Fire Drill

Plan A is life. Financial independence in plan B. Do you agree with this statement?

Today we have Doc G - a physician who reached FI before realising what he'd done. He then discovered the FI community and now focuses on the philosophical aspect of FI: finding your purpose, the importance of being employed and fulfilling your identity.

You'll love his story.

We also chat about...

The emotional aspect of FI

How he reached FI and discovered the community

His blogging journey

The amazing influence of the community

Why he loves what he's currently working on

Enjoy this chat with Doc G, and please subscribe to us in iTunes if you enjoyed it!

 

Show notes and links from today's episode

Doc G's blog: DiverseFI

Doc G on Facebook and Twitter

Episode: White Coat Investor

Key takeaways from our chat with Doc G

1 - FI is a huge part of our identity

Doc G explains how he felt when he realised he had reached FI: depressed for several months. This was because he realised that he no longer enjoyed his job, and quitting and being FI meant losing that identity as a physician. When you spend years working in one job, of course it becomes part of your identity. Reaching FI and quitting means you lose that identity - which can be very hard to accept.

Doc G also explains how FI in itself can also become a huge part of your identity; you can get so involved in the goal that you forget that FI is 'supposed to be a plan B'.

2 - Life is Plan A, FI is Plan B

What does Doc G mean when he says this? Basically he means that best case scenario you get a job that you love and want to dedicate your life to. This is what you want to be aiming for. Plan B is FI - if you get a job you dislike and don't want to do forever, then FI is your 'escape hatch'.

This is what Doc G is doing now (also called FIOR, Financial Independence Optional Retirement), where he works 10-15 hours a week and devotes all his free time to his passion of writing, communicating and speaking.

3 - The FI community is life changing

Anyone who's part of the FI community know how amazingly supportive it is. Doc G and Gwen talk about how they felt always out of place in school, work, college, etc. The FI community is a place where everyone is welcome and extremely supportive, and where people keep pushing you to become a better person, improve your life and lifestyle. As Doc G says, FI is irrelevant if you always know how to make money, what makes the difference is the community.

Questions? Like or dislike? Leave us a comment!

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Have you ever thought of taking the leap to becoming an entrepreneur?

Today we talk to PT Money, a well known in figure in the personal finance community. He manages his own blog as well as organises FinCon, the amazing annual personal finance event. He tells us how he got started as an entrepreneur, his plans for the future and his real estate experience.

You'll love his story.

We also chat about...

How PT Money got started with entrepreneurship

How he got his wife on board with quitting his job

How the FIRE movement has developed

His future plans

Lessons learnt in real estate

For show notes and takeaways: https://www.firedrillpodcast.com/from-cpa-to-entrepreneur-pt-money

Have you ever thought of taking the leap to becoming an entrepreneur?

Today we talk to PT Money, a well known in figure in the personal finance community. He manages his own blog as well as organises FinCon, the amazing annual personal finance event. He tells us how he got started as an entrepreneur, his plans for the future and his real estate experience.

You'll love his story.

We also chat about...

How PT Money got started with entrepreneurship

How he got his wife on board with quitting his job

How the FIRE movement has developed

His future plans

Lessons learnt in real estate

For show notes and takeaways: https://www.firedrillpodcast.com/from-cpa-to-entrepreneur-pt-money

How do you and your partner discuss money? Do you have a monthly budget meetup? Or is only one in charge of the money?

Kine Corder is a financial planning couple coach. She set up Prosperity Club, where she helps couples talk about their ideas of prosperity, their financial goals and how to find the best connection for them. This episode is packed with a ton of actionable advice!

You'll love how intriguing her story is.

We also chat about...

How Kine got interested in money and relationships

The recurrent and main theme in a relationship with money

How to put her advice into practice

Advice for partners reaching FIRE

Success stories

For show notes and takeaways: https://www.firedrillpodcast.com/talking-prosperity-and-money-with-your-partner-kine-corder

How do you and your partner discuss money? Do you have a monthly budget meetup? Or is only one in charge of the money?

Kine Corder is a financial planning couple coach. She set up Prosperity Club, where she helps couples talk about their ideas of prosperity, their financial goals and how to find the best connection for them. This episode is packed with a ton of actionable advice!

You'll love how intriguing her story is.

We also chat about...

How Kine got interested in money and relationships

The recurrent and main theme in a relationship with money

How to put her advice into practice

Advice for partners reaching FIRE

Success stories

For show notes and takeaways: https://www.firedrillpodcast.com/talking-prosperity-and-money-with-your-partner-kine-corder

Have you ever thought of building your own home?

Today we're excited to be interviewing Mr Groovy, who retired in 2016 and is now building his very own 'Groovy ranch' in North Carolina. We explore something called 'domestic geoarbitrage'.

You'll love his story.

We also chat about...

What he's been doing since he retired

Why he chose to live in rural America

The process of building a house

Tips for the baby boom generation

For show notes and takeaways: https://www.firedrillpodcast.com/build-your-own-home-mr-groovy

Have you ever thought of building your own home?

Today we're excited to be interviewing Mr Groovy, who retired in 2016 and is now building his very own 'Groovy ranch' in North Carolina. We explore something called 'domestic geoarbitrage'.

You'll love his story.

We also chat about...

What he's been doing since he retired

Why he chose to live in rural America

The process of building a house

Tips for the baby boom generation

For show notes and takeaways: https://www.firedrillpodcast.com/build-your-own-home-mr-groovy

What if you could retire at 37? That's exactly what Chris Reining did.

Chris Reining retired at the age of 37 after working in cyber security for over 10 years. He slowly increased his savings rate, made sure to keep his expenses low and invest in index funds and a few stocks. Classic FI strategy, and now he gets to do pretty much what he wants.

You'll love his story.

We also chat about...

The difficulties of quitting your job

The importance of focusing on your income increase

Deciding what's best for health insurance

The misconceptions about FIRE

Chris' last two years as financially independent

For show notes and takeaways: https://www.firedrillpodcast.com/retiring-at-37-chris-reining

What if you could retire at 37? That's exactly what Chris Reining did.

Chris Reining retired at the age of 37 after working in cyber security for over 10 years. He slowly increased his savings rate, made sure to keep his expenses low and invest in index funds and a few stocks. Classic FI strategy, and now he gets to do pretty much what he wants.

You'll love his story.

We also chat about...

The difficulties of quitting your job

The importance of focusing on your income increase

Deciding what's best for health insurance

The misconceptions about FIRE

Chris' last two years as financially independent

For show notes and takeaways: https://www.firedrillpodcast.com/retiring-at-37-chris-reining

What does your scarcity mindset look like?

Today Gwen interviews JD Roth live at FinCon! JD started blogging over 20 years ago, and started his personal finance blog in 2005. He explains what growing up poor taught him about money and how he manages his temptations nowadays.

You'll love how real his story is.

We also chat about...

How JD discovered FI

Why buying an old house and repairing it is expensive

How he controls his spending habits

His scarcity mindset and what it means for him

For takeaways and show notes: https://www.firedrillpodcast.com/managing-the-scarcity-mindset-jd-roth