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ChooseFI | Financial Independence Podcast

A Purple Life | Early Retiree Case Study

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Business, Investing, Careers

4.85.2K Ratings

🗓️ 2 March 2020

⏱️ 50 minutes

🧾️ Download transcript

Summary

Most people who retire at 30 had wealthy parents or got lucky with a startup — not a regular salary earner cutting expenses to $18,000 per year. A Purple Life took a different path to financial independence by documenting every expense and salary negotiation publicly on her blog. By moving from an expensive city to a more affordable one and aggressively analyzing her spending, she built a roadmap to early retirement without sacrificing quality of life. Key Topics Discussed Radical Transparency in Personal Finance [00:02:00] Sharing financial details openly and the value of anonymity The Journey to Financial Independence [00:03:48] Initial resistance to FI, how perspectives changed, and steps taken to embrace the goal Geo-Arbitrage [00:08:23] Moving from New York to Seattle to significantly reduce living expenses while maintaining salary Reducing Living Costs [00:11:30] Breakdown of living expenses and how yearly costs were cut to $18,000 Job Spotter [00:18:01] App that pays users to take pictures of hiring signs Salary Negotiation Strategies [00:20:05] Using job changes and strategic negotiations to increase income significantly Key Quotes "There are always choices that a city provides." [00:17:19] "I realized it wasn't all it was cracked up to be." [00:43:12] "Figure out what makes you happy and go after that." [00:46:29] Timestamps [00:02:08] Introduction and Overview of A Purple Life [00:03:48] Finding Financial Independence [00:07:30] Transition from New York to Seattle [00:11:30] Living Costs and Grocery Expenses [00:18:01] Job Spotter and Earning Extra Cash [00:20:05] Salary Negotiation Strategies [00:25:46] A Purple Life's Journey to Financial Independence Related Resources A Purple Life Blog

Transcript

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0:00.0

Your listening to Choose FI Radio.

0:09.6

The blueprint for financial independence lives here.

0:20.4

If you're looking to unblocked as secrets to financial independence and early retirement,

0:25.4

you're in the right place.

0:27.2

Stay tuned and join a community of like-minded people who are getting all fans to hear and

0:32.2

taking control of their lives in the pursuit of financial independence.

0:36.4

Choose FI, your home for financial independence online.

0:43.2

Alright everyone on today's episode we are getting the opportunity to speak with an anonymous

0:54.8

blogger.

0:55.8

I say this to say that I think there have been so few anonymous bloggers that we have

0:59.8

interviewed recently.

1:00.8

I've forgotten some of the advantages of being an anonymous blogger and one of them is

1:04.9

the radical transparency.

1:07.3

Today we're going to be speaking with a purple life right over to purplelife.com and

1:10.4

she through the freedom of anonymity has documented every single expense, every single salary negotiation

1:16.4

that she made her net worth on a day to day month to month year to year basis and has

1:20.8

put it all out there for the community.

1:23.3

I know that the community has soaked it up and it's been refreshing to see it.

1:26.9

So as you listen to this episode, realize the only thing you're not getting is her actual

1:32.0

first name.

1:33.0

I just want you to appreciate the fact that it's actually hard to get someone to come

1:36.1

on and share this level of information with you because there's a privacy aspects to

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