The Financial Independence Show

By Cody Berman and Justin TaylorBusiness Entrepreneurship Investing Careers

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The Financial Independence Show episodes

September 03, 2019 The Low Income Path to FI | Chad Methner
In today's episode, Cody and Justin are joined by Chad Methner from Little Brother Life Coach.
Chad really wants to encourage people how to reach FI even if they're nowhere near a six-figure salary.
We discuss his battles during the recession, finding himself in a job he hated, and how he came through it all. You'll catch Chad now helping others through coaching and setting up local meetups.
It's a unique angle so go listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Chad first discovered financial importance from a Dave Ramsey book he stumbled across
The parts about debt pay off really hit Chad
He's still $20k in debt from college
After high school, he just did some manual labor while he tried to figure out what to do for college
He got half off tuition thanks to his dad's job at Ohio State
After college, he couldn't land a job because it was 2009 and the recession was in full swing
He didn't rack up any debt from college until he got his masters in 2015
While the job he had did some tuition reimbursement, it still cost him $25k in debt
That along with a car and some other loans left him with over $40k worth of debt
He continues at this job making under $11 per hour
After he got his masters he went to try and get a promotion
Unfortunately, they didn't give him any options
After six years there he had maxed out at $13.25 an hour and decided to leave
He landed a new job and almost doubled his income to just under $50k and in a role where he was more comfortable
We asked why he staid at that first job so long unhappy and underpaid
For Chad, it was just comfortable and easy but he finally had enough
The discussion swapped to how he saves money on this lower-income
The biggest thing for him was cooking at home
It turned into a full-blown hobby instead of just a money saver
He plans to be out of debt in 3-5 years
His big goal is to retire before age 55 and hit that $1M mark
Chad is also trying to build up side hustles including coaching and writing a book
Then we discuss the "poverty-tax" and the importance of an emergency fund
Key Takeaways
Everyone can benefit from this journey: Chad began this journey on as little as $10.75 per hour and it's changed his life. Your velocity may be different but the impact is still extremely meaningful.
We can always help: Although Chad is still working through his debt payoff, he still has a lot to teach other low-income individuals chasing FI.
Don't settle for misery: Chad obviously stayed at his first job too long. After 6 years he was still underpaid and forced into positions he hated. Regardless of pay, working in a job you hate is never worth it.
Call to Action
Start planning some frugal activities and trips. Maybe even take a look at activities you currently do and find a frugal alternative.
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 Chad:
Via his blog Little Brother Life Coach
Catch him on Twitter
In our Facebook group!
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
33 min
August 27, 2019 Traveling the World Indefinitely | Kristy & Bryce from Millennial Revolution
In today's episode, Cody and Justin are joined by the incredible duo of Kristy and Bryce from Millennial Revolution.
Their story is so inspiring. They start at the most traditional lifestyle route of a professional career and seeking homeownership. Then one day they realize the housing costs are simply out of control and they'd rather retire instead.
Three years later they quit their jobs and have been traveling year-round since then. They're keeping busy though with projects like their new book Quit Like a Millionaire.
This will certainly be one of the most entertaining episodes we've had to date so go listen now.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Bryce wasn’t focused on saving money in college...beer took priority
When they graduated they were just solely focused on saving for a home
They lived in a modest apartment while chasing a home
The house prices kept outpacing the housing
Before they could find a home, they realized they’d saved $500k
Then Bryce came up with the idea to ditch the house idea and retire instead
Kristy saw the value in this after seeing a coworker collapse from stress
They hit a million at the age of 31
We then dig into how they actually got the $500k in the first place
Kristy credits the scarcity mindset she got from being raised in poverty in China
They moved to a cheaper apartment, used public transportation, and reigned in their eating out splurges
They weren’t naturally frugal at the start with Bryce dropping hundreds on booze and Kristy collecting high-end purses.
Kristy even got into unboxing videos for these purses
Bryce then starts discussing the differences between how he and Kristy see things
Kristy is much better at being frugal but was much less comfortable getting started with investing
They really fill in each other's gaps to make the perfect financial independence duo
Kristy said what helped get comfortable with investing was understanding how much she'd lose to inflation in savings accounts
Then Bryce starts covering their investment strategy and how they navigated the 2008 recession
That strategy is a big cornerstone of their book which seeks to show how to handle every rough situation you may encounter
Kristy covers how they started out with salaries in the $60k range but would get several raises along the way
Their savings rates began around 50% and would get up to 72% before retiring
Kristy then covers how to use a number centered approach to choosing your major in college
Bryce and Kristy then start covering all the work they're doing now in retirement with the book and blog
They credit being in a position where the focus didn't need to be money as their key to side hustle success
Kristy then starts telling the backstory to how her video about millennials and money went viral
At this point, we shift gears to understanding how they continue to travel the world year-round for under $40k per year
They prefer Air BnB over a hotel for the kitchen and laundry access
Then they discuss how they build a schedule when constantly traveling and some of the bumps to expect along the way
Currently, they're staying in a location a little over a month but plan to start rotating between locations quarterly
Those three-month stints will allow them to build real lasting relationships
Key Takeaways
Create your own trend: It was amazing to see them realize that they didn't just have to follow the path everyone else was following. Why buy a house if that house was going to anchor you to a job for decades.
Handling the worst: Too often we only tell success stories and don't give enough focus on preparing for non-ideal scenarios. Kristy and Bryce nail this topic.
Millennials are misunderstood: Millennials aren't pampered or lazy. They just consistently choose to follow lifestyles that their parents could never dream of and that makes some people uncomfortable.
Call to Action
If you were to lose your job tomorrow, what types of safety nets do you have in place to hedge against that risk? Formulating a game plan will make your personal finances much more resistant to difficult situations.
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 Kristy and Bryce:
Via their blog Millennial Revolution
Catch their on Twitter
Join them on Facebook
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
1 hr
August 20, 2019 Financial Independence in the Military | Military Dollar
