Finding the Right Savings Rate for Your Family’s Financial Independence – with Scott Rieckens

When we’re pursuing financial independence, we need to discover the right savings rate for our family. This is something that Nicole and I have had a lot of conversations about. How much is too much to save? And how little is too little to save?

I invited Scott Rieckens on the show because he’s been on a very similar (big-screen, public) path with his wife, Taylor. Scott is a 2-time Emmy nominated filmmaker, Executive Producer, and Co-Star of a new documentary called Playing with FIRE. This is a documentary that uncovers the growing community of frugalists, mustachians and valuists choosing a path to financial independence and early retirement.

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How Not Buying a House Helped Us Become 30-Year Old Retired Millionaires – with Kristy Shen and Bryce Leung

The FIRE movement is getting a lot of buzz lately, especially with millennials.

Our guests today, Kristy Shen and Bryce Leung are leaders in the millennial revolution for FIRE.

Kristy and Bryce are Canada’s youngest retirees. They used to live in one of the most expensive cities in Canada, but instead of drowning in debt, they rejected home ownership. And what resulted was a 7-figure portfolio, which has allowed them to retire in their 30s and travel the world.

Their story has been featured in the New York Times, Forbes, Huffington Post, amongst many other publications. They’ve written a book on FIRE called Quit Like a Millionaire and it’s out this month.

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How We Decreased our Spending by $20,000 (While Increasing Our Fun by $10,000)

In order to achieve financial independence, you need to first understand what your annual expenses are. That’s how much money you need to live comfortably every year.

Your annual expenses can include things like housing, transportation, food, utility bills, entertainment, travel and the many other things that make your life … well, your life! 

For our family, I’ve found that number to range between $60,000 and $70,000 per year. That number is after taxes and it doesn’t include money for saving and investing. 

With lower annual expenses, it would definitely be a lot easier for our family to become financially independent.

If we’re using the 4% rule to calculate how much to save to become FI, then we’d need $1,500,000 – $1,750,000. Considering I have around $4,000 in a taxable brokerage account at 37 years old, that’s going to take quite a while!

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How to Find a Career You Love – with Ken Coleman

A recent Gallup poll suggests that 70% of American workers are not engaged in their jobs. They don’t like what they do, or changes within the organization have made it difficult to enjoy their days. But working is important, we need the income, we need the benefits. Most importantly, we need a purpose in life. How do we find a career we love?

I’ve invited Ken Coleman on the show today to help us figure that out. Ken is a career expert and national radio host of the Ken Coleman Show. Pulling from his own personal struggles, missed opportunities, and career successes, Ken helps people discover what they were born to do and provides practical steps to make their dream job a reality.

Ken’s latest book, The Proximity Principle, was a Wall Street Journal Best Seller and hits on this very subject.

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Eliminating Child Sexual Abuse From the Internet – with Sarah Potts from Thorn

For our “Be the Change” segment this month, we are featuring Thorn – an organization that is dedicated to eliminating child sex abuse from the internet.

I’ve invited the Lead of Marketing and Partnerships, Sarah Potts, to tell us more about this organization. We’re also going to discuss why this deplorable situation for children is on the rise and a lot of it is here in the United States.

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14 Pros and Cons of Real Estate Investing

Lately, I’ve been sharing our family’s interest in buying our first rental property. I’ve written articles, done at least a dozen podcast interviews on the subject and I’ve even looked at some houses with my wife Nicole. 

I’ve learned 1% rule, the 50% rule and how to analyze a deal. It’s been fun! 

During this whole time, I’ve been asking for people’s feedback, experience, and advice because I’m a complete newbie with real estate investing. 

One person who reached out to me recently was my friend Deniz. He shared his difficulty with real estate investing over the past 13 years. He’s had tenant issues, rent competition and overall, it’s been difficult as he’s moved out of DC and into the suburbs as a new father.

Our conversation made me want to get more perspectives, pros and cons of real estate investing. We’re considering making a $100,000+ investment. I want to make sure our family is making a smart move.

With that said, here are 13 additional pros and cons from former and current real estate investors:

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How to Invest in your 401k Easily – with Chris Costello from blooom

When I got my first 401k at work, it quickly realized that I had no idea what I was doing. There were more than a dozen fund options to choose from and I didn’t know what it was going to cost me to participate because there were so many hidden fees.

It made me want to give up right away … and I did. I thought, “This is too difficult and I can’t afford to invest for my retirement anyway.”

Years past and I missed out on some major growth for my retirement. It looks like my situation isn’t so different than most Americans given nearly half of them have less than $10,000 stashed away for retirement.

To help us solve this retirement conundrum, I invited the founder of blooom, Chris Costello, to tell us more about how their popular service is helping Americans save more money, time and heartache with the 401k process.

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How to Reach Your First $100,000 (in Salary, Business and Net Worth) – with Tori Dunlap

Do you want to reach $100,000? This could be in your salary, your small business revenue, and even your net worth.

To help us achieve these big milestones in our lives, I’ve invited Tori Dunlap to chat with us today.

Tori is a millennial money and career expert. Her career started with landing a digital marketing contract worth tens of thousands, and a full-time position as the head of marketing for a global company — all before she turned 22. On track to save $100,000 by 25, Tori founded Her First $100K to give women actionable resources to get their first six figures too.

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Why We’re Quitting Our Jobs and Moving to Hawaii (And Why You Shouldn’t) – with Erica Gellerman

There’s a movement taking place amongst our generation. A movement that says, “Don’t work at a job you hate just because it pays well.”.

Today, I interview someone who, after 14-years of working the corporate life, has decided to leave their full-time job in order to pursue a new life of purpose … in Hawaii.

Erica Gellerman is my guest today. She’s a marketing consultant and creator of The Worth Project, a personal finance newsletter, blog, and podcast. She writes and contributes to major publications like Forbes, Business Insider, and NerdWallet.

She’s also a mother to a 1-year old boy named Henry.

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How I Took My Salary from 5-Figures to 6-Figures in 7 Steps

I don’t know about you, but when I get a pay raise at work I feel incredible. I get a giant smile across my face because I feel like my hard work has finally been validated. All the extra hours, emails, phone calls, presentations and the unwavering commitment to my company’s success has (literally) paid off.

But it’s not as easy as just showing up to work one day and your boss calling you into his office to say “Hey, you! You’re getting a raise! Let’s party!” If only it were that easy, right?!

We have to work hard, put in the hours and follow the right steps.

I’ve only been working in the corporate world for 15 years so I know I still have a lot to learn. What I do know is what’s worked for me so far. Here are 7 important steps that have taken my career from 5-figures to 6-figures.

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