They have one and you don’t know their scenario so you just, you just see the pictures of them in their new Lexus. So, but that’s easier said than done. Forgot account? Or, you know, I remember when I sold my first big client and I wish I’d thought I’d feel different and you know, at the end of the day you’re carrying yourself with you. Join Brad Barrett and Community Manager, Jennifer Mah, for a virtual hangout with special guest, Brandon, aka The Mad Fientist!! It’s so. After following the FI path alone for over 2 years I discovered Brandon's blog MadFientist.com in 2013, immediately reading all of his posts. Cause that. I hesitated to list this for fear of being thought of as a Mac fanboy. So yeah, I just think, yeah, focusing on that and rather than treating it like a goal, just treating it as…alright I want to master my life and the…how I spend money for that life and what I’m working towards and yeah, always adjust because I’m still learning things about myself and I’m still changing and I’m still changing things up and yeah, you’re never going to be like, all right, now I’m happy. This is the encouragement I needed to keep saving. There’s far fewer gatekeepers these days. Are you learning a lot about yourself and exploring and growing in a way that you wouldn’t have expected? And then yeah, once you start building up a net worth, just figuring out like how much money you do have, and what that power that money gives you is important, but for a lot of people they’re spending everything they earn so the spending side of the equation I think is where you need to look first. And to be honest, like I look back on this and feel like a bit embarrassed by it. We enjoy going out to eat every once in a while because it’s like a, it’s a treat. I wouldn’t have just been fired because I asked for it so I don’t really know what I was afraid of, but I didn’t realize the power that I had so I should have used the power of the money gave me to make positive changes in my life and I should have been focused on the real goal, which wasn’t a certain number in the bank because once I hit that, it didn’t matter. It wasn’t good. So, hey Brandon, really appreciate, uh, all of the wisdom I’ve learned so much from you. You’re buying that freedom and since the first year was so crazy and I was so trying to figure everything out, I don’t think it really sunk in, but the second year after quitting my job, like I feel like it’s really sunk in and I’m starting to realize like, hey, this is the rest of my life. So. Brandon: 35:29 Absolutely, yeah. It’s like, okay. It’s your path and there’s so many different ways to become FI. Happy Saturday! And also, you know, actually this is, this is the last question. I was the same way. About See All. But you know, overall I think this is just an incredible time to be alive and to the opportunity to really just take control of your life and do what you want and potentially earn a living from it is just so high. But it allows you, I think to create kind of a barrier between you and the external world that does open up that internal…that opportunity for internal growth because at the end of the day, and I’ve realized this is no matter where I live or how I’m making money, the only thing that I’m carrying with myself is myself and that really, that really kinda hit me intensely where it was like, you know, I expected to move to New York and like feel entirely different. 46 talking about this. Today we’re joined by a friend of the BiggerPockets podcast network, Brandon “The Mad Fientist”. Your email address will not be published. And this was the weirdest thing, like during the first few months after I quit my job, when you’re actually like thinking about like what is, what is the point of my life? And it was only once she said that, that I realized what had been going on and like, yeah, I was, I was actually depressed I think. So yeah, once I set up my index fund portfolio and I was happy with it. I ’ m excit ed t o be here. And I think a lot of people think about money, you know, and they’re like budgeting or oh my gosh, I can’t imagine it just, it just seems kind of daunting and stressful and the finance industry sells this idea that, hey, you need to save up a ton of money and here’s the exact number and we’re going to help you get there. Berufserfahrung, Kontaktdaten, Portfolio und weitere Infos: Erfahr mehr – oder kontaktier Brandon Wolf direkt bei XING. And you know, it’s just another example of not having to…knowing that oddly at your core, you know, you’re going to be able to take care of yourself. He was the first guest to appear on the podcast, and I'm thrilled to have him back on for round two! You’re getting to that goal and I hope, I hope, uh, you know, we’re very fortunate that we were able to do this in our thirties and it’s such a, such a luxury. Like we need to make a change and snap out of this. It was quickly in, into my research that I realized how index funds are the most efficient and most high probable way of getting good returns. Grant: 38:26 One of the things I realized I was looking for a word. You’re just not paying something that most people don’t like paying anyway. What is this feeling that I’m feeling like, what is this? And when something’s not a treat anymore, it’s just normal. Welcome to the Financial Independence Podcast, the podcast all about financial independence and early retirement. I was like, oh, this is just, this is going to take forever. I just knew once I hit FI I’ll be happy and I was just trying to get there as quickly as possible, but just slowly just started to be more withdrawn from my friends and family and it was like, okay, I don’t want to go