An Evening Of Financial Independence
Episode 137R
Episode Guide
Episode Timestamps
ChooseFI Episode Show Notes
Episode Summary
A Richmond screening of "Playing With Fire" brought together the financial independence community, showcasing the growth of the movement and sparking essential conversations. Brad shares personal experiences from the event, highlighting transformations among participants and the importance of community support. The episode emphasizes shifting mindsets and the empowerment gained through shared knowledge.
Key Topics Discussed
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Introduction and Welcome
- Welcome to the ultimate crowdsource personal finance show.
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Community Event Recap
- Discussion of the Richmond screening of "Playing With Fire."
- Significant turnout highlights the growth of the financial independence (FI) community.
- Many drove hundreds of miles to join the event.
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Christine's Journey
- Christine shares her story of losing her job shortly after marriage and pivoting to a side hustle with Lyft.
- Importance of community support and how it enabled her and her husband to find stability and progress toward their financial goals.
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Q&A and Discussion
- Discussion on how to create opportunities for financial independence through side hustles.
- Reflecting on personal values and aspirations to jumpstart new journeys.
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Conclusion
- Wrap-up of key insights and encouragement to start your journey toward financial independence.
Key Insights
- Community Transformation: The Richmond event highlighted community growth and support within the FI movement.
- Mindset Shift: Losses can lead to new opportunities and rebuilding life according to personal values.
- Side Hustles: Starting a side hustle can be done with minimal risk and can lead to significant financial benefits.
- Reflection: Reflecting on dreams and desires can catalyze personal growth and financial freedom.
Actionable Takeaways
- Reflect on what you want in life and start making changes:
- Consider starting a side hustle to increase your income:
- Participate in local FI community events to build your network and support system.
Quotes
- “A friend texted me, ‘I think I got the FI bug!’”** **
- “Playing With Fire sparks essential financial conversations.”** **
- “Financial demise led us to rebuild our lives the way we wanted.”** **
- “Start your side hustle with minimal risk.”** **
Related Resources
Speaker Highlights
- Brad Barrett: Discusses community impact and personal stories related to financial independence.
- Jonathan Mendonsa: Emphasizes mindset shifts and personal growth within the FI movement.
Email Campaign Segments
- Reflect on your goals—what have you always wanted to do? Now is your chance to pursue it!
- Join the 5-1-0-1 waitlist to kickstart your journey to financial independence.
Podcast Description
Explore the profound impact of the financial independence movement as Brad and Jonathan share insights from a recent screening of "Playing With Fire." Discover stories of transformation and resilience, learn actionable strategies to rebuild your life, and understand the power of community support.
Conclusion
Thank you for listening to ChooseFI! Keep pursuing your path to financial independence through community engagement and personal reflection.
Embracing Financial Independence: Lessons from the ChooseFI Community
The journey to financial independence (FI) is often sparked by community support, personal transformations, and the courage to pivot after setbacks. In this article, we will explore actionable insights and recommendations derived from experiences shared in the ChooseFI community, particularly highlighted during a recent screening of the documentary Playing With Fire.
Building Community Support
The Power of Connection
The financial independence movement thrives on community engagement. Attending local events, such as the Richmond screening, not only brings together like-minded individuals but also provides a platform for authentic conversations around personal finance. Engaging with others on this path fosters an environment where ideas can flourish and support is readily available.
- Action Point: Consider joining or forming local FI meetups. Share your journey, ask questions, and give advice. Face-to-face interactions can spark motivation and deepen your commitment to achieving financial goals.
Mindset Shifts for Success
Embracing Change
A significant theme that emerged from the conversations is the importance of a mindset shift. For many in the FI community, financial setbacks have become launching pads for redefining their lives. Reflecting on hardships can lead to a greater understanding of one's values, ultimately guiding decisions around money.
- Recommendation: Regularly take time to assess your life goals. Ask yourself, “What do I truly want to achieve?” This reflection can illuminate areas where you may wish to adjust your current approach.
