124R | Your Blueprint To Financial Independence

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124R | Choose FI Your Blueprint to Financial Independence
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.  See our disclosures for more info.

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ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

ChooseFI’s top pick for travel rewards! The Chase Sapphire Preferred Card has a 60,000 point sign-up bonus (after spending $4,000 in the first 3 months). The points are ultra-flexible and transfer to 13 airlines and hotels. $95 annual fee.

Brad and Jonathan discuss the release date of a ChooseFI book, finding the best auto insurance rates, and Lynn Frair’s path to FI.

ChooseFI: Your Blueprint To Financial Independence

The ChooseFI: Your Blueprint to Financial Independence will be released on October 1, 2019. The goal of the book is to outline options for your path FI. Everyone’s journey will be different because the concept of FI is really based on choosing your own adventure. However, there are common threads between all of the success stories. We pull that together so that you can make your own journey a successful one.

Changing the narritive that guides your life then using this new framework to guide your future financial decisions makes Financial Independence achieveable to virtually anyone who chooses to pursue it.

Everyone has their own journey and Chris does an amazing job of recognizing that. With the individual stories from guests, he was able to pull together a blueprint that anyone can learn from at any stage in their journey.

In an article on Can I Retire Yet, Chris talks about why he thinks the book is important. With mainstream media attention on FIRE, it is easy to focus on the strange anecdotes. However, that is not what FIRE is about. Instead, it is able finding value in your life and finding the strength to ignore the rules that society has imposed on us.

When you make your choices based on what you value, then you may be able to add millions of dollars and years of freedom to your life.

It’s not about being a penny pincher or a miser, its about getting value out of your life.

When you make the choice to pursue FI, it might be simple. However, continually making choices that put you on the path to FI are not easy. We hope that the information in this book will help you to optimize your path to FI.

Where To Get Your Copy

Please go ahead and preorder your copy of the book here. With your preorder, you will gain access to exclusive content. Plus, you get to enjoy the book as soon as its out!

How To Get The Best Auto Insurance Rates

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Brad found an opportunity that could save him around 40%. Definitely worth checking out!

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Lynn Frair And Her Path To FI

Lynn Frair and her husband were able to leave full-time work when she reached the ripe old age of 37. Her milestone received some attention in the Wall Street Journal, “How to Thrive in Early Retirement.” At the time of her retirement, she was not aware of the financial independence movement. However, she quickly connected with a trip to Camp Mustache after being compared by a coworker to Mr. Money Mustache.

Where She Started

Back in the day, a 12-year-old Lynn decided that she wanted to pay for college herself. She had a limiting belief that she was not the smartest cookie, but ended up investing her money based on an Albert Einstein quote. Already, Lynn was ahead of her age group.

Once she decided to invest, she took a bus to a “women in business” conference and stood up and asked “At age 12 what should she do with her money?” With the answer of stocks and real estate, she headed over to the bank to start investing in low-cost mutual funds. She also earned a bond as a prize from an essay, writing contest that proved to her that you could buy something in the present that will be worth in the future if you allow it to grow.

Although most 12-year-olds are not ready for the message of investing, she was someone that always planned for the future. Early on, she learned the concept of delayed gratification. Many do not learn this until later, if ever.

College And Beyond

Before college, she started taking college credit classes to get started. With that base, she was able to graduate with a pre-med degree even though she took a year and a half off to travel. Once she graduated, she did a cost-benefit analysis and decided that medical school would not give her the life she wanted.

For the time being, she decided to work for a pharmacy in a leadership position. This gave her the time to think about her future. Once she thought about it, she decided to go into nursing.

Prior to graduation, she approached the manager of an ICU. She asked for a list of things to do before graduation next year in order to land a job in the ICU as a recent graduate. Over the course of the year, she completed the list and then came back to the hiring manager. She got the position as a daytime ICU nurse! That is one way to get a job in your field, just ask what the hiring manager wants from new applicants before you apply. Make that connection and put in the effort, you might be surprised how well it may work out.

That may seem like the end of the story. A bundle of investments from childhood and a solid career as an ICU nurse led to her financial independence. Unfortunately, that was not the case.

Challenges

After working as an ICU nurse for about a year, Lynn started to notice she was very dizzy and her hearing wasn’t right. At first, doctors said it was nothing. However, after scans, doctors found a brain tumor.

Of course, it was an incredibly expensive and physically taxing recovery process, including relearning how to walk, was a setback. Not only were their savings wiped out, but also Lynn was not up to returning to the demanding job of an ICU nurse.

She still wanted to stay in healthcare so she found an admin position in home health that lead to a role in hospice.

When you are truly genuine and kind to people, you never really know how that will be paid forward into the future.

Eventually, she was made the manager of the entire facility. She was referred to the management role by a woman who had worked as a janitor with Lynn in the ICU. They had become friends and now that woman worked directly with the facility management and recommended Lynn for the job. With the trust of staff based on her genuine kindness, she was able to find ways to help improve people’s quality of life in their final days.

Reaching FI In Eight Years

After her recovery from the brain tumor at 29, Lynn was able to rechannel her efforts towards investing and rebuilding her savings. Even in an HCOL with 2 kids, she was able to reach FI with her husband. Now, she just works 22 weeks out of the year.

