Our podcast's financial independence starter pack, featuring episodes from Optimal Finance Daily.
What does it mean to be financially independent?
What are some of the things you'd work on if you didn't need to work full-time?
Planning for early retirement is a reality that many people have created for themselves, and you'll learn about the steps they took in these episodes. You'll also hear about the value of intrinsic motivation, mistakes to avoid, and more.
Financial Independence Starter Pack: Podcast Episodes
Here are a selection of episodes covering the topic of FIRE (financial independence, retire early) by some of the world's best personal finance bloggers.
Feel free to select the episode which resonates the most with you, or check them all out to gather the tips you'd most like to apply in your own life!
1. FA Confessions on Financial Independence 101
FA Confessions offers a basic framework for an introduction Financial Independence. The analogy to thinking of FI as a building that needs to be constructed is apt and relatable.
If you're in your thirties or forties, you probably feel a greater sense of urgency towards retirement as compared to your younger days. FA Confessions talks about a middle ground in the second half and how to keep in mind that saving for retirement is a slow, consistent, and long-term process.
2. Chris Reining on Early Retirement
Chris posts an update three years into early retirement. Learn about his thoughts on financial freedom and what he finds deeply satisfying from escaping the rat race.
3. Craig Stephens on The Importance of Job Satisfaction
Craig has made a plan to retire in his mid to late fifties. He shares his thoughts on the importance of job satisfaction and how this improved his quality of life (vs. aiming to escape a miserable career).
4. Phil Town on 5 Financial Freedom Mistakes You Might Be Making
You should leave no stones uncovered when it comes to planning for retirement and financial freedom. Phil Town shares five big lifestyle changes to consider because you don't want to be caught off-guard when it comes to these factors.
5. ESI Money on The Crossover Point
ESI Money named “Your Money or Your Life” by Vicki Robin as one of the best personal finance books of all time. It's even on his list of top five personal finance books. The Crossover Point is a core principle in the book which is now known as financial independence (the book was originally published in 1992). This episode explains what the Crossover Point is and how the the financial community has brought in new concepts to make reaching financial independence more realistic.
6. Chris Reining on Whether Regular People With Boring Jobs Retire Early Too
Do you need to be in a tech or STEM job to be able to retire early? Chris explains how it's about how you handle your money and whether you can live within your means, more so than the amount you actually earn.
7. Flex Cents on Lessons on the Road to FI
Listen to this episode for a reflection by Flex Cents on how he and his wife took their personal finance to the next level. Several simple but bigger transformations helped to enrich their lives on their financial independence journey.
8. The Mad Fientist on a Safe Withdrawal Rate for Early Retirees
How much can you safely withdraw during retirement? Mad Fientist shares his thoughts on whether the 4% rule is indeed safe for a 30-year retirement and what's a good rate to aim for at a minimum, regardless of how long your retirement time horizon is.
9. Tania Brown with Financial Finesses on How To Make Early Retirement A Reality
Tania shares how to create and test drive your retirement budget. Learn tips to lower your expenses and map out your life game plan over the next three decades.
10. Jacob Lund Fisker on How Lack of Intrinsic Motivation Will Destroy Your Early Retirement
Why do you need intrinsic motivation for early retirement? Intrinsic (internal) motivation comes from yourself, while extrinsic (external) motivation comes from external rewards like social approval. Jacob shares his thoughts on how intrinsic motivation helps keep you from being potentially bored and miserable during retirement.
Where Do I Go From Here?
We hope you've enjoyed this financial independence FIRE starter pack.
Let us know which episode or tips were your favorite from this list, and what dreams you have when it comes to being financially free!
Editor's Note: We have six shows in our podcast network to optimize your life in multiple areas (health, personal finance, and more).
To learn more, visit our “start here” page or click on each logo below to learn more about each show!