The Financial Independence Show

Today’s episode features Bob Lai from Tawcan. Bob and his wife are both dual citizens living in Vancouver, Canada. He has a big passion for geo-arbitrage, slow travel, and dividend investing. Hear how he’s reaching FI while traveling and having three weddings! (spoiler alert, only one bride) Listen, learn, and let us know what you think about this awesome episode! Episode Summary Bob’s Background Bob’s family grew up in Taiwan with a farming background Money was never taboo and stuck with him Frugality was a big point of emphasis His dad retired in his early 40s Bob had a cousin who retired at 42 And then another cousin who hit FI and kept working Bob talks about the influence that had on him Geo-arbitrage Geoarbitrage is the act of moving somewhere to lower your cost of living Think San Francisco resident moving to Montana This can be within your own country or abroad It’s important to consider your earnings also dropping This typically works best if you’re not working or working remotely Some jobs like doctors actually get paid more in small cities With the pandemic, this is possible for many more workers who’ve gone remote Exchange rates can also be your friend Living 181+ days in another country can also help you avoid U.S. income taxes Citizenship is obviously a big hurdle in certain countries Some countries give residency based on wealth or homeownership Geo-arbitrage can save you 50% or more Slow Travel Often we look at travel as short spurts (1 – 2 weeks at a time) This leads to trying to pack in as much as possible You end up so tired, you need a vacation when you get back Slow travel is the idea of spreading that over 3-6months This allows you to spread out costs of flights It also lets you book apartments vs hotel rooms Bob goes over how much more enjoyable it is and affordable He also talks about the benefits of having a home base when traveling Three weddings under $7000 Bob got married three times…. Remember that his wife was from Denmark This meant they both had families abroad His first wedding was mostly his family Bob’s wife made the cake and her dress! Of course, they used a coupon after the wedding to eat A month later they had a wedding with friends and her family They hired a friend who would go on to go to culinary school And their photographer was just starting out His wife actually altered her own wedding dress for the second wedding A year later they decided to do a wedding actually in Denmark This time it was at a small-town school and his picture did photographs Bob even took some of the photos Rounding out the Episode Bob talks about how he could retire now if he wanted He’s happy with his job currently Their home is also very valuable in the crazy Vancouver market But life is good and his kids have a friend group Key Takeaways Slow down: Bob breaks down the power of slow travel which this show is a big fan of You have options: Don’t think that just because you live or were born in a certain area that you have to stay there. Call to Action Look at your next planned vacation or one you’ve done in the past, compare those numbers with the slow travel version of it. How much per day does a six day vacation compare to a six month? Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN, 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 Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Grumpus Maximus, author of The Golden Albatross and creator of the Grumpus Maximus website. Grumpus was three years away from a pension when he had a breakdown. This pushed him to gather all the information he could on his pension to choose on staying or going. Ultimately, he stayed and from then on became focused on teaching others how to understand and utilize their own pension plans. Listen, learn, and let us know what you think about this awesome episode! Episode Summary Grumpus’ Beginnings In the spring of 2016, he suffered a mental breakdown This was while serving in the military He was only 3 yrs from a pension This made him do a lot of investigating into his pension He gives people advice on how to balance mental health and personal finance decisions We also talk about how to decide when to stop chasing the pension This is important because there’s often such a long time to earn the pension Varieties of Pensions Grumpus highlights the vast differences in pensions These differences make them more or less valuable Differences include healthcare and inflation adjustment One thing to look out for is how well funded the pension is If it is only 50% funded, then it could be a riskier and less attractive pension What is a Pension? Generally, it’s some percentage of money based on your salary that you receive forever You might have to work X number of years and at that point, you’re fully vested Some allow you to ramp up your pensions vs all or nothing Think partial vs cliff vesting The main reason for a pension is for retention If you’re ready to leave, they may offer you a lump sum It’s important to consider tax implications and how much value you’re giving up Grumpus also highlights that all plans must offer survivor benefits This is where your spouse or dependent would get a part of your pension after your death Rely Only on Your Pension? Simply put, you shouldn’t only rely on your pension The closer you get to vesting, the more you can assume you’ll have it You also need to study how likely your pension is to actually exist This is on top of understanding how likely you’ll be able to handle a single job for 20-30 years Grumpus Moves Abroad He moved to New Zealand and enjoying the conversion rate We then discuss how the pension is taxed based on state/country you live in Grumpus is a big fan of the range of activities available in New Zealand Cody couldn’t agree more! Key Takeaways Know Your Pension: The pension system isn’t as simple as we thought, so study your specifics The future is uncertain: At times we don’t take action because we’re pessimistic but then, unfortunately, we make future assumptions based on overly optimistic projections Call to Action Study your pension! Even if you don’t have a pension, chances are that you or your spouse has some type of benefits. Really dig in to make sure you fully understand and maximize those benefits. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Looking for a low-cost cell phone service provider with great coverage? Look no further. Mint Mobile provides the same premium coverage you’re used to, but at a fraction of the cost because everything is online. All their plans come with unlimited talk and text and you can choose the data plan that’s right for you and get the plan shipped to your door for free! Go to MintMobile.com/FiShow to get started now for just $15 per month. Grumpus’ Information Website: Grumpus Maximus Book: The Golden Albatross Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Dr. Steve Yacovelli, author of Pride Leadership and creator of TopDog Learning Group. Steve brings an incredible amount of expertise on leadership as well as diversity and inclusion. He also brings an interesting backstory where he went from working on a Disney Cruise line to being hired by Disney as a consultant on those very cruises. Steve will teach us all how to listen, build trust, empathize, and ultimately to lead. Listen, learn, and let us know what you think about this awesome episode! Episode Summary Steve’s Leadership Foundation He got his first taste of leadership in his fraternity in College Steve calls out how people just simplify leadership at times to just having people skills He has distilled his leadership principles into six areas Being authentic Having leadership courage Having empathy Building relationships with those around you Effective communication Shaping the culture around you Listen to Understand not just to Respond He talks about how you should listen to understand and not just to respond This is avoiding that feeling you get when you feel like you can’t wait for someone to stop talking so you can make your point In reality, you can’t be empathetic to someone if you can’t get to really know and understand them Inclusion is Good for Business When hiring and building a team, it’s important not to hire people just like yourself Not only does it increase your chances of missing a great hire, but it also opens you up for more risk This risk is because you’ll hire people with your strengths but also your weaknesses By hiring a more inclusive group we not only support people without bias, but we also cover our blind spots Steve says it’s better to strive for conscious inclusion instead of just working on your unconscious bias Later in the episode, Steve goes into more metrics of why inclusion impacts the bottom line and not just social initiatives Leadership in LGBTQ+ Steve makes it clear that he’s not trying to say being straight or not means you won’t be a better or worse leader Instead, he helps the LGBTQ+ community see how they can use something like their sexual orientation as a strength One example he gives is authenticity If he hid the fact that he had a husband, that wouldn’t be very authentic, and he helps this community spot these opportunities There’s More Diversity to Diversity than you think Sometimes we only think of diversity as race, sex, and sexual orientation but there’s a lot more Steve prefers a specific model that is illustrated by layers and rings In the center is our personality Your personality is completely unique Next out are those items we traditionally think of (sex, race, sexual orientation, etc) Those are dimensions that typically don’t change frequently Then you have the external dimensions which can change frequently In this section, you have pay, parenthood, income, habits, physical appearance, etc Next, you have the organizational dimensions (hourly, manager, legacy groups, etc) Finally, you’d have the country in which you’re operating This is important just because there are many different cultural norms to consider Key Takeaways Listen: It’s always a good idea to really listen. Maybe you don’t know the person, fully understand the problem, or even know what you’re supposed to be doing. Listening can fill all of those holes. We’re all leaders: Steve made a point to call out that we can all practice leadership even if we don’t have people reporting to us. Call to Action When in conversation this week, make a conscious choice to really listen to others. Listen with the goal to understand and not to look for holes to poke in their argument or to show how smart you are with a great question. Instead, really listen to learn from them and understand their points. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners If you’re a rental property investor or business owner, you’ll definitely want to check out igloohome. Have you ever had to give out a door code or leave a key under a mat for people to enter your property? Not anymore. igloohome’s smart locks work entirely on an app + Bluetooth connection so there’s no need to sacrifice security. Check out their products today at igloohome.co and get 15% off with promo code FISHOW. Steve’s Information Business: TopDog Learning Group Book: Pride Leadership Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features James Lowery from Rethink The Rat Race James is a repeat offender back from episode 36. In that episode, he dug into his background and how he and his wife retired in their 20’s after amassing real estate in just two years. This episode we dive more into his accomplishments in the health and fitness arena. From lifting, cardio, diet, and more all through the lens of someone on their FI journey. Listen, learn, and let us know what you think about this awesome episode! Episode Summary James’ Background As a refresh, James and Emily saved heavily Invested that into real estate properties in Huntsville, AL Then when they retired, they moved to Cyprus Obviously COVID-19 had other plans and they had to return to the U.S. Now they’re putting a little effort into some of their rentals And looking for their next adventure James’ Diet He refers to his diet as “Freegan” This is because he’s 95% Vegan but will make exceptions These exceptions are for non-vegan meals that avoid food waste So if the food is already there and it’s free, he’ll eat it James’ fitness ventures James has done bodybuilding competitions, lifting, and helped with physical therapy He takes some time to break down the positives of each of these Then we start ways to mix it up because cardio doesn’t have to be just running on a treadmill James loves trail runs, HIIT training, weight lifting, and the huge amount of content out there on YouTube He recommends you recognize your body can do more than you think but also be careful of going to some extreme right off the start Keep It Simple James mentions how entire food groups do not have to be eliminated Extreme style diets are so hard to be successful with long term He recommends mostly vegetables / not too much mindset That just means understanding the calories you have coming in but making veggies the prominent part of your plate Also don’t overthink the amount of weight your lifting Keep it light if your form starts to slip, don’t stress about breaking records Also, don’t forget the simple parts like hydration Hydration can impact your calorie burning, energy, and cognition Also don’t stress about finding the perfect ratio of Fat/Carb/Protein Don’t Get Intimidated This journey doesn’t have to be expensive The food costs can be reasonable James & Emily actually only spend $40/week per person and eat a ton of healthy foods and veggies Then you don’t have to pay a ton for a gym membership There’s plenty you can do at home, outside or for $20/mo at a Planet Fitness And if you need to earn some extra cash, James actually covers side hustles that are great for your fitness Also, don’t get intimidated with bulking up to fast Lifting weights doesn’t magically make you get bulky It can be a great way to get toned and burn calories   Key Takeaways Get Creative: I loved the story of James doing this floor exercise to replace a pull-up movement It doesn’t have to be complicated: Too many people sit on the sidelines because they’re looking for the perfect diet or workout plan when simple balanced eating and getting active is an amazing start. Call to Action Start a fitness or health challenge with someone. Maybe even put a little money on the line to keep up the motivation. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners If you’re a rental property investor or business owner, you’ll definitely want to check out igloohome. 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 R

