126- How She's Building a $500,000 Portfolio & Retiring Early at 30 Years Old (w/ a Purple Life)
Journey To Launch
Jamila Souffrant
4.9 • 1.7K Ratings
🗓️ 13 November 2019
⏱️ 54 minutes
🧾️ Download transcript
Summary
This week's Journey to Launch podcast episode is one you don't want to miss! I'm talking with Purple from A Purple Life about how she plans to retire at 30 and live off only $18,000 a year. In 2015, Purple started her blog to track her journey to financial freedom and early retirement. Thanks to her efforts to decrease spending, increase her wages, and geo-arbitrage, she is on her way to retiring in 2020. In less than four years she went from a net worth of $5,000 to over $350,000. Check out the episode to hear how she is living on her budget without sacrificing the fun things she loves.
In this episode you will learn:
- How to budget your money and apps that can help
- The importance of saving for retirement and securing your employer's match
- Ways to save your first $100K
- What is geo-arbitrage and how it can jumpstart your path to FIRE
- How to demand a higher salary, and so much more
Other related blog posts/links mentioned in this episode:
Purple admits saving her first $100,000 was a big milestone. But once accomplished, doubling and tripling her money happened in much less time. Here is one way to save your first $100K too. Here are more ways to save 100K.
Be like Purple and get paid for taking pics of "Help Wanted" signs with the Job Spotter app by Indeed.
Check out the Journey To Launch Podcast index here which categorizes all of the Journey To Launch podcast episodes by subject. Now you can binge on your favorite topics or type of episode.
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Transcript
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| 0:00.0 | You're listening to the Journey to Launch Podcast how a purple life plans to retire at 30 years old and only spend 18,000 dollars a year. She helps brave journeyers like you get out of debt, save, invest, and build real wealth. |
| 0:28.0 | Join her on the journey to launch a financial freedom in... |
| 0:32.0 | Five, four, three, three, three, to financial freedom in five four three two one |
| 0:39.2 | hey hey juniors. Super excited to have you listening in this episode of the Journey to |
| 0:47.8 | launch podcast, as always excited to bring on this week's guest, A Purple Life. |
| 0:54.0 | You'll hear so much more about her as we go through the interview, |
| 0:57.2 | you hear her talk. |
| 0:58.5 | One thing I'll note is that A Purple Life is anonymous. |
| 1:01.9 | And it's interesting because A Purple Life on her blog, |
| 1:04.7 | she is so transparent about her numbers. |
| 1:07.8 | Like, she literally goes through every single dollar |
| 1:11.2 | that she spends, how much she earns, and I'm always just |
| 1:14.8 | appreciative of people who can do that and that's a part of being anonymous. I feel |
| 1:19.6 | like part of it is when you can be anonymous you can really actually lay so much more out on the table. |
| 1:24.7 | So I applaud Purple Life for coming on the show and being able to like show this other side, right, |
| 1:30.4 | of financial independence. |
| 1:32.0 | So typically we're talking about how you can reach |
| 1:34.4 | your financial freedom and independence goals. Now purple life has an amazing story |
| 1:37.7 | because she's doing this by 30 years old she plans to do this. You'll hear more |
| 1:41.7 | about it but essentially like at 30 years old, |
| 1:45.2 | she wants to retire early. What does that take? And you'll hear that over time she has focused |
| 1:49.8 | on increasing her income. She also doesn't spend a lot. So in comparison for me where I'm like I don't |
... |
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