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PODCAST Four Common Self-limiting Beliefs In this episode we discuss some common self-limiting beliefs that hold people back from pursuing FI and how to overcome them. #1 – I don’t make enough money #2 – I don’t want to live a restricted life, one that requires sacrifice #3 – I’m not good with money #4 – I don’t have enough time Counter arguments Here are the counter arguments to the 4 self-limiting beliefs #1 – I don’t make enough money Ironically, one of the main influencers of the FIRE movement, Jacob Lund Fisker, author of Extreme Early Retirement, was not a high income individual. While attending the University of Basel in Switzerland, he lived on education grant which covered his modest living expenses. After he graduated and went to work his income increased. However, he continued to limit his living expenses to his education grant. His savings rate soared to 80%. Once his savings grew to 25 times his living expenses, he considered himself financially independent. Now according to conventional personal finance advice, you should save 10-15%. At that rate it takes between 5 and 10 years to cover one year of expenses. However, with a savings rate of 75%, it’s possible to cover 3 years of expenses for each year worked. The big takeaway is that income or wealth in relation to expenses is more important than absolute wealth. You adjust your expenses to your income constraints and or increase your income to live below your means in order to save. We’ve come across examples of people of modest means who are on the road to retiring earlier. Check out story 23 in Late Starter FIRE series which is titled Retire Early with a Low Income. Your definition of financial independence can be aligned with a version of FIRE that works for you. For example, if you have lower income, you need to save less if your goal is lean FIRE, barista FIRE or Coast FIRE. The bottom line is that income is not the sole determinant of whether someone can achieve FI. After all, why aren’t all high earners financially independent? (Because they aren’t living below their means!) #2 – I don’t want to live a restricted life, one that requires sacrifice Reducing spending is not about sacrifice. It’s about making spending decisions based on your values and goals. For example, you may have read or heard about people in the FIRE community chiding anyone who pays $5 for an espresso drink. But we believe that if that drink is something someone really values, then it’s OK. However, we recommend that they adjust other components of their discretionary budget to accommodate it. The accumulation of stuff doesn’t lead to happiness. Studies have shown that materialistic people are actually less happy than their peers. You need to find a balance between spending to live for today and saving to live well in the future. The practices of FIRE can help you figure that out. #3 – I’m not good with money There are many sources of financial information to help you learn about money. There are tools available to help you manage your money better. You don’t have to go it alone. You can engage financial advisors and planners to help. Plus there is the broad and diverse FIRE community available to you. #4 – I don’t have enough time People are living longer and healthier. There are actually several advantages that late starters have Peak earnings years Catch up contributions Lots of opportunity reduce expenses I wrote about Deb Jacobs of FI After 50. Deb is a late starter. She got interested in FIRE when a friend suggested that she check out the House of FI podcast. Here’s what Deb says about her late start. It’s entirely possible I can live another 30+ years so why not make the most of them? That’s why I invest in a healthy lifestyle and pursue FIRE. My advice is to start with one small change like cutting an expense. Small changes add up. Just get started! Getting started can be challenging because there’s a lot of information and approaches out there. That’s why we wrote our Quick Start Guide. It features 3 easy steps to get started on the road to financial independence. The post L2F 029 What’s Holding You Back From Pursuing FI? (Self-limiting Beliefs) appeared first on Later2FIRE.

PODCAST Before Claire and I return in September 2021 I have another archived episode for you – The U Curve of Happiness (studies have shown that unhappiness bottoms out at age 47). This one dates back to September 2018 and was released as an episode of the Retire Hoppy podcast. I love this episode for several reasons: the topic which is the U Curve of happiness; that it features my former co-host Roy Weinberg; and the beer segment which is why it’s called the Retire Hoppy podcast. The beer segment features a style of beer – brut IPA – which fortunately never caught on. I hope you enjoy this episode as much more than I enjoyed the brut IPA.  It’s presented exactly as it first appeared as an episode of the Retire Hoppy podcast. Can The U Curve of Happiness Be A Different Letter? One of the questions we raise and answer is whether the trajectory of happiness can also resemble a J  or a W? Get a preview of an upcoming topic –  Statement of Net Worth. The link takes you to an excel file that you can download. The post L2F 028 The U Curve of Happiness appeared first on Later2FIRE.

