One listener in Japan quit a toxic job — not because of a side hustle, but because she hit her FI number. Another family maxed out every investment account they have for the first time ever. A third person increased their net worth by $123,000 in a single year. The year-end wins episode captures the ChooseFI community sharing their biggest financial victories of 2023, from first-time homebuyers to people achieving Coast FI. These aren't hypothetical strategies — they're real results from people who took action.
Chapters:
- Introduction to Year-End Wins
- Voicemail from Katie
- Voicemail from Rakesh's Son
- Voicemail from Stephanie
- Voicemail from Brian
- Voicemail from Boyd
- Voicemail from Kaori
- Voicemail from Anthony
- Voicemail from Donna
- Voicemail from Sabrina
- Conclusion
Key Moments:
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Importance of outlining financial goals at the beginning of the year to provide direction.
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Celebrating victories, both big and small, helps maintain motivation.
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Katie shares her family's financial wins, including a successfully maxed-out Roth IRA and a taxable brokerage account. "This year, we checked every single box!"
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"I can now share valuable financial knowledge with the next generation."
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Reflection on reaching all investment buckets and the value of community in the FI journey.
Stephanie highlights her journey: improved health, financial growth, and family experiences. Net worth increase of $123,000 through various strategies.
Discussion of Coast FI — having enough savings to retire comfortably without needing to save more, as long as investments continue to grow.
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Boyd shares a life-changing experience involving a car accident and the security of having a financial plan in place.
Kaori from Japan shares achieving her financial independence number and leaving a toxic job because of the support from ChooseFI.
"Your most valuable asset is your time."
Anthony shares his wife's journey from burnout to finding career fulfillment while managing finances effectively.
"Take action! Elevate your life."
Sabrina shares her remarkable transition from financial instability to homeownership and effective budgeting strategies.
Discussion of the aggregation of marginal gains — making small improvements consistently to achieve significant results over time.
Resources:
- The Total Money Makeover by Dave Ramsey
- Why You Need a Budget (YNAB)
Terminology:
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- Coast FI: A state where you have enough savings to retire comfortably without needing to save more, as long as your investments continue to grow.
- TSP: Thrift Savings Plan; a retirement savings and investment plan for federal employees.
