038 - The Why of FI

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0 - 55 Jonathan Mendonsa Okay guys today we have an episode plan that we've been wanting to do for a while. And one of the reasons I don't think we've done it up to this point is that it involves some strategy and we were trying to figure out exactly what we wanted to accomplish. So let me lay the groundwork for you here. This episode we want to call the why of fi. We're essentially trying to make what people call in the business world an elevator speech for FI a way that you can succinctly communicate to someone else why you have chosen this path and I think this is a very valuable conversation to have. I know that personally I have found it a challenge myself to explain to someone what the heck I'm trying to do with my overarching life goals here so this what we're going to try and do today is take a little bit from all the different episodes that we've recorded up to this point and then turn it into a logical decision tree that we can use to present this concept to the outside watching world as a gateway to introduce them to the world of financial independence. And I have Brad here with me in the studio. How you doing buddy.
55 - 105 Brad Barrett I am doing quite well. Jonathan Yeah I think this is a really important episode and I think you know when people get acquainted with choose F-I they ask Where should I start. And now naturally you could start at episode 1 or we have recently started sending people to the pillars of FI episode which is 21 and I think this should be right up there with the pillars of FI. So yeah I mean this is an important really framework for the entire why of fi. As you said you know why. Why would we choose this decision to the outside world looks a little strange. And I use that word very tongue in cheek because to us it's not strange at all. It's the right decision for our lives. And like we constantly say here this is a superpower and we would like to be able to explain why we feel that way.
105 - 248 Jonathan Mendonsa So I think the place we like to start on the choose F-I podcast we have affectionately or maybe not so affectionately referred to normal life as the hamster wheel so let me just take a second and describe what that looks like. If you do everything that society tells you to do perfectly if you follow the rule book as advertised by our consumer driven marketing culture then you know it's your responsibility to go to a four year school maybe go to grad school get a $50000 a year salary or more maybe a six figure salary and whatever it takes to get that salary you need to do that so if it involves going six figures into student loan debt you need to do that when you get out it's your responsibility to buy the biggest house you can afford because you need to support our economy and that is a surrogate marker that we use to identify someone that is considered successful in our culture. It's your responsibility to get at least one new car preferrably two and you should also consider upgrading those cars. Every several years to reflect your ever increasing rise through the ranks at work and to reflect the promotions and the rises that you've gotten. This is your way of showing to the world that you have made it. Don't worry about what the car's actually going to cost you in the long term. Just make sure you can afford the payments reasonably. Along with this and going back to the house it's important that you purchase the biggest home that you can afford that way you can grow into it. And along the way you need to make sure that you fill up all those rooms as quickly as possible so don't worry, your furniture stores will be more than willing to finance things for you. At a zero percent interest rate for the first 18 months with a balloon payment at the end so that you can get everything you need to fill up your house exactly the way it's supposed to look so you can turn those pictures into Pinterest boards and you can impress your friends your neighbors your network with how perfect your house is and how closely it matches your neighbor's house maybe your house even looks better than your neighbor's house. And once you get comfortable with the car payment and you get comfortable with the house payment you realize you still have margin you guys are really doing good. Your bosses have really appreciated the enthusiasm the energy that you've brought to the table and you got yet another raise this year. You've never made this much money before. The next thing is the boat. Go get the boat. Don't just get the boat get the wakeboard get the toys to go out in the water. You know these are the things that you need and the payments are affordable. Everything is so easy. You can have all of it. That's the ultimate goal to have a Facebook worthy life that everybody can get excited about when they see your house. They recognize that you have made it.
248 - 281 Brad Barrett And yeah I mean that is the quote unquote American dream that we see everywhere. Right. You see it on HGTV. They push upgrading your house buying granite countertops moving into a new house and even if the kitchen is fine. Spend $60000 to make it the best in the neighborhood right. Like you hear all these things and you get accustomed to the fact that you quote unquote need these items you need them to keep up with the Joneses or you need them to be happy which is a really loaded thing and we're going to talk about that for sure in this episode.
