On today's episode, Cody and Justin are joined by Kieth aka The Wealthy Accountant who went from a small town farmer to a multi-millionaire tax professional. Want to know how good he is? Well he's good enough to have been selected by Mr. Money Mustache to do his taxes. That's a heck of an endorsement. Keith's story is truly amazing. The way he self educated himself is as relevant today as ever with the access to training and the changing job landscape. Hear how he started his business and became financially independent way before that was even a common phrase. Episode Summary Keith grew up in a farming family in small town Wisconsin They didn’t really have anything to spend money on so they lived frugally The family farm ended up going into bankruptcy when he was 18 In high school he started studying the stock market crash of 1929 and became really passionate about investing and he started investing at 18 He also started doing the books on his dad’s agricultural repair business That eventually turned into fellow employees asking him to do their taxes Before long he had 50 clients with no overhead We talk about how different the interest landscape was in the 80’s He talks about how excited he was to get a 10% mortgage In totality he’s only ever worked for someone 14 months At about 32 he realized he had accumulated $1M and he was married at this time This being the late 80’s he had a $540/mo house payment and they lived on less than $10k He spent all day outside of tax season just sitting around reading books and learning In reality he never got a college degree but didn’t need one Even though he didn’t have a degree he spent a decade just pouring over books He was a financial independence guru before FIRE was even a term The first blogger he really ran across was Mr. Money Mustache In fact he even did Mr. Money Mustache’s taxes! He points out that before you get to stressed out over tax loop holes and maximizing everything, to stop and realize you’re probably always going to make some kind of income and if you’re serious about this path you’ll likely end up with more money than you’ll ever need We then swap this discussion to the tax specific tips He talks through standard 401ks, backdoor roth 401ks and mega backdoor roths We also get into things like Cash Balance accounts available to self-employed members Keith also mentions that standard brokerage accounts get a bad rap and shouldn’t be overlooked but still recommends filling up your 401k and IRA When coming up with a tax strategy for someone he talks about how important it is to look at a person’s scenario on a long term view and not just year to year You won’t want to miss the deep dives into the mechanisms behind the different IRA contributions, cash balances, and profit sharing which can take you to many times the $19k 401k and $6k IRA limits Then we get into the discussion of tax moves you can make with non-qualified accounts like your standard stock market account that’s not a 401k or a IRA One thing Keith points out is that these non-qualified accounts are tax advantage in a way because when you die, you’re beneficiaries won’t have to pay capital gains tax on all those earnings. Your kids get to take over those shares at the price listed on date of death and all those gains are forgiven from any tax burden From Keith’s standpoint most tax loss harvesting is ok but not worth paying for On the flipside, he’s a huge fan of harvesting gains Harvesting gains is when you’re in the 0% tax bracket and have some room to give so you purposefully sell some shares for a profit and capture those gains without paying taxes on the gains (STOP AND READ THAT LAST BULLET AGAIN…SO POWERFUL) Keith also urges you to consider what your retired minimum distributions can climb up to be if you just let them sit in the traditional accounts until 70 Stay out of debt, invest,

On today's episode, Cody and Justin are joined by Leif from Physician On Fire. Leif didn't even discover the idea of financial independence until he was 40 but has truly hit the ground running. In just three years he has created a massive online following where he helps reach high-income earners to educate them on finances as well as spread the message of giving. He donates 50% of all blog-related income and has donated up to $100k in a given year. Stay tuned to get Leif's background and take on topics such as backdoor Roth IRAs, discovering financial independence at a later age, travel hacking, and his donor fund. Go give it a listen and let us know what you think! Episode Summary Leif was born in 1975 and began understanding money even as a 5-year-old He came from a family of physicians and knew that’s what he wanted to do as well At age 30 he was completely finished with schooling and residency and became an anesthesiologist He was able to keep student loans low by sticking with in-state schools, earning scholarships, and a college fund his grandfather had left him At age 30 he had a slightly negative net worth and didn’t discover the idea of financial independence until he was almost 40 Even before discovering financial independence, he was saving about 50% of his take-home pay but it was intentional The discussion then transitions to the topic of financial advisers targeting high-income members like physicians and possibly taking advantage of them He reaches other high-income earners to help them learn how to invest for themselves and even find a local financial adviser through his blog and Facebook groups One of his Facebook groups is for anyone in the “Fat FIRE” community which he describes as anyone looking to be able to spend $100k or more per year in retirement He then starts breaking down tax advantage strategies especially as they pertain to high-income earners including the backdoor Roth IRA and Mega backdoor Roth Then he describes