Fire Drill

Latest Episodes:

Awesome Gift Ideas from the FIRE Community! Dec 26, 2018

Show notes

Christmas is here! How are you celebrating the holidays this year? In this episode Gwen and J give an update on their lives and receive some comments and thoughts from different listeners on giving gifts at Christmas. We hear gift ideas to reduce consumerism, bring more experiences, recycle old gifts and save money when buying. You'll love the amazing ideas some people send us. We also chat about... Gwen getting a job in Washington and moving J's 3 life updates Gift ideas to give more experiences than things How to recycle old gifts Hacking the holiday work schedule Saving money on presents Enjoy this chat with Gwen and J, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode MarketWatch's article on Gwen Episode: How to Create Passive Income from Etsy Digital Products Instant Pot on Amazon Ebates Honey Key takeaways from the chat between Gwen and J 1 - There are huge benefits to living in a city Gwen has been living with her parents for the past 2 months and realises how much she misses the city - she will soon be moving to Washington and be starting a new job. She's very much looking forward to it because big cities offer many more opportunities to try new things, meet new people and save on transport. Gwen and J agree that cities are also great since everything is walking distance, and you're more likely to do something that's 10 min away walking than 10 min away by car. 2 - You don't have to gift 'stuff' this Christmas James tells us he prefers gifting consumables such as wine, food and similar items, since this means the person will enjoy the present and not be amassing more 'stuff'. Jenny also recommends gifting infused liqueur and something simple such as fudge also works great. Joanne prefers gifting activities instead of things; last Christmas she organised a crazy outfits contest! Rachel likes exchanging restaurant deals with her friends. Other gift saving ideas include buying presents on Cyber Monday using cashback deals, contributing money to a 529 or showing younger family members how awesome it is to work in tech! There are amazing gift ideas out there, just need to a bit creative 😉. 3 - Working during the holidays isn't the worst thing ever A listener sends in a suggestion that working during the holidays isn't the worst thing ever; you'll probably get double pay (which is sometimes worth it), and since the office is completely empty it's a great time to focus and get a lot of work done. You're better off taking the holiday when you really need it at a different time of the year - and also when prices will be cheaper and places won't be as crowded! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Accidental FIRE through Entrepreneurship | Kelsey Dixon Dec 19, 2018

Show notes

Ever met someone who was in the FIRE community but didn't know it? Kelsey and her husband started off like many others: a college degree, a job, a house, and so on. But then, Kelsey decided she wanted to try something else and so they went to Seattle, where she started her own digital marketing company and her husband went into carpentry. They then decided to go travelling, starting with New Zealand and then South America, where Kelsey was still working on her business and her husband got started with white water kayaking. A real FIRE adventure! You'll love their inspiring story. We also chat about... Kelsey's journey to entrepreneurshipHow she started her businessHow they survived the first few months without moneyTravelling and living abroadHer long term goals Enjoy this chat with Kelsey, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Kelsey's business: Davies and DixonKelsey on LinkedIn and Instagram Key takeaways from our chat with Kelsey 1 - Exciting things happen when you leave your comfort zone Kelsey wouldn't have been able to do all she did if she hadn't left her comfort zone and gone to Seattle. She had a house, a secure job and was married, but they still decided to change their lives completely and pursue their dreams. Kelsey's husband went into carpentry, and she pursued her dream of building a business with her co-founder. Thanks to this, they were then able to live abroad and travel. 2 - Going online can help your business In order to work on her business while travelling, Kelsey had to move everything online. This meant giving some people in the business senior management positions, making systems more automated and mostly working with online clients. Kelsey says this definitely helped her business grow and helped define the roles between the co-founders. By hiring people who are smarter than her, she was able to separate herself from the business and help it grow. 3 - The power of mentorship Kelsey attributes a lot of her success to having the right mentors, the right people with good advice. She finds people that empower and encourage her, and from the entire spectrum of advice, she takes the best parts and and works with them. Gwen and J talk about the different mentors they encounter at events they go to - a great opportunity to meet interesting people. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Enjoying the Journey to FI in an RV | Joe Jimenez Dec 12, 2018

