ChooseFI Logo

073 | Jamila Souffrant | Fail Forward | Journey to Launch

Jamila Souffrant tells us about college internships, buying real estate right out of college, a few failed business ventures, and her decision to pursue FI, starting by saving $85,000 in the first year.

Check out what we cover today:

  • Jamila is a full-time job, full-time mom, part time podcaster.
  • As the child of an immigrant single-mother, how did Jamila’s childhood experiences impact her college and early professional career?
  • She and her husband saved $85,000 in 2016.
  • Jamila shares what wealth means to her now.
  • Failing Forward: the idea that progress is made, even if when things don’t see to have worked out.
  • Jamila landed a paid college internship that last through all four years of college.
  • What program did she use, and what is the advantage of internship opportunities?
  • How does a paid internship set you up for financial success after college?
  • Hard work, and asking questions helped Jamila move into a job that fit her interests.
  • How did Jamila buy studio apartment in one of the most expensive locations in Brooklyn, right out of college?
  • What happened in her mid-20s that led to Jamila “sleep-walking” through her finances for several years?
  • What was the inspiration for Jamila’s early business ventures and what did she ultimately learn from those failures?
  • In her early 30s, Jamila and her husband made big financial changes in pursuit of financial independence. What ignited the change?
  • What does it mean for Jamila to live her truth, and how do personal finances relate?
  • What steps did Jamila and her husband take to dramatically increase their savings?
  • Pre-tax retirement accounts accumulate savings quickly, and decrease your income, which lowers your taxes – half of Jamila’s 85k savings came in pre-tax accounts.
  • For government employees, the 457 Plan is the fast-track to FI.
  • Getting rid of a mortgage dramatically decreases monthly expenses.
  • Look for opportunities to maximize income, to put toward savings.
  • How and why did Jamila start blogging and podcasting?
  • With two children, and a third on the way, what is Jamila doing now, and how do her family responsibilities impact the financial decisions she’s making?

Jamila Souffrant: Journey to Launch


Mad Fientist

Radical Personal Finance

Millionaire Educator

Rich and Regular

The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?”


Thank you for being a part of the ChooseFI community! If you want to support us, here are some easy ways:

1) Leave an iTunes review:

2) Use our page to sign up for travel credit cards

Note: We may receive a commission if you are approved for cards on this page

3) Most importantly, find your friends, coworkers, and family members who may be open to this message and tell them about the podcast! (Episode 21 is a great starting place)

As Jonathan would say, “The FIRE is spreading my friends!”

Jamila Souffrant | Fail Forward | Journey to Launch
Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.
More To Explore
You Might Be Interested in...
Something New at ChooseFI harnessed the power of AI to provide in-depth transcripts for all ChooseFI podcast episodes. Each section of the transcript is clickable so you can listen to the podcast at exactly the point you’re looking for

Other episodes
Share This Post