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

He brings his messaging of creating a better life and financial independence to 50,000 organic social media followers 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)

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

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

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

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

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

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. 

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), more uses for Smart Contracts and industries that will get disrupted, DAOs, taxes & estate planning.

Most 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

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

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.

It includes stats such as the amount you'd need to save to take just one more day off of your working career.

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.

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

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 Brand - Total Life Freedom 

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

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

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

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.

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 Ferris, 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

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!

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

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

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

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

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

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

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

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!

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

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 very 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

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

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)

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

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

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

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

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 and Invest Podcast
• Money Honey Rachel

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

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

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 whacky savings story about how Justin is furnishing his house
• And an interesting argument for purchasing a new car now 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

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

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 Invest To Travel Course
• Diya's Facebook
• Diya's Free Seminar
• TurnoverBnB

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

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

That means instead of limiting yourself to $19.5k into your 401k, you'll be looking at $58k. And that's true whether you work for a company (Mega Backdoor) or run your own business (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

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

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

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

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

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

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

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

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

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

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

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

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.

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

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

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

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  

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 

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

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

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

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

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

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

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

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

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

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 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

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

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! 

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

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

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/slow-travel/
• https://www.nomadnumbers.com/design-your-ideal-life/
• https://www.nomadnumbers.com/top-tips-save-money-airbnb-guide/

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!

1. Grab our FREE Budget Planner
2. Join our Facebook Group
3. Leave us a voicemail
4. 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 <<

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!

1. Grab our FREE Budget Planner
2. Join our Facebook Group
3. Leave us a voicemail
4. 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)

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
• 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!

1. Grab our FREE Budget Planner
2. Join our Facebook Group
3. Leave us a voicemail
4. 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 <<

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!

1. Grab our FREE Budget Planner
2. Join our Facebook Group
3. Leave us a voicemail
4. 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 <<

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

1. 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.
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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

• Website: Peerless Money Mentor
• Twitter: @PeerlessMoney

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

1. Imposter Syndrome: Joe was a financial advisor but still struggled to follow his own advice. We all need help on this journey.
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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.

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!

Joe's Information

• Website / Podcast: Stacking Benjamins

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

1. One size fits one: Erica highlights over and over just how personal that fitness and wellness are, experiment!
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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

• Website: Erica Ballard Health
• Instagram: @EricaBallardHealth
• Podcast: The Lies We've Been Fed

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

1. Security is addicting: Terrie had trouble walking away from her normal W-2 job. It's a valid feeling!
2. 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. Terrie showed how far she was willing to go to get her business off the ground. That type of effort makes a difference as an entrepreneur or at your W-2.

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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. 

 Terrie's Information

• Website: TerrieChantel.com
• Instagram: @TerrieChantel

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

1. Slow down: Bob breaks down the power of slow travel which this show is a big fan of
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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. 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!

Bob's Information

• Website: Tawcan
• Twitter: Tawcan

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

1. Know Your Pension: The pension system isn't as simple as we thought, so study your specifics
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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

• Website: Grumpus Maximus
• Book: The Golden Albatross

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

1. 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.
2. 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

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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.

Steve's Information

• Business: TopDog Learning Group
• Book: Pride Leadership

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

1. Get Creative: I loved the story of James doing this floor exercise to replace a pull-up movement
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

James's Information

• Website: Rethink The Rat Race
• Instagram: Rethink The Rat Race

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

1. Leverage: John created so much leverage through teams and real estate which allowed him to unlock his earning potential
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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
• Book: The Wealthy Gardener

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

• 1. Do you understand the product or service
• 2. Will people still be using the product/service in 20 years
• 3. Do they have a low-cost lasting advantage (think Coke's secret recipe)
• 4. Would you use the product that people would use during a recession
• 5. Do they have consistent earnings growth
• 6. Do they have consistent dividend growth
• 7. Do they have a low payout ratio (dividend vs earnings)
• 8. Do they have low debt %
• 9. Do they have a good credit rating
• 10. Do they actively buy back their shares
• 11. 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
• 12. 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

1. Take The Emotion Out: Kanwal's 12 rules help create a systematic process without being clouded by human emotion
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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.

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.

Kanwal's Information

• Website: Simply Investing
• Simply Investing Report
• Simply Investing Course

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

1. Stop Chasing the Money: Nikko talks about how things started turning around when stop solely focusing on the money.
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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!

