The Financial Independence Show

In today's episode, you'll hear from Mrs. Miller who writes over at Millers On Fire.

Mrs. Miller grew up in the Bronx surrounded by low incomes and not much excess.

She gets out and her salaries begin to really climb. Once she passed the six-figure mark, she started feeling the guild of success.

At age 32, she comes to terms with what she'd achieved and found a new motivation in a journey to financial independence.

She also shares her experience with the Blogging for Profit Course.

Listen and learn all about side hustles and let us know what you think.

Episode Summary

She originally wanted to go into criminal law.

The original plan was to get a political science degree

That should set her up to become a lawyer

Once she decided being a lawyer wasn't in the cards she swapped majors

She'd end up graduating with a business degree

Being born and raised in New York she lived there with her father while she hunted for a job

She'd eventually find work with the U.S. government in California

Mrs. Miller's Background

Her salary would quickly climb from $35k to $70K and eventually up past $100k

The problem was her lifestyle inflated alongside her paycheck

She slowly increased her savings rate from 3% to 10%

Lacking financial literacy, she didn't consider what investing could do for not only her future but start a shift in generational wealth

Mrs. Miller Discovers FI

At age 32 she came across an article that explained this idea of financial independence

She took a look at her life and spending and realized she had a lot of financial potential

She admitted to struggle to even store all her clothes and shoes

Throughout her working career, she'd only been saving 10% of her income

After the discovery of financial independence, she would ramp that up to 50%

Mrs. Miller Spreading FIRE (+ Blogging for Profit)

Once she experienced such a shift in mindset, she wanted to spread it

In 2016 she bought the domain name for millersonfire.com

Unfortunately, it didn't go anywhere

Running a website proved to be overwhelming

Then in 2019, she took a course on Blogging for Profit

From there she found the tools and motivation to get back to her passion project

Mrs. Miller has seen a big turnaround and shares that for her readers

She also does a great job of being extremely transparent with her numbers

The Millers sit at a net worth of about $500k

Their goal is $1.1M and hope to hit that by age 44

Key Takeaways

Success can hurt:   Mrs. Miller was crushing her professional life but felt undeserving and guilty when she knew many people even in her own family, who were struggling.

Don't listen to standards: Saving 10% can feel like the finish line, push yourself to save as much as you can, not hit a minimum number.

It's ok to get help: Mrs. Miller tried blogging back in 2016 and hit a wall before getting help from the Blogging For Profit Course.

Call to Action

Reevaluate a project you started that fizzled out due to overcomplication

Side Hustle Courses [Limited Time]

Blogging for Profit Course (receive bonus ebook on signup)

Etsy Printables Course (receive bonus ebook on signup)

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

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If you like what you hear, please leave a rating/review!

The FI show on iTunes

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Learn more about the Millers

Via their blog at Millers On Fire

Read her Blogging for Profit Course Review

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, you'll hear from the side hustle king Nick Loper from Side Hustle Nation.

Nick got an eye-opening opportunity in college and knew he had to be his own boss.

He would eventually work three years in the corporate world. During that time he was building his side hustle.

It was quickly covering his expenses and he never looked back.

Listen and learn all about side hustles and let us know what you think.

Episode Summary

He started paying attention to money when he started realizing how expensive things were

Things such as renting a tux for prom

His parents didn't let on that they had the money that they didn't

It wasn't that they were rich but they did well

His first memorable job was through a program called College Works

They pitch entrepreneurship, sales, and customer service

You don't know what the job is until the pitch is over

It turned out to be house painting

They gave him an area of responsibility and taught him several skills

He was in charge of hiring, firing and solving customer issues

They warned Nick that he may never be able to work for someone after this experience

Nick mentioned how important this experience was to applying his education

He would go on to work for three years in corporate America

Nick's 1st Side Hustle

Nick built his first side hustle at 22

It was a comparison shopping tools for footwear

Every day he'd come home and work on the side hustle from 7-10pm

At his normal job Nick was making ~$50k per year

Before long the shoe site began earning enough to cover his expenses

At this point, Nick was ready to take the side hustle full time

What really flipped the switch for Nick was a quote from a conference

It was "Work on your business, not in your business"

