F.I.R.E. (financial independence, retire early) is financial literacy on steroids With Diania Merriam
Apr 21, 2021
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Diania Merriam is the founder of The EconoMe Conference, dedicated to financial independence, and host of Optimal Finance Daily, where she shares top personal finance articles. In this conversation, she dives into her inspiring journey of escaping $30k debt and negotiating remote work to walk 500 miles in Spain. Diania discusses the importance of community in the FIRE movement and reveals how strategic planning helped her run successful events while juggling a full-time job. She also emphasizes the balance between profit and purpose in entrepreneurship.
Diania Merriam emphasizes the importance of saving a significant portion of income, aiming for financial independence to pursue passions freely.
The EconoMe Conference fosters open discussions about financial topics, combatting taboos and supporting community collaboration without financial pressure.
Deep dives
The Economy Conference and Financial Independence
The Economy Conference focuses on the FIRE movement, which stands for Financial Independence, Retire Early, promoting healthy financial habits. Participants aim to save a significant portion of their income, with one attendee mentioning they saved 60%, allowing for quicker retirement. Diana Miriam, the founder, created the conference as a supportive environment to discuss money openly, combatting the taboo surrounding financial topics. She believes financial independence can lead individuals to pursue their passions without the pressure of needing to earn money.
Creative Freedom through Non-Profit Ventures
Diana emphasizes the value of creating a business that doesn't have to be financially profitable from the start, allowing for creative freedom without the pressure to earn. By keeping ticket prices low, she ensures accessibility, and this non-profit approach helps in building support and community around her event. The lack of financial pressure also means she can choose collaborators and speakers based on passion and chemistry rather than financial necessity. This mindset has allowed her to open doors for new opportunities, such as hosting a popular finance podcast.
Leveraging Opportunities for Growth
Diana believes that leveraging existing audiences through podcasting has been key to her event's success, as she appeared on numerous podcasts to promote it. Despite spending money on digital marketing with little return, the personal connections formed through collaborations helped spread the word effectively. By focusing on targeted marketing, she engaged a niche audience interested in personal finance, thereby increasing participation in her event. This approach reflects her understanding of the importance of community and connection in expanding outreach and creating a loyal following.
Diania Merriam is the founder of The EconoMe Conference, an event centered around financial independence, also known as the "Ted Talks" of the FIRE movement. She's also the host of the popular podcast Optimal Finance Daily where she narrates articles from the best personal finance blogs on the planet. After getting out of $30k of debt in 11 months, she used her newfound financial freedom to negotiate a remote working arrangement with her employer, take a 2 month sabbatical to walk 500 miles across northern Spain on the Camino de Santiago, and launch her own business. Diania saves 60% of her income and is on track to be financially independent by the time she’s 40 years old.
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