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This is Money Podcast

How I became financially independent: An interview with The Escape Artist

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1650 Ratings

🗓️ 25 July 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

In this special bonus This is Money podcast interview, Simon Lambert speaks to Barney Whiter, whose The Escape Artist blog helps others to try to achieve the same financial independence he has.

Barney tells Simon what financial independence means to him, relates how he got there and his successes and mistakes along the way, gives some tips for budding FIRE savers, and explains why he still choses to do some work.

Transcript

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0:00.0

Welcome to a special bonus episode of the This Is Money podcast.

0:06.0

Not with me, Georgie Frost, but with editor Simon Lambert and Barney Weiter.

0:11.0

Following on from last week's episode about the fire movement, Financial Independence and Retiring Early,

0:16.0

our Simon went off to find out more. He spoke to Barney, who has done just that. He paid off

0:21.9

his mortgage at 32, built up an investment portfolio, and then quit his job in 2014 at the

0:28.4

age of 43, all whilst supporting a family with three kids. No lottery wins, inheritance or

0:34.1

illegal activity involved. Barney now helps others do the same in his blog, The Escape Artist.

0:40.5

Barney, welcome to the This Is Money podcast.

0:43.0

So I guess I kick off by asking, what does financial independence mean to you?

0:49.3

And are you financially independent?

0:52.2

Yeah.

0:52.7

So to me, financial independence is synonymous with financial freedom.

0:59.0

So to me, it's about freedom, it's about choices, and it's about having the option, whether to work,

1:07.0

and if you do choose to work, you know, what sort of work you do, what hours you do, what sort of

1:12.7

people you work with, etc. So to me, it's all about optionality. I'm financially independent. I used to

1:20.8

work as an accountant and I quit that in 2013. So I've been essentially financially independent for the last, whatever, eight years or so.

1:33.0

And have you continued to work in that time?

1:35.7

Yes, I, there's always a period, I call it the decompression period.

1:40.1

So after I quit, you know, there was a period I didn't want to do anything.

1:43.6

I just wanted to kind of chill, relax, you know, throw away the alarm clock, wake up naturally.

1:48.6

But after a while, you look for things to do.

1:51.5

And so, you know, since then I've been writing my blog, the escape artist.

...

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