Today’s episode features John Soforic, author of The Wealthy Gardener. John gives his passionate story of how he went from $200k in debt to over $200k in passive income. The lessons he learned led to a book he wrote for his son titled The Wealthy Gardner. The story starts with a stroll through the graveyard but certainly has a happy ending. Listen, learn, and let us know what you think about this awesome episode. Episode Summary John’s Background John takes a walk when he was 30 He just goes walking in his town Then he walks into a graveyard and sat there for a half-day John was just contemplating life He had two kids, long hours, and $200k in student debt Then he read a book called “How to Think and Grow Rich” Then he set a goal to have $240k in passive income before the age of 50 Fast forward and John retired at age 49 He would then go on to write The Wealthy Gardner as a way to communicate the lessons he learned to his son Building His Passive Income Step one was leveraging all 112 waking hours and not just 40 He was working 40 hours in his clinic and 30 hours outside Then he started educating himself on real estate John also hired teams to help him That allowed him to have 500 hours of work a week to his goals This included buying 8 duplexes at once It was an incredible deal where he got them at half price He was able to do this because he offered to buy them all The sellers were part of an estate and looking for quick cash The Wealthy Gardener Book John wrote the book in hopes that his 19 yr old son would be influenced by it He convinced him to be his editor to make some money During the process, John asked him to argue points with him Today his son is 25 and saving over 50% of his income so it seems to have worked He also fought to keep spirituality into the book to keep it true to him John originally self-published and book that has now been translated into three languages   Key Takeaways Leverage: John created so much leverage through teams and real estate which allowed him to unlock his earning potential Stay True to You: I loved how John is open about his beliefs and how he didn’t let the prospect of money change them Call to Action Investigate passive income streams. Don’t get stuck thinking only on huge goals — just start small and start soon. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners If you’re a rental property investor or business owner, you’ll definitely want to check out igloohome. Have you ever had to give out a door code or leave a key under a mat for people to enter your property? Not anymore. igloohome’s smart locks work entirely on an app + Bluetooth connection so there’s no need to sacrifice security. Check out their products today at igloohome.co and get 15% off with promo code FISHOW. Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN, I used to use incognito mode when I wanted to protect my information and browsing history. But I was wrong. Your internet service provider can actually still legally sell your information even if you’re using an incognito browser. But when you use Express VPN to surf the web, the software encrypts your web traffic and masks your IP address to give you real privacy. Use limited-time offer ExpressVPN.com/FiShow for 3 months off a 1-year subscription. Start protecting your privacy today! John’s Information Website: WealthyGardener.com Book: The Wealthy Gardener Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Kanwal Sarai from Simply Investing. Kanwal shares with us his unique investing style. This style is a combination of value investing like Warren Buffet and a focus on dividend payouts. Kanwal takes our questions in stride and makes some really great points. Listen, learn, and let us know what you think about this awesome episode. Episode Summary Kanwal’s Background Kanwal graduated with a computer science degree at age 24 in 1996 About three years in, he realized traditional work couldn’t be a forever path This was before anyone was calling it “F.I.R.E” His first side hustle attempt was purified water Long story short…the side hustle was a flop Neither of them knew anything about marketing/sales Building His Own Investment Method In 2003 Kanwal started developing his own investment strategy His son was just born and was keeping him up all night One of those sleepless nights he grabs an investing book and was hooked At the time he was paying 2.5-3% fees for advisement His main focus came down to strong dividend-paying companies He calls it “Dividend Value Investing” This is a combination of undervalued companies that also pay dividends 12 Part Checklist of Dividend Investing 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 Take The Emotion Out: Kanwal’s 12 rules help create a systematic process without being clouded by human emotion Set Goals, Be Patient: Don’t get sucked in to get rich quick schemes, find quality companies and make continual progress. Call to Action Leave a review on iTunes, share it with us, and then we’ll select two lucky listeners for a prize. One listener will get a year subscription to the Simply Investing Report and the other will get full access to the Simply Investing Course. That’s $500+ of value! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Looking for a low-cost cell phone service provider with great coverage? Look no further. Mint Mobile provides the same premium coverage you’re used to, but at a fraction of the cost because everything is online. All their plans come with unlimited talk and text and you can choose 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 Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Nikko from Nikko Industries. What a cool and unique guest who is on his way to making $250k this year off his 3-D print business. This business was no easy task as Nikko didn’t become a U.S. citizen until he was 25. What started as Nikko just trying to be an awesome dad, quickly turned into a life-changing money endeavor. Listen, learn, and let us know what you think about this awesome episode. Episode Summary Nikko’s Background Nikko’s parents were not good with money Nikko and his family immigrated to the United States At a young age, he made a vow that he would not be the same way He would provide and be smart with his money for him and his children Due to being an immigrant, he wasn’t able to think about college or many things until he was 25 Nikko joins the military after getting married and becoming a citizen Then he realizes how much more money he could make on the outside From there he takes a traditional commercial role but keeps an eye on entrepreneurship Nikko’s Entrepreneurial Journey Nikko talks about all the failures he had along the way He had so many setbacks that at one point he just quit But then things turned around for him He says, When I stopped chasing money, money started chasing me Nikko says you really have to love what you do to be successful The business venture that really turned things around for him was 3D printing Birth of Nikko Industries Nikko’s drive was to find something that helped him enjoy his time with his kids His son loved things like Thor and Iron Man etc Nikko came across someone on Instagram who had printed pieces to a costume He put the 3D printer on the back-burner for a month to make sure he was serious After a month he couldn’t stop thinking about it and bought one He started by building a community and youtube channel Then he started looking to actually sell products Scaling a Business Nikko admits that he doesn’t know how to design these products from scratch He leverages others to make the designs and market it His biggest skill is delegation and making sure he’s tapping into the right products His 1st year he made 50k in revenue 2019 his revenue grew to $130k In 2020 he’s on pace to make over $250k in revenue Most of this revenue is just off of the digital files He says that he spends about 4 hours per week And now he’s coaching others to build 3D printing businesses Then a person can take these files and use their own printer to make them Nikko also has a big focus on giving back During the Covid outbreak, he was printing free face shields for frontline workers   Key Takeaways Stop Chasing the Money: Nikko talks about how things started turning around when stop solely focusing on the money. Maximize Your Skills: Nikko never designs a file yet makes so much money on them, he uses his skills of delegation to the max Call to Action Just go educate yourself in 3D printing. Whether it’s Nikko’s side hustles, medical advances, or even housing solutions, it’s such a cool topic that everyone should check out. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data 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 Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Dustin Heiner from Master Passive Income Dustin vividly remembers a march to the boss with kids waiting at home, knowing he was about to lose his job. He knew from that day, he needed to build his own income streams away from traditional employment. 30 real estate properties later and he had the freedom he always wanted. Listen, learn, and let us know what you think about this awesome episode. Episode Summary Dustin’s Background Dustin is a serial entrepreneur Websites, pizzeria, graphic design, and even a skateboard manufacturing gig He refers to a traditional job as “Just Over Broke” During this journey, he stumbled upon real estate investing His first one was profiting $350 per month and he was hooked Dustin learned the hard way There weren’t any good courses or coaches out there at the time He talks about how much he learned from his mistakes Breaking Away from Tradition Dustin also went to college just because it was what he felt like he should do This led to a ten-year career in IT at a government agency He walks us through the fearful moment when he realized he didn’t want to rely on someone for employment ever again. That fearful moment was when Dustin got laid off with 4 children He did continue to work in IT but he swapped his perspective From then on, he would introduce himself as a real estate investor 9 years and 30 houses later, he was able to step away from that traditional career Dustin could have stepped away earlier but admits it is tough to walk away from stability Dustin’s Real Estate Investing Dustin started out living in California Prices didn’t make sense there so he looked out of state He was investing in Ohio, Texas, etc Out of all the houses he’s purchased, he’s only traveled to see one in person This requires a network of people you can trust The key here is the property manager, they are the quarterback His requirement for a house is a minimum of $250 per month profit We also talk about renting vs owning 401ks & Real Estate Investing Dustin talks about cashing out or borrowing from 401k to buy real estate He actually doesn’t like investing 401ks at all This comes off his assumption that he can make so much more from real estate So his argument isn’t that 401ks are intrinsically bad Common Real Estate Mistakes Not accounting for paying for a property manager Not putting back money for repairs Buying a house with really small margins Buying a home in an area where everyone is leaving In general, overestimate expenses and underestimate rental income   Key Takeaways Your Paycheck is not your value: Companies pay you just what they need to so that you stay but they’re as profitable as possible. Overestimate the bad, underestimate the good: Dustin recommends this mindset when looking at real estate. Call to Action Look into real estate as an investment. If your stuck on the fence, especially due to prices in your local area, then do like Dustin did and grab a property manager to invest out of state. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Express VPN is one of the leading virtual private network service providers in the industry. Before I learned about Express VPN, I used to use incognito mode when I wanted to protect my information and browsing history. But I was wrong. Your internet service provider can actually still legally sell your information even if you’re using an incognito browser. 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 Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Genecia who is the creator of Soul Rich Woman. Genecia’s main goal is to empower women business owners to go from offline to online. She’s proven this over her career with millions in revenue and is sharing that with the 200k+ members of Soul Rich Woman. You won’t want to miss all her advice, especially around the love of F words. Listen, learn, and let us know what you think about this awesome episode. Episode Summary Genecia’s Background At 18 she started with a simple thought of making more in a single hour She was going to school, working, and teaching as a yoga/dance instructor So she decided to build a group of instructors were she made a commission off them Genecia attributes her success to resourcefulness and the people she surrounded herself with After college, she entered a traditional job in a hospital helping children with learning issues She realized that she was making way less in a 9-5 than working for herself in college Then she transitioned to consulting Offline to Online In 2013 she transitioned from working offline to online She made $100k in 3 months And $1 Million within a year Then she invested in a cafe retail chain Helping other Women go Online The group started just as “Webinar Wednesdays” And in the beginning, there was no traffic But she stuck with it and started advertising on Facebook In the group, she helps instill a growth mindset The group she started is called “Soul Rich Woman” The group is over 200k strong! She talks about women who love “F words” Fabulous, freedom, financial independence, family This education and community is available as an annual or monthly service Genecia also really focuses on marketing and helping businesses get repeat business Where to focus first She says to work on your business, not in your business This means outsourcing tedious work so you can focus on growth Stay on top of trends Love the customers first and then create what is good for them Genecia walks us through a case study of a fitness instructor going online   Key Takeaways Get Sticky: Genecia talks about retaining customers by always providing value, this makes them come back for more, aka sticky Leverage the internet: The internet is a force multiplier for not only finding customers but also to augment with employees Call to Action Grab $50 and outsource something that is draining you of your time so you can be more productive in areas that really matter Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Sign up to Proptech Conference for a Cause hosted by igloohome. Your ticket fee will be donated to Team Rubicon for Covid-19 relief efforts. Genecia Alluora’s Information Website: Soul Rich Woman Twitter: Genecia Alluora Instagram: Genecia Alluora Recommended Book: Rich Woman by Kim Kiyosaki Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Doug from Niche Site Project. Doug brings in hundreds of thousands from his affiliate websites. These sites are those websites we all use to help us decide exactly which brand/version of a product we’re looking to buy. He started off on a traditional route in engineering but with this incredibly successful venture, he just manages these sites and teaches others how to follow in his footsteps. Listen, learn, and let us know what you think about Doug’s awesome episode. Episode Summary Doug’s Background Doug’s first money experience was around mowing lawns He wanted to buy a CD player and realized there was a sustainment tail Doug would also need money to buy the actual CDs He ended up mowing lawns for another 7 years But entrepreneurship didn’t really take hold Instead, he went the traditional route Doug went to college and started his career as an engineer Doug’s Engineering Journey Out of college, Doug was making $52k per year He didn’t have any financial or savings goals His wife though was a real saver She rubbed off on him and he came around In 2013 the real changing moment happened He stumbled on a podcast in 2013 This podcast was called The Smart Passive Income Podcast Entrepreneurship A month after listening to these shows he started his first gig Doug decided to start with Amazon affiliate pages He admits his first few sites weren’t great But after 6 months he was making a few grand per month That’s when he realized that he could quit his normal job What is an Amazon affiliate site We’ve all been searching for a product and looked for help to choose We ultimately end up on a “Top 5 hard drive” list Through this list, you click on a link and eventually buy one That link is specific to that site so the owner gets a commission You are helped out and they get paid, it’s a win-win SEO is huge to get them there but don’t forget to be helpful Doug also spends some time talking about how he manages his team and sources virtual assistants He also offers a full course to teach others on how to do this   Key Takeaways Affiliates are a win-win: These sites help you make an efficient purchase and put money in an entrepreneurs pocket Keep it simple: Doug laid out his management style and how simple and streamlined it is. As he said, you can always make it more complicated later. Call to Action Grab some free resources at nichesiteproject.com/fishow and at least study affiliate links or maybe try to build one yourself. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Sign up to Proptech Conference for a Cause hosted by igloohome. Your ticket fee will be donated to Team Rubicon for Covid-19 relief efforts. Doug’s Information Website: NicheSiteProject.com/FIShow Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Julien and Kiersten from Rich & Regular. The name is a play on Rich & Famous where they talk about how they never want to be disconnected from regular people. They share their personal and professional journey. Julien and Kiersten also share the unique challenges that face the black community and wealth-building. Most people can think of white people who are wealthy but not famous, yet when we think of black wealth, we conjure names like Oprah, LeBron, or Obama, and Julien and Kiersten want to show that it doesn’t have to be that way. Listen, learn, and let us know what you think about this incredibly important topic. Episode Summary Julien and Kiersten’s Background Julien grew up with a scarcity mindset This was during the crack era in 1980’s Brooklyn He knew that money existed but never saw it in real life This led him to believe he could never be rich Kiersten’s background was very different She grew up in the suburbs of Atlanta Kiersten says she was comfortable and never worried about money Julien credits mentors at all stages of his life for his ability to make it in life He says these people would always push him further In 2005 he was graduating from Georgia State University and spending time in Europe This trip changed his world view and made him realize what’s possible Difference’s in Spending Come to a Head Julien and Kiersten go on a vacation to Panama Julien expected they would really cut back on spending after returning His focus was on getting the credit card back to zero Kiersten was on a totally different page She wasn’t looking to slow down spending This caused some friction but obviously they got through that Kiersten realized she just always had income coming in so she felt like there was always more Wealth Disparity of the Black Community Julien highlights the median net worth of black members of the Boston community The median net worth at the time was $8 He talks about the problems society we will see as this gap grows He cautions that there will be violence and crime as people get restless Julien also quotes a study that project the median net worth of black families in the U.S. will be $0 by 2053 How Do We All Help Kiersten urges people to support black-owned business She talks about how this allows you to vote with your dollar This also trickles down to other families She says that for any product you can buy at a big store, you can probably buy from a black-owned business No FIRE Number Julien doesn’t find a lot of value in focusing on a FIRE number Kiersten jokes that it has bounced around by 100s of thousands Hitting that number wouldn’t radically change how they operate They’re very motivated to keep that number climbing With this money, they can make more of an impact on social activism Resonating with the Black Community Talking about the FI path in a non-linear way Often times people of color don’t have the benefit of predictability Then we talk about the book The Real Pepsi Challenge In this, it’s highlighted that black people aren’t just white people with darker skin The experiences and interests there are just different You wouldn’t market to a mother of three the same way you would to a man with no children So it should be familiar that different people need messages in different ways Julien and Kirsten feel like they’re meeting people where they are and speaking to people who haven’t been spoken to Rich and Regular Get Published They didn’t expect to be writing a book this soon This process has involved agents and a writing coach There were 13 different versions as they tried to pull this together Julien describes it as part financial love story, part financial inspiration, and part an invitation to the black community to come to join the FI movement It is also targeted to help couples get on the same financial page.   Key Takeaways Vote with your dollar: You can make a direct impact with who you do and don’t support with your hard-earned money. 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! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners Sign up to Proptech Conference for a Cause hosted by igl

Today’s episode features the most resourceful guests ever, Eddy Garcia & Sam Schiebold from Living Earth Systems. Eddy and Sam bring a wealth of information on how to re-think how we feed ourselves. From living on the land to growing tonnage of produce and feeding 20 people from a tiny parking lot. They are on a mission to inspire and educate the world on how to properly grow and sustain food through plagiarizing nature. Listen, learn, and let us know what you think about Eddy and Sam’s awesome cause. Episode Summary Eddy & Sams’s Background Eddy talks about living off the land as a kid in Hawaii on fish and coconuts An experience that many would pay hundreds of dollars for That reshaped Eddy’s thoughts on wealth He realized he could acquire more or desire less At a young age, he also realized giving was really important to him He never stayed at home and skipped school for surfing Sam went a more traditional route This included a Physics degree from a top-10 university She quickly realized that her degree didn’t mean much to her Sam ended up finding her way to Hawaii and got into a concept of permaculture Permaculture vs Regenerative Farming Permaculture is the idea of making a sustainable food source much like a forest Eddy & Sam practice something different than Permaculture called Regenerative Farming Eddy gives a history lessons on these methods that stem back from the 70s He says he just tries his best to just copy nature This means not bringing in plastics and artificial fertilizers It also means a lot less human interaction Patagonia recently released a regenerative farming certificate Starting Your Own Crop Eddy calls out a potato as a great starter These grow in warm or cold climates with little effort Another option is radishes Seed to radish is only a 25-day process He also recommends different types of greens Eddy also says you can grow a lot of things from organic vegetables Teaching & Empowering Eddy and Sam are producing courses and videos on growing These tackle anything from composting to urban farming Also helping others overcome a fear of not having a “green thumb” These are all around a closed-loop methodology This means not bringing in or taking out materials That means growing is way cheaper We also cover how this could work for busy professionals They also teach classes and make films on-site in Hawaii This is done on a 170-acre farm in Maui They also have tours and farm to table dinners Eddy and Sam are also actively bringing a portion of Maui back from being a trash dump. Finally, there’s also an intern program!   Key Takeaways Acquire more or desire less: Eddy talks about rethinking how we look at money and how nature plays a huge part in that. Less with more: It’s amazing what Eddy is able to grow in such tiny areas, some as small as an eighth of an acre Call to Action Try to grow something. Potatoes, radishes, or an aquaponic system. If you really aren’t ready, then find some sustainable sources of food for your next grocery run. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to 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 Learn More About Your Hosts Fly to FI (Cody’s Blog) S

