The Struggle is Real: Financial Independence Strategies for Young Adults

The Struggle is Real: Financial Independence Strategies for Young Adults

By Justin Lee PetersBusinessEducationInvestingHow ToCareers
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The Struggle is Real: Financial Independence Strategies for Young Adults episodes

  • Getting the Courage to Become a Business Owner | E71 Mason Burchette
    I feel like I always gravitate towards stories about taking a chance. Ahmad Jabbir’s story about how he went above and beyond during his job interview comes to mind.
     
    I really enjoy them and these stories provide a much needed reminder. As I get older, I feel like I’m making more conservative choices. If that is true or not, objectively I’m not sure I could say. I think it is important to try things that might include risk, assuming it has positive upside and you’ve considered how you can minimize the negative.
     
    I invited my friend Mason Burchette back on the podcast. He first appeared on The Struggles is Real on episode 30 where we discussed some of his best advice from his book, How to Make Sure You Never Get Promoted: An Antithetical Guide to Succeeding in Your Career.
     
    Aside from wanting an excuse to catch up, I invited Mason back on the show because he’s made a life changing decision. He left his role as a Director of Marketing and Development to start his own business.
     
    Knowing Mason has a similar risk tolerance as me, I wanted to understand how he came to this decision. We also talk about legacy, business principles, and why Chick-fil-A isn’t a chicken company but actually a leadership development academy.
     
    Show Notes:
    [2:31] Going from employee to entrepreneur
    [5:55] Building a legacy for future generations
    [8:44] Evaluating risk on the value you can gain, not what you can lose
    [12:43] Why Chick-fil-A isn’t a chicken company but actually a leadership development academy
    [16:09] How to leave your job gracefully
    [21:53] How to avoid living paycheck to paycheck by delaying gratification
    [39:43] Balance business with family
     
    Mentions:
    26 Year Old Director Shares Advice on How to Quickly Rise Through the Ranks I E30 - Mason Burchette (Apple Podcasts or Spotify)
    How to Make Sure You Never Get Promoted: An Antithetical Guide To Succeeding in Your Career by Mason Burchette
    How to Always Live Paycheck to Paycheck: An Antithetical Guide to Fixing Your Finances
    Financial Peace for the Next Generation by Dave Ramsey
    The Richest Man In Babylon by George S. Clason
     
    More of Mason:
    The Crush It Team website
    Mason Burchette's personal website
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    45 min
  • Therapist on Why Your 20s Isn’t for Deciding Your Path But Instead Exploring Possibilities | E70 Grace Dowd
    Going into college, Grace was pre-med and planning on becoming a doctor. She found out through taking classes and trying internships, that this wasn’t the right path for her. Instead, her twisted journey led her to therapy.
     
    Although this wasn’t her plan going into college, Grace shares that looking back now, she’s really appreciated the unclear route. What’s the fun in having an obvious and predictable plan? But I get it, no one likes feeling lost either.
     
    Now as a therapist, Grace supports her clients as they navigate their own ups and downs of life.
     
    She has transitioned from solo therapist to building her practice, Grace Therapy & Wellness, and if you are a Texas resident, I recommend checking her out.
     
    By listening to this episode, you’ll learn how to use value cards to uncover what’s important to you, how to listen to your nervous system, and what happens when you ask better questions.
     
    Show Notes:
    [2:23] Developing communication skills as a therapist
    [9:58] Grace’s story to finding therapy
    [19:11] What’s it like being in your 30s
    [25:18] Life transitions and finding your path in your 20s
    [28:24] Using value cards to uncover what’s important to you
    [38:25] Polyvagal theory and the nervous system
     
    Mentions:
    Larry Hagner (E56) on The Struggle is Real - Apple Podcasts or Spotify
     
    More of Grace:
    www.GraceTherapyAustin.com
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    55 min
  • Feeling Overwhelmed? Mom of Triplets Discusses Why Simplifying Might Be the Answer You’ve Been Looking For | E69 Rose Lounsbury
    Rose Lounsbury is a simplicity coach, speaker, and author of the book, Less: Minimalism, For Real.
     
    Rose’s minimalist journey started with being an overwhelmed mom, and I really mean overwhelmed. She is the mom of triplets.
     
    She’d come home from work, start her second shift of being a mom, and finally get her 3 2-year-olds to bed just in time to spend her last waking hour cleaning up the mess from the day. Rose was tired of this but didn’t know what to do until a friend mentioned minimalism.
     
