The Journey to Financial Independence with Sam Mellone
It’s July, and because of the July Fourth holiday, I always think about Financial Independence. For the past 15 years of my life, I have coached dozens of individuals to and through Financial Independence, and the biggest factor I see between people who are close to achieving it or have already achieved it is a belief or manifestation in something big. When I say something big, I want to clarify that “big” is a relative term. It’s different for every single one of my clients, but if you are someone living in a scarcity mindset, you will have a difficult time getting to FI, and you may be your biggest roadblock to getting there.
This month, I am going to share three people’s stories with you that will blow your minds. All of them started probably similar to wherever you are now, and within 5-10 years, they have achieved some massive goals, and yes, you heard me right, 5-10 years. FI is not a goal to be achieved overnight, but it’s a goal that, with enough mindset and manifestation, can be accomplished sooner than later. Doesn’t it make sense to work really hard for 5-10 years to have the next 20+ of freedom for yourself? I think so. Joining me today is long-time Financial Gym client Sam Mellone, founder of CoCo Marketing. Sam joins me to discuss her journey from making less than $40,000 a year to the 6-figure business she has built in less than 5 years.
What are we drinking?
Sam – Strawberry Lemonade
Shannon – Black Cherry Schweppes
Podcast Notes
Finding Financial Gym in 2017: While serving as a member of her college alumni board, Sam’s colleague told her about The Financial Gym. Sam knew she had specific financial strengths, like saving, but there was an opportunity for improvement, and she wanted to learn.
First steps: She attended a free event at The Gym and decided to join after a conversation with Alicia. Her first financial plan is dated October 20, 2017. At the time, she was a full-time W2 employee making 60k a year and had a large stash of cash in savings.
Evolving career path: Before making $60,000, Sam’s salary was closer to $28,000. She would freelance on the side and job-hop every so often to increase her salary. Her intention wasn’t to start a business but to become financially independent ASAP.
Lockdown impact: During the first wave of the COVID-19 lockdown, Sam worked at a company that furloughed 90% of its employees. This pushed her to take on more freelance projects, and the business grew organically from there. She officially incorporated four years ago and gets to work with amazing people every day.
Financial foundation: Sam had set a solid financial foundation for herself, allowing her to leap into full-time entrepreneurship. The support of her Financial Trainer helped her along this path, ensuring she was on the right track financially. She set up the business, grew it, and expanded it while doing it in a financially responsible way.
Growth and Financial Independence
Financial independence (FI): Sam is now 1-2 years away from declaring financial independence. This has been seven years of work, with lots of pivots along the way. Having the support of a Trainer through the pivots has been valuable for Sam.
Freedom with FI: On Sam’s first financial plan, ‘Financial independence ASAP’ was one of her long-term goals. She has always craved the freedom that comes with financial independence, and The Gym helped her clarify how to get there.
Future planning: With the support of Financial Gym Advisory Services, Sam continues to refine her financial plans, ensuring they align with her long-term goals and values. She is excited that The Financial Gym is able to manage her wealth and help it continue to grow.
Doing what is best for you: Every journey and financial plan is unique. Sam had a negative experience with her first financial advisor, even though it was a family referral. Every decision we make is nuanced and will have pros and cons, and it’s about doing what is best for you.
Reflecting on Lessons Learned
Mindful spending: Sam has learned to be mindful of her spending by focusing on what brings her joy and value. She’s always loved things like travel more than daily conveniences. Knowing your values helps you be mindful of your spending.
Community and personal growth: As she gets older, investing in community and personal growth has become more important to Sam. For example, She values in-person yoga classes rather than just doing yoga at home.
Mindful shifts: The mindset behind financial decisions is important. Sam and Shannon talk about how making conscious choices and asking the right questions about spending can lead to significant changes in financial habits. It’s about understanding your values and operating in alignment with them.
Continued Journey: Sam reflects on the value of The Gym so far and how excited she is about the future of working with Financial Gym Advisory Services. She notes that the most important part of the journey is to understand big goals, take time to commit to them, and consistently put in the work.
Gratitude and encouragement: Shannon expresses pride in Sam’s journey, highlighting her commitment and excitement to continue their financial journey together. She encourages listeners to stay open to change, remain dedicated to their financial goals, and seek support when they need it.
Takeaway: My biggest takeaway is the importance of pivoting on your journey to Financial Independence. Sam never intended to start a business, but life led her down a path where she could and now she’s just a few years away from FI because she was able to pivot and be flexible.
Random Three Questions
Where is the next big trip?
What is something you love to binge?
If this was your last meal on earth, what would it be?
Connect with Sam Mellone
Website: https://www.communityandcontent.com/
Instagram: @communityandcontent & @thenerdynewyorker
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
As many of you know, other than running this podcast, I’m the founder and CEO of The Financial Gym, and we are celebrating 10 years of this journey. Now more than ever, I see the importance of the work we do every single day. Rising inflation, the return on student loan debt, high-interest rates on loans and mortgages, and volatile stock markets make it a time where, now more than ever, you need a best financial friend to help you make the best choices along the way.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and Retirement. As a reminder, we work with individuals, couples, or business owners.
The exciting news of 2024 is that Financial Gym now has a sister company, FG Advisory Services, available for people looking for more traditional financial advisory services like asset management delivered by a team that looks and behaves nothing like a traditional financial advisory services company. We literally have a solution for you, no matter where you’re starting from. So what are you waiting for? Head over to or send friends to financialgym.com to get started today. Our warm-up calls are free of cost and judgment, so you have nothing to lose.