PODCAST This is a re-airing of the second podcast I ever did! (The show was called Retirement Journeys back then.)  It features then USA Today retirement columnist Rodney Brooks who today is a contributor for US News. Our topic is strategic retirement plans which include a financial plan and a life plan. Claire and I return in September 2021 with a new Later2FIRE episode. In the meantime, I hope you enjoy my conversation with Rodney Brooks! Strategic Retirement Plans Is more than a financial plan. It should include a plan for how you’re going to spend your time and often overlooked components such as an estate plan. It’s essential to get these plans documented. Plans need to be updated over time because life circumstances change. Many people are forced into early retirement for a variety of reasons – loss of job or health related is a common cause. A strategic retirement plan should include ways to deal with these disruptions. For example, an emergency fund is an important component that can help with the transition from losing a job. Many people don’t intentionally plan for Social Security and end up taking it at age 62. A strategic retirement plan should include a strategy for optimizing the receipt of benefits. A tax strategy is another component of strategic retirement planning. You need a variety of accounts to take money from in order to not overpay taxes or incur penalties. Insurance coverage is another important ingredient. How to bridge from early retirement to Medicare? Is long term care insurance a good choice? Should you pay off your mortgage? Creating a strategic retirement plan may appear daunting. Rodney’s advice is to start by sitting down with a financial planner. Rodney also emphasizes the need for communications between partners. In case you missed our last podcast, which features Late Starter to FIRE, here’s a link: L2F 026 Late Starter FIRE. The post L2F 027 Strategic Retirement Plans with Rodney Brooks appeared first on Later2FIRE.

PODCAST Show Notes Our Guest is Late Starter FIRE She lives in Melbourne Australia Works in health services Blogs about FIRE for people who are older Late Starter FIRE (LSF) got interested in FIRE 3 years ago when she realized she didn’t know how much she had saved for retirement. She felt overwhelmed! Her search led her to early retirement blogs some of which described younger people who managed to save enough to retire in 10-15 years. LSF figured the same principles should apply to her and enable her to retire earlier. She decided to go down the FIRE path because there weren’t any better options. LSF managed to pay off her house early thank in part to her mom’s encouragement. Her first step was to focus on optimizing her retirement accounts. When asked about whether she had any self-limiting doubts her response was she didn’t think she was good with money or frugal (she liked to spend – you make money in order to use it). She had to shift her mindset in order to pursue FI. Parent’s advice was to pay off house and save for a rainy day. Saving for retirement was implied. She never specifically told family and friends that she was pursuing FIRE. After 18 months she had a plan and her investments were doing well. So she felt comfortable telling them that she plans to retire at 55. Her Blog Late Starter FIRE She started her blog LateStarterFIRE to hold herself accountable and because she wanted to add an older voice, i.e. there aren’t many people blogging about starting to pursue FIRE in their 40s. Her blog features a series of other people who have started their pursuit of FI late. One story from her LateStarter series stands out – FrogDancerJones FIRE gives you a framework to help you accelerate your quest for FI Late starters have advantages to help them accelerate: A lot of life decisions have already been made. You have more control over your time so you can focus your energy where it does the most good. If you’ve experienced lifestyle creep over the years, there’s a lot you can cut. You’re at peak earnings so you can find extra cash to invest. Each person has to find the balance between spending to enjoy today and saving for retirement. It’s prudent to plan because things can happen to derail your work situation and force an unexpected early retirement. Coast FI Coast FI is when you have enough in your retirement accounts that you no longer need to contribute. The growth of your investments will enable you to fund retirement based on your traditional retirement age. So you only need earn enough to support your current lifestyle. That may enable you to reduce your work hours or find a different job. You can gain more control over your time and more balance. She has achieved coast FI and is reducing her contributions to her retirement savings account and instead investing that money into her outside brokerage account. Otherwise she’s making no other changes at this time. Australia has a national health insurance program called Medicare that is available to everyone. This makes it easier to retire early because finding affordable health insurance in the US can be difficult. In Australia you can purchase private insurance for about $1,000 per year. To help people who are starting out in their pursuit to FIRE, she has produced an action plan which is available on her website (latestarterfire.com/action-plan). Three steps: Fact finding – find out your numbers, e.g. net worth. Set up your control systems – you need a budget and a plan. Investing LSF plans to retire in 5 years. She asked what advice we have to offer. Start thinking about how you’re going to spend your time. As much as possible start doing some of those things while you’re still working. (See My 3 Biggest Retirement Challenges) Use a detailed retirement calculator to customize your plan to your circumstances. Don’t solely rely on the 25X/4% rule. Claire and I have two recommendations to help her have a smooth transition into retirement. Figure out what you want to do with your time and start doing it now before you retire. Create a detailed retirement plan that is customized for your circumstances and include contingency. Her final bit of advice is to get started. Achieving FI is the key part and if you can retire earlier, it’s a bonus. The post L2F 026 Late Starter FIRE appeared first on Later2FIRE.

