Mega Backdoor Roth & Solo 401k Explained

Our favorite part of the financial independence community is just that, the community. And no one embodies the principle of community better than Matt and Joel. They are also the dynamic duo behind HowToMoney and the How to Money Podcast. We're such huge fans of these guys that we decided to dig into the archives and replay their episode for our listeners who may have missed this one. This fantastic conversation unwraps their backstory and tons of tangible tips on saving money without sacrifice. From groceries to real estate, to building a community for their young families, this episode is great for all audiences. Go give it a listen and let us know what you think! Links from The Episode  Their Website: HowToMoney.com Their Podcast: How To Money Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Scott Trench and the folks at BiggerPockets have made real estate investing much more approachable for a massive amount of people. They've truly built a holistic empire of real estate education. And while we've had Scott on the show before, it was a few years ago, and a lot can change in a few years. In today's episode, we focus on the state of real estate and the economy as a whole. What does Scott think is going to happen over the next 1, 5, or 10 years? Has his real estate investing philosophy changed since the last time we talked? Tune in for the full breakdown and as always, thanks for listening! Links from The Episode Scott's Bigger Pockets Profile Bigger Pockets Money Yardi Multifamily Report Investor Friendly Agents Investor Friendly Lenders YouTube Interview https://youtu.be/1YV1SQ5WslQ Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

When it comes to networking, Mason Miranda is world-class. Within his first year of investing in real estate, he was able to purchase 62 units... with none of his own money. Tune in to hear the tactics and strategies he used to pull this off. And as always, if you enjoyed it, please share this episode with a friend! Links From the Episode Mason's Instagram Mason's Facebook YouTube Interview https://youtu.be/OPtqnFOkoWs?si=B22NwVX2Vjaw_Z0h Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Unfortunately, sometimes it takes a potentially life-altering event to step back and reevaluate your life. For our guest Joel, it was a potentially fatal car crash that his wife was involved in. Luckily she was okay! But it was certainly a wake-up call. After much reflection, they figured out what they truly valued and cut down their monthly expenses by a whopping 70%... Yes, 70%! These changes allowed them to reach financial independence just 4 years later. Our favorite quote was “My worst-case scenario, is everyone else’s everyday scenario”. If you enjoyed this episode, don't forget to share this podcast with a friend! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

What is that one thing you know would make you happy? The problem with that answer, is that often what we know turns out not to be true. We often think we need more (time, things, square footage, vacations, etc). In reality, what we need to be happy is already within reach, the real problem is our mindset or confusion of priorities. Cody and Justin reflect on travels to places where people have so much less material wealth but so much more happiness. They also cover the mental traps around chasing more they've fallen victim to. The warning to the audience is to ensure you don't delay happiness while on your journey to financial independence. Delaying gratification of a purchase may be necessary but you have enough today to be happy...so don't delay your happiness. We're all so incredibly adaptable in both a positive and negative way. Be confident and know that you can make it through life regardless of how abundant your possessions are, but also be careful not to adapt to luxuries so that they no longer become special or meaningful. Thank you all for listening and may this episode help you on your path to a financially independent future. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

When your goal is financial freedom, your tax strategies may look a bit different than the average Joe or Jane. In this episode with Keith from the Wealthy Accountant (originally aired in 2019), we dive into some of the best tax strategies for the FIRE community and how you can benefit. If you enjoyed this episode, don't forget to share this podcast with a friend! Links From the Episode Wealthy Accountant Website Wealthy Accountant Twitter Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

Can you really pursue financial independence at a young age and still live an exciting life? Frivolous hobbies have to take a back seat right? Sean and Alex are living proof that you can indeed build a life full in both riches of money and experience. Justin got introduced to Sean and Alex when they reached out for some financial coaching. It was quickly obvious that this couple had accomplished a ton already and had a massive amount of potential going forward. They had already mastered the hardest part to teach. The mentality. Alex lived in a sailboat at one point, and Sean did some serious house hacking when he rented out rooms in an 8-bedroom house. It's another great example of how there is no blueprint, you just have to be creative and seek value that aligns with your values. They overcame some huge student loan debts, have amassed a $750k net worth, and will be financially independent in months! Keep in mind they did all this while traveling the world, owning a plane, flying to every state in the country, skiing, running marathons... Really too much to capture. They have packed in more adventure than about any couple I know and are right on track for an early retirement. We hope you enjoyed us showcasing a story of people still on the journey and will be inspired by their amazing yet repeatable path. If you enjoyed this episode, don't forget to share this podcast with a friend! Links From the Episode Sean's Instagram Alex's Instagram Sean's website YouTube Interview https://youtu.be/_JcX1_zcM3g Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

We're money experts and would never fall for a financial trap right? Not exactly... Over the course of our lives, we've made some pretty bad money moves. It is scary to think about how much more money we could have had at age 65 if we hadn't blown that money. But we're all human, and we all make mistakes. And that's really what we want you to take away today. Understand that making mistakes is part of the journey, the important part is that you learn from them. What were some of these mistakes? Expensive cars that wiped out savings Major percentages of net worth wasted on a single volatile stock Whole life insurance policy Thinking you've outsmarted the market More If we really examine these, most come down to emotions. Getting sucked into the excitement of getting rich. In reality, the math to financial independence is fairly simple, the hard part is staying the course. Make a plan, and stick to it, regardless of the hype cycle and you'll be rich one day. Thank you all for listening and may this episode help you on your path to a financially independent future. Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

This episode is a re-air of the Fit Rich Life Podcast episode which explores Justin Taylor's journey of utilizing creativity and determination to accumulate freedom-giving wealth. Get a step-by-step breakdown of just how he reached financial independence at age 30. In this episode, you will learn about: Using Adversity as Fuel to Pursue Higher Education How Justin Reversed Engineered His Way to Happiness Justin's Use of Creative Thinking to Reach Millionaire Status CampFI: A Camp for Financial Independence and Wealth Creation The Mega Backdoor Roth Strategy Justin's Journey to Financial Freedom Fitness Transformation & Much More! Key Quotes: “Do what's best for you, not what's expected of you.” - Justin Taylor “If you weigh your food, you don't have to weigh your body.” - Justin Taylor “I'm not living a restricted life whatsoever. I'm just very efficient with my money, and I only spend it on the things that move the needle for me." - Justin Taylor “Anything you do in life with the right mindset, you can make it fun and cool.” - Justin David Carl Links from the Episode CampFI The Shockingly Simple Math Behind Early Retirement Backdoor Roth How-to The Financial Independence Show - Episode 188 Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)

What does it cost to travel the world full-time? $250,000? $100,000? $50,000? Jess Wang has been traveling ever since she quit her job in 2019 and has now visited a total of 64 countries (with a mission of reaching 100 within the next two years). In this episode, she breaks down: How she set herself up financially to retire at age 43 The real costs of full-time travel (category by category) How she managed to visit 40+ countries since retirement Tips & strategies for FI-friendly traveling How she finds accommodation, flights, and food Her favorite and least favorite destinations What you think you need vs. what you actually need And many more travel-related topics. If you enjoyed this episode, don't forget to share this podcast with a friend! Links From the Episode Remote Year Skyscanner YouTube Interview https://youtu.be/io9OGu8LgFQ Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab the Ultimate FI Spreadsheet Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFiShow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts CodyDBerman.com (Cody’s Blog) Saving-Sherpa (Justin’s blog)