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5 episodes with kristy shen
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3 episodes with kristy shen
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3 episodes with kristy shen
2 episodes with kristy shen
2 episodes with kristy shen
2 episodes with kristy shen
Dans ce 105e épisode, je fais la synthèse du livre « Quit Like a Millionaire » de Kristy Shen et Bryce Leung publié en 2019 à partir de cinq éléments clés à retenir : 1. Calculs > Instinct 2. Pas de dettes > Dettes! 3. Expériences > Matériel 4. FNB indiciels > Maison 5. Abondance > Rareté Abonne-toi pour soutenir mon travail et obtenir un épisode supplémentaire chaque mois : https://podcasters.spotify.com/pod/show/financesfondamentales/subscribe Je t'invite aussi à suivre la page Facebook « Finances Fondamentales - éducation et investissement » pour avoir accès à l'image synthèse de l'épisode et pour me poser tes questions. Page Facebook : https://www.facebook.com/profile.php?id=100088196588852 Tu pourras également y consulter l'analyse fondamentale des compagnies de la semaine. Page Instagram du podcast : https://www.instagram.com/finances.fondamentales/?hl=fr Pour contacter Simon-Pierre Gingras, conseiller en sécurité financière et représentant en épargne collective : https://www.roylevesque.ca/ simond.gingras@roylevesque.ca Chaque matin, le balado InfoBref résume l'actualité en 5 minutes: https://spoti.fi/3SiIdme L'infolettre qui donne l'essentiel des nouvelles en 5 minutes: https://infobref.com/ff Gmail: Financesfondamentales@gmail.com Clause de non-responsabilité Investir comporte des risques de perte. Ce podcast est uniquement à des fins d'information et ne doit pas être considéré comme un conseil en investissement personnalisé ou être utilisé pour prendre des décisions d'investissement. L'animateur du podcast peut détenir des positions dans les titres discutés. L'animateur du podcast reçoit des paiements de diverses entités pour des publicités. L'inclusion de telles publicités ne constitue ni n'implique une approbation, un parrainage ou une recommandation de ceux-ci, ou toute affiliation avec ceux-ci. Les investissements dans des titres comportent des risques de perte. Toute mention d'un titre particulier et des données de performance associées ne constitue pas une recommandation d'acheter ou de vendre ce titre. Les informations fournies sur le podcast ne sont pas destinées à un investisseur ou à une catégorie d'investisseurs spécifiques et sont fournies uniquement à titre d'information générale. Évidemment, rien sur ce podcast ne doit être considéré comme un conseil financier personnalisé ou une sollicitation d'achat ou de vente de titres. Pour tout conseil spécifique, veuillez consulter un professionnel. L'animateur du podcast ne peut être tenu responsable de vos décisions financières.
Money is a terrible master. It will drive you into the ground if it's running your life. But it's also an amazing servant if you tell it where to go and you understand funds. If you are just dipping your toes into the world of money and you feel intimidated or it feels like it's this hard, weird, complicated thing, I want you to understand first and foremost, that is by design. But honestly, managing your money well isn't really that complicated. I consider it my job to put more money in the hands of more women, I like to deconstruct the scary and make it super simple. In today's episode, I want to share with you the top five books I really think can make a massive difference in your financial journey, and also in helping you create a new relationship to money. Book 1: The Psychology of Money The Psychology of Money by Morgan Housel talks about very specific stocks that you can purchase or decide to invest in through Vanguard. (I am not an affiliate of Vanguard, but everybody that works with me knows I am a huge fan and I am actually invested in my own funds inside of Vanguard). He really breaks down exactly where their money is, how they've decided to divide it up inside of retirement and before they retired. And it's that simple breakdown that makes this book so valuable. The other thing I think you're really going to love about this book is the first opening chapter. It talks about how nobody on this earth decides one day to wake up and mess themselves up financially. So if you've been beating yourself up for where you are financially or judging others, think of family members, spouses, your children, anybody and the way that they're using money, it's probably either a fear they haven't dealt with or something they just don't know. Book 2: Quit Like a Millionaire There are two authors for Quit Like a Millionaire, and they are actually romantic partners, and it's so great to watch their journey. It's Kristy Shen and Bryce Leung now, their journey together, you guys, they started their investment journey right before one of the biggest stock market crashes we've all ever experienced. And I so appreciate her honesty about this journey. These two beautiful humans are part of the fire generation. If you don't know what that means, it stands for Financially Independent Retire Early the fire generation. So what they do is they share how they were able to retire well, in their 30s. And this is not like some crazy scheme. What I appreciate about this book is the practical approach. These are two regular human beings who have figured out exactly how to invest in the market in a healthy, consistent, sustainable way and the sustainable piece, I think, is the most important. This is one book I recommend you get an actual hard copy of in your world, because she goes into great detail about IRS rules and how you can pull out your money without creating taxable events. All legally. Listen in for the rest of my money book recommendations. Let's get to it! Books Mentioned: The Psychology of Money by Morgan Housel Amazon: https://amzn.to/4ecUNi1 Quit Like A Millionaire by Kristy Shen and Bryce Leung Amazon: https://amzn.to/4cNps45 The Soul of Money by Lynne Twist Amazon: https://amzn.to/3TgwDem Profit First by Mike Michalowicz Amazon: https://amzn.to/3Mw09sJ Unshakable by Tony Robbins: https://amzn.to/4g9PSjy The Bogleheads' Guide to Investing Amazon: https://amzn.to/3X9ilNL #FinancialFreedom #MoneyMasteryBooks #SmartInvesting #MoneyWisdom #FinancialSuccess #MoneyMindsetBooks #WealthBuilding You can check out our podcast interviews on YouTube, too! http://bit.ly/YouTubeSWalton Thank you so much for listening. I'm so honored that you're here and would be so grateful if you could leave a quick review on Apple Podcasts by clicking here, scrolling to the bottom, and clicking “Write a review.” Then we'll get to inspire even more people! (If you're not sure how to leave a review, you can watch this quick tutorial.)
We chat with Canada's youngest retirees Kristy Shen and Bryce Leung from the ever-popular website Millennial Revolution. Is FIRE still possible is 2024 with inflation, political unrest, and the fallout of our COVID economy? Kristy and Bryce run the numbers and come up with some interesting conclusions. Learn more about your ad choices. Visit megaphone.fm/adchoices
Kristy Shen and Bryce Leung are the dynamic duo behind the Millennial Revolution blog and movement. In this insightful episode, Kristy and Bryce discuss their journey from house-hunting to achieving Financial Independence (FI) and retiring in their early 30s. They delve into why they chose to reject traditional housing and career advice, their innovative 'POT Score' (Pay Over Tuition) method for evaluating education costs, and how they handle investments to maintain their FI lifestyle—despite new challenges like parenting. Discover their interesting perspectives on scarcity vs. abundance mindset, and how the FIRE approach has impacted their personal lives, relationships, and travel adventures. This episode is packed with financial wisdom and real-life experiences that will inspire late starters and aspiring FI enthusiasts alike.
A Deep Exploration of the FIRE Movement with Leading Experts In Episode 41 of the Inspired Money Podcast, "Financial Independence: Retiring Early and Living Your Dreams" unveils the intricate strategies and philosophies behind achieving financial independence and early retirement, guided by the wisdom of our guest panelists. Empowering Early Retirement At the heart of financial independence lies the powerful concept of retiring early to live your dreams. Aimed at achieving financial freedom and a fulfilling life, this episode gathers a panel of luminaries: Kristy Shen, co-author of "Quit Like a Millionaire," Jordan Grumet, host of Earn & Invest, Chris Mamula, co-author of "Choose FI," and Jacob Lund Fisker, author of "Early Retirement Extreme." Together, they dissect the methodologies and practicalities of building wealth and retiring early.
Is financial independence sustainable? Well...today we talk to Canada's earliest retirees ten years later. Bryce and Kristy from Millennial Revolution join us to talk about how life has changed over the years and the unexpected ups and downs of early retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices
One silver lining of COVID is that it gave me a new appreciation for in-person gatherings. As much as online meetings can help connect when we cannot meet in person, there is nothing that compares to IRL meetings. Last weekend, Michelle and I attended CAMP FI in Florida. There were 80+ FI/RE lovers present at a summer-camp style venue with speakers, break-out sessions, outdoor activities- kayaking, yoga, archery, karaoke and lots of time to have deep intimate conversations. Michelle and I found five unique benefits to this type of IRL meeting with like-minded people: Meeting real-life people rather than listening to internet personasDeepen your interest in FISimilar strugglesInside jokesVenn diagram of interests Show Notes:CampFI Coast FI/Lean FI definitions by Tally.comThe Complete Guide to Chase Ultimate RewardsOutlive: The Science and Art of Longevity by Dr Peter AttiaThe Simple Path to Wealth by JL Collins I Will Teach You To Be Rich by Ramit Sethi Your Money or Your Life by Vicki Robin and Joe DominguezQuit Like a Millionaire by Kristy Shen and Bryce LeungCommunity TimeJess from Oak and Grain Refinishing YoutubeInstagram BWS on Social MediaInstagramTik TokYoutubeAirHelp: Partner For This EpisodeCheck out our partner for this episode, AirHelp. AirHelp is a part of the Association of Passenger Rights Advocates (APRA) whose mission is to promote and protect passengers' rights. Click this link if you've had a cancelled or delayed flight as well as support our podcast: AirHelp Affiliate LinkFind more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!
