Summary: Personal Finance Podcast of the Year Finalist. Join hosts Gwen & J on FIRE Drill podcast where they interview guests with epic side hustles, real estate investors, early retirees, online business owners, and other inspiring people rocking financial independence. Saving on travel, Mr. Money Mustache, Tim Ferriss and all things Early Retirement are broken down into simple, actionable steps for the average person. Step up your money game and renew your money philosophy with firedrill podcast.
A Purple Life is retiring next year on a $500,000 FIRE number. She is currently 29 years old, and living and working in Seattle. She's managed to reduce her expenses to $18,000 per year, and splits costs with her partner. She is also successfully living on a keto diet and is planning on going travelling next year once she hits her FI number. You'll love her story. We also chat about... Moving from New York to Seattle How she reduced her expenses to $18,000 per year Why she does not combine finances with her partner Living a keto diet How she calculated her FIRE number Life goals For show notes and takeaways: https://www.firedrillpodcast.com/how-im-retiring-next-year-on-a-500000-nest-egg-a-purple-life
Have you ever renovated a house yourself? Garrett and Cathy have. In fact, they've renovated 6 properties! Garrett and Cathy came up with the idea of fixing up their own house when Cathy got laid off in 2009. Since then, they've been working hard buying houses, fixing them up and then renting them out to tenants. They are now stay at home parents and live off their rental income as they take care of their 3 kids. Pretty impressive. You'll love their story. We also chat about... When their early retirement started How they decide which houses to buy Their strategies to rent and experiences with Airbnb How they DIY the plumbing and electrical How they became officially FIRE For show notes and takeaways: https://www.firedrillpodcast.com/how-we-saved-over-87000-by-diying-house-renovations-grit-and-polish
Managing your own Etsy store is a great way to get some sweet monthly passive income. We talk to Amy, who manages her Etsy shop full time and has scaled her shop to both wholesale and retail clients. Amy fell in love with design and opened her Etsy shop the minute she graduated. From there she started off with vintage clipart, and the moved towards printables in the wanderlust and travel niche, selling to both wholesale and retail clients. She manages her Etsy shop full time and prints her designs on everything from mugs to pillows. You'll love her story! We also chat about... How she got started with Etsy How to know when it's time to pivot The importance of communicating with the customer How to shop and select a printer Using a dropship manufacturer Good Etsy conferences to go to Selling wholesale and retail For show notes and takeaways: https://www.firedrillpodcast.com/how-to-grow-your-etsy-shop-to-a-full-time-business-paper-finch-designs
New Year, New Financial Goals! In this episode Gwen and J receive voice messages and emails from people in the community talking about their financial goals for 2019. We also hear Gwen's achievements and goals for the year coming, as well as J's exciting news about her house and her financial plans. You'll love this little chat. We also chat about... 2018 side hustle recap The comfort of having a paycheck Voicemails from other bloggers Gwen and J's financial goals Up and coming for 2019 For show notes and takeaways: https://www.firedrillpodcast.com/your-2019-financial-goals
Here in the FIRE community we save a lot of money. What if one day it all disappeared because of a... security breach? There's nothing worse than being hacked and having issues with your accounts because of a security issue - and losing all that money you need to reach FI! Today we talk with David, a security expert who used to work for NASA and who now works for a computer company. He tells us the steps we need to take to keep all of our money safe and not have to worry about security breaches. You'll love this story. We also chat about... What you need to know about security How to figure out the best passwords SIM hacking How to move away from phone numbers VPNs and buying stuff online David's personal FI journey For show notes and takeaways: https://www.firedrillpodcast.com/how-to-keep-your-money-safe-and-secure-david
Christmas is here! How are you celebrating the holidays this year? In this episode Gwen and J give an update on their lives and receive some comments and thoughts from different listeners on giving gifts at Christmas. We hear gift ideas to reduce consumerism, bring more experiences, recycle old gifts and save money when buying. You'll love the amazing ideas some people send us. We also chat about... Gwen getting a job in Washington and moving J's 3 life updates Gift ideas to give more experiences than things How to recycle old gifts Hacking the holiday work schedule Saving money on presents For show notes and takeaways: https://www,firedrillpodcast.com/awesome-gift-giving-ideas-from-the-fire-community
