Episode 296- How Tracy Paid Off $170K Of Debt, Why We Need More Queer Voices In The FIRE Movement & Being Open About Privilege
Journey To Launch
Jamila Souffrant
4.9 • 1.7K Ratings
🗓️ 16 November 2022
⏱️ 54 minutes
🧾️ Download transcript
Summary
Once blogger Tracy Levesque released her article titled, "What I learned from binge-listening to the entire Journey to Launch podcast," I knew that I had to have her on as a guest. She joins us after paying off $170k worth of debt and jumping on the financial independence, retire early movement.
We chat about the growth mindset her mom passed down to her, her entrepreneurship journey, how true wealth is providing education, curiosity, and the understanding of the value of experiences over material possessions, and why we need to have more LGBTQIA+ voices in the FIRE community.
In this episode, we discuss:
- What sparked Tracy's curiosity about the FIRE movement (Financial Independence, Retire Early)
- Building a business without a roadmap, hustling as an entrepreneur in the computer world + getting into real estate
- The steps Tracy and her wife took to pay off $170,000 of debt in 10 years using the debt avalanche method + zero-balance transfers
- Blind spots in the FIRE movement, using privilege for good + the call for more queer voices in the personal finance space
- How Tracy's mom taught herself about the stock market and became a successful investor + more
Transcript
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| 0:00.0 | It's really important for folks to know that queer folks do have financial concerns that |
| 0:09.1 | straight cis folks just don't have. |
| 0:12.5 | When you have a child, like you have to second parent adopt the child, that's one example |
| 0:18.1 | of like a financial cost and like other people don't have because like even if a straight |
| 0:22.2 | couple uses donor sperm, they still just put each other's names on the birth certificate |
| 0:27.6 | and that's that. |
| 0:28.6 | You don't have to do a second parent adoption. |
| 0:31.6 | Welcome to the Journey to Launch Podcast with your host, Jamila Sufront, as a mighty expert |
| 0:38.8 | who rocks her top. |
| 0:40.4 | She helps brave juniors like you get out of debt, save, invest, and build real well. |
| 0:47.5 | Join her on the Journey to Launch to Financial Freedom in 5-on-4-3-2-1. |
| 0:58.6 | Journey to Launch is supported by First Republic Bank. |
| 1:03.2 | Have you ever experienced a relationship with a banker who was available to answer all |
| 1:07.6 | your questions even by phone or email? |
| 1:10.4 | Doesn't exist, you say? |
| 1:12.3 | It does at First Republic. |
| 1:14.2 | At First Republic, everyone gets a personal banker who's ready to sit down and answer |
| 1:18.7 | your questions no matter how complex. |
| 1:21.6 | As someone who talks about money for a living, even I still get confused or have questions |
| 1:26.2 | about my money. |
| 1:27.7 | No question is too small or complicated. |
| 1:29.9 | I know I can call up my personal banker, Linda, who is dedicated to helping me make the |
... |
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