show on Android
Again, thank you all so much for your support and we can't wait to grow this community and show you what we have in store!
See you next week.
In today's episode, Cody and TJ interview Jillian from Montana Money Adventures. Join them as they dive into Jillian's financial backstory and learn how she overcame substantial adversity. Now, Jillian spends her time blogging, life/money coaching, and running a Mini-Retirement Course. Episode Summary
Jillian grew up in poverty From a young age, she knew that money = options... she was always looking for chores to earn an extra 25 or 50 cents. She attended a bible college after high school and managed to save $8,000 during her time there Got married at 19 and adopted her first child at 21 Bought a camper for $5,000 and lived in it for a year Moved to Germany for several years Came back to the U.S. and bought a rental property Eventually bought two more rental properties Adopted 3 more kids and had one more kiddo with her husband Reaches financial independence at age 32 Allows children to make mistakes with money while the sums are small Only allow for a finite number of "cares" each day Jillian's 5-value system and 3-by-3 principle "Do what you love and expand your impact" Jillian talks about her life coaching, online courses, and day-to-day activities How to overcome your sticking points Find the source of your problems. Instead of swatting at the spiderwebs, try to kill the spider
Key Takeaways
Start your financial journey as early as possible! Money mistakes hurt a lot less when you're young and the sums are small. Jillian allows her children to understand the power of money by making money mistakes. It's never too early to start learning about personal finance! Conserve your "cares". Jillian only has a finite number of "cares" each day. She saves each "care" for the things are truly important. Don't let the minutia bog you down! Design a life that is so aligned with your passions and values that you never want to retire. After Cody asks Jillian when she plans to retire, she responds by saying that she never plans to "retire". She is so content with her life because she has aligned her passions and values with her daily activities. If you study yourself and understand what your purpose and mission are, you can do the same! Stop swatting at spiderwebs... kill the spiders. Often times, we misdiagnose our own problems and end up fighting the wrong battles. Jillian describes these misdiagnosed problems as "spiderwebs". Instead, we should focus on killing the spiders! Your time and energy are the most scarce and limited resources in your life. Some people think that money is our scarcest commodity. Jillian flips this ideology on its head and explains that time and energy are actually much more scarce than money.
Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community!
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
If you like what you hear, please leave a rating/review!
FIRE Below Zero on iTunes
FIRE Below Zero on Android Links from the Episode Jillian's Mini-Retirement Course
Contact Jillian:
Montana Money Adventures | Twitter
Three-by-Three Principle
Jillian's Five Values
Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)
The first portion of this podcast is feedback from last week's episode: The Low-Hanging Fruits of FI.
Anonymous talks about Project FI and tells us about calling to get cell phone data reports. Cody's mom asks us to clarify how WiFi works. Luke from Forming the Life talks about the power of automation. Jeremy corrects Cody about AskTrim and mentions Truebill. Mike weighs in about Sling TV for watching football. Emily tells us about saving money on groceries with Checkout 51.
Camp FI South The second portion of this episode was recorded LIVE from Camp FI South! Whitney Hansen of Money Nerds, Paul Thompson of Ready Investor One, TJ and I all asked the attendees to share their #1 takeaway from Camp FI. Enjoy!
Doc G – “Knowing that you have a group of people to support you at a hard time in life, who come to the world with the same worldview is really magical”
“Content creators tend to shout at the world, but there a lot of people out there who are whispering and if you listen closely you can learn a lot.”
Contact him at Diversefi.com!
James Lowery – “You don’t need as much… it seems like it takes a long time to see any progress, but then once you notice the progress it’s already taken off at that point”
Contact him at RethinkTheRatRace.com!
Ruth Bresnahan – “Personal growth is the most important thing. If you’re not experiencing personal growth, then your quality of life will go down no matter where you are in the journey”
Justin Taylor – “Stop being so focused on this large nest egg number…giving me that confidence to step away and make it all work out”
Contact him at Saving-Sherpa.com!
Captain DIY – “Remove the idea of the nest egg number and take away the money aspect. Learn to enjoy the journey… The FI journey itself is such a growth experience”
Contact him at DIY2FI.com!
