Our savings rate has dropped from 50% to 10% over the past couple of years ... does that mean we're abandoning the FIRE Movement?
I discuss this question after responding to a listener who feels our decreased savings feels like a departure from our financial goals in years past.
Also, we hear from Mandy and Sean Senske about how they became millionaires in their 30's through "boring investing".
EPISODE RESOURCES
Firstly: Smart budgeting tools and real-life advice to get you on the path to family financial wellness. Learn more today!
FamZoo: Prepaid cards and financial education for kids, all in one award-winning app. Use the promo code MKMFAMZOO at check out for an extra month.
Die With Zero (Book)
Sean Senske (Website)
Mandy Senske (Website)
MKM RESOURCES
DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
When some people think of big dreams, they think of big houses, fancy cars, or flashy wardrobes.
But can big dreams be a lot simpler than that?
Nicole and I explore this topic, share out thoughts and ideas from the Marriage Kids and Money community as well.
RESOURCES
MKM Newsletter: http://www.marriagekidsandmoney.com/freegift
MKM Instagram: http://www.instagram.com/andyhillmkm
MKM Voicemail: http://www.marriagekidsandmoney.com/voicemail
What classifies someone as a "sell-out"?
Nicole and I explore whether either one of us has been a sell-out in the past. We also discuss what it actually means to be a sell-out.
We all need money, but where's the line?
RESOURCES
MKM Newsletter: http://www.marriagekidsandmoney.com/freegift
Sorry to Bother You (Movie): https://amzn.to/3uxJds2
MKM Instagram: http://www.instagram.com/andyhillmkm
MKM Voicemail: http://www.marriagekidsandmoney.com/voicemail
After reading "Die With Zero" by Bill Perkins, I feel like a changed man. I've gone from super saver for the last decade of my life to now maximize my life experiences as much as possible.
Nicole and I discuss why I enjoyed the book so much and how she feels about the ideas in Die with Zero. The time for us to maximize our life experiences is upon us ... don't worry my inner saver will keep us in check.
RESOURCES
Firstly: http://www.marriagekidsandmoney.com/firstly
Die With Zero: https://amzn.to/39njLeR
Instagram (MKM): http://www.instagram.com/andyhillmkm
Our family has reached Coast FIRE!
After saving and investing over $500,000 before our 40th birthdays, we are pumping the breaks on investing for retirement and focusing on other goals in our lives.
Find out how we did it and what those goals are in today's episode.
Also, for our Be the Change segment, Ed Grocholski from Junior Achievement shares why it's important to teach kids financial and entrepreneurial skills ... especially after the pandemic.
Lastly, we have another money quiz with my daughter Zoey and we'll read the review of the month!
RESOURCES
Tello: http://www.marriagekidsandmoney.com/tello
Firstly: http://www.marriagekidsandmoney.com/firstly
Wallet Burst Coast FIRE Calculator: https://walletburst.com/tools/coast-fire-calc/
Compound Interest Calculator: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
Junior Achievement: https://jausa.ja.org/
Sam Dogen from Financial Samurai shares how he was able to build up enough passive income to earn over $200,000 per year.
As a young father, he appreciates the opportunity to be there for his young family while still being able to provide a good life in San Francisco.
This is a "BEST OF MKM" episode from January 2020! Currently our most downloaded episode to date. Enjoy!
SPONSORS
Personal Capital: http://www.personalcapital.com/mkm
Firstly: http://www.marriagekidsandmoney.com/firstly
Taylor & Scott Rieckens started a very public journey towards FIRE (Financial Independence Retire Early) a few years ago.
They developed a documentary entitled "Playing with FIRE" that received high praise from publications like the US News calling it one of the "Top 10 Best Finance Movies of the Decade".
Nicole and I wanted to check in with these two filmmakers, parents and financial independence enthusiasts and see how their FIRE journey has progressed over the past few years.
You know, see if they are still playing with FIRE!
SHOW RESOURCES
Playing With FIRE - The Documentary: https://amzn.to/35UA816
Playing With FIRE (Website): http://playingwithfire.co
Generational Wealth is the type of wealth that allows your family to experience financial freedom, choice, and options for generations to come.
The type of wealth that allows you to have the financial power to be the positive change you want to see in our society and our country.
Our guest today, Anne-Lyse Wealth, is here to tell us more about Generational Wealth and how we can all pursue it for our families.
SHOW RESOURCES
Personal Capital: HTTP://www.personalcapital.com/mkm
Corporate Wellness (Contact Me): HTTP://www.marriagekidsandmoney.com/contact
Dream of Legacy (Anne-Lyse Wealth): https://dreamoflegacy.com/
Are you considering the FIRE (Financial Independence Retire Early) Movement?
This is a big decision to make especially if you're in a committed relationship. It's not just your decision ... it affects both of you.
Andy shares how he learned this the hard way and how he and Nicole are now pursuing a version of Slow FI ... enjoying your life and your work today instead of the traditional FIRE path.
