Financially Naked Update with Will Paybarah
Shannon has done over 400 shows now and many listeners frequently ask about update episodes with past guests. You want to know how they’re doing and what they’ve been up to since they last spoke, so for the month of February, Shannon’s doing just that. She’s checking in with a number of past guests and you are not going to believe what they’ve been up to and where life has taken them since their last episodes.
Joining Shannon today is Will Paybarah. Will is a longtime client of the Financial Gym who got in the financially naked hotseat a few years back and shared that he was planning to buy property. Well, that plan fell through and wait until you hear what he actually did with his money.
Listen to Will’s original financially naked episode here, which aired in December 2019
What are we drinking?
Will - Cold coffee from this morning
Shannon - Black Cherry Schweppes
Podcast Notes
Will’s goals have really evolved since he first started with The Gym.
He joked about quitting his job, buying a van, and doing a cross country trip but didn’t think it was a serious goal.
At the time, he was saving for a house. What seemed like a series of unfortunate events actually turned into a beautiful opportunity to reevaluate that dream goal.
He called his trainer, Jessie, who ran the numbers and determined that Will could buy a van, take the trip, and end up with more money than where he started.
Will and his girlfriend built a custom camper van and spent May through September with their dog on the road.
Will was able to take two negative events and turn it into a positive! He was able to put his wild dream into action with tactical steps and a plan.
They had some unexpected and scary experiences on the road, but he and his girlfriend were able to problem solve and connect on a deeper level and get through them together.
After being laid off from work, he spent some time pivoting and diversifying his skills. He got a job as an app designer. He’s settling into the new role, but already thinking about the next trip!
This new job came with a great pay bump, so let’s get into the numbers:
JOB: New job working as an app designer.
INCOME: $150,000 per year
Freelance: $$ Various amounts of work coming in
ASSETS:
Total Cash: $19,000
Retirement Accounts: $100,000
Assets are up $55,000 since they last spoke!
EXPENSES:
RENT: $1,000 per month
RISK MANAGEMENT:
Will: not yet
Children: Just the two fur babies, one dog and one cat
Goals 1-3 years: Replenish the primary savings accounts, want to be able to take these kinds of trips more often, continue to develop the new career and become more professional with that.
Takeaway: My biggest takeaway is that sometimes life’s disappointments like losing a job or a home are difficult to process, but it could also be a blessing in disguise because the unexpected change gave you the opportunity to imagine an entirely different future and that alternative path may be exactly what you needed to do all along.
Random Three Questions
Where is the second road trip destination?
What is something you like to binge?
If this was your last meal on earth, what would it be?
Connect with Will
Website: http://willtypeforpay.com/
Instagram: @willpay
EMAIL: Hello.WillPay@gmail.com
If you have any topics you would like for me to cover on this podcast or you’d like to get in the financially naked hotseat, I encourage you to email me to shannon@fingyms.com or join the private Martinis and Your Money Facebook Group and let me know what you want to hear.
We’re in a new year and The Financial Gym has so many ways that you can work with us. If you’re looking for a career shift, we’ve started a Financial Trainer Certification program where you can have what I believe is the greatest job in the world. We have online courses for you to learn on your own. If you’re looking for financial products like a new credit card or high yield savings, we have all of our favorite resources on our BFF Approved Products page.
If you want some one-on-one coaching with a compassionate and empathetic person, our financial trainers are here to help you and remember that Martinis and Your Money listeners get 15% off of one on one financial training at The Gym. We’re here to meet you wherever you are on your financial health journey and I hope we’ll see you in 2022.