Nikko's Information

• Website: 3D Printed Profits
• Youtube: Nikko Industries
• Instagram: Nikko Industries

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

1. 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.
2. Overestimate the bad, underestimate the good: Doug 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 Doug 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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. 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!

Dustin's Information

• Website: Massive Passer Income
• Twitter: Dustin Heiner
• Instagram: Dustin Heiner

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

1. Get Sticky: Genecia talks about retaining customers by always providing value, this makes them come back for more, aka sticky
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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

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

1. Affiliates are a win-win: These sites help you make an efficient purchase and put money in an entrepreneurs pocket
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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

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
• It is also targeted to help couples get on the same financial page.

Key Takeaways

1. Vote with your dollar: You can make a direct impact with who you do and don't support with your hard-earned money.
2. Gas Tank Analogy: We often feel like we have to hit our FI number before we can make these decisions but imagine if we wouldn't drive our car unless we had a full tank of gas?

Call to Action

1) Support business owners and entrepreneurs in the black community 2) Make your workplace or organization more inclusive and open 3) Speak up! Nothing gets solved if it isn't brought to light.

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

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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.

Julien and Kiersten's Information

Website - Rich and Regular

Twitter - Rich and Regular

Instagram - Rich and Regular

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

1. Acquire more or desire less: Eddy talks about rethinking how we look at money and how nature plays a huge part in that.
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Eddy & Sam's Information

Living Earth Systems Website - http://livingearthsystems.com/

Instagram - https://www.instagram.com/livingearthsystems/

Regenerative Education Centers Nonprofit website - https://www.recenters.org/

Instagram - http://instagram.com/recentersorg

The Maliko Project IG - https://www.instagram.com/themalikoproject/

Malama Ka'aina (short film) - https://www.youtube.com/watch?v=fpiWxz9yQpc

The Carbon Story (short film) - https://www.recenters.org/carbon

Styrofoam eating worms (blog) - https://livingearthsystems.com/mealworms-compost-styrofoam/

How to Build a Cubic Yard of Soil (online course) - https://courses.livingearthsystems.com/living-soil

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

1. Pressure makes diamonds: We loved how Whitney took her circumstances and used them as motivation
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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

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

1. 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
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Scott's Information

His Website: Playing With Fire

His Book: Playing With Fire

Their Podcast: Playing With Fire

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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

1. Peer Pressure: Jed talks about how powerful peer pressure is and it's obviously not just a concern for kids in school
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Jed's Information

His Website: JedidiahCollins.com

His Book: Your Money Vehicle

LinkedIn: Jedidiah Collins

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

1. Provide Value: Harry was successful because he gave a ton of value to readers and not just fluff that anyone could talk about but actual data
2. It's all logistics: Harry highlights all the ways you can get in on the rideshare movement and the areas it is still growing into

Call to Action

Find one of these logistics based apps that suits you and give it a try. There's Uber, Lyft, Postmates, DoorDash, Grubhub, Uber Eats, Instacart and on and on. Some don't even require a car!

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Harry's Information

Harry's Website: The Rideshare Guy

Harry's Rideshare Course: Maximum Ridesharing Profits

Harry's Youtube Channel: The Rideshare Guy

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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

1. The Lessons are versatile: Whether it's business, personal finance, or responsibility -- these type of lessons can apply and improve lives in many areas
2. 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 you'd like to take further

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Rob's Information

Robs Website: The Simple Startup

Rob's Book: The Simple Startup

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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

1. 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.
2. Behind Every Paycheck is a Passion: Gina acknowledges that her day to day job isn't her passion, but she has a plan to make that passion come to life

Call to Action

We often talk about what we NEED to retire, as an exercise, calculate out what your Survival portion of your budget is (Rent, food, utilities, etc). It will help you identify your trade space when working towards financial independence

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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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!

Gina's Information

Gina's Website: The Frugal Convert

Instagram: @TheFrugalConvert

Twitter: @FrugalConvert

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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

1. Sell Your Salary: Robert walks us through the high earning potential that sales brings
2. 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!

1. Sign up for our exclusive newsletter
2. Join our Facebook Group
3. Leave us a voicemail
4. 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 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

1. Easy Come, Easy Go: It's awesome to grow your income but you need both intentional spending and income in order to make progress
2. Lift others with your mistakes: We loved how Dustin brings his knowledge and opens up about his failures in a way to help others
3. 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.

