Financial Independence Podcast

Later this year, at the ages of 38 and 41, the couple behind OurNextLife.com will be quitting the stressful, time-consuming jobs that they've held for most of their adult lives and will be retiring to a life in the mountains.

This is particularly interesting to me because one of my dreams is to live on the side of the mountain and get a part-time ski patrol job. Because really, what could be better than waking up early after a big snowfall, grabbing a cup of coffee with your buddies, then strapping on your skis and heading up the mountain to throw bombs and trigger avalanches?

Join me for a Financial Independence Podcast interview with Ms. ONL to hear all about this exciting transition to the mountains and to find out what their next life has in store for them!

Highlights:

• What to do if you're not naturally frugal
• Why you should gradually trim your expenses if your spending is high
• The risk of losing your identity when leaving a long-term, time-consuming job
• Finding meaning after early retirement
• Using your money to help out your family
• What it's like living in a ski town
• The additional costs of mountain life
• How to transition from the big city to the mountains
• Preparing for the two phases of early retirement

After delivering an epic guest post on the tax advantages of investing in real estate, I asked Chad Carson from CoachCarson.com to join me on the podcast to hear more about his own experiences with real estate investing.

Chad started with only $1,000 in the bank and was able to build up a real estate empire that now consists of over 90 units!

It's an incredible story of hard work, intelligent money management, and perseverance so listen to find out how he did it. And if you've ever wanted to know what it felt like to be a full-time real estate investor when the entire housing market collapsed in 2008, hear how Chad survived despite making over 50 acquisitions in 2007 alone!

Highlights:

• How to get started in real estate with no money
• What is 'bird dogging'?
• Why you should invest in something that's simple and understandable
• The numerous ways to finance real estate purchases
• What it was like to survive the financial crisis as a real estate investor after making 50+ acquisitions in 2007
• The importance of having a cash reserve
• Why you should house hack or do a live-in flip if you want to retire early
• What Chad would do if he was starting again and wanted to reach financial independence as quickly as possible
• Why you need to be cautious when considering passive real estate investing options
• How buying real estate to live in is much different than buying real estate as an investment

On today's episode of the Financial Independence Podcast, Gwen from Fiery Millennials and Julie from Millennial Boss join me to talk about millennial finances and what young people should do to reach financial independence as quickly as possible!

Highlights:

• Thoughts on Chautauqua and Camp Mustache (including the awful financial advice Julie received in Ecuador)
• How Gwen landed her dream job and how Julie increased her income by 600% in 5 years
• The benefits of starting your own blog
• Why Gwen is the real-life Guinea Pig
• How to get a college degree for free (or as cheaply as possible)
• Why everyone should have a side hustle
• How to negotiate a higher salary (including Julie's story of how she earned an additional $80,000 by negotiating!)
• What to do if you already have an inflated lifestyle

On today's episode of the Financial Independence Podcast, I interview my wife, Jill!

It took a lot of persuading to get her on the show but I'm glad she agreed because her perspective is very different from mine so it was interesting to hear her thoughts on financial independence, early retirement, and this unconventional life we lead!

Highlights:

• When my wife found out I was a weirdo with money
• My lowest point as a cheapskate
• Why Jill and I kept our finances separate
• The importance of figuring out your perfect life
• How to get your spouse on board with FI
• Why you should start small when trying new things
• What I do that annoys my wife most

Joining me on today's episode of the Financial Independence Podcast are FIRECracker (Kristy) and Wanderer (Bryce) from Millennial Revolution!

Kristy and Bryce exploded onto the scene after a video clip of them attacking the religion of homeownership went viral (it is now the most-viewed and most-shared video on CBC.ca, Canada's largest news website).

During our interview, we dive into the viral video, explore why they believe buying a home is usually a terrible idea, and find out what they've been up to after retiring in their early 30s!

Highlights:

• Buying a house vs. retiring early
• Delusional homeowner math and how to avoid it
• Why you should rent everything
• The benefits of using a financial advisor
• How reaching financial independence is different in Canada
• Why you should follow your dreams on the side

I just returned from a fantastic week at the annual Chautauqua event in Ecuador.

This was my second Chautauqua and just like last year, it exceeded all expectations.

At this year's event, an attendee named Alan gave an impromptu presentation about why and how you should start a business and since it fit perfectly with the week's other discussions about financial independence and happiness, I knew I had to get him on the podcast.