Doug Nordman – “I did not expect the level of interest in raising a money-smart kid… I’ve learned as a blogger that when you get the same questions over and over again you probably should write about it”
Contact him at The-Military-Guide.com!
Stephen Baughier – “I appreciate you guys coming this weekend, and all of the other people who are listening who have come to a Camp FI previously this year, I appreciate you for being a part of this and hopefully we’ll have a successful 2019 and make more connections.”
Contact him at CampFI.org! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community!
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
Links from the Episode Camp FI
______
Project FI
Unreal Mobile
Ask Trim
Truebill
Sling TV
Project FI
Ready Investor One
Money Nerds
Forming The Life
Diversefi
Rethink The Rat Race
Saving Sherpa
Diy2fi
The Military Guide
Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)
In this week's episode, Cody and TJ discuss the low-hanging fruits of FI. These are the changes you can make in your life today, tomorrow, next week, next month, next year, and so on that can drastically improve your financial position. Tune in and get ready to pick these low-hanging fruits! Episode Summary Housing:
Makes up 33% of average American household expenditure House hacking – Purchasing a primary residence and renting out units/bedrooms in order to subsidize the cost of your housing. Downsizing / Living Below Your Means – Find the most affordable housing option in your area that suits your needs. This strategy is less extreme than house hacking, but still a powerful tactic for reducing your monthly expenses.
Transportation:
Makes up 17% of average American household expenditure Leasing a car is one of the worst financial choices you can possibly make. You are literally throwing money out of the window. Don’t do it! Buy a car outright. Find something that is fairly cheap and if possible, pay in cash! If you need to make monthly payments, pay it off as soon as possible. Never buy a new car. The car loses more than 20% of its value the second it leaves the lot. Find a used car that’s “like new” and save yourself from giving up your hard-earned dollars. Stop trying to keep up with the Joneses... Cody and TJ bet that you can find a decent car for $10,000 or less.
Food:
Makes up 13% of average American household expenditure When grocery shopping, make a list and stick to it! Cody recommends the AnyList app. However, if there is a similar on-sale item to an item on your list, go for it! Do what makes sense. You don't need to spend hours clipping coupons to save $0.35 here and there. TJ highly recommends Aldi... he spends $50-70 per week for a family of three and claims that he "splurges"! If there isn't a location near you, figure out which store has the best deals and shop intentionally. Limit eating out at restaurants. Once in a while is okay, but too much eating out can substantially impact your ability to save money.
Services:
You have a lot more power than you think when it comes to service companies. Whether it be insurance, power, or electric -- these companies want your business! Shop around, pick up the phone and negotiate your rates. If you don't want to call the companies yourself, sign up with AskTrim and they will negotiate your rates for you! They take a 33% cut from whatever they save, but this completely eliminates the efforts on your end.
Discretionary Spending:
Cody and TJ are a bit more lenient in this category if and only if you have a solid financial footing. If you've done everything else right, a Starbucks coffee won't break the budget. However, if you are living paycheck to paycheck, these are things you need to cut out! Track which clothes you actually wear. Donate what you don't! Cody cleared out 75% of his closet and feels great.
Phone, Internet, Cable:
Cut the cord on cable! You can just have WiFi and watch your favorite shows and movies online. Use an HDMI cord to hook up your computer to the internet. Don't get suckered into the fancy bundles. C'mon... you don't need a landline. Some cheap cell phone plans include Project FI and pre-paid plans. Stop paying for crazy, unlimited data plans and switch to something cheaper!
Football Season
You don't need cable to watch the game! Every NFL game is available on Reddit.com/nflstreams. Or, check with your local channels to see if any games are available.
Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community!
