The key to long term freedom and financial independence is saving money.
The ChooseFI community helps individuals grow their financial gap and pursue their interests.
The four percent rule is a guideline for estimating the amount needed for financial independence based on annual expenses.
Deep dives
The Power of Certificate Programs in Career Pivot
Certificate programs offer a quick and cost-effective way to pivot into a new career. Salesforce is highlighted as a potential option with great growth potential and starting salaries even for beginners.
Celebrating 100 Episodes of the FI Community
The Chosify Radio Podcast celebrates its 100th episode by reflecting on the growth of the FI community. It encourages both longtime listeners and newbies to join this community dedicated to financial independence and early retirement.
Finding Financial Independence through Intentional Choices
Financial independence is achieved by making intentional choices that optimize various aspects of life. Examples include moving to a lower-cost area, driving older cars, planning meals at home, and participating in house hacking.
The Four Percent Rule for Financial Independence
The four percent rule is a guideline for retirement savings. By multiplying annual expenses by 25, individuals can estimate the amount needed for financial independence. This allows for a sustainable withdrawal rate from investments.
Life Optimization and the FI Community
The FI community focuses on life optimization, including health, relationships, mindset, and habits. It fosters a sense of abundance and connection, allowing individuals to prioritize what brings true value and happiness.
100 | Brad and Jonathan look back at the ChooseFI’s growth during the past 100 episodes and hit the highlights of financial independence for new community members and recap their own financial independence journeys.
Jonathan considers himself a reluctant frugalist, but the idea of not having to work won him over.
Brad and his wife were natural savers, but chose to move from Long Island, NY, so that they could save more and work toward financial independence.
If you want to take back your years and have the option to stop working before your 60s, you’re going to have to live differently and make different choices.
The key to long term freedom is saving money.
The benefits of pursuing financial independence are felt long before reaching FI.
Jonathan put himself in a position to leave his pharmacy job when it stopped working for him and his family.
A huge quantity of life’s stresses can go away if you’ve got some money in the bank.
What you earn minus what you spend = the gap.
The goal of the ChooseFI community is to help you grow the gap, and pursue what you’re most interested in.
ChooseFI isn’t about the money, it’s a life optimization strategy.
Small sacrifices add up in the long term.
What is a talent stack, and how did it change Brad’s life?
Starting with current income is the wrong place to start calculating the number you need for retirement.
FI number = 25 x annual expenses (4% rule of thumb)
If you’re only saving 1%, it’ll take you 100 years to replace on year of expenses.
Getting as close to possible to a 50% savings rate is when things really start to move quickly.
Being rich isn’t watches and cars – it’s money saved and pursuing what’s more important to you in life.
