Lacking Ambition – Three Months After Financial Independence

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

🗓️ 3 June 2013

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike from LackingAmbition.com joined me for an episode of the Financial Independence Podcast to discuss how he achieved FI in just over 3 years!

After working for just over three years, Mike was able to amass enough savings to purchase (with cash) three single-family houses. By living in one of the houses and renting out the other two, he now has enough rental income to completely cover his living expenses.

During the interview, Mike discusses how he was able to buy three properties, each for under $25,000, in a region that is typically considered to be an expensive market (New England).

In addition to real estate investing, I also talk to him about his time living in a tent in the New Mexico desert, discuss how he too was able to obtain a free Ivy League degree while working full time, and find out what life is like three months after achieving financial independence.

To read the full article, visit http://www.madfientist.com/lacking-ambition-interview/

Transcript

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0:00.0	I'm blind.
0:03.0	I'm blind, you can be with the finance.
0:07.0	Hey, welcome everyone to the fifth episode of the Mad Finest Financial Independence
0:11.1	podcast.
0:12.1	My guess today is Mike from lacking
0:14.0	ambition.com. Not only is lacking ambition one of my favorite blog names but it's also
0:20.8	one of my favorite blogs as well.
0:23.0	Mike's been writing for over five years now I think,
0:26.0	and I've been an avid reader for at least the last couple,
0:30.0	so I've been very excited to get him on the show to talk to him.
0:35.2	Lacking a mission is actually a little bit of a misnomer because he's done some pretty
0:39.8	incredible things in a very short amount of time in his life.
0:44.0	So not only did he build up a real estate portfolio that is now producing enough income to
0:50.9	sustain his lifestyle completely. He did a very early in life
0:55.0	after quite a short working career and he was also able to pick up a law degree along the
1:00.9	way. So there's a lot to talk about I'm excited to have them on the
1:04.2	show so hey Mike I really appreciate you taking the time to talk with me today no problem
1:08.9	thanks for writing me yeah so for those out there that aren't familiar with lacking ambition.com, it's, you've been writing
1:16.1	there since I think about 2007.
1:19.2	Yep.
1:20.2	But your, your pursuit of Fai started long before that, is that right?
1:25.0	Yeah, I'd say if I had to pick a time when it really started,
	...

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