038 | The Why of FI

Published: Aug. 28, 2017, 5 a.m.

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038 | In today's podcast we discuss one of our most important topics: The Why of FI. Why we pursue this path, why we think it's a life 'superpower' and how it can help you escape the hamster wheel of life decades earlier than most people could ever dream.

In Today\\u2019s Podcast we cover: Discussion of the Why of FI as an introduction to the concept of Financial Independence and why we\\u2019ve chosen this path and this community Jonathan\\u2019s explanation of the \\u201chamster wheel\\u201d and what the normal \\u2018American dream\\u2019 looks like and why this will keep you chained to this treadmill for decades to come This is not a pursuit of freedom, but a pursuit of \\u201cstuff\\u201d You\\u2019re working full-time to afford these things that you can\\u2019t use because you\\u2019re working all the time

The important thing to focus on is what makes you happy Time is your most important resource This is not about liking or hating your job. This is about freedom and taking the power back in your life The concept of drifting and Jonathan\\u2019s questions that can help you highlight this feeling in your life

It is so hard for most people to find a way out of this life because they don\\u2019t have the time, energy or resources to figure a way out. But FI is the path out! FI is a truly optimistic message where everyone can make a difference going forward in their lives Instead of buying stuff, we\\u2019re looking to buy our magic \\u2018perpetual money making machine\\u2019 We try to keep our savings rate as high as possible and investing in low cost index funds

This is not a get rich quick scheme. You need to learn what you don\\u2019t know to get on the path to Financial Independence FI is about math and your savings rate FI is not about deprivation through frugality, but about making smart choices and optimizing things in life

How Brad saves a significant amount of money by being smart about a handful of things like house, car, cell phone, cable and food Jonathan is a \\u2018reluctant frugalist\\u2019 but he has seen the value in pursuing FI FI gives you the power to choose what you do with your time and if you intend to work going forward

You can start tomorrow to save money and pursue this path Now you can focus on what you actually want to do with your time in the future Most people\\u2019s lives would collapse within 3 months if they lost their jobs, but pursuing FI changes that entirely and gives you power to choose what you do You also have flexibility that would have been previously impossible\\xa0

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