how he got into blogging and making money through this other source It wasn’t actually until a little over 3 years ago that he discovered financial independence for himself and saw The White Coat investor as a role model in the space His hope was to provide advice similar to White Coat Investor with a voice more similar to Mr. Money Mustache When he first discovered financial independence he had a five-year plan which would have been around 2021 but instead, due to the success of the blog and the realization of his financial situation, he went part-time almost right away We then dive into how he keeps his spending reasonable because so many high-income earners aren’t able to maintain a high savings rate even though they have so much money to work with which he credits to living in reasonable homes, driving cars for 8-10 years, and only eating out a couple of times per month They were spending between $60k-$70k per year for total expenses with a paid off home One area where his family has found efficiencies with spending is through travel hacking Travel hacking just means finding creative ways to use points and miles from things like credit cards and promotions to travel for cheap or even free He has done this for trips with his family to places like Hawaii and Honduras. His family spends around $5k per year on travel but estimates that number could be closer to $25k if he didn’t take advantage of travel hacking We then dive into his goal to spread a message of giving back and his own experiences with doing medical mission work with his family Then we discuss the mechanics behind a donor fund which allows him to donate money now and disperse it in the future where he’s given up to $100k in a given year One advantage of these donor funds is that it allows you to donate investments as well as cash so he was able to donate assets that had greatly appreciated to the fund so he was able to avoid capital gains tax...

On today's episode, Cody and Justin are joined by the dynamic duo of Joel & Matt from HowToMoney.com and the How to Money Podcast. The guys met the How to Money crew at FinCon and the rest is history. This fantastic conversation unwraps their backstory and tons of tangible tips. From groceries to real estate, to building a community for their young families, this episode is great for all audiences. Go give it a listen and let us know what you think! Episode Summary Joel discussion starts out describing growing up around financial stress in the household and how that led to a desire to be financially stable Matt had a better education of finances growing up and had the seed of financial independence placed in his mind We then discuss the dynamics of teaching our own parents about money which can be touchy and awkward Even when discussions are natural you have to respect and understand that your views and beliefs may just be too different to agree on, but that doesn’t mean you can’t support each other The online communities are so powerful because they give us a venue to find  people who view finances the same way and help spur on growth and knowledge The guys discuss the danger of getting hyper-focused on the numbers of financial independence and not enough on the lifestyle you want to have They also discuss a shift in prioritizing time vs prioritizing money the further they get into their journey Matt and Joel also call out several things that just simply won’t show up on a spreadsheet such as proximity to friends, stress, and convenience Matt’s financial journey really took off after finding Dave Ramsey and while he doesn’t agree with everything, it gave him a lot of fundamentals Matt also credits budgeting which gives you a lot of clarity on where your money is going and highlighting where you can improve your spending Joel was always cheap and willing to do things for less His financial journey really took off when he got heavier into real estate where he would live in a house for 2 years, do renovations and move onto the next one. We then shift gears and unwrap Matt’s grocery budget for a family of 5 which they keep to $450 per month His main three tips are avoiding processed or prepackaged foods, cheaper cuts of meat such as bone-in chicken thighs that also have more flavor, and watching the overall quantity of food you’re eating since most Americans overeat Joel mentions another tip which is splitting entrees when eating out since the portions tend to be way bigger than you’d eat at home by yourself The next tangible money saving we get into is biking Biking gives you a workout, takes care of your commute, and saves you a ton of money Joel recommends looking into an electric bicycle for people who maybe have a commute that’s over 10 miles. While they’re more expensive you still can get a workout with the pedal assist and still save money Joel recommends ElectricBikeReview.com for helping you pick the perfect electric bike Matt is down to a one car family and Joel is getting close as well Joel and Matt discuss how they keep the costs of raising children low through creating a community which allows the parents and children to get together and have activities without the costs like registration fees We then jump deeper into Matt and Joel’s real estate investing They talk about renting out an extension on one of their houses and Air BnB in the other Even beyond real estate investing, they both agree that it’s crucial to avoid the urge to keep looking for a bigger house for yourself as your family grows We finish off the episode with Matt urging people to focus on the big areas of your life like rent or mortgage before worrying about things like cutting coupons Joel explains how frugality gives us options Key Takeaways Look beyond the numbers: We loved the takes both guys had on all of the aspects that are so important to financ...