281 - 334 Jonathan Mendonsa But there's a dark tradeoff that isn't captured in that rosy picture. And the problem is. Sure. You've been trading payments for all the stuff but the trade you've really been willing to make that you didn't realize you were making was you have decided that you're willing to spend the next 20, 30 years of your life not pursuing your freedom. But pursuing stuff because because of those decisions you have tied yourself down for 20 or 30 years and now you're potentially on a 40 year working career so that you can afford it so that by the time that you have achieved what you really wanted to do which is to actually enjoy those toys maybe that maybe that was it. You're now 65 and now this is finally this is what our culture says well now you're 65 now you're allowed to go enjoy all the stuff that you spent the first 40 years paying for this. What we're trying to accomplish today is highlight how broken that is and help you take a step back from it and say What if I looked at the problem slightly differently.
334 - 396 Brad Barrett And I mean that's the sad reality here is that OK these things might look wonderful. I'm not denying that. I don't doubt that having a Mercedes in your driveway and having a beautiful HDTV worthy house is nice right or that it looks beautiful but to me it's the wrong priority in life. And just the sheer fact that you are working sometimes 60, 70 hours a week maybe if you're married both of you are working 60 to 70 hours a week to pay for this lifestyle that you're not living in because you're working all the time. It's this horrible as Jonathan says hamster wheel that these things are sitting idle. Your house is sitting idle more than half the time your car is sitting idle. Ninety nine percent of the time because you're working all the time to pay for them. It's this just terrible terrible negative feedback loop here. Like there's no way out. But that's what everybody else thinks. We have found what we believe to be this life superpower in FI and we believe it is a way out.
396 - 450 Jonathan Mendonsa And when Brad talks about FI being a superpower it's a reorientation. So what FI does is we look at the problem and the problem is how can we extract the most happiness out of this life. And in order to do that first you have to be intentional with what actually makes you happy and ask yourself is being at work with a sixty or seventy thousand dollar boat sitting in your boat deck or your driveway for ninety nine percent of the year. Are you happy with that tradeoff now in life. Life is a bunch of choices. You have a you have a limited number of choices and at the end of this limit a number of choices your time is up. So what FI focuses on is we realize that money is not the ultimate objective it's not ultimately what you're running out of it's time. Time is the most precious resource that you have and everybody allocates it toward something. And we want to tie our money and our time and invest in things that can bring us back most happiness.
450 - 650 Brad Barrett And not only is this about happiness and reclaiming your time but it's about freedom it's about freedom to have potentially decades back in your lives that otherwise would have been spent at a job that you may or may not like. This is not the anti-jobs show. This is not the anti-jobs community by any means. There are millions of people out there who get great satisfaction from their jobs and that's wonderful. But what we believe in is having the freedom to choose what you do with your time and the freedom to either make money or not as you see fit right like what you love to do might make money. And that's wonderful what you love to do might make $0 going forward and that's fine too if you're already at FI. If you've been pursuing this path. So to me it's really gaining your freedom and then you have the wonderful opportunity to focus on the things that matter in life which to me are relationships and a true focus on what makes you happy what makes you get out of bed in the morning. Even just the little things like yesterday I was singing songs with my daughters and like something minor like that. I was reflecting on my day. And so like what was the best thing I did today. And it was the 10 minutes that we sat around Amazon Prime listening to pop songs and singing together that was just such a cool thing. And I was able to do that in the middle of the day because I have reached FI and I am at home with my Donner's during the summer and it's just little things like that that like that just simply wouldn't have happened if I was at my job till 5 o'clock and then had to commute home and I would have been exhausted and rushing around and would have had to have eaten dinner and etc etc and that you just don't have time for that. It's focusing on what makes you happy and what you enjoy out of life. So I think my essence of the why of FI is precisely that it's not about what you hate in life it's not about running away from something it's running toward something it's being intentional about life not just grazing through it. And when you apply some intentionality to everything, to your spending decisions to your earning decisions to how you allocate as Jonathan said your most precious resource which is your time when you actually focus on these things and apply some intentionality then you can determine OK what do I get out of this life. What do I enjoy out of this life. And that's the focus that is essential and it is so sorely missing from everybody else's life I mean most people just are barely making it through the day. Complaining about how rushed they are how stressed they are and that's legitimate because of the life that they've created for themselves. Keeping up with the Joneses mentality of buying expensive cars going on expensive vacations and buying a McMansion and just all these things I like don't really add to baseline happiness and unfortunately once once you're into that it is very difficult to unravel if especially if you haven't seen the light. If that's just what every single one of your neighbors and friends and family members do and fortunately for the members of the FI community at large we have found a different path. And and you know that is what we're trying to highlight here.
