The Financial Independence Show

Today, we're re-airing our most downloaded episode featuring Grant Sabatier, owner of Millennial Money and author of Financial Freedom. Grant graduated with a philosophy degree and would bounce around 4 jobs after college while being laid off twice. He spent what money he had going on a big trip to Africa before he ended up back at his parents with $2.26 at age 24. It was 2010 and his parents gave him a 3-month time limit to figure things out. Grant realized that no matter what he did,  he was going to be trading life for money. With that knowledge, he became focused on how he could make as much as possible and as fast as possible. A few weeks later he discovered Google Mobile Ads as well as a free certification course which allowed him to get hired on making $50k per year. The work just kept snowballing from there and he found himself working 7 days a week. He spread himself across tons of projects including Google Ads, building websites, and even flipping VW vans. A big point of emphasis from Grant is knowing where you want to go and then focusing on how much you need to make to get there. Do that instead of settling on what you think you’re worth. He also admits that he should have slowed down a little bit on his journey to financial independence. Grant believes 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 to discover their passions. This episode is jam-packed with value but our top three takeaways were: Skills are future currency: Grant speculates that, in the future, our economy will operate in such a fashion that each of us represents our own little “island” of talent. Our skill sets and capabilities will determine how much we earn and succeed. Start learning some new skills and building your future currency net worth! Take a step back and breathe: After Grant set his goal of accumulating $1.25M, he turned his engine on hyperdrive. If he could turn back time, he says that he would have taken a step back to breathe and realize all of the freedom he had already created at that moment in time. Enjoy the journey! Budgets Shouldn’t Restrict You: If you feel extremely deprived on a budget like Grant did, it might not be a great option for you. Instead, get the big things right (housing, transportation, and food) and then spend your money on the things that truly bring you joy. You don’t have to cut out your Starbucks! If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend! Links From the Episode Financial Freedom: A Proven Path to All the Money You’ll Ever Need Millennial Money – Grant’s Blog Grant's Twitter Grant's YouTube 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

When it comes to building businesses, Nick Huber from The Sweaty Startup is the real deal. Back in college, Nick had some extra space in his apartment and someone was looking for storage. Seeing an opportunity, he gladly offers up his room as storage space. When that fills up, he starts collaborating with some of his roommates to use their rooms as storage for the summer. Fast forward a few years, and Nick had a 7-figure storage business on his hands. This wasn't some radical new idea and yet it turned out to be radically profitable. Nick feels like most businesses fail because people get too fixated on creating the next revolutionary thing instead of just solving the problem in front of them. He breaks this down by listing his top 3 reasons businesses fail: New idea syndrome = huge risk, educating customers that you even exist, and competing with huge money and venture capital. Change the world = It is not realistic for an inexperienced entrepreneur without massive capital to change the world. Passion projects = people start businesses based on their own selfish desires and their own interests and not what the market wants. Many of Nick's businesses came from scratching his own itch. He hires a company, sees glaring inefficiencies, figures out how to do it better, and then productizes the new system into a business. This has happened multiple times and he now runs a portfolio of successful businesses. We also cover how Nick is using a strategy called cost segregation to pay $0 in income tax despite making millions of dollars in net income (he even started his own cost segregation business after seeing so many inefficiencies in the market). If you enjoyed this episode, check out the links below for more content, and don't forget to share this podcast with a friend! Links From the Episode Personal Brand - https://sweatystartup.com/ Self Storage - https://boltstorage.com/ Overseas Staffing - https://supportshepherd.com/ Cost Segregation - https://recostseg.com/ Insurance - https://titanrisk.com/ Business Brokerage - https://nickhuber.com/ Nick's Twitter Nick's Instagram But that's not all... he also has a hand in these companies not mentioned in the episode: Recruiting - https://recruitjet.com/ Landing Page / Web Development - https://webrun.com/ Debt and Equity - https://bluekeycapital.com/ Tax Credit - https://taxcredithunter.com/ Performance Marketing - https://adrhino.com/ Pest control - https://spidexx.com/ YouTube Interview https://youtu.be/slBB9TBGDTY 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

