Financial Independence Podcast - Early Retirement | Investing | Real Estate | Entrepreneurship

On today’s episode of the Financial Independence Podcast, I interview a serial entrepreneur who has achieved financial independence three different ways! You’d think that selling a company to Google or buying San Francisco real estate before prices went crazy would be the best way to reach financial independence but that’s not been the case for today’s guest, Chris Hutchins from Grove. Although he’s done all of those things, Chris shares how consistent saving actually impacted his net worth more than anything else. This episode is packed full of useful information, especially if plan to start your own business or want to do something meaningful after early retirement, so hope you enjoy it! Highlights: What it’s like being an investment banker How to get a job you really love Biggest business lessons learned from working at Google Ventures Why you should always say “Yes” The benefits of doing something interesting every month How aggressive saving can impact your net worth more than selling a company to Googl

It’s been a while since I posted a new Financial Independence Podcast episode but I’m excited to share one with you today! Mr. and Mrs. 1500 from 1500Days.com joined me live at FinCon in Dallas to interview the Physician on FIRE! We sadly only had 25 minutes to record so it’s a short interview but it’s a fun one. If you ever wanted to hear Mrs. 1500 rap, this episode is definitely for you :) And if you ever wanted to hear what a podcast sounds like when two out of the three hosts are ridiculously hungover, this one is also for you (see if you can figure out which host is the sensible one). I’ll be back to my longer, more in-depth interviews soon but for now, I hope you enjoy this wild and entertaining conversation with the Physician on FIRE! Highlights: How to separate your identity from your job Using geographic arbitrage to spend less while getting paid more (without ever leaving the United States) How to deal with sunk costs What it’s like finding FIRE after already achieving financial independence Plus,

One of the internet’s most-respected retirement researchers and financial planners, Michael Kitces, joins me for an episode of the Financial Independence Podcast! You may remember that my Safe Withdrawal Rate post drew heavily from the incredible research Kitces has done on the topic so it was great to talk to him directly to dive even deeper into important topics related to early retirement. During the interview, we discuss… Safe Withdrawal Rates and whether the 4% rule is still safe in the current market environment The unique challenges early retirees face that normal retirees don’t (and also some of the unique advantages early retirees have) How Michael tackles early retirement from a financial planning perspective If you’re worried about figuring out how much you can withdraw from your portfolio after you retire, this episode is for you! Highlights: Why Michael began researching safe withdrawal rates What the Shiller CAPE is and how it can be used to determine a better safe withdrawal rate Why the ini

On today’s episode of the Financial Independence Podcast, Jeff from The Happy Philosopher joins me to discuss the unique challenges that doctors and other professionals face on the journey to early retirement. When you invest so much time, money, and energy into your career, it’s no wonder that walking away from your job is much more difficult. We discuss alternatives to early retirement, which provide a lot of the same benefits but limit the downsides, and we also dive into ways you can increase your happiness during your journey to FI! Highlights: The unique problems that doctors face when pursuing financial independence How you can separate your identity from your job Why you should focus on happiness instead of FI The benefits of the best drug in the world Why you should stop watching news (and stop worrying about things you can’t control) What is a ‘job share’ and why it’s a great alternative to early retirement

To celebrate the 5-year anniversary of launching the Financial Independence Podcast, I've republished the very first interview I recorded back in 2012 with Mr. Money Mustache. In addition to the original interview, this episode also contains an updated introduction that tells the story behind the interview! Highlights: How Mr. Money Mustache and his wife retired in their early 30s Why he decided to start writing about financial independence The benefits of raising children after you’ve already retired What MMM likes most about early retirement Why you need to ride a bike

On today’s episode of the Financial Independence Podcast, I had the pleasure of speaking with Steve from ThinkSaveRetire.com! Steve initially planned to retire at the age of 40 but after making some drastic lifestyle changes, he ended up walking away from his job at 35. One of the biggest factors that reduced his time to FI was his and his wife’s decision to sell nearly everything they owned and move into an Airstream. If you have dreams of spending your early retirement traveling around North America in an RV, this episode is for you! We dive into the costs of RV life, the benefits of drastic downsizing, and Steve’s advice for anyone who wants to hit the road after retirement! Highlights: How to shed the golden handcuffs The problem with promotions and the joy of stepping off the ladder The costs of living in an RV full-time Using a health share ministry for health insurance and going to Mexico for dental work Why you should start with a smaller RV than you think you need

