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#042 | The Fioneers Interview

#042 | The Fioneers Interview

Fromfriends on FIRE


#042 | The Fioneers Interview

Fromfriends on FIRE

ratings:
Length:
46 minutes
Released:
Jun 8, 2020
Format:
Podcast episode

Description

The Fioneers share a number of great stories and insights:We always like to ask people how they grew up financially.  Corey grew up always hustling and earning money and was focused on what he could buy with money.  He grew up believing money is a tool, not positive or negative, that can be used to get what you want, whether an experience or item.  Jess grew up in a household that rarely had money stress, though she knew her family was pretty frugal.  One thing very formative was when Jess went to college her dad sat her down and gave her two options, both that involved her not getting into debt.  He said she could go to a school with scholarships or get a job to help pay for college.They shared their why for financial independence and how it has evolved over time.  It’s less about retiring early for them, and more about building financial freedom that we can utilize along the way.  They are not in a huge hurry to “retire.”They want the journey to financial independence to be as remarkable as the destination.They are focused on how they can use this financial freedom we gain along the way to live a life that is aligned with our values and our priorities and this vision that we have for our ideal life.Their motivation for financial independence, both a push and pull.  What is it pushing you away from, and what is it pulling you towards?  One of their early motivations was when Jess was working in a toxic job environment.  So at first they were pursuing it to get away from that, and then eventually it was to get towards more freedom.Corey started on this journey about five years earlier than Jess, and over time she slowly came along on the journey.  Jess initially didn’t understand what they were saving money for and wanted to enjoy her life and spend the money she earned.  Jess had a level of guilt about having money, from her childhood and growing up having money and from her international travels and seeing so many people without money.  That perspective has shifted over time.Corey initially excluded himself from being part of this community as he thought he had to have a higher income job than he had.The idea of incremental freedom.  If they saved just a little bit more they could get more freedom and flexibility.The way Corey finally convinced her and got her on board was getting her to read Your Money of Your Life.  From that book she realized there were people making intentional decisions about how to live their lives, and then she also started to learn the mechanics of retirement.They talk about the vacation in the woods of Maine in 2018 when they came up with the idea for the Fioneers. They wanted to Focus more on happiness along the way and they realized there weren’t any voices that had that type of message.  They also share how they landed on the name itself.  They are adventurers and like to explore new things.   Pioneers are the first or trying something new.  They wanted to chronicle the journey they were going on.They heard feedback from others that they pushed themselves so fast and hard they were making themselves miserable in pursuit of this.  They didn’t want that to be them.  They didn’t want to focus just on where they were going but how they would get there, so they termed the coin Slow FI.  It is a happy balance of pursuing it but keeping the end in mind, and it’s not just a financial number.  SlowFI is not a particular number, it is more of a mindset that I’m going to use my financial freedom to help me build a life I love right now.They also popularized the term CoastFI within the FIRE community, which is when you have enough already saved for retirement that it can continue to grow so you can retire comfortably at a traditional retirement age.Their ultimate goal is they get to a place where they can run a location independent business and make enough to cover their cost of living.Jess shared how she started having severe stress and anxiety attacks and ended up taking some time off and then quitting her
Released:
Jun 8, 2020
Format:
Podcast episode

Titles in the series (100)

?On a mission to get friends to talk about money ?Sharing our FIRE journeys, personal finance advice, and frugal tips Hosted by 2 Friends on FIRE - Mike + Maggie **Leave a voicemail or text us at: 404-981-3370**