We (Cody and Justin) have both achieved financial independence through drastically different paths. This episode was a takeover episode for The Mad Fientist's podcast where we break down the similarities and differences between an employee's path (Justin) and an entrepreneur's path (Cody) to FI! Highlights: Live-in flip vs. house hacking The sweet spot for buying used cars Why focusing on fixed expenses is important How to 5x your corporate income The unlimited upside of entrepreneurship How to get started investing if you're scared/nervous Nest-egging vs. cash-flowing your way to financial independence The benefits of a Solo-401(k) for entrepreneurs Why the corporate world is great for certain types of people Benefits and downsides of entrepreneurship Why it's important to not keep up with the FI Joneses either If you got value out of this episode, please share it with a friend! Links From the Episode The Mad Fientist's Podcast Our Mega Backdoor Roth Episode The Mad Fientist's Mega Backdoor Roth Article Mad Fientist's Twitter 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Today, we're lucky enough to bring you Marko Zlatic from WhiteBoard Finance. Marko grew up in a middle-class household raised by immigrant parents and is completely self-taught when it comes to money, investing, and financial literacy. His investing journey began when he started flipping Pokemon cards and selling mixtape CDs as a kid. He then graduated to invest in stocks at 18 years old. In December 2010, Marko graduated with a Bachelor's degree in Finance and started working full-time. After working in tech startups, commercial real estate, and publicly traded banks, he decided to start his YouTube channel, WhiteBoard Finance, in November 2017. Marko walks us through his personal portfolio allocation, tips for building your own diversified portfolio, and lots of terrible advice to watch out for online. He also gives us his take on the current state of the economy as well as his insights on how Bitcoin could factor into all of this. If you enjoyed Marko's story then check out the links below for more content and don't forget to share this episode with a friend! Links From the Episode Whiteboard Finance YouTube Marko's Instagram Marko's Twitter The Bullish Case for Bitcoin Inventing Bitcoin The Bitcoin Standard YouTube Interview https://youtu.be/lzeMhthfg9g 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Patrick McGrath, one half of the dynamic duo known as The Rental Property Couple, is a successful real estate investor, entrepreneur, and co-host of the popular podcast, The Real FI Podcast. Alongside his partner, Patrick has built an impressive rental property portfolio in just 5 years that totals over $5M. He began his portfolio with a humble single-family rental property. Dedicated to achieving financial independence, he expanded his portfolio of rental properties, adding a triplex, quadplex, 6-unit, 7-unit, and 10-unit building. Today, Patrick and his partner own 35 rental properties, each contributing to their remarkable success. With this portfolio, Patrick was able to quit his successful career as a regional sales manager two years ago, fully dedicating himself to growing his real estate business. This decision further cemented his commitment to financial freedom and allowed him to focus 100% on expanding his investment empire. From property acquisition strategies to effective management techniques, Patrick's insightful content has become a valuable resource for those looking to build wealth and achieve financial freedom through real estate investing. If you enjoyed this episode or maybe know someone who would be inspired by Patrick's story, share this episode with your network! Links From the Episode The Real FI Podcast The Rental Property Couple (Instagram) The Real FI Podcast - YouTube Channel YouTube Interview https://youtu.be/VQDa5zVPdH8 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

We've interviewed countless people on buying real estate, but that didn't mean we were prepared when we purchased our first properties. The reality is that people who have purchased a lot of real estate tend to skip past some of those tiny details. This episode is meant to slow down and cover all those details that a first-time home buyer needs to remember. In this episode, we cover: Understanding how much you can afford Setting your housing criteria Understanding fair market value Getting approved for a loan Building the right team Touring properties Getting an offer accepted Closing on the home Post-closing checklist We hope this is an episode you can always refer back to when you get ready for that first home purchase so you don't get surprised like we did. If you got value out of this episode, please share it with a friend! 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