    She immediately resonated with the lifestyle and spent the next year purging 70% of her possessions.  Rose found this lifestyle so impactful that she began applying simplification into other areas of her life such as money and her career.
     
    Now, Rose helps overwhelmed people create open spaces in their homes, workspaces, and most importantly, their minds, by letting go of the excess stuff that gets in the way.
     
    We talked extensively about how the concept of simplifying can be applied to different areas of your life. We also start the conversation discussing overachievement and the negative impact associated with defining yourself by how much you have gotten done.
     
    Show Notes:
    [2:23] Betting a haircut on a accomplishing a goal
    [9:33] Rose’s struggle with overachievement and what she did about it
    [24:14] How triplets lead to home organizing
    [30:26] Getting exposed to minimalism 
    [33:01] Rose’s hardest step: letting go of her teaching supplies
    [42:03] Minimalism vs simplicity
    [47:17] How using a budget simplified her finances
     
    Mentions:
    E33 - Lucy Milligan Wahl
     
    More of Rose:
    Less: Minimalism, For Real by Rose Lounsbury
    Website
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    1 hr 6 min
  • Psychiatrist on Social Jetlag, How Marijuana Affects Sleep, and Managing the Anxious Mind | E68 Jennifer Reid
    There is nothing better than waking up in the morning feeling refreshed and energized. I love a good night’s sleep. On the flip side, if I didn’t get enough quality sleep, I might as well just take the L and call it a personal day.
     
    As soon as I learned this about myself, I became attune to good sleep habits. I have no idea how I survived through college with an inconsistent sleep schedule, late night drinking, and early morning call times. I never looked at sleep as a critical aspect of my health like I did exercise and food.
     
    If you take your sleep seriously like me, or are interested in improving in this area of health, you are going to love this conversation today.
     
    Dr. Jennifer Reid is a board-certified psychiatrist who focuses on insomnia and anxiety. She is also an award-winning medical educator, regular contributor to Psychology Today with her blog, Think Like a Shrink, and the Host of the podcast, The Reflective Doc.
     
    Jennifer really impressed me with her extensive knowledge of sleep. We cover a ton of great topics including marijuana and sleep, social jetlag, and her thoughts on sleep tracking wearables. 
     
    We also conclude the episode discussing anxiety. Dr. Reid gives really great actionable advice on reframing “what if” claims to “if then” statements.
     
    Show Notes:
    [2:08] Data around cannabis and what Jennifer learned
    [9:50] Why is sleep important
    [16:49] Chronotypes and how sleep shifts throughout your life
    [22:14] Social jetlag
    [25:04] Sleep hygiene tips and alcohol use
    [30:16] Caffeine and sleep drive
    [34:44] Managing jet lag when traveling
    [36:39] Jennifer’s thoughts on wearables
    [40:19] The Anxious Mind and changing what if to if then
     
    Mentions:
    The Growth Mindset by Carol Dweck
     
    More of Jennifer: 
    Website
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    53 min
  • What You Could Learn from Traveling the Globe | E67 Sydney Summerlin
    I try not to dwell on many regrets in life but one opportunity I wish I would have taken advantage of was my university’s study abroad program. I went on my first international trip outside of North America in 2015, the week following my college graduation.
     
    I knew I was going to have fun and I was excited to explore Europe but I didn’t realize how much it would change my perspective on life.
     
    I’ve been prioritizing traveling ever since then and it’s one of the few universal suggestions I encourage other people to try. One person who needs no encouragement is today’s guest, Sydney Summerlin.
     
    From a young age, you could find her traveling the globe. At first, Sydney’s mom accompanied her on most of these trips. Now, she does a lot of traveling solo or with her twin sister.
     
    One of the most impressive characteristics of Sydney is her emotional intelligence. Her open-mindedness, empathy, and curiosity are obvious. I’m guessing all of her traveling helped refine these qualities.
     
    In this episode, we’ll be talking about traveling along with Sydney’s quest into healthcare where she is planning on working in pediatric oncology.
     
    Show Notes:
    [2:14] Why everyone should consider traveling
    [11:07] What did Sydney learn from other international healthcare systems
    [32:05] Learning to listen and empathize
    [39:17] Staying positive while applying to med school
     
    More of Sydney:
    Instagram: @syd_with_a_y
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    53 min
  • How to Become an Awesome-Sauce Manager, Deal with Underperforming Employees, and Build a Competent Team | E66 Makeda Andrews
    I never realized how much of an impact my manager could have on my job satisfaction until I’ve had both the good and the lousy. Experiencing both has assured me one thing, I want to become an exceptional leader.
     
