Link to the Show: 013 – Achieving FI Before 40 Despite Breaking Every Financial “Rule” with Tanja from Our Next Life.
I started listening to the Bigger Pockets Money Podcast towards the beginning of 2020. I listened to this episode again on Sunday June 28, 2020 and wrote up my notes.
The focus of creating this article is to track my thoughts and reviews of each episode. My memory sucks so having a place on this blog to keep my notes was perfect.
Highlights
I like to listen to the full episode and then write what sticks out for me. There is always a lot of useful information and discussion that occurs during the show, but the following bullet points are what sticks out for me.
- Move from LA and purchased a home in a Lake Tahoe.
- Mentioned How to retire early as one book that was influential early.
- They are double income, no kids made their FI easier.
- Index fund investing. Maxing out their 401k to build their wealth.
- Combined finances when they got married.
- Split paycheck to directly deposit into two different accounts.
- Opinion on her side hustle early in life vs her job.
- Technical FI term explanation, timeline. Had a magic number in mind when setting their retirement date.
- How to get your wife on board with FI, show them how they are going to be ok or safe. The plan is how both will be fine no matter what happens.
Famous 4
Question: What is your favorite finance book:
Answer: Your money or your life.
Question: What is the biggest mistake money/finance?
Answer: Bought less crap early in life. Focused on the wrong stuff early in life.
Question: What is your best piece of advise just starting out?
Answer:
Question: What is your favorite joke to tell at parties?
Answer: Observational type, had no joke. Scott field in with the following, What did one ocean say to the other ocean?, nothing it just waved.
Review
Tanja and her husband were both working full time in the political field. They were both bring in over $100 and moved to Lake Tahoe. They also didn’t have kids which also accelerated their wealth building. Friendly voice, and enjoyed listing to her speak.
Early in the interview Tanja mentioned How to Retire Early book but when asked the final 4 mentioned a different book. Your money or your life.