Today’s episode features a real Money Nerd, Whitney Hansen. Whitney paid off $30k of debt in 10 months. She also bought a house at 19 and got her MBA for $472. She started out life with some hardships but that fueled her interest in personal finance. Now she’s taking her lessons and empowering others through financial coaching. Listen, learn, and let us know what you think about Whitney’s awesome insights. Episode Summary Whitney’s Background Whitney’s parents separated after an abusive relationship They then moved to Boise in a two-bedroom apartment Her mom was supporting them with $7.25 of income This was all to support a family with six children Whitney tells a story of how excited she was to get a mattress out of the trash This was when she was 18 Helping Others Save Some people think they can out-earn bad spending Whitney’s #1 point is to find the values and “why” of the person you’re trying to help Not all tactics are going to resonate with people but leading by example is a great start She also talks about being relatable If you only share the wins, it can seem unobtainable Start of Financial Coaching Whitney was $30k in debt but working two jobs She focused and paid off all her debt in 10 months After that people started hitting her up for advice That’s when she discovered financial coaching Money Coach vs Financial Advisor Money Coach’s can’t tell someone what type of insurance they should buy They shouldn’t tell a client to buy a specific stock They also shouldn’t try to give specific tax advice Instead, a Money coach should focus on saving, philosophy, and just holding them accountable. Tips to Becoming a Money Coach It’s important to understand how hard a client is willing to work It can change how you work with them or if you should work with them at all You also should start coaching for free or heavily discounted That way you can see if you really want to do this before getting too invested   Key Takeaways Pressure makes diamonds: We loved how Whitney took her circumstances and used them as motivation Speak their language: Whitney talks about resonating with people about money. You have to meet them where they are and not just try to force them into doing things that worked for you. Call to Action Take and share financial tips with someone. Try some of the tips Whitney mentioned and really try to resonate with the person. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. We have both been using Personal Capital for years and highly recommend it. Sign up for your free account here!   Whitney’s Information Her Website: Whitney Hansen Her Podcast: The Money Nerds   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features the star of the Playing With Fire documentary, Scott Rieckens. Scott found himself saving 8% an heading towards a lifestyle that seemed unsustainable. The FIRE movement showed him that his value/happiness was not aligned with his spending. Scott and his wife made an amazing transformation and shared it with the world. Listen, learn, and let us know what you think about Scott’s amazing journey. Episode Summary Scott’s Background His Dad was in the Navy so he picked up and move many times. His Mom would always try to pick up a job at the new location She also handled the bills and investing outside the pension At a certain point, Scott realized his lifestyle wasn’t sustainable He was trying to take on more and his spending was also increasing Then he found the FIRE community That took his focus just from income streams to also include responsible spending Entrepreneur Focus Scott found himself laid off three years after college He and a friend spent three months to put together a business plan They raised a couple hundred thousand dollars to build an indoor golf center But as they worked the projections, they ended up scrapping the idea Then he goes back to the drawing board and back to the small business center for help When Scott goes there for advice, the advisor realizes Scott has social media experience In 2009, very few people had this experience and the advisor encouraged him to pursue that route From then on, he’s been an entrepreneur Scott recommends the book The War of Art for entrepreneurs Embracing FIRE Scott recalls the Chautauqua trip in Ecuador with people from the FIRE movement There he learned that if this didn’t work, he’d just be going back to work like everyone else That realization made him feel much more comfortable with the attempt at hitting FIRE Scott then breaks down why everyone doesn’t embrace a journey of financial independence Not being in the right place in life or being afraid of what they could uncover We also talk about the taboo around money Playing With Fire Scott’s original idea was to go around interviewing people about the movement Then it swapped to him actually going through the journey and transformation He talks about how difficult and invasive the documentary Scott also the moments the camera missed Now Scott is taking the Playing With FIRE brand into a Podcast   Key Takeaways Awakening: It’s so cool to listen to someone explain the process of totally shifting your outlook on life as Scott did with his spending Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside Call to Action Make a list of the 5 things that you value the most and that brings you the most happiness. Then reflect on what percentage of your budget is spent on items from this list. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. 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)

Today’s episode features the former #1 NFL Fullback and author of Your Money Vehicle, Jed Collins. Jed had realized his dream of reaching the NFL but with that first big check, came a lot of fear. Since that point, Jed now embraces fear and shares the lessons he learned with young players and people all over the country on how to take control of their finances. Listen, learn, and let us know what you think about Jed’s amazing ride. Episode Summary Jed Collin’s Entry to the NFL Jed talks about his first big check He knew he’d already spent it all before he even opened it The money had gone towards an engagement ring for his now-wife Jed entered the league as an Undrafted Free Agent so the NFL wasn’t a given But Jed had an accounting major so he had a fallback He talks about how having a fall back plan is actually looked down upon He also admits that he understood corporate finances but didn’t resonate on a personal level Helping With Rookies Jed goes to sessions around the combine to educate rookies on personal finance Some of these rookies struggle with peer pressure around luxuries like cars and jewelry But a lot of pressure is actually from families that they’re now supporting There are also things like rookie dinners were these young kids are dropping $27k on dinner And that’s for veterans who don’t need anyone to buy them a thing The Rookie minimum is almost $600k now NFL Members Don’t Comprehend What They Make Players don’t comprehend the difference between contract value and take-home pay The money coming to you is heavily taxed You also are not guaranteed a spot on the team for the full contract either There is a pension system for those that make it three years in the league But this doesn’t kick in until 55 It equates to about $500 per month for every year in the league Mindset Comparisons: Money and Football Jed was actually cut 13 times And later in his career, he was named the #1 Fullback in the league That just shows how unstable it can be for a player in the league He feels that there are a lot of parallels between someone being successful and life and sports He also shares stories about Drew Brees that just shows how dedication and process can lead to success 5 associations of money Jed talks about automating what you do with your money He breaks it down to 5 money areas or associations These (not in order) are: Society aka Taxes Past Decisions – Rent / Bills / etc Present Day Actions – Day to day choices Future Choices – Investing / Saving Compassion – Donations / Giving   Key Takeaways Peer Pressure: Jed talks about how powerful peer pressure is and it’s obviously not just a concern for kids in school Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside Call to Action Divide your spending up into the 5 associations that Jed discussed and automate where your money goes Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. 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   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Harry from The Rideshare Guy Harry started down a very traditional path — an engineer in a cubicle. Then in 2014, he started moonlighting as an Uber & Lyft driver. He started a blog and began sharing real data that helped drivers know the Do’s / Don’ts and ultimately how to make more money. Today, his blog has an insanely large following and it continues to expand into more and more areas. He’s also launched a course, Maximum Ridesharing Profits, to teach new side hustlers how to take advantage of the rideshare economy. Listen, learn, and let us know what you think about Harry’s amazing ride. Episode Summary Harry’s Journey to Side Hustling Harry remembers when he realized he could sell chips from his lunch as a kid His lesson was that when people want to pay for something you need to find a way to accept it Harry took a fairly traditional route career-wise He got an engineering job and worked the cubicle environment But Harry was used to entrepreneurial ventures From selling chips to doing laundry, and then driving Uber / Lyft on the side in 2014 Harry then goes over the moment he realized traditional employment just wasn’t enough It was realizing a fellow employee had been working in the same building for 40 years He was also having a lot of fun driving for Uber / Lyft and making $35-$30 per hour The pay was higher back then as fewer drivers were available Finding a Career Via Uber / Lyft Harry never really wanted to drive for a living but enjoyed the process So he started The Rideshare Guy Here he would lay out very clearly and thoroughly all the things you should consider as a driver The blog started growing and surpassing the money he made in his regular job It also didn’t seem scary because his boss left the door open to return Frugality and Lifestyle inflation Harry talks about how he is reasonably frugal but not extremely He also talks about how some lifestyle inflation is positive Nothing over the top but things that make his life more comfortable and less stressful Deeper info on Uber / Lyft and Rideshare Guy It’s important to keep in mind the pros/cons One big benefit over a similar paying job is the flexibility It also gives you good practice to balancing accounts for running a business At the end of the day, all the things on the sites are just logistics Getting something from point A to point B He also talks about some of the locally specific gigs These may pay more and even come with more traditional benefits Getting the most out of being an Uber/Lyft driver Harry recommends a used fuel-efficient car, imagine a ~2014 Prius Then he talks about options that allow you to only do pickup/drop-offs along your route So you could add this into your normal day Then Harry talks about liabilities Different insurances and protections to keep customers from coming after your assets It’s not worth ruining your life over a side hustle if you have a lot of assets If you don’t have much to your name, it’s a little less stressful Another good tip is driving weekend nights and workday commutes It’s also important to keep up with miles to deduct those expenses from your taxes Check out his course, Maximum Ridesharing Profits, if you’re looking for an all-in-one resource to crush the rideshare side hustle game Beyond Uber / Lyft Harry notes that most people only drive temporarily He wanted to start focusing on the jobs these drivers are transitioning to He’s done a lot of coverage on transportation jobs like truck driving/taxi drivers Then other demand-based jobs that have similar setups But these are in completely different fields than transportation like a notary of the public These are all covered under the “Thinking Beyond Rideshare” category     Key Takeaways Provide Value: Harry was successful because he gave a ton of value to readers and not just fluff that anyone could talk about but actual data 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! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subt

Today’s episode features Rob from The Simple Startup. Rob had an interesting childhood were he got most of his early education in Ireland. This gave him an opportunity to be exposed to unique learning environments that don’t typically exist in the United States. Now Rob is leading by example and teaching his own students these valuable lessons of personal finance and entrepreneurship. He has also taken it one step further by creating a workbook that can spread these lessons to everyone. Listen, learn, and let us know what you think about Rob’s amazing lessons. Episode Summary Rob’s Upbringing Rob feels like he had a lot of great influences early but didn’t bite on the advice In his elementary school in Ireland, he was involved in some saving focused programs About two years ago he started getting involved with teaching financial literacy with younger kids Rob was born in the United States but was in Ireland most of his life until age 21 He comments that you don’t see the drive for FI in Ireland that he’s seen here We discuss differences in pension systems and wages between Ireland and America How Rob Became a Teacher He had several options to choose from between sports medicine, architecture, and teaching Rob mostly went with teaching because he got the summer off and he loves getting outdoors Even the subject he was going to teach just sort of fell into place Rob actually started teaching in 2014 Taking Money to the Next Level Rob admits his wife was better with money when they first met That gap he was noticing drove him to take money more seriously Within 12 months of marriage, they paid off all of their $20k of debt After his debt was paid off, he started focusing more on financial independence Origins of Rob’s Love for Entrepreneurship Rob’s high school in Ireland offered him a gap year that is all around self-development His business teacher made them actually start their own businesses The kids were in charge of the full cycle Rob says it was basically the Lean Startup Model Finding something that can be started with resources you already have on hand That first business was selling baked goods which sold at school They profited about 500 Euros The group actually had their own custom stall and custom aprons Educating the Next Generation of Financially Literate Citizens Rob asks his students on a skill they’d like to learn but never have Then he challenges them to learn that skill without his help and prove their mastery of it Something like changing the oil in a car and creating a YouTube video teaching others to do the same Then he started a club called The Millionaires Club This club is fully self-funded without fundraising They get their money via business they run themselves and can keep 10% of the earnings As he started building out resources and structures for this he decided he should build a workbook This workbook is an actionable workbook that’s very interactive and not just something you read He calls it a how-to guide around starting your first business It’s really targeting teens and young adults This workbook covers the full lifecycle Finding a need, building the business, handling the finances, and pitching it to others   Key Takeaways The Lessons are versatile: Whether it’s business, personal finance, or responsibility — these type of lessons can apply and improve lives in many areas Think outside the box: Rob didn’t let what a teacher normally does define what he was going to do with his students and is seeing the results Call to Action If there is a young person in your sphere of influence that you can encourage to try a project or a small business, then help push and guide them through that experience. If not, try a self inspection and consider starting up a trial run of a business with extremely low startup costs to see if it’s something 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! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. We have both been using Personal Capita

Today’s episode features Gina from The Frugal Convert. Gina has a powerful story of being alone and broke at age 19 with a child to take care of. She didn’t let her circumstances define her and took control of her life. Then over time, things began to slip again and she realized she needed to change at a more conscious level. Now she’s a full-fledged frugal convert and closing in on financial independence. Listen, learn, and let us know what you think about Gina’s wild ride. Episode Summary Gina’s “Jar of Pickles” Moment Gina found herself 19, newly married, and pregnant and totally broke. Her then-husband took her phone, car, credit cards…everything She was hungry and alone in her home and had nothing to eat but pickles Then she found herself on the floor crying Gina then started going through all the bad decisions she’d made in her life that led to this But then she decided she could take control She divorced him and life moved on Now she’s married to the man of her dreams Gina takes steps back again Things were going well for a while after her wake-up moment Then Gina got comfortable and started racking up credit card debt She and her husband were happy and well employed but her habits hadn’t changed Then they found themselves in over $100k in debt Earlier in life, she had racked up debt She had done this because her rent was $1150, she was going to college, had a kid, and only earned $1200 per month Gina would get a loan to consolidate her debt but then keep racking up more with the new limit Making Habits Stick Gina realized that she would have to really change her habits to turn her life around Her first step was to start really tracking her spending It wasn’t cold turkey, she just lowered the frequency of disposable spending Eating out once a week instead of three times a week, etc She admits she tried to make a budget before she tracked her spending That is generally a big mistake and leads to failure Without a point in time, it is hard to make reasonable projections She also says that a budget should be a living document It can’t be something you set and never adjust Gina utilizes an excel spreadsheet and breaks it into four categories The first is survival – food, utilities, rent The second is debt The third is extras – Netflix, eating out, etc The fourth is fun money – even if you still have some debt to pay off Redefining Frugality It’s not about deprivation, it’s about reprioritization It is fun and rewarding to be frugal You become picky about what you spend your money on and only focus it on things you’re excited about She also began to realize that she was actually just buying things because it was a habit It wasn’t that she needed them or even wanted them long term Now she’s much more into decluttering and keeping things simple Finally, Gina walks us through how this is all possible in Los Angeles She also shares budgeting with her kids They don’t feel deprived, they are just getting educated and comfortable with money Leaving A Legacy She really wants to follow her passions full time and step away from traditional work Gina also wants to get more into real estate and having extra streams of income In 2007 they had bought a condo, then the 2009 crash happened Her husband lost his job because it was tied to the mortgage industry She was furloughed due to the turndown So her focus will be on diversifying their income streams Her real passion is going out and being hands-on with moms in the welfare She wants to develop programs they can use to take control of their finances   Key Takeaways When Life Hands you Lemons: Gina had every right to be down on life and never crawl out of her low spots, but she always learned and improved herself. Behind Every Paycheck is a Passion: Gina acknowledges that her day to day job isn’t 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! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio manage