On today's episode, Cody and Justin are joined by Captain DIY as he breaks down his journey to becoming a professional electrician and how that intersects with his journey to financial independence. Cody and Justin have had a chance to hang out with the good Captain a couple of times including down at a Camp FI event. Go give it a listen and let us know what you think! Episode Summary Started money journey 8 years ago when his first child was born Their goal was to save $20k before their son was born He found himself spending a lot of his excess money on musical equipment His biggest change though was bringing his lunch to work and also his toughest He grew up learning how to build things with his dad but didn't see it as a passion and he went to school for graphic design He ended up spending 6 years taking community classes But his leap to being an electrician came from working at a sign shop and realized he might  be worth more to them if he was a licensed electrician to wire up the lighting He recommends starting with small projects to get into the DIY spirit such as changing out handles or painting He talks about the triple benefit of DIY which is saving money, getting a workout, and a lot of self-satisfaction Then he jumps into the potential of vocational high schools and apprenticeships vs traditional college and the debt that typically comes with it He also breaks downs the rates of pay for trades work that you do on your own vs working for another company which is about 4 times He recommends shopping around and talking with multiple tradesmen before hiring one to protect yourself from getting taken advantage of Key Takeaways Understand Value: He saw an opportunity to bring more value to his employer at the sign shop by diversifying his skill. It's always important to know what your boss is looking for and how to make yourself more valuable. Benefits in bunches: It seems like most skills and routines that we do for some benefit also bring 2nd and 3rd order impacts. As he said, DIY skills help in much broader strokes than just finances. Pride in your product: It was clear that the reason he has no trouble finding work is that the product he delivers is top-notch. Whatever work or service you do, be honest, upfront, and deliver what you promise. Just think of how much even one bad review poisons your outlook on a product or service you're considering. If you want to build your brand, it has to be a brand people trust. Call to Action Make or fix something with your hands. There's just something therapeutic and rewarding to creating something or returning value to something that was previously useless. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Sign up for our exclusive newsletter Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please leave a rating/review! The FI show on iTunes The FI show on Android Links from the Episode Electroboom Exploding Guitar Video   Contact Captain DIY: His Blog: DIY2FI.com Twitter: @DIYCaptain Instagram: @DIYCaptain   Learn More About Your Hosts: Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)

On today's episode, Cody and Justin are joined by Timika Downes from The House of FI podcast to share her amazing journey. Her story involves marriage, divorce, children, military service, career changes, and six-figure side hustles. Her constant urge to better herself is truly remarkable and we think no matter what your journey is or where you are on it, this episode has something to offer for you. Time to go listen, comment and show us some love with those ratings.  Enjoy! Episode Summary Born to immigrant parents growing up in projects of Boston In the 5th grade, she was a part of a program where she began attending school in a much more affluent neighborhood When she got in high school, they moved to a two family home and began house-hacking Her parents instilled saving money but no deeper financial discussions She racked up about $94k in debt over the course of her three degrees Timika ended up with a Master’s in Accounting and a Nursing degree She talks about how she plans on handling her children’s education based on what she learned from her experience There was a discussion about a situation she was aware of where the parent’s had different payouts they would support their kid with based on how profitable the degree was they went after. She got married earlier on and they both made good money and bought a house but they never really managed their money or really worked their way out of debt or built wealth That marriage ended in divorce at age 30 and was a wake-up moment for her financially She also joined the military which greatly helped with her college debt She talks about the great experience the military was and her commitment was 1 weekend per month and a two or three week period every summer and she got a $50k bonus plus pay on those duty weekends. After being remarried and having a child, she realized she wasn’t going to stick around for 20 years and get retirement so she stepped away from the military. Once she got debt handled she started looking at side hustles and entrepreneurship Her first effort was for a breastfeeding product to help women feed at work Unfortunately, in the end, she realized the profit margins just weren’t good enough It did, however, teach her how to handle websites and social media campaigns Her recommendation is to spend your time before you spend your money