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The Side Hustle Show

253: Your Escape Plan: How to Make Early “Retirement” a Reality

The Side Hustle Show

Nick Loper

Entrepreneurship, How To, Education, Business

4.71.6K Ratings

🗓️ 19 October 2017

⏱️ 44 minutes

🧾️ Download transcript

Summary

Quit my job? “That’s stupid,” Kim Anderson said. But she eventually did, and it turned out to be a really smart move. Together with her husband Cressel, they paid off $93k in debt in less than 2 years, setting themselves up for a life of “financial flexibility.” They did it through a combination of conscious spending, creative side hustles, and having a clear goal in mind. And perhaps what’s more exciting is what that new time freedom has allowed: starting a family, starting new businesses, and most recently even “retiring” Cressel from his engineering job. In this inspiring episode, Kim and Cressel break down their path to financial freedom, which I think will get your gears turning on how to do the same. Full Show Notes: Your Escape Plan: How to Make Early “Retirement” a Reality

Transcript

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0:00.0

Side Hustle Show 253, your escape plan, how to make early retirement a reality.

0:07.0

What's up, Nick Loper here, welcome to the Side Hustle Show because financial freedom might be closer than you think.

0:13.7

I'm excited to welcome a husband and wife duo to the show this week who figured away out of the system.

0:18.9

This is my friend Kim Anderson from thrifty Little Mom.com,

0:23.2

describing their situation a few years ago,

0:25.8

and maybe this will sound familiar.

0:27.8

We moved out of the city, you know,

0:29.8

started trying to find a house in the suburbs

0:32.3

and kind of do the normal thing and my commute was still in the city and it's Atlanta.

0:38.0

So it was like a two hour in, two hour out commute situation, just sitting in the car with like nothing to show for it. It

0:45.3

really started weighing on us really heavily because the house was a wreck and like I

0:48.8

couldn't keep up with anything and I was so tired when I got home like you just didn't feel like I was really living and I

0:55.7

distinctly remember him looking at me one day and kind of in just saying you know I think you should

1:01.2

just quit your job and be a stay-at-home wife and I was like why would I do that I have a

1:04.4

four-year college degree like I'm gonna take the nonprofit world by storm like there's no

1:08.6

reason for me to quit my job like that's stupid. This is the paradox, right?

1:14.0

It didn't feel like she was really living, but at the same time quitting would be stupid.

1:18.0

Have ever been in that position?

1:19.0

I'm pretty sure we all have, and it's not a comfortable place. For Kim, stupid eventually won out. She quit her job and you know what, the world didn't come crashing down. Together, she and her husband Kressol, who you're going to meet in a moment, paid off $93,000 in debt in less than two years.

1:35.0

They did it with a combination of conscious spending, side hustles, and a clear goal of what they

1:40.8

wanted to accomplish. That debt-free life, that financially free life, was hugely

1:46.1

motivating and it turned out to be more realistic and faster to obtain than either of them, thought

...

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