Fire Drill

Julie Berninger

Join host Julie Berninger on FIRE Drill podcast where she interviews guests with epic side hustles, real estate investors, early retirees, online business owners, and other inspiring people rocking financial independence. All things Early Retirement are broken down into simple, actionable steps for the average person. Step up your money game and renew your money philosophy with Fire Drill podcast.

All Episodes

Email me at j@firedrillpodcast.com

Mar 2020

10 min 4 sec

My name is Rachel Teodoro and I am a mom of three kids living in the greater Seattle area with my husband Mike, who is a mechanical engineer. We met while attending Purdue University in West Lafayette, Indiana. I am a lover of all things thrifty and can be found trolling for garage sales nearly every weekend. I like to craft, create and decorate my home with my thrifty finds. I am always happy to share my tips and tricks for living well on less. From Rachel's website - https://www.rachelteodoro.com/ Popular Posts of Rachel's: No Spend Challenge overview Our No Spend Challenge rules No Spend Challenge blog posts: The Real Cost of the Impulse Buy Saving money on Utilities Surprising Library Benefits that will save you Money How to Save Money with a Pantry Challenge 20 Things Frugal People Do Every Day Rachel on Social: Twitter - https://twitter.com/msrachelteodoro Facebook -https://www.facebook.com/msrachelteodoro/ Instagram: https://www.instagram.com/msrachelteodoro/

Mar 2020

45 min 34 sec

We are Ali and Alison Walker, and we used to call Seattle, Washington our home. We met in 2004, married in 2006, and retired in 2018. After reaching Financial Independence we wanted a complete and total change from our career-focused lives. We decided that meant leaving our Seattle life behind and making travel our new lifestyle. By November of 2018 we had sold our home and car, let go of 99% of our belongings, and left Seattle to travel the world indefinitely. From their blog, All Options Considered https://alloptionsconsidered.com

Mar 2020

40 min 35 sec

An important discussion about the Baby Boomer generation and healthcare in the US with Medicare insurance expert Danielle Kunkle. Boomer Benefits

Feb 2020

38 min 25 sec

Nancy's freebie on the decision making process Her YouTube channel: Dr Nancy Li  

Feb 2020

31 min 39 sec

Enjoy this special live podcast episode with early retiree Dave Homyak. You can join the Facebook group here.

Jan 2020

45 min 1 sec

Today's episode is with Sasha of Your Frugal Friend blog and Etsy shop. Sasha is a thirty-something mother of two and accountant who makes incredible budgeting spreadsheets and sells them on Etsy. She has paid off over $60,000 of debt to date and is on the path to financial independence in Austin, Texas. Learn more about Sasha: Sasha's Blog Etsy Shop YouTube Channel Other links: Etsy Printables Course Podcast Facebook group for Live Episodes

Jan 2020

53 min 57 sec

Today's episode is sponsored by the EconoMe Conference which is a conference for the financial independence community on March 7th, 2020 in Cincinnati, Ohio. You can win a free ticket to the event by commenting on this thread in our Facebook group. Fire Drill listeners receive 10% off tickets for this event using the code FIREDRILL. Learn more here: https://economeconference.com    

Jan 2020

36 min 18 sec

Links from today's episode: Doug's Personal Training Website: Monumental Strength The top 5 downloaded episodes of 2019: A Purple Life Episode Mortgage Payoff Debate Grant Sabatier of Millennial Money JT Episode Tanja Hester

Dec 2019

36 min 2 sec

Have you ever dreamt of pursuing a digital nomad lifestyle? Eric started his digital nomad journey by joining a work travel program called Remote Year after saving up enough of a cash buffer. His plan is to continue working remotely after Remote Year is over and living a full on digital nomad lifestyle. You'll love that story. We also chat about... Eric's background What Remote Year is like How he's planning on making an income A day in the life of a digital nomad Enjoy this chat with Eric, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Eric's blog: Nomad on FIRE Eric on Twitter and Instagram Reddit thread /buildapc New Egg ChooseFI Facebook Group Remote Year Episode: The DIY approach to building skills, becoming a millionaire, and finding your passion | Grant Sabatier of Millennial Money NomadList Mr Free at 33 The Earth Awaits NomadSummit 2020 No More Harvard Debt Episode: A New Travel Hack: Mystery Shopping | Financial Roadways Key takeaways from our chat with Eric 1 - Remote Year is a good way to transition into the digital nomad lifestyle Remote Year is a work travel program that offers accommodation and co-working passes to a group of people who live a digital nomad lifestyle together. Although a little on the pricier side, Eric argues this is a great way to try the digital nomad life along with a community. He gets to meet a lot of interesting people from diverse backgrounds and several different skills, all while travelling and working on his side hustles. 2 - Geoarbitrage as a strategy Eric is using geoarbitrage to make his money last longer - by earning in a strong currency and spending in a weaker currency in cheaper locations. Him and his girlfriend get to save more money and travel more. He also uses travel rewards, and recently started a blog to document his journey and make some extra money. 3 - How Eric saved up $30k to travel abroad Eric was working a high paying job but lacked work life balance. He was always a decent saver and made sure to max out his tax advantaged accounts and avoid lifestyle inflation. He treated his saving as a game, and made it a challenge at the end of every month to find ways to cut back and save more. The most important: finding what your why is. That's his plan for the year ahead. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Dec 2019

40 min 33 sec

Mystery shopping might be the new travel rewards hack. Johnny uses travel rewards and mystery shopping to go on holiday for free. Him and his wife are using rental properties to fast track their path to FI, with Johnny's goal is to be able to take summers off by the age of 35. You'll love that story. We also chat about... How to make the most of travel rewards Where to get travel reward information The value of mystery shopping Enjoy this chat with Johnny, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Johnny's blog: Financial Roadways Johnny on Twitter Jobspotter app Frequent Travel University Episode: Rethink the Rat Race Key takeaways from our chat with Johnny 1 - Mystery shopping is just as valuable Mystery shopping involves using a service for free and filling in a survey/review in return. This is usually done with restaurants, holidays and hotels. Johnny provides quality reports and literally gets paid to go on holiday or to eat a delicious meal at a restaurant. A new travel hacking technique? 2 - Travel rewards and minimum spending The problem with many travel reward credit cards is that the minimum spend is pretty high, and that can put off some people, especially since you can't pay bills with a credit card. Johnny and his family use a third party software that allows you to pay bills from your credit card, and if you don't meet the minimum spend that month, you can prepay the bills or use a gift card. This is what allows him, his family and his in-laws to go on holiday to Jamaica at a resort, all for free. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Dec 2019

35 min 27 sec

One of the best ways to increase your income is to do a career transition Caitlyn changed from sales in the beer industry to working as a software engineer. After an intense 6 months completing a coding bootcamp, she was able to find a higher paying job as a software engineer with a better work life balance and pretty much everything she was looking for in a job. You'll love that story. We also chat about... Caitlyn's early career How she completed the coding bootcamp How she got her job as a software engineer Managing coding interviews How not to screw up your career transition Enjoy this chat with Caitlyn, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Caitlyn on Twitter Hackerank Key takeaways from our chat with Caitlyn 1 - The first step to a career switch Caitlyn was working in the beer industry in sales, but wanted to work in tech. Her first step was researching bootcamps online and picking a bootcamp with good reviews and that wasn't too expensive. She completed her bootcamp online since she didn't have the patience or time to go back to school, and didn't get into debt to pay for the course. 2 - How she found a job immediately after finishing the bootcamp Her bootcamp was 6 months long. She started networking for jobs at the 4 month mark, and says this is what allowed her to find a job at the perfect timing. During her job search she researched different companies, did many interviews and used the skills she acquired working in sales to set her apart from other candidates. The personal connection she got from networking meant she was more likely to be considered for a job position. 3 - Are bootcamps worth it? Caitlyn believes bootcamps are a great option. They cost a fraction of what a college degree costs, allow you to work remotely and provide you with many more opportunities. Caitlyn used Twitter to connect with other tech people and commit herself to the challenge of learning how to code - she made a lot of friends and it helped her transition career. It's important to network as well as complete the bootcamp - if that's what you do, then a coding bootcamp is very much worth it. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Nov 2019

21 min 52 sec

Is property part of your portfolio in order to reach FI? Maria and her husband own 9 rental properties, and have a net worth of over a million. They're aiming for a net worth of $3 million in order to reach FI, and have some pretty nifty real estate hacks to share with us. You'll love that story. We also chat about... Maria's personal finance journey Canada's maternity leave Dealing with tenants Future FI goals Enjoy this chat with Maria, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Handful of Thoughts Maria on Instagram FI after 50 Camp Mustache Key takeaways from our chat with Maria 1 - Canada's maternity leave is pretty sweet In Canada, maternity leave can be 12 months or 18 months. Maria and her husband used up their maternity and were able to split it between the two quite evenly. This allows Maria as well as her husband to go back to work fully rested and with the right energy. Julie mentions she's able to get 8 month maternity leave. 2 - How they're investing in real estate to reach FI Maria works as a teacher, and along with her husband they own 9 rental properties with a total net worth of $1.3 million. The first $1 million took them 8 years, and they're planning on the next one to take 5 years. They already have a pretty flexible lifestyle and plan in the future to homeschool their kids. 3 - A few tenant hacks As a landlady, Maria has had to deal with a few difficult cases - she had to take one tenant to court because of the state in which they left the flat when they moved out. But she was still able to get her money back thanks to one good hack: asking for an emergency contact before the tenant moves in. The mother of the tenant was then able to represent the tenant in court. Other hacks include trusting your gut, and sending a birthday card on the tenant's birthday. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Nov 2019

