Fire Drill

Olá! We're thrilled to bring you another FIRE enthusiast, money blogger, travel rewards (expert-level I'd say), and overall amazing dude. Meet Noah from Money Metagame. Noah is about to embark on a gap year, so this proved an excellent opportunity to discuss setting that up, how it'll look on a resume, as well as a dive deep on the financials and how it might affect early retirement. Also, he and his wife took a worthy-of-viral-pinterest $14,000 honeymoon to Fiji, New Zealand, etc, flying business class the whole way.... For less than $500 total. In this episode we discuss: how a gap year might affect your target retirement date how he's manage to build an incredible amount of miles/points (travel rewards 101) why he's used over 60 credit cards over the past few years the different savings vehicles you can use to save for FI (important!) how he aspires to be a professional obstacle course racer :) This is a great episode for investors (specifically those building for FI), as well as current and future travel rewards enthusiasts. Enjoy! Show notes and links from today's episode Noah's blog: Money Metagame (and on Twitter!) Reddit's travel rewards subreddit --> /r/churning Chase Sapphire Card (preferred) - Great everyday CC for transferrable points. The Flight Deal - One of Noah's favorite sites for grabbing low-fare price alerts! Southwest Companion Pass info Tough Mudder - one of the obstacle courses Noah has been into. This scares us ;) Are you in our Facebook group yet? Come join! We have cookies. Key takeaways from our chat with Noah at Money Metagame 1 - The details of planning for a gap year (i.e. mini-retirement) One of the goals of early retirement is to....retire early. Still with me? Good. Taking a gap year, or any extended break from work and income, usually delays your targeted FI date. So the question is...it worth it? The short and long answer is "it depends completely on you." In Noah's own words, any delay or change in his targeted retirement date "is worth the experience." He and his wife plan on driving around the country, staying in hotels, adventuring, exploring. They might not be able to do that later in life (different circumstances, jobs, kids, old age). Since they have the opportunity to take the gap year now, early retirement can wait. Goals change, and "it's the right time in our lives," in Noah's case. Would you delay FIRE for a year for a once-in-a-lifetime opportunity? Food for thought. 2 - Explaining a gap year in your resume Frankly, just be honest. "I took a year off to travel the world" likely makes you more desirable to an employer, rather than the other way around. If anything, a hiring manager would respond with "how'd you do that??" You can always find more work. Don't stress over the resume. 3 - Travel rewards are real. Noah is a master at juggling credit card spending bonuses, finding cheap flights, nabbing access to private airport lounges, etc... But the takeaway is this: it's doable for the rest of us as well. You don't need to juggle 60+ credit cards, but you get plugged into various low-fare alert sites right this second, for free. Check out the links above for some resources Noah mentioned, and take advantage of one! Even if you don't have specific travel plans, why not try for one CC spending bonus anyways? (just pay off the debt in full every month of course...). Those miles might come in handy sometime soon. Also, Southwest Companion Pass (more info here). Enough said. 4 - Where does the money you save for FI go?

Today's guest has an amazing story. Graduated college with a positive net worth? Check. Traveled the world on $50/day? Has helped people pay off over $1M+ in student debt? Check and check. Travis from Student Loan Planner (and Millennial Moola) started like many of us; in the corporate rat race throughout his early 20's, but has since gone on to "retire" early (you'll see why the quotes are there) and start a lucrative and inspiring student loan business. We chat about... How Travis traveled the world for $16k/year The benefits of working corporate (at least for a while...) The ultimate motivation behind Travis's success (hint: he didn't want to go back to full-time work) He drops an insane amount of knowledge bombs throughout the show. Enjoy!! Show notes and links from today's episode Travis's blog(s) - Student Loan Planner and Millennial Moola Mr. Money Mustache - We might actually be referencing this blog every episode. :) Physician on Fire and White Coat Investor - Two great finance blogs for high-earning professionals, specifically in the healthcare arena. Key takeaways from our chat with Travis There were a metric-ton of takeaways from this interview, so bear with us! 1 - Early retirement doesn't have to last forever. When we asked Travis about how he retired at age 25, he made it a point to explain he had only saved up enough money to "not work" for 10 years. Not forever, just 10 years. For those of us considering a career change (or dropout), the question is this: Could we get back to where we are today, should our sabbatical/RE force us to? Most likely, yes. There's a 93.5% chance most of us could jump back into the workforce if we *needed* to. If that's the case, what are we waiting for? (Please don't go rage-quit your day-job tomorrow by the way. It's still an important decision requiring thought, planning, and execution. We're just suggesting a potential reframing of what "retirement" looks like.) Travis on "How to Retire in Your 20s" 2 - Maybe just quit your job for a year? Directly related to the point above...what if you could execute a temporary retirement? This could bring several benefits: It might reveal whether or not true retirement is what you actually want It'd be fun (hopefully?) It'd be easier than ever to return to full-time work if you desired/needed to It'd actually look good on a resume (maybe) You can likely get another job. It might take effort, but you probably could, yes? A one-year mini retirement could be a lot more manageable than full FIRE as well. 3 - Travis's unique budget mindset for full-time travel Spend less than $50 a day. Simple. While staying in areas that cost a bit more, Travis would make up for it by staying longer in cheaper areas (averaging it out). For whatever reason, this seems like a smart way to approach budgeting for long-term travel (relative to your income of course). 4 - Life has opportunity cost as well Would you take this offer? I'll give you a million dollars, but on a 30-year vesting schedule. You're required to work at XYZ company the entire time, and you get $0 if you ever quit. Would you take that deal? Not likely. It doesn't sound appealing in that long-term context, but we opt-in for this every day. It's roughly $33k a year at a "normal" job (simplified of course). According to Travis, we should all think of *life* having an opportunity cost as well: "If you're spending 8-10 hours a day at work unhappy, that's time you never get back." That's powerful,

