436 | From Vision Board to Action: A FI Success Story | Rakesh

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 8 May 2023

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: getting comfortable investing, the vision boards, salary negotiations, and the skill of spending

Whether it's wanting to pay off your debts or get yourself set up for your future, there are many motivations for wanting to begin the path towards FI. This week we are joined by listener and fan of the podcast Rakesh to discuss how his journey to FI has been over the last 3 years, and the lessons he’s learned along the way. We often stress on the podcast the importance of bold moves and taking action as an important step to achieving FI, and Rakesh is the embodiment of just that! Everyone on this journey starts from a different place, just as everyone’s long term goals differ, but don’t allow yourself to be bogged down by the little hiccups that come with this journey. By pushing ahead and being mindful of your short and long term goals, you may find yourself stepping out of your comfort zone towards the life you want to be living!

Timestamps:

1:15 - Introduction
4:50 - The Evolution Of The FI Journey
12:52 - Getting Comfortable Investing
22:09 - The Vision Board
30:39 - The Skill Of Spending And Future Planning
37:13 - Low Cost Of Living Areas
43:05 - Salary Negotiating And Job Transitioning
53:11 - The Impact Of Staying Put
56:06 - Conclusion

Resources Mentioned In Today’s Episode:

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
Keep learning or start a new side hustle with one of our educational courses
Commission-Free Investing with M1 Finance

Transcript

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0:00.0	I wanted to pass along some timely news that the bonus on our favorite travel rewards
0:04.1	credit card, the Chase Sapphire Preferred, just increased to 80,000 Ultima rewards points.
0:09.6	I think you can easily get two cents per point in value on these ultimate rewards, so 80,000
0:15.0	could be worth over $1,600 in free travel when you transfer them to partners like Hyatt
0:21.2	or United or British Airways.
0:23.4	So this is a really lucrative signup bonus right now.
0:26.5	The details are you get 80,000 Ultima rewards points when you spend $4,000 in the first
0:31.8	three months.
0:32.8	There is a $95 annual fee on the card, and this is all accurate as of the date I'm recording
0:37.8	this, which is April 29, 2023.
0:41.3	Important note that I wanted to pass along, you can apply for this card if you don't currently
0:45.0	have either of the Sapphire cards, so that's Chase Sapphire Preferred or Chase Sapphire
0:49.8	Reserve, and you haven't received a new card member bonus for either of those cards in the
0:55.6	past 48 months.
0:57.4	This is a really, really good time to get what I think is the single best travel rewards
1:01.5	card the Chase Sapphire Preferred.
1:03.4	So if you're interested in more details, go to choose fi.com slash csp, that's csp for
1:09.9	Chase Sapphire Preferred.
1:11.8	Choose fi.com slash csp.
1:14.0	This is a really great way to get started with travel rewards.
1:18.4	Hello and welcome to Choose a Fi.
1:20.2	Today on the show, we have longtime community member, Rakesh, who actually grew up in India
	...

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