families, relationships
650 - 774 Jonathan Mendonsa And we've kind of landed on the term of drifting which is one that we got from Dominant Quartuccio in this episode now 33. Design your future and he co-opted that from Napoleon Hill's book outwitting the devil. But it describes this idea of just passing through life essentially when you look back you just wonder where it went. And so there's some questions that I wanted to put out there to help you think about whether or not you're happy or excited about the life you're currently living and maybe this will prompt you to think about whether or not you'd be open to pursuing a slightly more optimized path. So these are just when I was thinking about what grazing looks like these are some questions that came to mind. One for those of you that are on a similar 9-5 like like I am. Do you work every other weekend and are you ok working every other weekend or maybe every weekend for the rest of time. Do you crave those two days that you have off just to recapture some of your sanity and when you have those two days off. Do you sometimes just feel like all you have time to do is laundry and general home maintenance. Are you essentially just folding clothes mowing your lawn and putting up laundry. Does it stress you out when friends or family ask you to do something with them because you realize that you only get about a week off each year that you can allocate to anything you want. And there were so much you wanted to accomplish but you have no time for it. And you have this constant feeling of guilt that you have to come up with a creative or clever way of saying no. Even though the most obvious thing is you just can't take time off work. Do you sometimes feel like you never see your kids and they just start growing up and you're wondering what happened because they're five inches taller than the last time you remember seeing them. Does everyday feel like deja vu because you've just been doing the same thing over and over and over again and it's a lackluster experience that brings no joy into your life. Do you have this feeling this chronic feeling of fear that you're falling farther and farther behind you're ever building load of to do list and metrics and you can never catch up. And when you finally get your inbox to zero the next day it's back up to 600 e-mails Brad. That depresses me just to think about and I identify with that very closely that feels like that's an impending reality for me and I know it is for many other people.
774 - 820 Brad Barrett Yeah there's no question about it. I mean it typifies tens upon tens of millions of people's lives in America and yeah that's just the sad reality. I mean we go through life as you say drifting. And it's hard to imagine a way out because you have suchlimited time. You are working constantly. You are as you said on the weekends you're rushing around trying to do laundry and mow the lawn and do this and do that. And I mean what do you have you have maybe an hour at night to sit in front of Netflix and just kind of vege out. Right. I mean sadly what most people's free time looks like and it is hard to get out of that because you don't have the time energy or even resources to figure a way out. And I think that really is a sad reality for so many people.
820 - 886 Jonathan Mendonsa Alright guys Now this is not a show where we come to depress you. I would not tell you all this if we did not have a solution. So that's a reality I don't think it is unreasonable to say that many people feel that way that's that's not a stretch. But when you think about it the other half of that picture is in many cases the people that are feeling that way have the $60000 car they have the 3500 square foot or 4000 square foot home they have the boat in the garage. They have the time share. They go to the nice restaurants twice a week. And in many cases their first thought is well I need those things to make up for how miserable I am when I'm not actually able to use those. But you can pause on that and you could say what if instead of purchasing stuff to make up for your general unhappiness you could just focus on how to purchase your happiness, like go straight to the source. And what if there was a way that you could get the best of both worlds in the fi community. We started with that question and then we have built a system a replicable system to allow us and to allow the people that grab onto this concept to get the best of both worlds to pursue happiness. That's our that's our focus.