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
Links from the Episode The Company Men Movie
AnyList Grocery App
Aldi
AskTrim
Project FI
Unreal Mobile
PT Money is the founder of FinCon and a personal finance blogger at PTMoney.com. In today’s episode, I get a chance to interview him LIVE at FinCon to share his financial journey. Episode Summary
Around age 24, PT realized that he was “not moving forward financially”. He describes how he “had debt” and “wasn’t saving at all”. After discovering Dave Ramsey, PT used the debt snowball approach to pay down his loans. Diving deeper into the rabbit hole, PT started reading personal finance websites and learning that he should max out his 401K, IRA, and HSA accounts. PT’s savvy investing was mainly driven by his “anti-government, anti-establishment” mindset and the notion of “reducing taxes as much as possible”. In order to further advance his financial position, PT started to automate his contributions and invest in a taxable account (after maxing out his pre-tax accounts). Around this same time, PT started his blog PT Money in order to document his financial journey. He soon discovered that this “hobby” could earn him some real money. He went from earning his mortgage payment, to 1/3 of his W2 income, to ½ of his W2 income before quitting his day job in 2010. Running PTMoney.com soon became his day job, so naturally, he needed a new side hustle! In 2011, FinCon was born! PT was not satisfied with the other personal finance conferences he attended, so he decided to start his own. He created a map outlining the location of all of his personal finance blogger friends. After careful deliberation, he decided that Chicago was the best location to host his first event. In order to make the event successful, PT diligently studied other conferences and leaned on his network for their expertise. He says “I tend to lean on people I trust”. The first FinCon had nearly 250 attendees (compared to the 30 expected from PT). At this LIVE FinCon 2018 interview, there were OVER 2,000 people at the event!
Key Takeaways
Just get started! – PT says that he had no idea what he was doing when he first launched his blog in 2007. He just “leaned into the passion and put down the distractions”. Fortunately, he quickly realized that this hobby of his could bring in some real money. His advice to aspiring entrepreneurs is “don’t feel like you need to jump into it… don’t be afraid to do it on the side”. It took PT three years after starting his blog to quit his day job, you don’t have to take a crazy entrepreneurial leap if you don’t want to.
Leverage Your Network – Having a strong network is so powerful for an entrepreneur. PT leaned on the expertise of his friends and colleagues to make FinCon successful. His first three employees were all friends from college! He warns “don’t feel like whatever you've created needs to be solely under your control or in your name.” Open-source entrepreneurship allows you to play to your strengths and to let others complement your weaknesses. Don’t be afraid to leverage your network!
Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community!
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
Links from the Episode PT Money | Twitter
FinCon 2019
Dave Ramsey
Consumerism Commentary
Bargaineering.com
Automatic Contributions
WordCamps
Blog World Expo
Affiliate Summits
Fly to FI (Cody’s Blog)
In today's episode, we get a chance to talk to Lily from The Frugal Gene about her accelerated path to financial independence. By choosing to avoid lifestyle inflation, Lily and her husband are able to save 90% of their income. The crazy part is that she thinks this is "normal"! Tune in to hear her incredible story about intentionality, happiness, and frugality. Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community!
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
Key Takeaways
You can never be too careful - Lily highlights the insane returns that investors have enjoyed during this bull market. She advises that you should build some kind of side income streams, or wait until the next recession hits before you pull the trigger on early retirement. Even though Lily and her husband are at FI by most standards, she suspects that they will continue to work for 10+ years in order to build a colossal safety net. Live the life you want to live TODAY - You don't need permission to pursue your dream lifestyle. Create a plan and take action! You don't have to take the "normal" route and suffer for countless years at a job you don't enjoy. If you don't like something... don't do it! The benefits of a high-cost-of-living area - If you are intentional with your money and with your savings, you can thrive in a HCOL area. Here are some of the benefits that Lily explains: Ability to charge higher rent, tons of free activities, access to public transportation, and more!
Links from the Episode The Frugal Gene (Lily's Blog) | Twitter
Airbnb
Mr. Money Mustache
Financial Samurai
Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)
How to Get a Full Ride to College Noah and Becky worked as Caddies all throughout high school, making a good amount of money during the summer, but most importantly earned a full-ride scholarship (The Chick Evans Scholarship) to Purdue University (tuition and housing).
This set them up to graduate college without debt. Because of the intentionality of both Noah and Becky and their parents they started their career at a zero net worth vs a negative six-figure net worth like most couples today. One too Many Promotions After graduating and finding the concept of FIRE, Noah and Becky saved diligently, because they wanted to be responsible with their money.
Their saving and investing really found purpose when work became so stressful. Becky had risen up the rungs of the corporate ladder, and found herself feeling very stressed.
This is when FIRE became a logical alternative. Build up enough cash reserves to walk away or take a Gap year, which they are doing at this point. The Gap Year FI After coming up with the plan to take some time off, Noah and Becky begin to take action toward realizing that goal.