Pivoting After Job Loss
Innovating Through Adversity
Christine’s story, shared during the Richmond event, exemplifies resilience in the face of adversity. After experiencing a sudden job loss shortly after marriage, she turned to side hustling with Lyft to maintain financial stability. This pivot was not just about survival; it was a strategic move that allowed her and her husband to thrive financially.
- Takeaway: Start exploring side hustle opportunities that align with your skills and passions. Side hustles can generate income without the pressure of leaving your day job. Experiment with various options until you discover what works best for you.
Designing A Life You Love
Intentional Life Design
One of the cornerstones of the financial independence movement is adopting a mindset of intentional living. The loss of a stable income can serve as a catalyst for individuals to reassess their priorities and pursue a life that resonates more closely with their values.
- Actionable Insight: Create a list of activities or lifestyles you have always wanted to pursue but have not yet explored. This may include traveling, starting a new business, or investing in personal development. Taking small steps toward these aspirations can enrich your life significantly.
Utilizing Travel Rewards for Financial Freedom
Maximizing Your Benefits
Many members of the ChooseFI community have effectively used travel rewards to enhance their financial freedom. This includes leveraging credit card rewards programs to travel inexpensively, which also opens doors to new experiences without significant financial burden.
- Tip: If you haven’t already, explore sign-up bonuses and ongoing rewards associated with travel-related credit cards. This could offer substantial savings on trips, providing opportunities to enrich your life without compromising your financial goals.
The Beauty of Continuous Learning
Cultivating Skills Over Time
Christine also emphasized the importance of narrative skills and storytelling in her journey through entrepreneurship. As she built her local tour guide business, she learned to curate compelling experiences that resonate with visitors to her city.
- Advice: Practice storytelling in your everyday interactions. This can enhance your communication skills and help you convey ideas more effectively, whether in personal or professional contexts.
The Importance of Feedback and Iteration
Adapting to Change
The ChooseFI community thrives on adapting to feedback and evolving strategies. Whether it’s through direct conversations with fellow community members or insights gained from listening to podcasts, understanding what works—and what doesn’t—is crucial for ongoing success.
- Actionable Step: Keep an open mind and actively seek feedback on your financial strategies. This could be through discussions in your local group or online forums. Adapting based on feedback can propel you forward.
Conclusion: Your Path to Financial Independence
The journey to financial independence is not solely about accumulating wealth; it’s about fostering personal growth, community engagement, and resilience in the face of challenges. By focusing on mindset shifts, seeking community support, innovating through setbacks, and being intentional with your life design, you can carve out a rewarding path towards financial freedom.
Remember, you are not alone in this journey. The ChooseFI community offers a vast network of individuals who are eager to share knowledge, experiences, and support. Embrace the power of the community, start your side hustles, and design the life you’ve always desired.
Take the first step today; reflect on your goals and see how you can actively pursue a lifestyle that excites you!
Brad and Jonathan discuss an evening of FI and how to be a storyteller.
[elementor-template id="143609"]Richmond Screening Of Playing With FIRE
The June 19th showing of Playing with FIRE was a hit. Over 500 people turned out for an evening of Financial Independence.
It just made me realize the scale of what the movement is. That was to me the biggest takeaway.
The volunteers behind the screens really made this event happen.
Shout Out To Ed
Ed is a key volunteer of the ChooseFI movement. Without Ed and his vision, the infrastructure of ChooseFI may not be what it is today. He volunteers many hours a week to help spread the ChooseFI message, especially to underserved communities.
Ed has helped build a team that is spreading an amazing message of FIRE. Thanks Ed!
FI 101
Our new course is going live soon. FI 101 is intended to be a resource for the community. With the information in the course, it should help people take action.
If you can incorporate the aggregation of marginal gains in your life, and that of your family, your friends, and your network is going to be so much better.