PODCAST Show Notes It’s About Time: Pursuing FI One of the great things about FIRE is the insights it offers. You discover different ways of thinking about things such as your relationship with money, lifestyle inflation and time which is the subject of today’s show. The pursuit and achievement of FIRE is not about money. It’s about time. When it comes to the pursuit of FI, here’s what Vikki Robbins, author of the classic Your Money or Your Life has to say. “Money is something you trade your life energy for. Life energy is the amount of time you have to live and how you live it”. (Quantity and quality of time) Work is essential to achieve FI and we give a lot of our life energy to work. When we look at achieving FI, the question is not only how long will it take but also how does work make you feel about your life. When it comes to work Claire says she had it pretty good. She achieved work-life balance. But if she had a choice, she’d rather be doing something else. If you’re unhappy with your job, we both believe that it’s better to look for a job while you still have a job. Claire took a career break which wasn’t about being in a bad job. It was to answer the bigger question of “do I still want to do what I’m doing”. Ted prepared for a possible bad job in two ways: 1) he was always scouting for his next job; and 2) networking. We believe the stress of not working is worse than the stress of having a bad job. It’s important to keep working in order to continue to build wealth. When it comes to work and the pursuit of FI, money vs. quality of life is not an either or proposition. It’s possible to manage both. Our overarching work goal was to achieve FI It’s About Time: After Retirement When it comes to early retirement here’s another quote from Vikki Robbins: “The concept of having enough is the basis for changing your relationship with money”. When you have enough money to be FI, whether to continue working is a choice. We can shift our how we view our life energy from money to time. Once someone achieves FI, i.e. do you have “enough”, the question changes from “can I retire” to “should I retire”? Have I had enough (of current work)? Do I have enough to do? Retirement is not a simple transition. We spend many years working and focused on money. As retirement approaches, the focus shifts to what do you want out of your life. Retirement is challenging for many reasons: lack of work structure; less socialization; and loss of purpose. There good reasons to keep working Like what you do Mitigate longevity risk Do you have a plan for what’ll you’ll do Work offers a good deal Example of Emma Has achieved FI and is interested in retiring earlier However her employer offers inducements to continue working Bridging medical insurance Financial incentives Considerations How much longer would you have to work to earn incentives? Do you like your job and the people you work with? Health and longevity risk Do you have a plan for how you’ll spend your time in retirement? Now that we’re retired, deciding how to spend time is more important than how we spend our money. The post L2F 025 It’s About Time appeared first on Later2FIRE.

