Financial Independence / Early Retirement

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martinis and your money

Financial Independence / Early Retirement

Toward the end of 2015, I asked my private Facebook group about topics that they wanted to hear more about in 2016 and Financial Independence or Early Retirement was something that was near and dear to one of my listeners. So I was thrilled that Brandon from the blog, Mad Fientist , and host of the Financial Independence podcast agreed to join me to discuss this concept. Financial independence is a goal I give to all of my clients; and I hope this episode will motivate you to consider reaching for financial independence as well!

Don’t forget to check out Martinis and Your Money’s new sponsor, DIY Fund, and their FREE resources!

What are we drinking?

Brandon—A pint of Guinness from Scotland where he lives right now.

Shannon—A Bud Light

Podcast Summary

  • Brandon recently guest posted on the Frugalwoods blog about how NOT to pursue financial independence.
  • After stumbling upon Get Rich Slowly, Brandon learned of financial independence and started his journey towards it.
  • The wrong way to pursue financial independence is to let it take over your life and keep you from doing things you want to do.
  • Brandon’s obsession with achieving financial independence made him isolate himself from others and made him miserable.
  • Brandon’s biggest takeaway of his journey was that he should have been focusing on the present instead of hyper-focusing on his end goal.
  • A good way for people to think about the financial independence number is 25 X your annual expenses with a 4% withdrawal rate, adjusting for inflation annually and you can read Brandon’s article about this here.
  • Staying flexible is the key to financial independence.
  • Most people would say a perfect life is a life where you are not stressed about money and financial independence is that life.
  • It’s easier to think about what you want to do with the rest of your life at 60 years old instead of 30 years old, but establishing a direction for your life is extremely important.
  • Don’t be afraid of the hard work that comes with reaching for financial independence and try to enjoy the journey!
  • There are many other benefits to financial independence that go beyond the financial benefits.
  • Brandon’s advice to those wanting to pursue financial independence is to realize the power you have with a big savings account and embrace the challenges.

Random Three Questions

  1. What’s your biggest indulgence?
  2. What is your favorite traditional Scottish dish?
  3. What is your favorite book that really helped you on your journey to financial independence?

Are you pursuing financial independence? When do you think you will reach financial independence?

 

Connect with Brandon:

WEBSITE: http://www.madfientist.com/

TWITTER: @madfientist

FACEBOOK: https://www.facebook.com/madfientist

 

Connect with our sponsor, DIY Fund:

Let them know that Shannon sent you!

WEBSITE: www.diy.fund

TWITTER: @Diyfund

FACEBOOK: https://www.facebook.com/DIYFUND

 

 

 

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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

3 COMMENTS

  1. I am a fan of Dave Ramsey. Of all his books, my top choice is The Total Money Makeover: A Proven Plan for Financial Fitness. This just helps me up until now with my financial decision making and most advice given here in the book is very easy to follow especially on early retirement.

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