Nick took this to focus on growing the business and less of the day to day grunt work

That lead to the next side hustle which was a yelp type site for finding a virtual assistant

Choosing Your Side Hustle

Nick recommends finding two areas you're in the top 50% in

Then find a way that those two things intersect

He also suggests trying out things to experiment

You'll often find your true golden idea once you get started on a project

If you begin to dread the work, it may be time to stop working on that side hustle

Tiers of Side hustles

Nick says side hustle fall into three categories: Service, Product, Audience

For Services, Nick really recommends branding fragmented services

He gives the example of building a maid service that has great customer service and ease of booking

For Product he recommends a "buy low, sell high" model like print on demand shirts

Then for an audience, you can sell clicks to ads or affiliate links

Also once the audience gets large enough you can sell something like an ebook or course

Key Takeaways

Expertise not required: Nick's first side hustle was comparing shoes and Nick knew very little about shoes

Be better, not necessarily different: It's more important to provide a great experience than something that's never been done

Think in scale: When building a side hustle focus your energy on how it will scale. Remember work on the business not for the business

Call to Action

Go check out Nick's giant list of Side Hustles and find a few today

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Learn more about Nick

Via his blog at Side Hustle Nation

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, you'll hear the powerful story from Deanna who writes at Recovering Women Wealth.

Deanna would bounce around the world while sprinkling in college which she graduated from at age 28.

By that time she had already been married and divorced but found her passion in teaching.

Unfortunately, she then became addicted to drugs and alcohol and found her self six figures in debt.

Thankfully at age 36 she got sober and now at 46 is debt free and on solid financial ground.

Listen to one of the more powerful episodes we've ever had and let us know what you think.

Episode Summary

Her parents were good with money and she was rebellious

She knew money was necessary to be able to get out on her own

Deanna did some learn some money lessons but they didn't sink in until much later

She admits that they wanted for nothing and were middle class

Deanna's parents also saved up for her college

Her dad was a successful salesman and her mom stayed at home

She would end up bouncing around while sporadically going to college

Deanna would end up in Europe, Colorado, and Ohio

At 25 she was married and 27 she was divorced

Deanna would also have to file for bankruptcy because so much debt was in her name

At 28 she would finish her undergraduate degree and find her passion in teaching

While it took her 10 years to get her undergrad, she got her graduate in just one year

To pay for her lifestyle during all this she would rely on being a waitress

She started out on a promising career in education as a mathematics teacher

Then someone from her past came back to her life and got her hooked back on drugs

She stopped teaching and got offered a job at a country club she used to work at

Unfortunately, it was a job surrounded by alcohol

Deanna would continue to spiral and found herself six figures in debt

The Turning Point

She recalls seeing three paths including insanity, death, and a glimmer of hope

At 36 she realized she was done and quit cold turkey

She was able to do this without entering a treatment facility

Instead, she just utilized anonymous groups

Her money journey started to turn around too

A church friend introduced her to the Dave Ramsey techniques

Now four years she was making a lot of progress but still had struggles

She would end up losing her house due to foreclosure

Now with little debt remaining, she was extremely motivated

At age 43 she made the decision to move in with her parents to accelerate things

She became debt-free in December 2017

Today she works in the insurance industry and loves her job

She started that career-making $40k and is now up to $70k

Deanna is actually looking to take a year and volunteer at an orphanage in Uganda

We can't wait to see where life takes her and her powerful story

Key Takeaways

Financial freedom > Retiring Early: Deanna is 46 and not near the end of her FI journey but she feels so free without the burden of debt

Use these powers for good: I love how this community takes there freedom and uses it help others the way Deanna does

It doesn't have to be a sprint: Deanna has made huge strides but many would not feel comfortable taking a year off but that's what she wants to do so she can volunteer at an orphanage in Africa... and that's pretty awesome!

