398 | Troy & Lindsay | Households of FI Update
ChooseFI
Brad Barrett | Choose FI Media
4.8 • 5K Ratings
🗓️ 7 October 2022
⏱️ 59 minutes
🧾️ Download transcript
Summary
In this episode: career changes, up-skilling, re-prioritizing, accruing debt for value, childcare, and emergency funds.
The journey to FI is never linear. Sometimes we can find ourselves thinking the only way to meet our goals is to follow a strict plan, which can make adjusting said plan feel like a daunting set back. Well, our returning Households of FI guests Troy and Lindsay believe that flexibility during ones journey to FI can provide you with tremendous value! Making changes in your life, whether it's accruing temporary debt or changing careers, can actually lead to big time payoffs! While it may feel more secure to have a set trajectory with your financial goals, we know life gets in the way! So instead of sticking with a plan that isn't making you happy, try to stay flexible and evaluate all your options!
Timestamps:
- 1:34 - Introductions
- 4:55 - Troy and Lindsay Update
- 12:10 - Avoiding Over Optimization
- 18:49 - Up-Skilling & Career Changes
- 27:56 - Upgrading Income and Re-evaluating Priorities
- 36:15 - Accruing Debt for True Value
- 40:20 - Emergency Funds
- 42:58 - Going On Autopilot
- 46:00 - Expenses and Childcare
- 50:34 - Evaluating Your Work and Worth
- 53:14 Raising FI Children
- 58:54 - Conclusion
Resources Mentioned In Today’s Episode:
- Introducing Our Households of FI!! Part 1 | ChooseFI Ep 221
- Households of FI-Troy & Lindsay and Brad Calculate Their FI Number | ChooseFI Ep 241
- Mr Money Mustache
- The Mad Fientist
- The Great Man Within
- Level Up In Tech
- Udemy
- A Cloud Guru
- TalentStacker's Salesforce Career Development Program
- The BiggerPockets Money Podcast
- 1500 Days to Freedom
- Should I Refinance My Mortgage? | Ep 167R
- New Retirement
- Negotiate Your Salary With Tori Dunlap | Ep 147
- How to Negotiate Your Salary Without Burning Bridges | Financial Mechanic | Ep 211
- "Raising Your Money-Savvy Family For Next Generation Financial Independence" By Carol Pittner and Doug Nordman
- Subscribe to The FI Weekly!
More Helpful Links and Resources:
- Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
- Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
- Track your personal finances with Personal Capital
- Keep learning or start a new side hustle with one of our educational courses
- Slash your cell phone bill without sacrificing service with Mint Mobile
Transcript
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| 0:00.0 | All right, hello and welcome to Choose a Fire. Today on the show we are reviving a popular series |
| 0:05.4 | that we started a couple years ago called the Households of Fire and we're starting back with Trojan |
| 0:10.4 | Lindsay. They have been on the show three times. So the first was an introduction in episode |
| 0:15.2 | 221, then I spoke with them to calculate their fine number in episode 241 and Grumpus Maximus |
| 0:22.6 | helped them talk through the value of a pension in episode 316. So this is the fourth touchpoint |
| 0:30.0 | with Trojan Lindsay and I'm just fascinated to hear what they've been up to. What's going on in |
| 0:34.4 | their life? How the path to fire is going? Good, bad, ugly, everything in between and it's been a |
| 0:40.8 | year and a half. So this should be a lot of fun to see what they've been up to. So with that, |
| 0:45.2 | welcome to Choose a Fire. Your listening to Choose a Fire Radio. The blueprint for financial independence |
| 0:53.5 | lives here. If you're looking to unlock the secrets to financial independence and early retirement, |
| 1:07.0 | you're in the right place. Stay tuned and join a community of like-minded people who are getting |
| 1:12.4 | off the Amsterdam School and taking control of their lives in the pursuit of financial independence. |
| 1:18.0 | Choose a Fire. Your home for financial independence online. |
| 1:34.4 | Lindsay and Trojan, I'm so excited to have you back. This should be a lot of fun. |
| 1:38.0 | Thanks for having us. We're glad to be back. It has been a little bit, huh? |
| 1:40.9 | Hey Brad. Hey, this is cool. It's nice to have my fellow Virginians here on the podcast. |
| 1:46.8 | So yeah, so it's been almost two years since the three of us spoke and we talked about calculating |
| 1:53.2 | your fire number, right? And that was not all that long after you found the fire community. So |
| 1:59.6 | as I understand it, it's been about almost three years ago that you found the concept of fire |
| 2:04.7 | at the end of 2019. But for obviously the audience who hasn't listened to your first couple episodes, |
| 2:10.6 | let's do like a quick overview of kind of where you were. And then we can do a catch up and talk |
| 2:18.6 | through any questions, issues, things that have arisen or just cool things that are going on in |
... |
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