
The Financial Independence Show
Cody Berman and Justin Taylor believe in the concept of “Financial Independence For All”. The Financial Independence Show focuses on REAL stories of individuals on their journey to financial independence. Each episode aims to include actionable insights and takeaways for listeners to implement into their own financial situation. The podcast covers topics like building wealth, entrepreneurship, investing, money mindset, small business, frugality, geoarbitrage, side hustles, real estate, productivity, travel, and so much more. Sit back, tune in, and join a community of like-minded people who are changing their lives through financial independence.
Latest episodes

Feb 14, 2019 • 35min
Frugal First Dates to Money Mates – Valentine’s Day Special w/ Our Girlfriends
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...

Feb 12, 2019 • 51min
How to Maximize Your Income Potential | Gen Y Finance Guy
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...

Feb 5, 2019 • 1h 24min
The Proven Path to Financial Freedom | Grant Sabatier
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...

Jan 29, 2019 • 48min
Climbing the Corporate and Entrepreneurial Ladders | J from Millennial Boss
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

Jan 22, 2019 • 48min
How Travel Rewards Turned into an Entrepreneurial Venture | Anik Khan from Max Rewards
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,

Jan 15, 2019 • 42min
Full-Time YouTubing, Medical Tourism, and Retired by 30 | Mike and Lauren
In today’s episode, Cody and Justin bring you the dynamic duo of Mike and Lauren. You may know them from their fantastic DIY YouTube videos or hearing about their huge European travels.
These two have had some interesting jobs: experimental marketing, gemologist, commercial real estate, and YouTube guru to name a few. They've never had a typical desk-job but that hasn't stopped them from being retired by age 30!
Oh, and did I forget to mention they have two kids which they gave birth to in Costa Rica? Trust me there's a lot to unfold her so you'll want to listen for sure.
Episode Summary
Met when 12
Dated at 15
Married at 19 and 21
Never had a desk job but have been employed a couple times
Started a commercial cleaning company in college in 2007
Got successful so he dropped out of college
She moved to New York City and became a gemologist
They lived with family while she was getting her gemologist certification
She now stays home with her two kids
She started making $50k after her 6 months of schooling
He then got into this experiential marketing gig where one of his jobs was to create a mobile quicksand booth
He talks about the hardest part of starting his cleaning his business was going door to door and getting told no so many times as he tried to get the word out
They got their first big contract was through word of mouth but they underbid by a large margin
They initially bid $10k per month and then quickly realized they needed to increase to $24k per month and their client was totally cool with it
She worked at Saks 5th Avenue and Tiffany's
They loved NYC but it was just too cold for them after 3 years there
He did some lighting and production for a church and she worked at a friends Jewelry store when they moved back to Florida
They both worked at those for 4 years and quit
She quit to have their first son and he quit to go full time on YouTube in 2016
His first year on YouTube he made $20k
His second year that jumped to $68k
They did a 10 week trip for two across Europe for $10k which spurred the idea of doing YouTube travel videos
They jump into how they still continue to travel even with kids including a 7-week backpacking trip to Europe
They recommend traveling a little slower with kids and not bouncing from city to city every couple days but maybe every week
After seeing some success from their YouTube channel they started making online courses
They gave birth to both kids in Costa Rica
They did so to get dual citizenship and avoid a lot of health care costs
U.S. healthcare wouldn’t give them exact quotes while Costa Rica gave them a specific menu
They gained full citizenship and their children gained dual citizenship to Costa Rica
They had the affordable care act plans which allowed them to have really low cost of insurance due to their low income when covered
They pay $50 per month to be a part of Costa Rica’s universal health care system as a fall back plan
They retired when he was 30 and now just blog, YouTube and travel
They’re cash flow FI vs the traditional large nest egg FI
They completed the purchase of a warehouse were the cash-flow comes from through owner financing
The warehouse needed a good bit of work that Mike was able to do mostly himself outside of some plumbing and electrical
Key Takeaways
Stability isn't necessary: We often stay focused on building careers and working our way up ladders. They showed that we can keep things fresh and do a wide variety of jobs and still make perfect progress towards early retirement.
Don't assume America is the answer: They chose to go outside of the U.S. for healthcare and it was only partly to save money. They also appreciated the transparency and stated that the level of care was beyond what they would have gotten at a local hospital anyways. Challenge assumptions such as the U.S. being your option for healthcare.