Without the FI community’s guidance, Lynn was able to reach FI goals on her own. She did not keep track of her savings rate, but she did ensure that they lived beneath their means. Neither her or her husband have extremely high incomes, but they made it work anyways. With those savings, she invested strictly in low-cost index funds. She kept investing through the dips and that really catapulted them to success.

In just 8 short years, the couple was able to leave full-time work in pursuit of a life filled with travel and indoor bouncy house parties with their kids.

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How To Connect With Lynn

You can reach her through her new website, Nurse Numbers. And be sure to check out her very first article: How I Was Arrested By The Early Retirement Police

The Hot Seat

Favorite blog: Paula Pant’s Afford Anything

Favorite article: 20 Brutal Truths about Life that No One Wants to Admit

Favorite life hack: Having an indoor bouncy house for kids. When the seams come apart, just sew it back together with dental floss!

Biggest financial mistake. Going to a private college for her pre-med degree.

Advice you would give your younger self: Try to relax and enjoy where you are now.

Bonus! What is the purchase you’ve made over the last 12 months that has brought the most value to your life? The indoor bouncy castle

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We have found this to be a wonderful investment if you have younger children, a perfect way to entertain, get them exercise and wear them out. It can be used also for smaller birthday parties.

We use it indoor in our loft which has a carpeted floor. When the weather is better, we also use it outdoor and hook up a sprinkler above the slide portion which makes it like a water slide.

Remember the dental floss trick! A couple of minutes with a study needle and dental floss and you are back in jumping action!

-Lynn Frair

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7 thoughts on “124R | Your Blueprint To Financial Independence”

  1. Thanks so much for this episode. I am excited for the book, congratulations!
    I loved your interview with Lynn Frair. Her journey from biology student to RN to ICU nurse is one I can relate to. The use of a mentor to guide Lynn to her jump in employment from new grad to ICU is a time tested way to move ahead in any field. When I was an RN without a bachelor’s degree I interviewed with the director of the graduate program in nurse anesthesia who told me exactly how to become a nurse anesthetist(CRNA). I followed his instructions and within 5 years had completed my advanced degree and doubled my income.
    Now I mentor other nurses who are interested in nurse anesthesia as a career. I love that Lynne and her family are FI and I am thrilled to see more stories from nurses in this space. As caregivers we often need to be reminded to care for ourselves in order to help others effectively. The “FI lifestyle” has enabled me to do just that and this podcast has enriched my day. Thank you.

  2. I’m thrilled that the conversation turned to kindness through the FI lens. The idea that “you never know” where your kindness will lead is true.

    From a young age my Dad and I took care of the neighbor’s house who lived far away most of the year. Dad would sweep their driveway and turn on a lamp so it looked like someone was home. I helped him replace the downspout that rusted.

    Years later, now an adult, when my Dad got sick (with Alzheimer’s) and I had to move back home, these neighbors literally gave me their house. GAVE. “It’s yours,” they said. I couldn’t handle the generosity and wrote them the biggest check I could from my savings account, but, here I am living across the street where I can quite literally keep an eye on my dad, in a beautiful rural area where I grew up.

    I’m in a completely paid off home with property around me, low bills, no more rent. Kindness. Their gift was mostly for the years of kindness that my Dad showed them, but it has changed both our lives and absolutely catapulted me towards FI, when I thought for sure upon his diagnosis that my life was heading in a whole other direction. THANK you Lynn and Choose FI

    • Bri, this literally brought tears to my eyes — what a remarkable, remarkable story. Thank you for leaving this comment, it greatly enriched my life knowing this generosity exists in the world

      • And now I have tears in my eyes as well. Thank you Brad for reading and feeling what I feel. We have created true community.

  3. Jonathan, I think I’m going to need a co-host credit if we keep this up! 🙂 It is great that your guests are giving examples of how the “get any job” thing can work–that’s what I want to know, I hope they keep coming!

    I totally agree with the idea of being kind to everyone. It is just the right thing to do, but I was also a secretary at the start of my career and definitely gave breaks/information to staff members who were nice to me.

    I enjoyed the guest very much, I hope she blogs. Can’t wait to read your book.

  4. Wow!
    I loved being on the podcast, Jonathan and Brad, truly a delight!
    Nancy-I think that is so very wonderful how you have beautifully turned from a mentee to a mentor. I really believe that it does not have to be a zero-sum game and that we can help each other rise and I love that you are doing this!
    Bri-I love your story about this kindness coming full circle, what an incredible story of the beauty that can be out there in the world.
    Alice-Thank you for the kind feedback. I am starting what I call a hesitant blog (insert laughing emoji) because I have been asked several times and have a lot of curious observations and data curation that seem to entertain and/or help people. I hesitate since I don’t particularly enjoy writing, although I love meaningful message creation, so am percolating on how to fill the gap. My blog recently launched at http://www.NurseNumbers.com/blog if you want to subscribe to blog updates, you can do this at http://www.NurseNumbers.com/subscribe

    Thank you all for your kind and meaningful feedback and for all the positive you are putting out there into our world.

    Warmly,
    Lynn Frair (aka Nurse Numbers)

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