Hello My Lattes! In this episode, I am so excited to speak with Tessa Waresmith. Tessa achieved the status of millionaire in her 20s. Yes! You read that right. In her 20s! Wanting to maintain this status, she was taught in order to keep her wealth multiplying, she needed to invest. So she retained a friend who was a financial advisor. And lessons were learned but they were not the ones she expected! Join Tessa and myself as we discuss: patreon.com/lattemoneycafe Crypto Job benefits Financial Advisors Annuity Index Funds Quit Like a Millionaire by Kristy Shen , et al. Entrepreneurship Multi-six figure income 9-5 jobs Building wealth Honorable Mentions Founder of Purported Cryptocurrency Company Sentenced Are Benefits More Important Than Salary? 7 Mistakes People Make When Choosing a Financial Advisor Guide to Annuities: What are they? What Are Index Funds? How Do They Work? Making Money while Traveling with Rachel Covert 9–5s Don't Kill Dreams, They Fund Them: Here's Why Follow Tessa here: Website: https://wealthwithtess.com/ Instagram: https://www.instagram.com/wealthwithtess/ FREE SAVVY INVESTOR STARTER PACK LINK: https://www.moneyconfidentcoach.com/savvy?utm_campaign=savvy&utm_medium=share&utm_source=podcast ☕
According to a YouTube TedX talk by Riley Moynes there are four phases of retirement. Today in this rewind episode we talk to Kristy and Bryce from Millennial Revolution about how these phases relate to early retirement and the FIRE Movement. Are the phases the same? Is there stress related to retirement? Learn more about your ad choices. Visit megaphone.fm/adchoices
On board today is Kristy Shen and Bryce Leung from Canada, also known from their popular blog, Millennial Revolution. Here's a quote from our guests, 'Money is the most important thing in the world'. Maybe a bit of a controversial take. Whilst having money is certainly no guarantee of happiness, poverty is sure to make you miserable, and no one knows this better than Kristy, who has seen both ends of the wealth spectrum. Despite growing up in poverty and, at one point, living with her family on 44 cents a day, Kristy Shen, along with her husband Bryce Leung, went on to become self made millionaires at the ripe old age of 31 and 32, going on to retire only a few years later. Now, 40 and 41 Kristy and Bryce have spent the past decade traveling, exploring new cultures, spending time with family and friends, helping others succeed with their financial goals, and expressing their creativity as authors and publishers, both in personal finance, but also, interestingly, with children's books. How did they do it? Well, as students, analyzing potential career paths, they weighed up training costs, effort, and future salaries to work out their optimum return on investment, and the pair both very mindfully chose to work in the developing field of software engineering. Kristy's heritage taught her to avoid debt at all costs, and the importance of a high savings rate. Kristy and Bryce took it to the next level, saving and investing on average 80 percent of their large software engineer incomes over their nine-year working careers. In 2015, they pulled the plug. They retired from their engineering jobs to FIRE and travel the world together. They blog at Millennial Revolution, and have published the book, Quit like a Millionaire, which I found particularly helpful and inspiring on my journey to FIRE. They believe that money is the most important tool we have to improve our quality of life. Kristy and Bryce swear by the numbers which led them to financial freedom and enabled them to pursue their passions for travel, writing, and helping others. Jump on board, this one's a long one but Kristy and Bryce were just so inspiring to chat to!
Thank you to new patron Kathleen Kendrick. Welcome! She will get the limited edition sticker and entry to the drawing for the Goody bag that includes a 2024 Passion Planner and coaching with me, along with a couple of other fun things. PLUS, a wall calendar I designed. Thank you to our existing patrons for believing in our work offline and here in the podcast. This podcast is sponsored by our patrons at Patreon.com/valerieihsan. Become a patron of the arts at Patreon.com/valerieihsan for books, writing instruction, coaching, and planning. Go to Patreon.com/strangeairstories for short stories in the paranormal mystery genre Announcements: Early Bird registration is open for the 2024 Writer Craft Writing Retreat. At this point, there is only four private tickets left and three shared tickets. We'll likely sell out again. I'm in a new anthology by Tsunami Press with my essay "Eye Contact." It's in stores now. You can order at http://www.tsunamibooks.org/shop/pre-order-tsunami-press-first-anthology with free shipping in the U.S. or order wherever books are sold. Season of the Shadow up now! (Erick's new title.) UPDATES: Valerie: doing more life coaching training Thinking about my next campaign for new clients, and the bonus material I'll put together for that. finishing up a course I bought in the summer Show the Fuck Up (on branding). Erick: 48.484K words in Nanowrimo book, taking some unexpected turns; been a great experience. I'M READING: Just finished: Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen and Bryce Leung Woman in Cabin 10 by Ruth Ware Catching the Big Fish by David Lynch Starling House by Alix E. Harrow Up Next: Ma and Me by Putsana Reang Harness: A Systemic Approach: Guaranteed to Revolutionize Your Coaching by Tess Cope Erick's Reading: All the Sinners Bleed by S.A. Cosby Show Notes: Limiting beliefs limits the action steps to success. Perhaps we use our ideals to create them. When you name them, it gives them power. "I'm not good at basketball." "I'm not a morning person." "I can't write short."Add a "yet" to help turn it around. Train your brain to believe whatever. Reframe What's the goal?
In this episode: the power of pursuit, FU money, index investing, investing the difference, and the simple path to wealth. This week we are joined by the godfather of the FI movement himself JL Collins to discuss the themes of his new book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them." While there is no perfect blueprint to mastering your money, there can be confidence and motivation to be found in the stories of others who have been in your position regardless of what part of the path to FI you are on! Though this journey requires you to have to take action and make necessary financial changes, it is never about complexity and deprivation. But rather, this journey is about recognizing the freedoms gained while pursuing FI, not just when you reach your FI goal! The moment you begin to simplify your path to wealth, you will find yourself becoming a stronger and happier individual! JL Collins: Check Out JL's New Book "Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence―And How to Join Them" Website: jlcollinsnh.com Other Book: "The Simple Path to Wealth: Your road map to financial independence and a rich, free life" Timestamps: 1:25 - Introduction 4:27 - The Power Of Pursuit And FI 13:48 - Buying Your Freedom 22:34 - There's No Secret To Money 30:35 - The Power Of Index Investing 43:29 - Spend Less, Avoid Debt, And Invest The Difference 51:27 - Following The Simple Path To Wealth 56:26 - Conclusion Resources Mentioned In Today's Episode: "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung 10 Reasons People Invest in Hedge Funds A Wealth Of Common Sense 32 Things to Know about Following The Simple Path to Wealth Time Machine and the Future Returns for Stocks Subscribe to The FI Weekly! More Helpful Links and FI Resources: Earn $1,050 or more with these 3 Cash Back Cards Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Find a new side hustle with one of our Educational Courses Commission-free investing with M1 Finance