31 min 59 sec

Do you include your house and car in your overall net worth? Rachel and her family are aiming for a FIRE number of $2 million. Her and her husband focus on a high savings rate, prioritising their budget and building a side income to speed up their journey. You'll love that story. We also chat about... Budgeting categories How they manage big expenses Their total net worth How Rachel is participating in GCV's blogging and Etsy course Enjoy this chat with Rachel, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Money Hacking Mama Rachel on Instagram Gold City Ventures Article: The Shockingly Simple Math to Early Retirement Net Worthify Calculator Redfin YNAB Key takeaways from our chat with Rachel 1 - How Rachel keeps a high savings rate Rachel uses YNAB to do all her budgeting, keep track of her net worth and manage all her expenses. She looks at the big picture of her yearly expenses and compares it to her income. From there she can easily prioritise her values, and figure out what she needs to cut down to keep a high savings rate. This means she's more careful when buying gifts at Christmas, for example. 2 - Why her house and car are not part of her net worth Her household's net worth is currently $650k, and her and her husband are aiming for $2 million. This does not include their house and car since she says that those two, although assets, won't pay them any money. Having said this, both assets will be paid off by the time they're retired. 3 - Her experience with blogging and Etsy Rachel joined Gold City Ventures because she always wanted to manage a blog and make some side income online. She knew she needed someone to help her with the technical side, and the course has helped her through every milestone. The community is very powerful and this keeps her posting regularly. She's also started with Etsy and has completed over 60 sales! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Nov 2019

50 min 59 sec

Do you dream of retiring before your 40s? Amon and Christina retired at age 39 and moved to Portugal with their two daughters. Thanks to their government jobs, they were able to achieve a very high savings rate of 70% and build a nest egg of 25 times their annual expenses in just 8 years. They've now been retired for 3 months and enjoy their time relaxing and spending more time with their girls. You'll love that story. We also chat about... How they got started on their journey Their FIRE numbers Why they got government jobs Their asset allocation Dealing with health insurance abroad Enjoy this chat with Amon and Christina, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Our Rich Journey Our Rich Journey on Youtube and Instagram Video: Top 5 Companies Always Hiring Key takeaways from our chat with Amon and Christina 1 - The journey starts with the right mindset Christina and Amon explain that the FIRE movement is a unique world where many people outside believe that reaching FI is not possible. But they argue that it is possible if you have the right mindset and keep a positive attitude. Their journey started by working on their mindset, and then they started saving money, investing in real estate and educating themselves about money management. 2 - How they were able to save 70% of their income They attribute their high savings rate to having government jobs that paid for all their living expenses abroad. They worked in Japan and in Spain, and were able to live for 10 years mortgage and rent free. They also saved on insurance and transportation, and would travel for free with credit card hacks. They had the purpose of FI and kept putting that money into the stock market to be able to retire early. The good news: there are a lot of opportunities to work with the federal government and it's not hard to get a job with them overseas. 3 - Their lifestyle in Portugal The couple describe their life as an extended European dream. Their days are extremely flexible and they have a 'semi-structured' life with their girls going to school everyday. They're in Portugal on a retirement visa and have decided to focus on building their children and spending as much as time as they can with them. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Nov 2019

37 min 11 sec

In what way would a medical disability change the way you approach financial independence? Zero has had to deal with brain surgery and has had rheumatoid arthritis for a few years. It affects her work situation, her financial situation and her physical health, so she's had to adapt her path to FI with side hustles, passive income and insurance. You'll love that story. We also chat about... Her medical history Why she's prioritizing her body Her current financial situation How she quit her job to pursue her side hustles Getting married Enjoy this chat with Zero, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Zero's blog: Walking to FIRE Zero on Twitter and Facebook Interview: One American Woman’s Story About Disability and the Path to Financial Independence Key takeaways from our chat with Zero 1 - The importance of prioritizing quality of life The truth is no one knows how long they will be able to work for, and many times we take for granted being healthy. Zero is very aware that she can't just push through and work more hours to reach FI sooner, she needs to prioritize her health now so she can still be healthy in the future. This means she's moving to the suburbs, slowing life down and working from home so she can focus on having a healthy lifestyle. 2 - $100k is a good stability point Zero was very excited to hit the $100k net worth mark, but after $100k she noticed that the numbers increasing did not fulfill her as much. She used to blame lack of money for all her problems, but now she realises that money doesn't solve everything and instead it has to be her that takes control of her journey and situation. 3 - The power of passive income Zero is aiming for $3,000 in passive income per month, and she's at $1,200 at the moment. She sells video courses, e-books and has some affiliate income that gives her a regular salary. This gives her the headspace to focus on active income, on her health and on her personal FI journey. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Oct 2019

42 min 59 sec

Have you ever thought of turning your own community into a 6 figure side hustle? Melissa started a local community Facebook group to help locals find out what's going on in town, recommend businesses to each other and work on initiatives together. This community group now provides her with a full time income and the flexibility to work when and where she wants. You'll love that story. We also chat about... How to monetize a Facebook group What to charge and to whom The emotional side of being a group admin The pros and cons of managing a community How to stay on top of content Enjoy this chat with Melissa, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Grouptize Grouptize Review Grouptize Community Facebook Group Get your BONUS by contacting me here Key takeaways from our chat with Melissa 1 - A Facebook town group is essential for every community Melissa believes every community should have a Facebook group with business recommendations, town information and events. She started her group 6 months before being laid off, and quickly realized she could turn this into a full time income. The group is linked to a website, has a daily e-newsletter and a business directory. The biggest bonus? Everyone in this group is a pre-targeted and interactive audience, a perfect location for businesses to advertise. 2 - How Melissa monetizes her group Melissa started by offering listings for free, if a business is then interested in upgrading their listing, they can do so for an annual fee. She also has traditional web ads and sponsored stories. Her ad customers range from anything local, to people with side gigs, to realtors and anyone looking to help out. A sponsored story pays her $250, and with 20 stories a week, it's easy to see how this can quickly grow into a full time business. 3 - How you can get started too Melissa had little Wordpress experience - she says that if you can navigate Google, you can set up a community Facebook group too. She recommends hiring help to manage the admin, and to have the right processes in place. Not all groups have to be local - pet and mom groups can be very successful too. If there already are Facebook groups in your area, assess them and see if you can add a bit more value. It does take time to build a community, but if you keep adding content and providing value, it can quickly blossom. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Oct 2019

41 min 52 sec

What are 10 things you would want your child to know about money? Chelsea quit her job as a hedge fund manager 2 years ago and decided to pursue entrepreneurship to stay at home with the kids and take care of herself. She's working on building a blogging income and is the organizer behind the Mama Talk Money Summit next week. You'll love that story. We also chat about... Entrepreneurship and work life balance How she's adjusted her spending habits Managing maternity leave The Mama Talk Money Summit Enjoy this chat with Chelsea, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Chelsea's blog: Smart Money Mamas Mama Talk Money Summit Pass Mama Talk Money Summit Schedule Mama Talk Money Summit Quiz Montana Money Adventures Rich and Regular Chelsea on Instagram Key takeaways from our chat with Chelsea 1 - Managing entrepreneurship after corporate America Chelsea left her job 2 weeks before having her second child, so she could stay at home with her family and not feel stressed from work. She started working on her blogging income and other projects, building a financial independence lifestyle that would be sustainable for her and her family. Since then she's realised the importance of finding a balance between mental health and happiness, and that ideally you want to be pursuing FI as well as finding a career you love. 2 - The importance of self-care during maternity leave After having her second baby, Chelsea was not able to completely shut off, since she was just getting started with entrepreneurship. She believes it's important for new mothers to be able to completely turn off and focus on their babies. Self-care is important also because there is a lot of stigma around giving birth, and friends and family can be quick to offer their own opinions on how to raise a kid. For mothers, it's easy to feel that they're doing something wrong, so it's important to find time for themselves. 3 - The Mama Talk Money Summit This online summit will be taking place next week from the 21st to the 24th of October. 40 female speakers will be conducting sessions about all topics on motherhood and money. There will also be big giveaways, coaching, courses and a pajama party on the last day. The summit is free to attend, with an add on of notes, q&a sessions and transcripts when buying the All Access pass. A ton of free financial information on many different topics  - a must attend event! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Oct 2019

43 min 41 sec

Everyone's dream is to earn a healthy passive income every month. Jennifer and her husband earn 6 figures every year in passive income from their real estate business. The interesting part? They follow a slightly different business model and strategy. They also spend most of their time travelling around the world with their 4 year old child. You'll love that story. We also chat about... How Jennifer got started with real estate Her property criteria How to travel with a 4 year old The pros and cons of renting out to disabled tenants Her business helping out other investors Enjoy this chat with Jennifer, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Jennifer's websites: Addicted to ROI and Agents Invest Jennifer on Instagram DHCS  Key takeaways from our chat with Jennifer 1 - Getting started with real estate Jennifer bought her first house at the age of 21 - she dropped out of college to work for a real estate company and immediately fell in love with the real estate world. Her husband worked in construction, and together they started buying houses, bit by bit. They would buy one house, live there for a year and then buy a second house. They kept switching and used the BRRR strategy (Buy, Rehab, Rent, Refinance) to get the majority of their investment back. They've bought properties mostly in Seattle, but in other states as well. 2 - Renting out to disabled tenants What makes Jennifer's real estate strategy different is that she and her husband rent out to disabled tenants. They interact solely with a healthcare provider that helps disabled people find homes and provides them with healthcare assistants. The pros? Jennifer and her husband enjoy 35% more cashflow, no turnover and 100% occupancy at all times. The only cons are that they need to keep re educating new staff and there is usually more wear and tear on the houses. But overall, a creative and sound real estate investing strategy! 3 - How she created her ideal lifestyle Since building a 6 figure passive income stream, Jennifer has found a new passion: helping other people build passive income streams. The real estate investing world can get lonely, and by helping others she's able to make friends, help others and build a network as well. Nowadays, she works purely on her real estate network and organises meetups - the rest of the time she and her family and travelling the world and enjoying their passive income. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Oct 2019