Ever met someone who was in the FIRE community but didn't know it? Kelsey and her husband started off like many others: a college degree, a job, a house, and so on. But then, Kelsey decided she wanted to try something else and so they went to Seattle, where she started her own digital marketing company and her husband went into carpentry. They then decided to go travelling, starting with New Zealand and then South America, where Kelsey was still working on her business and her husband got started with white water kayaking. A real FIRE adventure! You'll love their inspiring story. We also chat about... Kelsey's journey to entrepreneurshipHow she started her businessHow they survived the first few months without moneyTravelling and living abroadHer long term goals Enjoy this chat with Kelsey, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Kelsey's business: Davies and DixonKelsey on LinkedIn and Instagram Key takeaways from our chat with Kelsey 1 - Exciting things happen when you leave your comfort zone Kelsey wouldn't have been able to do all she did if she hadn't left her comfort zone and gone to Seattle. She had a house, a secure job and was married, but they still decided to change their lives completely and pursue their dreams. Kelsey's husband went into carpentry, and she pursued her dream of building a business with her co-founder. Thanks to this, they were then able to live abroad and travel. 2 - Going online can help your business In order to work on her business while travelling, Kelsey had to move everything online. This meant giving some people in the business senior management positions, making systems more automated and mostly working with online clients. Kelsey says this definitely helped her business grow and helped define the roles between the co-founders. By hiring people who are smarter than her, she was able to separate herself from the business and help it grow. 3 - The power of mentorship Kelsey attributes a lot of her success to having the right mentors, the right people with good advice. She finds people that empower and encourage her, and from the entire spectrum of advice, she takes the best parts and and works with them. Gwen and J talk about the different mentors they encounter at events they go to - a great opportunity to meet interesting people. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.
Tired of spending money on rent? How about living in an RV! Joe and his wife have lived in an RV for over 4 years now and are loving every minute of it. They have also been working towards their path to FI, continuously accumulating FU money and allowing them to go travelling, to survive a lay off and for Joe's wife to start her own business. You'll love how inspiring his story is. We also chat about... Building FU moneyLiving in an RV for over 4 yearsJoe's layoffHis future FI goalsThe struggle of not knowing when to quit Enjoy this chat with Joe, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode OnTrajectory toolJoe on Instagram and TwitterBook: The Girl of the Sea of CortezBook: Stuck on an island Book: Sailing the Golden Sea Key takeaways from our chat with Joe 1 - The path to FI has its advantages Thanks to having FU money, Joe was able to survive his lay off even though his wife's business wasn't really making an income yet. He took advantage of his time off to go travelling and help his wife with her business. They had been saving for a few years and this allowed Joe to have more options - even though the lay off came as a surprise! This goes to show how FI is really not just about the number, but really about the journey. 2 - It's all about having your finances in order Joe tells us that companies need to make a profit, and sometimes that means letting employees go - there's not much you can do about it. The only thing you can do is have your finances in order and be ready if something happens. He says this FI lifestyle will give you the flexibility to do whatever works best for you, without having to depend too much on external circumstances. 3 - The 'one more year' struggle Joe could quit his job now if he wanted to and would essentially be Lean FIRE. However, he explains that he is comfortable at his job and is enjoying what he's doing at the moment, and so would rather continue working and accumulate more money just. He talks about how difficult it is leave your comfort zone and quit your job. All this into account, his job gives him a lot of flexibility and allows him to travel and achieve his dreams of hiking and exploring. Once again, if you're enjoying the journey, there's no rush to reach FI sooner
One of the keys to reaching financial independence is having certainty. Tyson created the amazing retirement tool called OnTrajectory, that helps people measure and plan for FI. It's a combination of the complicated financial calculations used by financial advisors with some great analytical visuals. Tyson also tells us his personal FI story and how came to creating such an amazing tool. You'll love his story. We also chat about... How he started programming at 13 The start of his money journey Certainty and electric shocks How he changed his mentality when he had to go to a combat zone The money dummy with OnTrajectory His personal FI story For show notes and takeaways: https://www.firedrillpodcast.com/how-he-built-the-personal-finance-tool-that-grows-with-you-tyson
