How to Achieve Financial Independence and Retire Early – with Deacon Hayes

Financial independence and early retirement are huge accomplishments. Like running a marathon, becoming debt free or losing 100 pounds, they require focus, patience and a whole lot of perseverance.

This monumental financial status allows you the freedom to do what you want when you want and have the location independence you desire.

Author Deacon Hayes joins me today to talk about his new book, You Can Retire Early! We’re gonna review the ins and outs of how each and every one of us has the opportunity win at the game of early retirement.

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7 Free Money Tools That Will Help You Build Wealth Today

Have you ever heard the saying, “You get what you pay for”?

This statement is essentially inferring that you if you want quality, then you’ll have to throw down some cash.

I used to believe that, but I don’t anymore. Over the last 7+ years, I’ve discovered more and more apps, tools and websites that have helped me on my journey to financial freedom. Most of my favorites have been completely free.

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Financial Peace University – Why I Coach It (Even Though I Don’t Believe in All of Dave Ramsey’s Principles)

When Nicole and I got married, we were young, in love and … in debt.

I had a luxury lease car, a mortgage balance more than the value of my home and nearly $30,000 in student loans.

Nicole only had a $20,000 car loan. Yeah, I married up.

Needless to say, we were prime candidates for Financial Peace University (FPU). This course was developed by Dave Ramsey, the best-selling author of the Total Money Makeover. The goal of FPU is to learn how to “dump debt, budget, build wealth and give like never before.”

Dave’s book, the course and daily radio show encouraged Nicole and I to live on a monthly budget for the last 7 years, pay off all of our debt and even eliminate our mortgage by age 35.

I’m very grateful for everything I learned from Dave and his team. For that reason, I wanted to give back and pay it forward to others by coordinating Financial Peace University classes … even though I didn’t exactly agree with all of Dave’s teachings.

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Why I Did A 401k Rollover After Leaving My Job (and How I Did It)

In 2014, my wife Nicole and I both started new careers. She moved from corporate recruiting into the role of Stay-at-Home Mom when our son Calvin was born. I moved to a new marketing agency to advance my career in account management.

After Nicole and I partnered together to pay off all of our debt, this single income life was something we were prepared for. It wasn’t an easy financial change, but it was completely worth it in our opinion.

With those new role changes we not only left old jobs behind, but we also left old 401k accounts behind as well. Since we both had been at our previous jobs for a while, the idea of rolling over our 401k accounts was new to us. We heard that we were definitely “supposed to” do the rollover immediately, but we didn’t really know why.

Following the “supposed to” advice, I decided to move forward with rolling over both of our 401k accounts into IRAs.

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How to Consistently Save $85,000 Per Year – with Jamila Souffrant

When a goal-oriented person discovers the excitement and allure of financial independence, there is little that can stop them from reaching this huge milestone.

The intensity and results are multiplied when you have a married couple with a combined six-figure income working toward the same goal. This is a recipe for skyrocketing the net worth and savings.

To demonstrate this type of savings superpower, I’ve invited Jamila Souffrant on the show today. In 2016, she and her husband partnered together to save over $85,000 in just 12 short months.

And then … they did it again in 2017.  

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How Early Retirement Can Enhance Your Marriage – with Tanja Hester & Mark Bunge

If you’ve been married and working full-time for a while, you know the importance of quality time spent with your spouse. This is a chance to catch up, to talk about fun memories and make new ones together.

Unfortunately, our busy careers can make these quality get-togethers really difficult most days. There are late nights at work, deadlines and out-of-town trips. But … 

  • What if you woke up on Monday morning and you didn’t have to go into the office?
  • What if there were no more business trips and no more work-related deadlines?
  • How would that enhance your relationship with your spouse?

To answer these questions, I’ve invited Tanja Hester and Mark Bunge on the show today. After 10 years of marriage and 6 years of diligent savings, this young couple decided to retire from their busy careers in late 2017 and give more time to their marriage.

At 38 and 41, Tanja and Mark have regained the best years of their lives. As early retirees, they are pursuing their passion for the outdoors, travel and spending more quality time together.

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How I Wasted Over $13,000 Refinancing My Mortgage

In 2004, my first mortgage was a 30-year 5/1 ARM at 5.25%. If that information confuses you, don’t worry. I was completely confused too when I signed up for it at 22 years old.

I didn’t care though. After saving up $20,000, I was thrilled to put that money into my first house down payment. I was proud to be a homeowner.

That’s what we’re supposed to do, right? Buy a home so we’re not wasting our money on rent?

Well, homeownership can be a smart move for some, but not the way I did it. I made two mistakes right away with my first home:

  1. Signing up for a mortgage that I didn’t understand
  2. Committing to homeownership costs that I could not afford

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10 Pillars of Financial Independence – with Jonathan Mendonsa

Popularized by extreme frugality rock stars like Mr. Money Mustache, the Mad Fientist and Jacob from Early Retirement Extreme, the Financial Independence or FIRE community has grown in popularity over the past 5-10 years.

This is a subset of the personal finance world that encourages earning a solid income early in your life, saving a boat load of cash and retiring earlier than most of your peers.

For a frugal guy like me, this concept makes a ton of sense. Work hard, save and invest early so you can enjoy the majority of your life doing what you love.

But what happens when you’ve retired early? You still need something. You need a purpose or a goal to work toward.

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How to Increase Your Net Worth by $700,000 in 7 Years

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 six-figure income together 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!

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We walked upstairs and started to write down all of our numbers on a big white board. 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.

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How to Build Your Credit Without a Credit Card – with Whitney Hansen

Without the right discipline, credit cards can cripple our ability to build our cash savings, our retirement savings and our overall wealth. It’s so easy to swipe that little piece of plastic without even thinking twice about how much money we actually have in our checking account.

My guest today, Whitney Hansen, has developed a business that helps people battle the temptations of the all-powerful credit card. After becoming completely debt free early in her life, she now supports others in doing the same.  For most people, that journey to debt freedom starts with their relationship with credit.

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