The Financial Independence Show

By Cody Berman and Justin TaylorBusiness Entrepreneurship Investing Careers

Favorites
93
Followers
Typical duration
47 min
per episode

Based on Podcast App listening data

The Financial Independence Show episodes

December 11, 2024 Financial Freedom in 3 Years (Cody’s FI Journey Explained)
Someone recently asked me: "How did you reach FI?"
I didn't have a great answer for them that didn't take 30+ minutes to explain.
So, I recorded a podcast episode outlining my entire FI Journey - all the numbers, all the income streams, all the expenses, year over year.
Below are the notes I created to guide the episode.
2016
Read the 4-Hour Workweek
Started my first real business, Arsenal Discs
Learned how to build a website, marketing, sales, networking, negotiations, pricing, product design… all the HARD way
2017
Discovered FI through Mr. Money Mustache
Started listening to podcasts like ChooseFI and Afford Anything
Read books like Simple Path to Wealth and Your Money or Your Life
Learned about side hustles, taxes, the 4% rule, etc.
Despite all this, didn’t really have any money since I was paying for college
Locked in job for July 2018, plan was to work 7-10 years to hit FI
2018
Went to CampFI in January and FI became “real”
Lived in Australia with lots of time on my hands and started side hustling after being unable to find a regular job
Blog launched in April 2018 to document my journey
Started working as a commercial RE lender in July 2018 once I returned to the U.S.
All-in comp was $80-85k
Knowing that FI existed was a blessing and a curse
Launched podcast in August 2018 (nothing else like it)
FinCon 2018 (CampFI on steroids) - met Grant and others
By the end of that year, I had tried a dozen new side hustles (blogging, podcasting, freelance writing, building websites, editing podcasts, affiliate marketing, digital products, etc)
Income: $44,000, Net worth: $75,000, Stock market: -6.24%
2019
Quit my corporate job on January 31, 2019 with $30,000+ saved
Side hustles were bringing in $1,200 per month, but my expenses were the same ($450 rent, paid off car, super frugal)
Financial Freedom book tour March-May of 2019
Teamed up with Julie to launch Gold City Ventures in June 2019
So many people asking for 1-on-1, wanted to teach at scale
Most of my time after that was spent working on Gold City Ventures
Practicing my craft to teach better
Managing a community, recording & packaging content, hiring people
Originally launched E-Printables, a blogging course, and a freelancing course
LOTs of learning lessons from this business
Income: $96,000, Net worth: $179,000, Stock market: 28.88%
2020
Went all-in on digital products (dropped blogging and freelancing from GCV)
Etsy shop, Shopify store, templates, etc.
Continued to live extremely frugally (spending less than $25,000/year)
Bought 3-unit house hack in September 2020
$235,000, we lived in the basement, rent $2,200, expenses $1,700
Bought duplex in November 2020
$170,000, rent $2,250, expenses $1,350
Bought 3-unit house hack in December 2020
$315,000, we moved to 1BR/1BA, rent $2,600, expenses $2,100
First house hack jumped to $3,000 in rent once we moved out
Income: $198,000, Net worth: $392,000, Stock market: 16.26%
2021
Started freelancing for Motley Fool (who acquired MillennialMoney.com)
Extra $10K/month, SEO, “thinking big”, awesome team
Bought triplex in May 2021
$245,000, rent $2,900, expenses $1,900
~$200,000 in down payments came from digital product income
Gold City Ventures continues to grow rapidly
Income: $403,000, Net worth: $1,035,000, Stock market: 26.89%
Financial Freedom!
Had RE making $3,000+ in cash flow, $500,000+ invested in the stock market
In addition to the semi-passive $20,000+ per month I was earning with digital products
Since I reached financial independence, I have continued to work on my main business, Gold City Ventures and invest 90%+ of my income into index funds and real estate.
Links from the Episode
CodyDBerman.com (previously FlytoFi)
The FI Show (first episode)
Gold City Ventures
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)
23 min
December 04, 2024 1 Year Since Retirement
Justin retired 1 year ago today!
What did he do? How does he feel? Did the numbers work out as expected?
Luckily for you, he's dropped all the answers to that in the show with the highlights below.
Read on for Justin's notes:
Numerical Highlights from Year 1:
Averaged around $2500/mo or $30k/yr spending
Networth increased by ~400k ($1.7M -> $2.1M)
Continued to save money
4% SWR + Passive Income = ~13k/mo or $156k/yr if I wanted
Retirement Feelings Explained:
Relaxed: just being yourself and no corporate coating,
Awkward: Realizing every American interaction with someone starts off with work followed by me trying to explain the situation and balancing the outward perception from to
Proud: as someone who is often hard on themself for not sticking to things, financial independence took real commitment for ~9 years.