and do this, a big ski trip because that’ll cost a lot of money and so I’ll just stay at home and I’ll study or I’ll do some Mad Fientist work and that just kept building until I was like really withdrawn and we were living in the woods of Vermont at the time. Also, all reviews on iTunes are greatly appreciated! Ultimately though, you have the power to break free from those traps and live a life that truly makes you happy. Like I just put everything off until FI and that’s, you know, this is a process like you need to just think about like money and happiness and why you think you’re here and you just need to like make that as optimal as possible, but it’s hard to…yeah it’s hard to save a lot of money so that you have enough, but it’s also hard to figure out what that purpose is and what makes you happy. Brandon: 16:35 And here I am in my thirties and I have the opportunity to do that. So Brandon is a legend in the personal finance space and actually had a big impact on my own FI journey. While these strategies may sound intense at first, they’re quite simple in practice, as Brandon shows us! I appreciat e i t . I’m going to have to repeat a book that was already recommended by one of your other guests, Jim Collins (he is the person who actually recommended the book to me). So many different tactics. Brandon: 24:21 Sure. And that’s resulted in saying no to some really cool and interesting opportunities that would have probably been super fun. So it, it just didn’t matter. Why are so many people still stuck in that rut? And like yesterday it was quite stressful…I had a lot of stuff going on, but it was all good stuff and everything that I did was something that I chose to do and there really…there’s nothing better you can buy in the world that I can’t imagine anything else that’s better than that to buy. Brandon walks us through advanced retirement account strategies you may have heard of, such as the Backdoor Roth, Roth Conversion Ladder, and the coveted Mega Backdoor Roth. It’s fun to be on this journey. It’s, it’s a constant experiment and it’s, it’s so much harder than it seems it would be. And I’ve talked a lot about some of the downsides of it, but I just want to reiterate like overall it is just so amazing to be able to wake up and choose what you do that day. But when you’re comparing yourself to somebody, you don’t really know the full scenario. Like I’m saying yes to all this stuff. And that’s a beautiful thing. In Bruges. But, but yeah, not caring so much about the money I guess just allows me to not worry about that and just not care. This is the first year I didn’t do my own taxes and that’s because uh, I switched my business over to an S Corp and I had no interest whatsoever and learning how to do an S Corp return and all the implications of that. Brandon: 02:12 I didn’t even realize what was happening to be honest. For that person who’s listening, who’s maybe making a good amount of money or they’re just getting started here, how can you fall in love with tax optimization and why is it so important? And yes, some of it’s really fun and some of it’s really cool and good and interesting, but it’s like I don’t have to say yes to anything and I have the freedom to pick only the things that I really enjoy doing or the things that I think will help the most people or the things that I think will like improve my life the most. Email *. Like, no, if we let you work two days a week from home, then everybody’s gonna want to do it and all this sort of stuff. And uh, it’s, it was a huge impact. Like I wasn’t happy, which obviously then made my wife unhappy and I was just trying to save every single penny. Mad Fientist: Hey, what’s up, everybody. All these things, and I think one of the things with financial independence is a lot people, they just look to that destination and it just becomes kind of a money addiction in another form and I really appreciate it. It actually makes me sad inside when I see other people using a Windows machine because I know how much better their lives could be if they made the switch. Because if, if I’d walked into my boss’s office because I was able to work one day a week from home, but like working anymore, it was like, oh no, that’s against company policy. I couldn’t agree more and that’s something that like looking back on my own journey, I realized I did wrong. Like that’s always been a hobby and yeah, now it’s earning income, but at the core it’s a hobby and it’s something that I enjoy doing. It was like I’m moving to Scotland and I just didn’t care what they said really. Technology has really made it so that we can do some incredible things. And yeah, it was only like after two years of that that my wife was like, what is happening here? (You can watch the video here.) So Brandon is one of the 12 stories featured in Financial Freedom. You, when who you are now is different than who you were two years ago. And things like that. Email Address. Rework by Jason Fried and David Heinemeier Hansson. So the, the origin of the story is I went way too far and the deprivation zone of savings and frugality and so when I have found that financial independence is possible, like I just did everything in my power to get there and I became obsessed with it really. Brandon, the Mad Fientist. Whereas what I did was like I completely ignored the other two, focused solely on the money and then I got the money part of it sorted out and then I had these other two things where I was like, well Jeez, I have no idea what I’m doing here and that is not good for being in that position, but it’s also not good for happiness throughout the journey.
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