  Have you ever dreamed of quitting your job and blogging full-time? Probably. But for most people...that thought is super scary. Well, today's guest is Bobby from Millennial Money Man, and he did just that. Bobby left a full-time job as a band director (only 2 years ago by the way), and now makes well over six figures a year blogging. However, it wasn't quite as dreamy as it sounds. He actually admits it was more of an impulse decision, and not one he'd recommend for everyone. Still, he's a brilliant, driven, FIRE-oriented blogger who has an incredible story. I'm sure you guys and gals will approve! He's amazing. We talk... How he first started blogging (and lessons learned) Why you might NOT quit your full-time job just yet... Freelancing to make end's meet Healthcare costs when you've retired early Life coaches.... Dealing with angry people that don't understand our FIRE desires. Want a free book, on us? We're giving away copies of Pat Flynn's incredible book Will It Fly? How to Test Your Next Business Idea So You Don't Waste Your Time and Money. We'll ship you one in exchange for an honest rating and review on iTunes! Here's what you do: Search for 'FIRE Drill podcast' in iTunes, click "write a review." Screenshot your review Email to us at firedrillpodcast@gmail.com Already left a review? Send us the screenshot already :)   Show notes and links from today's episode Bobby's blog - Millennial Money Man His Facebook Ads Course The Green Swan - PF and FIRE blogger. The Swan’s FIRE Prowess Gauge // Savings Rates Be Damned Our Next Life - Early Retirement, Happiness, Adventure! VERY close to achieving FIRE. Mr. Money Mustache - One of the OG FIRE bloggers The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss - Must-read for entrepreneurs and FIRE enthusiasts seeking freedom in their work. Mr. Money Mustache's interview on the Tim Ferriss Podcast (really, really good!)   Key takeaways from our chat with Bobby at Millennial Money Man 1 - Why you should probably not quit your job to blog full-time Bobby had a panic attack the first night after he quit. He struggled for the first several months of the transition (a transition which will be hard for everyone by the way). In the U.S. especially, we are programmed from an early age to... get good grades, get into a good college, get a good job, work 40 years then retire. Unlearning and un-programming ourselves for a more financially independent, no-job lifestyle is extremely, extremely difficult. If you are under-prepared for quitting your job, it could cost you big time. Such a decision can eat into your savings, or force you back into a job (maybe even one worse than your previous job). Full-time blogging (or any other jobless lifestyle) is a huge life decision that should be taken into extreme consideration and planning! BUT... Don't be discouraged...   2 - Still want to get out of your full-time job? Save up a cushion! This is one of the core tenants of FIRE, of course...but even on a small scale (i.e. mini-retirements, pursing entrepreneurship ventures or part-time work)...you're going to need cash to live off of. Bobby and his wife saved over a full-year of income. Worst-case scenario, they were prepared to re-think their options after one year of full-time blogging. But how does one save up a sizable cushion?