Show notes

Tired of spending money on rent? How about living in an RV! Joe and his wife have lived in an RV for over 4 years now and are loving every minute of it. They have also been working towards their path to FI, continuously accumulating FU money and allowing them to go travelling, to survive a lay off and for Joe's wife to start her own business. You'll love how inspiring his story is. We also chat about... Building FU moneyLiving in an RV for over 4 yearsJoe's layoffHis future FI goalsThe struggle of not knowing when to quit Enjoy this chat with Joe, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode OnTrajectory toolJoe on Instagram and TwitterBook: The Girl of the Sea of CortezBook: Stuck on an island Book: Sailing the Golden Sea Key takeaways from our chat with Joe 1 - The path to FI has its advantages Thanks to having FU money, Joe was able to survive his lay off even though his wife's business wasn't really making an income yet. He took advantage of his time off to go travelling and help his wife with her business. They had been saving for a few years and this allowed Joe to have more options - even though the lay off came as a surprise! This goes to show how FI is really not just about the number, but really about the journey. 2 - It's all about having your finances in order Joe tells us that companies need to make a profit, and sometimes that means letting employees go - there's not much you can do about it. The only thing you can do is have your finances in order and be ready if something happens. He says this FI lifestyle will give you the flexibility to do whatever works best for you, without having to depend too much on external circumstances. 3 - The 'one more year' struggle Joe could quit his job now if he wanted to and would essentially be Lean FIRE. However, he explains that he is comfortable at his job and is enjoying what he's doing at the moment, and so would rather continue working and accumulate more money just. He talks about how difficult it is leave your comfort zone and quit your job. All this into account, his job gives him a lot of flexibility and allows him to travel and achieve his dreams of hiking and exploring. Once again, if you're enjoying the journey, there's no rush to reach FI sooner 😉 Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

How Tyson Built the FI Tool that Grows With You | OnTrajectory Dec 05, 2018

Show notes

One of the keys to reaching financial independence is having certainty. Tyson created the amazing retirement tool called OnTrajectory, that helps people measure and plan for FI. It's a combination of the complicated financial calculations used by financial advisors with some great analytical visuals. Tyson also tells us his personal FI story and how came to creating such an amazing tool. You'll love his story. We also chat about... How he started programming at 13 The start of his money journey Certainty and electric shocks How he changed his mentality when he had to go to a combat zone The money dummy with OnTrajectory His personal FI story Enjoy this chat with Tyson, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode OnTrajectory tool Youtube videos Key takeaways from our chat with Tyson 1 - You're much better off with certainty One of the reasons Tyson created the tool OnTrajectory was to help people be more certain of their future. He compares this to an experiment done on people using electric shocks; those who didn't know when the electric shock was going to happen were much more stressed than those who did. OnTrajectory is built to help you know when you can quit your job, so you can plan more easily and be less stressed overall. 2 - Sometimes all you need is to face it Tyson thought himself lucky for not being sent into the combat zone - but then he was. Instead of feeling unlucky and sorry for himself he decided to view it from a different angle; not many people get to fly military helicopters in a combat zone, he was defending the rights of humans and would get to tell stories about it. That instant mindset change made him look forward to the war instead of hating every bit of it. Think about it - is there a different angle you could take towards your job? 3 - Listing out possible scenarios can change your life With the OnTrajectory tool you're able to list different scenarios of your life and what could happen - this means being able to plan better and more efficiently. Tyson tells us how the tool allowed somebody to assess whether he could buy a boat and go off sailing - and that's what he ended up doing. Tyson also built this tool with financial independence in the back of his mind, meaning you can see what would happen if you retired very early or later. As he says it, the tool grows with you, as you add different statistics and numbers into it. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Building a Travel Business while on the Road | Andy Steves Nov 28, 2018

Show notes

Have you ever thought of building a business around travel? Andy Steves started his travel business in 2010, giving student tours to exchange students all around Europe. At first he was doing all the manual work himself (tours, guides, etc) but eventually learnt how to scale and grow his business. He currently lives in Medellin, Colombia. You'll love how inspiring his story is. We also chat about... Growing up with a travel lifestyle How he scaled his business His business and personal goals How do find off-the-beaten-path places as a tourist The emotional perspective of working and travelling. Enjoy this chat with Andy, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Rick Steve's Europe Instagram: Andy Steves Travels Website: Andy Steves Book: Andy Steves' Europe: City-Hopping on a Budget Key takeaways from our chat with Andy Steves 1 - Technology has changed the way we travel Andy has been working on his business for 8 years, and he's saying that in the past 2 or 3 years travel has evolved a lot. Now you can book a holiday from your phone, you can easily meet people online and Instagram influences the places we want to go. This is an interesting challenge for his business, that revolves around 3-4 day city trips for students in Europe. He tells us his goals are to turn his website in a type of marketplace, so he can easily adapt his city trips. 2 - Travelling is often cheaper than staying at home This has been repeated on other episodes - meaning that travelling really does not have to be expensive. Andy tells us how cheap it is for him to live in Medellin, Colombia, compared to Seattle. Rent, food and general cost of living is so much cheaper that Andy is not considering living in the US any time soon. He also mentions how important personal interactions are, and that talking to the locals and learning about their culture can go a very long way. 3 - Life is about the opportunities you choose It is true that it's a little strange seeing your friends and acquaintances achieve certain life milestones as you continue down your own path. Gwen explains how she wonders what her life would be like if she stayed in the military, J and her husband could have kept working for the Olympic Committee and gone to Rio, and Andy can see how everyone back home goes on with their own lives'. Although maybe a strange feeling, we all agree it's about the opportunity cost of every decision. At the end of the day it's best if you feel confident about the decisions you take, and accept that your life is about what you choose to do. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Exploring the US with an Airstream | Think Save Retire Nov 21, 2018