Our guest on the podcast today is author and blogger JL Collins. He blogs about financial independence and other matters at jlcollinsnh.com. JL's first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life, was published in 2016 and has become something of a bible for people in the financial independence movement. His new book is called Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence.BackgroundBioJlcollinsnh.com“JL Collins: The Case for Simplicity,” The Long View podcast, Morningstar.com, April 5, 2022.Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence—And How to Join Them, by JL CollinsThe Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life, by JL CollinsSaving, Spending, and Lifestyle CreepLifestyle Creep: What It Is, How It Works“How ‘Geographic Arbitrage' Can Make You Money,” by Eric Reed, smartasset.com, May 30, 2023.“Why Your House Is a Terrible Investment,” by JL Collins, jlcollinsnh.com, Sept. 22, 2023.“Higher for Longer vs. the Stock Market,” by Ben Carlson, awealthofcommonsense.com, Oct. 3, 2023.Investing“Things Important, and Unimportant,” by JL Collins, jlcollinsnh.com, March 1, 2023.“Stocks—Part XXX: jcollinsnh vs. Vanguard,” by JL Collins, jlcollinsnh.com, Sept. 16, 2023.OtherFI ChautauquaMr. Money MustacheThe Richest Man in Babylon, by George S. ClasonA Wealth of Common SenseQuit Like a Millionaire, by Kristy Shen and Bryce LeungMad Fientist
Không cần phải thắng đậm trên thị trường chứng khoán, không cần phải là người đứng đầu một công ty khởi nghiệp, và cũng không cần đầu tư vào bất động sản; Kristy Shen và Bryce Leung - những người có xuất thân hoàn toàn bình thường - đã trở thành triệu phú khi mới bước sang độ tuổi 30 nhờ một công thức đơn giản mà bất cứ ai cũng có thể áp dụng.Nỗi ám ảnh về tiền bạc, cụ thể là những nỗi lo về sinh hoạt phí, nợ nần, việc nuôi dạy con cái, các khoản tích cóp và đầu tư kiếm thêm thu nhập là mối bận tâm không của riêng ai. Khi phàn nàn về tình hình tài chính, mọi người luôn bào chữa: “Tôi đi vay tiền nhiều quá”, “Tôi đã chọn sai ngành học”, “Đã quá trễ để tôi bắt đầu thay đổi"... Thực chất, chúng ta đều là con người và có thể mắc sai lầm. Nhưng để thành công, ta không thể than vãn “giá như”, mà cần tìm ra giải pháp. Hãy nhớ rằng: “Vấn đề không nằm ở quá khứ, mà là bây giờ chúng ta cần làm gì?”Sách nói Lập Kế Hoạch Quản Lý Tài Chính Cá Nhân trình bày chi tiết những bí quyết để một người hướng tới độc lập về tài chính và nghỉ hưu sớm, từ đó mãi mãi không phải lo lắng về tiền bạc và có thể tận hưởng cuộc sống theo đúng cách mình mong muốn. Dựa trên nền tảng là Quy tắc 4%, sau đó kết hợp với Tư duy Khan hiếm, Đệm đỡ Tiền mặt và Khiên chắn Lợi suất, cuốn sách cung cấp một chiến lược khoa học, đề cao tính ứng dụng đối với mỗi hoàn cảnh khác biệt. Các biểu đồ cụ thể, những công thức rõ ràng và các ví dụ dễ hiểu có trong “Lập kế hoạch quản lý tài chính cá nhân” giúp tất cả mọi người đều có thể tiếp cận với giải pháp của Kristy và Bryce, đồng nghĩa với việc bạn hoàn toàn có thể lặp lại thành công của họ: tự do về tài chính, không còn phải làm công việc mình không yêu thích, nghỉ hưu khi còn trẻ và du lịch khắp nơi trên thế giới - trong khi giá trị tài sản vẫn không ngừng tăng lên nhờ đầu tư đúng cách.Phép toán đã có sẵn, hãy gác lại những nghi ngại và tìm hiểu một hướng đi hoàn toàn mới! --Về Fonos:Fonos là ứng dụng sách nói có bản quyền. Trên ứng dụng Fonos, bạn có thể nghe định dạng sách nói của những cuốn sách nổi tiếng nhất từ các tác giả trong nước và quốc tế. Ngoài ra, bạn được sử dụng miễn phí nội dung Premium khi đăng ký trở thành Hội viên của Fonos: Tóm tắt sách, Ebook, Thiền định, Truyện ngủ, Nhạc chủ đề, Sách nói miễn phí cho Hội viên.--Tải ứng dụng Fonos tại: https://fonos.app.link/tai-fonosTìm hiểu về Fonos: https://fonos.vn/Theo dõi Facebook Fonos: https://www.facebook.com/fonosvietnam/Theo dõi Instagram Fonos: https://www.instagram.com/fonosvietnam/Đọc các bài viết thú vị về sách, tác giả sách, những thông tin hữu ích để phát triển bản thân: http://blog.fonos.vn/
We had our first Patreon book club discussion and it was fantastic!! If you are ready to talk about finances with like-minded people, join the Latte Money Patreon! Another discussion for the remaining half of the book is coming up soon so don't delay. You don't want to miss it. Reading the Patreon book has done what every book should do: it makes you think. And for me, it made me think....Where is my money going!! Join me as I discuss: patreon.com/lattemoneycafe Money Leaks Cleaning Wasting Money Renting vs Buying Second Hand Purchases Being Intentional Athleisure wear Taylor Swift Premium Credit Cards Honorable Mentions Quit Like a Millionaire by Kristy Shen et al 30 Things You're Probably Wasting Money On 10 Most Common Financial Leaks: Plug Them Now! Rent The Runway Primary Motivations for Second-Hand Shopping LuluLemon ☕
According to a YouTube TedX talk by Riley Moynes there are four phases of retirement. Today we talk to Kristy and Bryce from Millennial Revolution about how these phases relate to early retirement and the FIRE Movement. Are the phases the same? Is there stress related to retirement? Learn more about your ad choices. Visit megaphone.fm/adchoices
The value of intentional spending and budgeting in your life Investing: Reasons to start and the ways and resources to make it easierWhy you need to know your finances and create a financial planSignificance of creating boundaries in your personal and professional lifeHow creating a separate debit card manages your spending The Life & Money Show Spotlight:Your Life & Money: What is one thing you're doing to live a meaningful and intentional life by design?Other's Life and Money: What is one life or money hack that you can share that will make an impact in others' lives right now? Life & Money in the World: What's the one thing you're doing right now to make the world a better place? RESOURCES/LINKS MENTIONEDThe Simple Path to Wealth by JL Collins | Kindle and PaperbackQuit Like a Millionaire by Kristy Shen and Bryce Leung | Kindle and PaperbackClever Girl Finance by Bola Sokunbi | Kindle and PaperbackGrow Your Money by Bola Sokunbi | Kindle and PaperbackVanguardInvestopediaMoney Made Easy by Allison Baggerly | Hardcover ABOUT ALLISON BAGGERLYAllison is a blogger, author, speaker, podcaster, and founder of Inspired Budget, a business that teaches women how to budget, make saving second nature and pay off debt. She is motivated to help others when they feel defeated by debt and want to stop living the paycheck-to-paycheck cycle. She is an enthusiastic and positive-minded person who always looks for the silver lining and hopes to encourage others to have the same outlook on life, especially when it comes to their money. A former teacher, Allison blends her talents for teaching with her passion for personal finances to help others learn how to start budgeting and build a life they love. CONNECT WITH ALLISONWebsite: Inspired Budget Podcast: Inspired Budget PodcastInstagram: @inspiredbudget CONNECT WITH USTo connect with Annie and Julie, as well as with other Investing For Good listeners, and to get the latest scoop on new and upcoming episodes, join Life and Money Show Podcast Community on Facebook. To learn more about real estate syndication investment opportunities, join the Goodegg Investor Club. Be sure to also grab your free copy of the Investing For Good book (just pay S&H)-- Thanks for listening, and until next time, keep investing for good!