Miss Mazuma is a flight attendant on the way to Financial Independence. This is one story you don't want to miss. Everything was going well until quite suddenly she woke up in the middle of a divorce, underwater on most of her rental properties, and struggling to make sense of how it all went wrong. Miss Mazuma is proof FIRE is attainable for everyone if you're willing to make the sacrifices. Today she is living a life she once thought she might not get to have. How Bianca pivoted after divorce and real estate failure to pursue financial independence by 40 In this episode you will learn: The series of unfortunate events that led to losing her properties What it's like to hike the Camino de Santiago The value of introspection A discussion on the challenges of going for FIRE at different ages and stages of life Miss Mazuma's current and future plans Show Notes: The Rise and Fall of My Empire Hiking the Camino de Santiago Wild Contact: Website Twitter Instagram Join our private Facebook group to continue the discussion. It's invite only, but click the link below to join for the low, low price of free! Get the invite here!   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.  

Early Retirement Dude retired from the workforce over 12 years ago in the middle of a successful career in banking. His portfolio survived 2008 and he's proof that early retirement is sustainable. In this episode we talk about crazy Wolf of Wall Street type banking stories, what it was liking pursuing financial independence before Mr. Money Mustache, what he's been up to the past decade including the details behind being a reddit moderator, and why early retirement was so important for his family. How Early Retirement Dude Walked Away from His Banking Career and Never Looked Back In this episode you will learn: Proof that early retirement is possible What it's really like being a Reddit moderator for the financial independence subreddit Crazy stories about what it was like working in the financial industry pre-2008 What life can be like once you hit financial independence How to deal with fear of missing out with coworkers after your retirement How early retirement can help you cope with unexpected personal family issues **disclaimer: his opinions on being a Reddit mod are his and his alone** Show Notes Daniel Suelo Financial Independence subreddit FatFIRE subreddit FIREY Femmes subreddit LeanFIRE subreddit FinCon Contact: Website: Early Retirement Dude Email: earlyretirementdude@gmail.com Reddit Join our private Facebook group to continue the discussion. It's invite only. Get the invite here   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.  

In this episode, we talk to a young professional FIRE seeker about working abroad as a method to get to FIRE more quickly, married finances, children, travel and her goals. You will learn in this episode: How working abroad could accelerate your path to financial independence How two real couples manage their finances The arguments for and against waiting until FI to have children How she started a scholarship fund and asked for donations in lieu of a wedding registry How to Manage Money as a Couple Pursuing Financial Independence Without Conflict Listen to the episode using the media player above or subscribe to our podcast in iTunes. Show Notes Mr. Money Mustache Afford Anything   Continue the discussion of this episode in our private Facebook group for Fire Drill Podcast Community members: Request to join the Facebook group HERE   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.  

Mountain woman Holly Johnson joins us to talk about solo adventuring, backpacking, hiking incredible mountains, and building her unique side hustle as an outdoors social media influencer. If you love being outdoors and you're looking for a side hustle or just some free camping gear, today's episode is for you. Holly built up her brand as an outdoor social media influencer and now earns free gear and cash from sponsors. She has nearly 300k followers on her Instagram, @missholldoll, where she shares stunning photography from her adventures. Holly gives us some pointers on how to grow a social media presence and start an online business, including how she secures deals with sponsors and how she keeps her Instagram on brand. How Holly gets paid to be a Social Media influencer for the Outdoors We also have a great discussion about the importance of not waiting for anyone else to pursue your dreams and the extra scrutiny women face in the outdoors social media scene. In this episode you will learn: Tips for solo adventuring and solo backpacking Why you shouldn't wait for anyone else to go on an adventure What exactly is an outdoors social media influencer How to get free gear and money from sponsors How to transform a passion for being outside into a business How to grow your Instagram account and stay on brand The challenges women face with extra scrutiny in social media Show Notes Instagram @missholldoll Is Your Adventure More Real Than Mine?   Continue the discussion of this episode in our private Facebook group for Fire Drill Podcast Community members: Request to join the Facebook group HERE   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.    

Our guest today is a hardcore Mustachian. She has perfected the art of house hacking high cost of living areas with her deep dive into master tenancy law and manufactured homes. She bikes to work, has a flip phone, and will be early retired in no time. Mr Money Mustache lovers will rally around her frugal lifestyle and appreciate her general badassity and commitment to the MMM lifestyle. She was inspired by Mr Money Mustache and now lives in a trailer What you'll learn in this episode: What is a Master Tenancy agreement and how you can use it to save on rent What her responsibilities were as Master Tenant How to look for and purchase a manufactured home The caveats of purchasing a manufactured home What it's actually like living in a trailer Show Notes: Mr. Money Mustache Master Tenancy   We'll be talking about the episode further in our private Facebook Group: Fire Drill Podcast community   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.    