when looking at a new business idea Then she found a very successful business venture in a head lice clinic She got the idea after going through a lice outbreak in a school she was working at as a school nurse Her clinic utilizes a machine that is leased through a University program that dehydrates the eggs of the lice You purchase rights to a region for the clinics and now the business is moving to a franchise model Lice Clinics of America is the organization she utilized to get started She also mentioned that there is a mobile version of the business people can get involved in now In her first year, the business made over $100k of revenue She continues her personal growth by starting a blog, podcast, and even taking coding classes Her tangible tip is to always look at a problem creatively and deliberately and realize that your journey to financial independence is a marathon and not a sprint Key Takeaways Paths aren't always marked: She ended up with three degrees which led to debt but it was part of the process for her to find her path. Some people are lucky enough to have a calling from the time they can talk and others need a little more exploration. Don't compare yourself to others, just focus on finding your path. Failure is our best teacher: This is one of the most reoccurring lessons I've ever seen with entrepreneurship. Timika didn't strike gold on the breastfeeding business in terms of revenue but the lessons she learned were priceless. Invest in yourself: I absolutely love her commitment to self-improvement.

Today's episode is an extra special Valentine's day episode; Cody and Justin throw out all common sense by letting their significant others come on and give you an unfiltered behind the scenes look at what it's like to date someone so determined to retire young. While the girls take plenty of jabs at the guys, we think you'll also get some great insight on how to make money conversations with your significant other much more productive and approachable. Running behind on a Valentine's day gift? Just fire up this episode and grab a glass of wine for the perfect date night! Oh, and don't forget to say happy birthday to Cody! Episode Summary Laura’s parents weren’t into personal finance but she did understand being frugal and buying only what you need Leslie’s mom was big on spending money on experiences and things that were important but at the same time spending smart When Leslie first met Justin she noted how he asked even on the first date was asking questions about what her spending habits are Justin also used a coupon in combo with $2 beer night on their 2nd date Laura talked about her first dates with Cody involved using these free vouchers from Cody’s dad Laura sometimes felt like she was being difficult because she knew she was recommending a restaurant or activity that Cody wouldn’t normally do Then they start tackling positives on meeting someone so frugal Leslie talks about how much more travel it has opened up a ton of travel and how it’s not so much about the total of money but more about maximizing the money so maybe you go on two trips instead of one Laura talks about how dating Cody has changed her habits in relation to finances A common theme is being more intentional with money but at the same time teaching the guys to not stress so much over the small stuff Leslie talks about the importance of us splitting things and how you don’t have to feel like one person is pulling the weight Justin and Leslie say they probably speak about money in some form almost daily Laura mentions that sometimes it can seem overwhelming to talk about finances so much but she appreciates it and it’s better to be aware Then the guy’s swap the conversation to how the ladies have changed their lives Cody mentions things like charity and international volunteering Justin talks about opening up a little on the groceries and when something seems important to Leslie to just do it since they’re already so optimized Justin and Leslie discuss how their financial discussions first started which was spurred about because of Leslie changing jobs For Laura, Cody tried initially with straight numbers which didn’t really work but then once he introduced her to travel hacking it had her hooked The approach of bland numbers was also an unsuccessful attempt by Justin but he too realized the outcome was key. They started focusing on how they wanted life to be and things were a lot clearer Laura talks how Cody talked her into going to Camp FI by spinning it into a vacation Then they talk about how important it is for the guys to also support their passions Laura dreams of working in public works in places like Cambodia Then they discuss how the ladies feel and trust the numbers that the guys are steering to and how they’d feel about not working for upwards of 60 years Leslie & Laura feel confident and also recognize how flexible they and their careers are They then discuss what people who aren’t as focused on financial independence or as experienced would like to hear from things like the podcast Laura & Leslie talk about tips to get your spouse on board with a journey to financial independence such as recognizing things that are important to the other person and not crossing that line when drawing down expenses Key Takeaways Appreciate their sacrifice: It's often easy to look at yourself and feel proud of how you might be shaping up the finances for you a...