In this episode: finding purpose, misaligned values, being the product of your environment, the stock market as a source for wealth building, and modern two-player mode. We encourage our listeners that there is no wrong age to start your FI journey, but for those of you starting your FI journey as a young adult, the firehouse of foreign information can feel overwhelming. Sometimes it may even seem as if you're too far behind to even start! The good news is, you're not! Today we are joined by Katie Gatti from Money With Katie to talk about how she navigated FI in her early 20s, and how she used a lack of knowledge as a motivator to get to a place of financial independence. Everybody starts this journey at a different place in their life and no two people are the same. By being patient and finding value in learning something new, you are certain to find yourself more motivated on your FI journey! Katie Gatti Website: moneywithkatie.com Podcast: The Money With Katie Show Twitter: @moneywithkatie Instagram: @moneywithkatie Timestamps 1:36 - Introductions 2:09 - Katie's FI Journey 8:32 - Finding Meaning and Purpose 11:53 - Misaligned Value and Personal Finance 18:58 - Katie's College Decision and Education 25:03 - Forming Yourself as the Product of Your Environment 31:40 - It's Never Too Late For FI 39:03 - The Stock Market as a Means of Wealth Building 49:09 - Modern Two-Player Mode and Setting Financial Expectations 55:41 - Katie Takes The Hot Seat 67:07 - Conclusion Resources Mentioned In Today's Episode Young Money The Mad Fientist Meet the Frugalwoods | Achieving FI Through Simple Living | ChooseFI Ep 65 Paul Merriman Introduces The Ultimate Buy And Hold Portfolio | ChooseFI Ep 130 Paul Merriman | ChooseFI Ep 290 M1 Pies: Level Up Your Dividend Strategy and Optimize Your Portfolio Like a Pro (2022) "Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required" by Kristy Shen and Bryce Leung The Huberman Lab Podcast The BiggerPockets Money Podcast Subscibe to The FI Weekly! More Helpful Links and Resources: Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence Track your personal finances with Personal Capital Keep learning or start a new side hustle with one of our educational courses Slash your cell phone bill without sacrificing service with Mint Mobile
When I did a rent (and invest) vs. buy analysis back in January 2021 with a 2.6% interest rate, the results were pretty neck-and-neck. As rates climbed this year, I figured it would be fun (I'm using the word “fun” loosely) to revisit the exact same scenario with the higher rate. Depressingly, when we recorded this episode just last week, the rate was 5.95%. In the course of a single week, it's now surpassed 7% as of publish (9/27/2022). How have the rates changed the math now and how does one realistically budget for a median home in the US today with 6+% 30-year fixed rates? Let's find out. I'm also joined by Andy Taylor, VP & GM of Credit Karma Home (https://www.creditkarma.com/) to discuss breakeven costs, refinancing, and borrowing against home equity. Episode transcriptions can be found at https://www.podpage.com/money-with-katie-show/. — Mentioned in the Episode Summer 2022 interest rates: https://www.forbes.com/advisor/mortgages/mortgage-rates-08-31-22/ Early 2021 rent vs. buy analysis: https://moneywithkatie.com/blog/when-the-math-supports-buying-your-primary-residence-instead-of-renting "Average net worth of homeowners," from CNBC: https://www.cnbc.com/select/average-net-worth-homeowners-renters Quit Like a Millionaire by Kristy Shen: https://www.penguinrandomhouse.com/books/592323/quit-like-a-millionaire-by-kristy-shen-and-bryce-leung-foreword-by-jl-collins/ Data on home ownership averages: https://www.ngpf.org/blog/economics/qod-how-many-years-has-the-typical-american-homeowner-been-in-their-current-home/ Average median home value, from The Motley Fool: https://www.fool.com/the-ascent/research/average-house-price-state Private mortgage insurance: https://www.investopedia.com/mortgage/insurance/ Average homeowners insurance: https://www.investopedia.com/insurance/homeowners-insurance-guide/ Average property tax rate: https://smartasset.com/taxes/texas-property-tax-calculator#UMznyF9L22 Average mortgage rate for 30-year term: https://www.bankrate.com/mortgages/todays-rates/mortgage-rates-for-monday-july-25-2022/ Amortization calculator: https://www.bankrate.com/mortgages/amortization-calculator/ Paying interest first in mortgage payments: https://www.investopedia.com/ask/answer/07/mortgagepayments.asp Average broker's commission: https://www.ownerly.com/real-estate/average-commission-for-real-estate-agent/ Average closing costs: https://themortgagereports.com/35800/guide-to-mortgage-closing-costs-what-average-mortgage-costs-are-and-how-to-keep-yours-low Average 3% rental increases: https://www.apartmenttherapy.com/average-rent-increase-percentage-268659 IRS Standard Deduction: https://brighttax.com/blog/irs-standard-deduction-expats Rule of 150: https://www.businessinsider.com/renting-versus-buying-a-house-advice-math-rule-2019-9 28/36 Rule: https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp — Follow Along - Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/ - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie - TikTok: https://www.tiktok.com/@moneywithkatie Subscribe to Morning Brew - Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew
In this rewind episode, Bryce Leung and Kristy Shen cofounders of the millennial revolution platform, decided that they no longer wanted to toil away at a stressful, hateful job for 30-40 years, to pay off a massive mortgage, only to die of a heart-attack at their desks or be laid off without a pension.
Our guest on the podcast today is author and blogger JL Collins. He blogs about financial and other matters at JLCollinsnh.com. Collins' first book, The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life was published in 2016 and has been an international best-seller. His latest book is How I Lost Money in Real Estate Before It Was Fashionable. That one came out in 2021.BackgroundBioJLCollinsnh.com The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free LifeHow I Lost Money in Real Estate Before It Was Fashionable: A Cautionary TaleInvesting"Stocks--Part XV: Target Retirement Funds, the Simplest Path to Wealth of All," by JL Collins, jlcollinsnh.com, Dec. 18, 2012.“Stocks—Part XIII: The 4% Rule, Withdrawal Rates and How Much Can I Spend Anyway?" by JL Collins, jlcollinsnh.com, Dec. 7, 2012."The Alfred Hitchcock Path to FI," by JL Collins, jlcollinsnh.com, May 5, 2021."The Trinity Study and Portfolio Success Rates," by Wade Pfau, Forbes, Jan. 16, 2018."Stocks—Part XXVII: Why I Don't Like Dollar Cost Averaging," by JL Collins, jlcollinsnh.com, Nov. 12, 2014.Real Estate"Truly Passive Real Estate Investing," by JL Collins, jlcollinsnh.com, Nov. 28, 2018."Why Your House Is a Terrible Investment," by JL Collins, jlcollinsnh.com, May 29, 2013.OtherThe Psychology of Money, by Morgan Housel Why Does the Stock Market Go Up? Everything You Should Have Been Taught About Investing in School, But Weren't, by Brian FeroldiQuit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, by Kristy Shen and Bryce LeungRich & Regular blogCashing Out: Win the Wealth Game by Walking Away, by Julien and KierstenTaking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan GrumetEarn & Invest podcast
Sammie and Michelle take a look at student loans through Sammie's student loan journey. Sammie shares her plan to pay off her six figure student loan debt. Then they discuss tips for anyone looking to tackle their own student loans. Show Notes:Arthur: "Having fun isn't hard, When you've got a library card.""Jeopardy!' star Matt Amodio breaks $1M mark, the third person in the game show's history" Eminem - Stan (Long Version) ft. DidoPublic Service Loan Forgiveness (PSLF) Public Service Loan Forgiveness: Do You Qualify and Is It Right For You?Federally Qualified Health Centers (FQHC) National Health Service Corps Scholarship Program (NHSC SP)Pumpkin Spice Latte (PSL)Coronavirus Info for Students, Borrowers, and ParentsHow to Calculate Student Loan Interest Public Service Loan Forgiveness CalculatorQuit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen & Bryce LeungChooseFI: 134R | Quit Like A MillionaireReader Case: Going Back To School In His 50's (POT Score)Status Post Adulting Instagram: @statuspostadultingStatus Post Adulting Email: statuspostadulting@gmail.comFind all show notes at statuspostadulting.com
On this episode Hudson is joined by Kristy Shen and Bryce Leung the authors of "Quit Like a Millionaire" as they discuss retiring early, how to travel the world on a budget, and mistakes students make while saving.
In today's episode of Backpacker Radio presented by The Trek, we are bringing you another advice based show. Today's episode is all about how to afford a thru-hike, which includes overall tips for how to budget, how much to budget, what items you can skimp on, what items you should splurge on, tools for automating the process, and much more. We wrap the show with a triple crown of items that we love for less than $25, a wild story about a multi-day grizzly bear attack, and we discuss whether a calendar year triple crown is anti-thetical to the thru-hiking ethos. QOTD: How long is the lifespan of a fly/mosquito? And why aren't dead ones all over the ground? BPR is doing a live podcast at Hop Haus in Fitchburg, Wisconsin from 6:00pm - 8:00pm on Friday, October 15. How to Afford a Thru-Hike ebook by Kelly Floro Tip #1 (Chaunce): Use apps that set aside money for you. Apps mentioned (not sponsored): Qapital Betterment Acorns Wealthfront Tip #2 (Zach): Know what gear to splurge on. Specifically: Footwear Shelter Sleeping bag/quilt Tip #3 (Elise): Leverage the Financial Independence community (and finding your Coast FI number for peace of mind). Some FI resources: The Simple Path to Wealth by JL Collins Quit Like A Millionaire by Kristy Shen and Bryce Leung The Choose FI podcast MoneywithKatie on Instagram Coast FI caclulator Tip #4 (Chaunce): Budget smart while you're actually on trail. Tip #5 (Zach): Know where to skimp on gear. Specifically: Headlamp Base layer Rain gear Water filter Sunglasses And more Tip #6 (Elise): Figure out how much your life actually costs, then figure out how to cut further or earn more. Tip #7 (Chaunce): Take on a side job where all earnings are specifically for thru-hiking. Some ideas: Uber/Lyft Instacart Rover Tip #8 (Zach): Decide how much you think your thru-hike will cost, then add 20%. Tipe #9 (Elise): Surround yourself with people who either support your goals or have similar ones. SEGMENTS Trek Propaganda Colleen Goldhorn's Posts Triple Crown of things to spend $25 on Gross or Not Gross Zach being barefoot on an airplane Mail Bag Cinnamon Court [divider] Check out our sound guy @Paulybooyshallcross. Subscribe to this podcast on iTunes (and please leave us a review)! Find us on Spotify, Stitcher, and Google Play. Support us on Patreon to get bonus content. Advertise on Backpacker Radio Follow The Trek, Chaunce, Badger, and Trail Correspondents on Instagram. Follow The Trek and Chaunce on YouTube. Follow Backpacker Radio on Tik Tok. A super big thank you to our Chuck Norris Award winner(s) from Patreon: Andrew, Jason Lawrence, Christopher Marshburn, Sawyer Products, Brad and Blair (Thirteen Adventures), Brent Stenberg, and Patrick Cianciolo. A big thank you to our Cinnamon Connection Champions from Patreon: Cynthia Voth, Brandon Spilker, Emily Brown, Mitchell, Dcnerdlet, Jeff LaFranier, Peter Ellenberg, Jacob Northrup, Peter Leven, TraskVT, Lindsay Sparks, Liz Seger and Lisa Douglas.