They liquidated everything in their house and began renting it. They got a storage unit to shelter some of those important keepsakes, and then they hit the road in their Mazda 3 Hatchback.
Noah and Becky are traveling the country together, with a very modest amount of items, but most importantly they are having the adventure of their lives together, seeing these amazing sites all through the country, but also stopping to spend time with friends and family along the way. Funding the Gap Year Noah and Becky made the plan to fund this trip without drawing down on any investments. So in the months leading up to taking their gap year, they saved cash outside of retirement accounts, specifically to fund this trip.
They racked up a ton of travel rewards, which has helped them supplement their trip. Back in Seattle Noah and Becky were spending somewhere around that $60,000/year threshold, now they are traveling the country full time, having the trip of a lifetime, and only spending $40,000/year! 75 Credit Cards to Free Travel Noah and Becky discovered travel hacking on Reddit. They quickly implemented the strategy, churning credit cards (opening new credit cards for the sole purpose of banking introductory signup offer).
With each card having a $500-$1000 value introductory offer, they have earned approximately $50,000-$100,000 in travel credit to make travel more affordable and enjoyable.
Anybody can repeat this strategy! You can get started with your first card today by applying through our travel rewards partner.
What could you do with $50,000 for travel?
We know this is an awful lot of money, but this strategy is not so difficult to implement. It’s about making the intentional choice. What about your Credit Score? Most would assume that Noah and Becky would have taken huge hits to their credit score by applying for 70+ plus credit cards….. But the opposite has actually happened.
Their credit scores continue to go up as they have more accounts, all having on-time payments. They have found their scores in the 800’s now because of it. The Ultimate Redemption For their honeymoon, Noah and Becky traveled to Fiji and New Zealand. Spending about a week in New Zealand and 2 weeks in Fiji, having an absolutely amazing time, but only spent about $500 total for the trip.
The actual retail value for the 3-week trip that they took, would have cost about $14,000, yet they managed to do it for only $500.
This is the power of travel rewards!
As incredible as this sounds we all can implement these strategies, simply by starting to take action today. Fitness and FIRE Noah and Becky are very interested in physical fitness, as money is not the most important thing on this journey, it is important to stay on top of health and fitness.
Noah has competed in the World’s Toughest Mudder,
Starting from a 3rd world Country TJ shares his story and what life was like growing up in Nigeria. Born in a middle-class family, his father instilled basic money ideas that have stuck with him even as he pursues financial independence.
He learned from his father to be frugal, and intentional with money. Only focusing money on things that bring true value to his life. Always Capitalize on Opportunity TJ shares how there are only so many opportunities growing up in a third world country. However, being in the US, or other first world countries, we have so many more opportunities available to us. And it is so important that we take full advantage of them. “a lot of times our world gets so small” This quote is so powerful and true. We forget that all over the world there are millions of people who do not have access to the opportunities we have. We should always recognize that privilege and always capitalize on these opportunities. Believing in the Midst of Adversity After earning his Masters in Mechanical Engineering TJ struggled finding work. It was the lowest point in his life, and it forces him to grow as a person. In those days, TJ and his wife had a combined household income of $24K/year.
He credits The Alchemist, as the spark for finding hope in the midst of a hopeless situation. This was what broke the chains and made him start making changes. Finding Personal Finance After picking up reading, TJ found Dave Ramsey, who first introduced him to personal finance and other money concepts.
At this point, their income had significantly increased, as well as their savings rate. The first couple years focused on paying off debt as Dave suggests. After the debt was gone, it was time to move on to bigger and better things! Starting a FIRE Naturally after graduating from the Dave Ramsey mindset, TJ dove deep into the personal finance world, and found the concept of FIRE.
Following other bloggers, and learning from them, TJ and his wife started to implement these strategies that have essentially changed their life!
“The people that are doing this are no better than you”, we can’t stress this point enough. You only need to make an intentional choice with your money to crush the FI game. Think Differently Our message is to be more open-minded. VTSAX is an awesome investment lever, but it is not the ONLY way. We want to encourage people to be more open-minded, and learn all these different strategies that exist out there, like possibly investing a small portion of your net worth in single stocks.
