The Financial Independence Show

By Cody Berman and Justin TaylorBusiness Entrepreneurship Investing Careers

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The Financial Independence Show episodes

May 31, 2023 Entrepreneur vs. Employee Path to FI (Mad Fientist Replay)
We (Cody and Justin) have both achieved financial independence through drastically different paths.
This episode was a takeover episode for The Mad Fientist's podcast where we break down the similarities and differences between an employee's path (Justin) and an entrepreneur's path (Cody) to FI!
Highlights:
Live-in flip vs. house hacking
The sweet spot for buying used cars
Why focusing on fixed expenses is important
How to 5x your corporate income
The unlimited upside of entrepreneurship
How to get started investing if you're scared/nervous
Nest-egging vs. cash-flowing your way to financial independence
The benefits of a Solo-401(k) for entrepreneurs
Why the corporate world is great for certain types of people
Benefits and downsides of entrepreneurship
Why it's important to not keep up with the FI Joneses either
If you got value out of this episode, please share it with a friend!
Links From the Episode
The Mad Fientist's Podcast
Our Mega Backdoor Roth Episode
The Mad Fientist's Mega Backdoor Roth Article
Mad Fientist's Twitter
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
42 min
May 24, 2023 Diversification, Inflation, and The Economy | Marko Zlatic
Today, we're lucky enough to bring you Marko Zlatic from WhiteBoard Finance.
Marko grew up in a middle-class household raised by immigrant parents and is completely self-taught when it comes to money, investing, and financial literacy.
His investing journey began when he started flipping Pokemon cards and selling mixtape CDs as a kid.
He then graduated to invest in stocks at 18 years old.
In December 2010, Marko graduated with a Bachelor's degree in Finance and started working full-time.
After working in tech startups, commercial real estate, and publicly traded banks, he decided to start his YouTube channel, WhiteBoard Finance, in November 2017.
Marko walks us through his personal portfolio allocation, tips for building your own diversified portfolio, and lots of terrible advice to watch out for online.
He also gives us his take on the current state of the economy as well as his insights on how Bitcoin could factor into all of this.
If you enjoyed Marko's story then check out the links below for more content and don't forget to share this episode with a friend!
Links From the Episode
Whiteboard Finance YouTube
Marko's Instagram
Marko's Twitter
The Bullish Case for Bitcoin
Inventing Bitcoin
The Bitcoin Standard
YouTube Interview
https://youtu.be/lzeMhthfg9g
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
54 min
May 17, 2023 Making Over $1 Million with One Property | Patrick McGrath
Patrick McGrath, one half of the dynamic duo known as The Rental Property Couple, is a successful real estate investor, entrepreneur, and co-host of the popular podcast, The Real FI Podcast.
Alongside his partner, Patrick has built an impressive rental property portfolio in just 5 years that totals over $5M.
He began his portfolio with a humble single-family rental property.
Dedicated to achieving financial independence, he expanded his portfolio of rental properties, adding a triplex, quadplex, 6-unit, 7-unit, and 10-unit building.
Today, Patrick and his partner own 35 rental properties, each contributing to their remarkable success.
With this portfolio, Patrick was able to quit his successful career as a regional sales manager two years ago, fully dedicating himself to growing his real estate business.
This decision further cemented his commitment to financial freedom and allowed him to focus 100% on expanding his investment empire.
From property acquisition strategies to effective management techniques, Patrick's insightful content has become a valuable resource for those looking to build wealth and achieve financial freedom through real estate investing.
If you enjoyed this episode or maybe know someone who would be inspired by Patrick's story, share this episode with your network!
Links From the Episode
The Real FI Podcast
The Rental Property Couple (Instagram)
The Real FI Podcast - YouTube Channel
YouTube Interview
https://youtu.be/VQDa5zVPdH8
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
51 min
May 10, 2023 The House Buying Checklist (What We Wish We Knew)
We've interviewed countless people on buying real estate, but that didn't mean we were prepared when we purchased our first properties.
The reality is that people who have purchased a lot of real estate tend to skip past some of those tiny details.
This episode is meant to slow down and cover all those details that a first-time home buyer needs to remember.
In this episode, we cover:
Understanding how much you can afford
Setting your housing criteria
Understanding fair market value
Getting approved for a loan
Building the right team
Touring properties
Getting an offer accepted
Closing on the home
Post-closing checklist
We hope this is an episode you can always refer back to when you get ready for that first home purchase so you don't get surprised like we did.
If you got value out of this episode, please share it with a friend!
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
45 min
May 03, 2023 Avoiding Financial Disaster from Divorce | Tracy Coenen
If you find yourself in the unfortunate reality that your marriage isn't going to work out, do you know how to ensure you'll exit the relationship fairly from a financial perspective?
Or maybe you want some tools to help you avoid this situation in the first place.
In this episode, Tracy Coenen, author of Find Me The Money, walks us through the ins and outs of financial protections you need to know involving the topic of divorce.
We cover
Money conversations
Financial accounts
Prenups
Postnups
Asset valuation
Financial infidelity
And more including some tactical tips and strategies.
The topic of divorce is never fun, you'll feel better knowing this information if that day ever comes.
If you enjoyed this episode or maybe know someone who could use the expertise Tracy brought us today, share this episode with your network!
Links From the Episode
Tracy's company, Fraud Coach
Tracy's new book, Find Me The Money
Tracy's LinkedIn
YouTube Interview
https://youtu.be/a2sQPw1VInU
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
53 min
April 26, 2023 Building, Buying, and Selling Websites | Chelsea Clarke
We say web address but why don't we think about sites more like physical addresses we might own in a real estate portfolio?
Chelsea Clarke joins us today to show us just how powerful digital real estate can be (aka websites).