886 - 953 Brad Barrett Yeah. And while that entire set up sounded sounded really negative. We believe in the exact opposite. We believe that choose FI and the FI community in general is the epitome of an optimistic message and that's what we're going to try to explain to you step by step here today just from a real high level. And we certainly have talked about real specific details over our 60 plus episodes to date but we again want to make this kind of like the elevator pitch the the why of. FI So Jonathan I are going to go step by step through that decision how we personally made the decision to pursue FI and how you could too. No matter where you are. I don't want anyone to get the impression that FI is only for a select audience or for people who have made all the right decisions or make a lot of money. This is for everyone. It doesn't matter who you are where you live how much money you make how many quote unquote bad decisions you may or may not have made in the past. This is about moving forward and just making progress one step at a time. So I think it is the again the epitome of a positive message.
953 - 1142 Jonathan Mendonsa OK so now we're at the point we're ready to show you the game plan here. And it goes back to this idea that you have a limited number of choices but fortunately you're hearing this now. You didn't hear this 10 years from now or 20 years from now. So this is this golden opportunity for you to make a change right now that can result in you absolutely crushing this game. Your 10 year future self is so grateful to you that you heard this message and you got excited about it and you took the next step take that as an accomplishment no matter where you are just the fact that you were willing to take 20 30 minutes and listen to this and then take that next step and take action. And my friends it's all about this next step which is taking action. So the conclusion that we came to in the FI community is that instead of purchasing stuff which we are very skeptical of stuff's ability to make us happy especially if it's in a vacuum where we have no relationships where we have no time to spend using that actual stuff or we have no time to invest in our friends and families. We were skeptical of stuff in general. So instead of putting all of our money into that we have put our money into purchasing what we call the magic money making machine. And this is not some sort of pyramid scheme. This is just you moving from being a consumer of the economy which is what most of the world is to an owner of the economy and we focus on what we call the simple path to wealth which is where you massively increase your savings rate far beyond the 4 percent that you are getting to get your match with your employer you push that savings rate up to 20 30 40 50 you know people that are saving 85 percent of their paychecks and you put as much as you can into your investment vehicles and we have actual episodes that we talk about how to go about that were going to save a little bit more of exactly what episodes to start with for another episode. But for right now we focus on getting as much money as possible into investment vehicles so our money can start to earn money for us. And once you do that for a long enough period of time and really it doesnt have to be very long 10 15 years if you can get your savings rate high enough is plenty. At that point you have enough money set aside that it starts earning money for you. its this amazing circle where instead of you only earning money while you're at your 9 to 5 it's actually earning money 24/7 you know around the clock and it's working way more efficiently and it's working with way more intensity than you ever did. So the point is you need to get here as quickly as possible and you can never do that when you're living paycheck to paycheck it doesn't work that way. You're not going to go to 7-Eleven and pull out your lotto ticket and get your million dollars. I'm sorry my friends it's not going to be you. Going to be somebody else. So you need to come up with another tool. There are very few magic bullets when it comes to building wealth. But there are ways that you can get rich slowly. Every single time. And what we have done is find out all the different ways that you can do that and instead of maybe just picking one or two haphazardly. We focus on building systems to allow anybody to achieve this goal. So it starts with the recognizing that you don't know what you don't know and being willing to put the time in to learn that stuff and immerse yourself in it. And our goal is just to lower that barrier to entry and give it to you in bite sized pieces that you can digest and then look for the next thing and we just want to hopefully help point you to that next thing.