Or using leveraged real estate to build wealth vs buying 100% cash down. We want to be open-minded enough to explore all these strategies. Focus on Growing Income Don’t settle for a $20K a year income. Let that be your starting point. Each one of us has the capacity to make more income, we just need to pick up more skills to command more income in the marketplace.
It is not about putting anyone down; it is about encouraging people to reach their full potential.
Random Fun Facts: TJ had his first McChicken at age 17!!! Join the Community Thank you so much for joining us for another episode of the FIRE Below Zero Podcast. Here are some awesome ways to say in touch, and always have these ideas and strategies at your fingertips
Join our Facebook Group Sign up for our newsletter Leave us a voicemail
Resources Tools of Titans
The Alchemist
Personal Capital
Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)
How to Find FIRE Being naturally frugal, Brad kind of stumbled his way into FIRE. After starting the 9-5, Brad anticipated working like the typical employee and retiring at age 59 ½ with millions of dollars.
Before long on this path, Brad came to the realization that he didn’t find a lot of joy in spending a lot of money. That is when the FIRE was sparked and Brad dove in headfirst into learning more about escaping the hamster wheel. Getting Your Spouse on Board Brad and his wife Ashley have always been on the same page with money. They both realized that spending money on frivolous things was not a priority. Rather saving and focusing on happiness outside of material things was their top priority.
Brad’s Tip on Marriage: Make sure you are looking for a spouse that has a similar mindset as you about money.
Otherwise, you will have a lot bigger issues than money down the line! The Limiting Belief of the Cost of Having Children There is a popular misconception in the FIRE community, that kids cost too much money, and that they can be a drain on finances. The truth is, it doesn’t have to be that way. Yes, diapers and baby food, and toys cost money, but if you are intentional about finances, having children shouldn’t drastically affect your budget.
Another mistake we make is ripping the things that bring our kids joy, out of their hands BECAUSE it costs money. And that is just no way to live, they are the reason we pursue FIRE, we shouldn’t make their lives miserable to save money.
Traveling with a kid isn’t easy, Brad and his wife are constantly tiptoeing around the RV at certain hours because their daughter is asleep, but it’s all worth it for them. Actionable Quote: “You just lean into that discomfort and go with it!” Making the Jump from Banking Brad started his career in banking as a financial advisor after studying economics in college. He quickly realized 6 months into his career, that this wasn’t the life for him, and he started plotting his way out of this “lucrative career”, literally willing to accept any job that came his way.
Next, he landed a tech job using Salesforce as a junior administrator. He leaned into the career and gave it 100% effort. Within 6 months he was stacking certifications which ultimately led to him making more money.
He went from $36,000 a year to $110,000 within 2 years! Designing a Life Worth Living When Brad found out he and his wife were expecting, he decided to transition to part-time work as a sales force consultant. He could have continued along the trajectory he was already going, but he decided to spend more time with his wife and daughter were much more important.
He messaged local companies via LinkedIn looking for part-time work. One gave him a shot by means of a 2-week contract, and he absolutely knocked it out of the park. Starting Your Own Company With all the freed up mind space from going from working 60-80-hour work weeks to only working 20 hours a week, Brad decided to step outside of his comfort zone and start his own business.
Again, as we see consistently in Brad’s story, he jumped in head first, started his company over a weekend and started taking on new clients.
Now he is only working 25 hours a week and making over $150,000 a year
Brad’s Actionable Tip: Google “your state” + “how to start an LLC”
I know it sounds funny, but it is really that simple, yet most people won’t do it! Traveling the Country Brad and his wife are traveling the country in an RV. This isn’t something that has been a lifelong passion for them. They literally heard a friend talking about it one day, and in 6 weeks they had rented out their house bought a truck and RV and hit the road.
Brad and Ashley hardly stay places longer than a week. They are constantly exploring new spots ad locations. Trips are planned not much more than 2-3 weeks in advance. They just dive in and explore! Quote of the Episode: “Back yourself into a corner and figure out ...
What FIRE Means to Us Cody and TJ share their biggest reasons for pursuing financial independence. On their path, they’ve learned that money is just a tool, and it should not control your life.
This concept simply allows you to buy your time back. It allows you take back control of your future, and focus all of your waking hours on things you are absolutely passionate about.
