277: Fighting the “Hustle Culture” That Ruins The Joy of Financial Independence w/ Pete McPherson

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 21 February 2022

⏱️ 88 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Hustle culture” has been a term for the past decade or so. It somehow became a badge of honor to prove that you’re working the hardest, longest, and most stressful job around. You can handle it, you’re making money, putting in the hours, but what do you have left at the end of the day? This constant grind is what Mindy likes to call the “death race to FI” due to its unnecessary harshness on your free time, relationships, and mental health. Pete McPherson foresaw this “hustle culture” taking over his life when he quit his sixty-hour week accounting job and decided to start his own business. This wasn’t the first, or second, or fiftieth time Pete had started a business, and he was driven to never set foot in an office again. He wasn’t making phenomenal money the first year, but he made enough to provide for his family, and that was enough for him. Mindy and guest host Sarah Putt from OT 4 Lyfe talk with Pete about the rarely discussed downsides of chasing early retirement and financial independence. Make no mistake, even if you decided to work twenty hours a week, like Pete, you can still make plenty of money all while being able to watch your favorite movies in the middle of the day or spend time with your kids! In This Episode We Cover The detriment of “hustle culture” and why working hard doesn’t mean burning yourself out The importance of having an available safety reserve in case you get let go from a job Jumping into entrepreneurship and developing the grind to make it work Learning from your mistakes and seeing every failure as a lesson Picking your “good enough” number and living life on your terms Why time freedom is the ultimate goal of FI, not exorbitant wealth And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the bigger pockets money podcast show number 277 where we interview Pete Vick
0:05.2	first and from do you even blog and talk about leaving your job and jumping into entrepreneurship
0:10.1	with both feet. I talked to my wife and I tell her I just need to change. Like I really want
0:17.2	to try entrepreneurship. I really want to try starting my own business. I mean I started
0:22.2	like 50 plus blogs and online businesses and stuff like that over the past decade and none of them
0:26.6	worked right like I didn't make that much money but I wanted to do it so badly. I was like I
0:31.0	got to figure out a way out of this. Hello hello hello my name is Mindy Jensen and from time to time
0:36.6	Scott's schedule just doesn't have any room for me. Rather than let my listeners down I'm calling
0:41.2	on my friends to join me. Today Sarah Putt from OT for life is joining me with a rather unique
0:47.1	perspective on Pete's story. Pete helped Sarah launch her podcast which is all about occupational
0:53.0	therapy for OT's by OT's all about OT Sarah thank you for coming on this stone today to help me out.
0:59.7	Thanks Mindy for having me. I am super excited to be here and honestly I cannot wait to jump into
1:05.4	this conversation with Pete. He's been such an inspiration to me and I know so many others and also
1:12.3	a wealth of knowledge. Money pun totally intended even though Scott is not here it doesn't mean that
1:20.5	the puns don't have to be too. I love it I love it thank you for taking over as Scott we'll call
1:27.6	you Scott Light. Because you're not bigger than you. Sarah and I are here to make financial
1:34.5	independence less scary less just for somebody else to introduce you to every money story because
1:40.3	we truly believe financial freedom is attainable for everyone no matter when or where you're starting.
1:45.4	Whether you want to retire early and travel the world go on to make big time investments in assets
1:50.4	like real estate or maybe start your own business will help you reach your financial goals and
1:55.4	get money out of the way so you can launch yourself towards your dreams.
2:11.8	Sarah I am so excited to bring Pete McPherson in from Do You Even Blog. He is a very interesting
	...

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