Today’s episode features Robert from Stop Ironing Shirts. Robert worked his way up the sales career path. Then in 2019, he retired with over 28x his annual expenses. Fast forward to today and he saw that shrink to 18x his expenses. People often always wonder what it would be like if they retired just before a crash. Now you have the opportunity to see how that looks first hand. Listen, learn, and let us know what you think about Robert’s wild ride. Episode Summary Robert’s Journey to FI Robert didn’t have much money growing up He started noticing the people around him who did Then he tried to reverse engineer how they got there He contrasts how his grandparents had a structured career path and his parents didn’t His dad did end up in sales which is where Robert first found the career path Robert Finds His Career He graduated high school in 2000 Robert thought he’d go into computer programming That quickly changed when he hated programming Then he got a department store job celling cell phones This made him realize sales was for him Robert goes over how sales have no politics or ambiguity in pay It also means that you can make as much as you can perform Robert Experiences His First Crash Robert talks about his experience with the 2008 crash He talks about how his 401k was less than his contributions even with company match Then he talks about how you just have to keep plugging away when it’s dropping Your earnings in a savings account simply can’t keep up with inflation Robert Discovers FI He talks about the life decisions he made once he discovered the FI movement in 2013 The canceled fancy hotels and tried to do some of their own home renovations Some of those changes didn’t pan out but the overall path was clear for them They looked and felt like they could retire around 5 years from that moment In 2015 he had a good job opportunity and it locked him into three more years The timing worked out pretty well but pulling the trigger was still scary Crash Take 2 Robert now talks us through what life has been like during this latest crash He went from Fat FIRE to Lean Fire in one month Robert had also taken on a little side gig but was let go because of the turndown He says at this point you just have to give up control By this he means, just stay the course and don’t do anything rash Robert also gives us insight into which individual stocks may or may not be favorable as we come out of this crash Especially focusing on companies that are getting bailouts which hinder investors And rest easy, Robert says he’s nowhere near considering full-time work   Key Takeaways Sell Your Salary: Robert walks us through the high earning potential that sales brings Trust the Process: Losing 10x your annual expenses in a month can be disturbing but Robert isn’t giving up on the process Call to Action Research some companies you’re interested in, you don’t have to make any individual stock purchases but it can be a fun exercise to vet companies that you may be interested in. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your 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!   Robert’s Information Robert’s Website: Stop Ironing Shirts Twitter: @StIroningShirts Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Dustin Mathews from WealthFit. Dustin worked for and built several businesses. Some of these businesses had huge incomes and expenses but Dustin found himself without a ton to show for it. Then Dustin discovers FI and starts radically changing how he lived and starts spreading financial advice himself. Listen, learn, and let us know what you think about Dustin’s amazing turnaround. Episode Summary Dustin’s Journey to FI He attributes Rich Dad Poor Dad as his entry into FI Most of his work / finance life was around building a business and selling it He started out with some startups but then decided to create his own business Dustin admits he didn’t mind racking up debt for these businesses He attributes his entrepreneur spirit from his mom Dustin’s First Business As part of a mastermind, he found someone who could use some marketing help The business was selling courses around lines of credit for businesses A big recommendation Dustin give is doing lots of small changes and testing along the way. After Discovering FI He walks us through the tough conversations with his wife Dustin also said that for tracking expenses, a google sheet stuck with him where fancy apps didn’t Then Dustin got the opportunity to go work for Wealthfit Stepping Back to His Six-Figure Courses He starts getting involved in product launches which were very profitable Then he starts a seminar business around teaching others to do product launches These seminars could bring in over $1M a year That would be over $250k over three days It’s important to remember that was gross income The business kept sprawling with more expenses On top of that, Dustin was spending all his money without worrying about saving Teaching Others From His Mistakes When Dustin got the opportunity to work at Wealthfit he was excited Excited to help others avoid mistakes he made with his businesses and personally grow He calls Wealthfit the Netflix of personal finance They have courses and materials around both personal finance and entrepreneurship/side hustles We wrap up with Dustin sharing how he landed Dennis Rodman on his podcast   Key Takeaways Easy Come, Easy Go: It’s awesome to grow your income but you need both intentional spending and income in order to make progress Lift others with your mistakes: We loved how Dustin brings his knowledge and opens up about his failures in a way to help others People can change: Dustin has felt what it’s like to live a life full of expenses and huge incomes but the FI message still resonated eventually Call to Action Slow down a little if you still haven’t found your purpose and re-evaluate that your money and effort are aligned with your goals. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Partners We are completely obsessed with tracking our net worth to understand our current financial positions (you should be too). Instead of spending dozens of hours adding up all our assets and subtracting our debts, we use a free service called Personal Capital. This free, easy-to-use portfolio management tool aggregates all of your financial data and helps to track your spending, net worth, and investment accounts. Keeping track of your money has never been easier. With 1.6 million users and growing, this platform is becoming a leader in its industry. We have both been using Personal Capital for years and highly recommend it. Sign up for your free account here!   Dustin’s Information His Own Podcast: Get Wealthfit Twitter: @DustinMatthews Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from your hosts only. Hopefully, you find some comfort in today’s episode during this uncertain time. This episode is covering the Coronavirus, how it impacts us mentally, physically, and financially even if we’re lucky enough to avoid getting sick. These are certainly tough times but we hope there are some bright spots you can use as motivation to get through this. We don’t know how long this could last, so let’s get through this prepared and together. Listen, learn, and let us know what you think. Episode Summary Topics Covered in Todays Podcast Focusing on Coronavirus and FI We start off covering current correction We’re currently at late 2016 levels Then talk through scenarios if you pulled out of the market in 2008 and stayed out for X number of years Even if you invested at the height of the market (September 2008), your annualized, inflation-adjusted return as of March 2020 is 4.5% Federal tax filing deadlines and payments extended to July 15 (including estimated quarterly payments) Cover importance of having an emergency fund Briefly touch on unemployment benefits Share our thoughts on if we get stimulus checks, what you could do with it Go over side hustling / extra income ideas We look at how you can support local businesses and yourself Do you have tech skills? Help companies go digital as a consultant Share our opinions on stopping the spread of the virus (incubation period, social distancing, etc.) Give insight into our own personal impacts with travel etc Brainstorm some low cost/ free hobbies you can do online Help you see how Zoom/Skype tech can replace happy hours and social events Emphasize fitness while quarantined Try to highlight the money you’ll be saving during a quarantine Then look to share some potential escapes you can still do that are quarantine friendly Running Camping Biking Photography Road trips We go into over-preparing, mentally and financially, for the potential that life remains in an altered state for many months Finally, we remind you that now is the perfect time for projects you’ve been putting off, now is the perfect time to accomplish   Key Takeaways This could take time: We have to plan both mentally and financially for uncertain times to consider for many months. Silver Linings: It’s certainly not a situation any of us want to be in, but what can we do to come out of this as strong as possible? FI is here to stay: There are voices out there calling for the end of FI, but there will never be a reason to stop aligning your spending to your values, living responsibly, and educating yourself on finances. Call to Action Really think through and put together a plan for how you can last 8+ months living in this way that covers you financially, emotionally, and physically Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Christine Hughey who owns A Little Local Flavor food tour business. Christine navigated several cities and years to land her dream job in Nashville. Then shortly after, Christine would be celebrating a new marriage and devastated by their household income dropping from $120k to $35k. At the bottom, she took a challenge to start her own business and in no time had created a six-figure food tour company that is growing at leaps and bounds. Listen, learn, and let us know what you think about Christine’s amazing turnaround. Episode Summary Christine’s background She feels like she had a better than average financial understanding growing up Christine would go visit who are Grandmother who tasked them with tracking stock prices Her Grandmother would also buy them small stocks in companies they understood It gave them something to chat about over their times apart Christine admits that she took all those lessons for granted until much later When it was time to go to college, Christine wanted to get into the print industry This ended up requiring her to get an engineering degree at the college she was at From there she moved to Colorado and got a job she did not enjoy Journey Towards FI In 2006 she is making around $35k per year and saving around $200 per month She also realized a true engineering job wasn’t going to be there for her in Denver From there she moved to a small town in Texas for a few years Then her dream job opened up in Nashville, TN Things Begin to Fall Apart We’re now entering 2013 on the journey and Christine is hitting her groove Until she is shocked to find out that she’ll be losing that dream job quickly after starting Leading up to this, they had tried to push more and more work on her with no increased pay Christine’s husband helped her through this down period Then she got a new contract for a dream job as an engineer and things were looking up Then six weeks after their honeymoon, that new contract got pulled and she was unemployed On top of this, her husband lost his largest income-generating gig Six weeks after their honeymoon they saw their pay get cut from $120k to $35k They started cutting all expenses and downsizing their house Christine admits that the whole experience was crushing She vowed to never let one company be the source of her income The turnaround Christine finally finds work at a food tour company in Nashville The hours are long and the pay had gotten cut in half Then January 2018 happened and her life completely changed This was when she attended her first financial independence event Christine attended CampFI down in Florida At the conference, she was challenged to start her own food tour company When she got home, she quit her job and started her own business that May This was the start of A Little Local Flavor Building a Six-Figure Business Christine admits she was out of her comfort zone What got her through was just taking one small step every day Most of her education came from podcasts It took some time for her to shed being an engineer as her identity As she built her team she had several keys she wanted to hit Some things she wanted was to fair pay, have strong values, and a good work environment She then layers in lots of bonuses into her employees’ pay This small step really incentivizes them to do great work By the end of 2018, they had over $60k in sales But then 2019 grew like crazy She grew her team to include 8 employees They also saw the number of visitors grow to 4400 and sales to $330k With that, they took home 23% as profit Christine expects to grow that margin and increase tour types and locations Her 2020 goal is $500k for the company She also hopes to be able to scale back her involvement   Key Takeaways Social Currency: Christine talks about how to put out goodwill and fair pay and that’ll come back in multiples 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. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any oth

Today’s episode features Tyson Koska from OnTrajectory. Tyson joined the Army when he didn’t have enough money to go to the college he wanted. Later, he would end up with an English and Philosophy degree which didn’t land him a job. He fell back on an old skill of programming and up-skilled his way into eventually making six figures. Listen, learn, and let us know what you think about Tyson’s amazing turnaround. Episode Summary Tyson’s background From a young age, he had jobs and tried to make his own money His goal has always been to be independent When it was time to go to college his parents offered to help But for them to do so he would have to live at home Instead, he decided to join the Army and became a helicopter pilot Tyson admitted he made a lot of missteps when he first started working He blew all his money and racked up credit cards Reinventing and Up-Skilling He left the military in 1992 In the end, he would end up in that little local college after all Tyson decided to study English and philosophy Those majors didn’t provide any job prospects Tyson fell back on his old skill of programming that he learned at age 13 This spun into a job and a pipeline for up-skilling Over that stint, he would climb from $30k income to over $100k His income was increasing but so was his spending Tyson says that was largely due to marrying the wrong person Then we discussed what really flipped the switch for him He recalls a friend who wanted to open a McDonald’s His friend said he needed $100k to do so That sounded like a ridiculous amount of money to him but inspired him Creating OnTrajectory Another big turning point was when his second kid was on the way There was so much unknown and he couldn’t find a tool to help him plan for them This need led him to build OnTrajectory Now he sees both individuals and advisory firms using the tool It’s also available for a free 30-day trial with no credit card needed to sign up Then Tyson walks us through all the incredible detail you can get from the app There are walkthroughs on YouTube as well as several guides It’s a really cool tool that allows you to insert tons of complicated life events into your projections   Key Takeaways Mistakes Happen: Tyson calls out several missteps but he learns from them instead of dwelling on them Life is Complicated: OnTrajectory was born out of this idea to model all the crazy life events we can run into Call to Action Head on over to OnTrajectory to start your 30-day free trial and see what your plan looks like with all those important life moments. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   T’s Information His Website: OnTrajectory.com Via E-Mail: [email protected] or [email protected]   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Josh Overmyer from JoshOvermyer.com Josh lost his job and a major chunk of his home value in 2009. That would force him back under his parents’ roof for two years. Luckily he turned things around and discovered FI but it wasn’t all roses. Josh takes us through that whole journey including bouncing back from failures with precious metals, penny stocks and peer to peer lending. Listen, learn, and let us know what you think. Episode Summary Josh’s background Grew up in small-town Indiana Dad worked in a factory, Mom works as HR manager both 20+ year careers First in his family with a 4-year degree He majored in Urban development Moved down to Fort Myers Florida in 2005 The Great Recession Hits Then the recession hit and work came to a halt Then in July 2009, he lost his job Josh then moved back home to stay above water He had bought a house that saw its value get severely lowered Josh had to keep up a low-cost lifestyle for two years He averaged $19k in spending Josh would move out of his parents’ house in 2011 Bumpy Path to FI Then he started finding FI/RE bloggers like J Money Josh eventually found a job in grant administration Then Josh starts talking about the failures he’s learned from These include investing in precious metals, penny stocks, and peer to peer lending Hitting His Stride Josh would land a new job back down in Florida At the exact same time, he would start driving for Uber He just kept saving and saving July of 2017 he started maxing out his 457 Over his 3.5 years working in Florida he would start at 30% and ramp-up Josh then covers all the activities he takes place in the FI community In his day to day life, he doesn’t have people to talk about Finance with But through FinCon and CampFI he has found his people He has also credited Travel Rewards as the biggest game-changer for him The whole 3.5 years he worked he didn’t have vacation so he saved points Now he’s utilizing those points and recommends the Capital One credit card Josh then talks about how to hit those minimum spends   Key Takeaways Life hits hard: Josh never could have seen his world flipped upside down from the recession, but it did and he wasn’t prepared Learning from mistakes: Josh tried several different angles at investing before finding his groove Stay Positive: Josh is so upbeat about his story and now in a great place and will be ready for the next market challenge Call to Action Head over to our Facebook Group and let us know a failure you’ve had and what you learned from it. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   Josh’s Information His Blog: JoshOvermyer.com Twitter: @JOvermyer1   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from just your Hosts! That’s right, no guests today, but plenty of voices will be heard. This episode is covering the 2020 goals we sourced from our Community Facebook Page. In today’s episode, the guys share with you the powerful goals The FI Show group set for 2020. As always the Community Facebook Page has set the bar high and brought us some impressive ambitions that we can’t wait to follow and help motivate! As always the hosts will also be transparent with their financial goals for 2020. Hopefully, you enjoy this special episode! Listen, learn, and let us know what you think. Episode Summary Goals from various community members 345 bench / 445 squat / 515 deadlift Add $100k to their net-worth Visit 15 new countries Publish a second book Finalize estate plan Quit jobs and fix up Air BnBs Pay off student loans Buy first house hack Positive net-worth Attend 2020 FinCon Complete triathlon Make $35k from rentals Buy replacement commuter car Put extra $12k towards mortgage Payoff house Zero consumer debt Max out IRAs The Hosts Share Their 2020 Goals Justin Finish a half marathon length spartan race Put $100k into the stock market Make $1800 selling blood / blood cells Link To Learn More – Tell them Justin sent you! Finish 2012 Ford Transit camper-van conversion Have an 80%+ savings rate Hit his FI Number ($550k)   Cody Get to his lowest body fat % of his life Buy a house hack Invest $50k into retirement accounts Take one memorable trip every month Volunteer more Push himself and take a risk   Podcast Get an A-list celebrity / athlete on the show Double listeners and community members Hit the road and meet the community in person   Key Takeaway This community is ambitious: We were amazed to see how strong some of these goals were but based on the 2019 progress, we know they are going to hit them. Call to Action Join the FI Show Community Page and share your goals with someone! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode features Rebecca from My Fat Purse. She breaks down how she and her husband paid down his $180k student loan debt in just 2 years. Rebecca and her husband gave up pensions from the military and are poised to hit FI in 5 years. She talks about how powerful tracking their spending and avoiding lifestyle inflation was to this journey. Listen, learn, and let us know what you think. Episode Summary Rebecca’s background She started taking her finances seriously after marriage Rebecca’s husband came into the marriage with $180k of debt They paid that debt off in 2 years Rebecca graduated without any student loan debt thanks to the military She studied mathematics for her bachelors Then she got paid by the Air Force to get her masters Paying Down $180k Debt Rebecca attributes tracking expenses as the most powerful force to paying off debt They put all of one salary completely towards debt She also calls out how important it was to avoid lifestyle inflation That refers to slowly spending more money over time Rebecca’s husband was also in the Air Force He was supposed to be on scholarship but ended up losing on it She covers that tough decision on giving up a pension and chasing FI Life After the Military Her husband took a slight hit in income and she saw a raise Rebecca stuck with working for the military as a contractor Her husband decided to completely change up his job They now have control over where they live but decided to stay in Colorado This was mostly due to her husband’s job and ease for her to find a good job Path to FI They have purchased two homes One is their primary residence The other was for renting out on Air BnB That experiment didn’t turn out well so they sold it Outside of their primary residence, they keep it simple with a three-fund portfolio Rebecca feels they are five years away from financial independence Next Rebecca walks through why and how they combined finances They do keep separate accounts for some flexible spending Budget Tracking Rebecca really emphasized tracking spending and how she does it She started with Mint Recently she transitioned to an app called EveryDollar She also has built a very robust tracker you can download   Key Takeaways True Partnerships: Rebecca didn’t put all the debt payoff on her husband, she knew that their goals were tied together and decided to help Tracking not budgeting: People often think you have to set limits on yourself when in reality, simply knowing where your money goes is the first step Not all real estate is gold: Just a nice reminder that while real estate is extremely powerful, it’s not foolproof as Rebecca found out Call to Action Take some time and completely track your expenses for 1-3 months even if you’ve done so in the past. This can help make sure you fully understand where all your money is headed. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   Rebecca’s Information Her Blog: My Fat Purse Instagram: @MyFatPurse Facebook: My Fat Purse   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today’s episode is an awesome chat with Purple from A Purple Life. Purple has an awesome story and she hits a giant milestone of retirement at age 30 this year. She covers how she continued to jump jobs in a way to increase her salary 3x while raising job satisfaction. Listen, learn, and let us know what you think. Episode Summary Purple Beginnings Purple was introduced to financial independence by her partner However, she didn’t listen to his advice for two years She felt she had things in order to retire in her 50s Her mom actually retired in her 30s Purples mom also helped build financial understanding She would give purple $1 for chores but remove taxes first Purple talks about being frugal in high school and college Her degree was in American Studies She ended up landing a job in advertising Then New York happened She said she was brainwashed there Expensive heels and purse subscriptions ensued Job Hopping Her first New York job paid about $35k She was also super unhappy and stressed Purple quit that job without another one lined up She was hired in a couple of weeks with a promotion and $13k raise That made her realize how much she could leverage job offers The next job was another $17k raise which put her up to $65k Then she looked to start dropping her expenses This would take her out to Seattle which was half the cost of Manhattan Job hops would continue until her salary today of $110k In total, she had 3x her income and cut living costs in half between rent and taxes FIRE Ignites It started clicking that these voices like Mr. Money Mustache were actually realistic She got a lot more serious about all her line items A big one she calls out is learning to cook After things settled, she realized she could and will retire at 30 Her Why of FIRE She doesn’t want to be held to a schedule… that simple Purple doesn’t hate her job and even gets to work from home She also plans to stop renting and slow travel all over the world Purple admits she doesn’t know if being a nomad will be for her Her target date is September 2020 Why her Journey works Never owned a car Doesn’t want a house Will not have children Started investing early Only spends $18k per year Net-worth 2015 – $89k 2016 – $137k 2017 – $234k 2018 – $280k 2019 – $448 Projected $500k at retirement She’s super flexible Un-productivity Advocate Purple is a hard worker and type-A But she recognizes too many people equate being busy as successful There’s no strong desire with her for a side hustle It’s important for her as an introvert to take time and recharge She does, however, plan on continuing her blog And she also uses the app Job Spotter to make some money on the side   Key Takeaways Leverage Yourself: You make $x today but that doesn’t mean it’s what you’re worth. Don’t underestimate your value. Compounding is Strong: Purple started not making a ton and living in a very expensive place but now she’s retiring at 30. It worked because she started early and just kept saving. Busy isn’t required: Purple calls out how we don’t have to inject stress, plans and work into our lives, that it’s ok to just relax. Call to Action Take a look at your skills and how they could fit in a different role or company that allows you to up your salary. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20, and (d) your Empower AutoSave account must have reached a balance milestone of $100 or more 30 days after opening the account. The bonus will be paid into your Empower AutoSave account on or around the 4th of the month following the achievement of the balance milestone. Must be a new Empower customer to qualify.   Purple’s Information Her Blog: A Purple Life Twitter – @APurpleLifeBlog Instagram – @APurpleLife   Lear