families, relationships, savings
1142 - 1386 Brad Barrett And when you hear about this you hear Jonathan said potentially 10 to 15 years that you could basically save up enough money to retire or to have financial independence. That's how we really like to look at it. And I mean that might sound absolutely crazy to you if you're just listening to this for the first time but it really it's just about the math it's about your savings rate. So there is a wonderful article that we'll link to in the show notes to this episode which is called the shockingly simple math behind early retirement. That's at the Web site Mr. Money Mustache and that is one of the kind of pillar articles of this entire FI community. And I know it's one that opened my eyes to really how simple this is and how it truly is just about math. And the thing is when people hear about concepts that they've never come across before instantly they're uncertain they think is this a scam is this for real. I mean why have I never heard of this. And you know I think one in a thing to remember is many times when you hear something kind of crazy, people are selling something and they're trying to make some money some way from you or there are some investment vehicle that's loaded with fees or something something something crazy that's going to get the salesman rich and really impoverish you and Fi is the exact opposite of that. I mean we have nothing to sell. We have no vested interest in you doing or not doing this. This is just something that we have found and both Jonathan and I have really taken a hold of and I personally have reached FI so I can tell you definitively and I could get my kids on the podcast and talk about how much time they spend with me and that just wouldn't have been possible had I not found FI. Truly this is not about deprivation. So you know you hear a lot about frugality and you know you read some of the things that people do and it sounds kind of nuts. And that is not what we're about here at all. It's to me this is just about making smart choices just optimizing your life a little bit. And I know myself personally like I save let's say between fifteen hundred and $2000 per month over what really everybody else in my general vicinity. And that's obviously painting a broad brush. But what many people in our general vicinity pay on just a few things it's the big line items. It's the house we intentionally chose a dramatically smaller house than we quote unquote could have afforded. My wife and I both drive 2003 cars that have well over 100 thousand miles on them. We have a cell phone that costs $15 a month and that's it. We're not spending $100 per person per month. We cut the cord here. So we're not spending 150 to 200 dollars per month on our cable and internet. And I mean just those four things. And one of the big items also is food. My wife is a wonderful cook and my wife has figured out a way that she can save time while still cooking delicious healthy really gourmet meals and save a boatload of money. And we approximately spend $2 per person per meal on our food and our food bill is hundreds upon hundreds of dollars less per month than many of our friends. So I mean just what those couple of items that is really almost $2000 a month, that's twenty four thousand dollars a year just by making a couple smart choices. We still live this wonderful life of abundance. But what we do with that money instead of just blowing it frivolously. We're saving that for the ultimate luxury which is as Jonathan said buying that perpetual money making machine. So we had been diligently saving for really our entire lives since we're in our late thirties now. And we had started when we got out of college and we certainly have gotten better at our savings since then but it was all in the goal of getting to this financial independence number where we could then choose what we do with our lives because we had this pot of money that will spit off what essentially is income every single year for the rest of our lives. And that is the ultimate luxury in life.
college, cooking, frugality, mealplan, savings
1387 - 1576 Jonathan Mendonsa And I'll just say for me I've always considered myself a reluctant frugalist . In fact we got mentioned on Forbes several weeks ago and they said that I have a love hate relationship with frugal living. It's a hundred percent true savings for savings sake doesn't cut it for me. It never has it wasn't enough. I'm the spender. And many times out there you hear people say go ahead spend that money now because tomorrow you could die. But I want to flip that on its head. And the reason that fi appeals to me so much is because you were born to do more than pay bills and die. And that first line it sounds so good. It's a great bumper sticker but it has you tied to the hamster wheel because when you're spending everything now you can never purchase that magic money making machine that we prefaced earlier with that re-orientation the most important thing you can do is find a way to break the hamster wheel and reclaim your time. And now that time is a tool that you can put in your back pocket you get to explore what actually makes you happy with that time because the best years of your life are no longer tied to your nine to five. So first of all when you finish this episode if you're just so excited about this idea and you want to go right into it go check out the article