There’s more to life than working and paying bills. If you’re like most people, you dream of a week filled with more time and more freedom. That’s why a growing number of people are joining the FIRE movement. Here’s a crash course on the pros and cons of financial independence, as well as some insight into how our family is pursuing FIRE.Continue reading “FIRE Movement: Pros and Cons of Pursuing Financial Independence”
Adam from Tampa is skeptical about working with a financial advisor and wants to know how to invest on his own.
I have a hard question for you.
For most of my life, I have been told what to do with my money. I had a family member work for Morgan Stanley and he invested for us for years.
Last year, we had some issues within the family and decided to part ways. My wife and I quickly decided to go with another guy who does good but the last email was life insurance focused.
The main question is I want to handle all of this on my own. I feel like I can’t teach my kids what is best without knowing. Any advice?Continue reading “Investing On Your Own Without a Financial Advisor”
Being neck-deep in debt can make you feel like all the odds are stacked against you, especially when you reach almost the seven figures!
Today, Andy talks to Wendy Mays on how her family is climbing out of nearly $1,000,000 of student loans, home mortgages, car loans, and other consumer debt. Wendy is the host of the House of FI podcast, a part-time work-from-home lawyer and a mother to six children.
We talk about how she and her husband accumulated their debt, the turning point that led them to fix their situation and their progress on their journey to financial independence so far.Continue reading “Climbing Out Of $1,000,000 of Debt to Achieve Financial Independence – with Wendy Mays”
One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?
One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined annual income of $130,000 so we figured our net worth must be HUGE.
After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!
We walked upstairs and started to write down all of our numbers on a big whiteboard. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.
We were kinda broke.Continue reading “How to Increase Your Net Worth by $900,000 in 9 Years”
Americans are currently carrying $1.5 trillion worth of student loan debt. That number reflects a monumental financial burden and a serious emotional one too. Many people find themselves battling poor sleep and anxiety while feeling trapped by their debt. Fortunately, some people have conquered their debt, offering hope for the rest of us.
Today, Andy chats with Okeoma Moronu, a corporate finance attorney who also is the host of The Happy Lawyer Project and the author of the new book series called Money Monsters. She and her husband were once buried under a massive mountain of student loan, and they’ve successfully found their way out.
We’ll explore how they accumulated their debt, strategies they used to combat debt, and advice she has for other families carrying debt. Here’s her story of how her family paid off over $300,000 in student loans.Continue reading “How We Paid Off $300,000 of Student Loans in 6 Years – with Okeoma Moronu”
A lot of us have had this moment in our lives: we become parents and we want less time working and more time with family, but the income is just not there to support it.
Today, we talk with someone who has developed enough passive income to spend less time on work and more time raising his son. Sam Dogen is the writer behind Financial Samurai, a blog and podcast dedicated to slicing through money’s mysteries.
He is a regular contributor to CNBC and he’s been featured in major publications like MarketWatch, Business Insider, and Forbes. When he’s not writing or talking about money, he likes coaching and playing tennis and enjoying delicious food in San Francisco with his wife and young son.
We dive deep into why he got into passive income, the methods he used to get started and his life as a stay at home Dad.Continue reading “How This Stay-at-Home Dad Makes $200,000 Per Year in Passive Income – with Sam Dogen”
Tomorrow will be my last day at my job.
After 15 years of working as an event marketing professional, I’ve decided that I’m ready for a new chapter in my life.
The companies I’ve had the pleasure of working with have treated me well, given my family benefits and paid me generously. I sincerely appreciate the opportunities I’ve been given. It’s just time for me to follow a new calling.Continue reading “10 Steps I Took to Leave My Six-Figure Job and Become an Entrepreneur”
Sometimes, hustling to make more money is not the answer.
Today, Andy talks to Jacob and Michelle Wade, who recently took a “year off” with their family of five. Jacob is a former sales professional and the blogger behind iHeartBudgets and Michelle is a stay at home Mom raising and road schooling their three children.
They sold their home and all of their possessions and hit the road in an RV in the summer of 2018.
Our guests will be telling us why they took the leap and left their daily grind, how they planned their sabbatical and how they’re educating their children on the road.Continue reading “How I Quit My Six-Figure Job and Took A Year Off – with Michelle and Jacob Wade”
The FIRE movement (Financial Independence, Retire Early), has become a wildly popular concept over the last decade, but it’s also become wildly controversial.
Today, Andy talks with Lisa Harrison, the writer and podcast host behind Mad Money Monster. She’s had her story featured on major media outlets like Yahoo Finance, MarketWatch, and Forbes. She started off in love with the FIRE movement and idea of early retirement but then had a change of heart.
We’ll be diving into how she discovered FIRE, what changes she made to her lifestyle and what caused her to abandon the idea of early retirement altogether.Continue reading “Why I Stopped Pursuing FIRE and Early Retirement for a Happier Life Today – with Lisa Harrison”
There comes a point in a parent’s life when they want to own more of their time and spend it with the ones they love the most, but financially, it’s not always the easiest to accomplish.
Chris Mamula is my guest today. He faced this challenge when he became a new father and used his high savings rate and passion for his young family to achieve financial independence and retire at age 41.
Chris is the award-winning blogger behind Can I Retire Yet? A blog focused on helping others navigate financial independence and early retirement. He’s also the author of the new book, Choose FI: Your Blueprint to Financial Independence.Continue reading “How Becoming a Parent Helped Me Retire at 41 – with Chris Mamula”