    To continue learning, I consume a lot of leadership content. One of my favorite creators I come across is Makeda Andrews. I really liked her straight-forwardness, relatable advice, and of course, all of the bright colors.
     
    I was actually surprised to find out Makeda started her professional career not having any interest in managing a team one day.
     
    But that script didn’t last long. 6-months into the job, Makeda was approached by the President of the company and offered an opportunity to manage a team. With a little reluctance, she accepted the position.
     
    Makeda eventually led her department to becoming a strategic division of the company. Makeda is now a leadership coach where she works specifically with first time managers to become confident, competent and effective leaders.
     
    I know so many of you are currently moving into or towards leadership positions in your company right now. Makeda shares a lot of tangible advice like how to deal with an underperforming employee, how to guide team members to solve problems, and when to speak in outcome versus activity.
     
    Show Notes:
    [3:52] The responsibility that comes with being a leader
    [13:02] Makeda’s leadership journey
    [15:52] The mentor Makeda needed to build her confidence
    [24:04] Guiding team members to solve problems
    [28:22] Becoming an awesome-sauce manager
    [32:13] How Makeda got into leadership coaching
    [36:04] Speaking in outcome vs activity
    [40:16] Using the ACAC model for underperforming employees
     
    More of Makeda:
    www.makedaandrews.com
    Makeda Andrews on YouTube
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    53 min
  • How the Podcast Got Started | E65 Andrew Biernat
    I have something different for you today. This is a replay from my good friend Andrew Biernat’s show: Your Personal Growth, Personal Brand Podcast.
     
    Andrew asked me a lot of great questions about The Struggle is Real including how the show got started, how I go about selecting topics and guests, and the one person who really influences my conversations.
     
    Of course, it is hard for me to take my podcaster hat off. I turned the tables and asked Andrew a few questions as well. One thread in particular is a story about the dark side of personal growth.
     
    We also conclude with a great conversation about some of our career missteps and how we’ve both used our podcasts to explore business adventures.
     
    Show Notes:
    [1:09] How The Struggle is Real (TSIR) got started
    [3:49] Interesting guests on TSIR recently and how we select topics
    [7:12] The dark side of personal growth
    [13:27] The journey of building TSIR
    [19:34] Using TSIR as my personal development plan
    [30:23] The 1 person that influences TSIR the most
    [33.:56] How Justin and Andrew’s business adventures lead to career relief
     
    Mentions:
    Tools of Titan by Tim Ferriss
    Tribe of Mentors by Tim Ferris
    Atomic Habits by James Clear
     
    More of Andrew:
    Your Personal Growth, Personal Brand Podcast
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    53 min
  • Reaching Financial Independence Without a 6-Figure Salary | E64 Jackie Cummings Koski
    You all know I’m a sucker for a good early retirement story. Jackie Cummings Koski retired at 49 years old and now spends her time creating a financially literate society.
     
    Retiring in your 40s is impressive in itself but Jackie did this with no head start. She grew up in poverty with her dad and 5 siblings. She barely graduated college with passing grades because she had to work full-time. Then Jackie went on to raise her daughter as a single mom after an early divorce.
     
    Does that sound like a candidate for early retirement? I don’t think so but Jackie made it happen through a lot of self-education and hustle.
     
    Speaking of education, Jackie became quite the expert in healthcare and in this episode, Jackie shares a lot of methodologies for cutting your healthcare costs.
     
    Of course Jackie is a huge advocate for my favorite tax-advantage account: the HSA. I have never seen a health savings account as well-funded as Jackie’s. Last we spoke, her HSA had over $150,000 in it..
     
    Show Notes:
    [1:43] Jackie’s story from poverty to financial independence
    [19:40] How Jackie retired by 49 year olds without ever making a 6-figure salary
    [22:57] Is an HSA right for you?
    [32:06] How Jackie grew her HSA to $150,000
    [39:14] Tips for cutting healthcare costs
     
    Mentions:
    Why You Should Consider Having a Health Savings Account (HSA) | E40 Sean Mullaney
    CostPlus Drugs (Mark Cuban's pharmacy company)
    goodrx.com
     
