Fifth (and Final) Annual Update

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

🗓️ 20 August 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’ve followed me for a while, you’ll know that I’ve released an annual update every year since I quit my job.

It’s now been five years since I stopped working so this is my fifth (and final) annual update.

Why is it my final one?

I explain in today’s short episode.

Highlights

How the pandemic highlighted the power of having savings
Why FI is the ultimate shock absorber and cheat code
The reasons this annual update will be my last
What to do when money is no longer a source of motivation
Why “Lean FIRE” may be a bad idea
Warren Buffet’s plan for leaving money to his kids (and why it may change your FI target)

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, what's up everybody, it's Matt Feintis, welcome to the Financial Independence Podcast.
0:10.6	Sorry it's been a while since my last episode, but after being trapped in Scotland for 15
0:15.4	months because of the pandemic, I was finally able to make it back to the States and I just
0:19.6	decided to take a few months off just so I could focus on spending a lot of quality
0:23.4	time with the family that I had been missing over the past year.
0:27.0	So since it's been a while, I just have a short episode today to get back into the swing
0:30.3	of things and if you've listened to the show before, you know that every year on my anniversary
0:36.4	of leaving work, I've posted either a podcast or an article about some of the things that
0:42.0	I've learned over that past year and this is actually my fifth one, so that means five
0:47.7	years ago on August 1st was the last day I went into a normal job and I really can't
0:53.3	believe it's been five years.
0:54.8	And it has, so this is my five year update and I actually think it's going to be my last
1:00.1	and I'll explain more as this episode continues on, but yeah, I really don't feel like I'm
1:05.9	going to do any more of these any updates.
1:08.6	So rather than Rambolon, let's just dive into everything that I learned over the past
1:13.3	year of post-fi life.
1:17.0	So let's start with the good stuff.
1:18.4	So the pandemic has just highlighted how valuable having savings is and yeah, fi savings is
1:25.6	obviously great because you don't have to work at all, but even some amount of savings
1:30.1	just to give you the power to do other things is so important.
1:34.9	So many times over the last year, it's been apparent that just how valuable that is.
1:39.8	So from like Jill not having to work when she felt like it was unsafe to do so to not
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Mad Fientist, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Mad Fientist and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.