This what makes FIRE so important!
Highlighted Idea: Cody says he is “not getting the best use of his life hours” by crunching numbers behind a desk or working on projects that mean nothing to him. A Backwards System TJ highlights how we have been conditioned from a young age to pursue things that don’t matter…. Like getting a good degree, so you can find a good job, to make the most money.
What’s sad is, these things are never enough. So we double down, in hopes of getting a promotion, or a 10% raise. These things mean nothing!
FIRE frees you from that hamster wheel mentality. Instead of going down a path that leaves you stuck for 40 years, spend the next 5-10 years designing a life you can’t wait to live! The Trappings of the Hamster Wheel Stop spending your money and all of your paycheck trying to keep up with the jones. When all you do is focus on buying new stuff, you literally trap yourself I the 9-5, with no possible means of escaping.
“They cannot leave their job no matter how miserable they get, no matter how much they hate their job, they cannot leave…”
Does this sound familiar? This is the sad reality many Americans are living today! Make a change. Choose a different future! It Takes Introspection These days we are constantly bombarded with ads about how inadequate we are. And about how we need all these external items to make us happy. So we spend 40 years doing the same thing every single day, in hopes of catching that ever elusive leprechaun…. Happiness!
It takes introspection to realize that all you really want is your time back. Time to spend with family, and loved ones.
FIRE will set you free! It is Simple Math Cody highlights an actual example, take the example of a person spending, $2,000 a month to rent a house, and $400 a month to lease a car. Just by being intentional and finding a way to cut those expenses I half, they can save close to $15,000 a year!
Just choose value over keeping up with the Joneses. By making these types of choice in multiple other aspects of your life like this, it is easy to understand how one can quickly save tons and tons of money. Life After Retirement Both Cody and TJ are on the fast lane on the path to FI. TJ is realizing that he may want to pull the retirement trigger even long before officially hitting FI. When you find your passions, those are the things you want to spend most of your time doing.
FIRE allows you to find yourself
Cody’s post-retirement life involves not only podcasting but teaching kids in high school and college about money and finances, traveling the world with his girlfriend, and helping others who might be less fortunate. Join the Community Thank you so much for joining us for another episode of the FIRE Below Zero Podcast. Here are some awesome ways to say in touch, and always have these ideas and strategies at your fingertips
Join our Facebook Group Sign up for our newsletter
Resources Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)
Personal Capital
What exactly is FIRE? Financial independence, retire early. Financial independence is based on the 4% rule which was formulated from the Trinity study, the idea is that if you can survive comfortably at a 4% withdrawal rate from your nest egg (invested assets), provided that the assets were invested in low-cost index funds, you essentially never had to work for money ever again.
Which brings in the RE portion (retire early). If you can build up a nest egg with 25 times your annual expenses (inverse of 4%), you could essentially retire early. It just depends on how quickly you can build up those assets.
Useful related resources: https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ What’s the Alternative? The hamster wheel…. This is the path that awaits most Americans. 40 years in an unfulfilling job, doing something you completely hate. This is depressing, yet this is the path most choose! The Solution? Being intentional with money. Choosing to live way below your means. Cody mentioned working in a W2 banking job, yet ONLY spending $12K a year. This is a choice Cody made to escape the hamster wheel!
Cody also talked about building side hustles that can cover his monthly expenses, like starting a blog, podcast and a disc golf company.
Related resources:
The 4-Hour Workweek SiteGround (website hosting service)
“We’re on the same path but didn’t come from the same point” – This is such a powerful idea. Everyone’s journey will look completely different, but we can all implement these simple strategies and change our lives!
Just a few years ago TJ was unemployed and in debt, now he and his wife are well on their way to financial independence.
Moral of the story, just start! Our Gift to You Cody has a superpower he shares with us on the podcast. And we are so excited to share this with you!
We will need some group participation, but this will be well worth your time for the gift at the end! Join the Community Thank you so much for joining us for the first episode. Here are some awesome ways to say in touch, and always have these ideas and strategies at your fingertips.
Join our Facebook Group Sign up for our newsletter
Resources Fly to FI (Cody’s Blog)
Half Life Theory (TJ’s blog)