that Brad mentioned the shockingly simple math of early retirement which will be in our show to also go listen to our other episode the pillars of FI which is Episode 21 that will lay out for you the 10 easiest levers that we have found to accomplish that goal of racing to your FI number and achieving this goal. And so the pillars of FI would just be a great way to learn about some of these concepts and we have tried to do our best to guide you through this process but really you know if this is something that you think can transform your life. We have tried to make these episodes build on top of each other so if you have the time to invest I would just highly encourage you just really go back to the beginning. Listen to every episode and if any episode appeals to you and you want more about that episode go ahead and listen to the Round-Up which comes out Friday and you'll get to hear our particular takeaways on that episode and also that brings in the community's feedback and you'll get to hear other people's questions about that episode how they responded to it. So we have tried to build this platform that will take you to a Ph.D. level of FI in a relatively short period of time but it doesn't start there it starts with the building blocks that you need to accomplish this goal. But once you are at FI for me going back to that idea of I can't do savings for savings sake I need to know what's on the other side and we talked about recapturing your time but it's more than that when you really dive into it. Retirement a lot of times we focus on retirement. Retirement is optional but fi gives you the power to choose whether or not you want to continue to work and you can make that decision no longer based on how you're going to afford your boat payment or your second car payment. But whether or not you're enjoying your work and I think ultimately that not only gives you more power at your job because you're operating from a place of strength but it has the possibility of actually allowing you to enjoy your job more or it may make you hate your job but it will actually peel back all the other chords that work has attached to you and you get to decide am I doing this because I love doing this. Or was I just doing this to put food on the table. And then you can make a choice that really is in your best interest. And if you decide that is continuing to work how much happier is that that you know that you're there because you love what you're doing.
Jonathan_Catchphrases, frugalist, myfinumber, relationships, savings
1576 - 1666 Brad Barrett Yeah. I mean clearly this is in my opinion it's not about hating your job that has nothing to do with it. Sure. Many people hate their job many people love their job. That's fine. It's what's going to happen to most people who are living paycheck to paycheck is they're going to wake up 40 years from now and they're going to have really nothing saved. They're going to have no security. They're going to have no power in their life and they're going to feel stressed and worried you hear that all the time. The 67 year old who has $4000 saved up and doesn't know what they're going to do with their lives or how they're going to ever retire. Well I mean to me that is absolutely crazy. And it's just a sad reality of so many people's lives because they didn't take the control. So it's just really simple. You can live paycheck to paycheck and never have control of your life or you can just start saving money. Now that doesn't mean you're going to start tomorrow and save 70 percent of your income because that might sound absolutely ludicrous. But you can start increasing your savings rate tomorrow. You can make these simple optimize choices that with that goal in mind of your freedom and again pursuing that perpetual money making machine right like if you reframe the choice from oh this is I'm depriving myself by being frugal or Oh I can never live like that too. I'm saving up to buy my freedom for decades. What could be better than that. So I mean it's always about that reframing and that is essential for you to remember.
1666 - 1727 Jonathan Mendonsa And what do you do with your life when you realize that money is no longer the driving force because you have enough of it for eternity. It changes the equation. Do you volunteer with your time because that's what makes you really happy. Do you do a side hustle that in the past you're worried wouldn't make enough to support your family but now you can do it without the restraints and you're operating from a place of strength? whatever that is. There are many side hustles that that I can get excited about. And there are many of them that you do not to make money even though money may be a metric that tells you that you're making progress but how cool is it if you can do it without the financial pressures of how you're going to keep the lights on and feed your family. It allows you to then say Is there a way to maybe make your job more enjoyable. Maybe you can go to your boss and Brad this is something you've mentioned and say you know what I like 70 percent of what I do but I despise the other 30 percent. I want to focus on the 70 percent that makes me happy. Maybe you can carve out and focus on the things that really make you happy and you can now do that from a place of strength because you don't need the job anymore. It's a bonus. It's extra. It's not how you're feeding your family.
