The Basics of Financial Independence, Retire Early (FIRE) with Jackie Cummings Koski (SB1610)

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Dec 2, 2024

Explore the inspiring journey of Jackie Cummings Koski as she shares her path to financial independence and the FIRE movement. Learn the secrets of developing lasting saving habits and investing wisely. Discover tips to navigate holiday spending without falling into debt traps. Jackie emphasizes the importance of creating a financial dashboard to track progress and highlights the benefits of side hustles. Engage in a fun trivia segment about holiday overspending while gaining actionable advice for a smarter financial future.

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ANECDOTE

Divorce as a Wake-Up Call

Jackie Cummings Koski initially wasn't interested in finances, letting her husband manage everything.
A divorce became her financial wake-up call, highlighting a significant disparity in their retirement savings.

INSIGHT

Investment Disparity

Jackie's husband's larger 401k stemmed from aggressive investment in bank stock during a period of high bank performance.
This disparity, coupled with the divorce, motivated Jackie to take control of her finances.

ANECDOTE

Motivation from Poverty

Growing up in poverty fueled Jackie's determination to achieve financial security.
This motivation intensified after her divorce, driven by the fear of returning to poverty and wanting a better life for her daughter.

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Are you ready to take control of your finances and make this holiday season the year you avoid debt traps? Today, we're diving into the inspiring story of Jackie Cummings Koski, co-host of the Catching Up to FI podcast. Jackie’s journey—from a divorce that sparked her financial awakening to achieving FIRE (Financial Independence, Retire Early)—is packed with lessons you can use to stack your Benjamins and live life on your terms.

What You’ll Learn Today:

How to develop a saving habit that lasts.
The key steps Jackie took to overcome financial fears and invest wisely.
Tips for navigating holiday spending without breaking the bank.

Jackie also shares actionable strategies for building a financial dashboard, exploring side hustles, and embracing flexibility in your work and life. Whether you're just starting or looking to fine-tune your financial game, this episode is packed with advice to help you move forward with confidence.

Episode Highlights:

Struggling to get back to work after a holiday weekend? We’ve all been there!
Jackie’s journey: From financial wake-up call to achieving FIRE success.
Overcoming fears, gaining confidence, and investing smarter.
Building a financial dashboard to track your progress.
Smart holiday spending tips to keep your budget intact.

Trivia Fun:

How much do people typically overspend during the holidays? Join Joe, OG, and Doug as they tackle this question in our trivia segment, with plenty of laughs and surprises along the way.

Don’t Miss This Episode If:

You’re looking for inspiration, actionable advice, and practical tips to master your money, avoid holiday debt, and build the financial independence you’ve always dreamed of.

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FULL SHOW NOTES: https://stackingbenjamins.com/FIRE-basics-with-jackie-cummings-koski-1610

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

Enjoy!

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