Today’s episode is an awesome chat with Jillian from the Everyday Courage Podcast. As a young adult, Jillian had huge goals in life to adopt children, travel the world, and hit financial independence. Then, Jillian hit all these things by the age of 32. While it is amazing to hit goals early, it can leave you devoid of a north star. Now she is helping others through coaching and this podcast to find their own goals and push themselves Especially those parts of our lives where we settle and tell ourselves that ‘it’s ok” or “it’s good enough”. “Avoiding the 6’s” as she calls it. Listen, learn, and let us know what you think. Episode Summary Jillian’s Background Jillian got married at age 19 She saw from an early age that money gave you options They started off their marriage with $55k worth of debt From the start, they always stuck to a goal to save 50% They made some difficult choices like living in a camper or roommates They would end up investing and buying rentals This would lead them to be financially independent at age 32 Their goal was certainly never that early in the beginning Jillian credits her small-town upbringing for her strong work ethic She also notes that hard work gave here control she craved Her home life was rough at times and out of control Everyday Courage Podcast Jillian discusses how we typically see courage as huge events In reality, there are moments every day where we can do courageous things Success is like this too where there are small wins all around us She warns against having peak experiences with unfulfilling large gaps between Then we start talking about success She breaks down how success is so different for everyone Jillian talks about how to keep going once you met all your goals She thought she had a lifetime of goals but hit them by 32 She talks about the amount of reflection that takes Jillian also describes how luxuries become necessities as you grow Now she has big goals that have no time limit She explains the importance of imagining yourself as the person who has met your goals Then think about what gaps exist between that person and who you are now. Avoiding the 6s When we’re in a situation that’s a 2 out of 10 there’s little risk As in, if you quit a job that’s a 2, how much worse could the next job be in comparison Then if it’s an 8+ it’s where we want to be The problem comes in the “good enough” are of the 6 Doesn’t everyone struggle with fitness, relationships, work/life balance, etc When pressed on these situations they feel like “it’s ok” Jillian urges people to not settle into these 6s She tries to focus in on things that people hesitate around Finding the things in your life that you procrastinate around Then understand where that resistance is coming from Mostly being aware of the resistance and having the curiosity to solve it The layout of the podcast The show is set up in seasons around a theme and interview They are set up to be really short listens There will also be a workbook where people can follow along Episodes are only 6-20 minutes long One episode comes out every week The seasons are wrapped up in two-month chunks   Key Takeaways Courage every day: Jillian’s premise is that we all have things in our lives that we can work towards every day that takes a little courage. Define your success: Don’t let someone else set your goals for you because even if you meet them you won’t be fulfilled. Luxuries to necessities: Jillian explains how coaching or retreats may be luxuries at first but as you continue they can become necessary to your growth Call to Action Find a “6” in your life and push yourself to make progress in that area and not settle. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Empower is a mobile app that makes managing your money the easiest thing you do all day. How? Automated saving. Painless budgeting and spend tracking. Human coaches ready to share personalized recommendations on how to pay down debt, uncover extra savings, and tackle any other finance question on your mind. Proactive tips and up-to-the-minute alerts to help you make better financial choices in real-time. Make sure to use offer code FISHOW when you sign up to earn a $5 bonus when you reach your savings goal! To be eligible to receive the $5 bonus, (a) you must enter offer code FISHOW at signup, (b) you must be an active Empower subscriber, (c) you must open your Empower AutoSave account no later than 4/30/20,

Today’s episode is an awesome chat with Emil from Roofstock. Emil covers why he wanted to get into real estate and what held him back. He knew his area of California was too expensive and discovered the idea of long-distance real estate. Roofstock gave him the tools and confidence to make his real estate dreams a reality. Then a couple of years later he actually joined the company and is here today to walk us all through his journey and what Roofstock could bring to the community. Listen, learn, and let us know what you think. Episode Summary Emil’s Background Emil was instilled with values early from his frugal parents In high school, he got interested in stocks and started self investing At the time he was picking individual stocks but doesn’t advise that He luckily had a friend who was like a child genius with stocks When heading out for college he needed a car and sold his stocks to purchase one In college, he studied economics His first job would be aggregating data on pharmaceutical companies It’s clear Emil gets a ton from his time working across a few startups Emil also stresses the importance of Networking It would ultimately lead to his job at Roofstock   Emil’s Journey to Roofstock Emil became a user of Roofstock in 2017 At the time the company wasn’t at a point to bring on remote workers He would continue to send marketing materials to Roofstock that he thought the could use Over time Roofstock opened up remote positions and he went to work with them Emil had a strong connection to the company because he always wanted to invest in real estate His dad actually had been investing in real estate for a long time The problem for Emil was the prices that were near him So he got interested in remote real estate That’s where Roofstock came in to save the day He now has several properties over multiple states including Florida and Indiana. He bought his first home in 2017 for $84k in Jacksonville with an original rent of $900 The property had a new roof and HVAC so it almost turn-key Today it is renting for $954 He also has never had to change tenants Total cash-flow has been $8,200 Appreciation has also increased the property value by $26k Roofstock Details Roofstock links you up with preferred property managers You’re not required to use them but you’re not forced to find someone Roofstock makes their money during the sale of the homes It’s actually a great deal for both the buyer and seller The seller ends up paying 2.5% vs a standard 6% for the sale Then the buyer pays $500 but gets a ton of support Beyond the property manager help, they also have preferred lenders Emil scans Roofstock to find states with good returns Then he looks for states that have landlord-friendly laws to avoid squatters He also recommends job and population growth Most properties have an inspection report This inspection report also comes with an estimate to get it rent-ready Then you can leverage the property manager to find a trusted contractor Roofstock Guarantees If you’re not happy with a purchase, roofstock will help you sell it If it’s not sold after 90 days, roofstock actually buys it back They also have a rent guarantee This kicks in if you can’t rent a property after 45 days After that point, Roofstock will pay 75% of rent It does require some things on your end You’re using a preferred property manager The home is rent ready Rent isn’t set at an unreasonable level Free to Sign Up Yep, Roofstock is 100% free to sign up You only need an account for certain functionalities, but still free Currently, they service residential only but up to 4 unit properties   Key Takeaways Everything gets disrupted: It’s awesome to see a service like this trying to take something traditional and put a unique twist on it. 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. 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. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors Are you interested in real estate, but feel like

Today’s episode was recorded live at Camp FI down near Gainesville, Florida. Camp FI is a retreat of 40-60 people at locations across the country filled with people chasing FI and supporting fellow members of the community. This episode highlights people who were convinced to come to CampFI without any background to the FI/RE movement. Two other interviews include a graduate student studying the FI/RE movement and the camp’s creator, Stephen. Stephen talks about the origins and future of this camp and the motivations to keep this community growing. Listen, learn, and let us know what you think. Episode Summary Laura Inspired by an interview with Vicki Robbins She was drawn by the way people see the role of work in their lives The community was also very open to being researched She noted how diverse the age and background was of the movement It also came out that most people actually love their jobs The last thing she called out was how intentional and conscious of their decisions You can email her at [email protected] if you’re interested in being interviewed Mike He never could have imagined being at a conference like this A friend of his recommended that he came He notes how ready he is to take action the minute he gets home Mike really recommends that people give this community a chance Tactically he got an overview on how to get his realtor’s license He didn’t image the generosity that he found with the community Roople Rupel is a practicing physician She loves the challenge of why you’re living life the way you are Rupel calls out the trouble she sees with physician burnout She also noted how easy it was to have deep, personal conversations with this community While at the conference she moved investments away from higher fee options to low-cost index funds She hopes that doctors will dig a little deeper and find why they love doing what they do Refocusing on that and restructuring their life she hopes will alleviate the burnout Since hearing about the movement, she ditched her overpriced apartment and bought a home Creator of CampFI – Stephen Stephen tried to make more of an emphasis on making real connections with the attendees He hopes that people who are looking to get involved with FI/RE community will just jump in Stephen first attended a camp like this in 2016 and knew he had to spread this idea to more people This year they look to have at least nine of these camps all across the country Stephen had no background in event planning and didn’t know what to expect Luckily everyone showed up who bought tickets the first year Also worth noting that CampFI is where Cody & Justin met and The FI Show was born   Key Takeaways FI isn’t so different: Many of the stories we heard from FI “newbies” during the week mentioned that this community isn’t just a bunch of “weirdos” and “money nerds”. It’s just people making slightly more conscious decisions. So many paths: There was so much diversity: age, gender, profession, and general paths to FI. It showed just how many ways there are. People are good: The American news cycles are often rough and draining. It’s nice reminding yourself just how good people really are. Call to Action Start leaning on or creating a community around you that supports your growth as a person and your goals to reaching FI. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same. Learn more about CampFI Buy Tickets – CampFI Twitter – @togetherwefi   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from Court who writes over at Modern FImily. Court and her wife are (mostly) retiring early in Canada at 32, but will continue work a bit more until their second child is born. They did this with student debt and a priority for living a full life while chasing their dreams. Listen, learn, and let us know what you think. Episode Summary Discovering Financial Independence Court had $70k of student debt after her bachelors and masters degree She’d start her career in 2009 She was focused on getting out of debt Court paid it off in 2.5 years At this point, she looks to buy her first home She then also discovers Mr. Money Mustache Starting a career She had the opportunity to participate in this rotational program It allowed her to rotate three times in six-month time segments across different jobs That gave her a wider view of options and allowed her to choose one right for her Start of a family She would meet her now wife in 2011 Her wife would also end up with some student debt It was obvious right away that both were frugal and passionate about travel Court drove the spreadsheet part of the relationship but their goals align Looking forward After getting married in 2015 they start designing their future Court’s wife was originally from Canada and they set their sites there They would sell their home and all their things in Florida Then they traveled for 6 months before moving up to Calgary Court thought she’d a while to find a job and might travel another 6 months Luckily the job came through sooner Court was frugal but didn’t have the investing background until finding the FI community They welcomed their first child in 2018 and are planning for a second Canadian Perks Canada gives 18 months of paid time off for new parents This nets around $25k per year The insurance is incredible She tells a story of going to the emergency room with less than $20 out of pocket The medical bills for the birth of their child were limited to parking at the hospital Court got her citizenship through her dad but could have gotten it through her wife She also still gets U.S. perks like good travel rewards credit cards Canada also gives you around $5k per year for children up to 17 years old Canada will also give you $500 via match into an education saving plan They also have payments to citizens over the age of 65 that’s based off income She also says that taxes are actually not that much higher than the USA Looking Forward Court lays out her withdrawal plan for retirement She’s moved to 60/40 stocks as she’s about to stop working There is a plan to get back to 80/20 after a few years in retirement They plan to try and have a second child Court goes over some of the considerations for a lesbian couple having children They saved and planned for a 4% withdrawal rate They believe they can be happy with closer to a 2% withdrawal rate   Key Takeaways Better than expected: Court talks about how much faster FI came than expected Canada has perks: It’s so important to enjoy the journey on your way to retirement Power in learning: Court wasn’t from Canada but she’s immersed herself to become an expert Call to Action Take a closer look at the fine print of your city/state/country programs and retirement options and consider what moving might look like. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same. Learn more about Court Via her website Modern FImily Via her Instagram Modern Fimily Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from just your Hosts! That’s right, no guests today, but plenty of voices will be heard. This episode is covering some of the activity that’s been going on in our Community Facebook Page In today’s episode, the guys share with you the powerful accomplishments The FI Show group is achieving. Also if you join the Community Facebook Page, we’re starting a new thread for 2020 goals. Comment with your goals and we’ll feature you on an episode coming out later as well as check-in and keep you accountable! As always they’ll also be transparent with their own wins. Hopefully, you enjoy this special episode! Listen, learn, and let us know what you think. Episode Summary Wins from various community members Set up a Roth IRA for 18 yr old daughter Visited FI friends in 10 states Wrote a book with their daughter Got to at least one comma in each account Wrote a book 5 figures from a side hustle FIREd at 44 then hit UK Chautaqua, CampFI, and FinCon Reached FI at age 30 Maxed out his and wife’s 401k Couple that both FIRE’d before 30 Vacationed and paid off a truck Paid off a mortgage Fired a financial advisor and started to DIY Transitioned to full time selling on Ebay and many more…. One huge transformation Discovered FI on Christmas of last year with only $1,500 in a checking account (plus some mutual funds for retirement) Since then, negotiated a $12k raise Got her company to pay for PMP Volunteered at a startup to learn new skills to switch to a better-paying industry Moved to another job for ANOTHER $30k raise Automated savings to accumulate a $20k emergency fund Maxed out Roth and HSA for the first time, plus getting a 401k match! Took time to think about WHY even pursue FI Now in the process of downsizing life and purchasing an RV to travel the country, see the public lands, and spend more time outdoors! The Hosts Share Too Justin saved 76% and is 80% of his way to FI He spent $23k while living in Boston With $10k of that going to rent…ouch Full break down of expenses for those curious Bills: $1,133 Travel: $315 Misc: $255 Eating out/drinks: $108 Gas: $61 Groceries: $53 Justin started a new job and upped his earnings Some notable trips to Hawaii, Mexico, Colorado, countless other trips and time with family   Cody spent $28k while also living in Boston Quit his job in January of 2019 Toured the country for 3 months living in a camper for Grant Sabatier’s Financial Freedom book tour. Got the Financial Freedom Summit setup for 2020 And took a 3.5 week trip to Peru and Chile in December   Key Takeaway Reflection is Powerful: Both of us and the FI Show community felt so much more motivated to tackle 2020 and just felt so much better about ourselves after we realized how much we all crushed 2019 Call to Action Join the FI Show Community Page! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same.   Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from just your Hosts! That’s right no guests to save the day. As a reminder, Justin chronicles his life at Saving-Sherpa.com and Cody writes at FlytoFI.com In today’s episode, the guys tackle 10 financial tips they always hear and give their take on what’s true. Hopefully, you enjoy this special episode! Listen, learn, and let us know what you think. Episode Summary Credit Card Balances We discuss why you should ALWAYS be using a credit card The need for setting up autopay to pay off the full balance Neither of us recommends carrying any balance Some think it helps build their credit In reality, you’re just setting yourself up to pay a ton of fees The actual factor that relates to this is credit history which doesn’t require a balance Rent vs Buy Justin calls out the importance of keeping in mind closing costs, HOAs, insurance, etc It’s much more complicated than comparing a mortgage to just your rent These things are especially true if you’re moving every two or three years If you can go beyond and do things like house hacking, then buying is certainly a great option Also, keep in mind the non-money part of the decision Owning a house can be stressful and add in more variables to your life New vs Used Justin recommends buying a car that’s 5 years old on a deal Then keep that car for two to three years and try to sell before you hit 100k Justin prefers these cars to be under $10k Cody discusses depreciation and interest rates Justin then compares buying a car and keeping it for 20 years vs rebuying periodically Good vs Bad Debt Obviously there is some debt that’s terrible such as credit cards with 15% interest Then there is a middle ground where it’s debt that doesn’t earn revenue but allows you to invest more Both felt like anything that 4-5% range in interest should just be paid off as quickly as possible Going to College Going to a community college first isn’t a no-brainer Many scholarships that universities offer are only given to incoming freshman Justin would have missed out on 10s of thousands if he went to community college Cody calls out how important it is to just be intentional He also calls out the cool trades and technical skills that don’t require a college degree Filling Up Savings Accounts Justin highlights how destructive inflation can be It’s also scary to see how many people have avoided investing during the last five years These people are often terrified that we’ve hit the top Both guys highly recommend buy and hold as well as getting into the market right away Financial Advisors Justin does see value for some to have a tax specialist but doesn’t see the need for a financial advisor It may be a good idea to pay a one time fee for an advisor to help set up a plan you’re comfortable with That could help you get off the sidelines without being tied down to fees long term These advisors often charge at least 1% which can really add up You can see how much these fees are costing you by using Personal Capital’s Fee Analyzer tool. If the only reason you’re using an advisor is to give you a scapegoat when things go bad, rethink that To round it out, Justin cautions employees from having too much of their portfolio in their employers stock Whole Life Insurance Justin highlights that no reputable financial independence writer has recommended Whole Life insurance People want to sell you these because the salesman gets a royalty for life Whole Life mixes insurance and investing which means neither is as efficient as it could be This doesn’t mean you should necessarily cancel your plan if you’re already deep into it If you’re really interested in this topic, we covered it previously in-depth You can find that episode with Sa El here Also, don’t forget to check out our sponsor Bestow for great insurance 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 &#