In today’s episode, Cody and Justin bring you an incredible story that starts in poverty but ultimately dismisses a strict following of frugality. Dom was raised in unfortunate circumstances but quickly started latching onto mentors at a young age. He even had a pretty successful business selling candy bars at school as a young kid. Since those days Dom has continued to sharpen his skill and has outlined a method for gaining promotions and raises at a high degree of success. He now brings in over $300k per year and is ahead of schedule on his amazing goal of $10M! He also gives an interesting take on becoming an "Intrepreneur" where you still work for someone else but with the autonomy and compensation you desire. Episode Summary Grew up on welfare Parents were drug addicts His dad spent a lot of time in jail for producing meth He gained sight of the FI movement through “Rich Dad Poor Dad” Finds his motivation from people who are more successful than himself In 6th grade, he found out about a place that gave you free pizza if you folded boxes He got to know the owner who was his first mentor At the pizza place, he learned about inventories and staffing That little job also helped him understand the correlation between the amount of work you put in and your reward He started selling candy in elementary school and was making 60-100 dollars per week just selling candy Around 2014 he started noticing extreme frugality wasn’t working for him and he went to a 50/50 model where he saved 50% of his income and spent the other 50% guilt free regardless of income They now spend $110-120k per year He interned with a company in college and would eventually take a job with them as a financial analyst He really focused on outworking his coworkers and worked 80-90 hours a week for his first 7 years out of college Some of those hours were on the side learning new skills and not just on his job He talks about the importance of marketing whatever your skill is Knowing what you’re good also means being very self-aware A great quote he had was “failure isn’t because you didn’t have the resources, it’s because you didn’t have the resourcefulness” He also talks about how important “Luck” is but refers more to being prepared when these seemingly random opportunities come along The skill he learned was being the translator between the Financial and IT sections of the company To help find your own skills you should hone in on, ask other people what they think you’re best at, what are you getting complimented on. He gives tips on getting pay raises and when it’s time to just jump ship He actually recommends sitting down with management and agreeing to what it would take for a raise or promotion and what your pay increase would be and have them sign off on it, email it to them, and track throughout the year sign, scan and email it to them and then come in at review time with evidence that you met it and asking when the raise is happening? I mean I love that but never heard of it and secondly when you’re swapping jobs, do you have a time frame like X number of months prior to leaving that you start scouring linkedIn, are these contacts from your current business, how does finding that next job look? He used this method at one point to gain a $60k a year pay increase and promotion Dom was able to make this deal by implementing a strategy that would save the business 60k every year indefinitely He also recommends staying in touch with recruiters to check in with periodically to see what other people are making at a position similar to yours This also leads into a term he calls “Intrapreneur” where he’s more than an employee and has earned a lot of autonomy He has since negotiated a stake in the company and bonuses so he has the best of both worlds While he has to work a lot and across a lot of time zones he’s able to work from anywhere and at any time so...