In today's episode, Cody and Justin are joined by the magnificent Military Dollar.
Justin really had a blast getting to vent the military money misunderstandings with someone who could relate.
Everything gets covered here. Military housing, insurance, investing and of course retirement.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
When she was in college she didn't have a lot of money
Her parents were also draining on her finances some in college
It was clear to her that she needed to get her finances together and started tackling finance books
She ended up commissioning as an Air Force officer through the ROTC program
She also got a scholarship but because it was a private school, it didn't cover everything
When she graduated she had $20k in student debt, credit card debt and a car payment
Both of her parents are entrepreneurs but aren't very good with money
Upon graduation she got a new car and had a total of $42k in debt
After four years in the military she was debt free
Her degree was in political science but she ended up in a very different career field
Now she's making great headway towards financial independence
She loves her job and never wants to work for pay after she retires
Then we discuss the flaw with just choosing a job you love
We then discuss why it can be beneficial to live in a high cost of living city
Mil dollar then starts breaking down exactly what she makes in the Air Force
Justin and Mil dollar then break down common money mistakes military make
The big ones include housing and comparing military to civilian pay
Then we unravel the military 401k also known as the Thrift Savings Plan (TSP)
This includes some big changes coming to the TSP this year!
Now the moment you've been waiting for...retirement
We go over both the traditional retirement and the new blended retirement system
Military Dollar finished the episode with how she plans to travel the world with free flights in retirement
Key Takeaways
Military is a really solid FI path: Unfortunately people think the military is something people do because they didn't have any options. In reality it's full of some of the smartest people you'll ever meet and certainly one of the most sure fire ways to retire between 38-43.
People will find an excuse: Military members often spend all of there housing allowance on a house even if they could get by just find spending a third. The mentality doesn't make any sense but it's an easy excuse for sure.
FI lifestyle possibilities are endless: During the wild card question, Mil Dollar talks about this magical retirement community. That's the beauty is you can do whatever you want and there's no reason to live a cookie cutter life you don't want.
Call to Action
If you know someone in the military or considering the military please share this episode with them.
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 Military Dollar:
Via her blog Military Dollar
Catch her on Twitter
Join her Facebook group
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
56 min
August 13, 2019 Engineering Your Early Retirement | Kim from The Frugal Engineers
In today's episode, Cody and Justin are joined by Kim from The Frugal Engineers.
Kim started nowhere near engineering and with no financial goals.
A math professor and an intro to Dave Ramsey would turn her life and career choice completely around.
Kim would eventually build a side hustle that would become her full-time job.
That side hustle brought in more money than she ever made in traditional employment, allowed her to stay at home with her child, and even let her husband reduce to part-time work.
Now both Kim and her husband are self-employed and working for joy instead of stressing about finances.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Kim took a gap year after her junior year of college to work at Disney world
She had been living off scholarships and didn’t really have to worry about income
During that gap year, the scholarships ended
She bought a car and racked up $10k in credit card debt
The main culprit was a guy she was dating who was already in a corporate job
She kept trying to keep up with his spending along with the travel and eating out
Kim ended up graduating with an engineering degree
Engineering wasn’t on her radar until a math professor pushed her that way
Her financial turnaround came after a friend introduced her to Dave Ramsey
While she always understood the math she didn’t have a grasp on the psychological side
From there she made a plan that included never taking on debt again
In grad school, she’d meet her future husband who took her on a date to dollar tree
Kim made a vow to pay off all her debt before they would get married
It was on their debt payoff celebration that he proposed
Then we dig into how she graduated from just Dave Ramsey teachings
Now that she’s comfortable with credit cards, she fully embraces travel rewards
Fast forward and they have a child and are just discovering the FIRE community
After some quick math, they realized at age 29 they were only 6 years from retirement
That plan was if nothing changed but Kim wanted to work from home
Kim dual-hatted a side hustle with her job
She built that up so much that she now works from home and reduce childcare costs
After just two years she was making much more than her traditional work
Inspired by Kim’s transition her husband started working for himself as a consultant
Kim’s side job was hard to juggle with being a new mom at first
After calculating things, they realized it was more profitable for her husband to go part-time and free up time for her and greatly increased their work-life balance
Once they were completely location-agnostic they decided to leave Florida
They tried Oregon for a while but it was too expensive
Starting this year they started the journey of finding a place to put down roots
They tried Tennessee, Alaska, Nevada but ultimately settled on Wyoming
Wyoming has great tax benefits and access to skiing for their daughter
Now the next thing they needed to tackle health insurance
They tried standard heathlcare.gov plan with a high deductible
Then they tried a health share program through Liberty
These plans are interesting because they can be more selective of who they cover
It was $450 per month for a family of three
Kim would have to pay upfront for the bills and then file for reimbursement
They struggled with timelines on reimbursement and lack of understanding from doctors
After 6 months they went back to a standard plan that was over $900 per month
Currently, they’re on a “short-term” health insurance plan
It’s only $230 per month but comes with a high deductible and no HSA
Then we shift to discussing the detailed steps of finding your FIRE home
They made spreadsheets that would mimic their spending in a specific city
They visited playgrounds, realtors, and the Wal-Mart Test
Her rule is if you don’t like Wal-Mart in your town, it’s probably not a good choice
We finish off the episode detailing their investment strategy
Their strategy is a traditional approach through Vanguard and index funds
They’ve decided not to retire as early as originally planned
That decision is a factor of enjoying work and being able to add more cushion
Their current total spending is $40k per year for the household
Key Takeaways
It just takes a spark: Kim got redirected by a math teacher to go to engineering and she found a husband that fits perfectly with her restructuring her financial journey. It's just amazing to see how these small moments change our lives
Nontraditional meet traditional: I love how Kim wants to live a traditional life in one location with her family but made it possible in such a nontraditional way.