I can’t believe it… One of the founders of the financial independence movement, Vicki Robin, joined me for an episode of the Financial Independence Podcast! Vicki and her partner Joe Dominguez wrote the book, Your Money or Your Life – a New York Times Best Seller that many people consider to be the bible of financial independence (the FI-ble?). Your Money or Your Life is actually what inspired me to create the FI Laboratory many years ago. Vicki has been a driving force in the FI community since the 1960s and has a wealth of knowledge and inspiring stories to share so hope you enjoy the interview! Highlights: The story behind Your Money or Your Life How Joe was able to retire at the age of 31 in 1969 with $70,000 in the bank Why Vicki’s quest to change the world didn’t succeed (yet) How a stage-3 cancer diagnosis changed her plans What’s going to be different in the new version of Your Money or Your Life What she believes are the most important steps in the Your Money or Your Life program How the book’s inve

Later this year, at the ages of 38 and 41, the couple behind OurNextLife.com will be quitting the stressful, time-consuming jobs that they’ve held for most of their adult lives and will be retiring to a life in the mountains. This is particularly interesting to me because one of my dreams is to live on the side of the mountain and get a part-time ski patrol job. Because really, what could be better than waking up early after a big snowfall, grabbing a cup of coffee with your buddies, then strapping on your skis and heading up the mountain to throw bombs and trigger avalanches? Join me for a Financial Independence Podcast interview with Ms. ONL to hear all about this exciting transition to the mountains and to find out what their next life has in store for them! Highlights: What to do if you’re not naturally frugal Why you should gradually trim your expenses if your spending is high The risk of losing your identity when leaving a long-term, time-consuming job Finding meaning after early retirement Using your

After delivering an epic guest post on the tax advantages of investing in real estate, I asked Chad Carson from CoachCarson.com to join me on the podcast to hear more about his own experiences with real estate investing. Chad started with only $1,000 in the bank and was able to build up a real estate empire that now consists of over 90 units! It’s an incredible story of hard work, intelligent money management, and perseverance so listen to find out how he did it. And if you’ve ever wanted to know what it felt like to be a full-time real estate investor when the entire housing market collapsed in 2008, hear how Chad survived despite making over 50 acquisitions in 2007 alone! Highlights: How to get started in real estate with no money What is ‘bird dogging’? Why you should invest in something that’s simple and understandable The numerous ways to finance real estate purchases What it was like to survive the financial crisis as a real estate investor after making 50+ acquisitions in 2007 The importance of having

On today’s episode of the Financial Independence Podcast, Gwen from Fiery Millennials and Julie from Millennial Boss join me to talk about millennial finances and what young people should do to reach financial independence as quickly as possible! Highlights: Thoughts on Chautauqua and Camp Mustache (including the awful financial advice Julie received in Ecuador) How Gwen landed her dream job and how Julie increased her income by 600% in 5 years The benefits of starting your own blog Why Gwen is the real-life Guinea Pig How to get a college degree for free (or as cheaply as possible) Why everyone should have a side hustle How to negotiate a higher salary (including Julie’s story of how she earned an additional $80,000 by negotiating!) What to do if you already have an inflated lifestyle

On today’s episode of the Financial Independence Podcast, I interview my wife, Jill! It took a lot of persuading to get her on the show but I’m glad she agreed because her perspective is very different from mine so it was interesting to hear her thoughts on financial independence, early retirement, and this unconventional life we lead! Highlights: When my wife found out I was a weirdo with money My lowest point as a cheapskate Why Jill and I kept our finances separate The importance of figuring out your perfect life How to get your spouse on board with FI Why you should start small when trying new things What I do that annoys my wife most    

Joining me on today’s episode of the Financial Independence Podcast are FIRECracker (Kristy) and Wanderer (Bryce) from Millennial Revolution! Kristy and Bryce exploded onto the scene after a video clip of them attacking the religion of homeownership went viral (it is now the most-viewed and most-shared video on CBC.ca, Canada’s largest news website). During our interview, we dive into the viral video, explore why they believe buying a home is usually a terrible idea, and find out what they’ve been up to after retiring in their early 30s! Highlights: Buying a house vs. retiring early Delusional homeowner math and how to avoid it Why you should rent everything The benefits of using a financial advisor How reaching financial independence is different in Canada Why you should follow your dreams on the side