Scared: that I’ll have great ideas I want to try, memories I want to make, relationships I want to strengthen, or things I want to discuss… but discover that those I want to do it with don’t want those things at all
Relieved: After a year, I find similarities to the relief I felt over telling everyone I gave up alcohol. Saying aloud that I’ve done something that 99% of people will never do felt very weird at first, but then I adjusted to that 1% weirdo being my story, and the people who truly care about me let you be that 1% weirdo. And that exchange ends with a lot of relief.
Responsible: I feel a responsibility to push the people I love the most to take ownership of their financial lives
Satisfied: Not from a mentality that everything that needs to be accomplished is accomplished. My sense of satisfaction comes from knowing that the first year of retirement was worth every decision and delayed gratification even if it’s the only year of financial freedom I ever get.
Detailed Breakdown of Year 1 Activities:
December 2023
Hosted my niece for a week in Austin
Made custom laser engraved gifts for my mom and good friend
Tried Franklins BBQ and Interstellar BBQ for the first time
Planned and purchased everything for a kitchen remodel
Saw several movies
Redesigned ripped dip packaging
Attended consumer product goods meetups
Went to the trail of lights
Did a baby kangaroo feeding experience
Redesigned my Dad’s upstairs to be a sudo apartment in Mississippi
Ripped up old flooring and prepped concrete for staining
Replaced all the windows in the flip
Spent two weeks in Mississippi
Enjoyed Christmas with my family
Tons of workouts
January 2024
Two weeks in Mississippi
Someone hit and totaled my Tesla
Redid Kitchen in Leslie’s family beach house
Lots of other projects there like replacing all the hardware for the doors
Spent a week on the Texas coast
Saw several movies
Lots of cooking
Lots of workouts
Dove into Ninja Creamis
February 2024
Spent two weeks on the Texas coast
More beach house remodeling
Went to the Austin Symphony
Took the train to Dallas
Completed the purchase of my New (to me) Tesla Model Y
Spent a couple of days with my best friend in Dallas
Spent a week in Mississippi
Lots of remodeling on the flip house
Attended a Rodeo
Took my niece to a concert in Nashville
March 2024
Spent two weeks in Mississippi
Played golf
Replaced doors and painted the exterior of the flip house
Drove back to Austin
Tried a new boxing class
Did my first Dexa scan (10.1% body fat)
Spent a week in Miami
Attended Ultra music festival
Went to two additional concerts
Drove back to Texas Coast
April 2024
More remodeling on Texas beach house
Found outfits for our engagement (surprise to Leslie)
Made pies/desserts for Leslie’s Brother’s 50th birthday
Spent two weeks in Portugal
Got engaged
A quick trip to Paris
Volunteered for Preservation Austin home tour
Spent a week in Puerto Vallarta
May 2024
Hosted my parents in Austin
Threw an engagement party
Another trip to the Texas Coast
Yoga wellness day trip
DeadMau5 show in Austin
Spent 10 days in Chicago
Attended Beyond Wonderland music festival in Chicago
Tons of catching up with friends, sporting events, new restaurants, museums etc
June 2024
4 more days in Chicago
House sitting for Leslie’s brother
10 days in Mississippi
More work on the flip house
Cookout for Father’s Day
Consumer Product Goods event
Spent a week in Alaska
Took a private plane flight around the glaciers and mountains
July 2024
Spent two weeks across Oregon/Washington
Odesza concert at The Gorge on the 4th of July
Oregon Coast stay
Clamming
Exploring Portland
Berry Picking
Beautiful hikes
Highland cow experience
House sitting for Leslie’s Brother
Week in Puerto Rico
August 2024
Traveled to southern Mississippi
Attended my Aunt’s wedding
Spent a couple of days with my Aunt
Spent over two weeks in Africa
Hiked Kilimanjaro
Did African Safari
September 2024
Boat day Lake Austin
Knocked off some local Austin restaurants from the wishlist
Began planning our 6 month international trip
Started taking running more seriously
Mississippi State vs Texas football game
Hosted friends from Mississippi
Kygo concert
October 2024
F45 photoshoot
Celebrated Rhonda's birthday
Staycation downtown Austin
Maggie Rogers concert
ACL
Domdolla concert
Baking spree (first biscuits, high protein desserts)
Started building cookbook
Vintage culture concert
Ride along in a rally car
Leslie 10yr college reunion
November 2024
Austin Networking getaway weekend
Wedding Expo
Hosted 5k / Friendsgiving
Spent 11 days in Dallas with my best friend
Creed concert
Hyrox race
4 days in Mercury Texas for Thanksgiving
Wooli concert
It's obvious that Justin didn't get bored in retirement or feel as though he was just sitting around being worthless.