39 min 59 sec

Imagine travelling the world and only paying for the flights. Diana Chen is a full time travel blogger. Thanks to her blog she gets to try out hotels, resorts and adventure packages for free in exchange for a review or social media posts. She also makes money blogging and recently released a course to learn how to pitch to companies. You'll love that story. We also chat about... Diana's journey as a travel blogger Her different travel adventures How she makes money online How to get started as a travel blogger Her future travel plans Enjoy this chat with Diana, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: MVMT Blog Episode Travel On a Budget and Entrepreneurship with MVMT Blog Article: Hacking My Engagement Ring with Moissanite Course: Travel Pitch Masters (50% off using code 'firedrill') MVMT Blog on Facebook and Twitter MVMT Blog Facebook Group Gold City Ventures Blogging for Profit course Key takeaways from our chat with Diana Chen 1 - How Diana makes money with her travel blog Diana makes money in a variety of different ways. With certain companies, she gets offered free trips in exchange for reviews or a feature. With others, she has her own rates and packages she offers in exchange for payment compensation. She also hosts ads on her blog and does affiliate marketing. Usually she pays for her own flights, and then reaches out to hotels that fit her blog and readers interest. From there she finds hotels to host her and enjoys gets free accommodation! 2 - How to make money when starting out Diana got her first free hotel comp 3 months into blogging. She believes that you can make money as a beginning blogger, even when you don't have much of a portfolio. Diana explains that it's more about how you tell your story and how you paint your brand, rather than the numbers. Tell brands your plan for the future and how you plan to be the go-to source for your city or country. Start with writing reviews for hotels and use this as a starting story/portfolio. 3 - The value of blogging courses Both Diana and Julie agree that blogging courses help kickstart blogging growth because of all the new information you learn. Although blogging courses get a bad rep, if you pay for a course, you get results much faster. A blogging course is similar to a course at university - Diana's job is blogging, and she took courses to understand more about affiliate marketing and other money making skills. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Oct 2019

34 min 9 sec

Have you ever considered travel blogging as a full time hustle? Emily and Berty are full time travel bloggers and photographers. They make money blogging, working for clients, selling prints and many other projects that earn them several different income streams, all while travelling and working from home. You'll love their story. We also chat about... How they became travel bloggers Their blogging niche How the make money from their blog Short term and long term financial goals The factor to blogging success Enjoy this chat with Emily of the Mandagies, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: The Mandagies Emily and Berty on Instagram and Facebook Mediavine Keysearch Comedians in Cars Getting Coffee Blogging for Profit - Gold City Ventures Key takeaways from our chat with Emily 1 - How bloggers really make money Emily and Berty have several income streams, but their main one comes from their travel blog. The first thing Emily talks about is how they took baby steps - they didn't make much money in the first 2 years of blogging. Now, they make most of the money from selling ad space on their blog to ad companies like Mediavine. They focus on SEO, social media and user intent to help their articles rank on Google. They now make $6,500 per month just from their blog. 2 - The day to day of a travel blogger Emily and Berty spend half their time travelling, half their time working. When they're travelling, it's very intense and consists of several day hikes, a lot of photography and exploring. They then get home, rest for a few days and curate all the content. At home they work a 9 to 5, but on their own time. They work on their blog and any other projects they have going on with clients. 3 - The secret factor to blogger success Emily believes the secret factor to blogger success is loving what you blog about. The first couple of years the blog won't make any money, so you need to be willing to blog for free at first. This can get frustrating and difficult if you're only doing it for the money. Emily also says it's important to find a niche for you to focus on - and there are many in the travel space! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Sep 2019

38 min 27 sec

Have you ever considered quitting your job to start a business? Emily was working as a journalist, but an 'aha' moment made her realise that she wanted to do more meaningful work, and so she set up a flower company that caters to weddings and private events. She now has 5 employees and her business is growing steadily. You'll love that story. We also chat about... Why Emily left her job as a journalist Why she went into the flower business The process of starting a business Her financial situation when transitioning away from her job Her current business metrics Enjoy this chat with Emily, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Carolina Flowers Emily on Instagram Book: How to Find Fulfilling Work Lynda Library Key takeaways from our chat with Emily 1 - The moment Emily realised she was in the wrong economy Emily was working as a journalist - she was good at writing, reading and networking - but she didn't enjoy sitting at a desk or earning a low salary. She started learning about behavioural economics and as she took mental notes, she understood that this was a market she wanted to be part of. She decided to go into the flower business since she saw that it was a product that worked well, and that could get her away from sexism in the workplace as well as add value to the community. 2 - How Emily kickstarted her flower business Emily's flower business is her way to be part of her community and solve a problem using farm land. She didn't have many resources when she started, so she started a farm on a small land while she was still working as a journalist. Most people did not take her seriously, but she kept working on her business and had enough money to recirculate through the company. She now has 5 employees and sells hundreds of thousands of flowers every year. 3 - How she manages her money and her future goals The positive aspect of working as a journalist is that Emily was used to not making much money. She told herself that she could always wait tables if her business didn't work out. She had $10,000 saved up and inherited another $10,000. With that, she was able to kickstart her business and take it each day at a time. She was responsible with her money, and knew that quitting her job would not mean losing all her savings immediately. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Sep 2019

34 min 19 sec

Are introverts more interested in FI than extroverts? Drew is an introvert on his path to FI, who was able to boost his career, finances and personal relationships by understanding his introversion and optimising his daily schedule. You'll love that story. We also chat about... What introversion really means The turning point of his career Starting his FI journey His current mindset with regards to FI How having a child changed his path to FI Enjoy this chat with Drew, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: FI Introvert Drew on Twitter Book: Quiet: The Power of Introverts in a World That Can't Stop Talking Key takeaways from our chat with Drew 1 - Why introverts have a larger desire for FI Drew notes that most of the big FI bloggers in the community are introverts. He says that the reason for this is because the desire for freedom as an introvert is much greater than for extroverts. Introverts want to be free from office small talk, from sales meetings and from feeling controlled by other people - so the need to quit their job is much more urgent. 2 - How Drew used his introversion to improve his career Growing up as an introvert, Drew wasn't able to understand why he was different from others. People thought he was a terrible co worker and that he was arrogant. At the end of the day he had little energy and disliked his day to day work. After reading 'Quiet' by Susan Cain, he understood that he was an introvert and that he could use this to understand his limits and plan his day in advance. He was able to give more time to himself and have his own schedule - this boosted his career, his confidence and personal relationships. 3 - Mindset as a FI goal Drew and his family have $1 million in investment assets. They just had a son and Drew enjoys his career, so the family isn't planning on retiring early any time soon. They've decided that their FI goal is a mindset, not a number. Once they reach the mindset of spending more time at home and living in a lower cost of living area, then they will consider themselves officially FI. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Sep 2019

45 min 31 sec

James and Emily retired from the rat race at the ages of 27 and 28. Through real estate investing and frugality, they managed to hit their Cashflow FI number in 3 years. Using their Cashflow strategy, they're planning to travel around Europe and continue to manage their properties from abroad. You'll love that story. We also chat about... Their turning point to reach FI Being Cashflow FI Their real estate journey Leaving their jobs and travelling around Europe Enjoy this chat with James and Emily, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Rethink the Rat Race Rethink the Rat Race on Facebook, Twitter and Instagram Redfin Camp Mustache Miss Mazuma Bigger Pockets Camp FI Ms Fiology Gold City Ventures Blogging for Profit course Key takeaways from our chat with James and Emily 1 - Reaching Cashflow FI James and Emily keep their living expenses incredibly low, at less than $15,000 per year. As they reach FI, they're planning on spending even less. Thanks to their real estate properties, they're pretty much already there. The income they get every month more than covers their expenses (making over $72,000 per year) and with that money they're planning on living comfortably without working. 2 - Their real estate strategy They currently own 10 units, having bought their first one in 2017. They buy triplexes and duplexes, and their first one was with a 25% deposit down and a 30 year mortgage. They invested in an excellent area and are now enjoy the 2% rule (where they make nearly 2% of the property every month). They set aside 10% for maintenance and 10% for property management, and so far it's been going pretty smoothly. 3 - What it's like leaving their jobs They're going through all the paperwork to finally leave their jobs and go travel. Their strategy is to first take a leave of absence from work - but with no plan of ever returning! They're moving abroad to Europe, specifically Cyprus and will have the freedom to do whatever they want. Their friends and family are a mix of confused, excited and infatuated - as many of us know, converting people to FI lifestyle isn't so easy ;) Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Sep 2019

37 min 59 sec

What is the best place in the world for early retirees to live in? In today's episode, Julie plays voicemails, reads out tweets and emails from members of the FIRE community on the best places to live as a financially free retiree. We hear about places in the US, South America and everywhere else in the world! We also chat about... The best states and cities to live in the US What's important when considering a new city to live in Places outside of the US that are great to live in Enjoy this community episode, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Savvy History Legislative Lottery in New Mexico Financial Pilgrimage Post: 10 Reasons Why St. Louis is a Great Place to Raise a Family Stop Ironing Shirts Finance Clever The Earth Awaits PitchWire Key takeaways from our Community Episode 1 - Knoxville, Tennessee Christina and Matt give us a detailed explanation as to why Knoxville is such a great place for early retirees. The cost of living is low, there are many activities involving culture, sports and especially the outdoors; Knoxville has over 50 miles of trails and tons of public parks. The city has a big art and music scene, and the Discovery channel have their headquarters based there. The couple enjoy a high level of entertainment and believe they could not reach FI anywhere else. 2 - The state of New Mexico Debbie brings the state of New Mexico to the top of the list for early retirees. She mentions that public education is cheap and the legislative lottery is a big help for university students. In the summer the weather is warm and dry, and in the winter there's skiing and other winter sports. The only negative is that there is a lack of diversity when it comes to jobs, but for an early retiree this shouldn't be an issue. 3 - Places outside of the US Many other places are mentioned in the US as well in the rest of the world. Natalia talks about how amazing the health insurance in Costa Rica is, Finance Clever tells us about Medellin in Colombia and Colleen mentions Panama city. Other places mentioned are Lisbon, Chang Mai, Taiwan and the UK! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Aug 2019

