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ChooseFI | Financial Independence Podcast

Kristi | Households Of FI Update

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Investing, Business

4.85.2K Ratings

🗓️ 11 November 2022

⏱️ 56 minutes

🧾️ Download transcript

Summary

Most people wait until they're completely comfortable in their jobs before looking around. Christy did the opposite — and it paid off. After graduating with her MBA and transitioning from engineering to marketing, she used practice interviews and LinkedIn networking to land a better role, all while merging finances with her fiancé and teaching her middle-school daughter about money. Her updates cover career pivots, wedding planning on a budget, and the surprisingly hard question: how do you teach financial independence without being overbearing? Key Takeaways Leaning into discomfort fosters personal growth and improves professional skills Practicing interviews and networking on platforms like LinkedIn can lead to successful job transitions Thorough research and preparation are crucial when negotiating salary and benefits Having shared values with a partner regarding finances is essential for a healthy relationship Early financial education for children prepares them for future independence Chapters [00:00:00] Introduction to Christy's Journey [00:04:01] Career Development Update [00:05:29] Job Search Journey [00:15:02] Negotiating Salary and Benefits [00:27:13] Financial Alignment with Fiancé [00:39:41] Family Financial Education [00:52:51] Wrap-Up Notable Quotes "I'm starting to think, okay, I've been at this company for a long time, maybe I should at least investigate kind of what else is out there." [00:09:59] "It really helps you refine your elevator pitch, for sure." [00:07:36] "What do we do to set them up? How do we teach them lessons without being overbearing?" [00:39:41] "I wish I had started learning those lessons at 12." [00:51:45] Action Items Practice for job interviews: Engage in mock interviews to build confidence and improve interviewing skills [00:05:29] Clarify spending values: Before making significant financial decisions, ensure they align with personal values [00:28:29] Open conversations about money: Foster regular discussions about finances with children to prepare them for financial literacy [00:47:01] Consider proactive networking on LinkedIn [00:15:19] Evaluate your job satisfaction and reflect on potential changes [00:09:59] Discuss financial values with your fiancé or partner [00:28:45] Related Resources The Simple Startup - A resource for teaching entrepreneurial skills to kids [00:50:13] Alan Donegan's Extraordinary Life Course - A free course on building an extraordinary life [00:23:41] Terminology FI: Financial Independence, meaning having sufficient personal wealth to live without needing to work actively 529 Plan: A tax-advantaged savings plan designed to encourage saving for future education costs [00:39:41] Elevator Pitch: A brief, persuasive speech that you can use to spark interest in what you or your organization does [00:07:36] Related Episodes Episode 221: Introducing Households of FI [00:02:54] Episode 259: Chat with Big Earn [00:02:54] Episode 314: Investment Strategies with Brian Feraldi [00:02:54]

Transcript

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0:00.0

Hello and welcome to Choose a Phi today on the show.

0:02.9

We have another households a Phi update.

0:05.0

So we have Christie back on the show.

0:07.8

And Christie is a single mom from Minnesota

0:11.6

with a daughter in middle school.

0:13.7

Last week spoke with her, she had just graduated with an MBA

0:16.4

and she works in marketing.

0:18.1

She had found Phi and it seemed to me

0:20.4

like she was just absolutely rocking it.

0:22.6

She had a plan to get to Phi in 10 years of 50% savings rate

0:27.6

and then she had the next level questions, right?

0:30.9

To think about, okay, second generation Phi,

0:34.1

how do I set my daughter up for all of the ground game,

0:38.2

as we say, right?

0:39.2

How can we teach our kids to be ready to succeed wildly

0:44.2

with their finances?

0:45.2

And how do you think about college?

0:46.8

She thought about I was drifting through life

0:49.6

without intentionality, but now I can have the time

0:53.2

to really dial in on these things.

0:54.9

So this was all going on in the background

0:57.3

and this is a very typical Phi story.

...

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