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

1. This could take time: We have to plan both mentally and financially for uncertain times to consider for many months.
2. 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?
3. 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

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

1. Social Currency: Christine talks about how to put out goodwill and fair pay and that'll come back in multiples
2. Taking a leap of faith: She took a leap in a smart way with a company that needed a low investment to start

Call to Action

Go out and build your social currency. Just give back and find a way you can collaborate with someone to make a positive change. You'd be surprised the good you can accomplish and the influence it can have on your own success.

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 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 14 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

1. Mistakes Happen: Tyson calls out several missteps but he learns from them instead of dwelling on them
2. 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 trial and see what your plan looks like with all those important life moments.

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 Venture card
• Josh then talks about how to hit those minimum spends

Key Takeaways

1. Life hits hard: Josh never could have seen his world flipped upside down from the recession, but it did and he wasn't prepared
2. Learning from mistakes: Josh tried several different angles at investing before finding his groove
3. 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.

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

1. 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!

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

1. 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
2. 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
3. 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.

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

1. Leverage Yourself: You make $x today but that doesn't mean it's what you're worth. Don't underestimate your value.
2. 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.
3. 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.

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

1. 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.
2. Define your success: Don't let someone else set your goals for you because even if you meet them you won't be fulfilled.
3. 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

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 Join

• Yep the whole service is free
• You only need an account for certain functionalities, but still free
• Currently, they service residential only but up to 4 unit properties

Key Takeaways

1. Everything gets disrupted: It's awesome to see a service like this trying to take something traditional and put a unique twist on it.
2. We all need kickstarts: There's no shame in getting a little help. Services like Betterment have helped get many people off the sidelines so they don't miss out on the returns from the stock market and Roofstock is looking to get people off the sidelines and into the real estate market.
3. No harm in looking: The awesome thing about looking into a new venture is that it's free to look. No investment other than diverting a little time from Netflix and into an app or web search to find some potential first properties

Call to Action

Learn more about long-distance real estate investing and decide if it's right for you.

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

1. 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.
2. So many paths: There was so much diversity: age, gender, profession, and general paths to FI. It showed just how many ways there are.
3. 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.

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

1. Better than expected: Court talks about how much faster FI came than expected
2. Canada has perks: It's so important to enjoy the journey on your way to retirement
3. 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.

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

1. 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!

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 quotes

Financial Infographics and Rules of Thumb

• Justin really hates these generic infographics
• "How much you should spend on housing", "What you're 401k balance should be by age"
• These articles can both enable you and handcuff you
• It enables you to do some minimum threshold but handcuffs you to not go beyond
• If you read that saving 15% is your goal, you may be less likely to shoot for 25% or 50%
• These infographics can also turn people off from chasing goals at all

Increase Pay and Decrease Spending as Much as Possible

• The guys discuss how dangerous it can be to fixate on both of these
• Obsessing can take you too far and lead to burning out
• In reality, just by chasing financial independence you're already ahead of 95%
• Finding a balance is so important
• There's also an ROI for both of these things
• You can do a ton of work to increase your savings rate just 1-5% but may barely change your retirement date
• As always it's important to enjoy your journey to financial independence

Key Takeaways

1. It Depends: So many people try to push rules of thumb on each other but it's important to tailor things to your life
2. Don't limit yourself: The internet is full of answers, but it may give you some that are well beyond what you're capable of
3. Enjoy the journey: We can always make a little more or spend a little less, but always consider what the real cost of those decisions are

Call to Action

Find someone you know who is struggling or just curious about these topics and share this episode with them!

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

1. Test driving FI/RE: Lauren and Steven talk about how their trips are a test run at what financial independence will look like.
2. Avoid burnout at all cost: It's so important to enjoy the journey on your way to retirement
3. 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.

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

1. Control your income: Gina talks about how a sales-oriented career puts earning power into your own hands
2. Commit Cautiously: Gina put so much into her businesses, but at times pushed herself way too far
3. 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.

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 and learn all about side hustles 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

1. No money? Spend it anyway: Lisa talks about how important having nice clothes was for her self esteem growing up poor
2. It's ok to slow down: Obviously Lisa has pivoted and changed her plans and she sounds so much happier with optional retirement.
3. 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.

