In this episode: FI in your 20s, the boring middle, compounding, fat FI, compounding, checkpoints, and building a life.

This week we are joined by Doug and Carl from the Mile High FI podcast to talk about their respective FI journeys and answer a listener question about pursuing FI in your 20s; as well share some tips for enjoying the experience and navigating times in the journey that can feel a bit slow. While figuring out your FI goal requires you to do some work to figure out your FI number, that number and the steps you take to reach that goal are all unique to the individual. That being said, it can be tricky at times to know if you are on the right track when the journey to FI is different for everyone. Remember, although this journey is about reaching financial independence, it’s also about changing and creating the life you want and joining a community that will always inspire you when times feel slow.

Mile High FI:

Podcast: milehighfi.com
Newsletter: Join the Mile High FI Club

Timestamps:

1:13 - Introduction
2:41 - Analyzing Finances In Your 20s
9:31 - Compounding Power
13:25 - The Boring Middle
21:01 - FI Role Models
26:41 - Building A Life On The Journey
35:01 - Fat FI
45:37 - Saving Versus Life Enhancement
54:21 - FI Checkpoints
57:52 - Conclusion

Resources Mentioned In Today’s Episode:

The Cure for the Boring Middle | Fioneers | ChooseFI Ep 472
Mr Money Mustache
JL Collins
"Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
The Spectrum of Financial Independence and Tools to Track Your Progress with Brad Barrett
Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud | ChooseFI Ep 451
The Stages and Checkpoints of FI | ChooseFI Ep 324
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More Helpful Links and FI Resources:

Top 10 Recommended Travel Rewards Credit Cards
Empower: Free Dashboard to Track Your Finances
CIT Bank Platinum Savings Account
M1 Finance: Commission-Free Investing, 1-click rebalancing
CashFreely: Maximize Your Cash Back Rewards
Travel Freely: Track all your rewards cards and points
Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
Student Loan Planner: Custom Consult (with $100 Discount)

479 | Are You on Track to FI? | FI Roundtable

ChooseFI | Financial Independence Podcast