We hope you enjoyed this detailed breakdown and case study of what a real example of retirement looks like.
If you found value in the episode, please share it with a friend!
Links from the Episode
Justin's Retirement Announcement Episode
$5,000,000 Net Worth and 2,000,000 Downloads Episode
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
November 27, 2024 Election Aftermath, Controlling Your Controllables, and Giving Thanks
In this episode, Cody and Justin discuss what they're thankful for and the importance of focusing on what you can control.
We recorded this episode shortly after Election Day.
Elections leave a lot of people feeling defeated and a lot of people feeling like they've won.
The reality is that neither is true.
You are the most critical variable in your financial independence journey, regardless of who's sitting in the Oval Office.
The key is to focus on what you can control and to appreciate the privilege that you have.
Even if things don't seem rosy, the hardest experiences often shape us the most and transform us into better versions of ourselves.
We hope this inspires you to evaluate your life, appreciate your advantages, spend some time in gratitude, and get inspired for your next chapter in life.
If you found value in the episode, please share it with a friend!
Links from the Episode
The Purpose Code
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)
25 min
November 20, 2024 Healthcare on the FI Journey | Lynn & Jackie (Replay)
It's open enrollment season, meaning making healthcare choices for the upcoming year.
So for today’s episode, we're featuring FI healthcare experts Lynn Frair and Jackie Cummings Koski.
We cover:
HSAs
Healthshare Ministries
Subsidized Care
Deductible and Out-ot-Pocket Maximums
Open Enrollment
State Healthcare Exchanges
End-of-life Care
Emergency Funds
and more!
If you enjoyed this episode, please share it with a friend!
Links and Resources
Lynn's Instagram
Jackie's Instagram
Heatlhcare.gov
WexInc HSA vs Traditional Calculator
Mad Fientist article on HSAs
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)
58 min
November 13, 2024 This Side Hustle Will Blow Your Mind
Cody joins Amy Porterfield on the Online Marketing Made Easy podcast to talk all about digital products.
He covers topics such as:
The best platforms to sell digital products
How to find digital products you might already own
How to get more subscribers using printables
How to make more money with digital products
How to add digital products to your existing business
And all about what’s inside his E-Printables course.
Hope this helps someone else start their digital product journey.
If you enjoyed this, please share this episode with a friend!
Links from The Episode
E-Printables Course (with FI Show discount)
Original episode on Online Marketing Made Easy
YouTube Interview
https://www.youtube.com/watch?v=E_ELCryyjEM
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)
33 min
November 06, 2024 Tennis Olympian Turned Real Estate Pro | Sunitha Rao (Replay)
Our friend Sunitha Rao came from humble beginnings.
Her parents spent most of their lives in one of the poorest regions in India.
Despite all odds, Suni became a professional tennis player and traveled the globe playing in different tournaments.
Years later, she turned her competitive nature toward real estate.
Her real estate career quickly started to explode, and she's been addicted ever since.
This episode originally aired in 2019, but it was so good, we decided to replay it.
If you enjoyed this episode, please share it with a friend!
Links from The Episode
Suni's Original Episode from 2019
Suni's LinkedIn
Suni's Instagram
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)
36 min
October 30, 2024 $5,000,000 Net Worth & 2,000,000 Downloads
2,000,000 downloads!
And it's all thanks to listeners, viewers, and readers like yourself.
In today's episode, we reflect on everything that has changed and everything that hasn't.
Cody & Justin have increased their net worths by a combined $5,000,000!
Justin retired 10 years sooner than he ever imagined.
Cody created a multi-seven-figure business around an idea he never even considered.
Those are just a couple of big highlights with other highlights including:
New Investment Strategies
Flips
AirBnB - ownership and management
Covered Calls
Syndications
Hard Money Loans
Lifestyle Changes
Girlfriends have become Wife/Fiance
Justin stopped drinking
Cody and Justin are in even better physical shape than 6 years ago
They both focus more on value than purely price
Justin listens to EDM and drinks coffee....never saw that coming
What Hasn't Changed
Keeping the "big 3" expenses low
The majority of our investments are still total stock market funds
Experiences are still the priority over material objects
We continue to do this show because of you all.
