Building Wealth, Engineering a Layoff and Living Life on Your Own Terms with the Financial Samurai

#75: Financial Samurai and bestselling author, Sam Dogen, joins Chris to discuss ways to maximize wealth-building and live life on your own terms. They cover Sam’s 70/30 rule for decision making, how Sam engineered his own layoff and the principles you can use to do it yourself, how real estate can be a significant source of passive income, and why we should all consider having our own online real estate, small business, or side hustle.

Sam Dogen (@financialsamura) engineered his own layoff after working for 13 years in corporate america and created Financial Samarai, one of the largest independently-owned personal finance sites in the world. His Wall Street Journal bestselling book is Buy This, Not That: How to Spend Your Way to Wealth and Freedom.

Full show notes at: https://allthehacks.com/financial-samurai-sam-dogen

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Resources Mentioned

Connect with Sam Dogen: Financial Samurai | Twitter

Sam Dogen’s Books:

Buy This, Not That: How to Spend Your Way to Wealth and Freedom

How To Engineer Your Layoff

Resources Mentioned: 

Pacaso

Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts

Podcasts Mentioned:

All the Hacks #19: Becoming a Better Investor with Andy Rachleff

Travel Recommendations:

Malaysia

Kuala Lumpur

National Palace

Batu Caves

Pulaus

Penang

Redang Island

The Taaras Beach & Spa Resort

Angkor Wat, Cambodia

Southeast Asia

Majorca, Spain

Amsterdam

Full Show Notes

(1:43) The Point of Financial Optimizations: Why Money Isn't the End Goal

(3:30) Engineering a Layoff and Choosing an Alternate Career Path

(5:53) Negotiating Severance Pay and Differentiating Between the WARN Act and Severance

(12:36) Sam Shares the Core Principle He’s Held Since Middle School

(14:19) Thinking in Probabilities and Not Absolutes: Sam’s 70/30 Rule

(20:15) Earning Passive Income with Real Estate in Your Portfolio

(26:59) Choosing an Adjustable-Rate Mortgage for Sensible Reasons

(33:04) Strategies for Successful Vacation Property Purchases and Lessons in Income Forecasting

(36:34) Establishing Your Presence Online in Real Estate

(38:27) Venture Capital Demystified: Understanding VC and How It Works

(45:12) Personal, Financial, and Tax Benefits of Running a Business

(48:24) Selecting a Retirement Plan and Health Insurance as a Business Owner

(52:21) Navigating Finances When Including a Partner in Your Business

(54:33) Reasons for Residing in High-Income Tax Areas

(57:58) Sam's Travel Recommendations

(59:35) Exploring Malaysia: What to See and Do

(1:01:13) Chris's ATM Misadventure During His Backpacking Trip in Malaysia

(1:02:48) Contributing to Your Child’s 529 College Savings Plan

(1:05:05) Choosing Between Public and Private Education Routes

(1:07:43) Where to Find Sam Dogen Online

Connect with All the Hacks

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