Are you considering leaving the city to find a more reasonable place to live?
That's what Andy Hill and Stefanie O'Connell Rodriguez, host of Real Simple's "Money Confidential" Podcast, are covering today.
After that Andy answers a question about how to get your partner on board with FIRE (Financial Independence Retire Early).
And last but not least, Zoey and Andy do another money quiz!
Faith & Leo Jean-Louis recently paid off over $200,000 of debt. The year after, they invested over $100,000 in the stock market.
Discover how they did this and paid fewer taxes in the process. This inspiring young family is building generational wealth through faith, legacy, and focused investing.
What would generational wealth mean to your family?
Check out the show notes and video: https://marriagekidsandmoney.com/invest-100000-in-1-year-faith-leo-jean-louis
After working in his corporate career for 20 years, Tom is looking to resign and experience his financial independence.
He wants to do it right and leave with a severance package that helps him roll into his early retirement.
Sam Dogen from Financial Samurai joins me to help Tom engineer his layoff and make this process successful.
Also, Andy LeBlanc from Utah shares how he became a millionaire by age 41!
Lowering our annual expenses can allow us to achieve debt freedom and financial independence a lot sooner.
But spending less can also mean not having as much fun. And who wants that? Not our family!
That's why we went on a quest to decrease our UN-Fun expenses by $20,000 while increasing our FUN expenses by $10,000.
Who's ready to have more fun for less money?
I share all the details of how our family made this financial change up and how you can too.
In order to keep our personal information safe online, we need to remain vigilant and aware of how cyberattacks happen.
Dr. Eric Cole shares practical steps we can take to protect ourselves from malicious cyber crimes like phishing scams, hacks and data breaches.
This is serious business as families can lose so much of their hard-earned wealth. Listen to find out how the quick steps you can take to protect your wealth and your family.
After not having enough time with his family and being simply overworked, Joe DiSanto decided to pack up and leave California.
He and his family ended up in Florida.
With the lower cost of living, he's now semi-retired and spending more time with his wife and son.
Joe describes how his family made this transition physically and financially. He shares tips for others who are considering a big move and a life of geo-arbitrage.
Scott and his husband are a dual income no kids (DINK) household. They have come into some extra money lately and want to know what to do with it.
Do they invest the money? Do they save it? Or do they pay down debt?
To help me answer Scott's question, I've invited David and John Auten-Schneider from the Queer Money Podcast. These financial experts break down different options for Scott and how their decisions relate to LGBT couples in general.
Also, Kestrel McCorkle from North Carolina shares how she paid off her 50 acres of land and now owns it free and clear.
Financially Independent Millionaires, Nadia Busseuil and Nicole Carter share how dividend investing helps you achieve financial independence.
They share how to get started with dividend investing and why you don't need a lot of money to become an investor.
Lee Huffman, the blogger behind Bald Thoughts and the We Travel There Podcast, shares how to travel for cheap (or free) with credit card rewards and points.
This year, may not be the best for travel, but it is a great time to save up the points and miles for your next big vacation.
Lee shows us which cards are worth it, how to responsibly earn points and rewards, and how some simple steps can net you a nearly free dream vacation!
Co-Authors of "Start your FIRE", Dylin Redling and Allison Tom answer a listener question about how to increase income to retire early.
Also, Childhelp's Daphne Young discusses the state of child abuse in the US during the pandemic and what we can do about it.
Looking to create a financial independence plan? Let's define what financial independence means to you and review the tools to get you there.
Also, we chat with Deacon Hayes from Well Kept Wallet about how he paid off his mortgage in 5 years and how others can do the same!
Early retiree, Steve Adcock, joins us to answer a listener question from David who wants to retire by 40. He discusses what FIRE (financial independence / retire early) means, how to reach early retirement and how side hustles can help.
We also hear from the Founder of Qube Money, Ryan Clark, about why cash envelopes are more effective than using credit cards. He also shares how their new fintech solution gives you the best of both worlds.
Are you interested in achieving financial independence, but the traditional path seems too difficult to reach? Slow FI might be your ticket to a happier and more fulfilling life.
Jessica from the Fioneers explores how Slow FI helped transform her life and we also discuss the different levels of financial independence people can achieve throughout their life. These periodic wins can be helpful (and potentially more satisfying) along your path to financial independence.
Have you heard of Coast FIRE or Coast FI? We're learning all about this retirement planning strategy with Sam Dogen from Financial Samurai.
Also, we chat w/ Sarah Philips from 4 Pocket Allowance about helping your kids become mortgage-free in the future.
Jedidiah Collins, CFP explains how Roth IRA investing can help you increase your wealth as you move through your financial freedom journey. We discuss the advantages of a Roth IRA, how you'll save on taxes and how to open an account today.
Where does giving back and generosity fit in when pursuing financial independence?
Author Dave Mason thinks it should be a major part of everyone's FIRE journey. He shares 3 ways for you to give back as you are working toward your version of financial freedom.