038R | Firewalker

In today's podcast we discuss Episode 38 The Why of FI plus we announce three of the finalists for the business building competition with Alan Donegan of PopUp Business School and a voicemail from community member Geoff.


In Today’s Podcast we cover:

  • Discussion of Episode 38 on the Why of FI
  • Jonathan’s Frugal Win of the Week at Costco by saving on protein bars
  • Jonathan’s nutrition goals and the underlying concepts of simplicity and removing decision fatigue
  • How unusual it is that the FI community is outside the mainstream by saving money whereas the norm is spending every dollar you have
  • The elevator pitch for Financial Independence
  • Brad believes the psychology behind the Why of FI is more important than the actual numbers
  • Numbers will always be a focus as is saving money, but the psychology is essential
  • How has Jonathan’s focus changed since the beginning of his FI journey and since the beginning of ChooseFI
  • Jonathan has latched onto the ideas of simplicity and happiness
  • The new concept of the FireWalker, as coined by our community member Cody
  • Has Jonathan shifted from being a spender fundamentally?
  • How has the journey impacted Brad?
  • Brad’s thought about community and connection matter more than he even thought
  • The connections that are made possible due to the ChooseFI community
  • Local community meetups and our request for community leaders throughout the country and world
  • Everything is connected with FI as a life optimization strategy
  • Voicemail from Geoff about sequence of return risk and working towards a minimalist lifestyle and how to optimize life
  • What do you have control over? Focus on that
  • Cutting expenses and getting your lifestyle creep under control
  • The 4% rule explained
  • Geoff’s plans for different scenarios and his budgets
  • Geographic arbitrage for moving to low cost of living area
  • Think in advance for different situations you may face in the future
  • Competition with Alan Donegan from PopUp Business School: We play 3 of the finalists that were picked by our panel
  • Giveaway winner for the free Camp ticket in Florida in January
  • Book giveaways
  • Vote for the Plutus Awards to support the many bloggers who are active members of our community

Links from the show:

4 Replies to “038R | Firewalker”

  1. I’m more a logical person than an emotional person. I’m more convinced by a practical argument than an emotional one. As such, I find it harder to use an emotional argument to convince someone of the merits of my position than to use logic. Sorry, but that’s just who I am. I do appreciate the emotional benefits of this FI lifestyle, but to me it is ‘gravy’, not the main course.

    I was so looking forward to using the points in the “Why FI” podcast to introduce this lifestyle to my family and friends. But the approach used in that podcast, a more emotional argument, would not feel right coming from me. To me, those types of arguments sound (and feel) like those cheesy info ads that prey on your emotions, and use anecdotal stories, to try and sell you something.

    I’m looking for a more practical, logical, bullet-list type of argument. I’d be more comfortable using that type of approach with my friends and family. I hope some day you guys can put together a podcast that lays out this type of short, concise, practical argument that I could forward to my circle of friends and family.

    BTW, *I* get it. I understand the emotional ‘win’ this lifestyle provides, I just don’t think it is the way to introduce this way of thinking. The emotional win should come as a nice surprise *after* the logical argument has won you over.

    thx…
    — jcw3rd

    1. Thanks for the comment JC – Check out episode 21 ( the Pillars of FI ) I think this is what you are looking for. We tried to hit it both ways. one of the reasons we made 38 was because the math isn’t enough for most people 🙂 If it were enough to spend less than you earn and invest the difference then a compounding calculator would be all anyone needs but it’s 2017 and the marketing machine has convinced us the Stuff is a good replacement for freedom.
      Here are three resources that I think you will find useful for the logic appeal
      21. The Pillars of FI” target
      022.The True Cost of Car Ownership
      The Shockingly Simple Math of Early retirement

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