27 min 48 sec

Ever considered teaching English online as a side hustle? Or even as a full time income? Rachel and her husband are full time digital nomads that travel the world and make their money teaching English online. They've been digital nomading for over 7 years and are still going strong. You'll love that story. We also chat about... What it's like to live as a digital nomad Making money while travelling What VIPKid is about Managing a schedule when travelling Success stories from other teachers Long term goals Enjoy this chat with Rachel, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Rachel's course (35% discount: 'fireteachers2019'): Teaching for Freedom Grateful Gypsies VIP Kid Rachel's free eBook Rachel on Facebook, Youtube and Instagram Key takeaways from our chat with Rachel 1 - It's totally possible to make money while travelling Rachel and Sasha moved to China in 2010 after they couldn't find jobs due to the recession. There was (and still is) a high demand for English teachers and they quickly found well paid jobs with comfortable housing and schedules. This was their first step into the direction of working while travelling. They then quit their jobs and went on a 14 month travelling trip. When they got back to working, they decided to find a sustainable way to work and travel at the same time. This involved freelance writing, a travel blog and teaching ESL online. 2 - How VIPKid works VIPKid is a platform for native English speakers to teach English to kids in China. Teachers earn up to $22 per hour, and control their own teaching schedule. Depending on the timezone, teachers can choose to teach in evenings or early mornings, as well as full time on weekends. Rachel makes it clear that it's not a hard gig; lesson plans are made by the company, along with teacher's notes and questions to ask the student. VIPKid is certainly a legit and working side hustles for those who enjoy teaching. 3 - Managing a schedule as an online English teacher The biggest hurdle when teaching online and travelling at the same time is being in the right environment. Rachel and Sasha need to book Airbnbs in advance and make sure they have good internet and a quiet environment. Rachel adapts her schedule to teach certain hours during the day, and then work on other projects or do some travelling in her free time. She gives teaching techniques and schedule tips in her recently launched course 'Teaching for Freedom'. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Aug 2019

32 min 14 sec

Have you ever considered moving into a van and travelling round the country? Sydney is 24 and has been on the road for 2 years. She travels with her dog to every corner of the US, and is currently making money online through her websites. You'll love that story. We also chat about... How to live in a van with a dog The Van Life community What it's like to be a female solo traveller How Sydney got started with the van life How she makes money through her blog Her life and financial goals Enjoy this chat with Sydney, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Sydney's Blog: Divine On the Road  Sydney on Instagram Van Life App Build Your Van Guide Blog Post: Van Life Monthly Expenses Cost Breakdown Gold City Ventures Key takeaways from our chat with Sydney 1 - Living in a van with a dog Sydney travels the US in her van with her one year old Golden Retriever. She explains that the key to making the travels as comfortable as possible was getting a puppy, not an adult dog, so she could train her early on to the van life. Since getting her puppy, Sydney's travelled all around the US and hasn't had any issues with her dog. She only goes where her dog can go, and has learnt how to deal with the smells that come with living in a small space with a dog. 🐶 2 - Building up the perfect van Sydney has experience building up two vans for road tripping round the US. In the first van the materials cost around $8,000, and she had a family friend who was able to help with the fixing up. Her current and second van cost her $16,000 of material plus labour. Her monthly bills are around $2,000 per month, and she feels she has larger control on her spending. Depending on how much she makes that month, she can decide to slow down and travel less. 3 - How Sydney makes money online Sydney started blogging when she first started road tripping in the first van she was sharing with her partner. She blogs about van life and uses affiliate marketing, and also does some freelance web design to make money. All her skills are self taught and she attributes her success to her sheer determination to make full time van life possible. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Aug 2019

34 min 54 sec

Did you know what you wanted to do at the age of 18? Like most of us, Vincent didn't know what he wanted to do, and ended up jumping in and out of college and trying out jobs. He's now been an entrepreneur for 12 years, has published his own book, organises retreats and masterminds and homeschools his kids. You'll love his story. We also chat about... How and when Vincent hit rock bottom How he homeschools his kids From scarcity to abundance mindset His journey from sports photographer to entrepreneur The culture of masterminds and retreats Enjoy this chat with Vincent, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Vincent's website: Total Life Freedom Vincent's book: Freelance to Freedom Freelance to Freedom Free Audiobook Vincent's email: freelancetofreedom@gmail.com Vincent's podcast: Total Life Freedom Key takeaways from our chat with Vincent 1 - The advantages of homeschooling your kids Vincent and his wife homeschool their kids to give them the freedom to pursue their own curiosities. He explains that they get to socialise with children from all different ages, and that the main thing he is teaching them is how to solve problems and how to lead. He doesn't use a curriculum, and instead encourages his children to get comfortable in different environments and follow their interests. 2 - How to achieve an abundance mindset Vincent admits that both him and his wife started their financial journey with a scarcity mindset. The followed Dave Ramsey's approach and cut to the bone in order to improve their situation. But he says that their biggest mistake was not investing in themselves, and that it wasn't until they started working on their network and investing in people they admired that they took on a more aggressive approach. 3 - Building a mastermind community Vincent organises masterminds and retreats to bring people together. His goal is for generous entrepreneurs to meet and help each other out. They get together, brainstorm business ideas and life issues and make friends. The key is creating a culture where like-minded people can work on their goals and ambitions, and bring value to others at the same time. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Aug 2019

29 min 28 sec

Joanie is a full time food photographer who quit her 9-5 job to follow her creative passion. She's always loved cooking, and when she started sharing food content online through her blog and started getting hired by restaurants to take photos of their menu, she realised she had an opportunity to pursue this creative outlet full time. Since then, she's started her own Youtube channel, online courses and physical workshops. You'll love that story. We also chat about... How Joanie got started as a food photographer Leaving her 9-5 job in 2015 Why her and her husband refinanced their house The early trade offs when starting a business Joanie's recipe blog Yes and No tips to food photography Her next steps as a photographer Enjoy this chat with Joanie, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Joanie's website: Joanie Simon Joanie on Youtube Episode: How Randa built a food blog for passive income and the gift of travel – The Bewitchin’ Kitchen Lightroom CC Key takeaways from our chat with Joanie 1 - Pursuing a creative business isn't a straight path Joanie explains that becoming a food photographer wasn't part of a big plan to leave her job. She started because she saw it as a fun outlet of creativity. She attributes her success to being very hands on, to her constant learning through Youtube and her genuine passion and interest. She made her own content and made sure to make friends with other artists, which completely immersed her into the world of food photography. Her Youtube channel also gave her exposure to a whole new set of audience, food bloggers and Youtubers, which further grew her business. 2 - Having a financial cushion. Joanie was the sole breadwinner of a 2 children family when she decided to leave her job. With 9 months of expenses in the bank, she decided to focus on one thing only: getting her food photography business of the ground. Her and her husband also got serious about budgeting and knowing their numbers. They also refinanced their house in order to have more options, flexibility and less stress. This helped her focus on her food photography business and it's what gives her the huge amount of flexibility and freedom she has now. 3 - Building passive income from a creative business Joanie started off with her recipe blog, but this eventually branched into a Youtube channel, food photography coaching and consulting, as well as workshops and online courses. This has been her move towards increasing her passive income and away from exchanging time for money. Through large 500 people workshops and courses she also feels she'll be able to educate people on a deeper level and will be building a much more scalable business. Her dream is to have a physical space to do her workshops. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jul 2019

38 min 22 sec

Kristin retired from her day job to pursue entrepreneurship and make money blogging. Once Kristin realised she could make good money blogging, she set a goal and left her day job once she reached it. Since then, she's set up her own business as a Pinterest VA and now helps others work remotely too. You'll love that story. We also chat about... Her money journey Tips to make money online blogging Pinterest design tips How Kristin got started as a Pinterest VA Becoming a Pinterest VA as a side hustle Enjoy this chat with Kristin, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Become a Pinterest VA Kristin's blog: Believe in a Budget Gold City Ventures (J's Blogging Course) Key takeaways from our chat with Kristin 1 - You can make good money blogging On her 4th month blogging, Kristin made her first $60. At month 10, she was making $4,000 per month. Using spreadsheets and planning, she figured out how much she needed to make so she could leave her job and it's now been 6 years since she quit. Through trial and error, she's learnt the basics of blogging. She realised her income did not rely on how many blog posts she was publishing a week, but more on putting time in the appropriate place: affiliate income, personal products and a lot of experimenting. 2 - Using Pinterest to boost blog traffic Kristin had no experience with social media, but once she discovered Pinterest and started using it, she immediately saw a boost in her blog traffic. She attributes Pinterest as the best way to grow website traffic. Her tips include making sure pins are tall and skinny, making sure colors are light and bright and that pins cover beginner topics such as budgeting and saving. Experimenting with different pin designs is a good way to make sure your blog post gets noticed. 3 - How you can become a Pinterest VA From her Pinterest success, Kristin published a case study showing how much Pinterest boosted her blog. From there, bloggers reached out to her for help with their own Pinterest. She quickly had an entire schedule of clients who hired her to work on their Pinterest. This led to the creation of 'Becoming a Pinterest VA' course that now helps other freelancers make money with Pinterest clients. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jul 2019

27 min 29 sec

Courtney is a member of the LGBTQ community who reached FI earlier last year. Courtney has been on her FI journey for 10 years. She is now married and with one child, and her and her wife have decided to keep working since they are now expecting a second child. She has experience house hacking, paying off student loan debt and reducing her expenses down to $25,000 per year. You'll love that story. We also chat about... Courtney's journey to FI Her first career and income House hacking in Canada Why the 3% or 3.5% withdrawal rate is safer Making money does not have to be selfish Enjoy this chat with Courtney, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Courtney's Instagram: FIRE2Moms1Babe Courtney's blog: Modern FImily The Frugal Philistine All Options Considered Millennial Revolution Mad Fientist J L Collins Paula Pant The Frugalwoods ChooseFI Early Retirement Now Gold City Ventures Key takeaways from our chat with Courtney 1 - Cutting out lattes won't help you reach FI Courtney explains that cutting out small expenses such as lattes won't make a large difference on your path to financial independence. If you enjoy your lattes then there is no harm in buying one every so often. Courtney focuses on reducing large expenses such as her car and house. This value based spending approach has allowed her and her family of 3 to reduce expenses to $25,000 per year. 2 - Why Courtney decided to take a mortgage Courtney was house hacking early on - she bought a four bedroom townhouse and rented out the other 3 bedrooms. Over the years she was able to pay it all off and then sold it for a $100,000 profit. This was enough to buy a new home, but instead she decided to take out a mortgage so she would have more cash to invest in other places and to protect herself against a possible crash. Their goal is to pay off their current house by 2021. 3 - The 3% withdrawal rate Early Retirement Now explains that the 4% is a bit risky and that a 3 or 3.5% withdrawal rate is safer. Courtney explains that they could go as low as a 1.8% withdrawal rate since she's planning on receiving child benefits, making money through side hustles and taking advantage of the change rate between the US and Canada. What's your safe withdrawal rate? Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jul 2019

