924: The Equation for Financial Independence with the ChooseFi Founders

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 12 August 2019

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is the equation for financial independence? Today we have the co-hosts of the very popular ChooseFI Podcast, Jonathan Mendonsa and Brad Barrett. Both of these friends come to the personal finance space with their own unique experiences. Brad and his partner saved a million dollars in just 11 years. Jonathan was able to pay down a $168,000 in student loans. In 2017, Jonathan and Brad saw the need to bring even more community to the FIRE Movement, Financial Independence Retire Early Movement. After meeting up a few times together, they decided to create that community with their podcast called ChooseFI. Today, ChooseFI is helping to spread the FIRE Movement. Their crowdsourced podcast is over 2,600 reviews and their Facebook group has over 48,000 members. Their message is spreading and their podcast is a big force in this movement. We talk about their histories with money, how they educate their audiences around financial independence and is there an equation for financial independence? There actually is one. I was curious to find out. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 924, Jonathan Mendoza, and Brad Barrett, co-host of the Choose FI
0:06.1	podcast.
0:07.7	You're listening to So Money, with award-winning Money Guru Farnuosh Tarabi.
0:13.0	Each day get a 30 minute dose of financial inspiration from the world's top business minds,
0:18.0	authors, influencers, and from Farnuosh herself.
0:22.0	Looking for ways to save on gas or double your double coupons?
0:26.0	Sorry, you're in the wrong place.
0:28.0	Seeking profound ways to live a richer, happier life.
0:32.0	Welcome to So Money.
0:35.7	What we're describing is this equation, right?
0:37.4	The equation of life, what you earn minus what you spend
0:40.4	is equal to the gap.
0:42.2	And the cool thing about an equation is you can manipulate all
0:46.1	sides of that. You can focus on earning more. You can focus on spending less and
0:49.8	you can focus on doing a better job investing the difference.
0:53.0	What is the equation for financial independence?
0:56.0	Welcome to So Money, everybody.
0:58.1	Back from vacation, reruns are over.
1:00.9	We got fresh episodes all lined up for the rest of the year and we're kicking it off with
1:06.3	the co-host of the very popular Choose F.I.
1:09.3	P.I. standing for Financial Independence, Jonathan Mendoza and Brad Barrett. Both of these friends
1:15.9	come to the personal finance space with their own unique experiences. Brad and his partner
	...

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