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Kristy Shen and Bryce Leung are the dynamic duo behind the Millennial Revolution blog and movement. In this insightful episode, Kristy and Bryce discuss their journey from house-hunting to achieving Financial Independence (FI) and retiring in their early 30s. They delve into why they chose to reject traditional housing and career advice, their innovative 'POT Score' (Pay Over Tuition) method for evaluating education costs, and how they handle investments to maintain their FI lifestyle—despite new challenges like parenting. Discover their interesting perspectives on scarcity vs. abundance mindset, and how the FIRE approach has impacted their personal lives, relationships, and travel adventures. This episode is packed with financial wisdom and real-life experiences that will inspire late starters and aspiring FI enthusiasts alike.
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Resources mentioned on the show:
(As an Amazon Associate, I earn from qualifying purchases.) Millennial-Revolution
Quit Like A Millionaire
Little Miss Evil
CBC News Segment
🕒 Time stamps:
00:00 The Unexpected Path to Financial Independence
00:24 Challenging Traditional Financial Advice
02:20 Introduction to the Guests: Christy Shen and Bryce Leung
04:53 Parenting and Financial Independence
05:52 Financial Strategies for Raising a Child
07:19 The Importance of Geographic Arbitrage
09:42 The Pay Over Tuition (POT) Score Explained
12:14 Balancing Financial Independence with Family Priorities
17:36 The Impact of FIRE on Personal Relationships
19:08 Scarcity Mindset as a Superpower
25:52 Overcoming the Fear of Investing
28:15 Investment Strategies for Canadians
34:07 Mitigating Sequence of Return Risk
36:32 Navigating Early Retirement Challenges
38:50 Understanding Yield Shield Components
45:57 Philosophy on Housing and FIRE
50:46 The Rule of 150 for Housing Costs
56:09 Adapting and Overcoming Challenges
01:00:19 Diversity in Books and Personal Finance
01:03:14 Final Thoughts and Reflections
Disclaimer: We are not lawyers, financial advisors, accountants or tax experts. Please consult your own professional advisors before making any important decisions. Our content is for entertainment and education purposes only.
Catching Up to FI