In today’s episode, you’ll hear from Lauren and Steven who write over at Trip of a Lifestyle. This awesome couple took a six-month honeymoon to Hawaii and that changed everything. They got a taste of traveling on a budget and earning along the way. We can’t wait to showcase how they took control of their work-life balance and living life to the fullest. Listen, learn, and let us know what you think. Episode Summary Discovering Financial Independence Lauren started paying attention to income in college She worked her way through college with scholarships and jobs Then when her and Steven moved together to California they started talking to advisors Steven’s started getting interested in investing after he started working They ended up getting sold some really bad investments from a bank investor Although it was a bad situation it was a big learning moment They actually came up with this idea of having investments covering your expenses before formally discovering FI It was also really helpful that they started early before they had faced lifestyle inflation The big change for them after finding FI/RE was just saving with more of a purpose They end up moving back to Florida to take advantage of a free master’s program for Steven This program was based on a requirement that Steven would teach for a bit in Florida During his teaching commitment, they got married and started brainstorming their honeymoon Long Term Honeymoon They had a goal of really driving down the cost per day for a Hawaii trip Instead of a week or two, they would stay six months They bought a used car, rented an apartment, and worked 10hrs per week When the trip was over, they had broken even and their net-worth actually grew This trip supercharged their will to retire early Lauren & Steven were actually more excited about work because they knew what they wanted now When they returned to Florida they also bought a small condo for cash Even though they owned their house, they brought in roommates to bring in more money Finding Work-Life Balance To enable this type of travel they leveraged their skills to earn money while on the go Steven picked up some private tutoring jobs They both also do photography Lauren negotiated with her employer for a part-time remote job which they agreed When they would go on trips after buying their condo, they’d sign short term tenants Lauren will also help out small business with social media All 61 National parks in seven months After a period of working after returning from the honeymoon, work started taking a toil They felt really burnt out and felt like they should just be doing more of this travel So they came up with this idea of seeing all 61 national parks Total cost of the trip including van depreciation, healthcare, chartering planes etc was $37k That’s total for two people and seven months It would have only cost $21k if they skipped a couple of the really remote ones Over that seven month period between side jobs and rent, they earned $37k So their income matched their expenses while taking an incredible trip You can get the full breakdown of this trip here Their Spending They have spent $18k-$27k per year They are comfortable not chasing a specific FI number Lauren & Steven look to continue their side jobs but have no interest in starting a business Key Takeaways Test driving FI/RE: Lauren and Steven talk about how their trips are a test run at what financial independence will look like. Avoid burnout at all cost: It’s so important to enjoy the journey on your way to retirement It’s ok to not be a boss: I think it was very insightful that Lauren & Steven would rather use businesses than create one Call to Action Take a mini-FI/RE vacation and take some control over your work-life balance. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same. Learn more about Lauren and Steven