In today’s episode, Cody and Justin bring you an awesome episode full of philosophical discussion to go along with the background of Grant Sabatier who went from $2.26 in his checking account to $1.25M in 5 years! Our main hope is you come away with a little more insight into Grant's brain as we tackle some interesting questions like Do people optimize too much? Can a journey to FI be harmful? Does someone need to know their why? Is becoming an entrepreneur the answer? If you enjoyed this episode or want to get to know more about Grant, we encourage you to pick up his new book Financial Freedom today! Episode Summary Graduated with philosophy degree Bounced around 4 jobs after college Was laid off twice Spent what money he had going on a big trip to Africa Ended up back at his parents with $2.26 at age 24 He was also carrying credit card debt His parents gave him a 3 month time limit to figure things out This was during 2010 He started googling for books about money and landed on Your Money Or Your Life as well as Automatic Millionaire Grant realized if he was going to be trading life for money, he became focused on how he could make as much as possible He sat a goal to make $1M and retire as soon as possible A few weeks later he discovered Google Mobile Ads as well as a free certification course He was immediately hired upon completion He started making $50k It was until 2.5 years later that he found others on the path to financial independence at a young age He working extremely hard working 7 days a week most of the time He started building websites plus flipping VW vans and mopeds, and flipping domains Today he still has over 800 domains He began to gain a lot of traction with his main job of managing Google campaigns He attributes this to understanding how he's perceived, knowing what value he brings, and understanding what his clients need to do to impress their boss One tactic he had was actually writing messages for the client to express how this deal would be good for them Then he talks about how easy it is to see the difference between someone just putting in a lot of hours and those they put out quality work The discussion then swaps to skills which Grant refers to as the future currency Also to make sure that you learn skills that may not tie together at surface level like analytics, sales, and coding Great quote I don't know how to do that is no longer an excuse in this digital age He talks about how at 18 when graduating from high school, you simply don't know what you want to be so a structured plan can be tough but you have a huge opportunity to take risks He argues that too much personality finance writing is about cutting out things that we enjoy or being too afraid of debt To worry more about making more money vs stressing about something like student loans He talks about knowing where you want to go and then focusing on how much you need to make to get there instead of settling on what you think you're worth Grant talks about knowing where you want to go and then focusing on how much you need to make to get there instead of settling on what you think you're worth He also talks about the risks of climbing the corporate ladder and what that can do to your life and family Then we talk about over optimizing our lives and our budgets This ties into how much of our life we miss by not living in the moment and how Americans struggle with this more than some countries He also admits that he gave up to much life and experiences by being so hyoerfocused on retiring You can be just as addicted to saving money as someone who is addicted to spending it and both are dangerous His wish is that everyone who finds themselves in a job they didn't love would take 6 months off without a concrete plan to discov...

In today’s episode, Cody and Justin bring you the boss we all strive to be. She realized being a lawyer wasn't in her future and swapped career paths to the tech industry and never looked back. While she makes a hefty income with her day job, she maintains a dedication to side hustles. We also loved J's alternate take on Financial Independence by not rushing it. She loves her jobs and wants to be very stable. Just another great example of the many paths to FI. Episode Summary Studied political science in college She thought she would become a lawyer Became a legal assistant at age 22 She was in Boston and then moved back in with her parents Some of her friends started blogging She started her own blog about studying abroad to help students figure out where they should study She finds an internship for the U.S. Olympic committee for digital marketing Started working at USOC in 2012 All the experimenting with her blog directly translated with her new internship at the USOC She turned that internship into a full time position where she would work with the field hockey team She still uses a lot of the same strategies she did with her first blog including hiring out some posts on areas she isn’t as familiar with and  using keyword planning tools One strategy she uses is to write content that’s funny and slightly controversial She talks about the power of pintrest as the “Google of Pictures” and allows for tons of free advertising J talks about how important it is to experiment with posts and pictures early on when your readership is low to figure out what works She felt like the USOC job was great but wanted to learn from a bigger company Her focus was on tech jobs in a fortune 500 company She landed a job with an insurance company in Colorado as a project manager She cited her management of a website that she helped a startup create with $15k as project management experience which allowed her to land the job Her job was working