In this episode, I cover the things one should consider to help determine if they should rent or buy. Also, I go over "The Rule of 1.5" to help crunch a fast number to assess renting vs buying situations. P.S. The 1.5 Rule was created by Kristy Shen and Bryce Leung, authors of Quit Like A Millionaire.
I couldn't think of two more different stories: In the recent award winning Nomadland: Fern (played by Frances McDormand) is grieving a life that's been ripped away from her. When the gypsum plant in her Nevada hometowon closes, the town of Empire quite literally closes with it. In six months, its entire zip code is eliminated. Meanwhile, Fern's husband dies, leaving her completely alone and “homeless.” Hitting the road in search of work as a seasonal employee at an Amazon center, Fern starts living in her van, eventually getting involved with a group of modern nomads, although she inevitably ends up alone again, traversing the American landscape. In a completely different world, another set of nomads, Bryce Leung and Kristy Shen cofounders of the millennial revolution platform, decided that they no longer wanted to toil away at a stressful, hateful job for 30-40 years, to pay off a massive mortgage, only to die of a heart-attack at their desks or be laid off without a pension. So instead of drowning in debt to buy a house in one of the most expensive cities in Canada, they rented and invested instead. For Them, Going against the status quo TOTALLY PAID OFF! They managed to build a 7-figure portfolio, which has allowed them to retire in their 30s and travel the world! Two sets of nomads with completely different stories and motivations. Yet, are there similarities? Are there common threads that unite the story of what it means to be homeless in the ever shifting world of today. Bryce Leung and Kristy Shen are the writers behind Millennial revolution, their most recent book is Quit like a millionaire: No gimmicks, luck, or trust fund required! Bryce and Kristy,
Feeling beaten down by work? In this episode, we talk about young adults who crave financial independence and are willing to save and invest aggressively to gain that freedom. Rob and Roma discuss the practicality of the F.I.R.E. (Financial Independence, Retire Early) movement and why it looks more appealing than ever amid COVID-19. Plus, we hear from Kristy Shen and Bryce Leung, a 38-year-old couple that retired a few years ago early and have stayed financially independent, even in the pandemic.
Today's episode begins with a correction from last week. I hope you'll find it "interesting!". But the majority of today's content is inspired in part by Kristy Shen and Bryce Leung's book "Quit Like A Millionaire" where they discuss the mindsets of Hustler, Investor, or Optimizer. Which one are you? Want to be on the show? Email me: EvanThomasBroke@yahoo.com --- Send in a voice message: https://anchor.fm/evan-thomas1/message
About Kristy & Bryce:Kristy Shen and Bryce Leung are world traveling early retirees. Their story has been featured in media outlets all over the world, including the New York Times, CBC, CNBC, Women's Health Magazine Australia, Germany's Handelsblatt, GQ Russia, and the UK's Independent. They spend their time helping people with their finances and realizing their travel dreams on www.millennial-revolution.com.Financial resources:Quit Like a Millionaire (Kristy & Bryce’s book)Little Miss Evil (Kristy & Bryce’s children’s book)www.Millennial-Revolution.com -The 8 Stages of Early Retirement -Investment workshop- online, self-paced, freeHow to Retire in your 30s with $1M in the bank (NY Times)How a 30-something couple got rich and retired by not joining home ownership ‘cult’ (CBC)Playing with Fire (documentary about FIRE)Pat FlynnMr. Money Mustache blogJL Collins blogChautauquaOther:Miracle MorningBook recommendations:The Simple Path to Wealth (JL Collins)Quiet (Susan Cain)American Kingpin (Nick Bilton)
These are the first four books I recommend reading if you want to hit the ground running on your person finance journey. I go over the reasons WHY I loved them and they're so important to read, specifically in this order! Getting started can be overwhelming, but smarter people than I have written handy guides walking you through exactly how to achieve financial independence and retire early. Rich Dad, Poor Dad by Robert T. Kiyosaki: https://amzn.to/2BcVsmL I Will Teach You to Be Rich by Ramit Sethi: https://amzn.to/2Lc0thn A Simple Path to Wealth by J. L. Collins: https://amzn.to/2UnBpqK Quit like a Millionaire by Kristy Shen and Bryce Leung: https://amzn.to/2HCnDeJ Wealthfront: https://wlth.fr/2nxyWgr (Get $5K managed free if you open an investment account.) QUESTIONS/COMMENTS? Leave a voice note to be featured on the show: anchor.fm/millennialmoneyhoney/message --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/millennialmoneyhoney/message Support this podcast: https://anchor.fm/millennialmoneyhoney/support
#42: A big reason why I started HYW was to show how you can “hack systems” in large and small ways – whether related to taxes, travel, real estate, etc – to achieve FI and retire early……and to continue growing wealth even in retirement.That’s probably why many readers are engineers: you likely know a thing or two about hacking / optimizing systems.That’s also probably why there are many ex-engineers in the FIRE community.Today’s guests, who were engineers before early retiring, were one of the first folks in the FIRE community I started following a few years ago.So it’s a real treat to talk with Kristy Shen and Bryce Leung, millennial early retirees who quit well-paying engineering jobs to travel the world, initially, for one year…but decided – after analyzing their spend that year and realizing it cost less to travel than to live in their hometown – to do it for good. (Along the way, they also wrote a popular FIRE blog and best-selling book.)Their story is about applying simple rules of thumb to saving and investing to build a 7-figure portfolio and retire early, then optimizing your investments efficiently to withdraw safely into perpetuity.We discuss:What motivated them to leave well-paying engineering jobsHow they came up with their FIRE number and what they invested inWhy they rebelled against conventional wisdom to buy a homeHow they stayed focused as friends and colleagues upgraded their lifestyles…and how they eventually became the envy of peers back homeWhy their parents objected but eventually came around (and what convinced them)The moment they realized it was cheaper to travel than to stay at homeHow big their portfolio was on the day they retired and how big it is now (after traveling over the years)How they use a “yield shield” to structure their withdrawals so they never have to sell in a down-market (and how long their cash buffer will last)How their mindset shifted from “traveling to consume” to “traveling to learn”How they deal with loneliness when traveling for long stretchesHow they handle health insurance after losing their universal coverageHow getting older and potentially starting a family may change their travel lifestyle in the futureWould you travel long-term – potentially forever – in early retirement? Do you agree with Kristy’s and Bryce’s views on homeownership? What are your reactions to their safe withdrawal strategy (yield shield)? Let me know by leaving a comment!Don't miss an episode, hit that subscribe button...If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!Apple PodcastsSpotifyGoogle PodcastsStitcherI need your help, please leave a listener review :)If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!Links mentioned in this episode:Millennial RevolutionFIRE explained in MandarinKristy's and Bryce's book: Quit Like a MillionaireHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.