Back in 2012, Chelsea was laid off from her corporate marketing job unexpectedly. This experience taught her that being an employee was too risky. So she set out to take responsibility for her own wealth and became an entrepreneur.
She was determined to never have to return to working for anyone else again and launched HerPaperRoute as a way to share marketing and growth-hacking resources for other niche site investors.
In 2019, she'd go on to create an online marketplace for buying/selling websites at Niche Investor.
Chelsea found her niche and doubled down. She took a large but calculated risk and went all in on herself and building out this digital portfolio.
If you enjoyed this episode or maybe know someone who could use guidance in building their site or a jumpstart by purchasing an established site, share this episode with your network!
Links From the Episode
Her Paper Route
Niche Investor <- Website Marketplace
Chelsea's Instagram
Chelsea's TikTok
YouTube Interview
https://youtu.be/4KgowoA8It8
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
50 min
April 19, 2023 Building Wealth on a Dime | Kimberly Hamilton
How do you map out your path to financial independence?
And how can you find a persona you resonate with to mimic?
Kimberly joins us today to provide answers to both of those questions.
She created Beworth Finance and wrote Building Wealth on a Dime, to help empower everyone to find financial independence even if they're starting small.
Kimberly hasn't always had her money figured out though.
She moved to Washington, DC making $15/hour in 2012 and more student debt than she made in an entire year.
This led to a lot of time being stressed about money.
But through that process, she perfected a system that allowed her to pay off over $45,000 worth of student debt in three years, double her income in four, and buy her first home, before her 30th birthday, in five.
Fast forward to today, and she's currently on track to be work-optional by age 45.
Grab the link to her book below where you can learn things like:
Six million-dollar habits
Money mindset
Building a budget
Tackling debt
Investing
Renting vs buying
and much more
If you have someone in your life who could use some help mapping out their path to financial independence, share this episode with them!
Links From the Episode
Beworth Finance
Build Wealth on a Dime <- Her Book
Kimberly's Instagram
Kimberly's Email
YouTube Interview
https://youtu.be/8yV2tMnSxAM
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
49 min
April 12, 2023 $100 on Groceries … Per Month
Spending too much on groceries each month?
In this episode, Cody interviews Justin about his $107/mo grocery bill.
For many years this number floated closer to $70, but with inflation and a larger focus on getting in great physical shape, that number has grown but is still insanely low.
And not only do we cover meal ideas, but we also cover the basics of shopping.
List or no list
How often to shop
What to buy
Where to find deals
How to navigate the store
Take a look at this meal below which is a typical meal for Justin.
This plate has 370 calories, 50.5 grams of protein, 30 grams of carbs, and 6 grams of fat.
It's made up of 5.3oz of grilled chicken, 4.5 oz of green beans (125gr), and 3.5oz of sweet potato (100gr).
This week chicken was $1.99/lb plus sweet potatoes and green beans were only $0.67 per lb.
That means this lunch only costs:
Chicken: $0.87
Green Beans: $0.25
Sweet Potato: $0.19
Total Cost: $1.31
Keep in mind that if you did calculations of the weights and prices, you'd get an even cheaper number but you have to remember to factor in the weight you lost in the food from the water being cooked off.
We factored that in and still arrived at a killer price point.
This is one of those episodes that everyone can utilize.
Groceries are often one of our largest expenses month to month and just a few small tweaks can make a huge difference.
If you got value out of this episode, please share it with a friend!
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFIshow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
39 min
April 05, 2023 Roth vs. Traditional | Cody Garrett
Roth vs Traditional is one of the oldest arguments in the financial independence space.
Today we're settling the debate!
The reality is that there is no "right" answer but there is a right answer for you.
Cody Garrett brings his expertise to help you decide which one fits your path.
He is a fee-based financial advisor at Measure Twice Financial.
Cody had already put together a great resource that breaks down Roth vs Traditional.
But we're taking it a step further by peppering Cody with all the questions you could ask on this age-old debate.
Have a friend you want to help educate or maybe settle a friendly debate? This episode is for you!
Links From the Episode
Measure Twice Financial Planning
Cody's Roth vs Traditional Article
Network of Financial Planners
YouTube Interview
https://youtu.be/kSD1tWokXuw
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
59 min
March 29, 2023 Increasing Income to Reach Financial Freedom Faster | Tyler Wright
There's no doubt that being efficient with your expenses is a huge part of your journey to financial independence.
However, maybe we focus a little too much time there and not enough time on increasing our income.
That's exactly what Tyler Wright from Defining Wealth believes.
And Tyler has some first-hand experience in doing just that.
Tyler started out like a lot of us... age 22, a new college graduate, and $0 to his name.
It didn't take long for him to realize that a 40-year career in a 9-5 wasn't for him.
So he started finding ways to greatly increase his income while also investing in ways that would allow even more cash flow.
By the time he was 28, he was earning $10k per month in passive income thanks to his rental properties and investment portfolio.
And in just those 6 short years, he raised his net worth to $1.5M!
Have you been looking for inspiration to increase your income? Or maybe you know someone who needs just that, if so, please share it with a friend!
Links From the Episode
Defining Wealth
Tyler's Instagram
Tyler's Twitter
Tyler's TikTok
YouTube Interview
https://youtu.be/_KYZqBEkzwE
Join the Community
We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!
Grab the Ultimate FI Spreadsheet
Join our Facebook Group
Leave us a voicemail
Send an email to contact [at] TheFiShow [dot] com
If you like what you hear, please subscribe and leave a rating/review!
>> You can do that by clicking here <<
Learn More About Your Hosts
CodyDBerman.com (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
52 min

About The Financial Independence Show

From the publisher's feed

Cody Berman and Justin Taylor believe in the concept of “Financial Independence For All”. The Financial Independence Show focuses on REAL stories of individuals on their journey to financial…