Pen to paper: Kim was thorough and realistic when making the decision on where to move. She understood it required a lot more research than simply googling the average cost of living for a city.
Call to Action
Sit down and consider where you want to live in retirement. Build some calculations based on taxes and cost of living and make plans to visit those locations over time.
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 Kim:
Via her blog TheFrugalEngineers.com
Catch her on Twitter
Follow her Instagram
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
54 min
August 06, 2019 Spending Money Where it Matters | Chris Mamula
In today's episode, Cody and Justin are joined by Chris Mamula who is about to release his new Choose FI book.
Chris has a great and relatable story that we really think everyone could follow.
His story was also met with a lot of the same mental struggles we all face on this journey.
Chris and his family are now financially independent in Utah.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Chris and his wife have always been financially aware
He was able to get through college debt-free
His wife started working a year prior to him but she was carrying $20k in student debt
Chris got his masters in physical therapy while his wife focused on math and operations research
When they graduated Chris and his wife were both making in the mid 30k range
They eventually got their income up to the 80-90k range each
From the start, they were saving ~50% of their income
Making a move to a rural city would eventually really increase their income
Interesting note that medical professionals can often earn more in small markets
Chris did end up utilizing a financial advisor that was really taking advantage of him with fees
They would go on to pay their house off in seven years and really start investing
In 2012 they discovered they were going to have a child after not thinking it was possible
Chris admits that he was a touch depressed at the idea of having a child
It just seemed like all their financial plans were going to fall apart
But just a few months later, he was all in after seeing that sonogram
Around this time he discovers FIRE and starts really getting smart on investing
He decided to start handling his own investments and how to restructure his $400k nest egg
You can check out Chris’ full portfolio at his blog Can I Retire Yet
That strategy has obviously worked as they got to retire a year ago
Then Chris discusses how they would decide where to live in retirement
They ended up landing at Ogden, Utah (skiing was big criteria)
In reality, his wife was offered a remote job that allowed them to keep insurance with few hours and Chris got a book idea
Chris had no idea what writing a book would entail but knew he wanted to do a series of interviews
Being able to tie all those chapters into a cohesive story turned out to be a challenge
The biggest thing he learned in the writing process was that designing a life you want is much more important than actually retiring
He also calls out what a difference it can make to turn saving money into a fun competition versus it feeling like a chore
Chris isn’t sure he’ll ever actually stop putting in work but certainly isn’t worried about pay
Then we transition the discussion on how Chris is raising his young child in regards to money and educational path
Key Takeaways
Saving fixes all: They didn't make a ton of money, they got cheated by advisors, they had a kid...but they retired early
Mental is tougher than money: Several examples were covered about psychology and those mental hurdles are so much tougher than an equation
Relief not retired: The main focus should be on building a life you love not simply retiring because that's where the happiness really comes from
Call to Action
Chris has such a love for the outdoors and so do we. This week we just want you to lower the stress and back away from the computer and get outside.
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 Chris!
Pre-order the Choose FI Book Chris wrote
Contact Chris:
Via his blog Can I Retire Yet
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
49 min
July 30, 2019 Achieving Early Retirement through Airbnb | Zeona McIntyre
In today's episode, Cody and Justin are joined by Zeona McIntyre who is an absolute boss with Air BnB rentals.
Her story starts by getting a degree she'd never use and $50k in student debt.
Fast forward to 2011 and a roommates exit opened her eyes to the possibility of Air BnB.
Today she owns six homes and manages over 20 more that are all making huge profits on Air BnB.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
She grew up in a family that wasn’t good with money and included moments on food stamps
Finance was always an interest to her and she started digging deeper into studying it around 18
She actually grew up in Maui
There was always a deep interest with her in entrepreneurship and hustling
Her dad didn’t believe in college but she ended up going even though she admits she didn’t use her degree and a lot of people go into debt for it with no benefit
When she graduated she came out with $50k in debt after getting a fashion marketing associates degree in Los Angeles
She realized her degree was pointing her towards a corporate environment that wasn’t appealing to her
After college she bounced around fun jobs like being a tour guide
She was able to save money even with these fun jobs
With the tour guide jobs, they were living on the road so she didn’t have housing costs
During this time she was trying to pay student debt but only the minimum
After 10 years she realized she had barely lowered her student debt at all because of interest
She moved to Boulder in 2011 to become a massage therapist and discovered Air BnB
Because she already had experience with Couch Surfing, it felt comfortable to her
She had a two bedroom apartment she was renting but had furnished it all herself
After a roommate left, she decided to just Air BnB out the extra room
It wasn’t steadily rented, but enough to cover the rent
After it started being successful, she rented another apartment
Yes, she was renting two, two bedroom apartments for Air BnB!
At a point she started cleaning the places herself which allowed her to quit her $12/hour job
We talk about how to give your Air BnB a unique touch to make it more desirable
She feels like Air BnB is way more interesting and profitable than long term rentals
Her first real introduction to financial independence also came in 2011 via Mr. Money Mustache
She was 25 and wanted to retire by 30
When she started the focus was just on the large nest egg
It eventually pivoted to a cash flow mindset when she saw the success of Air BnB
She became cash flow FI at age 28 and began buying homes
Now she owns 6 homes and manages over 20 properties at age 33
It’s important to remember that anyone can try this
All you need is a couch or a backyard with a tent to get started
Remember though things like towels and sheets!
Then we talk about managing other people’s Air BnB vs posting your own place
Rates range from 20-40% (Much higher than long term rentals)
Key Takeaways
Weird Works: Who would ever think to rent a second apartment just to put on Air BnB? It sounds weird but it's high profit and low risk!
Build Habits: Zeona didn't have much money at first but she started good habits even if it was just $50. That allowed her to handle her money when she actually had a lot of excess coming in.
Mix Business and Pleasure: Zeona has found a way to travel and support her business. By owning Air BnB's across the country, she can visit them to check up and get a vacation at the same time.