Show notes

Is exploring the US by RV one of your dreams? Steve and Courtney retired in their thirties and are now travelling the US with an Airstream. They are both technologists and quit their jobs when they realised the better option was total freedom. They also travel with their two dogs and manage to do some hiking in the most beautiful places in the US. You'll love how inspiring their story is. We also chat about... Reaching FI Their definition of FI Their Airstream Types of US travels Travelling with dogs Enjoy this chat with Steve, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Think Save Retire Blog: A Streamin' Life Course: How to Plan Your Epic RV Adventure Women on the Road with Nicole Handel Nicole Handel's Instagram Youtube: A Streamin' Life Key takeaways from our chat with Steve 1 - Do you actually hate your job, or the jobiness of it? Steve used to work in IT and really didn't like his job. But he tells us that the main reason he hated it was because of the stress, the deadlines, the schedules. So even if he changed job he felt he would find himself in the same situation. For this reason reaching FI and quitting his job is what worked best for him. After saving for 10 years he was in a position to quit and be financially stable. His wife, Courtney, recently quit because she knew she was having more fun travelling than working. 2 - Entrepreneurship isn't always easy 'Find your purpose in life before you quit your job' is a recurrent theme with many interviewees. Steve says this too, explaining that it's important to get a feel of what you want in life before quitting your job. He also admits that entrepreneurship is still stressful and can be difficult in new ways. Although you're working for yourself, you still have bosses (aka your clients). It all really depends on your personality... 3 - Don't buy a new RV! Steve recommends first buying a used RV if it's your first one. As he says, it likely won't be the last one and you need some time figuring out how you like your RV. Buy small and used so you can build up a history of RV characteristics, then when you're ready, you can upgrade. Steve and Courtney currently use an Airstream to travel since they hold their value, everything is self contained and are easier to travel with! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Semi-retired for 2 Decades | Bob Clyatt Nov 14, 2018

Show notes

What are you planning to retire to? Bob has been semi-retired for two decades, and tells us his story of working his tail off and retiring at the age of 42 and immersing himself in art. We talk about how he feels watching his co-workers becoming successful, the importance of giving meaning to your life and market volatility. You'll love his story. We also chat about... How Bob reached FI Doing sculpture once he retired Watching your coworkers be retired The underlying need to make a difference What he feels about the market Enjoy this chat with Bob, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Bob's Blog: Work Less Live More Bob's email: eclyatt@gmail.com Bob's sculpture: Clyatt Sculpture Book: Work Less Live More Blog: Think Save Retire Key takeaways from our chat with Bob 1 - Would you feel remorse if your coworkers became successful and you were at FI? Bob gives us something to think about that you may not have even occurred to you; how will you feel when you see your coworkers getting on with life? Of course, the first year you will feel immense freedom from the rat race. But what about after that? Bob also says it might be harder to have a social life, since everyone else is working. He tells us that it's important to have something to retire to. So you know what you'll be doing after you reach FI. 2 - We all have this need to make a difference Continuing on from the last point, quitting your job means you won't be making a difference in the traditional way. If that's important to you then it's good to be conscious about it. How will you make a difference once you're FIRE? As Bob says, it's the semi-retirees who take on the social and cultural questions, and reaching FI gives you exactly that opportunity. 3 - Art is better when you have a cushion Bob does not regret taking the high paid job path and working his tail off until 42. He knows that it's very hard to earn a living while creating art, and in fact he can enjoy it more when he knows he is financially stable and isn't depending on it for an income. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Living In Costa Rica for A Year | Uncommon Dream Nov 07, 2018

Show notes

Have you ever considered living abroad for a year? Ellen and Michael have lived in Mexico, Ecuador and are now planning to spend a year in Costa Rica. They reached FI at the age of 33, retired at 36, and have two children who have hopes and dreams of becoming bilingual. But they're thinking of starting to work again once their children get older and continue having a flexible lifestyle. You'll love their story! We also chat about... The Cost Rica trip Why Cost Rica Travelling while being vegan Their personal money journey Negotiating with your company How they manage healthcare Enjoy this chat with Ellen and Michael, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Uncommon Dream The Earth Awaits Episode: When is the Right Time to Have Kids? | Financial Samurai Book: The Millionaire Next Door International health insurance: Patriot Travel Medical Insurance Key takeaways from our chat with Ellen and Michael 1 - Travelling abroad can increase your savings rate When Ellen and Michael travel abroad they usually rent out their house on Airbnb and live off the earnings. Since they were going to cheaper countries, they actually managed to live off less and therefore increased their savings rate. Doing this long term can be a great way to save money and accelerate your FI journey! 2 - How to negotiate with your company Michael negotiated with his company to keep doing consulting work but on a much flexible schedule. He arranged a win win situation and was able to be with his family while working. He says the key is simply to ask your manager - and be willing to say no and walk away. If you provide enough value to the company, they will be open to working with you. 3 - A positive overseas health experience Not only did Ellen and Michael have no problem being vegans in countries like Mexico and Ecuador, but they also had an extremely positive experience when things went a bit wrong. Ellen cut her finger and had to go to the emergency room. She was attended immediately and efficiently, and since it was a public hospital she had nothing to pay! Although it was a great experience, the couple will still be taking out an international health insurance just to be on the safe side. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Halloween FIRE Horrors with Gwen & J Oct 31, 2018