47 min 59 sec

Joe used to be a professional football player for the NFL. And although he was earning a very high salary, he was surrounded by people who also had high expenses and were living paycheck to paycheck. He has now reached financial independence and lives the van life while drawing down from his nest egg. You'll love his story. We also chat about... How Joe was inspired to pursue FI The identity crisis of leaving your job How he managed his finances while working for the NFL His plans to work on several source of income The mindset blocker when it comes to side hustles Enjoy this chat with Joe, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Joe's blog: Man Van Dog Blog Joe on Youtube, Instagram and Twitter Key takeaways from our chat with Joe 1 - How to deal with an identity crisis Joe was working along players who were living paycheck to paycheck and were big 'stuff accumulators'. Joe himself admits that although he was making a couple million dollars a year, he still felt the need that he wanted more. As he discovered the FI community, he understood the importance of only buying things that add value; if you declutter your physical space, you're also decluttering your mind. 2 - Keeping perspective in the NFL Joe explains that NFL players do blow their money quickly, but there are some good examples of people saving. It's very easy for expenses to go up as a young NFL player - it's difficult to control all that money when you're young, since most times priorities are somewhere else. Once they retire, however, these players not so surprisingly find all their money has run out. Joe dealt with this by having a financial planner that helped him invest his money and set up a 5 year runway budget. 3 - Dealing with a mindset blocker A mindset block to getting started with side hustles is a matter of confidence. Joe says it's important to find what matters to you and to evaluate the amount of access to information you have - with that you can be whoever you want. He enjoys investing in other people's small businesses and helping other young entrepreneurs. He's also managing his blog and sells his very own t-shirts. J explains that it's not only important to start, but also to own/be proud of your side hustle! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jul 2019

20 min 58 sec

4 years into your early retirement... what do you see yourself doing? Kristy and Bryce have been financially independent for 4 years and are busier than ever. They write childrens' books, travel, attend conferences and are now releasing a book. As they say themselves, they are literally living the dream. You'll love their story. We also chat about... Kristy and Bryce's FI story Why it's important to find your identity after FI Their current activities The different Chautauquas Their 3 month plan Book release of 'Quit like a Millionaire' Enjoy this chat with Kristy and Bryce, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Millenial Revolution Episode: Canada’s Youngest Retirees and the 3 Paths to FI – Millennial Revolution Playing with FIRE Documentary Mad Fientist JL Collins Pop Up Business School Chautauquas Book: Quit Like a Millionaire Key takeaways from our chat with Kristy and Bryce 1 - The importance of finding your identity after FI Kristy and Bryce officially left work 4 years ago, so they have quite a bit of experience when it comes to being FI. After 1 year of decompressing and travelling the world, Kristy and Bryce realised that they needed to figure out what to do. We spend so many years of our lives working that our job is closely tied to our identity, and so leaving our job can cause a bit of an identity crisis. For this reason Kristy recommends thinking about what you want to do before even reaching FI. 2 - Chautauquas are a great place to bring your SO As early retirees, Kristy and Bryce travel the world and like to attend the Chautauquas. As Kristy says, the one she attended in 2017 was the best week of her life, thanks to all the strong connections she developed. J also explains that the Chautauquas in Ecuador were a great experience for her too, and it helped get her now husband on board with financial independence. Although not cheap, Chautauquas are a great place to help your SO understand what FI is about and meet like minded people. 3 - 'Quit like a Millionaire' Kristy and Bryce's new book is releasing in early July, and covers the different lessons that Kristy learnt going through all the different socio-economic classes she lived through. She started off in complete poverty in China, and eventually made it through to middle class USA and then a millionaire. This book is to show people that anybody else can reach financial independence, no matter what economic background you come from. The book also goes through how to reach FI with kids and why it's not just for one type of personality. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jul 2019

31 min 44 sec

In this episode, J shares everything you need to know about the side hustle course launching today and brings on current students to share their experiences. There are three courses: Blogging for Profit, Etsy Printables, and Freelancing. You pick one track up front. Go to Gold City Ventures to sign up for the course. A few of you have asked me questions about the course so I will answer them. If you have other questions, just leave a comment or email us team (at) goldcityventures (dot) com. #1: What success have other students had? We have 10 testers in the course right now. Many have never side hustled in their lives. The Etsy students were able to get their printables created and up on Etsy in the first week of the course! I interviewed all the students about their experiences so far in the course in the podcast episode linked above. If you'd rather read the transcripts..(and I had to cut some stuff for the podcast so these are the full transcripts).. You can read the transcript of my interviews with the Etsy students here: Etsy Printables Student Success Stories Here is a quote from James at Rethink the Rat Race. "I was lucky enough to get early access to the “Blogging for Profit” course as a tester. The content is literally incredible. I should mention, we’ve been blogging for two years and This. Shit. Blew. My. Mind. I didn’t realize how many things we were doing wrong or just incorrectly. Every video I watched, I gleaned at least one or two things that we could improve on. Emily came home from work, and I straight barraged her at the door about all the things we need to change. It is so exciting knowing how much better we could be doing with not a lot of effort. So, don’t be surprised if one day you come and our site is completely different." Here is a quote from Erik of The Mastermind Within, who has made $3,000 from freelancing. "I took a DIY approach to freelancing when I started last year and didn’t see much progress for a number of months. I wish there had been a resource out there like the Freelance Toolkit course, but unfortunately, I struggled through the first few months. As much as we love to hear about the self-made businessperson, there is nothing wrong with going to the experts directly and learning from them." I interviewed all the students about their experiences so far in the course on my latest podcast episode.   #2: Are there deadlines in this course? I'm going on vacation next week. No deadlines! This is a completely self-paced course meaning you take it on your own time. You have access to all videos and the course forever and can go through it at your own speed. You can only sign up to join the course through Sunday but after that, you can take as long as you want to take the course. And you can start it whenever works for you too.   #3: What is in the course? We have videos, text lessons, and a Facebook group. We also include bonus content in every course from experts with the different side hustles. And we have workbooks you can print out that teach you different skills. You can see exactly what is in the course in these YouTube videos. Click the one that interests you most: Etsy Printables Sneak Peek Blogging for Profit Sneak Peek Freelance Toolkit Sneak Peek   #4: I'm not creative and have no ideas. Can I do this? Yes! The majority of students who have already signed up to take the course have no previous experience. And they are all different ages (people keep asking me if they can do this if they are not a millennial - I promise you, yes!) You might just have a little fun with this new side hustle! And make some money. We will teach you everything you need to know.   #5. What is the 30-days of free coaching? In your first month we want to provide you with extra help to get started. You can join our VIP Facebook group just for course members which is where we do the coach...

Jun 2019

1 hr 6 min

Steph used to work at SpaceX and NASA... It's Steph's 1 year anniversary since she quit her job working as a rocket scientist. She reached FI by building an income through real estate in Greece, and now spends her time organising workshops and helping women with money as a financial coach! You'll love her story. We also chat about... Steph's strategy to reach FI How she acquired her property in Greece Getting over the fear of going to Europe What she currently spends her time on Her side hustles organising money workshops Enjoy this chat with Steph, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: The Money Muse Steph on Facebook, Twitter and Instagram Gold City Ventures How they paid off $200,000 in debt in 5 years | Mr. and Mrs. rich & REGULAR Article: For These Women, a FIRE That Burns Too Male and Too White Requirements to become an accredited investor Mad Fientist Etsy Shop: The Swag Elephant Book: Broke Millennial Key takeaways from our chat with Steph 1 - The risk in buying a property overseas Steph was born in Greece but moved at the age of 3. She didn't meet her dad until she was 20, and that's when she was introduced to the concept of building villas and renting them out to tourists during the summer. So she started saving all the money from her job to allocate it to building a villa, and hiring her Dad as a property manager. Steph explains that there was a huge risk in this, and she decided to take a year off to see the villa get built and get to know her Dad. In the end it all worked out - she was willing to take the risk to maximise the return. 2 - How Steph decides what to do with her time It wasn't easy for Steph to quit, she first took on a part time contract before completely quitting. She then immediately took some barre classes, got a dog, volunteered at a pet shelter and finally had time to do all the things she wanted to do. Now she works at a co working space and runs a few side hustles including setting up events, financial coaching and talking about investing. She's realised that now that she's FI, she has the time to pursue activities that have a bigger impact. 3 - Not everything has to be tracked Steph does not identify as frugal or non-frugal; she's somewhere in the middle. She lives in Seattle and spends around $4k a month. Her priorities are education and health, and she is willing to spend money on things she finds important. She says that unlike others who reach FI, she did not really track her journey, but relied on her property in Greece to help her get where she wanted to be. As J says, there is no one size fits all approach to FIRE. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jun 2019