Have you ever thought of building a business around travel? Andy Steves started his travel business in 2010, giving student tours to exchange students all around Europe. At first he was doing all the manual work himself (tours, guides, etc) but eventually learnt how to scale and grow his business. He currently lives in Medellin, Colombia. You'll love how inspiring his story is. We also chat about... Growing up with a travel lifestyle How he scaled his business His business and personal goals How do find off-the-beaten-path places as a tourist The emotional perspective of working and travelling. For show notes and takeaways: https://www.firedrillpodcast.com/building-a-travel-business-while-on-the-road-andy-steves
Is exploring the US by RV one of your dreams? Steve and Courtney retired in their thirties and are now travelling the US with an Airstream. They are both technologists and quit their jobs when they realised the better option was total freedom. They also travel with their two dogs and manage to do some hiking in the most beautiful places in the US. You'll love how inspiring their story is. We also chat about... Reaching FI Their definition of FI Their Airstream Types of US travels Travelling with dogs For show notes and takeaways: https://www.firedrillpodcast.com/exploring-the-us-with-an-airstream-think-save-retire
What are you planning to retire to? Bob has been semi-retired for two decades, and tells us his story of working his tail off and retiring at the age of 42 and immersing himself in art. We talk about how he feels watching his co-workers becoming successful, the importance of giving meaning to your life and market volatility. You'll love his story. We also chat about... How Bob reached FI Doing sculpture once he retired Watching your coworkers be retired The underlying need to make a difference What he feels about the market For show notes and takeaways: https://www.firedrillpodcast.com/semi-retired-for-2-decades-bob-clyatt
Have you ever considered living abroad for a year? Ellen and Michael have lived in Mexico, Ecuador and are now planning to spend a year in Costa Rica. They reached FI at the age of 36 and have two children - who are now bilingual. But they're thinking of starting to work again once their children get older and continue having a flexible lifestyle. You'll love their story! We also chat about... The Cost Rica trip Why Cost Rica Travelling while being vegan Their personal money journey Negotiating with your company How they manage healthcare For show notes and takeaways: https://www.firedrillpodcast.com/living-in-costa-rica-for-a-year-uncommon-dream
What are some FIRE horrors and treats you've been experiencing lately? Today we have a special Halloween episode where Gwen and J discuss Gwen's Halloween Heartbreak and some rough times for Gwen as she moves out of Minneapolis and gets back into the corporate world. We also hear some people's FIRE Halloween Horrors and some pretty sweet treats! You'll love the spooky stories! We also chat about... FIRE Breakups Experimenting with freelancing Facebook Live in November Halloween horrors and treats For show notes and takeaways: https://www.firedrillpodcast.com/halloween-horrors-with-gwen-j
Plan A is life. Financial independence in plan B. Do you agree with this statement? Today we have Doc G - a physician who reached FI before realising what he'd done. He then discovered the FI community and now focuses on the philosophical aspect of FI: finding your purpose, the importance of being employed and fulfilling your identity. You'll love his story. We also chat about... The emotional aspect of FI How he reached FI and discovered the community His blogging journey The amazing influence of the community Why he loves what he's currently working on Enjoy this chat with Doc G, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Doc G's blog: DiverseFI Doc G on Facebook and Twitter Episode: White Coat Investor Key takeaways from our chat with Doc G 1 - FI is a huge part of our identity Doc G explains how he felt when he realised he had reached FI: depressed for several months. This was because he realised that he no longer enjoyed his job, and quitting and being FI meant losing that identity as a physician. When you spend years working in one job, of course it becomes part of your identity. Reaching FI and quitting means you lose that identity - which can be very hard to accept. Doc G also explains how FI in itself can also become a huge part of your identity; you can get so involved in the goal that you forget that FI is 'supposed to be a plan B'. 2 - Life is Plan A, FI is Plan B What does Doc G mean when he says this? Basically he means that best case scenario you get a job that you love and want to dedicate your life to. This is what you want to be aiming for. Plan B is FI - if you get a job you dislike and don't want to do forever, then FI is your 'escape hatch'. This is what Doc G is doing now (also called FIOR, Financial Independence Optional Retirement), where he works 10-15 hours a week and devotes all his free time to his passion of writing, communicating and speaking. 3 - The FI community is life changing Anyone who's part of the FI community know how amazingly supportive it is. Doc G and Gwen talk about how they felt always out of place in school, work, college, etc. The FI community is a place where everyone is welcome and extremely supportive, and where people keep pushing you to become a better person, improve your life and lifestyle. As Doc G says, FI is irrelevant if you always know how to make money, what makes the difference is the community. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.