Zero-Based Everything: FI, Travel, and the Art of Starting Fresh | Katie & Alan Donegan | Ep 559

55 snips

Aug 11, 2025

Guest

Alan Donegan

Guest

Katie Donegan

Katie and Alan Donegan, co-founders of Rebel Finance School and passionate advocates for financial independence, explore the intriguing concept of zero-based thinking. They share their experiences as digital nomads, balancing travel with the need for stability. The discussion also delves into redefining wealth through 'freedom funds' instead of traditional assets. Listeners are encouraged to reflect on their decisions and consider a new approach to finances—emphasizing personal growth, mindful living, and the probabilistic nature of life.

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ANECDOTE

Five Years As Nomads

Katie and Alan call themselves "homeless and unemployed" after five and a half years nomading since 2020.
They describe travel as a roller coaster of sunsets, lost food orders, and incredible people.

ANECDOTE

Singapore Meltdown From Forgotten Basics

Brad recounts crashing in Singapore from dehydration, hunger, and exhaustion until food and water fixed everything.
The story shows how basic needs can drive emotional and decision-making breakdowns while traveling.

ADVICE

Prefer Global Index Funds If Not U.S.-Based

If you're not U.S.-centric, prefer a global total-market fund to avoid concentrating solely in American equities.
Vanguard UK offers global and U.S. versions, so pick the one that fits your domicile and diversification goals.

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Join Brad, Katie, and Alan in a candid conversation about financial independence, travel rewards, and lifestyle choices. They discuss the importance of zero-based thinking, share experiences as digital nomads, and challenge conventional views on net worth by introducing the concept of a "freedom fund."

Timestamps:

00:03:48 - Zero-Based Thinking Discussion
00:04:54 - Experiences as Digital Nomads
00:11:04 - Traveling vs. Stability
00:18:44 - Understanding Investments
00:28:00 - Shifting Perspectives on Net Worth
01:20:00 - Closing Thoughts

Key Takeaways:

Zero-Based Thinking: Evaluate your decisions with the question, "Knowing what I know now, would I choose this again?" (Timestamp: 00:16:19)
Traveling vs. Stability: Digital nomads navigate the challenge of balancing fast-paced travel with the need for stability. (Timestamp: 00:11:04)
Freedom Fund Concept: Shift your focus from traditional assets to a 'freedom fund' that emphasizes financial independence over liabilities. (Timestamp: 00:28:44)
Probabilistic Nature of Life: Embrace the understanding that decision-making incorporates probabilities and not just outcomes. (Timestamp: 00:24:20)

Actionable Takeaways:

Reflect on your choices: knowing what you know now, would you choose that option again? (00:18:36)
Consider categorizing your investments as a 'freedom fund' rather than traditional assets. (00:28:44)

Key Quotes:

"Achieving financial independence allows us to control our time and pursue our desires." (00:17:43)
"Evaluate your choices: if you wouldn't choose them again, it's time for change." (00:18:36)
"Your entire net worth is in your freedom fund." (00:28:44)

Discussion Questions:

How can you apply zero-based thinking in your life to evaluate choices? (00:16:19)
In what ways can we better balance travel experiences with financial stability? (00:11:04)
What does having a freedom fund mean for you? (00:28:44)

Resources Mentioned:

Rebel Finance School (Timestamp: 00:19:08)
What's Your Split? Visualizing net worth (Timestamp: 00:19:08)
PDF Guide to Optimize Your Life (Timestamp: 00:57:41)