37 min 10 sec

How about turning something you love into a side hustle? Brad took a one year sabbatical in 2015 after reaching FI at the age of 35. He owned 5 properties and had a strong work ethic, but decided to take a break when he realised his income wouldn't be increasing much more. He now tours people round Europe, has a blog, a podcast and does some real estate coaching. You'll love his story. We also chat about... How Brad reached FI His career trajectory Where he saved his income His real estate strategy Making the decision to take a sabbatical His side hustle touring people through Europe Enjoy this chat with Brad, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Man Overseas Brad on Twitter and Instagram Episode: Our FI Gap Year Travelling Across the US | Money Metagame Escape Houston Gold City Ventures Key takeaways from our chat with Brad If you want to get into real estate, first do it full time Brad recommends against starting real estate part time. He says the best way to start is full time, since this forces you to be surrounded constantly by people who are closing deals. Brad started out helping friends with real estate, and learnt as much as he could. He learnt to remove his emotions from the process and put up with clients. This is what gave him the opportunity to purchase 5 properties and for his passive income to exceed his expenses. Doing the work upfront pays off It's true that being a landlord can be quite a lot of work, especially if you have difficult tenants. However, Brad explains that the upfront hard work pays off in the end. By making an upfront effort, you ensure that the property will provide for you in the future, which in turns make it more successful. Brad vets his tenants like he would an assistant - he checks previous landlords, income, he interviews them, check their debt and anything he deems necessary to make sure he gets the right tenants. Turn your trips into a business After his 1 year sabbatical travelling around the world, a friend gave him advice to tour people through certain parts of Europe. Brad does several trips per year, books everything for the clients and tours them through the cities. It allows him to use his communication skills and gives the clients a personalised and comfortable trip. It's very informal and all his costs are covered except his flight. A handy side hustle for those who want to travel and make money at the same time! Questions? Like or dislike? Leave us a comment! Want to support the podcast?  Here are three things you can do. 1.  Start tracking your net worth with Personal Capital using our link.  It's free. 2.  Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3.  Join our Facebook group and connect with other members of the FI community.  

Jun 2019

47 min 30 sec

Have you ever tried negotiating for more flexibility at the workplace? That's exactly what Ms Mod did: she presented a proposal for better policies, and was able to negotiate with her employer to work from home for the same pay and benefits. She's also halfway on her path to FI and is mortgage free! You'll love her story. We also chat about... Ms Mod's path to FI How she got started with her career Negotiating flexibility How to present a policy proposal The Canadian path to FI Taking out money to pay off a mortgage Enjoy this chat with Ms Mod, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Modest Millionaires Ms Mod on Instagram and Twitter Cody at Fly to FI Gold City Ventures Article: 2018 Spending & Investments Review Book: Work Optional: Retire Early the Non-Penny-Pinching Way Blog: Our Next Life Mr Money Mustache Forum ChooseFI Episode: 088 | Career Hacking the Tech Industry | Millennial Boss Episode: How Negotiating Boosted My Income to a 6 Figure Salary | Financial Mechanic Blog: A Purple Life Episode: How I’m Retiring Next Year on a $500,000 Nest Egg | A Purple Life Key takeaways from our chat with Ms Mod 1 - How Ms Mod is getting to FI Ms Mod is half way on her path to FI, with 5 and a half years left! Her and her husband currently invest in real estate and use investment vehicles to build their wealth. They started building their wealth in 2012, and as they say it takes longer to get to the first half than the second half. Last year they saved $45,000, and they use the 'Pay Yourself First' strategy to keep their savings on track. Ms Mod doubled her salary in 4 years thanks to a career change. 2 -How to create a proposal for a policy change Ms Mod had her second baby, and decided she wanted more flexibility in the workplace to be with her children. So after hearing ChooseFIs episode with J on presenting a policy proposal, she did the same to change her work environment. On a 3 page proposal she added everyone's reasons for wanting to work from home, the benefits, statistics, surveys, Q&As and potential solutions for problems that may arise. She then gave them several options for them to work with, and they did a trial period of 6 months. She now works full time from home. 3 - The Canadian path to FI and paying off the mortgage Ms Mod explains that as a Canadian you have two main tax vehicles to invest with: TFSAs and RSPs. She says that your best bet is looking at your taxes and understanding them, so you know which one to prioritise. This allowed Ms Mod to take out the appropriate amount of money to pay off their mortgage. They decided they would be happier without having to pay off their mortgage every month, and so paid it off all in one go. She says the feeling to be mortgage free is priceless. 💸 Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jun 2019

37 min 55 sec

Ever heard of a teacher version of Etsy? April Smith makes a full time income from her side hustle selling digital downloads on Teachers Pay Teachers, a marketplace for teachers to buy and sell lesson plans. She talks to us about her side hustle journey, how she got started and how she designs and markets her lesson plans. You'll love that story. We also chat about... Making the decision to leave a teaching job April's financial journey from debt to financial freedom How she got started selling lesson plans The types of lesson plans she sells How she decides what to invest back into the business Marketing and sales strategies Juggling twins and travel Enjoy this chat with April, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Website: April Smith Podcast: Grow with Angie and April April on Instagram Teachers Pay Teachers Gold City Ventures Personal Capital Adobe Illustrator Canva Article: Hacking My Engagement Ring with Moissanite Key takeaways from our chat with April 1 - Sometimes it's better to have more money than a fancy college degree April went to a community college for 2 years and then a state university to finish her degree. Not once has anyone asked where she spent the first two years. Her husband saved for an online masters degree and got a certification from an affordable accredited online school. J and April both agree that a degree is more of a stepping stone, and that where you get it most times doesn't really matter. 2 - Growing a side hustle to a full time income April started selling digital products 7 years ago, when she started having ideas for lesson plans that she wanted to share with others. She started selling product based learning lesson plans which took off, and put several worksheets and plans into a bundle to sell to other teachers. After several years she started making a full time income from her side hustle, which she initially used to pay off student loan debt and now to reach financial freedom. Her success means she has much more flexibility and can spend more time with her children. 3 - Strategies to make your product stand out Having a good copy and marketing strategy is essential to getting your product out there. April explains the importance of branding and learning about colours and copy. She keeps her design minimalist and clean, and makes sure to use the right keywords and do SEO. She puts herself in her audiences' shoes to be able to communicate effectively what her digital product does. She also uses Pinterest and Instagram, and attributes her large amount of sales to having a lot of content on social media. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Jun 2019

54 min 17 sec

What is the best way a physician can reach FIRE? In this episode J talks to Jesse, a physician who is set to FIRE in 10 years. He is currently 43 with 3 children, and talks to us about his different lifestyle changes, his investment strategies and negotiation advice. You'll love that story. We also chat about... His plan and timeline for FI and his children's education The ethics of retiring early as a physician How he cut back on hours His plan on international travel Rebalancing his portfolio and his investment strategy How to negotiate from above Enjoy this chat with Jesse, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Jesse's blog: Doc of all Tradez The Physician Negotiator Unplugged Parents Physician on FIRE Seak Medicine Physicians helping Physicians Nuestros Pequeños Hermanos William Bernstein Dough Roller Episode: A to Z of the Startup Life and Cryptocurrency with Erica Amatori Crypto Zombie Youtube Krowns Crypto Cave Episode: How Negotiating Boosted My Income to a 6 Figure Salary | Financial Mechanic Stuart Diamond Key takeaways from our chat with Jesse 1 - The market for retired physicians is ready for disruption Quitting medicine early is a one way street since it's very hard to go back to being a physician once taking some time off. There are also some ethical questions behind retiring early as a physician, simply because physicians help save lives and are necessary to society, whereas someone working in the tech industry isn't as needed. However, Jesse argues that tele-medicine is already starting to be a thing, with retired physicians helping companies and individuals with their health from the internet. 2 - How to negotiate as a physician Jesse explains that physicians don't negotiate when they are first hired, causing the entire average salary to decrease. This is because in their first job interview they're happy to take anything. Jesse argues that as a physician you have a huge opportunity to earn a larger salary, even if you end at the bottom of your class. His three negotiation steps are: Use the data to prove what you're worth. Get them to like you Learn to deal with and use your emotions 3 - Rebalancing your portfolio Jesse has a slightly different investment strategy which includes rebalancing his portfolio every quarter and setting targets for bonds, alternatives and stocks. This follows a specific asset allocation strategy which offers a more balanced and personal approach to investing. Jesse also likes cryptocurrency and explains how owning bitcoin now could pay off a lot in the future. Crypto consists of 1% of his portfolio, but he advises that you should only invest what you're willing to lose. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

May 2019

52 min 26 sec

Today's episode has 3 big announcements! 🎉 In today's episode Gwen and J give us a rundown of their FI journeys and everything they've learnt through this podcast. Gwen loves DC and will soon be changing to a better job, J announces that she's pregnant and due in August! Sadly, Gwen announces that she will be leaving the FIRE Drill podcast. You'll love today's episode. We also chat about... How Gwen and J have changed after 155 podcast episodes Mental health and saving the right amount of money J's pregnant! Gwen's life in DC Gwen's decision to leave the podcast FIRE Drill's accomplishments J and Cody are launching a course together Enjoy this update, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Fly to FI Grant Sabatier: Millennial Money Course: Gold City Ventures Millennial Boss on Instagram Gwen's blog: Fiery Millennials Gwen on Instagram and Twitter Key takeaways from our updaten9y 1 - Gwen and J's view on financial independence have changed When Gwen discovered financial independence she started saving aggressively and now has over $200,000 saved up. But now she is less focused on the retire early side of FIRE, and is now focusing on building a life and career that will fit her best. She's taking her time to enjoy life, keep a pretty high savings rate of 30-40% and not taking it too hard. J's attitude has also changed. When she first started on her path to FI she was aggressively paying off her student loan debt. Now she realises she doesn't need 25 times her annual expenses to enjoy life, and so is focusing on funding businesses and her current job. 2 - J is pregnant! J's child is due in August, and she's very excited. She did not want to announce earlier because she wanted to tell her parents first in person, and was waiting for her job to give her a higher position so she could secure the raise. Her and her husband have decided now is a good time to have a child since they are planning on staying put for some time now, and they felt ready. Huge congrats! 🎉 She will also be launching a course along with Cody from Fly to FI to help others manage side hustles that actually make money. 3 - Gwen is leaving the show After 2 years of hosting the FIRE Drill podcast, Gwen has decided she needs space to grow in life. The podcast takes a lot of time to manage and grow, and she's decided she now wants to spend the time doing something else. She will still be posting on the blog, but will be cutting back considerably and focus instead more on her career, on enjoying what she does and being who she is. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

