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Financial Independence Podcast - Early Retirement | Investing | Real Estate | Entrepreneurship

The Mad Fientist


Podcast Overview

Join the Mad Fientist as he interviews personal-finance icons to discover the strategies and tactics they used to achieve financial independence and retire early!

Podcast Episodes

Mr. Money Mustache – Early Retirement Made Easy (Rebroadcast)

To celebrate the 5-year anniversary of launching the Financial Independence Podcast, I've republished the very first interview I recorded back in 2012 with Mr. Money Mustache.

In addition to the original interview, this episode also contains an updated introduction that tells the story behind the interview!

Highlights:

  • How Mr. Money Mustache and his wife retired in their early 30s
  • Why he decided to start writing about financial independence
  • The benefits of raising children after you’ve already retired
  • What MMM likes most about early retirement
  • Why you need to ride a bike

Think Save Retire - Selling Everything and Retiring to an RV

On today’s episode of the Financial Independence Podcast, I had the pleasure of speaking with Steve from ThinkSaveRetire.com!

Steve initially planned to retire at the age of 40 but after making some drastic lifestyle changes, he ended up walking away from his job at 35.

One of the biggest factors that reduced his time to FI was his and his wife’s decision to sell nearly everything they owned and move into an Airstream.

If you have dreams of spending your early retirement traveling around North America in an RV, this episode is for you!

We dive into the costs of RV life, the benefits of drastic downsizing, and Steve’s advice for anyone who wants to hit the road after retirement!

Highlights:

  • How to shed the golden handcuffs
  • The problem with promotions and the joy of stepping off the ladder
  • The costs of living in an RV full-time
  • Using a health share ministry for health insurance and going to Mexico for dental work
  • Why you should start with a smaller RV than you think you need

Your Money or Your Life – An Interview with Author Vicki Robin

I can’t believe it…

One of the founders of the financial independence movement, Vicki Robin, joined me for an episode of the Financial Independence Podcast!

Vicki and her partner Joe Dominguez wrote the book, Your Money or Your Life – a New York Times Best Seller that many people consider to be the bible of financial independence (the FI-ble?).

Your Money or Your Life is actually what inspired me to create the FI Laboratory many years ago.

Vicki has been a driving force in the FI community since the 1960s and has a wealth of knowledge and inspiring stories to share so hope you enjoy the interview!

Highlights:

  • The story behind Your Money or Your Life
  • How Joe was able to retire at the age of 31 in 1969 with $70,000 in the bank
  • Why Vicki’s quest to change the world didn’t succeed (yet)
  • How a stage-3 cancer diagnosis changed her plans
  • What’s going to be different in the new version of Your Money or Your Life
  • What she believes are the most important steps in the Your Money or Your Life program
  • How the book’s investment advice has changed and what she is current investing in

Our Next Life - Retiring to a Life in the Mountains

Later this year, at the ages of 38 and 41, the couple behind OurNextLife.com will be quitting the stressful, time-consuming jobs that they’ve held for most of their adult lives and will be retiring to a life in the mountains.

This is particularly interesting to me because one of my dreams is to live on the side of the mountain and get a part-time ski patrol job. Because really, what could be better than waking up early after a big snowfall, grabbing a cup of coffee with your buddies, then strapping on your skis and heading up the mountain to throw bombs and trigger avalanches?

Join me for a Financial Independence Podcast interview with Ms. ONL to hear all about this exciting transition to the mountains and to find out what their next life has in store for them!

Highlights:

  • What to do if you’re not naturally frugal
  • Why you should gradually trim your expenses if your spending is high
  • The risk of losing your identity when leaving a long-term, time-consuming job
  • Finding meaning after early retirement
  • Using your money to help out your family
  • What it’s like living in a ski town
  • The additional costs of mountain life
  • How to transition from the big city to the mountains
  • Preparing for the two phases of early retirement

 

Coach Carson - The Simple Way to Retire Early with Real Estate

After delivering an epic guest post on the tax advantages of investing in real estate, I asked Chad Carson from CoachCarson.com to join me on the podcast to hear more about his own experiences with real estate investing.

Chad started with only $1,000 in the bank and was able to build up a real estate empire that now consists of over 90 units!

It’s an incredible story of hard work, intelligent money management, and perseverance so listen to find out how he did it. And if you’ve ever wanted to know what it felt like to be a full-time real estate investor when the entire housing market collapsed in 2008, hear how Chad survived despite making over 50 acquisitions in 2007 alone!