Call to Action
Look around your house or maybe a family members house and if you have a room or space that goes unused, pop it on Air BnB. Just get started!
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 Zeona!
Zeona's Website
Contact Zeona:
Twitter
Instagram
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
50 min
July 23, 2019 Managing Monthly Expenses with Cody & Justin
In today's episode, Cody and Justin take you on a behind the scenes tour of their monthly budgets.
For some context, Cody is 23 and moving to Boston in September and Justin is 29 living in Boston with his girlfriend. Neither of them has kids.
It's also important to note that despite their low monthly expenses, Justin and Cody do not feel deprived whatsoever. They're both enjoying life to the fullest.
Ready to nerd out on some numbers? Let's dive in.
Housing
Justin - Currently paying $837 per person in Boston for a 2BR apartment.
Cody - Paying $600 to share a room in Boston in a 3BR apartment with three roommates.
Both Justin and Cody do an extensive amount of research before committing to a housing arrangement.
Transportation
Cody - Spends approximately $225 per month for gas and maintenance on his paid-off Nissan Frontier.
Justin - A whopping $110 per month despite owning both a car and a truck... in a big city!
The absence of a car payment or lease drastically reduces the cost of transportation each month.
Food
Justin - Spends $60 per month on groceries and ~$100 on all other food-related items (including alcohol) for a total of $160.
Cody - Grocery expenses are typically around $110 and eating out / alcohol come in at about $190 for a total of $300.
Justin and Cody are able to keep their food costs down by buying only primarily on-sale lean meat and vegetables and cooking 90%+ of the time.
Entertainment/Travel
Cody - Total monthly expenditure is around $400 per month.
Justin - Spends about $300 per month in this category.
Both Cody and Justin agree that experiences are 10x more valuable than material possessions. That's why they allocate a fairly large portion of their budget toward this category!
They also take advantage of credit card rewards to gain free flights and airport perks.
Miscellaneous
Although it was hard to pin down exact numbers, Justin and Cody do have a miscellaneous category.
Basically, anything that doesn't fit into the four categories above makes it into this one.
Recently, Cody and Justin have started to focus more on quality instead of just buying the cheapest option possible.
Key Takeaways
Keep the big expenses low: Since Cody and Justin keep housing, transportation, and food low, they have a lot more flexibility when it comes to the fun categories (a.k.a. entertainment and miscellaneous)
Do the extra research: One of the reasons why Justin and Cody are able to keep their monthly expenses low is because they are willing to put in a little bit of extra work to find a deal.
Income Matters: Both hosts understand that saving isn't everything. If you're having trouble saving because your income is simply too low, consider starting a side hustle or figuring out ways to move up in your current role.
Calls to Action
Justin: Do you remember what you ate for lunch last Tuesday? Probably not. Figure out what other "Tuesday lunches" you have in your life and cut those out as much as possible.
Cody: Lifestyle inflation is one of the sneakiest enemies of financial independence. Start experimenting for a week (or more) at a time and cut different things out of your budget. If you don't miss it, don't add it back in!
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 Us:
Twitter
Facebook
Email
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
29 min
July 16, 2019 Becoming a Financial Grownup | Bobbi Rebell
In today's episode, Cody and Justin are joined by Bobbi Rebell from the Financial Grownup Podcast and author of How to Be a Financial Grownup.
She has a really interesting beginning from the ground floor and working her way up to multiple large media outlets and building a career on camera.
Bobbi eventually saw an opportunity to step away and become her own boss which would end up being both a great financial choice and a great choice for her family.
Come listen to where she finds her inspiration and the tangible steps she took to building both a successful corporate career and a business.
Listen and follow along with the summary below and make sure to check out the links at the bottom of the page.
Episode Summary
Her dad was a Wall Street guy who would give the kids an opportunity to plan out their total expenses for a semester and they would make their request and that'd be there only chance to ask for money. (pretty awesome parenting exercise)
She admits she had a lot of fortunate events and circumstances in her life but she also has had a great work ethic and paid her dues along the way
Bobbi's working career started with working at a bakery, wrapping presents and folding clothes before her unpaid internship at CNBC
She would come in during the middle of the night because people were a lot more likely to allow her to help and actually build a resume
When she graduated college she didn't have any student debt which she credits to her granddad starting the trend of putting money back for her own parents' college
Bobbi actually bought her studio apartment straight out of college at 23 in New York City and would end up flipping a couple of properties which lead to her nicer, larger apartment she owns today in NYC
That first studio was only $90k which she bought during some down years in NY real estate
Her friend actually got a similar apartment for under $70k!
While she was making some big financial moves and making great progress, she wasn't without fault
She bought a $3k chair with a home equity loan but she obviously rebounded
Her career would quickly take off and she attributes it to always doing a little more than is expected and always adding skills
She actually got her CFP from NYU thanks to some of the training her job paid for
During her career, she became close with the likes of Tony Robbins and anchored shows at PBS and Reuters
There were a couple of transitions obviously in that career and she details advice on loyalty to people vs businesses and how to handle transitions
One day on a walk she decided to start a brand and write a book to help young people become financially responsible grown-ups
Through the process, she was transparent with her company about her eventual transition
The transition was a big one as she had three kids and a lot of groundwork to build for her business but she took a thorough approach over a three year period
A big tip she gave us was to see if your company offers buy-outs for your job before you simply quit
After agreeing to a slight delay in leaving, she did get a pretty nice buyout
We then jump into some rituals and habits that keep her motivated and to help avoid burnout with such a high energy personality
After making her transition, she realized that it really wouldn't take that much money on the side to make it a smart decision because of how expensive it was to work and raise children
With this entrepreneur ventures, she doesn't pay for childcare and she can write off a decent amount of things as business expenses
While she felt comfortable that she'd be able to make enough money on the side, she was surprised at what ended up being the most profitable
Her favorite and most profitable part of her work is doing sponsored content for different brands
On top of that, she MCs events, wrote a book, has two podcasts.... and more!
Now she's about to release another book on raising your own kids to be financial grownups