In today’s episode, you’ll hear from Gina who you can learn more about at Horkey Handbook. Gina grew up poor but graduated college at 19 and began a string of successful careers. After burning out in corporate America, she decided to try her hand at entrepreneurship. Now she is running several successful online businesses aimed at helping others become entrepreneurs themselves. Listen, learn, and let us know what you think. Episode Summary She grew up poor and money was always a challenge As kids, she’d have to buy her own clothes even in middle school Gina started babysitting at age 11 But Gina was always driven to make something of her self She actually started going to college while she was an 11th / 12th grader This allowed her to graduate college just before she turned 20 The program is a special thing that Minnesota does and is free Then she ended up getting married at 21 and settled down in her hometown After college, she worked for a company helping people reach fitness goals Then she’d transition careers into being a financial advisor Gina was working 60 hour weeks but was learning a ton It’s obvious that Gina is an extremely hard worker This means that she thrives in a commission-based jobs Her biggest advice for these type jobs is to sell something you’re passionate about She gives some interesting insights into the life of a financial advisor Gina would stay in this career field for 10 years Just before leaving the corporate world they started preparing for a change Her husband quits his job in 2013 to be a stay at home day She knew she wanted to be an entrepreneur and started investigating Gina would start freelancing in several different areas Then she did some virtual assistant working By 2015 she was full-time entrepreneur Her corporate job had been paying about $60k before she left She talks about a lot of the success and benefits One of which is they take a 2-month vacation to the beach in Texas every year They actually unenroll their children from school every year and home school them There were some struggles though She felt guilty being close to her kids but having to work all-day Gina now has a separate location on her property to work in It really helps her separate life and work Gina does struggle with taking on too much work This year she actually stressed herself out so much she grew a dependency on alcohol Luckily she is now been sober for over six months Then Gina goes over some tips for managing stress Her and her husband are both frugal and don’t want a lot of flashy things She does, however, believe in investing in herself Gina actually pays $3k per month for a business coach and it’s totally paying off Her and her husband also utilize a personal trainer Then Gina goes over a laundry list of businesses she’s involved in These include virtual assistant, freelancing, and Pinterest courses Some of these are branching off into niches Such as podcast virtual assistants Key Takeaways Control your income: Gina talks about how a sales-oriented career puts earning power into your own hands Commit Cautiously: Gina put so much into her businesses, but at times pushed herself way too far Branch successes: When Gina finds something is working she doubles down and finds another angle to also go after Call to Action Invest in something that will improve your life. Whether business, fitness, or anything that makes you happy. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same. Learn more about Gina Via her website Horkey Handbook Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from Lisa who writes over at Mad Money Monster. She started off life poor, had a bad first relationship, then discovered Financial Independence. Lisa was in her 30s and went in full force cutting out all her expenses. It turned out to be too harsh and she shifted her mindset to FI/OR. This is Financial Independence / Optional Retirement and she breaks that down for us. Listen, learn, and let us know what you think. Episode Summary She grew up poor so she was always fascinated with money Once she had her kid she really knew finances were important Then she meets her current husband and they start to close on their big dream home Lisa talks about how the home was way out of their price range Luckily the inspector found black mold in the house This meant the deal fell through and they avoided huge debt Lisa was in her mid-30s in 2015 when all this happened Growing up Poor Then Lisa talks about her upbringing in a 400 sq ft trailer She does note that it was in a great school district Most of her classmates lived in big nice houses Neither of her parents graduated high school Justin and Lisa talk about how to fit in when you don’t have money One of the big things was spending a little to get name brand clothes Since they lived in such a small house their family was doing ok They weren’t living on super thin margins but they weren’t saving anything FI Journey Lisa already had her undergrad, masters, and career started before finding financial independence She had been saving for retirement since day one but no extreme focus Lisa steps back in her story to cover a relationship that fell apart earlier in life She ended up leaving their house with nothing Lisa actually owned a home that she rented to her parents but didn’t want to stay there So she ended up renting another apartment Then we step back to what life looked like when she really discovered Financial Independence The day she discovers it, she goes into work and maxes out her 401k contribution Then they started cutting everything No weekly pizza or coffee dates, nothing was off-limits FI/OR – Financial Independence Optional Retirement Lisa goes over the 5 big points of this idea of FI/OR Pressure is off – you don’t have to be extreme and retire super early for no reason Makes work more fun – FIRE made work seem daunting, focusing less on it made work fun Scale back / Stop Side Hustles – these are just second jobs and it can grind you down Gives You Options – now you can focus a little more on the things you love vs rapid spending Lisa’s original goal was to stop working in 2021 and just do nothing Then she started thinking about kid’s college/wedding, vacations, mom’s care Now Lisa is rethinking her timeline and moved it to 2025-2030 She and her husband currently have blogs and rental properties She also admits she could never just retire and do nothing Key Takeaways No money? Spend it anyway: Lisa talks about how important having nice clothes was for her self esteem growing up poor It’s ok to slow down: Obviously Lisa has pivoted and changed her plans and she sounds so much happier with optional retirement. Pick a Partner: We discuss how being cheap is destructive to relationships and the environment Call to Action Slow down a little, spend some time and money on something you love and avoid deprivation. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Check out our Sponsors One of the best ways to protect your family is with term life insurance. Even though we don’t like to think about it, it’s important to have financial protection in case the unexpected happens. Bestow is an awesome and reputable life insurance partner of ours that makes this process simple and easy. They use data to remove the doctor visits and paperwork involved with the traditional life insurance process. And you can apply from anywhere in just minutes. You don’t have to jump through a bunch of hoops to determine your eligibility, you’ll receive an approval response right away. It took me less than 1-minute to get my estimated quote, and you can go and do the same. Learn more about Lisa Via her website Mad Money Monster. Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from MK Williams who authors Financial Independence Fiction. She started out chasing a career for money but found herself unsatisfied. MK studied the art of writing and self-publishing. Now she is authoring books and helping other authors as well. Listen and learn all about side hustles and let us know what you think. Episode Summary MK saw her mom put herself through law school and struggle From there she always wanted to hoard money vs spending it She decided to major in economics This decision was largely to earn a higher income She had a passion for writing but didn’t feel like she had the skills MK graduated in the middle of the recession so no job was lucrative Her first job would come through a fluke all at USAA She had moved down to Florida to live with her parents Her starting salary was $38k but she didn’t love her job While in Tampa she would meet her now-husband Jason Jason actually owned his house and was renting rooms out to people It’s very obvious that Jason and MK are completely on the same frugal page We then discuss how they keep finances straight as a couple They actually just use whatever credit card they need for rewards Writing as a business MK had this dream that she would just write a book and a publisher would show up That didn’t happen She said it took her three to four years of learning to be ready In the end, she settled on self-publishing MK wasn’t driven to write for money at first She then discusses how she grew her brand organically Mk wasn’t open to the idea of just paying for tons of ads to grow Then we talk about MK’s inspiration for her fictional novels She shares a story of her husband who started selling her families stuff at 12 FI Journey MK got out of debt in 2012 Then they discovered Mr. Money Mustache in 2013 The topic didn’t stick at first but then they read Early Retirement Extreme and it stuck this time They had always been good with money but there was no real purpose behind it. Then we swap gears into how she’s helping Fiology and ChooseFI with their books MK is now a full-time author and independent publisher by helping others learn how to self-publish She’s also taking all these lessons and sharing them via her YouTube Channel MK also shares how authors can still provide physical books without huge upfront costs Key Takeaways Partner in crime: It’s so important to get on the same page with your partner, if your not today, just keep working Keep Learning: MK shows how she’s continuously learning such as re-reading Harry Potter to understand how a series builds Cheap is harmful: We discuss how being cheap is destructive to relationships and the environment Call to Action Practice your listening skills, We learn from listening not from speaking. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Learn more about MK Via her website 1MKWilliams.com Read her FI-fiction book Learn about self-publishing via her YouTube Channel Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from Jen who co-hosts the Frugal Friends podcast and writes at Modern Frugality. Jen really didn’t want to become frugal in her 20’s because she was afraid of losing out. Over time she realized the amount of work it was taking to reach her goals was too much. She decided to stop only focusing on more work and begin focusing on frugality. Listen and learn all about side hustles and let us know what you think. Episode Summary The first thing her husband wanted to do after getting married was paying off student debt Jen was not originally on board with this She didn’t want to live under a rock under her 20’s Her husband explained the opportunities that they’d have if they got out of debt They were $78k in debt total The two of them also didn’t have a ton of income Jen came around to getting out of debt but still didn’t want to lower her income She tried to add on three side hustles on top of her job There was so much stress that she ended up with shingles In totality between all their work and side hustles, they were bringing in up to $88k Originally the goal was to be debt-free in 5 years In the end, it turned out to only take 23 months Jen’s Tools for Turning Around Her Finance One of the most powerful tools she used was a method called habit stacking This is where you take one habit you’re good at and sticking another on top Hers was brushing teeth with budgeting tied in on it Jen also really recommends manually tracking vs automated systems at first Another tool Jen used was a no-spend challenge This is where you don’t spend money on any non-critical item for a set period of time Many times people shoot for a month Saving money is good for you and the environment she also calls out Buying cheap things that get tossed lead to waste Cheap vs Frugal Impacting someone else negatively is cheap Impacting yourself negatively is cheap If it’s illegal it’s cheap If something takes you so much time to save money that you’re not there for someone else it’s cheap Key Takeaways Less is more: Jen actually became happier in life after stripping off unnecessary spending instead of it being a burden Saving is self cafe: She talked about how so many of the things we spend money on take us away from things we really care about Cheap is harmful: We discuss how being cheap is destructive to relationships and the environment Call to Action Assign a value on a scale of your choosing to the expenses in a certain category. Start reducing the ones you value least. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Learn more about Jen Via her podcast One of her books -> Saving with Spunk, The No Spend Challenge, Meal Plan on a Budget Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from Mrs. Miller who writes over at Millers On Fire. Mrs. Miller grew up in the Bronx surrounded by low incomes and not much excess. She gets out and her salaries begin to really climb. Once she passed the six-figure mark, she started feeling the guild of success. At age 32, she comes to terms with what she’d achieved and found a new motivation in a journey to financial independence. She also shares her experience with the Blogging for Profit Course. Listen and learn all about side hustles and let us know what you think. Episode Summary She originally wanted to go into criminal law. The original plan was to get a political science degree That should set her up to become a lawyer Once she decided being a lawyer wasn’t in the cards she swapped majors She’d end up graduating with a business degree Being born and raised in New York she lived there with her father while she hunted for a job She’d eventually find work with the U.S. government in California Mrs. Miller’s Background Her salary would quickly climb from $35k to $70K and eventually up past $100k The problem was her lifestyle inflated alongside her paycheck She slowly increased her savings rate from 3% to 10% Lacking financial literacy, she didn’t consider what investing could do for not only her future but start a shift in generational wealth Mrs. Miller Discovers FI At age 32 she came across an article that explained this idea of financial independence She took a look at her life and spending and realized she had a lot of financial potential She admitted to struggle to even store all her clothes and shoes Throughout her working career, she’d only been saving 10% of her income After the discovery of financial independence, she would ramp that up to 50% Mrs. Miller Spreading FIRE (+ Blogging for Profit) Once she experienced such a shift in mindset, she wanted to spread it In 2016 she bought the domain name for millersonfire.com Unfortunately, it didn’t go anywhere Running a website proved to be overwhelming Then in 2019, she took a course on Blogging for Profit From there she found the tools and motivation to get back to her passion project Mrs. Miller has seen a big turnaround and shares that for her readers She also does a great job of being extremely transparent with her numbers The Millers sit at a net worth of about $500k Their goal is $1.1M and hope to hit that by age 44 Key Takeaways Success can hurt: Mrs. Miller was crushing her professional life but felt undeserving and guilty when she knew many people even in her own family, who were struggling. Don’t listen to standards: Saving 10% can feel like the finish line, push yourself to save as much as you can, not hit a minimum number. It’s ok to get help: Mrs. Miller tried blogging back in 2016 and hit a wall before getting help from the Blogging For Profit Course. Call to Action Reevaluate a project you started that fizzled out due to overcomplication Side Hustle Courses [Limited Time] Blogging for Profit Course (receive bonus ebook on signup) Etsy Printables Course (receive bonus ebook on signup) Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Learn more about the Millers Via their blog at Millers On Fire Read her Blogging for Profit Course Review Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear from the side hustle king Nick Loper from Side Hustle Nation. Nick got an eye-opening opportunity in college and knew he had to be his own boss. He would eventually work three years in the corporate world. During that time he was building his side hustle. It was quickly covering his expenses and he never looked back. Listen and learn all about side hustles and let us know what you think. Episode Summary He started paying attention to money when he started realizing how expensive things were Things such as renting a tux for prom His parents didn’t let on that they had the money that they didn’t It wasn’t that they were rich but they did well His first memorable job was through a program called College Works They pitch entrepreneurship, sales, and customer service You don’t know what the job is until the pitch is over It turned out to be house painting They gave him an area of responsibility and taught him several skills He was in charge of hiring, firing and solving customer issues They warned Nick that he may never be able to work for someone after this experience Nick mentioned how important this experience was to applying his education He would go on to work for three years in corporate America Nick’s 1st Side Hustle Nick built his first side hustle at 22 It was a comparison shopping tools for footwear Every day he’d come home and work on the side hustle from 7-10pm At his normal job Nick was making ~$50k per year Before long the shoe site began earning enough to cover his expenses At this point, Nick was ready to take the side hustle full time What really flipped the switch for Nick was a quote from a conference It was “Work on your business, not in your business” Nick took this to focus on growing the business and less of the day to day grunt work That lead to the next side hustle which was a yelp type site for finding a virtual assistant Choosing Your Side Hustle Nick recommends finding two areas you’re in the top 50% in Then find a way that those two things intersect He also suggests trying out things to experiment You’ll often find your true golden idea once you get started on a project If you begin to dread the work, it may be time to stop working on that side hustle Tiers of Side hustles Nick says side hustle fall into three categories: Service, Product, Audience For Services, Nick really recommends branding fragmented services He gives the example of building a maid service that has great customer service and ease of booking For Product he recommends a “buy low, sell high” model like print on demand shirts Then for an audience, you can sell clicks to ads or affiliate links Also once the audience gets large enough you can sell something like an ebook or course Key Takeaways Expertise not required: Nick’s first side hustle was comparing shoes and Nick knew very little about shoes Be better, not necessarily different: It’s more important to provide a great experience than something that’s never been done Think in scale: When building a side hustle focus your energy on how it will scale. Remember work on the business not for the business Call to Action Go check out Nick’s giant list of Side Hustles and find a few today Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Learn more about Nick Via his blog at Side Hustle Nation Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear the powerful story from Deanna who writes at Recovering Women Wealth. Deanna would bounce around the world while sprinkling in college which she graduated from at age 28. By that time she had already been married and divorced but found her passion in teaching. Unfortunately, she then became addicted to drugs and alcohol and found her self six figures in debt. Thankfully at age 36 she got sober and now at 46 is debt free and on solid financial ground. Listen to one of the more powerful episodes we’ve ever had and let us know what you think. Episode Summary Her parents were good with money and she was rebellious She knew money was necessary to be able to get out on her own Deanna did some learn some money lessons but they didn’t sink in until much later She admits that they wanted for nothing and were middle class Deanna’s parents also saved up for her college Her dad was a successful salesman and her mom stayed at home She would end up bouncing around while sporadically going to college Deanna would end up in Europe, Colorado, and Ohio At 25 she was married and 27 she was divorced Deanna would also have to file for bankruptcy because so much debt was in her name At 28 she would finish her undergraduate degree and find her passion in teaching While it took her 10 years to get her undergrad, she got her graduate in just one year To pay for her lifestyle during all this she would rely on being a waitress She started out on a promising career in education as a mathematics teacher Then someone from her past came back to her life and got her hooked back on drugs She stopped teaching and got offered a job at a country club she used to work at Unfortunately, it was a job surrounded by alcohol Deanna would continue to spiral and found herself six figures in debt The Turning Point She recalls seeing three paths including insanity, death, and a glimmer of hope At 36 she realized she was done and quit cold turkey She was able to do this without entering a treatment facility Instead, she just utilized anonymous groups Her money journey started to turn around too A church friend introduced her to the Dave Ramsey techniques Now four years she was making a lot of progress but still had struggles She would end up losing her house due to foreclosure Now with little debt remaining, she was extremely motivated At age 43 she made the decision to move in with her parents to accelerate things She became debt-free in December 2017 Today she works in the insurance industry and loves her job She started that career-making $40k and is now up to $70k Deanna is actually looking to take a year and volunteer at an orphanage in Uganda We can’t wait to see where life takes her and her powerful story Key Takeaways Financial freedom > Retiring Early: Deanna is 46 and not near the end of her FI journey but she feels so free without the burden of debt Use these powers for good: I love how this community takes there freedom and uses it help others the way Deanna does It doesn’t have to be a sprint: Deanna has made huge strides but many would not feel comfortable taking a year off but that’s what she wants to do so she can volunteer at an orphanage in Africa… and that’s pretty awesome! Call to Action If you know someone facing addiction, send them Deanna’s story. Even if you don’t, we all have bad habits. Face one unhealthy habit this month and eliminate it! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Connect with Deanna Via her blog at Recovering Women Wealth Check out our Sponsors Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it’s free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset. Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear about the Financial Freedom 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, 2020 in St. Louis. Listen as we uncover why we are so excited about a conference that you surely won’t want to miss. Episode Summary We start off by getting PT Money’s background who started as a CPA He would then go on to create FinCon (if you’ve never been…just GO) Then we move to Grant Sabatier He went from $2.26 over $1M by the time he was 30 He writes over at Millennial Money Grant also authored the book Financial Freedom Then PT gives us an overview of how FinCon got started in 2011 Grant then talks about this need for The Financial Freedom Summit He first noticed this need while on the road across America talking about financial freedom He and Cody then set out to create a game plan and road map It’s just an honest attempt at being stewards of the community The big change conversations will happen everywhere It may be in the hall, between sessions, or in the lobby in the middle of the night The big goal is to track $1B in net-worth increase in 10 years No one will be here trying to make a commission off of you Just people answering your questions There’s also a rockstar list of speakers You can also make the conference your own with separate tracks Tracks like debt payoff, parenting, real estate, or entrepreneurs In the end, we just hope to see you all in St. Louis May 1st – 3rd Key Takeaways Everyone is welcome with money: This isn’t just for a small sect of people, if you want to grow your relationship with money, you’re welcome Finance is more than early retirement: Debt payoff, financial freedom, meaning to money, there are so many There are tracks for everyone: Budgeters, entrepreneurs, real estate, small business, or gig economy… there are a lot of tracks Call to Action Go and grab and get your tickets so you can join us for this awesome weekend. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Learn more about the Financial Freedom Summit Buy tickets and learn more about the conference at TheFiShow.com/summit Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear how Nate created a site to help people navigate student debt called LendEDU. You’ll hear how this website was born during college and now makes over $1M per year. Joining Nate is one of his employees named Mike. We cover their specific site, the industry, and tips for students today. Listen and read below to hear this awesome business transformation. Episode Summary Colin’s upbringing led him to be frugal In high school, Nate had some jobs He didn’t really care about finance until college His freshman year he took on a good bit of debt in 2012 Mike still has student loans He didn’t take it seriously until graduation Nate also worked during college He started paying off his debts immediately He graduated with $60 debt $45k came after 2 years then he changed it up He started mixing in community college Nate and Mike met in college Nate starts LendEDU and brings on Mike By the time they graduated in 2016, it became a full-time job They both highlight how little finance information is available to high school and college students They also realize others cover their material But they try to present it in ways more consumable by younger people Mixing in video and shortening length We dive into some tips for incoming freshman Question really why you’re going to college Do you already know your profession? Is trade school a better option? Then exhaust every grant and scholarship Students should also look at what their total debt bill with be, not just year one Nate saved $10k by mixing in community College while at a 4yr university Then we jump into the business side of the website They started off making $200 per month from advertisements in 2014 By the end of 2015, they were making $10k per month By the end of 2016, they reached $50k per month The team has scaled to 15 people Today LendEDU makes over $1M per year working with 120 advertisers Their reviews are all unpaid and therefore objective Separation between the income and the rankings of products is important to them Then we talk about unique new ways to avoid student debt One is payback programs where you commit a percentage of your future salary The other is where you don’t need a co-signer for your loans Under this model, it is based more on your degree choice and time left ’til graduation Key Takeaways Don’t wait for success: It was awesome to see how Nate didn’t put this business off until he graduated Hire who you trust: The team has grown to 15 and 10 of those were college classmates. Trust is often more important than qualification White Space Can Be a Style: Plenty of companies were covering these topics but none in a way that resonated with 20-year-olds Call to Action Take a look at your student loans and see if there is a refinancing option or anything to make those payments fly by. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Connect with the LendEDU Crew Via their website LendEDU.com Check out our Sponsors Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it’s free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset. Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, you’ll hear how to get to financial independence via Blackjack (wait, what?). Yep, that’s right. Cody and Justin are joined by Colin Jones from Blackjack Apprenticeship. Colin got an education in mathematics and started out as a teacher. A buddy introduced him to card counting and changed his financial path forever. He turned a couple thousand dollars he and his wife had saved and tried his hand at the card tables. That small amount of seed money would lead to millions in earnings, a team of prolific card counters, a documentary and his website where he looks to train the next great card counters. Listen and read below to hear this incredible story. Episode Summary Colin’s upbringing led him to be frugal He really just wanted to be in a band and wasn’t interested in college His parents urged him to go He decided he’d rather go to school than go out on his own Colin ended up studying mathematics which was a great foundation to card counting When he was 22 a friend gave him a book about card counting to win at blackjack Colin then talks about his practice schedule went After his friend started ramping up his earnings to $80 an hour, Colin decided to give it a real try He took $2k of the $6k he and his wife had saved to seed his efforts For the first few months, he wasn’t really making much His friend got picked up by a national card counting team Then, later on, that same friend transferred all that knowledge to him and that really upped his game After a bit, they realized they could make $200+ per hour if they had $100k in money to play with For his career-high, he earned $434 dollars per hour It took them 6 months of 30 hour weeks to get to six figure earnings After a couple years they had formed a team that was making $500k per year Colin opens up about how his profession was viewed by his family which were missionaries Then Colin talks about the legality of card counting at a casino Spoiler alert: it’s perfectly legal Colin also gives us a brief overview of how card counting works One interesting thing is Colin has never put money into the stock market He prefers to invest in real estate and grow his online business His online business is Blackjack Apprenticeship The site has online forums, software, and training videos to help you learn card counting yourself On top of that, he does three or four live events where he helps polish fellow card counters’ skills Colin signs off by challenging everyone to question why they want to be financially independent Key Takeaways Money can be made everywhere: This is just another example of the limitless ways you can earn money in today’s world. Easy money is hard: Colin can repeatedly walk into a casino and earn money but it took countless hours of hard work and practice. Tombstones: We absolutely loved his statement about the goal isn’t to have financially independent on your tombstone. Life is bigger than that. Call to Action Write out five things you envision you’ll do in retirement and then elaborate on why you actually want to do those things Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Connect with Colin: Via his website Blackjack Apprenticeship Also, check out his book 21st Century Cardcounter Documentary Snippet   Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, Cody and Justin are joined by Ben Le Fort. Ben is Canadian and has an awesome back story. His parents were financially unstable even to the point of needing Ben to help with the mortgage as a teenager and bankruptcy. Ben would go on to turn things around and is now on the financial fast track. He and his wife now own two properties and are saving aggressively towards retirement. Fun note, one of those properties is actually the home that his parents now live in. Listen and read below to hear his amazing journey. Episode Summary Ben grew up upper-middle class but then 2008 happened Both of his parents were realtors and the recession crushed them leaving them bankrupt His parents had no savings and the housing market crashed Looking back he saw some flags that they hadn’t been saving One of those flags was being asked to help pay the mortgage as a teenager The problems his parents went through caused him to choose economics as a major Ben would end up graduating with about $30k in student debt This was a rough go because he was having to use student lines of credit His parents’ income made him ineligible for financial aid or government student loans in Canada Ben would go on to miss some payments which took a toll on his credit Upon graduation, he couldn’t find a good job because of the recession (2010) This drove him to going back and getting his masters degree Ben got roommates in a run-down apartment for $350 a month He tried to continue living the college lifestyle so he could pay off his debt Ben became debt-free in 2015 Then Ben talks to us about meeting his wife She was very risk-averse and investing scared her After tackling stocks they moved on to real estate Ben now has two properties and has done very well on both Fun note, his parents actually rent a property from him Ben’s financial world is now off the charts and he’s looking to help other That’s what started his venture into blogging online via Medium That writing has now turned into a legitimate side hustle We then tackle Canadian investing vs American investing Key Takeaways Be prepared for the unthinkable: His parents were so used to their income and the stability of the housing market. When it crashed, they certainly weren’t prepared. Your start doesn’t define you: The thing that really jumps out in this episode is that his parents’ bankruptcy didn’t mean Ben couldn’t be successful. It actually benefited him through the motivation it gave him. Currency Matters: There was a really tangible discussion where Ben called out the tactics of someone in Canada investing and how it differs from the United States. Call to Action Whether it is a parent, cousin, or just a friend. Find a loved one who could use a talk about finance and open up and talk to them. Keep it simple and make them feel comfortable if you can. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Connect with Ben: Via his publication on Medium called Making of a Millionaire Via his writing at Wealthtender   Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog) Check out our Sponsors Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it’s free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.

