How to be Financially Independent Without a Six Figure Salary with Brad Barrett
All the Hacks with Chris Hutchins
Intro
This chapter explores the importance of financial independence and how it allows for a life of choice and autonomy. The discussion emphasizes taking actionable steps toward FI, focusing on saving and long-term planning to achieve freedom in work and life.
#2: Financial independence (FI) expert Brad Barrett joins Chris to discuss how you can achieve FI no matter how much you make, including how much money you need to hit FI, savings hacks you can use along the way, and the power of intentionality.
Brad Barrett is the co-host of ChooseFI, the top podcast on financial independence with more than one million monthly listeners. Brad became financially independent and quit his job at 35 years old, without ever earning a six-figure salary. He also runs Travel Miles 101 and Richmond Savers.
Full show notes available at: https://www.allthehacks.com/financial-independence-brad-barrett/
Partner Deals
For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals
Selected Links From The Episode
Brad Barrett: LinkedIn
ChooseFI: Podcast | Instagram | Local groups
The shockingly simple math behind early retirement article: Mr. Money Mustache
Automate your savings strategy: Wealthfront
eBooks from your library: Overdrive
Cheaper mobile phone plans: Republic Wireless | Mint Mobile
Learn how to travel the world for pennies: Travel Miles 101
Hotels mentioned: Disney Swan Hotel | Fairmont Bermuda Hotel
Book a personal trip through rewards with: Flight Fox
Track price history and set price alerts on your favorite products: Camel Camel Camel
Show Notes
(00:20) Who is Brad Barrett the Financial Independence Expert?
(01:25) The Ultimate Definition of Financial Independence - One Hack to Rule Them All
(03:25) Mistakes Brad Has Made on His Journey
(04:22) Exploring the True Meaning of Financial Independence
(05:48) Can Anyone Achieve Financial Independence? It's a Simple Equation
(09:19) Brad's Strategic Choices that Paved the Path to Financial Independence
(10:45) Balancing Financial Independence without Sacrificing Everything
(11:50) The Mindset Shift: What Do You Value More?
(19:03) Demonstrating That Financial Independence Isn't About Deprivation
(13:41) Dispelling the Myth: Do You Have to Save 90% of Your Income?
(20:44) Managing Your Finances: Does It Require Excessive Time and Effort?
(23:27) Step One: Calculate the Cost of Your Life for Financial Independence
(26:02) Embracing Awareness: Even Brad's Continuous Journey to Improvement
(28:07) Tracking Savings: From Pen and Paper to Utilizing Savings Apps
(30:57) Advice for Those Choosing to Work Indefinitely
(31:41) The 4% Rule: Calculating Your Financial Independence Savings
(35:39) Beyond the 4% Rule: Chris's Perspective on its Limitations
(37:29) Hacks Beyond Saving: Expanding Strategies for Financial Gains
(40:29) Unlocking Free eBooks via the Public Library
(42:25) Cutting Costs on Mobile Plans and Data Usage Control
(43:51) Discovering Personalized Tiny Sacrifices for Significant Savings
(44:09) Brad's $150 Vacation vs. $5,000: The Reward Points Advantage
(50:20) Gamifying Purchases: Unveiling Product Price History for Smart Shopping
(53:00) Key Takeaway: Intentionality and Optimization without Compromise
(54:00) Connecting with Brad and Exploring ChooseFI
Connect with All the Hacks
All the Hacks: Newsletter | Website | Membership | Email
Chris Hutchins: Twitter | Instagram | Website | LinkedIn
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