Key Takeaways
Hard work separates: It's clear to see that all the extra time Bobbi put into her craft is what put her on such a good career path
Give yourself creative space: Bobbi talks about her walks in central park and the ideas that come to her. Give yourself some time to step away from the computer and just relax and let inspiration come to you
Build your transition early: Even if you're not sure you want to transition to something else, it's always great to start building a path and contingencies in case that day comes and do so early
Call to Action
Find a ritual that involves some quite time and let your creativity do its thing. Heck, even if you're not looking for your next great idea we could all use less time in front of a screen
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 Bobbi!
Bobbie Rebell Website
Contact Bobbi:
Twitter
Facebook
Email
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
50 min
July 09, 2019 The Dreamer’s Path to FI | Diego Corzo
In today's episode, Cody and Justin are joined by Diego Corzo from House Hacking Club.
His story is incredible and highlights why so many view America as the land of opportunity.
Diego didn't even know he was undocumented until he attempts to get a drivers license. He faced a ton of obstacles but never stopped trying.
Some luck and hard work meant he ended up qualifying for the Defense Action on Childhood Arrivals and DREAMER acts.
Now Diego is living a successful life, spreading his story through places like TED talks...and yes paying a healthy sum of taxes.
So go take a listen, leave that 5-star review and give us some feedback!
Episode Summary
Diego's family came to the United States on a VISA but it lapsed and left Diego here undocumented as a child
He didn't even realize it until he started trying to apply for a drivers license and didn't have all the necessary paperwork
He hits more roadblocks when he looks to college
Eventually, he would get into Florida State University
He could make money to help pay for college by building and selling study guides to fellow students or building websites
Things seemed to be going Diego's way until he realized he couldn't actually work for anyone in his current status
Then came the DACA and DREAMER programs under the Obama administration
This gave Diego a chance to work and be as successful as any other kid raised in America
He wasn't satisfied with the status quo though
Diego came across the Book: Rich Dad, Poor Dad and it changed his whole view on life
From then on, he knew his focus was to have assets and make his money work for him and not the other way
This led to the first of many house hacks and his entry into real estate
He actually bought his first home at age 23
After three years he quit his full-time job as a software developer and now owns a plethora of properties
Diego is now a Realtor in Austin, TX and continues to grow his rental property empire

