Podcasts about rootofgood

Juan is from Bogota, Colombia. He played tennis all his life, as his dad is a coach back home. In fact, tennis is what enabled Juan to come to the U.S. when he was 18 years of age, to study in college on an athletic scholarship. At the time, Juan spoke no English. He finished college, stayed in the U.S. for grad school, and is now working as a CPA in a tax firm. Tennis brings Juan to the U.S. Juan shares what it took to obtain the athletic scholarship that allowed him to attend college for free in the U.S. He didn’t know much about America when he first arrived in South Carolina. He genuinely felt lost. Juan grew homesick and was not yet fully aware of all the benefits that the U.S. could offer him in the long run. He traveled back to Colombia for frequent visits and, with time, he felt less and less homesick. Learning English When it comes to learning English, Juan initially focused on learning just enough of the language to obtain “pass scores” on standardized tests. After his first semester in college, one of his teachers pulled Juan aside and gave him some tough love. She recognized his potential, and told him that he must take school more seriously. Juan started recording his classes and re-listened to them often to fully grasp the course material. Living all by himself in the middle of South Carolina, in a place where a lot of people didn’t speak Spanish, Juan was quickly forced to assimilate. After his first year in America, his language skills drastically improved. He continues to work on his English to this day. Choosing a career in Finance Juan chose Business Administration as his major. After college he struggled to get a job, so he went directly into graduate school for an MBA. He paid for the MBA with help of academic scholarships, thanks to good grades and a high GMAT score. After graduate school, Juan got a job with PepsiCo. He didn’t find it terribly exciting and later accepted a tennis-related job in Miami. After that opportunity fell apart, Juan moved back to North Carolina with his long-term girlfriend and enrolled for another master’s degree in Accounting. His new degree from a far more prestigious university made it easier to find employment since companies were willing to sponsor his work visa. Juan found a job with a great company and he’s been with them ever since. Discovering the Financial Independence Movement Juan has always been frugal and debt averse. He observed how his wife’s colleagues, who established themselves with great jobs and were being paid higher salaries, were struggling financially and really stressed about money. In 2015, Juan and his girlfriend (now wife) were living on a single income, and it felt like they had a better handle on their personal finance than most working professionals. He started his own website to spread financial literacy. That’s when he learned about Mr. Money Mustache and his MMM blog. The concept of financial independence resonated for Juan and inspired him to supercharge his savings to realize the dream of the “ultimate freedom – time freedom”. Their 10-year plan Juan just turned 30. He is married and raising a year-old daughter. The family of three presently lives in Raleigh, North Carolina. Juan uses his finance and accounting background to be strategic and very specific when it comes to his journey to “financial independence retirement early” (FIRE). On his blog, he shares his family’s 10-year plan, and posts quarterly expense report updates. Their original plan was to save around $60-70K per year, for the next 10 years. After that, using the 4% annual withdrawal rule (he is going with 3.5% to be conservative), they would be able to cover their living expenses. Their goal is to bring $30K of passive income annually, so they are aiming for an $850K portfolio. They invest into index funds due to low costs and their simplicity. Since he instituted his plan, the family went through many changes: they both received promotions at work; they had a daughter and purchased a home. They had to adjust but they are still on track to achieve their objective by the end of 2024. How do they keep expenses low? Housing – live in a relatively smaller place, close to work.  Transportation – minimal driving, buy used cars with cash, bike to work whenever possible.  Food – cook at home vs. eat at restaurants. Go out maybe once a week, so it feels like a special treat. What’s next? Now that Juan and his wife received their Green Cards, it feels like another level of freedom. They can pursue side hustles, which were previously not an option due to work visa restrictions. Long term, their ideal life might be back in Colombia, closer to family and friends. Advice for Fellow Immigrants “If there is a visa restriction, stay competitive: focus on studying and developing skills; bring value to an employer so they are willing to sponsor you” “Stay true to your values, don’t buy into consumerism and keeping up with the Jones’s” From the tax perspective: Know residency rules for tax purposes. Max out 401K to receive a tax deduction. Have an exit plan for your investments, if you might need to leave the U.S. Resources Mentioned Books (affiliate links): Simple Path to Wealth Work Optional Blogs: Mr. Money Mustache https://www.mrmoneymustache.com/  RootofGood https://rootofgood.com/ Mad Fientist https://www.madfientist.com/ GoGurryCraker http://www.gocurrycracker.com/ Millenial Revolution https://www.millennial-revolution.com/ JL Collins https://jlcollinsnh.com/ Podcasts: ChooseFI https://www.choosefi.com/ Afford Anything https://affordanything.com/ Mad Fientist https://www.madfientist.com/ Connect with Juan Website - https://financeclever.com/ Twitter - https://twitter.com/Financeclever Facebook - https://www.facebook.com/financeclever/ Have you joined Boat2Riches Private Facebook Group yet?  You can do that HERE. Come with us to Financial Freedom Summit this Spring!!!! We are glad you are here!