“Quit Like a Millionaire” co-author Kristy Shen was interviewed by Acorns and shares her investing lessons she learned after 2008 that helped her retire in her 30s. Maddie + Anthony rejoin the studio and discuss their lives over the past several months. If Biden gets elected should I count on student loan forgiveness (Kaitlyn, Pontiac IL) Why is using the Robinhood app to make money a bad thing (Jennifer, Florence Kentucky) My lease is up soon - how can I renegotiate it (Dolores, Wisconsin) TIP: Order wine online to help support Napa business (Terii, Sonoma CA) Have you changed your mind about travel insurance (Makeen, Louisiana) FIRE dating app to find the savings nut of your dreams. ===== Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
Hello my friends and welcome back to TCO podcast! Today's guest is with personal finance advisor Jolie Viguers. Jolie is the owner of Well Bean Coaching - coaching confidence for financial independence. Check out Jolie's KICKSTARTER Program!During our conversation Jolie and I chatted about:-Financial Independence & the F.I.R.E. Movement-Jolie's personal journey to achieving FI-is the FI movement for everyone & pros and cons of FI-defining our values and spending in alignment with our values-tips for individuals at the beginning of their financial journey-mindset tips and tricks-Jolies favourite financial resources -how to teach children to have a positive relationship with moneyand SO much more!Jolie also answered my three Lightening Round Questions:How do you define success?If you were to be given $10 million dollars tomorrow, what would you do with it?What is one thing that you are grateful for today?CONNECT WITH JOLIE:Well Bean Coaching WebsiteWell Bean Coaching on InstagramMENTIONED:Playing With FIRE (Documentary)Budget Bytes Website Millenial Revolution WebsiteBOOKS:Your Money Or Your Life by Vicki RobinQuit Like A Millionaire by Kristy Shen & Bryce LeungWork Optional by Tanja HesterThe Latte Factor by David BachWealthing Like Rabbits by Robert BrownWomen With Money by Jean ChatzkyADDITIONAL RESOURCES (courtesy of Jolie):ChooseFI PodcastExplore FI Canada Website"Our fulfillment as human beings lies not in our jobs but in the whole picture of our lives - in our inner sense of what life is about, our connectedness with others, and our yearning for meaning and purpose." -Vicki RobinThe Curious One Podcast Website
Since this week’s episode featured another guest who was able to achieve F.I.R.E. in his 30s, I thought it would be a great topic for this week’s Money Minute! Since we are currently in a bear market, similar to the one that happened from 2007-2009, this is actually the best time to build wealth. From all the guests I’ve had on my show, that’s how they were able to achieve financial independence and retire early…they invested during the last recession and reaped the rewards. If you have dreams of reaching financial independence, a great first step is to pick up one of these great books: Financial Freedom by Grant Sabatier Your Money or Your Life by Vicki Robin Quit Like a Millionaire by Kristy Shen and Bryce Leung Work Optional by Tanja Hester The Simple Path to Wealth by J.L. Collins How to Retire Early by Robert and Robin Charlton Millionaire Teacher by Andrew Hallam Since we’re all being told to practice social distancing, that doesn’t mean you have to stop talking to people! Make sure to join my Facebook group and join in the conversation: https://jessicamoorhouse.com/facebookgroup
Episode Notes: Joining me today are two people whose accomplishments I admire and respect. Kristy Shen and Bryce Leung are ex-software engineers from Toronto who achieved financial freedom and retired early in their 30’s to travel the world. They are the writers behind Millennial Revolution, an educational blog on investing strategies and world travels. They are also authors of a newly released personal finance book “Quit like a Millionaire.” Kristy and Bryce share lessons learned from their FIRE journey, their travel experiences in the Galapagos Islands and what it means to leave a legacy. Thanks for tuning in and enjoy the show! On this episode we covered: Their backstory of discovering FIRE while working full time in Toronto How home country or home city bias prevent people from pursuing a better life The underrated and best value-for-money travel spots around the world The awesome country that’s cheekily named the “G-spot of Europe.” The importance of travel for motivation and rejuvenation The three biggest costs people need to optimize How to save money while travelling abroad How to use a VPN to save money on airline tickets Travelling around the Galapagos Islands Why the Galapagos Islands is such a special place The mindset to overcome financial obstacles and setbacks The importance of meeting mentors and like-minded partners to reach FI The Chautauqua FIRE Retreat and what a day looks like And much more! Resources Mentioned: Chautauqua Financial Retreat - https://www.fichautauqua.com “Quit Like a Millionaire” by Kristy Shen & Bryce Leung (Amazon Affiliate Link) Where to find Kristy and Bryce: Website: https://www.millennial-revolution.com Email: firecracker.revolution@gmail.com Follow Gary on IG: https://www.instagram.com/viajeroclub/ Join the Facebook Community : https://www.facebook.com/groups/407928276427355 Show notes can also be found here: https://viajeroclub.com/pages/e13 If you enjoyed this episode, please don’t forget to hit Subscribe and leave us a review! Give a rating and review here!
Kristy Shen and Bryce Leung are co-founders of Millenial Revolution, a platform dedicated to helping people find financial freedom and let them retire early – Financial Independence Retire Early (FIRE) Movement. They went against the status quo and managed to build a 7-figure portfolio, which allowed them to retire in their 30s and travel the world! During the episode, Kristy and Bryce give us a better understanding of the benefits of the FIRE movement and the Nomad movement. They share their own experiences and learning while on their nomad journey. They also share a ton of powerful points about becoming financially free and finding true happiness. Links: Website: Millennial-Revolution.com Book: Quit Like a Millionaire Conference: NomadSummit.com Youtube: YouTube.com/NomadSummit Sponsor: Global Pass: Coworker.com/Pass Time Stamps: 02:23 – “It’s more about how to turn your money into a passive income stream” - Bryce Leung 02:29 – What does passive income mean? 03:36 – How they started the FIRE and Nomad Movement 11:42 – How much is needed to become financially independent? 12:35 – Advantages of combining both FIRE and Nomad Movement 16:04 – “You don’t need to start your own online business to become a digital nomad” - Bryce Leung 17:20 – Enjoying your life NOW 18:54 – “Now that we actually live this life, traveling the world, our health improved dramatically” – Kristy Shen 21:17 – Expenses in Toronto vs. Chiang Mai 22:42 – The downside of owning so much stuff 23:28 – “You don’t need to own a lot of things to be happy; it’s the experience that makes you happy” – Kristy Shen 33:15 – Why is it advisable to travel light? 38:08 – What can the FIRE community learn from the nomad community? 52:34 – Discovering Georgia 54:26 – What can the nomad community learn from the FIRE community? 54:28 – “It’s not enough to earn money; you have to have a strategy on what to do about it” - Bryce Leung 1:03:21 – The Immigrant Rebound Effect 1:08:30 – What is the recipe for happiness? Enjoyed this episode? Share it with friends!
Terveiset Tampereelta. Nuori2020 tapahtumassa oli myös bloggari, varallisuusvalmentaja ja asuntosijoittaja Nina Nordlund. Ninan kanssa keskusteltiin hetki yksilötaloudesta ja sen hallinnasta. Miten motivoitua säästämään? Miten opettaa lapsille ja nuorille taloustaitoja? Aktiivinen vai passiivinen rahasto? Ninan kirjasuositukset: Kortinvartija – Kyösti Hagert, Pauliina Jokinen Rikas isä, Köyhä isä – Robert T. Kiyosaki Quit like a millionair -Kristy Shen https://www.nextory.fi/
#236: Kristy Shen and Bryce Leung achieved financial independence four years ago at age 31 and 32. They saved $1 million and live on $40,000 per year while traveling the world. Kristy and Bryce don’t worry about running out of money, they created new identities after quitting their jobs, and their community has quadrupled in size. Here’s how they achieved this lifestyle. For more information, visit the show notes at https://affordanything.com/episode236
The His & Her Money Show: Managing Money, Marriage, and Everything In Between
When it comes to becoming a millionaire, most of us think it’s possible only under a few circumstances: You own a really big business or create a super successful product You win the lottery You have a very, very rich family But Bryce Leung and Kristy Shen didn’t fall into any of those categories. Kristy had moved to the middle class from poverty. Bryce was a middle-class engineer who was trying to move up the ranks of what he thought was the American dream. Both Kristy and Bryce were just a middle-class couple who had enough of the rat race...and they became millionaires and retired. Did we mention that they were only in their 30’s? WHAT YOU WILL LEARN How did this couple come up with the idea that they could become millionaires? Christy’s journey from living on 44 cents per day in China to a millionaire The reason Christy decided she had to get out of the rat race and make money a new way The resources Kristy and Bryce used to get started on their journey to a million dollars Why retirement isn’t about age The easy 4% rule that Christy and Bryce suggest to calculate your retirement number Why Bryce chose to invest in index funds as one of his million-dollar strategies Why Bryce and Kristy decided NOT to buy a house as an investment (when everyone else they knew was) How Kristy’s early experiences in poverty were a strength...and liability to a wealth mindset Why the survival mindset helps you survive in the short term but hurts your money in the long term How Kristy and Bryce joined the strengths of their backgrounds to become a wealthy couple Why you must rely on yourself to get your financial freedom How to deal with a saver that starts getting rich The importance of creating your own financial freedom your way Why you can start your path to a million-dollar future today Wealth-hacking habits that will save money without hurting the quality of your life Wealth-hacking habits to make money while you’re traveling Why financial peace of mind is good for your health and society Why Kristy and Bryce are passionate about creating more wealth builders RESOURCES MENTIONED Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required Millennial Revolution (Bryce and Kristy’s blog) Mr. Money Mustache blog Jlcollins Blog
Nick Hopwood, CFP of Peak Wealth Management, host of Finding True Wealth talks about the growing F.I.R.E. discussion/movement (Financial Independence Retire Early) and the book, "Retire Like a Millionaire" by Kristy Shen. In Part 3, we try to figure out if it makes sense to not buy a house and not buy a car. Peak Wealth Management is a full-service Registered Investment Advisor and comprehensive financial planning firm located in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions helping them Retire with Confidence.
This week on the show I am joined by Kristy Shen and Bryce Leung. They are bloggers, and the founders of Millennial Revolution and the authors of Quit Like a Millionaire. We chat about financial independence and how to follow your passion while still paying your bills.