Key Takeaways
Someone has it worse: This one just jumped out at me. I always think about how life was different if I had a better start and then you see people who started so far behind those who we'd consider at the back. But he still succeeded.
Headlines are people: Man, when we see talking heads on TV, regardless of what side you're on, it's so easy to forget that things are complicated and that these are real people who are impacted greatly by the decisions and laws we're considering.
Your message is important: If I was Diego, I'd be terrified to tell my story from worrying about what might happen to my family but he realized he could inspire so many people. It's not even about having a great story. Your story will be more relatable to some person than any other story they could hear. So tell it.
Call to Action
Imagine a young Diego scenario. No one can hire you but you need a job. What skills can take advantage of, what creative money making opportunities are you prepared for in case someone else isn't around to hire you.
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 Diego!
House Hacking Club
More in-depth look at Diego
Diego's TED Talk
Contact Diego:
Twitter
Facebook
Email
Learn More About Your Hosts:
Fly to FI (Cody’s Blog)
Saving-Sherpa (Justin’s blog)
46 min
July 09, 2019 The Dreamer’s Path to FI | Diego Corzo
In today's episode, Cody and Justin are joined by Diego Corzo from House Hacking Club.

His story is incredible and highlights why so many view America as the land of opportunity.

Diego didn't even know he was undocumented until he attempts to get a drivers license. He faced a ton of obstacles but never stopped trying.

