Dark Side of Value
Episode 058R
Episode Guide
Episode Timestamps
Building Community for Financial Independence
In the pursuit of financial independence, belonging to a supportive community plays a pivotal role. Engaging with like-minded individuals can not only enhance your financial literacy but also foster personal growth and empower you to take meaningful steps towards your goals. This article explores how you can leverage community connections, local groups, and shared experiences to optimize your journey towards financial freedom.
The Importance of Community Connection
Community provides the foundation for growth, inspiration, and motivation. When you connect with others who share similar financial goals, you create an environment that accelerates learning and accountability.
Find or Start Local Groups
You do not need to be located in major financial hubs to find or create a local financial independence (FI) group. Many cities have active communities waiting to be discovered. If there isn't a group in your area, take the initiative to start one. Use platforms like meetup.com or local social media groups to connect with others interested in financial independence.
- Action Item: Visit choosefi.com/local to see if there's a group near you or learn how to start your own.
Utilize Online Platforms
Joining online platforms, such as the ChooseFI Facebook group, can enhance your sense of belonging. These spaces allow for sharing personal victories, seeking advice, and engaging in discussions that can sharpen your financial perspective. The community aspect creates a collective intelligence, where everyone benefits from shared experiences.
Optimizing Life through Community Engagement
Engaging in community events, such as Camp FI, offers transformative opportunities. These gatherings are designed to connect individuals dedicated to improving their financial situations and expanding their knowledge base.
Attend Events for Growth
Events like Camp FI not only introduce you to valuable resources but also enable deep connections. Through workshops, roundtables, and social interactions, you can learn from seasoned individuals and fellow attendees about effective strategies for financial independence.
- Upcoming Opportunity: Look out for events such as Chautauqua, where you'll engage with thought leaders and gain insights on optimizing your financial journey. Make sure to secure your ticket early as these opportunities sell out quickly.
Empowerment through Connections
Finding support through a community can significantly influence your motivation and success. Recognizing your capabilities in a collaborative environment can empower you to make bolder financial decisions.
Sharing Frugal Wins
Celebrating small victories—or "frugal wins"—with your group is a powerful motivator. These wins, whether it's negotiating a better deal on a subscription or finding a way to cut unnecessary expenses, showcase the practical application of financial concepts in everyday life.
- Reflect: How do you define your own personal frugal wins? Reflecting on these moments can inspire you and others in your community.
Resources for Personal Growth
In addition to local support, the ChooseFI community provides a wealth of resources to aid your financial education and independence.
Written Contributions and Articles
Stay informed by checking out articles from new contributors within the ChooseFI community. These insights can guide you strategically as you formulate your plans for financial independence.
- Recommendation: Explore these resources and consider contributing your experiences and knowledge to the community.
Recommended Reads
For foundational knowledge on financial independence, books such as "The Simple Path to Wealth" by JL Collins and "Design Your Future" by Dominick Quartuccio are invaluable. These texts provide essential frameworks for understanding personal finance and envisioning a successful financial future.
Engaging with Feedback
Active participation in community discussions can greatly enhance your personal growth. Provide feedback and engage with others to share best practices, new ideas, and remain motivated.
Review and Win
Engaging with the community can lead to exciting opportunities. For instance, leaving a review for the podcast can enter you into a drawing for financial books that may provide further insights into your financial journey.
- Action Item: Leave a review at choosefi.com/itunes for a chance to win insightful financial literature.
Your Journey to Financial Independence
The essence of financial independence lies not just in individual efforts, but in how effectively one engages with community resources. Here’s a recap of actionable steps you can take:
- Join a Local Group: Search and connect with a local FI group to share insights and experiences.
- Engage Online: Become an active participant in online discussions, sharing your victories and challenges.
- Attend Community Events: Seek out opportunities to attend workshops and meet-ups that enhance your understanding and support network.
- Reflect on Your Wins: Take time to celebrate your frugal wins and encourage others in your community to do the same.
- Continue Learning: Explore books and articles that expand your knowledge and provide practical strategies for financial freedom.
Ultimately, the journey toward financial independence can be accelerated through deep community connections and shared experiences. Embrace these opportunities and watch your financial goals transform into reality. Keep pushing forward—your financial independence is within reach!
Our Friday roundup of last Monday’s CampFI episode, a discussion on pensions and of the value of CFPs.
[elementor-template id="143609"]On today’s episode we cover:
• CampFI
• How easier it is to communicate with people in the same community
• Why the entire community is about life optimization
• Amy’s Facebook post on why more change happens in groups
• Write a review to win a ticket to the next CampFI
• Brad and Jonathan will be keynote speakers at an event in Greece
• The ChooseFI writers
• Brad’s frugal win of the week
• Jonathan’s frugal fail
• How DIYing boosts confidence
• How Leann records her steps to FI
• Grumpus and how he reaches an audience relating to his message
• Voicemail from Tess about pensions
• Grumpus’ detailed answer
• The great idea of having an annual family finance review
• When a CFP can be of value
• The importance of the fiduciary rule
• iTunes review and book giveaway
Links from the show:
- CampFI
- Find your city: ChooseFI.com/local
- The Power of Habit by Charles Duhigg
- Get 1% better Binder
- Tickets to the event in Greece: ChooseFI.com/greece
- Big Announcement: The 2018 Chautauqua events will be in Greece this October!! And Jonathan and I will be speakers Along with the amazing lineup of Jim Collins, Kristy and Bryce from Millennial Revolution, Katie and Alan Donegan and Carl from 1500 Days! There are a max of 60 total tickets for the 2 sessions and we want the ChooseFI community to get first crack at the tickets, so sign up for the early email notification list by clicking on this link and entering your email on the right where it says "Sign up to be told first about 2018's Chautauqua"(as an aside, I've seen pictures of the resort and WOW is my only reaction!)
- How I Save Thousands of Dollars and get Professional Money Advice by Grumpus Maximus
- Grumpus Maximus turns Tess's question into a Case Study on his blog
- Read This Before Taking a Lump Sum Pension on Forbes
- Ultimate guide to Safe Withdrawal Rates series
- Part 8: Deciding to take a Pension Lump Sum by Grumpus Maximus