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BiggerPockets Money Podcast

11: Financial Freedom in Less Than Five Years with Joel from FI 180

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.53K Ratings

🗓️ 12 March 2018

⏱️ 80 minutes

🧾️ Download transcript

Summary

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year. A freak car accident literally changed the direction of their lives by causing them to re-evaluate and decide on what was truly... Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the Bigger Pocket's Money Show Number 11.

0:04.0

We were kind of in this place where we thought we were saving

0:07.0

because we were doing the 401k match

0:10.0

that our company was doing, which was, I think it was like 5% or somewhere around there, 5 or 6%.

0:15.0

And so we said, oh, we're doing that, so we're being responsible.

0:19.1

So let's just have fun with the rest of our money.

0:21.6

And we didn't realize that what it was

0:23.4

turning into was that we were creating a lifestyle that was really not very

0:27.9

sustainable and it was also something where a lot of our friends were

0:32.1

latching on to us because of that lifestyle.

0:34.6

It's time for a new American dream, one that doesn't involve working in a cubicle for 40 years,

0:40.0

barely scraping by. Whether you're looking to get your financial house in order,

0:43.3

invest the money you already have, or discover new paths for wealth creation, you're in

0:48.3

the right place. This show is for anyone who has money or wants more. This is the Bigger Pocket Money Podcast.

0:55.0

How's it going everybody? I'm Scott Trench here with my co-host, Miss Mindy Jensen.

0:59.0

How you doing today, Mindy?

1:00.0

Scott, I am having an awesome day. How are you doing today? I am doing fantastic. We just heard from one of the people I've been most excited to have on this podcast in Joel from Financial 180 and I think you and I both met Joel maybe mid-January of 2018 at a very

1:16.2

nerdy very awesome personal finance camp down in Florida but I was so impressed

1:21.8

with Joel because Joel is one of those people who came from a background of dual high income, high spending, and was unable to accumulate wealth.

1:29.0

And I think there's a lot of listeners out there that may come from a similar position where they've got that

1:34.7

you know income of 70 or 80,000 dollars a year or more and then maybe the two of

1:39.2

them and sense of two spouses are working but yet still can't seem to get ahead.

...

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