May 2019

32 min 44 sec

Ever considered taking a gap year right in the middle of your career? That's exactly what Becky and Noah did. We interviewed them before they went off on their 1 year road trip round the United States, and now they tell us how it went, their takeaways and plans for their future. You'll love their story. We also chat about... What surprised them about their trip Their advice to others who want to take a gap year Getting back into the workforce after a gap year Why they didn't try to start any new business ventures Why they chose California Enjoy this chat with Becky and Noah, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Becky and Noah's blog: Money Metagame Becky and Noah on Instagram and Twitter ChooseFI episode with Naseema: How I Paid Off 1 Million in Debt Article: Hotel stats from a year on the road Episode: How to make $14,000 honeymoons cost $500, and taking a gap year with Noah from Money Metagame Key takeaways from our chat with Becky and Noah 1 - Their biggest takeaways from the trip Both Becky and Noah were surprised at how comfortable they were living out of their car. They were living lean, didn't have high expectations nor a specific outline of their trip, which gave them a ton of well deserved freedom. They spent much less than they thought they would and used hotel points and cashback to reduce the cost even further. 2 - Advice for those who plan on taking a gap year Noah explains that doing a gap year right in the middle of your career is the perfect timing. He says that if they had done it too early they wouldn't have had such a decent amount of cash saved up, and the compounding interest wouldn't have had as much of an effect. They also recommend to talk to your employer and make sure you feel comfortable you'll get a job when you get back from your gap year. 3 - The biggest benefits of taking a gap year This gap year was their year to chill. Becky was burnt out from her nursing job and needed some time to recharge, so this was the perfect opportunity to do so. This time off allowed them to relax and by the end of it they were actually looking forward to going back to work. By exploring all these cities in the US, they were also able to pick a location that fitted them best. The fact that they're changing jobs also means a bump in their salary, and they've also now decided to be more relaxed about reaching FI. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

May 2019

35 min 11 sec

Most early retirees will tell you that you'll most likely still make money even after retire. That's why JT decided he didn't need to reach the full 25 times his annual expense in order to quit his job and enjoy being with his family. Instead he has a runway for several years and is working on land investing to produce his main income. You'll love his story. We also chat about... Reaching FI with 4 kids The runway approach to FI JT's current assets How paternity leave gave him a taste of FI Land investing as an income His healthcare strategy Enjoy this chat with JT, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Youtube video: Land Flipping 101 for Beginners Episode: How to Create Passive Income from Etsy Digital Products | Mastermind Update Camp Mustache Chautauqua UK FIREDrill Facebook group Key takeaways from our chat with JT 1 - You don't need 25 times your annual expenses to quit your job JT tells us that when attending a Camp Mustache, most early retirees told him that he'd still make money even after he was retired. After hearing this he decided to take the runway approach to FI; saving up for several years, quitting his job but still working 10-15 hours a week on a different project that will produce revenue. He is nowhere near meeting the 4% rule, but that's absolutely fine with him because he's still making money and has several years saved up in case the projects don't work. 2 - How JT quit his job 2 weeks ago JT started talking to his boss about quitting in December of 2018, giving his company a good amount of time to find a replacement. Gwen explains that many people fall into two camps when quitting a job; either telling their boss well in advance and helping them find a replacement, or letting them know 2 weeks before quitting. This is really because it depends on the relationship with the manager and boss. JT tells us that he was lucky to have a good boss and his excellent relationship with his managers is what allowed him to make a large amount of money from the start. 3 - Land investing as an income JT's current project is real estate investing with a twist. He sources land below market price and then sells it to the market at a discount. He explains that it's an easy model since it mostly uses all cash and the transactions are fast and easy. The hard part is finding the land at below market place. So far he's done deals on 16 properties and it takes him 3 months or so to sell them off. This is a great model since he explains that he gets cashback and residual income, and can expect at least a 100% return. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

May 2019

34 min 24 sec

How many times were you in a position to negotiate your salary? Financial Mechanic is a software engineer at the age of 25. She's negotiated for her salary several times which has boosted her income into the impressive 6 figures. She's now on her track to reach FI at the age of 32. You'll love her story. We also chat about... How to get a job in software engineering How she applied to jobs Why she wants to reach FI Her timeline for the next few years How negotiating booster her income to 6 figures Her love for travel Enjoy this chat with Financial Mechanic, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Financial Mechanic Blog Financial Mechanic on Twitter and Instagram 7 Tips for Negotiating - How I Doubled My Salary in Two Years Tackling the Money Taboo — How to Talk About Your Finances How I Became a Software Engineer Without a CS Degree Don’t Climb The Ladder; Take the Elevator On Love and Money—The Mechanics of Shared Finances Codecademy Khan Academy Book: Cracking the Coding Interview MatLab Episode: Canada’s Youngest Retirees and the 3 Paths to FI – Millennial Revolution Chautauquas Key takeaways from our chat with Financial Mechanic 1 - You'll learn the most on the job Financial Mechanic has a degree in mechanical engineering, but got a job in software engineering. She explains that she did have to pick a coding language to work on so she could apply to the job, and recommends Javascript as a good place to start. But she does admit that she learnt most of what she knows on the job itself. If you're thinking of a career pivot she recommends looking for a job geared towards a junior position, or even checking out schools for people who want to change industry. She researched the interview questions and read the book 'Cracking the Coding Interview' to be fully prepared. 2 - Negotiate when switching job When negotiating, FM recommends to ask employers to give the first number. Both Gwen and J also talk about the importance of knowing what to expect, whether by talking to someone already in the company or doing some in-depth research. If the employers don't give you a number, you can also ask for a range, and aim for what you feel they would accept. J emphasises that you don't need to reveal how much you got paid in your last job when applying to a new one. J and Financial Mechanic recommend not to be confrontational and to look for a win win situation. If the company can't afford the money, you can also try asking for more vacation time or other benefits. 3 - The more you negotiate the better you get at it The more negotiating Financial Mechanic did, the better she got at it. She started with $65k salary, moved up to $72k and then $105k. After that her salary kept increasing 10%, and she gained more confidence to ask for more. She admits that there are not a lot of resources for women to learn effective strategies to negotiate, but with continuous practice she now feels confident. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

May 2019

47 min 23 sec

One FI strategy is focus hard on your own career to fast track your path to FI. Robert worked for the same company for 15 years, which allowed him to get multiple promotions, become a leader at a young age and retire early at the age of 36. He worked in sales and thanks to a good boss and network, he was able to move up the corporate ladder to eventually reach FI. You'll love his story. We also chat about... How to quit your job Why working in sales makes promotions easier Optimising your career to reach FI Negotiating your promotion Robert's plans after leaving his job completely Enjoy this chat with Robert, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Stop Ironing Shirts blog and on Twitter Blog post: I Gave My Early Retirement Notice... and Live Tweeted It Key takeaways from our chat with Robert 1 - Working in sales makes promotions easier Robert explains that he was able to get 5% salary promotions because he worked in sales, where your performance is more quantifiable and you have more of an opportunity to grow your career. Although people may look down on sales, it really depends on what you're selling. Robert's strategy revolves around asking the client questions and letting them talk. He also recommends getting into a sector that sells expensive products in demand. 2 - The importance of having a good mentor A good boss or mentor is the one who will put their neck out for you when you're trying to get a promotion. Robert relates much of his promotion success to trusting his boss and proving himself to his superiors. For this reason it's important to know who you're working for, what their reputation is and to make sure that they are influential and powerful. 3 - Build a skill not many people have Robert was highly skilled in commercial lending, which meant companies needed him. It meant he was confident he could always bring in revenue from his company thanks to his skills and knowledge in that specific area. Robert recommends having a highly sought after skill and also becoming a leader. Leading small groups is what increased his performance and therefore his promotions. It's a skill that does require constant learning and thinking, but pays off well in the long run. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Apr 2019

27 min 59 sec

Reaching FI and preparing for kids at the same time sometimes doesn't go as planned. In this episode we hear tips and tricks from our community on planning for children, the different options LGBTQ couples have and advice when it comes to paternity leave. You'll love this episode. We also chat about... Family timing and tips Why it can be dangerous to wait too long The different options LGBTQ couples have Why you should divide your paternity leave Working as a stay at home Dad Enjoy these tips and tricks, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Playing with FIRE Documentary Journey to Launch Financially Intentional Courtney & Nicole's Instagram House of FI Savvy History Book: The First Forty Days Financial Samurai Key takeaways from our community advice 1 - Even when you plan for children, there will be bumps on the road Planning for children can be a natural thing to do, especially in the FI community. Lynne recommends saving one year in advance if you're going to pay for daycare, and expect the cost of a child to be like a second mortgage. Jamila also recommends to pay off debt, have a home and have an FU fund before having children. Having said this, Felissa advises against waiting too long, since after the age of 30 your maternity is at a higher risk. This can be very expensive if you decide to pay for IVF, and it can harm your relationship with your partner. 2 - Work out your options as an LGBTQ couple There are quite a few options to having children as an LGBTQ couple - but it's important to plan accordingly. This ranges from adoption, to surrogacy, to adopting from a foster home. Courtney and Nicole decided to work with a fertility donor and it took quite a hit on their budget between all the missing days of work, the stress and social cost. Because they were diligent savers before they had their daughter, Nicole was able to quit her nursing job and stay home with their daughter. They've now been able to hit their FIRE number as a family of 3 but expect to add more to it when they expand their family to 4 in the future. 3 - Split your paternity leave Nicholas recommends splitting paternity leave as this helps your partner and also means you can enjoy more time with your child at different ages. It's also good to ask your company whether taking paternity leave might hinder your career - in most cases you'll be glad to know that it won't. The amount of flexibility it gives is extremely helpful. There is still a stigma around fathers taking paternity leave as well as being stay at home Dads, however people like Financial Samurai prove that people are doing it and that you shouldn't be worried of what other co-workers think. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Apr 2019

