The Escape Artist - FIRE in the UK

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

🗓️ 15 December 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

I have some big news…

I am now a British citizen!

In honor of finally getting my UK passport, and therefore completing this long journey to citizenship, I am releasing my UK FIRE episode.

Barney, from The Escape Artist, joined me in my Edinburgh apartment (before the pandemic) to discuss all things related to financial independence and early retirement in the UK.

Hope you enjoy it!

Highlights

The cultural differences between US/UK that affect pursuing FI
How to escape from the prison we create for ourselves
Translating US investing terminology to the UK (e.g. 401k→pension, IRA→ISA, etc.)
Is it easier to reach FI in the US or UK
Class structure in UK and how pursuing FI forces you to traverse all classes
Why FIRE isn’t bigger in the UK
Difference between the different types of ISAs
Is tax hacking possible in the UK
Real-estate investing in the United Kingdom and the fantastic Rent-a-Room scheme
How to use geographic arbitrage to reach FI sooner

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, what's up everybody, welcome to the Financial Independence Podcast.
0:09.0	The podcast where I get inside the brains of some of the best and brightest in personal
0:12.0	finance to find out how they achieved financial independence.
0:14.9	Today's episode is a long time coming.
0:16.6	I actually interviewed my guest two years ago, which because of the coronavirus pandemic
0:21.7	seems like a lifetime ago, but the reason I haven't published the episode yet is because
0:25.8	I've been waiting for something really special that happened and that just happened
0:29.9	last month.
0:30.9	I'm excited to tell you that I am now British, which is something I never expected
0:36.5	to be in my life, but I'm so happy that I am at this stage because over the last six
0:41.8	plus years I've been sending in lots of money and applications and spending lots of time
0:47.2	trying to get my British citizenship so that I can just come and go as I please.
0:51.6	And thankfully that finally was successful and now I'm a dual US UK citizen and I couldn't
0:58.0	be happier.
0:59.2	So to celebrate, I'm finally releasing the UK episode and I'm excited to introduce
1:04.4	my guest who is Barney from the Escape Artist and those of you in the UK will know Barney
1:09.7	because he's probably one of the biggest fire blogs in the country.
1:13.2	So when Barney was up in Edinburgh for the Edinburgh Festival in 2019, he stopped by
1:18.7	my flat and we sat down for an hour and just chatted about fire in the UK and we dove
1:25.2	into a lot of UK specific stuff, but we also compared it to how people in the US pursue
1:30.8	fire and the differences between the two countries that make something easier and something
1:35.9	more difficult.
	...

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.