Call to Action

If you know someone facing addiction, send them Deanna's story. Even if you don't, we all have bad habits. Face one unhealthy habit this month and eliminate it!

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Connect with Deanna

Via her blog at Recovering Women Wealth

Check out our Sponsors

Skillshare is an online learning platform with 30,000+ classes in design, business, and more.  Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access.  There are no commitments, it’s free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, you'll hear about the Financial Freedom Summit!

To help us cover the summit we bring on Grant Sabatier from Millennial Money and PT Money who created FinCon.

This summit is for everyone. It's not a blogger conference, it's for everyone who is trying to improve their relationship with money.

The Summit is May 1st - 3rd, 2020 in St. Louis.

Listen as we uncover why we are so excited about a conference that you surely won't want to miss.

Episode Summary

We start off by getting PT Money's background who started as a CPA

He would then go on to create FinCon (if you've never been...just GO)

Then we move to Grant Sabatier

He went from $2.26 over $1M by the time he was 30

He writes over at Millennial Money

Grant also authored the book Financial Freedom

Then PT gives us an overview of how FinCon got started in 2011

Grant then talks about this need for The Financial Freedom Summit

He first noticed this need while on the road across America talking about financial freedom

He and Cody then set out to create a game plan and road map

It's just an honest attempt at being stewards of the community

The big change conversations will happen everywhere

It may be in the hall, between sessions, or in the lobby in the middle of the night

The big goal is to track $1B in net-worth increase in 10 years

No one will be here trying to make a commission off of you

Just people answering your questions

There's also a rockstar list of speakers

You can also make the conference your own with separate tracks

Tracks like debt payoff, parenting, real estate, or entrepreneurs

In the end, we just hope to see you all in St. Louis May 1st - 3rd

Key Takeaways

Everyone is welcome with money: This isn't just for a small sect of people, if you want to grow your relationship with money, you're welcome

Finance is more than early retirement: Debt payoff, financial freedom, meaning to money, there are so many

There are tracks for everyone: Budgeters, entrepreneurs, real estate, small business, or gig economy... there are a lot of tracks

Call to Action

Go and grab and get your tickets so you can join us for this awesome weekend.

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Learn more about the Financial Freedom Summit

Buy tickets and learn more about the conference at TheFiShow.com/summit

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, you'll hear how Nate created a site to help people navigate student debt called LendEDU.

You'll hear how this website was born during college and now makes over $1M per year.

Joining Nate is one of his employees named Mike.

We cover their specific site, the industry, and tips for students today.

Listen and read below to hear this awesome business transformation.

Episode Summary

Colin's upbringing led him to be frugal

In high school, Nate had some jobs

He didn't really care about finance until college

His freshman year he took on a good bit of debt in 2012

Mike still has student loans

He didn't take it seriously until graduation

Nate also worked during college

He started paying off his debts immediately

He graduated with $60 debt

$45k came after 2 years then he changed it up

He started mixing in community college

Nate and Mike met in college

Nate starts LendEDU and brings on Mike

By the time they graduated in 2016, it became a full-time job

They both highlight how little finance information is available to high school and college students

They also realize others cover their material

But they try to present it in ways more consumable by younger people

Mixing in video and shortening length

We dive into some tips for incoming freshman

Question really why you're going to college

Do you already know your profession?

Is trade school a better option?

