From Zero to Hero: A Late Starter’s Guide to the Galaxy | Becky Heptig | 100
Release Date: 10/06/2024
Catching Up to FI
Join hosts Bill and guest Diana Falck as they explore the intersection of community resilience and getting involved. In the wake of a recent crisis in Western North Carolina and East Tennessee, the duo highlights local relief efforts and community collaboration. Then in this special 100th episode, we get back to the basics with a step-by-step guide for late starters on the path to financial independence. Our guest for this special episode is original Catching Up to FI co-host, Becky Heptig! She joins Bill and Jackie as they share insights and guide you through how to get on track with your...
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In the second episode of this special two-part series we continue with our deep dive conversation about Health Savings Accounts (HSAs) with Bill and Jackie, and guest co-host, Jeff York (also known as the Wealthy Custodian from episode & ). We break down in-depth scenarios, including unique contribution rules for domestic partners and adult children, investment strategies, drawdown plans and estate planning considerations. We answer listener questions and share our wish list for HSAs in the future. For this episode we are providing a formal presentation here: ...
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In this special two-part episode we unveil the 'Wealthy Custodian,' Jeff York (from episode & ), and take a deep dive into the world of Health Savings Accounts (HSAs). Jeff joins as co-host along with Bill and Jackie (our HSA Maven) to share how they supersized thier HSAs and discovered how powerful they can be on the path to FI. This comprehensive series starts with Part 1 where we explore tips, tricks, and common misconceptions about HSAs and tackle little known strategies that are rarely discussed. We'll also talk about who should consider a high deductible plan, eligible expenses,...
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This heartfelt episode dives into the incredible story of Krista and Ed. From growing up in poverty to facing financial insecurity as adults, this resilient couple shares their journey of overcoming adversity and finding hope in the FIRE movement. Discover how a deep bond of love, open communication, strategic planning, and an unwavering spirit led them to financial independence. Learn about their pivotal experiences, including a live case study at the EconoMe conference and actionable tips that can help you on your financial journey. Don’t miss their powerful message of never giving up and...
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Former award-winning teacher turned educator on financial literacy and relationships, Brian Page discusses the concept of 'Modern Husbands' and the importance of viewing marriage as a partnership. Learn about his innovative Marriage Toolkit, designed with insights from over 30 experts, and discover practical tips on managing money, home, careers, and family life in the 21st century. From navigating second marriages to conducting effective money dates, this episode is packed with valuable advice for couples looking to achieve financial harmony and a thriving relationship. 🔗 ...
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Join hosts Bill and Jackie as they delve into a profound conversation with Vicki Robin, co-author of 'Your Money or Your Life.' Vicki discusses the concept of 'enoughness' as a spiritual practice and the fulfillment curve, offering insights into how recognizing enough can lead to a more satisfying life. The dialogue covers financial independence, the impact of societal norms, aging, and the emotional aspects of letting go. Explore Vicki's unique perspective on how living simply and investing in community can transform our lives and the world around us. This episode is a rich tapestry of wisdom...
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Join Bill and Jackie in an engaging conversation with Vicki Robin, co-author of the best-selling book 'Your Money or Your Life'. Vicki shares her insightful philosophy on financial independence, community resilience, and the power of frugality. She discusses her journey from active community building to aging with purpose on Whidbey Island, and how she has woven herself into the fabric of her local community. This episode delves into the thought-provoking aspects of spending life energy wisely, the importance of supportive communities, and the meaningful transition of knowledge and...
info_outline Millennial Revolution is in The House! | Kristy Shen, Bryce Leung & Little Matchstick | 93Catching Up to FI
Kristy Shen and Bryce Leung are the dynamic duo behind the Millennial Revolution blog and movement. In this insightful episode, Kristy and Bryce discuss their journey from house-hunting to achieving Financial Independence (FI) and retiring in their early 30s. They delve into why they chose to reject traditional housing and career advice, their innovative 'POT Score' (Pay Over Tuition) method for evaluating education costs, and how they handle investments to maintain their FI lifestyle—despite new challenges like parenting. Discover their interesting perspectives on scarcity vs. abundance...