Since leaving my job in August, I've realized how important it is to have something meaningful to work on to fill the void after leaving your career so I think creating your own business is something everyone should consider.

A side business can not only help ease the transition to early retirement, it can reduce the pressure on your portfolio after you quit and it can even help you reach FI sooner so listen to today's episode to find out the right way to get started!

Highlights:

• Takeaways and surprises from the Chautauqua in Ecuador
• Why you should do work you love
• How NOT to start a business
• Why entrepreneurship doesn't have to be risky
• How to start a business for free
• The importance of selling your value before you create it
• Why you need to just get started

Want to know how two teachers were able to go from $0 net worth to retired in just 5 years?

On today's episode of the Financial Independence Podcast, Ali and Joe (a.k.a. Arebelspy) from Adventuring Along join me to talk about how investing in real estate supercharged their progress to early retirement.

We not only dive into how they achieved financial independence in spectacular fashion but we also explore their equally impressive retirement so far. In the past year alone they have hiked the entire El Camino de Santiago, had a baby in Istanbul, Turkey, and published a romance novel!

Highlights:

• Dollar-cost averaging into real estate
• How to purchase real estate in a place you've never visited
• Best books for real estate investors
• Grasping the concept of 'enough'
• Importance of challenging yourself after retirement (both mentally and physically)
• Cost of having a baby in Turkey
• How much money you can save by staying out of the United States

My podcast was hijacked!

During this year's financial blogger conference (a.k.a. FinCon) in San Diego, Mr. and Mrs. 1500 from 1500days.com took control of the Financial Independence Podcast and put me on the hot seat (a very hot seat, indeed)!

You'll remember that last year at this same conference, I recorded an in-person interview with the 1500s. Well, this year Mr. 1500 figured it'd be fun to turn the tables on me so he and Mrs. 1500 interviewed me for my own show.

Sadly we only had 30 minutes to record, and the people on stage before us ran late, so this is a short but action-packed episode.

Big thanks to Mr. and Mrs. 1500 for doing it and hope you enjoy it as much as I did!

Highlights:

• What I was like as a child and what got me interested in money
• Details about my first job
• Why I started the Mad Fientist
• My path to financial independence and what it was like leaving my job
• The story behind my free Ivy League master's degree
• What it was like to be on the front page of Yahoo.com
• Details of our 3-month trip around the world
• Why my wife is gross :)

Today on the Financial Independence Podcast, Doug Nordman (a.k.a. Nords) from The Military Guide joins me to talk about how he achieved financial independence at the age of 41 by serving in the military!

Doug retired way back in 2002 so we dive into how he dealt with the market crashes that occurred at various stages on his path to financial independence, what 14 years of retirement has been like, and how he's found meaning outside of work.

I know many of you enjoyed Doug's wisdom and insights on the previous episode so check out today's episode for his full story!

Highlights:

• Thoughts on over 14 years of early retirement
• Details of his investing strategy and how it's changed over the years
• Mistakes he made and lessons learned
• How to deal with market crashes when you're still working, about to retire, and already retired
• What it's like to live and work on a submarine
• Difference between pursuing FI as a military service member vs. a civilian
• What angel investing can teach you about investing and why it may be the best way to give away your money

Today on the Financial Independence Podcast, I'm excited to share a live Q&A session with Mr. Money Mustache, Paula Pant from Afford Anything, and Doug Nordman from The Military Guide!

This panel discussion took place back in May at Camp Mustache — an annual retreat in the Pacific Northwest organized by Mr. Money Mustache readers.

In this episode, you'll not only hear about…

• Mr. Money Mustache's biggest splurges
• The investing mistakes I still can't seem to avoid
• Paula's favorite thing about financial independence
• Doug's suggestion for discovering the meaning of life

…, but you'll also get varied and diverse perspectives on some of the most important questions facing those on the path to financial independence and early retirement!

Highlights:

• Top recommendations for people who are close to achieving financial independence
• How to stay motivated when pursuing FI
• What is the meaning of life
• How to foster a good online culture and community
• Tips and tricks to stop you from trying to time the market
• The biggest challenges of reaching FI and how to overcome them
• What we splurge on and why
• Mr. Money Mustache's thoughts on being featured in the New Yorker
• How to handle changes in your relationships after reaching FI