Then exhaust every grant and scholarship

Students should also look at what their total debt bill with be, not just year one

Nate saved $10k by mixing in community College while at a 4yr university

Then we jump into the business side of the website

They started off making $200 per month from advertisements in 2014

By the end of 2015, they were making $10k per month

By the end of 2016, they reached $50k per month

The team has scaled to 15 people

Today LendEDU makes over $1M per year working with 120 advertisers

Their reviews are all unpaid and therefore objective

Separation between the income and the rankings of products is important to them

Then we talk about unique new ways to avoid student debt

One is payback programs where you commit a percentage of your future salary

The other is where you don't need a co-signer for your loans

Under this model, it is based more on your degree choice and time left 'til graduation

Key Takeaways

Don't wait for success: It was awesome to see how Nate didn't put this business off until he graduated

Hire who you trust: The team has grown to 15 and 10 of those were college classmates. Trust is often more important than qualification

White Space Can Be a Style: Plenty of companies were covering these topics but none in a way that resonated with 20-year-olds

Call to Action

Take a look at your student loans and see if there is a refinancing option or anything to make those payments fly by.

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Connect with the LendEDU Crew

Via their website LendEDU.com

Check out our Sponsors

Skillshare is an online learning platform with 30,000+ classes in design, business, and more.  Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access.  There are no commitments, it's free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.

Learn More About Your Hosts

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, you'll hear how to get to financial independence via Blackjack (wait, what?).

Yep, that's right. Cody and Justin are joined by Colin Jones from Blackjack Apprenticeship.

Colin got an education in mathematics and started out as a teacher.

A buddy introduced him to card counting and changed his financial path forever.

He turned a couple thousand dollars he and his wife had saved and tried his hand at the card tables. That small amount of seed money would lead to millions in earnings, a team of prolific card counters, a documentary and his website where he looks to train the next great card counters.

Listen and read below to hear this incredible story.

Episode Summary

Colin's upbringing led him to be frugal

He really just wanted to be in a band and wasn't interested in college

His parents urged him to go

He decided he'd rather go to school than go out on his own

Colin ended up studying mathematics which was a great foundation to card counting

When he was 22 a friend gave him a book about card counting to win at blackjack

Colin then talks about his practice schedule went

After his friend started ramping up his earnings to $80 an hour, Colin decided to give it a real try

He took $2k of the $6k he and his wife had saved to seed his efforts

For the first few months, he wasn't really making much

His friend got picked up by a national card counting team

Then, later on, that same friend transferred all that knowledge to him and that really upped his game

After a bit, they realized they could make $200+ per hour if they had $100k in money to play with

For his career-high, he earned $434 dollars per hour

It took them 6 months of 30 hour weeks to get to six figure earnings

After a couple years they had formed a team that was making $500k per year

Colin opens up about how his profession was viewed by his family which were missionaries

Then Colin talks about the legality of card counting at a casino

Spoiler alert: it's perfectly legal

Colin also gives us a brief overview of how card counting works

One interesting thing is Colin has never put money into the stock market

He prefers to invest in real estate and grow his online business

His online business is Blackjack Apprenticeship

The site has online forums, software, and training videos to help you learn card counting yourself

On top of that, he does three or four live events where he helps polish fellow card counters' skills

Colin signs off by challenging everyone to question why they want to be financially independent

Key Takeaways

Money can be made everywhere: This is just another example of the limitless ways you can earn money in today's world.

Easy money is hard: Colin can repeatedly walk into a casino and earn money but it took countless hours of hard work and practice.

Tombstones: We absolutely loved his statement about the goal isn't to have financially independent on your tombstone. Life is bigger than that.

Call to Action

Write out five things you envision you'll do in retirement and then elaborate on why you actually want to do those things

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Connect with Colin:

Via his website Blackjack Apprenticeship

Also, check out his book 21st Century Cardcounter

Documentary Snippet

 

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, Cody and Justin are joined by Ben Le Fort.

Ben is Canadian and has an awesome back story.

His parents were financially unstable even to the point of needing Ben to help with the mortgage as a teenager and bankruptcy.

Ben would go on to turn things around and is now on the financial fast track. He and his wife now own two properties and are saving aggressively towards retirement.

Fun note, one of those properties is actually the home that his parents now live in.

Listen and read below to hear his amazing journey.