Some luck and hard work meant he ended up qualifying for the Defense Action on Childhood Arrivals and DREAMER acts.

Now Diego is living a successful life, spreading his story through places like TED talks...and yes paying a healthy sum of taxes.

So go take a listen, leave that 5-star review and give us some feedback!
Episode Summary

Diego's family came to the United States on a VISA but it lapsed and left Diego here undocumented as a child
* He didn't even realize it until he started trying to apply for a drivers license and didn't have all the necessary paperwork
* He hits more roadblocks when he looks to college
* Eventually, he would get into Florida State University
* He could make money to help pay for college by building and selling study guides to fellow students or building websites
* Things seemed to be going Diego's way until he realized he couldn't actually work for anyone in his current status
* Then came the DACA and DREAMER programs under the Obama administration
* This gave Diego a chance to work and be as successful as any other kid raised in America
* He wasn't satisfied with the status quo though
* Diego came across the Book: Rich Dad, Poor Dad and it changed his whole view on life
* From then on, he knew his focus was to have assets and make his money work for him and not the other way
* This led to the first of many house hacks and his entry into real estate
* He actually bought his first home at age 23
* After three years he quit his full-time job as a software developer and now owns a plethora of properties
* Diego is now a Realtor in Austin, TX and continues to grow his rental property empire

Key Takeaways

* Someone has it worse: This one just jumped out at me. I always think about how life was different if I had a better start and then you see people who started so far behind those who we'd consider at the back. But he still succeeded.
* Headlines are people: Man, when we see talking heads on TV, regardless of what side you're on, it's so easy to forget that things are complicated and that these are real people who are impacted greatly by the decisions and laws we're considering.
* Your message is important: If I was Diego, I'd be terrified to tell my story from worrying about what might happen to my family but he realized he could inspire so many people. It's not even about having a great story. Your story will be more relatable to some person than any other story they could hear. So tell it.

Call to Action

Imagine a young Diego scenario. No one can hire you but you need a job. What skills can take advantage of, what creative money making opportunities are you prepared for in case someone else isn't around to hire you.

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!
46 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…