Jan 8, 2019 • 40min
From Unemployment to Geoarbitrage | Rob from Getting Canned
In today’s episode, Cody and Justin bring you a truly optimistic outlook on getting fired. Rob from Getting Canned walks us through his story of losing his job at one of the worst times in history, in 2008 during The Great Recession.
Rob's struggles lead to finding an amazing income source and international travel opportunity all in one. Rob moves to Taiwan where he would teach English for three years and make some fantastic memories while the economy recovered.
Tune in this week to see yet another showcase at how financial independence is possible for all.
Episode Summary
Recently lost his job after working there 4 years
He was placed on a performance improvement plan prior to getting fired
Started a blog to be a resource for people who had lost their job
Created a checklist of all the things to do when you find out you may be getting fired
He talks about filing for unemployment and rolling over your 401k as really important parts of the checklist
Had gotten fired in 2008 and went unemployed for 2 years
Decided to go to Taiwan to teach English
It was an amazing experience for him and feels that it’s a great option for “Barista Fire”
He was paid $20/hr working 20 hours per week
His first job actually came with free room and board
He stayed in Taiwan for 3 years with one 6 month break in between
2008-2010, during his unemployment, he met a lot of frustrations with applying for jobs
He talks about how unemployment can prepare you for your FI lifestyle
He got in the best shape of his life during that period
Rob got the idea of moving to Asia to teach came from meeting someone randomly who had done it.
He considered Japan, China, and Taiwan
He did a Skype interview where he had to do a practice teaching session
The main requirements were to speak with an American accent and a college degree
He got a tourism VISA for 60 days that the employer then helped them change it to a work VISA which was good for a year
His first apartment was a studio in new and in a nice neighborhood for under $400/mo
He used their great public transportation system
The medical care was what he found to be the biggest savings
At one point he to go to the emergency room to get stitches with anesthesia was $30
He mentions the odd type of side jobs that are possible in those unique situations
One was being approached to be an actor in a short because he stood out so much in Taiwan
The primary language there is Chinese
He learned a little bit just to “survive”
He talks about how knowing English opens you up so much for travel
One certification he recommended was TEFL which helps with getting some of these jobs
He also recommends Upwork and Fiverr, and Wyzant as good resources for gig economy especially in times of unemployment
Rob also implores people to diversify their income streams and go through the thought process of what it would be like if you lost your job tomorrow
Key Takeaways
Resourcefulness is a superpower: We see this all the time. Whether it's keeping grocery bills low, finding free furniture, or finding work. Resourcefulness and flexibility are these amazing superpowers that make financial independence almost unstoppable.
It is ok to ask for help: I thought it was really humbling to hear Rob talk about taking unemployment. It can feel like you have failed but everyone has moments that they need help and it's likely you paid your fair share into programs like unemployment anyways.
The world isn't so scary: This is the biggest takeaway for sure. The world can seem massive and scary but if you can read this, then you probably know English and as English speakers, we often take for granted just how accessible this world is to us. Rob barely learned any of the language and still survived just fine. He worked there for several years and even made a trip to the ER. So what's stopping you from stepping out into some unfamiliar territory?...