Episode Summary

Ben grew up upper-middle class but then 2008 happened

Both of his parents were realtors and the recession crushed them leaving them bankrupt

His parents had no savings and the housing market crashed

Looking back he saw some flags that they hadn't been saving

One of those flags was being asked to help pay the mortgage as a teenager

 The problems his parents went through caused him to choose economics as a major

Ben would end up graduating with about $30k in student debt

This was  a rough go because he was having to use student lines of credit

His parents' income made him ineligible for financial aid or government student loans in Canada

Ben would go on to miss some payments which took a toll on his credit

Upon graduation, he couldn't find a good job because of the recession (2010)

This drove him to going back and getting his masters degree

Ben got roommates in a run-down apartment for $350 a month

He tried to continue living the college lifestyle so he could pay off his debt

Ben became debt-free in 2015

Then Ben talks to us about meeting his wife

She was very risk-averse and investing scared her

After tackling stocks they moved on to real estate

Ben now has two properties and has done very well on both

Fun note, his parents actually rent a property from him

Ben's financial world is now off the charts and he's looking to help other

That's what started his venture into blogging online via Medium

That writing has now turned into a legitimate side hustle

We then tackle Canadian investing vs American investing

Key Takeaways

Be prepared for the unthinkable: His parents were so used to their income and the stability of the housing market. When it crashed, they certainly weren't prepared.

Your start doesn't define you: The thing that really jumps out in this episode is that his parents' bankruptcy didn't mean Ben couldn't be successful. It actually benefited him through the motivation it gave him.

Currency Matters: There was a really tangible discussion where Ben called out the tactics of someone in Canada investing and how it differs from the United States.

Call to Action

Whether it is a parent, cousin, or just a friend. Find a loved one who could use a talk about finance and open up and talk to them. Keep it simple and make them feel comfortable if you can.

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Connect with Ben:

Via his publication on Medium called Making of a Millionaire

Via his writing at Wealthtender

 

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

Check out our Sponsors

Skillshare is an online learning platform with 30,000+ classes in design, business, and more.  Join the 5+ million students currently on Skillshare and make yourself a MVSH (more valuable side hustler)! Use our custom URL Skillshare.com/FiShow for 2 free months of premium membership access.  There are no commitments, it's free to start, all the classes are free, and all the material is taught by experts. Check out Skillshare today to see how you can level up your skillset.

In today's episode, Cody and Justin are joined by Taylor Offer from FEAT Socks.

This 26-year-old has been making millions since he was 22 from selling socks.

Yes, you heard us right...Socks. But FEAT Socks aren't your average socks and Taylor isn't your average entrepreneur.

Taylor gave up a prestigious investment banking internship to follow his dreams and create a business.

There was failure and even an unhealthy amount of success. Today Taylor has streamlined business and his life and ready to show you how.

Listen and read below to hear his amazing journey.

Episode Summary

We welcome Taylor from FEAT Socks

This business now makes millions annually

From a young age, Taylor was fascinated about price arbitrage -- this is where you can buy something and sell it for a big markup

Taylor doesn’t remember one moment that made him interested in money

He was more focused on value even as a child

Going into college he was only focused on a lucrative degree

He got a coveted internship in banking

Then realized how unhappy everyone in this business was

That made him realize that entrepreneurship was going to be his path

People were hard on him for dropping his coveted internship

His first business venture was a marketplace for college kids

It was called Market Loco and got over 500k hits in a month

The infrastructure costs were too expensive, so it failed

His next venture was making custom print t-shirts for frats / sororities

He started door-to-door but did a huge cross-country spree

It was really successful at the beginning and seemed too easy

Then one of his orders got ruined by the manufacturer on a $7k order

Taylor realized custom business was really tough

Great quote – “There’s a million ways to get it wrong, and only one way to get it right”

He meets his soon-to-be business partner his senior year

His partner parker had done $1M+ in custom lacrosse jersey sales

They brainstormed and settled on crazy socks as the next idea

This would become FEAT Socks

They sold $2k worth of socks out of a backpack on campus the first day

Over their senior year they sold 20k pairs of socks

They were making these by hand with a heat press

Eventually they hired out college friends

Imagine college kids in an unheated workspace, drinking and making socks

They really grew their list through Instagram and Facebook

Things really turned when they got their angel investor

Overnight they get $250k as seed money and FEAT Socks is legit

Then through some connections they get Aly Raisman as an influencer

It was during the Olympics and she sells $500k worth of socks and FEAT Socks goes viral

Originally, they were going to give away 50% of the company for $50k

Instead they raised the $250k at a $1.5M evaluation

Then we start talking about how the business got away from them

At age 23 they are making millions, move to LA and hire 20 entry-level employees

They get a 5k square foot warehouse all decked out

Taylor and Parker get named to Forbes 30 under 30 and life seems perfect

Then, their logistics company misses Christmas delivery dates for a ton of customers

They also spiraled into depression and worked 16 hour days all week

Taylor just broke down one day and took a one way to Thailand

He saw these poor kids in the streets who were happy

That moment made him really realize what was important

They also realized they had $75k in overhead -- this caused them to let go of more than 75% of their workforce and to automate everything

It was cheaper, better quality, and way less stressful

FEAT is now very successful with only 1 hour of work per day for the founders

With FEAT Socks running on its own, they started a marketing company

Taylor actually has like three other businesses going on (serious entrepreneur!)

He feels like he’s happy but always finding the balance

Oh, and not to mention Taylor was featured in a Justin Beiber video! (Check it out here at 4:34)

Key Takeaways

Don’t get greedy: Taylor was lured to the a major only because of how much money it would make and almost ended up miserable

Always be ready: Taylor constantly had 6 pair of socks ready to sell. That’s what made FEAT Socks successful

Misery isn’t selective: It would be easy to be jealous of Taylor but realize that depression can come calling for any of us

Call to Action

Go automate your life and reduce some stress.

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Contact Taylor:

Via his business Instagram

Via his personal Instagram

Connect on LinkedIn

Check out his businesses:

FEAT Socks

My Last Bottle

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

In today's episode, Cody and Justin are joined by Carl and Mindy Jensen from 1500 Days.

This power couple is a staple in the financial independence space.

We had a blast recording live at FinCon and can't wait for you to hear.

Discover the origin of the 1500 day blog, the dinosaurs, and why Carl will never be a plumber

Listen and read below to get all the wisdom from Carl and Mindy.

Episode Summary

Carl discovered FIRE after having a bad day at work at age 37

He ended up setting a goal of retiring in 1500 days

He met his goal at age 43

Mindy and Carl write over at 1500 days

Mindy is also a co-host of the Bigger Pockets Money Podcast

They live next to Mr. Money Mustache in Colorado

After becoming friends they went in together in a co-working space

We start unwrapping Carl and Mindy’s upbringing

Carl’s parents weren’t very good with money

He also was the first in his family to go to college

Carl became a work-a-holic and a money hoarder

He would wake up with nightmares about money and getting fired

Mindy actually is the one who still works though

She loves her job, which has nothing to do with her education

Mindy and Carl had their kids before they discovered FIRE

They were three and five years old

Both kids are still in school

With that, Mindy doesn’t miss valuable family time by working

We then discuss how the kids perceive them as retired parents

Mindy recalls growing up spending all Saturday going to garage sales

She said her parents had money but didn’t let the kids know

Carl recalls picking individual stocks when he first started working

He doesn’t recommend this approach now but got lucky with it

Mindy didn’t utilize the stock market until she got married

But she did start investing in real estate right away

Her first place was a $50k condo

She sold it a little later for $75k

We go back to hearing how Carl started his blog 1500 days

It was based on the days left he had to work after discovering FIRE

The blog was a way to keep him accountable

Currently, they invest in real estate including a Maine trailer park

They also do index funds, solo 401ks, and a syndicate deal

They still do live in flips and are about to start a new one

We then discuss the things they do for fun

Carl’s favorite thing about retirement is the uncertainty

The next big project they have is starting a brewery

Mindy discusses not moving around even with no job holding them down

Then we dial into the final three questions

Trust us you won’t want to miss these

Hint… Carl gets sprayed with feces 

Key Takeaways

You may not change: Carl was addicted to working and staying busy. Just because he doesn't have to work, doesn't mean it changes that natural instinct to look for the next project.