In this legit masterclass on early retirement, Justin from RootofGood.com shares the strategies he used to win the money game and retire at 33. We cover a wide array of topics including tax optimization, doing what you love, and how a family of 5 can live on $40,000 a year. Justin is one of the featured stories in my Financial Freedom book and one of my favorite money bloggers.

Take away: Be intentional in life.   Action step: Where do you want to be in 5 10 20 years - create a plan.   Money Learnings: Justin's family taught him a good bit about money. He grew up a traditional middle class life. His schooling did teach about money.    Bio: At age 33 Justin retired from a career in civil engineering to spend more time with his family and pursue his other interests and hobbies. Justin founded RootofGood.com where he shares advice on reaching financial independence and enjoying the early retired life. After graduating NC State University with degrees in Civil Engineering and Spanish, Justin earned a Doctor of Jurisprudence degree from the School of Law at the University of North Carolina, Chapel Hill.  He lives in Raleigh, North Carolina with his early retired wife, four year old son, and ten and eleven year old daughters.   Highlights from this episode: Richer Soul 77     https://rootofgood.com/ Twitter@RootofGoodBlog https://www.facebook.com/rootofgoodblog/ Richer Soul Life Beyond Money. You got rich, now what? Let's talk about your journey to more a purposeful, intentional, amazing life. Where are you going to go and how are you going to get there? Let's figure that out together. At the core is the financial well being to be able to do what you want, when you want, how you want. It's about personal freedom! Thanks for listening! If you like the show please leave a review on iTunes: http://bit.do/richersoul https://www.facebook.com/richersoul http://richersoul.com/ rocky@richersoul.com Music: https://www.bensound.com Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

Do you tell people that you’re planning for Early Retirement? Justin from http://RootOfGood.com/ joins us to share how discussions of Early Retirement went down with co-workers, family members, friends and in random talks. After losing his job, Justin realized that he could retire a lot sooner than his original plans [...]

Justin from RootofGood.com joins me on the Financial Independence Podcast to talk about how he and his wife saved over a million dollars in under a decade! Highlights: The tax benefits and true costs of children How to have a positive net worth after graduating from college What is interest rate arbitrage How to amass a million dollars in ten years without six-figure salaries Why you should quit your job before you’re actually ready to retire How to easily get $4,500 in free travel To read the full article, visit http://www.madfientist.com/root-of-good-interview/

This is part 2 of the interview with Justin on how he retired at the age of 33. In case you missed it, part 1 is the episode right before this one. In the interview, we talk about everything from how Justin was able to retire at 33, to what he invests in, and we even cover other subjects like how to save money on vacations and how he manages his money so that he never has to work again. Lastly, Justin gives us some great tips that you can start applying today to retire early. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Justin has a great blog at RootofGood.com where he talks more about how he was able to retire early, and gives more details on the strategies he uses.

Today I'm excited to have Justin on the show who actually retired at the age of 33! This is a huge 2 part interview where we talk about everything from how he was able to retire at 33, to what he invests in, and we even cover other subjects like how to save money on vacations and how he manages his money so that he never has to work again. Lastly, Justin gives us some great tips that you can start applying today to retire early. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Justin has a great blog at RootofGood.com where he talks more about how he was able to retire early, and gives more details on the strategies he uses. Questions Covered: Tell us your story and how were you able to retire at 33? How much do you need to make per year to retire? What did you do during the 2008 crash? How did that affect you? You bought a lot of equities during and after the crash, how did you know that it was the right time to buy? What was your asset allocation like before retirement and after retirement? How are you withdrawing your money during retirement so that you don't run out? If you could go back to when you made your first investment, what advice would you give yourself? Are you an index investor, a dividend investor, or do you use another strategy? What would you do differently knowing what you know now? You earned 11 scholarships when you were in school, do you have any tips for students looking to get scholarships? On your blog you also talk about cost saving vacation strategies. Can you give us some tips on that? Is there any other wisdom that you can share so we can all retire earlier?

Imagine retiring at the age of 33, after just 10 years in the workforce. A fantasy you think? Hardly. I interviewed Justin, founder and owner of the blog RootOfGood.com, where he discusses the financial aspects of early retirement, as well as the psychology behind it. This was an enlightening interview on a number of fronts. […] The post DR 166: How a Husband and Father of 3 Retired at Age . . . 33 appeared first on The Dough Roller.