PODCAST Show Notes Our subject is early retirement. What is early retirement? Adjustments Motivation Is it worth it? Claire’s definition of early retirement is any time before reaching for Social Security benefit age. Early Retirement Adjustments Some of the challenges we faced after retiring earlier include: Retirement is a top 10 stressful life event Relocating which meant leaving family and friends. No longer having the socialization that work provides. Since most people Claire’s age were still working, there weren’t a lot of people available during the day. Leaving work also means leaving your identity. And it’s a very sudden change. You also go from being valued (i.e. paid) to not having any income. Now you have to pay yourself from your savings (de-accumulation). We were confident in our finances because we used Fidelity’s Retirement Income calculator which enabled us to create a plan tailored to our circumstances (including contingency). It took Claire about a year to settle in before she focused more of her time on her creative pursuits. Ted recounts how he slipped into stage 3 of the 6 stages of retirement (disenchantment) after about a year of being in the honeymoon stage. Claire talks about how my unhappiness affected her. You can’t look back because we all make choices and you have to own your choices. Ted eventually worked his way through stage 4 which is reorientation. He did an inventory of what made him unhappy. Ultimately his work involved not only forgiving his father but forgiving himself too. You have to accept the decisions you made. You can’t focus on what you don’t have. Focus on what you have and accept it’s good enough. The process of adjusting to retirement is continuous. Nine years into retirement we realized we missed belonging to a community. We moved into a 55+ community. It has truly amplified our happiness! Motivation How do you stay motivated after retiring? Claire’s motivation stems from her desire to be happy. If something bothers her, she finds a way to restore equilibrium. Ted’s motivation comes from wanting to always do better and be better. They both share a desire to help people and improve financial literacy. Is Early Retirement Worth It? Our last topic is whether early retirement is worth it. Claire’s perspective is you can’t buy time and she had other things she wanted to do with her time instead of work. Retiring early has given her time to do what she loves to do. Retiring early allows you to enjoy healthy years for yourself. Plus you avoid work stress which could have a negative effect on your health after you eventually retire. For another perspective on early retirement check out our podcast with Chris Mamula of Can I Retire Yet. The post L2F 024 Early Retirement appeared first on Later2FIRE.

PODCAST Show Notes Chris Mamula worked as a physical therapist for 15 years before retiring in 2017 at age 41. Chris holds master’s and doctoral degrees in PT. Shortly after retiring, Chris became a partner on Can I Retire Yet which was founded by Darrow Kirkpatrick. On Can I Retire Yet Chris Mamula writes about financial independence and retirement. He’s made guest appearances on many podcasts including Bogleheads on Investing, The Morningstar Longview Podcast, Bigger Pockets Money, and Stacking Benjamins. Chris is the co-author of Choose FI: Your Blueprint to Financial Independence Chris, his wife and daughter moved from western Pennsylvania to Utah to pursue their passion for outdoor adventure and start the next chapter in their life. They were unintentionally on the path to FIRE for over a decade. Their families instilled good spending and savings habits in them. They were not materialistic. She had student loan debt ($20k). They quickly eliminated it because they wanted to start their marriage debt free. They lived on her salary ($35k) while he was in grad school. Chris worked several jobs and used that income to get them out of debt. Once he began his career, they continued with that model of living off her salary and saving his which gave them a very high savings rate. One benefit was they never grew into an extravagant lifestyle (lifestyle inflation). Because they got the big things right when it came to controlling spending in order to maximize savings, Chris and his wife were able to enjoy many great experiences (including attending the Super Bowl). So they never felt deprived based on their values. Chris talks about inflection points which are changes that occur in life that present an opportunity to save. For example, when adult children move, parents can look into downsizing. Chris Mamula on the Advantages of Late Starters to FIRE Older workers typically earn more which enables them to save more. Family expenses drop after children become independent. Empty nesters are free to downsize or devote more of their free time to work and earn more. Deferred tax accounts such as 401ks have catch up contributions. Older workers have fewer years to fund in retirement which helps reduce longevity risk. Late starters have fewer years until they qualify for Medicare. Younger workers face the challenge of what to do about health insurance for many years. The principles of FIRE present a great opportunity for Late Starters to catch up their retirement savings. The complexity of the world of personal finance may intimidate some. So Chris says FI is not binary. It is a continuum, e.g. eat the elephant one bite at a time (using FI milestones). The first step, how to increase your savings rate, can intimidate. How do you cut back on big ticket items like housing, cars and food? It sounds like a lot of sacrifice. Once you simplify the complexity of finance (by using the principles and practices of FIRE) you can save a lot of money. FIRE is more than hitting a number. It’s also about designing your life. Chris talks about the value of belonging to the FIRE community because choosing FI is not the standard path most people follow. He and his wife had to acquire and build upon their financial literacy. Fortunately they have a growth mindset which led them to the writings of J. L. Collins – The Simple Path to Wealth. Chris says it’s his mission to help other people improve their financial literacy but breaking down the complexity that the financial industry puts out there. Resources In his book Choose FI: Your Blueprint to Financial Independence, Chris identifies 3 paths to building wealth. The key is to take the approach that plays into your skills and strengths. Invest in stocks and bonds which require a high savings rate. He recommends index funds and ETFs. Buy and manage real estate which is not passive and may require sweat equity. Start and build a business which entails a different type of investment and risks. Chris lists 4 books on his website that he recommends. The Simple Path to Wealth The Little Book of Common Sense Investing All About Asset Allocation The Intelligent Asset Allocator Chris Mamula is a contributing writer on Can I Retire Yet. In addition to figuring out how much you need to retire, Chris says the better question may be “should I retire now”? Adjusting to retirement is hard! Ted mentions his popular video on The 6 Stages of Retirement. Stage 3 is Disenchantment. Retirement isn’t always your decision. So there’s a lot of value in knowing your current financial status. Regardless of your personal situation, the principles and practices of FIRE apply. You just use different tactics to implement them. To newcomers, don’t be put off by misconceptions. Have an open mind and look at what’s real. The post L2F 023 Chris Mamula of Can I Retire Yet appeared first on Later2FIRE.