Show notes

What are some FIRE horrors and treats you've been experiencing lately? Today we have a special Halloween episode where Gwen and J discuss Gwen's Halloween Heartbreak and some rough times for Gwen as she moves out of Minneapolis and gets back into the corporate world. We also hear some people's FIRE Halloween Horrors and some pretty sweet treats! You'll love the spooky stories! We also chat about... FIRE Breakups Experimenting with freelancing Facebook Live in November Halloween horrors and treats Enjoy this spooky Halloween chat, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Fiery Millennials Millennial Boss Gwen's Instagram and J's Instagram FIREDrill's Facebook Group Chief Mom Officer Breadwinning series Tread Lightly Retire Early Simplistic Steph A Purple Life Oscoey Key takeaways from our Halloween Chat 1 - Entrepreneurship doesn't always work out Gwen tried entrepreneurship and it didn't work out - and that's fine. She decided she would experiment and see how it goes. But after realising that she was putting a ton of effort and wasn't earning much, she decided that it wasn't worth it and is now looking to get back into the corporate world. Gwen says she will save up for a few more years and maybe try it again, with a bigger cushion and maybe a bit more prepared. She says she's learnt a lot about herself and the world, and is at least glad she won't be saying any 'what ifs'. 2 - Halloween Horrors Some people sent in some Halloween FIRE horrors in the Facebook group! Modern Millionaire's horror is getting sick in the future and not having a big enough FI cushion to pay for it. There's also the horror of being scared to quit your job and being miserable - it's important to remember to enjoy the journey when you're reaching FI. Joseph's horror was when he relocated, got laid off, and didn't have much cashflow. Andy Hill lost a lot of money through fees when he invested with front in loads. 3 - Halloween Treats But it's not all depressing! Some great treats this year come from Rachel, who loves saving and watching her net worth go up. Simplistic Steph tells us how well her career is going, and Tread Lightly, Retire Early is excited to finally have access to a 401k. Gwen is also happy to be back with her family for the holidays and some other great messages from people getting matches on their 401ks. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

The Emotional Aspects of FI | DiverseFI Oct 28, 2018

Show notes

Plan A is life. Financial independence in plan B. Do you agree with this statement? Today we have Doc G - a physician who reached FI before realising what he'd done. He then discovered the FI community and now focuses on the philosophical aspect of FI: finding your purpose, the importance of being employed and fulfilling your identity. You'll love his story. We also chat about... The emotional aspect of FI How he reached FI and discovered the community His blogging journey The amazing influence of the community Why he loves what he's currently working on Enjoy this chat with Doc G, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Doc G's blog: DiverseFI Doc G on Facebook and Twitter Episode: White Coat Investor Key takeaways from our chat with Doc G 1 - FI is a huge part of our identity Doc G explains how he felt when he realised he had reached FI: depressed for several months. This was because he realised that he no longer enjoyed his job, and quitting and being FI meant losing that identity as a physician. When you spend years working in one job, of course it becomes part of your identity. Reaching FI and quitting means you lose that identity - which can be very hard to accept. Doc G also explains how FI in itself can also become a huge part of your identity; you can get so involved in the goal that you forget that FI is 'supposed to be a plan B'. 2 - Life is Plan A, FI is Plan B What does Doc G mean when he says this? Basically he means that best case scenario you get a job that you love and want to dedicate your life to. This is what you want to be aiming for. Plan B is FI - if you get a job you dislike and don't want to do forever, then FI is your 'escape hatch'. This is what Doc G is doing now (also called FIOR, Financial Independence Optional Retirement), where he works 10-15 hours a week and devotes all his free time to his passion of writing, communicating and speaking. 3 - The FI community is life changing Anyone who's part of the FI community know how amazingly supportive it is. Doc G and Gwen talk about how they felt always out of place in school, work, college, etc. The FI community is a place where everyone is welcome and extremely supportive, and where people keep pushing you to become a better person, improve your life and lifestyle. As Doc G says, FI is irrelevant if you always know how to make money, what makes the difference is the community. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected