137: Engineering a Path to Financial Independence with Felicity Freedom

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 10 August 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Felicity’s story to financial independence is going to be similar to listeners of The BiggerPockets Money Podcast. She got a good paying job, spent less than she earned, intelligently invested in Index Funds and is now financially independent at the age of 30. Easy, peasy, lemon squeezy. Except, it’s NOT that easy, actually. She lives in America, and for much of that time, she lived in a very high cost of living city, Boston. Felicity rented a 250 sq ft apartment with her husband, Fergus, while he was in graduate school - because he didn’t want to live above his means, and he was making less money than she was at the time. In fact, Fergus is leery of the 4% rule, and would be much more comfortable if they were only pulling 2%-2.5% of their retirement funds every year. Their story illustrates the point Mindy makes so frequently in this podcast, “personal finance is personal.” Their story also illustrates the path one must take to get to financial independence. Spend less than you earn. Intelligently invest. Stay the course through the tough times. This too shall pass. In This Episode We Cover: Felicity's journey with money Talking about her unconscious spending and fixed expenses What she did with her money prior to discovering financial independence The moment she started his financial independence journey How she got obsessed with personal finance Conversation about money with her husband Her approach on her money Talking about happiness Where she planted her money And SO much more! Links from the Show BiggerPockets Money Facebook Group The Power of Financial Freedom - Fetching Financial Freedom 5 Ways Losing 50 Pounds and Saving $1M Was Exactly the Same Donating a Year’s Salary to Our Donor-Advised Fund Mint Mr. Money Mustache BiggerPockets Money Podcast 120 with Michael Kitces Millennial Revolution Mindy's email Scott's email Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the BiggerPockets Money Podcast, show number 137, where we interview Felicity Freedom
0:05.8	from fetching financial freedom and hear how she engineered her path to financial freedom.
0:11.5	If I'm having a conversation with a friend of mine and we're sort of touching on finance, the first thing I do is,
0:18.3	well, you know, if you're interested, might make sense to kind of like track your spending and see how much you would need if you wanted to do
0:25.6	something similar and just in general it's like you never know.
0:28.6	Hello hello hello my name is Mindy Jensen and with me as always is my financial engineer co-host Scott Trench.
0:35.0	I don't know how you assemble these new puns and new adjectives to describe me every week.
0:40.0	Thank you so much.
0:42.0	Scott and I are here to make financial independence less scary.
0:46.0	Less just for somebody else and show you that by following the proven path,
0:50.0	you can put yourself on the road to early financial freedom and get money out of the way so you can lead your best life.
0:56.4	That's right, whether you want to retire early and travel the world, go on to make big time investments
1:00.2	and assets like real estate, start your own business business or simply engineer your way to financial freedom today. I'm a big fan of her
1:19.9	blog. I follow her on Twitter and every time she says something I'm like that's me that's me that's me we just
1:27.3	seem to have such similarities even though we're actually quite different
1:32.0	yeah I thought it was a fantastic episode today and I think, you know, she hit the easy button and did all the right things to move right towards by and has a lot of really good life options right now.
1:42.8	And so I'm just excited for you guys listeners to get a chance to hear her story.
1:47.5	And even though she hit the easy button, she did have a little bit of, I don't know that
1:52.2	turmoil is the right word, but definitely a little bit of stress in her life when she chose a job that didn't make her heart sing.
1:58.3	And I like how we talk about finding a balance between work and actual life enjoyment.
2:07.6	That's one of the themes of this show that I really wanted to touch on as we were recording.
2:15.0	She says most of my regrets in financial life are about focusing too much on returns and
	...

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