Highlights:

  • How to get started in real estate with no money
  • What is ‘bird dogging’?
  • Why you should invest in something that’s simple and understandable
  • The numerous ways to finance real estate purchases
  • What it was like to survive the financial crisis as a real estate investor after making 50+ acquisitions in 2007
  • The importance of having a cash reserve
  • Why you should house hack or do a live-in flip if you want to retire early
  • What Chad would do if he was starting again and wanted to reach financial independence as quickly as possible
  • Why you need to be cautious when considering passive real estate investing options
  • How buying real estate to live in is much different than buying real estate as an investment

 

Fiery Millennials and Millennial Boss – A Millennial’s Guide to FI

On today’s episode of the Financial Independence Podcast, Gwen from Fiery Millennials and Julie from Millennial Boss join me to talk about millennial finances and what young people should do to reach financial independence as quickly as possible!

Highlights:

  • Thoughts on Chautauqua and Camp Mustache (including the awful financial advice Julie received in Ecuador)
  • How Gwen landed her dream job and how Julie increased her income by 600% in 5 years
  • The benefits of starting your own blog
  • Why Gwen is the real-life Guinea Pig
  • How to get a college degree for free (or as cheaply as possible)
  • Why everyone should have a side hustle
  • How to negotiate a higher salary (including Julie’s story of how she earned an additional $80,000 by negotiating!)
  • What to do if you already have an inflated lifestyle

Sane Fientist - My Wife's Thoughts on Financial Independence

On today’s episode of the Financial Independence Podcast, I interview my wife, Jill!

It took a lot of persuading to get her on the show but I’m glad she agreed because her perspective is very different from mine so it was interesting to hear her thoughts on financial independence, early retirement, and this unconventional life we lead!

Highlights:

  • When my wife found out I was a weirdo with money
  • My lowest point as a cheapskate
  • Why Jill and I kept our finances separate
  • The importance of figuring out your perfect life
  • How to get your spouse on board with FI
  • Why you should start small when trying new things
  • What I do that annoys my wife most

 

 

Millennial Revolution – Denouncing the Cult of Homeownership

Joining me on today’s episode of the Financial Independence Podcast are FIRECracker (Kristy) and Wanderer (Bryce) from Millennial Revolution!

Kristy and Bryce exploded onto the scene after a video clip of them attacking the religion of homeownership went viral (it is now the most-viewed and most-shared video on CBC.ca, Canada’s largest news website).

During our interview, we dive into the viral video, explore why they believe buying a home is usually a terrible idea, and find out what they’ve been up to after retiring in their early 30s!

Highlights:

  • Buying a house vs. retiring early
  • Delusional homeowner math and how to avoid it
  • Why you should rent everything
  • The benefits of using a financial advisor
  • How reaching financial independence is different in Canada
  • Why you should follow your dreams on the side

PopUp Business School - The Right Way to Start a Business

I just returned from a fantastic week at the annual Chautauqua event in Ecuador.

This was my second Chautauqua and just like last year, it exceeded all expectations. 

It’s amazing what can happen when you put a bunch of interesting, intelligent people in a gorgeous 17th century hacienda (located at the foot of an extinct volcano) for a week.

At this year's event, an attendee named Alan gave an impromptu presentation about why and how you should start a business and since it fit perfectly with the week's other discussions about financial independence and happiness, I knew I had to get him on the podcast.

Since leaving my job in August, I’ve realized how important it is to have something meaningful to work on to fill the void after leaving your career so I think creating your own business is something everyone should consider.

A side business can not only help ease the transition to early retirement, it can reduce the pressure on your portfolio after you quit and it can even help you reach FI sooner so listen to today’s episode to find out the right way to get started!

Highlights:

  • Takeaways and surprises from the Chautauqua in Ecuador
  • Why you should do work you love
  • How NOT to start a business
  • Why entrepreneurship doesn’t have to be risky
  • How to start a business for free
  • The importance of selling your value before you create it
  • Why you need to just get started

Adventuring Along – From $0 to Retired in 5 Years

Want to know how two teachers were able to go from $0 net worth to retired in just 5 years?

On today’s episode of the Financial Independence Podcast, Ali and Joe (a.k.a. Arebelspy) from Adventuring Along join me to talk about how investing in real estate supercharged their progress to early retirement.

We not only dive into how they achieved financial independence in spectacular fashion but we also explore their equally impressive retirement so far. In the past year alone they have hiked the entire El Camino de Santiago, had a baby in Istanbul, Turkey, and published a romance novel!

Highlights:

  • Dollar-cost averaging into real estate
  • How to purchase real estate in a place you’ve never visited
  • Best books for real estate investors
  • Grasping the concept of ‘enough’
  • Importance of challenging yourself after retirement (both mentally and physically)
  • Cost of having a baby in Turkey
  • How much money you can save by staying out of the United States

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