Do you know the fuel dumping strategy to score cheap flights?  Have you ever tried couch surfing? Diana and Hope are the sister duo behind the MVMT travel blog and they'll take us through these travel tips and more in today's episode. Diana is a former attorney who quit her job to pursue a life of travel and entrepreneurship. Hope is a college student who has done her fair share of international travel and budget travel. How to Get Paid to Travel with Diana and Hope of MVMT Blog In this episode you'll learn: Why Diana quit her job as an attorney to follow her passions How she prepared financially to quit her job How she makes money to sustain her travels How Hope travels cheaply as a college student What fuel dumping is and how you can use it to score cheap flights What couch surfing is really like and Hope's best couchsurfing experiences Why Hope is finishing her college degree even though she wants to be an entrepreneur Show Notes: How You Can Travel 120 Days Each Year With a Full-Time Job Iceland Air Stopover NYC Weekend Trip for $20 Couch Surfing Skyscanner Student Universe ITA Software Finding Cheap Flights Vagabonding: An Uncommon Guide to the Art of Long-Term World Travel by Rolf Potts **so good Making Sense of Affiliate Marketing - Course by blogger Michelle Schroeder-Gardner Discuss this episode further in our Private Facebook Group for the Fire Drill Podcast community! Request an invite to the group HERE   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.  

Jay from FI Fighter retired last year at the age of 31. He has since traveled to Hong Kong and continued to actively manage his investment portfolio. He stands out a bit in the early retirement community since he achieved financial independence by both active investing and real estate investing in low and high cost of living areas. In this episode, you will learn: Strategies for active investing including Jay's experience with mining stocks What life is really like after achieving financial independence Real estate investing in both low cost of living and high cost of living areas Is now a good time to buy real estate? We had a blast talking with Jay of FI Fighter about his early retirement! Click the media player above to listen to the episode with Jay or subscribe to us in iTunes. Show Notes: My Most Important Post Ever Contact Info: Website: FiFighter.com Twitter handle: FI_Fighter   Continue the discussion in our Private Facebook Group. Request an invite and we'll invite you to join us.   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.  

In this episode, we talk with Guy On FIRE about how he amassed a real estate empire in his twenties. He has three rental properties and over 50 properties under management. He also is an expert side hustler and used his side hustles to acquire down payments for his properties. In this episode you will learn: How to acquire a property for house hacking How to get started in the property management business Ideas for side hustles to help you save up for a down payment How to manage and acquire multiple rental properties We loved talking with Guy on Fire about his Real Estate investments! Listen to the episode with Drew by playing the media player above or subscribe to us in iTunes. Show Notes: FreeCycle BiggerPockets Meetup.com  203K FHA loan House Hacking: Getting Paid to Live Real Estate Corner Contact: Website: GuyOnFire Twitter: GuyOn_Fire Email: guyonfire.us@gmail.com   Continue the discussion in our private Facebook group. Request an invite and we'll invite you to join us.   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.  

How does earning an extra $8,000 per month sound? Our guest on today's episode is a romance novelist and publishes her books online for digital download. This side hustle is something she does on top of her full-time job and is her plan for growing her net worth from $250,000 to $1,000,000 in 5 years. In this episode you will learn: How to write and publish a romance novel including software, publishing, and pricing What topics sell in the romance novel space Resources where you can learn more about writing and publishing romance novels We definitely learned tips for Writing Your First Romance Novel! Listen to the episode with Money Penny about writing romance novels in the media player above or subscribe to us in iTunes. Show Notes: Financial Independence subreddit Erotic Authors subreddit Goodreads Vellum Scrivener DaFont Contact:  Twitter handle: Money Penny Contact her at moneypenny@gmail.com!   Continue the discussion in our Private Facebook Group. Request an invite and we'll approve you to join.   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.  

We're so excited to introduce our first episode of FIRE Drill Podcast! In this episode, we feature a young couple well on their way to financial independence. They use short term Airbnb rentals, long term real estate, and investing to get to FI faster. The crazy thing is that they targeted their Airbnb rental property to Bachelor and Bachelorette parties. How to Rent Out Your Home for Airbnb In this episode, you will learn: What to look for when purchasing a property for Airbnb Crazy stories from living on the site of an Airbnb rental for bachelor parties Their "never sell" strategy for real estate investing How real estate can be used to get to Financial Independence faster Be sure to check out our Private Facebook Group to continue the discussion.   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.