The FI Guys

076: How to Achieve Income Independence w/ Steve Selengut


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In this episode, we sit down with Steve Selengut, author of Retirement Money Secrets, to uncover powerful strategies for achieving income independence and securing your financial future. Steve dives deep into:

👉 The critical difference between income independence and financial independence
👉 How closed-end funds can be a game-changer for building sustainable income
👉 Key mindset shifts to adopt for lasting financial security
👉 The top mistakes younger generations make when planning for retirement
👉 Actionable steps you can take today to achieve your retirement income goals

Learn how to adopt these principles early on and pave the way for a worry-free financial future.


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⏰ Timecodes ⏰

00:00 Secrets to a Lasting Marriage

02:08 Inspiration Behind Retirement Money Secrets

04:50 Lessons from a Financial Journey

13:08 Understanding Closed-End Funds

18:11 The Shift from Mutual Funds to Closed-End Funds

21:58 Profit Taking vs. Market Timing

26:56 The Evolution of Market Indices

28:51 Income Independence vs. Financial Independence

32:23 Key Mindset Shifts for Income Independence

35:49 Common Mistakes in Pursuing Income Independence

37:37 Building a Strong Financial Foundation

42:36 Adapting Strategies for Younger Generations

44:47 Time Commitment for Implementing Strategies

48:03 The Role of Financial Advisors

52:20 Actionable Steps Towards Income Independence

55:51 Defining Financial Independence


#retirementplanning Income #retirementplanning #financialsecurity

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Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/

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