If you find yourself in the unfortunate reality that your marriage isn't going to work out, do you know how to ensure you'll exit the relationship fairly from a financial perspective? Or maybe you want some tools to help you avoid this situation in the first place. In this episode, Tracy Coenen, author of Find Me The Money, walks us through the ins and outs of financial protections you need to know involving the topic of divorce. We cover Money conversations Financial accounts Prenups Postnups Asset valuation Financial infidelity And more including some tactical tips and strategies. The topic of divorce is never fun, you'll feel better knowing this information if that day ever comes. If you enjoyed this episode or maybe know someone who could use the expertise Tracy brought us today, share this episode with your network! Links From the Episode Tracy's company, Fraud Coach Tracy's new book, Find Me The Money Tracy's LinkedIn YouTube Interview https://youtu.be/a2sQPw1VInU 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

We say web address but why don't we think about sites more like physical addresses we might own in a real estate portfolio? Chelsea Clarke joins us today to show us just how powerful digital real estate can be (aka websites). Back in 2012, Chelsea was laid off from her corporate marketing job unexpectedly. This experience taught her that being an employee was too risky. So she set out to take responsibility for her own wealth and became an entrepreneur. She was determined to never have to return to working for anyone else again and launched HerPaperRoute as a way to share marketing and growth-hacking resources for other niche site investors. In 2019, she'd go on to create an online marketplace for buying/selling websites at Niche Investor. Chelsea found her niche and doubled down. She took a large but calculated risk and went all in on herself and building out this digital portfolio. If you enjoyed this episode or maybe know someone who could use guidance in building their site or a jumpstart by purchasing an established site, share this episode with your network! Links From the Episode Her Paper Route Niche Investor > You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

How do you map out your path to financial independence? And how can you find a persona you resonate with to mimic? Kimberly joins us today to provide answers to both of those questions. She created Beworth Finance and wrote Building Wealth on a Dime, to help empower everyone to find financial independence even if they're starting small. Kimberly hasn't always had her money figured out though. She moved to Washington, DC making $15/hour in 2012 and more student debt than she made in an entire year. This led to a lot of time being stressed about money. But through that process, she perfected a system that allowed her to pay off over $45,000 worth of student debt in three years, double her income in four, and buy her first home, before her 30th birthday, in five. Fast forward to today, and she's currently on track to be work-optional by age 45. Grab the link to her book below where you can learn things like: Six million-dollar habits Money mindset Building a budget Tackling debt Investing Renting vs buying and much more If you have someone in your life who could use some help mapping out their path to financial independence, share this episode with them! Links From the Episode Beworth Finance Build Wealth on a Dime > You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Spending too much on groceries each month? In this episode, Cody interviews Justin about his $107/mo grocery bill. For many years this number floated closer to $70, but with inflation and a larger focus on getting in great physical shape, that number has grown but is still insanely low. And not only do we cover meal ideas, but we also cover the basics of shopping. List or no list How often to shop What to buy Where to find deals How to navigate the store Take a look at this meal below which is a typical meal for Justin. This plate has 370 calories, 50.5 grams of protein, 30 grams of carbs, and 6 grams of fat. It's made up of 5.3oz of grilled chicken, 4.5 oz of green beans (125gr), and 3.5oz of sweet potato (100gr). This week chicken was $1.99/lb plus sweet potatoes and green beans were only $0.67 per lb. That means this lunch only costs: Chicken: $0.87 Green Beans: $0.25 Sweet Potato: $0.19 Total Cost: $1.31 Keep in mind that if you did calculations of the weights and prices, you'd get an even cheaper number but you have to remember to factor in the weight you lost in the food from the water being cooked off. We factored that in and still arrived at a killer price point. This is one of those episodes that everyone can utilize. Groceries are often one of our largest expenses month to month and just a few small tweaks can make a huge difference. If you got value out of this episode, please share it with a friend! 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! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)