You may work for fun: Most people get nervous about retiring early out of fear. In reality, most people still end up making money in retirement. Just look at Mindy who's killing it at Bigger Pockets

Have fun people: Our favorite thing about Carl and Mindy is just how much fun they have with life. Don't stress yourself out. Enjoy the ride.

Call to Action

The call to action this week is in honor of our guests... DRINK A BEER!

   Non-Alcoholic is just fine :)

Join the Community

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Contact Carl and Mindy:

Via their 1500 Days

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In today's episode, Cody and Justin are joined by Alex Fasulo who is the queen of Fiverr.

This 26 year old makes insane money as a copywriter all online.

Alex came from a family of entrepreneurs but sought a job in politics or law.

After graduation, she found herself in a job she hated and quit soon after. Alex turned to a little site called Fiverr to start trying to earn money online.

Fast forward a while and she'd become a Fiverr pro who travels the world and makes over $350k per year risk-free.

Listen and read below to hear how she did this and how you can too.

Episode Summary

She really started paying attention to money after moving to NYC and being out of a job just a few weeks later

The job didn't turn out to be at all what she was expecting

So she quit

She comes from an entrepreneur family

Her mom has done hand-painted clothes

Her dad has made board games

She went to school for political science and aspired to be a lawyer or politician

In the house, they were smart with money and savers

However, there wasn't conversations on investing or anything more complicated

Before she quit her job she had been on a site that was still pretty small called Fiverr

After a few months, she started having some traction with it

Alex recalls the first day she ever made $100 in one day and felt like this could work

Then we start discussing how she grew her rates and found her value

After a year of taking things really seriously, she was earning around $32k

Alex talks about how important the review is during this growth stage

She said if you're early on, it's best to just create a new account if hit with a bad review

Now we unravel the origin of Fiverr Pro and how Alex's earnings exploded

Alex was invited to a photoshoot for Fiverr and then told she was invited to this new program

The minimum rates would be four times what she was currently selling

Keep in mind that there's no pro membership or risk to Alex

Eventually, she was making over $300k per year and money was piling up

We then discuss what Alex plans to do with all that money

Then we discuss the drawbacks like all the sitting, bad backs, and carpel tunnel

While the business is crazy successful for Alex, it isn't really possible to scale further

Currently, Fiverr doesn't have a team version but it may be in the future

Alex isn't ready to leave Fiverr anytime soon because they bring her so many clients

Even though they take 20% of the profits, she doesn't believe she could find the number of gigs

We then talk about some of her biggest or craziest deals including the royal family

She's also starting other side hustles like converting horse trailers into mobile bars and ebooks

Key Takeaways

Brace yourself for change: It was awesome to see how well Alex did with the change that happened when she found herself in a job she hated. We have to be ready for what life hands us and make the most of it.

Income can be exponential: Much like investments, income can also grow exponentially as you build a reputation

Online doesn't mean easy: We often romanticize working online but it's obvious Alex has put in countless hours to build her dream. Don't expect easy money to just fall in the sky

Call to Action

Go browse Fiverr and look for inspiration to start selling your own gig!

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!

Sign up for our exclusive newsletter

Join our Facebook Group

Leave us a voicemail

Send an email to contact [at] TheFIshow [dot] com

If you like what you hear, please leave a rating/review!

The FI show on iTunes

The FI show on Android

 

Contact Alex:

Via her blog and grab her book

Catch her on Facebook

Follow her Instagram

In our Facebook group!

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)