147: Pursuing Financial Independence on Her Own Terms with Cathleen Hutchins

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 19 October 2020

⏱️ 91 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cathleen Hutchins grew up in Hawaii. She come over to the mainland for college, but Hawaii kept calling her name, so she moved back home. Hawaii is an expensive place to live, and Cathleen knew she'd need a plan in order to reach financial independence if she was going to live there for the rest of her life. So she saved. She invested. She made smart decisions about her money and is continuously looking for ways to generate passive income to help fund her retirement. She has also sacrificed some comforts and norms to get to where she is today. She and her husband lived apart for a while, both living where there was a job for each of them, not always in the same state! But her sacrificing and saving has allowed her to move home to Hawaii, buy a house, and continue to pursue financial independence in a high cost of living area. Cathleen is well on her way to Financial Independence and her story is just another example of how following the proven path, you can get money out of the way so you can lead your best life. Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 35 with Craig Curelop BiggerPockets Money Podcast 95 with Craig Curelop BiggerPockets Money Podcast 120 with Michael Kitces BiggerPockets Money Podcast 144 with Kirk Chisholm Mr. Money Mustache Check the full show notes here: https://www.biggerpockets.com/moneyshow147 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 147, where we interview Kathleen Hutchins and hear her journey to financial independence in a high cost of living area.
0:09.6	It almost always comes down to just consistently applying the basics.
0:12.8	So you're not buying impulse items all the time.
0:16.6	You're keeping track of what your spending is like.
0:19.0	It doesn't have to be specific.
0:20.5	It can be kind of general.
0:21.8	So for example, I check my credit card every week.
0:25.4	And I almost all my spending goes on my credit card.
0:27.5	So I know how much I spent last week.
0:29.1	I know if I spent too much and I need a cut back.
0:31.7	Because I'm not going to remember.
0:33.0	Like everyone keeps thinking, oh yeah I'll remember, no you won't.
0:36.0	You have all this other stuff you have to remember you're going to forget that you bought a $200 dinner
0:40.1	last week.
0:41.1	Hello, hello, hello, my name is Mindy Jensen and with me as always is my intelligently
0:45.6	inventive co-host Scott Trench.
0:48.4	Thanks as always for the patent introduction, Mindy. Scott and I are here to make financial independence. community. 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.
1:05.4	That's right, whether you want to retire early and travel the world, go on to big big time investments
1:09.5	and assets like real estate, start your own business, or simply engineer your best life from Hawaii,
1:14.2	we'll help you build a position cost of living area and that's not really a
1:34.4	subject that we've covered in a lot of episodes but a high cost of living area is
1:39.8	definitely going to skew your fine number and she shares today how she has been able to
	...

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