with engineers to develop internal software She got her Master’s reimbursed and got it in Information systems Worked there for 3.5 years She networked at the Grace Harper celebration There she interviewed at a Silicon Valley tech company and made the move to California 9 months later She received the AnitaB.org scholarship to Grace Hopper Celebration She got a pay bump from the move to California Although the standard of living there is more expensive she actually lowered her expenses in Colorado by living in a tiny 1 bedroom At that time they were in debt from student loans and other various debt They became debt free in 2016 After a year of living in Silicon Valley she realized it was not for her She moved to the pacific northwest where she feels she can get the best of both worlds She loves her job so much now that she’s not hyper-focused on the retire early portion of FIRE There is a desire to spend more time with family but she worked a deal with her current job to work remotely from time to time in an office near them J’s list of best side hustles: Air BnB, Turo, and her new favorite -- Etsy digital downloads Key Takeaways You can never learn too many skills: J went to college for political science and now earns a majority of her money through tech and blogging. She was able to increase her perceived value by constantly gaining new skills! Design your lifestyle: Taking "risks" yields rewards. J was never afraid to take a leap at a new opportunity. Whether it was moving across states, trying new jobs, or finding a new role, her ability to take these risks vastly improved the trajectory of her life. Don't be afraid to take calculated risks! Enjoy the FI journey: You don't have to hit your FI number or reach your cash flow goals as fast as possible. J explains how she is enjoying her journey and soaking up as much as possible along the way. Call to Action

In today’s episode, Cody and Justin bring you the creator of what we believe will be the future gold standard of Credit Card rewards accumulation, tracking, and redemption. Anik Khan started creating businesses at age 14 where he would redesign websites for thousands of dollars. He would go on to college to pick up management skills and work a few years as a management consultant before starting the rewards app called Max Rewards. The app is currently in beta but should be ready in March 2019. You can gain early access by going over to Max Rewards and hitting download. Make sure you let them know the FI Show sent you! Episode Summary Came to the U.S. when he was four through a lottery program his dad earned He grew up in New York on a low income He started looking for ways he could help contribute to the family When he was 12 he started learning HTML He actually ended up redesigning his middle school website At 14 he started up a website to launch his own business Some of these jobs would pay up to 19k for a project His mom was worried he was up to something illegal Throughout high school he got paid around $50k and $30k of that was profit This business started around 2005 He goes to his mentor to try and borrow $50k to really kick his business off but his mentor knew he wasn't ready because he didn't know management So he goes to college and interns with some medical offices He looked into starting a business to replace college learning management systems but realized it would be a very long time before it could become profitable After college, he got into management consulting Through his consulting at Accenture he started traveling a lot With a recommendation from his boss, he started looking into travel rewards From there he built models to track the best cards to use He's earned over $20k in travel rewards Sometimes he would even check in and out of hotels around a town while traveling to get more bonuses He also talks about stacking discounts and rewards This led him to his current venture called MaxRewards This app provides a much deeper analysis of which credit card is best for you than any currently offered Then the app helps you track which cards to get next, how to get the bonuses, what rewards you have left to use, and which card is best to use when He talks about the false information about opening up credit cards having sucha negative impact to credit scores In reality, it will probably help you or stay the same Anik starts talking about future phases of the apps that focus more on redemption instead of just accumulation This app is shaping up to combine many different applications into one extremely powerful rewards application They are starting to open the app up for beta testers currently The app is set to launch sometime in March You can get priority access to the app by going to Max Rewards and using The FI Show as a note when signing up The app is also completely free In the future, the reward redemption portion will be a premium feature This app has a bright future which started by winning the FinTech competition at FinCon this year Key Takeaways You may not be ready: Anik wanted to jump in head first for his first business but a mentor let him know that he needed to learn more first. There's a fine line between taking that first step and overextending ourselves. It's ok to stop and prepare so that our first big venture is a success. Listen, Learn, Iterate: I love how Anik talks about where Max Rewards is going after getting the basics solid and getting feedback. Just like agile software development, our lives should be a steady improvement with tangible outputs. Convenience is coming: One of the biggest reasons people shy away from tactics that are often associated with FI is because it's not convenient. While we could argue for and against that idea all day,