55 min 19 sec

Imagine making 39,000 sales through your Etsy shop. That's exactly what Alys Maley has made in total since she started selling digital products through her Etsy shop. She went from a full time job as a designer to working from home and earning even more through her side hustle, allowing her husband to also leave his job. You'll love her story. We also chat about... Her career as a designer Her initial investments Her journey getting to 39,000 sales Advice to those getting started How to manage clients Enjoy this chat with Alys, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Alys' shop: Paper Lark Designs Photoshop Illustrator Adobe InDesign Canva PicMonkey Facebook group: Etsy Passive Income Girls Facebook group: Etsy Passive Income FIREDrill's Facebook group: Etsy Downloads and Printables with Gwen and J J's Etsy Printables course Key takeaways from our chat with Alys 1 - Your digital product should solve someone's problem Alys attribute most of her success to simply finding a niche that solved someone's problem. Her niche is professional photographers who need templates and quick graphics to promote a session. She didn't reinvent the wheel, she didn't join an already saturated niche. She says the key is to find a niche where someone has already validated sales, but which isn't overpopulated with sellers. Understand the market and keep following this successful formula. 2 - Value your skill set When starting out, you need to value your work. If you offer a customisation for $5, you won't get high value clients and you'll be underpaid for spending hours exchanging emails and adding more customisations. Alys' clients first pay for the customisation and then she spends time personalising the digital product. For this reason it's important to understand your clients, your market and your own value. 3 - SEO doesn't always matter Alys does not invest at all in SEO, and yet has one of the most profitable shops in her niche. She says this is because she simply solved a problem, and this made clients come flocking to her shop. If your product is in high demand, you will get high sales. If you don't have the right skill set, you can teach yourself - as Alys taught her husband - but really the key thing you should focus on is what value your product is providing customers. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Apr 2019

38 min 49 sec

Spend based on your values rather than your wants. This is what Steve does with his money, his values being his wife, happiness, travelling, health and fitness. By focusing his money on the right things he was able to pay off over $100,000 in debt, house hack and reach his own level of freedom before even reaching FI. You'll love his story We also chat about... The moment Steve realised he needed to fix his finances How him and his wife house hacked their mortgage Moving from Chicago to Miami Spending based on values rather than wants His future FI goals The FI levers he's taking advantage of Can everyone achieve FI? Enjoy this chat with Steve, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Steve's blog: Even Steven Money Steve on Twitter, Facebook. The FIRE Documentary Episode: Set for Life with Scott Trench Key takeaways from our chat with Steve 1 - How house hacking gave Steve a huge bonus Steve explains that him and his wife moved to Chicago and bought a foreclosed house in 2012. After renovating it, they moved into the attic and used it as their own apartment and then rented out the rest of the building as well as the garden. The renters eliminated that mortgage, and with the extra payments they were able to pay the mortgage on their Florida house off. With this extra money they were able to pay off other stuff early, and get out off $100,000 in debt! 2 - Doing a FI trial run Steve focuses on his keeping a stable income and low spending, which means that him and has wife have a lot more flexibility and freedom. His wife works full time remotely, and he is building his own business. They're already at their own stage of financial freedom, and will be figuring out their ideal lifestyle for the next 3 years. Their goal is to have 1 million dollars and then use the 4% rule to live on $40,000 per year, but they are not aggressively saving at the moment as make sure to prioritise their current lifestyle too. 3 - Spending based on values rather than wants Spending based on values means buying things that truly bring happiness. If you identify your values first and then spend based on these, you are more conscious on where your money is going which therefore brings you more satisfaction. If you value cars and know a new car will make you happy, then by all means by the new car (if you can afford it, of course). Steve identifies his values as being his wife, happiness, travelling, health and fitness. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Apr 2019

38 min 27 sec

Have you ever felt that pursuing FI affected your mental health negatively? Today we talk to Hillary, who struggled with anxiety and depression in her younger years and has worked with therapists to improve her mental health. She is also on her journey to FI, but does not sacrifice her mental wellbeing for financial independence. You'll love her story. We also chat about... Hillary's background Doing therapy online When is it time to see a therapist? What to do as a friend Gwen and J's experiences in mental health The importance of setting boundaries Enjoy this chat with Hillary, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Talk Space The Frugalwoods Calm App Headspace Hillary Wallace on Facebook Episode: The State of FIRE : A Holiday Chat with Erin Lowry from Broke Millennial Top Mental Health Apps Impactful infographic from the National Alliance of Mental Illness A walk though site on how to seek mental health treatment Key takeaways from our chat with Hillary 1 - Like FI, improving your mental health comes from within Both Gwen and Hillary have been through some tough mental health challenges. As a friend, it's not easy to understand what the best thing to do is. Hillary says that really it is up to the person to work their mental health. Similar to FI, someone can influence you and try to reach FI, but in the end you're the one who has to take action. With mental health, friends can support you and be present, but at the end of the day only you can work on your mental well being. 2 - The stress is not worth the money Many times reaching financial independence can take a toll on your mental health. If you put work first and don't take care of your personal self, this can result in much more anxiety, stress and overall unhappiness. J used to work in a pretty stressful environment in California, and admits that the stress was not worth the money. Your financial health will only flourish when your body and self are prioritised. 3 - The importance of setting boundaries Hillary explains the importance of setting boundaries at work and your personal life in order to better manage stress and anxiety. Although it certainly depends on your position and experience, turning down certain activities and setting boundaries can help you manage stress and anxiety much more easily at work (e.g. asking to do less international travel). Hillary also recommends talking to your boss and framing it in an open ended way, as well as having an emergency fund to have the flexibility to change jobs if needed. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Mar 2019

49 min 14 sec

What will you with your time once you retire early? We know you've wanted to hear more from early retirees, so today we interview Chris, who retired at the age of 41 after working for 15 years as a physical therapist, and now lives in Utah with his wife and daughter. You'll love his story. We also chat about... His job as a physical therapist His emotions when leaving his job Moving from Pennsylvania to Utah What he's currently doing with his time Figuring out the healthcare situation His plans for the future Enjoy this chat with Chris, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Can I Retire Yet? Episode: How to Learn from Mistakes and Turn Your Life Around with Joel from FI180.com Article: Does FIRE Make Life Harder? Article: Are Health Care Sharing Ministries A Viable Alternative To Health Insurance For Early Retirement? Article: Navigating ACA Tax Credits to Purchase Affordable Health Insurance Article: Exploring the Pros and Cons of Retiring Before Your Spouse Article: A Week In The Life of a FIRE Household Article: Order of Operations for Tax Advantaged Investing Key takeaways from our chat with Chris 1 - You can have a great job and still want to leave Chris had a great job as a physical therapist. He worked at the same company for 15 years, and found the job very rewarding. He would experience every one of his patients getting better, and was working in a family atmosphere between workers. Even though he was very lucky with his working conditions, he tells us was ready for a change. There was a lot of bureaucracy and the repetitiveness made the job a little mundane. In any case, his last day on the job was full of emotion since he felt both happy and sad. As he says, leaving your job is rarely a black/white situation. 2 - What Chris does with his time As an early retiree Chris spends most of his time outside. He moved from Pennsylvania to Utah with his wife and daughter to really live right in the middle of nature. During the winter he goes skiing 4-5 days a week, and during the summer he spends his time hiking on trails. He truly is able to go out every day, and in addition has now taken up blogging and writing. He has time to take care of his daughter, and has the freedom to do as he wishes. 3 - Being FI as a team Chris' wife is still working remotely, since she enjoys her job and doesn't feel the need to retire. They are now working as a team and have made up their own rules when it comes to managing the family. They're currently living off Chris' wife income, which in turn allows their investments to grow until she decides to leave. They've also switched their mindset to investing their money in the right accounts, and not only in tax advantaged vehicles. Although one spouse being retired while the other one works is a very much debated topic, Chris explains that they are a team, and each person is in charge of different aspects of the household. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Mar 2019

35 min 20 sec

Do you believe in paying off your mortgage? Or using that money to invest in the stock market? Or a hybrid approach? In this episode we do a big debate on whether paying off your mortgage really is the right thing to do. We get some interesting voicemails from both sides of the debate, as well as some messages from the community! You'll love how interesting it gets. We also chat about... Updates from Gwen and J Voicemails for and against paying off your mortgage Gwen and J's personal take The hybrid approach Opinions from the community Enjoy this debate, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode The Military Guide Rich and Regular Marriage, Kids and Money 1500 Days FIREDrill's Facebook group Key takeaways from our great Debate 1 - Some arguments for paying off your mortgage The main argument on paying off your mortgage is an emotional one. If you personally feel less stressed and happier knowing you own your home, that's likely the best strategy for you. Here are some other arguments for paying off your mortgage: It's always good to have one less bill It gives a significant boost to your FI number Having a house is good in case of having a financially insecure parent Stress, freedom and happiness cannot be calculated with numbers It increases your net worth It gives a huge boost to your savings rate (once the mortgage is paid off) 2 - Some arguments against paying off your mortgage Those against paying off your mortgage argue that really it's a numbers game, and that if you do the calculations you're most likely better off not paying your mortgage early. Here are some of the other arguments: If you have a reliable income (such as an annuity) and your mortgage payments are steady, there is no reason to pay it off early It's a hedge against inflation You might want the money around to be able to invest in something unforeseen Now is the best time to have a mortgage thanks to the super low interest rates Right now, you'll probably make more money in the stock market You might not want too much of your net worth tied into real estate 3 - At the end of the day, it's a personal choice Whether you pay it off or not, at the end of the day it's what helps you sleep best at night. Some of the other responses went for a more hybrid approach. Josh, for example, maxes out both his 401k and IRA, and then all his extra payments go towards the mortgage. Brandon also has a hybrid approach, showing that his priorities are first his employer contributions and then the mortgage. Christopher also recommends always having an emergency fund before deciding to pay off your mortgage - just in case you need the money immediately! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Mar 2019

46 min 15 sec