families, hustle
1727 - 1826 Brad Barrett It's amazing how when the power dynamic switches in your life from absolutely needing that job every second and being petrified that if you got fired or there were corporate layoffs or something that you would lose everything. Right like so many people are living on that knife's edge where they have maybe a two to three month runway if they're lucky that if they did lose their job that their entire life would collapse in just a few short months. How stressful must that life be. And that is the ultimate nightmare scenario. It's about that power dynamic that like Jonathan described. It's amazing when you go into the head of your department and you're already at Fi or you have let's say 10 years of expenses saved up and nothing he or she could do to you would gravely imperil your life. How much power you have in that situation to say OK I add value to this company. I like doing these things but I don't like working 60 hours a week. I don't like going to these mindless meetings. I don't like filing TPS reports or some some nonsense right. That unfortunately is the reality of Many people's jobs well this is what I want to do at my job. And I add value and really. OK if this is not going to work I'm going to put in my two weeks and you'll be amazed at what kind of bending over backwards you'll see in many instances. Obviously I can't promise that in every instance but at that point you have you have that money. We call it affectionally here F-you money. And that's really a good way to look at it is you have the power. That's what F-U money really means.
1826 - 1878 Jonathan Mendonsa Yeah. Brad took the baseball bat to that fax machine a long time ago and I stole the stapler. Now some of you get that some of you didn't. If you didn't go look it up. We try to keep it light. OK. Lastly final point here. Well maybe not the final point. Who knows. Brad and I can talk about this and have talked about this for hundreds of hours but you can become location independent you can live somewhere that maybe in the past you were worried wouldn't allow you to earn a living because you no longer need income. You no longer need a W-2 paycheck. You have that thing figured out now I will I would counter that by saying that once you no longer need the W-2 paycheck you will find that without that restraint on your back that chain you are going to find many different ways of actually earning the income. But it's cool that you no longer need to make choices about where you live based on whether or not you're going to be able to find a job.
1878 - 1954 Brad Barrett Yes. I think what Jonathan is painting the picture there is is flexibility right. And that is a cool aspect of life that so many of us do not have. Right. We have no flexibility. We need to get up go to our work pay our bills and just rinse and repeat for decades. Right. So you lose any bit of flexibility and unfortunately you lose the wonder of life to try new things because you have no time and you have no resources. So again if you can just do these optimized things and just leave a little bit smarter live a little bit differently and focus on that savings rate. It's this force multiplier because everything gets better. You can take the time to focus on what makes you happy. And I want to really reiterate this that is the essence in my opinion of FI is that you have the time and resources to focus on what you actually want out of life. So that's the reason this is not about depriving yourself. It's you know some people hear that originally like oh they're saving 50 percent of their money. They must be depriving themselves and it couldn't be further from the truth. In my opinion it's about gaining what matters in life. And if that's not the why of FI I don't know what is.
Brad_Catchphrases, savings
1954 - 2045 Jonathan Mendonsa So it just is kind of an end cap on this. There are an infinite number of ways to tackle this journey to FI and we're not dictating to you exactly what choice you need to make. If your income is high enough you probably could just focus on intentional living and tax optimization. You can focus if you have a low income you could focus on a side hustle you can focus on extreme frugality or just frugality in general. You can focus on real estate. There are a million different ways to tackle this journey. We're not telling you which one you need to pick but what we are doing is exploring each of these exploring the peremiters of the choices that other people have made and using them to paint a picture that you can then select the levers that you want to pull to ultimately reach this goal. That's what this whole story has been about. And if this excited you if this piqued your interest go ahead take that next step and go check out the pillars of FI and then if that excited you maybe just start at the beginning and just work your way through. I think that that is going to be an extraordinarily valuable use of your time if you get so excited about that. If you have questions that you want to pour into this and get feedback on your specific situation join our Facebook group. We have over 2600 members there and it's doubling every month or two. And this is a place where you can get feedback on your specific situation. The conversation continues week round with hundreds of active threads. So I think that will be a valuable resource for you. This podcast has been downloaded over a million times just within the last six months. The fire is spreading my friends we're glad to hear and we hope you'll join us next time. As we continue to go down the road less traveled.
Jonathan_Catchphrases, frugality, hustle, tax

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