PODCAST Show Notes We equate financial independence (FI) with early retirement. We examine our experience from the non-financial and the financial perspectives. The financial perspective follow 5 of the 6 practices for achieving FI from episode 14. The Non-financial Factors of Pursuing Financial Independence Pursuing financial independence requires making changes to your lifestyle which isn’t necessarily easy. So it requires commitment. We live below our means because we have a frugal mindset. However, it didn’t come naturally to Claire. It was how she was raised. It’s an idea she bought into it. Her parents taught her how to approach money. We practiced delayed gratification, weren’t impulse spenders and saved up for things. Satisfy your needs first and save for your wants. We set goals and worked towards achieving them. Ted always writes down his goals because it’s a way of making a commitment which increases the probability of achieving them. Communications and transparency are essential in order to control finances and shape a retirement plan. Communicating is important to confirm that you’re both still committed to the goal you’re trying to achieve. We conduct our affairs similar to how a business operates. At the start of the year we talk about our short term and long term goals. It provides a framework and common ground for having conversations. Claire wanted to retire early because work didn’t give her life meaning. It’s creative projects that she enjoys. For Ted, he became more interested in retiring when he saw friend’s retirement plans get derailed by health issues. Claire believes avoiding work-related stress has helped us enjoy good health in retirement. We didn’t fall into the “one more year syndrome”. While it’s true we could have accumulated more wealth, we view our early retirement years as priceless. We retired together and Claire would never agree to one more year. The Financial Factors of Pursuing Financial Independence Turning to the financial practices with number 2 – examine your financial health. We track our expenses, calculate our net worth, monitor asset allocations and have a detailed retirement plan. The practice of tracking expenses, knowing how we spent by category, was very useful when we retired. It helped us understand how we were going to draw down our savings. We purchased affordable cars and held onto them for a long time (7 – 10 years). Monitoring our financial health enables us to manage things proactively. Number 3 of the 6 practices to achieve FI is control spending. We budget, compare actual spending to the budget and forecast. Number 4 is avoid debt. We kept our mortgage cost down because we purchased a house we could manage on one income. We avoid credit card debt by paying off the balance every month. Credit cards have their place. They’re easy to use, more secure and offer benefits such as airline miles, extended warranty and dispute resolution. We purchased our cars and drove them for a minimum of 7 years. We never had to deal with car payments so we were able to save that money. Maximize savings (#5). Ted took advantage of every money-related benefit offered to him: 401k, HAS and ESPP. He made every catch up contribution when he became eligible. Ted was able to maximize savings because they kept their living expenses in check. Claire early on focused on building up her brokerage account. She didn’t want to lock up that money because she anticipated early retirement. Practice 6 is invest efficiently which means keep taxes and investment fees. Put investments into the right account and buy securities (and derivatives) with low management fees. Regardless of what account you put your money into, stocks are the best way to grow your assets. Ted produced a video explaining the pros and cons of mutual funds and ETFs In summary, first comes the mental side and then the practice side of striving to achieve FI. The post L2F 022 How We Achieved Financial Independence appeared first on Later2FIRE.

