featured image for podcast episodeLessons From a Young Entrepreneur

Lessons From a Young Entrepreneur
Episode 422

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Posted by Choose FI

Episode Guide

Episode Summary:

Devon, a 17-year-old entrepreneur from Michigan, shares his unique journey toward financial independence (FI). Initially introduced to the ChooseFI community by his older brother, Devon has actively embraced unconventional paths. He declined a traditional college route, recognizing the burden of student debt, and instead focused on real-world business experiences. His entrepreneurial spirit is evident as he runs two businesses: breeding dogs and constructing tiny houses with his father. Devon reflects on the importance of having a long-term vision for savings and investments, discussing the power of financial literacy, opportunity costs, and the potential of compounding wealth. His insights challenge conventional wisdom about success and highlight the benefits of starting young on the FI journey.

Episode Timestamps

In this episode: taking the unconventional path, the price of time, early entrepreneurship, talent stacking, and the pursuit of learning.

At least once in most of our FI journeys, we have pondered what our life would look like if we started earlier. Maybe you have even wondered what value could've been gained if you had started in your teenage years. Well, for some context into the possibilities that decision could provide, we decided to have 17-year-old listener Devon on the podcast to discuss what life can look like when you go against the cultural norm of going to college, and instead opting for an entrepreneurial and FI-friendly lifestyle. Often we mention that there are rewards that come with stepping out of your comfort zone, and the same can be said for going against the societal norm and carving out your own path! For our younger audience who may be interested in getting started with their FI journey, let this episode be a useful resource and reassurance that this journey can begin no matter your age!

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Timestamps:

  • 1:55 - Introduction
  • 5:28 - Taking The Unconventional Path
  • 11:58 - The Cost Of Time
  • 16:36 - Early Entrepreneurship
  • 30:45 - Building The Talent Stack And Real Estate Investing
  • 36:56 - The Pursuit Of Learning
  • 45:18 - Saving And Investing
  • 51:53 - Early Retirement Planning
  • 69:49 - Conclusion

Resources Mentioned In Today’s Episode:

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