In today’s episode, Cody and Justin are joined by Taylor Offer from FEAT Socks. This 26-year-old has been making millions since he was 22 from selling socks. Yes, you heard us right…Socks. But FEAT Socks aren’t your average socks and Taylor isn’t your average entrepreneur. Taylor gave up a prestigious investment banking internship to follow his dreams and create a business. There was failure and even an unhealthy amount of success. Today Taylor has streamlined business and his life and ready to show you how. Listen and read below to hear his amazing journey. Episode Summary We welcome Taylor from FEAT Socks This business now makes millions annually From a young age, Taylor was fascinated about price arbitrage — this is where you can buy something and sell it for a big markup Taylor doesn’t remember one moment that made him interested in money He was more focused on value even as a child Going into college he was only focused on a lucrative degree He got a coveted internship in banking Then realized how unhappy everyone in this business was That made him realize that entrepreneurship was going to be his path People were hard on him for dropping his coveted internship His first business venture was a marketplace for college kids It was called Market Loco and got over 500k hits in a month The infrastructure costs were too expensive, so it failed His next venture was making custom print t-shirts for frats / sororities He started door-to-door but did a huge cross-country spree It was really successful at the beginning and seemed too easy Then one of his orders got ruined by the manufacturer on a $7k order Taylor realized custom business was really tough Great quote – “There’s a million ways to get it wrong, and only one way to get it right” He meets his soon-to-be business partner his senior year His partner parker had done $1M+ in custom lacrosse jersey sales They brainstormed and settled on crazy socks as the next idea This would become FEAT Socks They sold $2k worth of socks out of a backpack on campus the first day Over their senior year they sold 20k pairs of socks They were making these by hand with a heat press Eventually they hired out college friends Imagine college kids in an unheated workspace, drinking and making socks They really grew their list through Instagram and Facebook Things really turned when they got their angel investor Overnight they get $250k as seed money and FEAT Socks is legit Then through some connections they get Aly Raisman as an influencer It was during the Olympics and she sells $500k worth of socks and FEAT Socks goes viral Originally, they were going to give away 50% of the company for $50k Instead they raised the $250k at a $1.5M evaluation Then we start talking about how the business got away from them At age 23 they are making millions, move to LA and hire 20 entry-level employees They get a 5k square foot warehouse all decked out Taylor and Parker get named to Forbes 30 under 30 and life seems perfect Then, their logistics company misses Christmas delivery dates for a ton of customers They also spiraled into depression and worked 16 hour days all week Taylor just broke down one day and took a one way to Thailand He saw these poor kids in the streets who were happy That moment made him really realize what was important They also realized they had $75k in overhead — this caused them to let go of more than 75% of their workforce and to automate everything It was cheaper, better quality, and way less stressful FEAT is now very successful with only 1 hour of work per day for the founders With FEAT Socks running on its own, they started a marketing company Taylor actually has like three other businesses going on (serious entrepreneur!) He feels like he’s happy but always finding the balance Oh, and not to mention Taylor was featured in a Justin Beiber video! (Check it out here at 4:34) Key Takeaways 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 Always be ready: Taylor constantly had 6 pair of socks ready to sell. That’s what made FEAT Socks successful 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. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Contact Taylor: Via his business Instagram Via his personal Instagram Connect on LinkedIn Check out his businesses: FEAT Socks My Last Bottle Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s bl

In today’s episode, Cody and Justin are joined by Carl and Mindy Jensen from 1500 Days. This power couple is a staple in the financial independence space. We had a blast recording live at FinCon and can’t wait for you to hear. Discover the origin of the 1500 day blog, the dinosaurs, and why Carl will never be a plumber Listen and read below to get all the wisdom from Carl and Mindy. Episode Summary Carl discovered FIRE after having a bad day at work at age 37 He ended up setting a goal of retiring in 1500 days He met his goal at age 43 Mindy and Carl write over at 1500 days Mindy is also a co-host of the Bigger Pockets Money Podcast They live next to Mr. Money Mustache in Colorado After becoming friends they went in together in a co-working space We start unwrapping Carl and Mindy’s upbringing Carl’s parents weren’t very good with money He also was the first in his family to go to college Carl became a work-a-holic and a money hoarder He would wake up with nightmares about money and getting fired Mindy actually is the one who still works though She loves her job, which has nothing to do with her education Mindy and Carl had their kids before they discovered FIRE They were three and five years old Both kids are still in school With that, Mindy doesn’t miss valuable family time by working We then discuss how the kids perceive them as retired parents Mindy recalls growing up spending all Saturday going to garage sales She said her parents had money but didn’t let the kids know Carl recalls picking individual stocks when he first started working He doesn’t recommend this approach now but got lucky with it Mindy didn’t utilize the stock market until she got married But she did start investing in real estate right away Her first place was a $50k condo She sold it a little later for $75k We go back to hearing how Carl started his blog 1500 days It was based on the days left he had to work after discovering FIRE The blog was a way to keep him accountable Currently, they invest in real estate including a Maine trailer park They also do index funds, solo 401ks, and a syndicate deal They still do live in flips and are about to start a new one We then discuss the things they do for fun Carl’s favorite thing about retirement is the uncertainty The next big project they have is starting a brewery Mindy discusses not moving around even with no job holding them down Then we dial into the final three questions Trust us you won’t want to miss these Hint… Carl gets sprayed with feces Key Takeaways You may not change: Carl was addicted to working and staying busy. Just because he doesn’t have to work, doesn’t mean it changes that natural instinct to look for the next project. You may work for fun: Most people get nervous about retiring early out of fear. In reality, most people still end up making money in retirement. Just look at Mindy who’s killing it at Bigger Pockets Have fun people: Our favorite thing about Carl and Mindy is just how much fun they have with life. Don’t stress yourself out. Enjoy the ride. Call to Action The call to action this week is in honor of our guests… DRINK A BEER! Non-Alcoholic is just fine 🙂 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Contact Carl and Mindy: Via their 1500 Days Listen to Mindy at Bigger Pockets Money Follow them on Twitter In our Facebook group! Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog) Check out our Sponsors Skillshare is an online learning platform with 30,000+ classes in design, business, and more. Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access. There are no commitments, it’s free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.

In today’s episode, Cody and Justin are joined by Alex Fasulo who is the queen of Fiverr. This 26 year old makes insane money as a copywriter all online. Alex came from a family of entrepreneurs but sought a job in politics or law. After graduation, she found herself in a job she hated and quit soon after. Alex turned to a little site called Fiverr to start trying to earn money online. Fast forward a while and she’d become a Fiverr pro who travels the world and makes over $350k per year risk-free. Listen and read below to hear how she did this and how you can too. Episode Summary She really started paying attention to money after moving to NYC and being out of a job just a few weeks later The job didn’t turn out to be at all what she was expecting So she quit She comes from an entrepreneur family Her mom has done hand-painted clothes Her dad has made board games She went to school for political science and aspired to be a lawyer or politician In the house, they were smart with money and savers However, there wasn’t conversations on investing or anything more complicated Before she quit her job she had been on a site that was still pretty small called Fiverr After a few months, she started having some traction with it Alex recalls the first day she ever made $100 in one day and felt like this could work Then we start discussing how she grew her rates and found her value After a year of taking things really seriously, she was earning around $32k Alex talks about how important the review is during this growth stage She said if you’re early on, it’s best to just create a new account if hit with a bad review Now we unravel the origin of Fiverr Pro and how Alex’s earnings exploded Alex was invited to a photoshoot for Fiverr and then told she was invited to this new program The minimum rates would be four times what she was currently selling Keep in mind that there’s no pro membership or risk to Alex Eventually, she was making over $300k per year and money was piling up We then discuss what Alex plans to do with all that money Then we discuss the drawbacks like all the sitting, bad backs, and carpel tunnel While the business is crazy successful for Alex, it isn’t really possible to scale further Currently, Fiverr doesn’t have a team version but it may be in the future Alex isn’t ready to leave Fiverr anytime soon because they bring her so many clients Even though they take 20% of the profits, she doesn’t believe she could find the number of gigs We then talk about some of her biggest or craziest deals including the royal family She’s also starting other side hustles like converting horse trailers into mobile bars and ebooks Key Takeaways Brace yourself for change: It was awesome to see how well Alex did with the change that happened when she found herself in a job she hated. We have to be ready for what life hands us and make the most of it. Income can be exponential: Much like investments, income can also grow exponentially as you build a reputation Online doesn’t mean easy: We often romanticize working online but it’s obvious Alex has put in countless hours to build her dream. Don’t expect easy money to just fall in the sky Call to Action Go browse Fiverr and look for inspiration to start selling your own gig! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Contact Alex: Via her blog and grab her book Catch her on Facebook Follow her Instagram In our Facebook group! Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, Cody and Justin are joined by Chad Methner from Little Brother Life Coach. Chad really wants to encourage people how to reach FI even if they’re nowhere near a six-figure salary. We discuss his battles during the recession, finding himself in a job he hated, and how he came through it all. You’ll catch Chad now helping others through coaching and setting up local meetups. It’s a unique angle so go listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary Chad first discovered financial importance from a Dave Ramsey book he stumbled across The parts about debt pay off really hit Chad He’s still $20k in debt from college After high school, he just did some manual labor while he tried to figure out what to do for college He got half off tuition thanks to his dad’s job at Ohio State After college, he couldn’t land a job because it was 2009 and the recession was in full swing He didn’t rack up any debt from college until he got his masters in 2015 While the job he had did some tuition reimbursement, it still cost him $25k in debt That along with a car and some other loans left him with over $40k worth of debt He continues at this job making under $11 per hour After he got his masters he went to try and get a promotion Unfortunately, they didn’t give him any options After six years there he had maxed out at $13.25 an hour and decided to leave He landed a new job and almost doubled his income to just under $50k and in a role where he was more comfortable We asked why he staid at that first job so long unhappy and underpaid For Chad, it was just comfortable and easy but he finally had enough The discussion swapped to how he saves money on this lower-income The biggest thing for him was cooking at home It turned into a full-blown hobby instead of just a money saver He plans to be out of debt in 3-5 years His big goal is to retire before age 55 and hit that $1M mark Chad is also trying to build up side hustles including coaching and writing a book Then we discuss the “poverty-tax” and the importance of an emergency fund Key Takeaways Everyone can benefit from this journey: Chad began this journey on as little as $10.75 per hour and it’s changed his life. Your velocity may be different but the impact is still extremely meaningful. We can always help: Although Chad is still working through his debt payoff, he still has a lot to teach other low-income individuals chasing FI. Don’t settle for misery: Chad obviously stayed at his first job too long. After 6 years he was still underpaid and forced into positions he hated. Regardless of pay, working in a job you hate is never worth it. Call to Action Start planning some frugal activities and trips. Maybe even take a look at activities you currently do and find a frugal alternative. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Contact Chad: Via his blog Little Brother Life Coach Catch him on Twitter In our Facebook group! Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

In today’s episode, Cody and Justin are joined by the incredible duo of Kristy and Bryce from Millennial Revolution. Their story is so inspiring. They start at the most traditional lifestyle route of a professional career and seeking homeownership. Then one day they realize the housing costs are simply out of control and they’d rather retire instead. Three years later they quit their jobs and have been traveling year-round since then. They’re keeping busy though with projects like their new book Quit Like a Millionaire. This will certainly be one of the most entertaining episodes we’ve had to date so go listen now. Listen and follow along with the summary below and make sure to check out the links at the bottom of the page. Episode Summary Bryce wasn’t focused on saving money in college…beer took priority When they graduated they were just solely focused on saving for a home They lived in a modest apartment while chasing a home The house prices kept outpacing the housing Before they could find a home, they realized they’d saved $500k Then Bryce came up with the idea to ditch the house idea and retire instead Kristy saw the value in this after seeing a coworker collapse from stress They hit a million at the age of 31 We then dig into how they actually got the $500k in the first place Kristy credits the scarcity mindset she got from being raised in poverty in China They moved to a cheaper apartment, used public transportation, and reigned in their eating out splurges They weren’t naturally frugal at the start with Bryce dropping hundreds on booze and Kristy collecting high-end purses. Kristy even got into unboxing videos for these purses Bryce then starts discussing the differences between how he and Kristy see things Kristy is much better at being frugal but was much less comfortable getting started with investing They really fill in each other’s gaps to make the perfect financial independence duo Kristy said what helped get comfortable with investing was understanding how much she’d lose to inflation in savings accounts Then Bryce starts covering their investment strategy and how they navigated the 2008 recession That strategy is a big cornerstone of their book which seeks to show how to handle every rough situation you may encounter Kristy covers how they started out with salaries in the $60k range but would get several raises along the way Their savings rates began around 50% and would get up to 72% before retiring Kristy then covers how to use a number centered approach to choosing your major in college Bryce and Kristy then start covering all the work they’re doing now in retirement with the book and blog They credit being in a position where the focus didn’t need to be money as their key to side hustle success Kristy then starts telling the backstory to how her video about millennials and money went viral At this point, we shift gears to understanding how they continue to travel the world year-round for under $40k per year They prefer Air BnB over a hotel for the kitchen and laundry access Then they discuss how they build a schedule when constantly traveling and some of the bumps to expect along the way Currently, they’re staying in a location a little over a month but plan to start rotating between locations quarterly Those three-month stints will allow them to build real lasting relationships Key Takeaways Create your own trend: It was amazing to see them realize that they didn’t just have to follow the path everyone else was following. Why buy a house if that house was going to anchor you to a job for decades. Handling the worst: Too often we only tell success stories and don’t give enough focus on preparing for non-ideal scenarios. Kristy and Bryce nail this topic. Millennials are misunderstood: Millennials aren’t pampered or lazy. They just consistently choose to follow lifestyles that their 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. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android   Contact Kristy and Bryce: Via their blog Millennial Revolution Catch their on Twitter Join them on Facebook Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)