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ChooseFI | Financial Independence Podcast

End of Year Wins 2019

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Investing, Business

4.85.2K Ratings

🗓️ 30 December 2019

⏱️ 59 minutes

🧾️ Download transcript

Summary

One listener increased their savings rate from 25% to 75% in a single year. Another paid off $115,000 in debt in under three years. Someone else added $100,000 to their net worth in twelve months. These aren't carefully curated success stories from finance gurus—they're everyday people in the ChooseFI community sharing their wins from the past year. This mashup episode features listener voicemails and messages celebrating financial milestones, from maxing out retirement accounts for the first time to purchasing rental properties, leveraging travel rewards for dream vacations, and opening crucial money conversations with spouses. The breadth of achievements demonstrates how different paths can all lead toward financial independence. Community Wins Oren's Journey [00:02:03] - Maxed out his 401k and found joy in the FI journey. Lon's Achievements [00:02:29] - Increased savings rate from 25% to 65-75% through house hacking and side gigs. Victoria's Community Win [00:04:04] - Finding the ChooseFI community proved life-changing. Timothy's Real Estate Investments [00:04:25] - Purchased multiple rental properties generating significant income. Becky's Savings Success [00:06:23] - Saved and invested 73% of annual income after discovering FI. Femi's Progress [00:07:20] - Net worth grew from $400,000 to over $500,000 in one year. Key Quotes "The community sparked meaningful conversations about retirement with my spouse." [00:42:25] "Your journey to financial independence is just beginning." [00:02:29] "Achieving a 73% savings rate changed my family's future!" [00:06:23] "Our net worth skyrocketed from $400k to over $500k in just a year!" [00:05:23] "Life feels manageable, and financial independence is within reach in 15 years." [00:39:49] Key Concepts FI [00:01:33] - Financial Independence; having sufficient personal wealth to live without working actively for basic necessities. Savings Rate [00:17:59] - The percentage of income saved rather than spent, often an indicator of financial health. Travel Rewards [00:18:05] - Points or miles earned through spending on travel-related expenses and credit cards to get free or discounted travel. Resources ChooseFI: Your Blueprint to Financial Independence [00:07:20]

Transcript

Click on a timestamp to play from that location

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.

0:41.4

Hello and welcome to our last episode of the year, our last episode of the decade.

0:54.3

We have carved out the last episode of the year for a sole purpose to highlight this

0:58.9

community and specifically the wins and the financial gains and progress that this community

1:04.2

has made over the last year.

1:06.0

We let you know that this episode is coming up in every year.

1:08.5

If you're listening to this, I hope that you're as inspired by this episode as we are,

1:12.3

if you want to be a part of this because maybe you just in the last couple of months

1:15.4

started taking action, you want to be featured on next year's show.

1:19.2

We will do this every year and we anticipate that thousands and thousands of you will reach

1:23.5

financial independence over the coming years and as you stay with us on this journey.

1:27.7

So this is a moment for us to slow down and really highlight your wins.

1:31.2

And to help me with this, I have my co-host Brad here with me today.

1:33.4

How you doing, buddy?

1:34.4

Hey Jonathan, I'm doing great.

1:35.7

Yeah, this is probably the episode that I look forward to the most every year.

...

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