Aime to Invest – From Bankruptcy to FI in 8 Years

Financial Independence Podcast

The Mad Fientist

Taxavoidance, Business, Geographicarbitrage, Investing, Tax, Earlyretirement, Travelhacking, Entrepreneurship, Travel, Personalfinance, Stocks, Minimalism, Realestate, Frugality, Retirement, Financialindependence

4.8 • 1.7K Ratings

🗓️ 25 April 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode of the Financial Independence Podcast, I speak to Patrick Aime from Aime to Invest!

Patrick’s journey to FI is an incredible one. He…

Moved from his home in Rwanda to attend high school in Europe and college in America
Stayed in America after college and started working in the feast-or-famine world of sales
Started his own company and grew it to $5 million in revenue in four years
Used his success in business to invest in rental properties and live a lavish lifestyle
Lost everything during the 2008 global financial crisis and had to declare bankruptcy
Found FIRE and drastically reduced his expenses and started saving for the long term
Rebuilt a smaller business and started investing in short-term rental properties in Mexico
Utilized geographic arbitrage to lower his expenses even further
Hit FI 8 years after declaring bankruptcy and became a millionaire 2 years after FI

Patrick shares everything he learned during his rollercoaster financial journey so hope you enjoy the interview!

Transcript

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0:00.0	Hey what's up everybody welcome to the financial independence podcast the podcast where I
0:10.1	talk to some of the best and brightest in personal finance to find out how they achieved
0:13.6	financial independence.
0:14.6	I'm really excited about today's show I'm talking to a buddy of mine named Patrick who
0:19.3	I met way back in 2016 at Fincon San Diego which is a financial conference and he was
0:25.7	a mad scientist listener at the time and just came up and talked to me and my wife and
0:29.8	I quickly realized one he's a really fun guy to talk to but also he had a really interesting
0:34.6	story to tell so I'm excited to share it with you today.
0:37.9	Patrick's story is a bit of a rags to riches to rags to riches story and there's lots of
0:44.3	stuff that he learned along the way and I'm excited to dive into some of it but a brief
0:48.8	summary he built up a multi-million dollar business over the years and he was living the
0:54.4	multi-million dollar entrepreneur lifestyle a bit and sadly it all came crashing down during
1:00.7	the global financial crisis so he had to eventually declare bankruptcy and start from scratch
1:06.4	again and when he was rebuilding up his life in his business he realized he needed to get
1:12.4	his personal finances in order and that's how he ended up finding the financial independence
1:17.0	world and that led to him completely changing his you know outlook on spending and he ended
1:23.8	up trimming his expenses to less than 50% of before the financial crisis and he was able
1:31.0	to build up his business and his investments and he was able to reach financial independence
1:35.6	in just eight years after declaring bankruptcy so it's an incredible story with lots of lessons
1:41.4	learned in the doubts so without further delay Patrick thank you so much for being here
1:45.2	I really appreciate it.
1:48.0	Thank you for having me on my scientist this is an honor to be on your podcast.
	...

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