PODCAST Show Notes Our guest is copyrighter writer and blogger Kristen Edens of KristenEdens.com Her blog features life after 50: career, family, personal finance and retirement. You can find Kristen on LinkedIn at Kristen Reed Edens. Her Twitter handle is @scribblerKris. Our Topic is Second Act Entrepreneurship She was formerly an exercise physiologist before starting her second act. A second act is a post-primary job activity that boosts you and your income. Ageism motivates people to pursue second acts. Second acts relate to the FIRE movement in two ways: 1) provides identity and purpose; and 2) income. Kristen believes that anyone can become an entrepreneur. All that’s required is an idea, a willingness to explore it and taking that first step. For example, her brother converted his model train hobby into a repair business . Kristen is in the early stages of starting up a family heirloom quilting business. There are two hurdles people have to overcome to take their idea to reality: 1) mindset and 2) money. People procrastinate out of fear or a belief they need a lot of money. Limiting beliefs hold you back. An MVP mindset (Minimally Viable Product) is a way to overcome limiting beliefs. Kristin encourages entrepreneurs to ask “where are you going to find your audience” (not just “who’s your audience”)? To find your audience ask what led to your idea or who likes what you’re doing. Think about where you can find like-minded people. Kristin helps people learn how to use digital marketing channels. She strongly encourages having a website or Facebook group. Sometimes you have to overcome doubters to continue on your entrepreneurial journey. In fact Kristin’s mother was so doubtful of her second act that she offered to pay for counseling! Freedom of self-expression also motivates people to pursue a second act. Many entrepreneurs like to give back. They enjoy helping others by acting as informal business mentors. Second Act Final Thoughts Kristin manages a Facebook called The Confident Copywriter. It’s a forum to ask questions and network. Universities and community colleges are good resources to learn how to become an entrepreneur. Kristin’s final thoughts are be open minded and don’t let negativity discourage you. Deriving satisfaction from a second act is a more realistic expectation than making a lot of money. Work on what’s going to make you happy. The Best Ways to Support Our Show Subscribe on iTunes, Spotify, Stitcher, TuneIn and PlayerFM. Rate and review us wherever you get our show from. Share the episode on social media. Leave a comment below. Send us ideas for future episodes. The post L2F 021 Second Act Entrepreneurship with Kristen Edens appeared first on Later2FIRE.

PODCAST Show Notes This is our last episode for 2020. Our topic is gratitude and ambition and FIRE Gratitude and Ambition Gratitude is feeling thankful for what you have and not constantly seeking more. When it comes to FIRE, gratitude can help control spending People who practice gratitude are more comfortable with delayed gratification Delaying gratification also helps set and work towards goals Ted practices gratitude by using a tiny habit which has 3 triggers: Getting up in the morning Daily run Before going to sleep Habits feed into a bigger lifestyle picture of living gratefully People who are materialistic tend to be more dissatisfied with their lives, have low self-esteem, less concern with others, are less satisfied with their standard of living, feel their lives lack meaning and exhibit higher levels of depression. People who practice gratitude are less materialistic. One thing to be aware of is that practicing gratitude is not an excuse to not try to do better. Being ambitious ties to having a growth mindset. This is important because pursuing FI isn’t only about controlling spending. It’s also about expanding your income. That’s where ambition comes into play. People who are pursuing FIRE are ambitious by definition. It’s important to not let ambition take over and lead you to lifestyle inflation. It’s never too late to pursue FI and gratitude. Special thanks to Joe Casey from Retirement Wisdom for sharing research on gratitude. Here’s a link to Joe’s podcast on gratitude featuring Kristi Nelson: Are You Living Gratefully? Kristi Nelson was diagnosed with Stage IV cancer when she was 33 years old. In the 27 years since, she has lived into all that is possible when we take nothing for granted. She is the author of Wake Up Grateful. Gratefulness.org is a global organization offering online and community-based educational programs and practices. The Best Ways to Support Our Show Subscribe on iTunes, Spotify, Stitcher, TuneIn and PlayerFM Rate and review us wherever you get our show from Share the episode on social media Leave a comment below Send us ideas for future episodes The post L2F 020 Gratitude and Ambition appeared first on Later2FIRE.

