Financial Independence / Early Retirement

Financial Independence / Early RetirementToward the end of 2015, I asked my private Facebook group about topics that they wanted to hear more about in 2016 and Financial Independence or Early Retirement was something that was near and dear to one of my listeners. So I was thrilled that Brandon from the blog, Mad Fientist , and host of the Financial Independence podcast agreed to join me to discuss this concept. Financial independence is a goal I give to all of my clients; and I hope this episode will motivate you to consider reaching for financial independence as well!Don’t forget to check out Martinis and Your Money’s new sponsor, DIY Fund, and their FREE resources!

What are we drinking?

Brandon—A pint of Guinness from Scotland where he lives right now.

Shannon—A Bud Light

Podcast Summary

Brandon recently guest posted on the Frugalwoods blog about how NOT to pursue financial independence.
After stumbling upon Get Rich Slowly, Brandon learned of financial independence and started his journey towards it.
The wrong way to pursue financial independence is to let it take over your life and keep you from doing things you want to do.
Brandon’s obsession with achieving financial independence made him isolate himself from others and made him miserable.
Brandon’s biggest takeaway of his journey was that he should have been focusing on the present instead of hyper-focusing on his end goal.
A good way for people to think about the financial independence number is 25 X your annual expenses with a 4% withdrawal rate, adjusting for inflation annually and you can read Brandon’s article about this here.
Staying flexible is the key to financial independence.
Most people would say a perfect life is a life where you are not stressed about money and financial independence is that life.
It’s easier to think about what you want to do with the rest of your life at 60 years old instead of 30 years old, but establishing a direction for your life is extremely important.
Don’t be afraid of the hard work that comes with reaching for financial independence and try to enjoy the journey!
There are many other benefits to financial independence that go beyond the financial benefits.
Brandon’s advice to those wanting to pursue financial independence is to realize the power you have with a big savings account and embrace the challenges.

Random Three Questions

What’s your biggest indulgence?
What is your favorite traditional Scottish dish?
What is your favorite book that really helped you on your journey to financial independence?