    More of Jackie:
    Jackie’s Linktr.ee
    VisuallyAmber.com
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    1 hr 6 min
  • Sex is a Learned Skill, Overcome Bedroom Boredom, and Simple Techniques to Be a Better Lover | E63 Susan Bratton
    With high school teachers and porn stars being our instructors, I’m not surprised sex is awkward and unrealistic.
    But at least we have our friends to talk to, right? Well through my personal experience, we are comfortable boasting about the highs of our sex life but I don’t hear too much conversation about body image issues, pre-mature ejaculation, and depleting sex drive.
    As you can see from the title and our intro so far, today’s conversation is going to be a bit explicit. Our guest is a straight-shooter so this is your warning to look out for young ears.
    Speaking of today’s guest, joining me is Susan Bratton. For 20 years, Susan has been empowering singles and couples across the gender spectrum to have hot, intimate sex. Susan believes that shame-free, frequent sexual pleasure is every person’s birthright.
    Susan wasn’t always this sex expert. Like most of us, she lacked the know-how in order to maintain intimacy and passion in her relationship. After 11 years of lackluster sex in her marriage, she hit a tipping point, and told her partner it wasn’t working. But instead of giving up, they went to therapy, frequented sex workshops, and started a journey to transform their sex life.
    With this episode, I hope to de-stigmatize the discussion around sex. It’s a skill. You have to put effort into learning how to have great sex and there's nothing wrong with that. It’s okay to lack confidence in this area. I’m guessing there hasn’t been a lot of real education up until this point.
    But that changes here. We jump right into orgasms, discuss simple bedroom techniques you can start practicing with, and Susan shares ideas on how to reignite your sex life.
     
    Key Takeaways:
    [4:54] How to overcome the casm-gasm
    [14:09] Orgasmic cross training
    [16:23] Bullseye touching technique
    [20:16] Can a couple be happy together without good sex?
    [22:23] Initial steps to reignite your sex life and overcome bedroom boredom
    [27:33] Creating a sex bucket list
    [37:00] Spiritual sexuality
    [43:11] Asking for what you want…when you don’t know what you want
     
    Mentions - Books:
    Women's Anatomy of Arousal by Sheri Winston
    Sexual Soulmates by Susan Bratton
     
    Mentions - Websites:
    BetterLover.com
    ExpandHerOrgasmTonight.com
    SexualSoulMatePact.com
    PersonalLifeMedia.com
     
    More of Susan:
    SusanBratton.com
    Instagram: @susanbratton
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    1 hr
  • Meetings: No. 1 Time-Waster at the Office | E62 Darren Chait
    If you’ve spent any amount of time in the working world, you probably know how much meetings can consume the work week.
    I’m crazy and I actually track this metric. On average, I’ve spent 9.4 hours a week in meetings or 23% of my week.
    Meetings aren’t going anywhere. They seem to be the default modality of getting things done and I have to agree, meetings make sense for some situations.
    If I’m going to continue to spend a ¼ of my career in meetings, I want to be good at running them. Surprisingly, there are a lot of effective ways to have better meetings.
    Someone that knows a lot about this subject is today’s guest, Darren Chait.
    In 2016, Darren co-founded the company Hugo which is on a mission to make every meeting worth it. The product started as a simple Slack plug-in and transformed into a connected meeting notes platform.
    You’ll hear more about Darren’s story in this episode along with many actionable takeaways including how to use asynchronous work to limit meetings, how to take better meeting notes, and answering the question, “do we need a meeting?”, with the 3 Ds: decisions, discussion, and debate.
     
    Key Takeaways:
    [1:33] Opening for Justin Trudeau in front of 29K people
    [5:50] Why being a corporate lawyer made Darren the perfect person to solve how to have better meetings
    [9:25] The difference between being a corporate lawyer and a tech founder
    [13:14] Using the 3 Ds to evaluate when should you have a meeting
    [17:26] The 4-hour meeting week
    [20:26] How to decide who to invite
    [24:52] The benefits of asynchronous work
    [28:52] How to take better meeting notes
    [41:13] Using a parking lot to limit off-topic discussion during a meeting
    [44:29] Decision journal
     
    Mentions:
    Loom
    Hugo meeting templates
     
    More of Darren:
    hugo.team
    Twitter: @darrenchait
    LinkedIn: Darren Chait
     
    More of TSIR:
    Find show notes and more at https://www.tsirpodcast.com/
    Follow us on Instagram at https://www.instagram.com/tsirpod/
    53 min

About The Struggle is Real: Financial Independence Strategies for Young Adults

From the publisher's feed

This show is for 20-somethings who want to expedite their journey to financial independence.