PODCAST LATER2FIRE Show Notes We’re making a subtle change to the meaning of the FIRE acronym from Financial Independence Retire Early to Financial Independence Retire Earlier. This change acknowledges that people who start later can’t retire “early” but they can retire earlier than they think they can. It’s never too late to be later to […] The post L2F 012 The Principles of Later To FIRE appeared first on .

PODCAST  LATER2FIRE Show Notes Re-branding the show to Later2FIRE. The target audience is an underrepresented niche of people who are older and can benefit from following the principles and practices of FIRE. We’re inspired to make this change by Ramit Sethi , author of I Will Teach You to Be Rich, who was a keynote […] The post FW 011 It’s Not Too Late To Pursue FI and Retire Earlier appeared first on .

PODCAST  LATER2FIRE Show Notes Learn how joining the FIRE movement helped Kathy Lee, Baby Boomer Super Saver, get out of debt and catch up her retirement savings. Kathy (founder of Baby Boomer Super Saver) and her husband fell behind in their retirement savings because they prioritized spending to enjoy life. They never got around to […] The post FW 010 Baby Boomer Super Saver appeared first on .

PODCAST  LATER2FIRE When Shaun turned 50 he realized he was behind in saving for retirement so he joined the FIRE community to get his finances on track. Shaun believes that the principles of FIRE can help people who are Later to FIRE. Show Notes Our guest is Shaun from Project Palm Tree which is about […] The post FW 009 Later2FIRE with Project Palm Tree appeared first on .

PODCAST Show Notes Joe Casey, founder of the Retirement Wisdom blog and podcast, talks about tiny habits and coaching. He worked in HR for 26 years for the same company. He took early retirement to pursue a new career as an executive coach. Retirement Wisdom has 6 retirement coaches who help people with the non-financial […] The post FW 008 The Power of Tiny Habits and Coaching with Joe Casey appeared first on .

PODCAST Show Notes We met The Dragons on FIRE at FinCon 2019 in Washington DC. Their website is The Dragons on FIRE. Both were born in the year of the dragon. Before FIRE, they hadn’t done a lot of retirement planning. Never considered early retirement. In 2017 Dragon Gal began to experience job fatigue with […] The post FW 007 The Dragons on FIRE appeared first on .

PODCAST LATER2FIRE Show Notes   Amy Blacklock is involved in 3 websites: LifeZemplified – her journey WomenWhoMoney – help to improve financial literacy for women Women’s Money Talk – geared to women over 45 We met Amy Blacklock at FinCon 2019 She was featured in a CNBC.com article: These Late Savers Are On Track to […] The post FW 006 Life Zemplified appeared first on .

PODCAST Show Notes Our guest is Matt who talks about having a fixed vs growth mindset Matt started his blog Method to Your Money in Oct 2017 His wife challenged him to learn more about finance His blog tag line is methods and mindsets to inspire your finances Given how much information is available on finances, Matt […] The post FW 005 Growth Mindset appeared first on .

PODCAST Show Notes Katie, founder of Along the Camel Ride,  is a 40 year old single nurse living in Philadelphia Learned a lot from FrugalWoods about how to lower expenses Raised by frugal parents who passed on those good habits Her parents invested in the Wellington Fund which completely funded her undergraduate college expenses. She […] The post FW 004 Along the Camel RIde appeared first on .