Kristy Shen grew up in abject poverty in rural China where her family lived on $.44 per day. Chronic hunger and worm-infested drinking water were regular parts of her youth. Her husband, Bryce Leung, is also a first generation Canadian, but from a more middle class background. Early in their computer-programming careers, they committed themselves to frugality. In their early-30’s, with millions in the bank, they retired, and now travel the world full-time. Kristy and Bryce are the co-founders of the financial independence blog, Millennial-Revolution.com and co-authors of the book, Quit Like a Millionaire: No Gimmicks, Luck or Trust Fund Required. See their blog here: https://www.millennial-revolution.com/ Give Paul hair and make-up tips here: http://PaulOllinger.com
Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required, is a no-nonsense free guide to growing your wealth, retiring early, and living life on your own terms. Kristy Shen and Bryce Leung retired with a million dollars in their early 30s, and did it without hitting a home run on the stock market, starting the next Snapchat in a garage, or investing in hot real estate. Learn how to cut down on spending without decreasing your quality of life, build a million-dollar portfolio, fortify your investments to survive bear markets and black-swan events, and use the 4 percent rule and the Yield Shield, so you can quit the rat race forever. Not everyone can become an entrepreneur or a real estate baron; the rest of us need the mathematically proven approach to retire decades before 65. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. Connect with me at these places for all my content: https://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://www.stitcher.com/podcast/jill-on-money https://apple.co/2pmVi50 "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Nick Hopwood, CFP of Peak Wealth Management, host of Finding True Wealth talks about the growing F.I.R.E. discussion/movement (Financial Independence Retire Early) and the book, "Retire Like a Millionaire" by Kristy Shen. In Part 2, we try to figure out how an ordinary family of four can live on $40,000 per year. Peak Wealth Management is a full-service Registered Investment Advisor and comprehensive financial planning firm located in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions helping them Retire with Confidence.
Kristy Shen has an amazing story- from growing up in China on $0.44 a day to becoming financially independent at age 31 and traveling non-stop around the world. Kristy writes about money on her site Millennial-Revolution and shares her story in the new book she wrote with her husband called “Quit Like a Millionaire.” In this interview we cover a number of topics that range from her remarkable childhood and the surprising benefits of a scarcity mindset, all the way to analyzing what degree to pursue and her experience with geographic arbitrage. During this episode we enjoyed a Blood Orange Gose by Draught Works- a big thanks to Rae in Missoula for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you. Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Nick Hopwood, CFP of Peak Wealth Management, host of Finding True Wealth talks about the growing F.I.R.E. discussion/movement (Financial Independence Retire Early) and the book, "Retire Like a Millionaire" by Kristy Shen. In Part 1, we review Kristy's story at a high level from the traditional perspective of a CFP. Over the next few weeks, we will cover it in much more detail. Stay tuned! Peak Wealth Management is a full-service Registered Investment Advisor and comprehensive financial planning firm located in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions putting them on a path toward fulfillment and their own definition of true wealth
Anyone who wishes to achieve financial independence needs to start taking the appropriate steps as soon as possible. The earlier in your life you start, the sooner you will reach a point where you no longer need a paycheck. That’s when you know you can retire and start enjoying life full time! There is a growing movement now in the world called FIRE (Financial Independence, Retire Early) that argues against the idea that you can’t or shouldn’t retire before age 65. Its members advocate for an early start towards savings and investment, in order to reach financial independence sooner and retire early. Two of the biggest champions of this movement are Kristy Shen and Bryce Leung, who managed to build a net worth of over $1 million and retire at age 31 to travel the world and live a nomadic lifestyle. That’s why in this episode of the podcast I talk to them about their new book, how it came about, and how you too can quit like a millionaire!
Today we have Kristy and Bryce on the show who are Canada's youngest retirees. Kristy retired at 31 while Bryce was 32, and today I pick their brains on how they pulled it off, how they invest, and how they structured their investment portfolio to ensure that they never run out of money. Kristy and Bryce also just launched a book on how they retired early, and in it they share a repeatable step-by-step plan on how anybody can retire early. It's a very practical book, I really enjoyed it, and wish it was around when I started my FIRE (financial independence, retire early) journey. Their book is called Quit like a Millionaire and I have some copies to give away to you as well. If you want to sign up for free to be entered into the giveaway, just click here and enter your name and email so I know how to reach you if you win. Questions Asked: Tell us your story and how were you able to retire in your early 30s? Tell us about your book. What's it about, who is it for, and how do we Canadians benefit from reading it? What analysis did you guys do to determine if you have enough to retire and won't run out of money? Let's talk about the Trinity Study/4% rule. First, for anybody that hasn't heard of it yet, can you explain what it is? What was your thought process around the 4% rule right before you quit your jobs to give you the courage to do so? (i.e. There are certain caveats, objections, etc. How did you deal with them mentally?) Now that you've been retired for several years, have your thoughts on the 4% rule changed in any way? I recall you guys writing about how you also use the FireCalc or FireSim calculators (which I'm also a big fan of). Can you explain to the listeners what those are and how you used them? These tools let you adjust certain variables. Are there any adjustments that you made that you think would be useful for Canadians to know about when they run their own calculations? (to get more realistic/accurate results) In your retirement, you use what you call “The Yield Shield” strategy. Can you explain what that is to everyone? I got the impression that a lot of the others in the FIRE community who have pulled off an early retirement don't focus on the yield the way that you guys do. The most common strategy seems to be to not focus on yield, and instead just withdraw 3.5-4% of their portfolio per year, by selling off investments when needed, as that's what the Trinity Study proved to be sustainable (If I'm not mistaken, I believe Jim Collins, MMM and Justin do it this way for example). What made you decide to create this Yield Shield strategy instead of just going for the simpler 3.5-4% withdraw rate and not worrying about the yield? To pull off the Yield Shield, you guys chose to invest in a few ETFs that aren't as commonly talked about in the FIRE community. I'd love to get your take on why you chose those specific ETF and their weights: Let's start with REITs. Why was your reasoning for adding these into your portfolio (5% weight)? What made you choose the ETF: XRE to get this coverage? What made you decide to add a Canadian Preferred Shares ETF into your portfolio (20% weight)? What made you choose the ETF: CPD to get this coverage? What about choosing corporate bonds (10% weight) with XCB? Lastly, what made you choose the Canadian Select Dividend (5% weight) with XDV? How did you change your portfolio from pre-retirement to retirement (if at all)? When did you start making that transition? (i.e. The day you retired, a year before, etc.) Let's say we had a 40% downturn, something like another 2008. What would you do in that situation? Would you still withdraw some of your principal because the 4% rule factors that in? (Your yield would also likely decrease in this scenario so how would you address that?) What changes would you make (if any) within your investments? Your blog Millennial Revolution is easily one of my favorite blogs. How is your book different than the blog, where can everyone go to pick it up, and where can we all learn more from you guys? Links and Resources Mentioned: Quit Like a Millionaire Book Link Book Giveaway Top ETF Guide for Canadians (sign up for free at buildwealthcanada.ca/eq and send any email from EQ to bonus@buildwealthcanada.ca) Michael Kitces and Mad Fientist Podcast Episode on 4% Rule Our Favourite Retirement Calculators: FireCalc FireSIM Yield Shield Article
S4 E41: In this episode meet Danielle Weisberg and Carly Zakin, authors of HOW TO SKIMM YOUR LIFE; Kristy Shen, co-author of QUIT LIKE A MILLIONAIRE; and Summer Rayne Oakes, author of HOW TO MAKE A PLANT LOVE YOU. With topics like making day-to-day tasks easier, learning about money, and caring for plants, these books were inspired by these women’s desire to help others. Plus, discover which author’s dream narrator is Lorelei King—the voice behind Stephanie Plum. How to Skimm Your Life by The Skimm: https://www.penguinrandomhouseaudio.com/book/606226/how-to-skimm-your-life/ Quit Like a Millionaire by Kristy Shen, Bryce Leung and JL Collins: https://www.penguinrandomhouseaudio.com/book/592323/quit-like-a-millionaire/ How to Make a Plant Love You by Summer Rayne Oakes: https://www.penguinrandomhouseaudio.com/book/599282/how-to-make-a-plant-love-you/
Kristy Shen and Bryce Leung left their lucrative software engineering careers to enjoy world travel and freedom. Both retired in their early 30’s with a 7-figure portfolio and have complied their secrets to success in their new book Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required. Kristy and Bryce are financially independent, self-made millionaires who hail from humble beginnings and learned along their journey how to follow the money so they could afford to pursue their passions. In this episode we discuss: How Kristy went from surviving off 44 cents a day to a 7-figure portfolio. How you can use CRAP (Creativity, Resilience, Adaptability, and Perseverance) to achieve success. How to cut expenses from your budget so you can maximize your income and minimize waste. How to choose your degree and career based on the math. Why your home is not an investment and how avoiding home-ownership helps you achieve financial independence sooner. Why taxes are for the poor and how to win the tax game. Kristy and Bryce’s book is out and you can get your own copy here. On their website Kristy and Bryce also offer a free investing workshop. Check it out to start investing now! Enter for a chance to win a copy of the book by going to JourneytoLaunch.com/win and entering your name & email only! Even if you don't win, you will still win by getting access to my free resource library. Doors for the Launch Club re-open in August, click here to get on the list and get access to join before anyone else. Other related blog posts/links mentioned in this episode: Join The Weekly Newsletter List Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast! Watch me on News12 Watch my latest segments on News12 YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link. Connect with Kristy & Bryce: Website Facebook:@MillennialRevolutionBlog Twitter:@FIRECracker_Rev Connect with me: Instagram: @journeytolaunch Twitter: @JourneyToLaunch Facebook: Journey To Launch Join the private Facebook Group Become a member of the Journeyer Launch Club
As Canadians, do we need to buy a house, stick to the same career, and only travel during our few weeks of vacation? Or could we shun homeownership while investing the majority of our income, to retire early and travel the world? Kristy Shen and Bryce Leung from Millenial Revolution were able to quit their jobs and now live in countries where the cost of living is less than the dividends they earn from their portfolio. They join the show to help dispel the myths around this type of lifestyle. You can find the show notes for this episode at https://maplemoney.com/kristybryce Have you checked out our sponsor Borrowell's mobile app? It makes checking your financial health even easier. The app includes Molly, Canadaís first AI-powered Credit Coach, who will make it easy to understand your credit score and give you great tips and product recommendations. To sign up, go to https://maplemoney.com/borrowell
http://www.alainguillot.com/075-quit-like-a-millionaire/ This is my second interview with Kristy Shen, Bryce Leun, from the website Millennial Revolution. The first time was Episode #19 when they accepted an interview with me in spite of me being a brand new podcaster. Kristy realized she didn't want to follow the typical path of working until age 65 when she saw one of her colleagues collapsing our of work-stress. Also, she was told that as a grown up, she was supposed to buy a house, because that's what adult people do. But she was priced out of the market and she realized that all the sacrifices she would have to make, didn't make financial sense. Instead, she decided to put all her savings in index funds. After doing some adjustments in her life, getting into a career which had a high return for her investment, living frugally, and investing her savings, she was able to return at age 31. Now, Kristy and Bryce, spend their lives traveling the world and they have discovered that they spend less money while traveling than living their former high-cost city of Toronto. The amazing thing is that while traveling and discovering the world, the portfolio has continued growing and now they have more money than when they started their never-ending vacation.
