The Long View

Jackie Cummings Koski: Late Starters Can Still Find FIRE

Aug 20, 2024

Jackie Cummings Koski is a certified financial planner and author of "F.I.R.E. For Dummies," dedicated to helping late starters on their financial independence journeys. She shares her inspiring story of overcoming a challenging upbringing and navigating financial hurdles, including divorce. Jackie emphasizes the power of financial education, discusses the benefits of Health Savings Accounts, and highlights strategies for achieving financial independence. Her mission is to empower others, proving it's never too late to start on the path to financial freedom.

52:38

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Jackie Cummings Koski

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Quick takeaways

Jackie Cummings Koski emphasizes that the FIRE movement is not just for the young or high-income earners, encouraging late starters to pursue financial independence regardless of their starting point.

Through her work and resources like 'FIRE for Dummies,' Jackie aims to enhance financial literacy, particularly for underserved communities, making financial education accessible and relatable.

Deep dives

Jackie's Financial Journey and Influences

Jackie Cummings-Koski's financial journey began in her childhood, growing up in a low-income household with a single father. This formative experience instilled in her a deep fear of poverty, driving her motivation to achieve financial security. Her father's hard work and sacrifices resonated with her, especially as she faced significant challenges during her divorce, when she became acutely aware of her financial ignorance. This pivotal moment prompted her to take control of her finances and pursue financial education to ensure her daughter would not face the same struggles.

Investing Insight: Embrace Growth and Maximize Benefits

02:07

Empower Through Education

02:00

Intro

2min

Resilience and Financial Motivation from a Challenging Upbringing

2min

Navigating Finances Through Divorce and FIRE

18min

Empowerment Through Knowledge: A Financial Journey

2min

Exploring Health Savings Accounts: Benefits and Strategies for Retirement

6min

Journey to Financial Independence: Insights and Strategies

19min

Empowering Late Starters through Financial Education

2min

Final Thoughts and Listener Engagement

2min

Our guest on the podcast today is Jackie Cummings Koski. She is a certified financial planner, and she is the author of a new book, F.I.R.E. For Dummies. FIRE stands for financial independence, retire early. Jackie is also the co-host of a podcast, Catching Up to FI, geared toward people getting a late start on financial independence. She is founder and CEO of Money Letters, LLC, which is geared toward providing financial education. She received her undergraduate degree in communications and journalism from Augusta University and her master’s degree in personal financial planning and financial therapy from Kansas State University.

Background

Bio

F.I.R.E. for Dummies

Catching Up to FI podcast

FInominal Women

How It Began/Resources

“Financial Independence, Retire Early (FIRE) Explained: How It Works,” by Alexandra Kerr, Investopedia.com, Aug. 16, 2024.

“This Women Grew Her Wealth and Retired by Age 49—Here Are 5 Major Steps She Took to Do It,” by Jasmin Suknanan, cnbc.com, Jan. 2, 2024.