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

1. Partner in crime: It's so important to get on the same page with your partner, if your not today, just keep working
2. Keep Learning: MK shows how she's continuously learning such as re-reading Harry Potter to understand how a series builds
3. 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.

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

1. Less is more: Jen actually became happier in life after stripping off unnecessary spending instead of it being a burden
2. 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
3. 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.

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

• 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

1. 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.
2. 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
3. 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 over complication.

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

1. Expertise not required: Nick's first side hustle was comparing shoes and Nick knew very little about shoes
2. Be better, not necessarily different: It's more important to provide a great experience than something that's never been done
3. 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 (https://sidehustlenation.com/ideas) and find a few today!

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

1. 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
2. Use these powers for good: I love how this community takes there freedom and uses it help others the way Deanna does
3. 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!

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
• There's no strings attached or pyramid scheme
• 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

1. 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
2. Finance is more than early retirement: Debt payoff, financial freedom, meaning to money, there are so many
3. There are tracks for everyone: Moms, entrepreneurs, real estate, small business, or gig economy.. there are lot of tracks

Call to Action

Go to TheFiShow.com/Summit and get your tickets so you can join us for this awesome weekend.

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
• Finance didn't care about finance though till 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 Lend Edu 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 Lend Edu makes over $1M per year working with 120 advertisers
• Their revues 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 till graduation

Key Takeaways

1. Don't wait for success: It was awesome to see how Nate didn't put this business off until he graduated
2. Hire who you trust: The team has grown to 15 and 10 of those were college classmates. Trust is often more important than qualification
3. 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.

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

1. Money can be made everywhere: This is just another example of the limitless ways you can earn money in today's world.
2. Easy money is hard: Colin can repeatedly walk into a casino and earn money but it took countless hours of hard work and practice.
3. 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.

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

1. 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.
2. 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.
3. 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.

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, and not to mention Taylor was featured in a Justin Beiber video! (Check it out here at 4:34)

Key Takeaways

1. Don’t get greedy: Taylor was lured to the a major only because of how much money it would make and almost ended up miserable
2. Always be ready: Taylor constantly had 6 pair of socks ready to sell. That’s what made FEAT Socks successful
3. Misery isn’t selective: It would be easy to be jealous of Taylor but realize that depression can come calling for any of us

Call to Action

Go automate your life and reduce some stress.

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

1. 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.
2. Income can be exponential: Much like investments, income can also grow exponentially as you build a reputation
3. 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!

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 $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

1. 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.
2. We can always help: Some may look at Chad and not expect him to be helping someone with their finances but we take for granted the knowledge we can share with others.
3. 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.

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

1. 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.
2. 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.
3. Millennials are misunderstood: Millennials aren't pampered or lazy. They just consistently choose to follow lifestyles that their parents could never dream of and that makes some people uncomfortable.

Call to Action

If you were to lose your job tomorrow, what types of safety nets do you have in place to hedge against that risk? Formulating a game plan will make your personal finances much more resistant to difficult situations.

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

1. Military is a really solid FI path: Unfortunately, people think the military is something people do because they didn't have many 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.
2. 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.
3. 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.

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
• Her rule is if you don’t like Wal-Mart in your town, it’s probably not a good choice
• We finish off the episode detailing their investment strategy
• Their strategy is a traditional approach through Vanguard and index funds
• They’ve decided not to retire as early as originally planned
• That decision is a factor of enjoying work and being able to add more cushion
• Their current total spending is $40k per year for the household

Key Takeaways

1. It just takes a spark: Kim got redirected by a math teacher to go to engineering and she found a husband that fits perfectly with her restructuring her financial journey. It's just amazing to see how these small moments change our lives
2. Nontraditional meet traditional: I love how Kim wants to live a traditional life in one location with her family but made it possible in such a nontraditional way.
3. Pen to paper: Kim was thorough and realistic when making the decision on where to move. She understood it required a lot more research than simply googling the average cost of living for a city.

Call to Action

Sit down and consider where you want to live in retirement. Build some calculations based on taxes and cost of living and make plans to visit those locations over time.

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

1. Saving fixes all: They didn't make a ton of money, they got cheated by advisors, they had a kid...but they retired early
2. Mental is tougher than money: Several examples were covered about psychology and those mental hurdles are so much tougher than an equation
3. 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.

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

• 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 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

1. 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!
2. 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.
3. 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.