Every time we hear a story of how we inspired someone or introduced them to a concept that is now helping them live the life they dreamed of, it pushes us to keep going.
We hope you found value in the episode, if you did, subscribe, leave a review, and share with a friend!
Links from The Episode
2018 Reflection, 2019 Goals episode
2019 Valentine's Day episode
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)
46 min
October 23, 2024 Freedom, Resilience, Everest | Jane Kanizay
Jane Kanizay went from financial freedom to divorce to financial freedom again while achieving amazing physical feats along the way.
Jane is an adventurer, educator, activist, speaker, artist, and mother of four who successfully climbed Mt. Everest with her 19-year-old daughter on May 14th, 2022.
Jane climbs with the message of Teach Us Consent to campaign for holistic consent education in the school curriculum and to advocate for the prevention of violence against women. This mission helps push her to her physical and mental limits.
High-altitude mountaineering is one of the deadliest sports in the world.
It's also very expensive and hard to imagine being possible for most teachers.
That's where Jane's background in real estate shines.
She built a portfolio that is now funding her amazing adventures.
She also gives us an in-depth breakdown of the financial abuse she tries to educate on and advocate against.
Some signs of this abuse from a partner might include:
Controls access to finances, won’t let you access bank accounts or credit cards
Expects you to pay for bills, groceries, and other basic necessities but gives you little or no money to cover those costs
Forbids you from working or deliberately sabotages your ability to get or hold down a job
Refuses to work or contribute to family expenses
Takes out loans or accrues debt in your name
Doesn’t include you in significant investment or banking decisions
Refuses to pay or evades child support
Hides assets
Incurs fines or infringements in your name then expects you to pay them
Jane's story is so inspirational and we hope that she helps you get out of your comfort zone and achieve the seemingly impossible.
If you enjoyed this episode, please share it with a friend!
Links from The Episode
Jane's Instagram
Jane's Website
Teach Us Consent
YouTube Interview
https://youtu.be/JUHxxcX8AKY
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)
44 min
October 16, 2024 $46 Per Day to Travel The World
In this episode, Cody and Justin discuss how Justin will travel the world for 6 months at a shockingly low price.
In total, the trip will cover 161 days as currently planned.
The cost is only $46 per day!
That cost includes flights, trains, ferries, accommodation, and activities for one person.
Below you can find the locations Justin will be visiting,
We've also included the packing list since Justin is only taking a small backpack for the entire trip.
Locations include:
Philipines
Manila
Coron
El Nido
Indonesia
Ubud
Gili Islands
Nusa Islands
Vietnam
Hanoi
Ninh Binh
Cat Ba
Thailand
Krabi
Koh Lanta
Chiang Mai
Bangkok
Amsterdam
Chur, Switzerland
Italy
Milan
Rapallo
Monterosso al mare
Florence
Rome
Naples
Ischia
Lipari
Palermo
Sardinia
Barcelona
Packing List:
Backpack
Rainjacket
5 shirts
4 pair of socks
5 pair underwear
Midlayer
Windbreaker w/ kangaroo pouch
Toiletries
Toothbrush
Hat
Portable battery
Phone Charger
Travel adapter
5 pocket pant
Light down jacket
half length Buff
Khaki shorts
Sandles
4 pair of running shorts
eyemask
headphones
microphone
The craziest part? Justin is going to be breaking even from this trip due to the Airbnb income from his primary residence (covered in this geohacking episode).
We hope this inspires you to consider that big trip you thought you couldn't afford.
We hope you found value in the episode, if you did, subscribe, leave a review, and share 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)
43 min
October 09, 2024 Buy What You Love Without Going Broke | Jen Smith
One of the questions we get asked most often is for guidance on what someone should and should not spend money on.
The answer is always... it depends.
What's important to me, may not be important to you.
Jen Smith is here to give everyone the framework to make those tough decisions.
This framework is called Value Based spending.
Jen lays it all out in her new book, "Buy What You Love Without Going Broke".
Long-term listeners may remember Jen from episode 58, "Frugality without Deprivation," in 2019.
She's also still rocking things over at the Frugal Friends Podcast.
In today's episode as we discuss the book you'll find answers to the following:
Why is it so hard to stop spending money?
What is values-based spending and how is it different?
What’s the problem with telling someone a budget will solve their spending problem?
What’s the point of learning values-based spending when the bigger issue is that we don’t earn enough money?
And so much more.
If you enjoyed this episode, please share it with a friend!
Links from The Episode
Pre-order the book!
Frugal Friend's Podcast
YouTube Interview
https://youtu.be/dsl4EQekk4M
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

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…