Visit stuschaefer.com for complete show notes of every podcast episode: Leave us a rating and review! Kristy and Bryce are world-traveling early retirees. They used to live in one of the most expensive cities in Canada, but instead of drowning in debt, they rejected home ownership. What resulted was a 7-figure portfolio, which has allowed them to retire in their 30s and travel the world. Their story has been featured in media outlets all over the world, including New York Times, CBC, CNBC, Women’s Health Magazine Australia, Germany’s Handelsblatt, GQ Russia, and the UK Independent. They now spend time helping people with their finances and realizing their travel dreams on www.millennial-revolution.com.
Jesse interview's authors and married couple Kristy Shen, Bryce Leung about their book—available today—Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required. Sign up for a free 34-day trial of YNAB at www.youneedabudget.com
"When we actually retired and we didn’t actually buy a house, that was one of the reasons, because we were able to put our money into the stock market and actually invested and have it pay us money, rather than pay money into a mortgage. That’s just completely mind-blowing for people back. Even my parents were just absolutely disgusted by the fact that I didn’t buy a house, to the point where they’re like – I was like, “Oh, God. I hope they don’t disown me.” We are back in conversation with Kristy Shen, as well as her husband Bryce Leung. Kristy was on So Money a few years back, as I was doing a week-long special on early retirees. Kristy is Canada's youngest retiree ever. She built a 1 million dollar portfolio by the age of 31, and then spent the next few years traveling the world. She and her husband have a new book called Quit Like a Millionaire. In it, she documents her journey from childhood poverty in China to being fully financially independent and a millionaire in her 30s. Kristy and Bryce are part of the FIRE Movement. Heard of that? FIRE stands for Financial Independence Retire Early. Their book is a bold contrarian guide to retiring at any age. They've got a formula to financial independence. No matter where you are, where you're living, how old you are, what your likes and dislikes are, I mean, personally, I don't want to leave New York City, so do they have a plan for me? They do. Learn more about Krisy’s book at www.quitlikeamillionaire.com. Visit her blog at www.millennial-revolution.com. Follow her on Twitter @Firecracker_Rev.
Kristy Shen and Bryce Leung talk about their new book, Quit Like a Millionaire. Plus, Brad and Jonathan give updates on solar panels and YNAB. For more information, visit the show notes at https://choosefi.com/134r
My guests today are two leaders of the FIRE (Financial Independence, Retire Early) movement, and they've written a bold, contrarian guide to retiring at any age. Kristy Shen and Bryce Leung are world travelling early retirees. Their story has been featured in media outlets all over the world, including the New York Times, CBC, CNBC, the Independent. They now spend their time helping people with their finances and realizing their travel dreams. In their book, Kristy and Bryce cover how to cut down on spending without decreasing your quality of life, build a million-dollar portfolio, fortify your investments to survive bear markets and black-swan events, and use the 4 percent rule and the Yield Shield–so you can quit the rat race forever. Here's my conversation with Kristy Shen & Bryce Leung, authors of Quit Like a Millionaire, in episode 427 of Informed Choice Radio.
Kristy Shen grew up poor. Knowing her parents couldn’t help her financially, she gave up her dreams of being a writer, and went to school to make big bucks as a software developer. She even graduated on the five-year program with an internship to...
What is Bryce Leung and Kristy Shen's claim to fame? This couple holds the Canadian record in for retiring at the ripe, young age of 31! A few years into their careers as engineers, they reconsidered their lifestyle and strategically saved more so they could "live the dream" and retire early. So what are they doing now? Fulfilling their dreams in lands less traveled while living off their nest egg. Oh and their blog, Millennial Revolution, is spreading like fire among the F.I.R.E. [Financial Independence Retire Early] Community [bad pun intended]. While early retirement for many may only be a dream, this couple's budgeting and investing tips that can help us all.
http://www.alainguillot.com/millennial-revolution-kristy-shen-and-bryce-leung-interview/ Kristy Shen and Bryce Leung are two Canadians computer engineers who retired at age 31 and decided to go and travel the world. Kristy and Bryce (K-B) broke tradition when they decided NOT to buy an expensive property in Toronto. Instead, they decided to rent, save their money and plan their escape from the drudgery of a 9-to-5, 45-years serfdom. With the money they saved, they managed to build a 7 figure portfolio which they used to leave the rat race and enjoy life while they are still young. Highlights from the interview At the time of the interview, Kristy-Bryce (K-B) were in the Canary Islands (Spain) As Canadians, one of K-B goals is to live one whole year without seeing snow. While living in Toronto, they were under a lot of pressure from family and friends to buy a house, but Kristy noticed her colleagues were under a lot of stress at work just to keep up with the mortgage. At this point, K-B decided to rent and invest instead of buying a house. They decided to invest the money they were setting aside for the down payment of the house. They put their money into low-cost indexes. “I can get myself out of this cubicle jail and don’t have to die at my desk.” We spoke about the insanity of the real estate market in Toronto and how is a trap to keep people enslaved to their jobs. Once the mortgage contract is signed, there is very little possibility to get out. We spoke about how index investing is the best investment alternative for the average Canadian. Bryce learned about index investing by reading academic papers, books such as The Intelligent Investor by Benhamin Graham, blogs such as J. L. Collins. Tips for accumulating a sizable portfolio fast: 1. Pick a career that is a good return on investment. 2. Watch your cost of living. 3. Learn how to invest. Kristie attributes a great part of her success with growing up poor. We spoke about asset allocation. Check out K-B investment workshop. K-B got a contract to write a book. I would love to have another interview when the book comes out. Another book mentioned: New Order. millennial Revolution’s Recommendations Books: The Simple Path to Wealth by J.L. Collins. Blogs: Mr. Money Mustache The Mad Fientis The Escape Artist Podcasts: Chose FI The Mad Fientis
It’s the most wonderful time of the year and I’m not talking about the holidays. We’ve reached that time of year again where I highlight some of the great interviews we’ve had in 2017. It’s tough to narrow it down but we’ve got a great lineup for you. We’re kicking off our year end wraps with some of the best interviews on the topic of retirement, specifically early retirement. Many of you want to know how to get out of the grind wooner than later. We've been fortunate to have some early retirees stop by the podcast to share their insights. This episode features excerpts from:Kristy Shen, Canada's Youngest Retiree from EP 528Grant Sabatier, Millennial Money Founder from EP 618Chris Reining, Early Retiree from EP 661Emily Guy Birken, "End Financial Stress Now" Author from EP 570To learn more visit www.somoneypodcast.com.
We are obsessed with young retirees on So Money. And when I read about today's guest, I booked her immediately. Kristy Shen believes to be Canada's youngest retiree, calling it quits from her 9 to 5, along with her husband Bryce, at 31 years old. Today, they're traveling the world with $1 million in the bank (earning interest). Learn the inner financial workings of their early retirement strategy: how much they saved, how they invested their money and how much they're living of of now...and why they have no plans to ever make more money. For more information visit www.somoneypodcast.com.
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