I just returned from a fantastic week at the annual Chautauqua event in Ecuador. This was my second Chautauqua and just like last year, it exceeded all expectations.  It’s amazing what can happen when you put a bunch of interesting, intelligent people in a gorgeous 17th century hacienda (located at the foot of an extinct volcano) for a week. At this year's event, an attendee named Alan gave an impromptu presentation about why and how you should start a business and since it fit perfectly with the week's other discussions about financial independence and happiness, I knew I had to get him on the podcast. Since leaving my job in August, I’ve realized how important it is to have something meaningful to work on to fill the void after leaving your career so I think creating your own business is something everyone should consider. A side business can not only help ease the transition to early retirement, it can reduce the pressure on your portfolio after you quit and it can even help you reach FI sooner so listen t

Want to know how two teachers were able to go from $0 net worth to retired in just 5 years? On today’s episode of the Financial Independence Podcast, Ali and Joe (a.k.a. Arebelspy) from Adventuring Along join me to talk about how investing in real estate supercharged their progress to early retirement. We not only dive into how they achieved financial independence in spectacular fashion but we also explore their equally impressive retirement so far. In the past year alone they have hiked the entire El Camino de Santiago, had a baby in Istanbul, Turkey, and published a romance novel! Highlights: Dollar-cost averaging into real estate How to purchase real estate in a place you’ve never visited Best books for real estate investors Grasping the concept of ‘enough’ Importance of challenging yourself after retirement (both mentally and physically) Cost of having a baby in Turkey How much money you can save by staying out of the United States

My podcast was hijacked! During this year’s financial blogger conference (a.k.a. FinCon) in San Diego, Mr. and Mrs. 1500 from 1500days.com took control of the Financial Independence Podcast and put me on the hot seat (a very hot seat, indeed)! You’ll remember that last year at this same conference, I recorded an in-person interview with the 1500s. Well, this year Mr. 1500 figured it’d be fun to turn the tables on me so he and Mrs. 1500 interviewed me for my own show. Sadly we only had 30 minutes to record, and the people on stage before us ran late, so this is a short but action-packed episode. Big thanks to Mr. and Mrs. 1500 for doing it and hope you enjoy it as much as I did! Highlights: What I was like as a child and what got me interested in money Details about my first job Why I started the Mad Fientist My path to financial independence and what it was like leaving my job The story behind my free Ivy League master’s degree What it was like to be on the front page of Yahoo.com Details of our 3-month trip

Today on the Financial Independence Podcast, Doug Nordman (a.k.a. Nords) from The Military Guide joins me to talk about how he achieved financial independence at the age of 41 by serving in the military! Doug retired way back in 2002 so we dive into how he dealt with the market crashes that occurred at various stages on his path to financial independence, what 14 years of retirement has been like, and how he’s found meaning outside of work. I know many of you enjoyed Doug’s wisdom and insights on the previous episode so check out today’s episode for his full story! Highlights: Thoughts on over 14 years of early retirement Details of his investing strategy and how it’s changed over the years Mistakes he made and lessons learned How to deal with market crashes when you’re still working, about to retire, and already retired What it’s like to live and work on a submarine Difference between pursuing FI as a military service member vs. a civilian What angel investing can teach you about investing and why it may be

Today on the Financial Independence Podcast, I’m excited to share a live Q&A session with Mr. Money Mustache, Paula Pant from Afford Anything, and Doug Nordman from The Military Guide! This panel discussion took place back in May at Camp Mustache — an annual retreat in the Pacific Northwest organized by Mr. Money Mustache readers. In this episode, you’ll not only hear about… Mr. Money Mustache’s biggest splurges The investing mistakes I still can’t seem to avoid Paula’s favorite thing about financial independence Doug’s suggestion for discovering the meaning of life …, but you’ll also get varied and diverse perspectives on some of the most important questions facing those on the path to financial independence and early retirement! Highlights: Top recommendations for people who are close to achieving financial independence How to stay motivated when pursuing FI What is the meaning of life How to foster a good online culture and community Tips and tricks to stop you from trying to time the market The big