Sign up for the waitlist to take this course here. Please take it and send us feedback. We want to know what you think!
Why Everyone Needs To Be A Storyteller
Today, Christine is back on the show to share her best tips for becoming an amazing storyteller. Since founding her business, A Little Local Flavor, she has honed this useful skill.
Although you may not want to start a food tour side hustle, being a good tour guide and storyteller is useful in many situations. Whether you are running a meeting or on a conference call, being an effective communicator is useful. Plus, being the person that knows where to go will make you a valuable friend to have.
Being an effective communicator is just so important in the day to day life.
If you are interested in building a side hustle through storytelling, then what are you waiting for?
If you limit yourself to a completely original thought that nobody has ever had before then it's probably going to unnecessarily limit what you come up with.
You can add your own unique selling proposition to anything. Make your side hustle your own!
How To Build A Storyteller Skill Set
When you start to explore your city with the eyes of a tour guide, seek out the stories.
Try to talk to people that know a lot about the city. And really start figuring out the stories of people that have made your city what it is today because I promise you are gonna uncover some real gems.
When you find a good restaurant or bar, get to know the staff. Find out what the story behind the business is. The most important thing you can do is to practice.
I can tell you. Day one of being a tour guide, my tour was probably terrible.
Take action and start learning. Test out your abilities by seeing whether or not people pay attention when you tell a story.
Listen to the full episode with Christine here.
Community Feedback
Let's see what's happening in our community.
Local Group Shout Out: Baltimore
The ChooseFI local group in Baltimore had it most successful meet up yet. Alex, the leader, interviewed a member of the community that is FIRE. The group discussed his drawdown strategy and learned in the process.
The next meetup is on August 10th to discuss solar panels in depth!
Voicemail From Maria
Hi, Jonathan and brad. My name is Maria Bell and I’m here in Richmond along with you guys. And back in January my sister turned me onto the ChooseFI podcast.
My husband and I are in our mid-50s and while we have been saving since we’ve been in our 20s we didn't really know that much about the index funds and we just kind of let things ride and thought we were making the best choices. We’ve been car payment free and consumer debt free for 4 years. I haven’t taken a paycheck for years. 100% of my pay goes into my retirement and we’ve got a couple of rental properties but when I discovered your show I realized that I had not been optimizing everything that I could. My friends thought I was crazy when I gave up my cable four years ago and the landline.And now I’m realizing that I was on my way to FI but it just wasn’t happening quick enough.
I just want to thank you guys so much for everything that you do. I know I’ve reached out to you on Facebook and I’m stoked about watching playing with fire tonight at the Byrd Theatre and meeting both of you. But I just want to let you know as someone who is in front of groups of people all the time such as myself, that I am spreading the message. And I am hoping to change other peoples lives because I know a lot of the people that you feature on your show tend to be in their 30s and 40s. But there are 50 and 60-year-olds out there who think they will never be able to retire and they have these lavish lifestyles and they are going to work themselves into the grave because they think that’s what's normal. And we are trying to influence our community and not only hit our FI but to do it early, earlier than norm. So thank you so much for all that you do and yes I am truly addicted.
Voicemail From David
With ChooseFI, David got his wife on board with the FI lifestyle. He wanted to share two pieces of advice:
- Uber credit card. As an alternative to a premium travel credit card, David has the Uber credit card. It offers free cell phone insurance which saves him around $240 a year. Plus, it offers a $50 credit for streaming services.
- Affordable executive MBA program. He recently got an online MBA through Smartly for just $4,500 instead of up to $130,000 for another program. It is a great way to get new skills without paying a premium.
Although Brad and Jonathan do not buy phone insurance, it was a good tip for someone that does.
Look for cards that have the little perks that you get value from.
For Brad and Jonathan, premium travel cards make more sense based on the values in their life. If you are interested in learning more about travel rewards, then check out the free course here.
Related Episodes
New to FI? Be sure to check out Episode 100: Welcome To The FI Community!