Jan 1, 2019 • 56min
Financial Independence Philosophy and Origin Story | Paula Pant from Afford Anything
In today’s episode, Cody and Justin bring you one of their favorite episodes to date. Paula Pant is always conducting great interviews herself but today she's the one answering questions. She walks us through her amazing story of only three traditional years of employment, traveling the world, and the steps she took to secure her financial independence.
There is something for everyone in this episode. You've got philosophy, entrepreneurship, freelancing, and even some great real-estate tips. This discussion also gets into focusing also on increasing income and not just being consumed by minimizing expenses. Paula calls this "The gap" or the delta between your earnings and expenses. Go check out the episode for yourself and let us know what you took away from the show.
Episode Summary
Grew up in a normal middle-class family where they weren’t rich but didn’t have to worry about money
Paula had a desire to study abroad in college but the prices were too high
She decided instead to work for a few years to save money and then travel
Graduated college in 2005 and started at a newspaper making $25k per year
She worked there 3 years topping out at $31k per year
On the side, she was freelancing and earned an additional $25k on the side in a travel fund
Quit her job and left her lease in 2008
She backpacked around Egypt, Cambodia, and other countries on a budget of $1k per month
When she returned from her trip she decided to go full-time freelancing
After 18 months, her freelancing was making over $100k per year
She began taking her excess income and investing in real estate
The rental properties are now netting over $40k
She talks about how achieving in life drives her to continue to work consistently vs just doing the gig economy and bouncing around
We discuss how important it is to find a job you love to do because any skill can be spun into a high paying job
She talks about the pressures of growing up in a Nepalese culture and how you’re expected to either be a doctor or an engineer in order to escape
We discuss how so much of the FIRE movement revolves around spending what seems like extremely frugal lifestyles when in reality it’s just normal life for so many people in America and across the world
She also discusses how more of the focus should be on the income side of the equation vs the spending part of the equation
This led us to the discussion of “The Gap” or the difference between earning and spending not necessarily just one side of the equation
The conversation then swaps over to an overview of Paula’s real estate investing
It’s clear that Paula has a passion to read and to learn and talks about how the internet has now democratized learning
She gets into what she looks for in a house from both the location and physical attributes of the home and how she’s purchasing houses from a distance
In 2019 she will be launching her own real estate course
She talks about how financial independence gives her time to be with others and volunteer
She continues to travel and was actually out of the country when the Suze Orman interview went viral
We discuss her hitting $1M net worth around 30 and the changes she would make if she had to do it over again
Key Takeaways
What do you want? Paula describes how no matter what your passion is, it can be profitable enough to become wealthy and find financial independence. Her work at a newspaper was low paying but she took that same skill and passion and became her own boss and increased her salary by 500%.
The gap. We loved this explanation. Instead of debating whether you should increase your income or decrease your spending, just focus on the gap between the two. Both are very important so don't let either of them become the center of attention. Just focus on the gap.
What FI can bring. The examples Paula gave with what she is doing with her flexible time were so important to think about when you...

Dec 25, 2018 • 40min
Christmas Thoughts, 2018 Reflection, 2019 Goals
We have an extra special gift for you today that requires no wrapping paper. This Holiday special Justin and Cody go at it alone with no guest to discuss their perspectives on materialistic Christmas, a brief recap of 2018 and their goals for 2019.
We think you'll really enjoy getting to hear a little more from your hosts this week and see a little more behind the curtain on their personal lives. At the end of the episode, we asked that you start writing out your goals and sharing them with us so we can keep you accountable. You can drop those goals in a voicemail at TheFIshow.com/voicemail or look out for a thread on the facebook page at TheFIshow.com/community.
Episode Summary
Here's a breakdown of what we cover in this episode.
Materialistic Christmas Discussion
Justin and Cody discuss how their families viewed Christmas and gift-giving growing up
They also discuss how the Financial Independence community has changed their own views on it
Justin makes a case for a materialistic Christmas being a positive thing in households where some family members never buy themselves anything absolutely necessary, thus giving them one chance per year to have something simply for enjoyment.
They both discuss their most memorable Christmas gift which actually both turned out to be the thin PlayStation 2.
It's also very clear though that they both value experiences over these items today
Review of 2018
2018 was a packed year for both of the guys
Cody started the year off with 5 months in Australia...wow this whole FI lifestyle sure is restrictive
Justin kicked the year off with a trip to Iceland and kept the traveling going with 2 trips to Mexico with some scuba diving, three trips to Denver, the Grand Canyon, countless concerts, trip to the Hamptons, Vermont ski trips, and attended a UFC title fight
This year is also the year Cody got deep into the FI movement and began Flytofi.com and this podcast
Justin spent 5 months in a hotel due to a house fire but came out of it with 2.4 million Hilton points as a concession
Cody got a chance to practice his speaking chops down at CampFI south
Speaking of CampFI South, that's where Justin and Cody actually first met back in September.
Justin then joined Cody as the new co-host of this podcast when T.J. had to step away.
So far they've seen 20k downloads but feel like they're just now gaining traction and getting their systems set up to be more efficient with their time
Just has also continued his work on his own blog Saving-Sherpa.com where he gives extreme transparency into his expenses and investing
The hopes behind this are to try and show people you can still live a really exciting and rewarding life while on this journey
He is also proud to still maintain his $60/month grocery bill for the 4th straight year
Justin's savings rate is over 75% while paying rent and living in Boston which works out to be about $24k in annual expenses
His net worth grew $68k this year even with the rough markets
Cody is able to save 85% of his income while living at home. This gap between his income and expenses gives him amazing flexibility!
Goals for 2019
Cody is starting the year off with a bang by stepping away from his job and going on a nationwide book tour with Grant from Millennial Money
Justin looks to continue his savings rate success and build more upon his blog
They are both very passionate about growing the podcast and increasing their reach
You can tell they go big on goals when they set the mission for 1 million downloads before the end of 2019
They think they can do so with a mix of fantastic headliners like Paula Pant and stories that had previously never been told like Jimmy the mailman from Arkansas who is already FI at 28 through real estate
The guys also want everyone to share their 2019 goals with them and keep everyone accountable
Key Takeaways
Materialism can have a place.