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Meet Nadia and Nicole, the Wealth Twins! Raised by a single mother in New York City's toughest projects, these twin sisters overcame obstacles to graduate from Columbia University, work on Wall Street, and ultimately achieve early retirement. In this episode, they recount experiences from 9/11 and the 2008 financial crisis, discuss multifamily real estate and dividend investing strategies, and offer practical tips for late financial starters. Learn how they built the Wealth Twins platform to share their knowledge and drive towards financial independence. 🔗 Thank you to our...
info_outline Stacking Washingtons in Joe’s Mom’s Basement and The Efficient Frontier | Joe Saul-Sehy | 091Catching Up to FI
Joe Saul-Sehy of Stacking Benjamins joins the show to discuss financial planning, overcoming debt, and the importance of surrounding yourself with the right people. Joe shares his personal journey of financial mismanagement as a young financial planner, the principles behind the efficient frontier, and his thoughts on target date funds. Tune in to learn and laugh with Joe, Bill, and Jackie. 🔗 Thank you to our sponsors: : Use code CUTOFI to get $30 OFF any course or $100 OFF "Create Your Own Financial Plan" Comprehensive Video Course...
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Join hosts Bill and guest Diana Falck as they explore the intersection of community resilience and getting involved. In the wake of a recent crisis in Western North Carolina and East Tennessee, the duo highlights local relief efforts and community collaboration. Then in this special 100th episode, we get back to the basics with a step-by-step guide for late starters on the path to financial independence. Our guest for this special episode is original Catching Up to FI co-host, Becky Heptig! She joins Bill and Jackie as they share insights and guide you through how to get on track with your finances. They not only share what to do but in what order. It’s hard starting late and feeling like you’ve done everything wrong. The good news is, there is time to catch up and this is the place to start.
Thank you to our sponsors:
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Episodes:
Retiring Before Mom & Dad | Rob Berger | 25
A Hero’s Journey: The Mother of All Case Studies! | Krista and Ed Kim | 97
Enoughness: Your Life or Your Money | Vicki Robin | 95
Doña Quixote, Life Energy, and The Coming of Aging | Vicki Robin | 94
Shocking Simple Math Behind Early Retirementb ~Mr. Money Mustache
The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life ~JL Collins
Ally High Yield Savings Account (4% as of 10/4/24 + $100 Bonus with direct deposit-by 12/31/22024)
Personal Finance Club - example for late starters: https://www.personalfinanceclub.com/is-it-too-late-to-start-to-investing
The Ultimate Investing Checklist: https://www.personalfinanceclub.com/the-ultimate-investing-checklist
Ground Rules according to the Money Guys 2/1/24: https://moneyguy.com/article/foo
🕒 Timestamps/Chapters:
00:00 Call to Action: How You Can Help in the Disaster in North Carolina and Tennessee
05:28 Introduction
07:50 Celebrating 100 Episodes with Becky Heptig
10:52 Why People Get a Late Start in Financial Independence 17:16 Disadvantages of a Late Start
25:26 Advantages of a Late Start
38:01 Financial Order of Operations for Late Starters
44:57 Eliminating Debt: The First Step to Financial Freedom
45:57 Big Picture Wealth Building Strategies
47:27 Calculating Your Net Worth and FI Number
49:32 Increasing Income and Reducing Expenses
51:06 Playing Defense: Insurance and Protection
54:51 Offensive Strategies: Emergency Funds and Employer Matches
01:01:35 Investing Wisely: Roth IRAs, HSAs, and More
01:06:15 Risk Tolerance and Rebalancing Your Portfolio
01:10:02 Maximizing Employer Plans and Mid-Range Debts
01:12:55 Hyperaccumulation and Taxable Brokerage Accounts
01:16:06 Prepaying Future Expenses and College Funding
01:22:57 Reevaluating and Automating Your Financial Plan
01:27:09 Final Thoughts and Encouragement
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