In this episode, the hosts celebrate the year-end wins of their listeners including supplementing income, confidently investing in the future, life by design, and finding support in the FI community. They emphasize the value of time and taking action towards reclaiming freedom. The episode highlights achievements in skilling up, helping family, breaking the cycle, and being 1% better. The hosts also discuss the significance of budgeting, challenging false choices, and making positive changes in life. They share a remarkable story of Sabrina's financial journey and announce exciting news.
Taking deliberate action and making strategic financial decisions can lead to transformational outcomes in one's financial life.
Continuous learning and deliberate financial choices can result in significant financial growth and personal wins.
Resilience, gratitude, and support from a community can help overcome hardships and achieve financial security.
Deep dives
Financial Independence Journey
Sabrina shares her inspiring journey of overcoming financial hardship and achieving financial stability. Despite growing up in challenging circumstances, she pursued education and eventually reached financial independence. Through the guidance of ChooseFI, she made strategic financial decisions such as changing retirement investments, increasing savings, and utilizing a 457B plan. Sabrina also found creative ways to improve her housing situation, including buying a house and house hacking through Airbnb. Her story exemplifies the power of small, consistent actions in transforming one's financial life.
Celebrating Wins and Financial Growth
Brian shares his journey of achieving significant financial growth over the years. Through diligent savings, strategic investments, and better understanding of personal finance, Brian and his family have grown their net worth to nearly a million dollars. He also experienced personal wins such as taking a 10-month sabbatical to spend quality time with his daughter, negotiating for better pay, and leveraging his knowledge to maximize credit card points and miles. Brian's story reflects the positive outcomes that come from deliberate financial choices and continuous learning.
Transformation After Challenging Times
Donna recounts her challenging year, which included the loss of her mother to cancer. Despite the difficulties, Donna found peace and faith during the journey and is grateful for the meaningful conversations and precious moments she shared with her mom. On the financial side, Donna's lifelong pursuit of financial stability led her to the ChooseFI community. Through the guidance and inspiration she found, Donna was able to pay for her mother's funeral, achieve financial security, and support her aunts and family members. Donna's story showcases the power of resilience and gratitude in overcoming hardships.
From Financial Struggles to Millionaire Educator
Paul, who was previously featured in a ChooseFI case study, provides an update on his financial journey. After reaching financial independence, Paul pursued various opportunities, including teaching classes for the American Management Association. This allowed him to continue earning income while having the flexibility to select classes that align with his preferences. Paul's success in managing his finances is reflected in his growing net worth, which has surpassed a million dollars. His story highlights the importance of continuous learning, diversifying income streams, and making intentional choices for long-term financial stability.
Empowering Financial Choices and Personal Transformation
Sabrina shares her remarkable transformation from a financially insecure childhood to achieving stability and success through her own hard work and the guidance of ChooseFI. With a background in epidemiology and as a single parent, Sabrina embraced the principles of the FI community, starting with small changes to her retirement investments and increasing her savings rate. She purchased an abandoned house, renovated it, and transformed it into an Airbnb to create additional income. Sabrina's inspiring journey demonstrates the power of taking deliberate action, leveraging available resources, and continuously learning to overcome financial challenges and create a brighter future.
In this episode: checking boxes, supplementing income, life by design, taking action, the value of time, and year end wins!
This week we are re-joined by Johnathan for our 7th annual year-end-wins episode! Together we tune into voicemails sent by you the listener and celebrate your victories from 2023! From confidently investing in your future, to finding new friends and support systems within the FI community, we are proud to be a part of your journey towards reclaiming your freedom and your time! There are many small and large goals you all met that deserve to be celebrated! Listen along as we discuss and commend you for taking action and making the most out of your FI journey this year!
Timestamps:
0:53 - Introduction
3:03 - Katie, Supplementing Income, and Checking Boxes
6:56 - Rakesh, Second Generation FI, and Investing
9:02 - Stephanie, Life by Design, and the Health Snowball
11:45 - Brian, Coast FI, Teaching FI, and Choosy Consulting
16:16 - Boyd and Emergency Funds
18:13 - International Coast FI, Taking Action, and Reclaiming Your Time
21:25 - Anthony, Skilling Up, and Chasing Your Dream With FI
25:35 - Donna, Helping Family, and Finding Peace Through FI
30:24 - Bryan, The Value of Time, and Deciding to Change
37:31 - Paul, FI Travel Wins, Healthcare, and College Hacking
42:01 - Sabrina, Breaking the Cycle, Marginal Gains, and Being 1% Better