Dec 18, 2018 • 46min
A Military Member with a Massive Financial Turnaround | The Incredible Cash Dummy
In today’s episode, Cody and Justin bring you a story that's just beginning. This interview with The Incredible Cash Dummy steps through a life quickly changed by having a child in high school and joining the Navy soon after. He then went for years with no financial direction.
A recent military move was compounded with his wife getting pregnant again and her losing her job, he had a major light-bulb moment. A little over a year ago he discovered the financial independence space and has become hooked. Tune in to see how he is correcting his path and taking ownership of his finances.
Episode Summary
Grew up in normal middle class family where they weren’t rich but didn’t have to worry about money
Then during his junior year of high school he gets his girlfriend pregnant and had his son at 17
At this point all he knew about finances was trying to avoid impulse purchases
He continued living with his parents and graduated high school and working part-time at a steak house
The Cash Dummy realized college wasn’t for him so he decided to enlist in the Navy
He was clearing $800 per month and paying $155 per month of child support
His housing and food was covered through the military and he lived on base so he was able to save
His first investing was through the Thrift Savings Plan which is the military’s version of a 401k where he put in 7% of his check monthly
Realized he should take his finances more serous around 2010 when he heard everyone complaining about their stocks and the recession
He then noticed he had been investing unknowingly into nothing but the G fund which is government bonds that are basically just a shelter against inflation
He mentions being lucky that he worked with other sailors who talked to him about finances and walked him through how all the funds work
Gets stationed in Japan and where he receives some extra location pay and benefits from the yen conversion
At this point he is more conscious about investing but still not a great saver
He mentions how the military culture and surroundings of the base can be troublesome for young enlisted and their finances
He talks about the need for military services to make financial training an annual requirement
At 20 he started using credit cards which he struggled to use responsibly
While he struggled with credit cards he never fell into the fancy car trap
He ended up with $10k in credit card debt
He got married in 2013 after 8.5 years in the military and was now an E-6
When the finances got combined their total debt was $15k
They blew all their extra money on eating out and travel and only saved the 7% TSP
He got promoted to E7 and had to move for his next military assignment
His wife was pregnant with his third child and she was going to have to quit her job
All of this led to his light-bulb moment in 2017
She took unemployment for 9 months
His child support has now increased to $900 per month
A coworker introduced bigger-pockets to him and showed him the quad chart video from Brandon Turner
He dove in hard to bigger-pockets including the forums and podcasts
That led him to all the other members of the financial independence space
He sat back for a couple months trying to understand everything before he acted
It then took a few more months before him and his wife were both on the same page
At this point he went from 7% to TSP to 10%
He borrowed against his 401k to pay off high interest credit card loans
He also took on a second job for a while at $16/hr to pay off loans doing janitorial work
There was a fear that all of this would negatively impact their lifestyle but they didn’t notice that at all
He tried YNAB but that didn’t stick
Instead he went to the Anti-budget which fit much better
Now he’s started his own blog, TheCashDummy.com, to help people who found themselves in the same situation and mistakes he did