Welcome to House of FI! We are glad you're here. Our mission is to help other families on the road to financial independence. If you dream of retiring early but are unsure how to do that AND raise your family, you are in the right place. Our guests will share their journey to financial independence, early retirement and debt freedom. Our guest experts will share valuable information that will help you get to your financial goals sooner. Come on in!
You Matter - Prioritizing Your WHY Even When It's Hard
Sometimes life can be so hectic and overwhelming. We get so involved in planning and checking off goals that the WHY of why we do it all anyway can get drowned out.
In today's episode, Wendy and Curtis will be sharing about their week at the FI Chautauqua in Portugal and how being in the quiet of such a beautiful country surrounded by like-minded fellow-FIers helped them come to some hard decisions.
Chautauqua also allowed Wendy and Curtis to look back and see how far they have come in the 365ish days since the last FI Chautauqua in Greece.
In this past year, they have made some pretty out-of the box moves and well as some HUGE progress on their financial goals.
They have paid off all their consumer debt. YES! They have cut their expenses by about $6500.00 A MONTH. A MONTH! You read that right. Wendy was able to close her law practice. Curtis and Wendy are able to support their 8 family household on one income for the first time in their lives. They are also under contract on four investment properties which will add another $1,100.00 of cash flow into their monthly budget. And finally, Curt and Wendy have increased the amount of Curt's contributions to his 403b and his 457. They are committed to increasing his contributions quarterly until both accounts are maxed out. What a difference one year makes. The difference is COMMUNITY.
It has been widely quoted that you are a compilation of the five people you surround yourself with. YOU are this community and together we can all make a difference in each others lives.
Lastly, Curt and Wendy share a major change for House of FI. We encourage you to listen to this episode and find out how you can stay informed about the future of the House of FI Podcast.
There are several ways you can stay connected with Curtis and Wendy.
1. Join their Private Facebook Group
2. Join their newsletter
ENCORE Episode Creating a $45,000 a Year Side-Hustle
There is no one way to Financial Independence. However, if you want to speed up your timeline to Financial Independence and Early Retirement - one of the best ways to do that is to increase your income via a side-hustle or a small business.
Today we share one of our favorite side-hustler extraordinaires, Julie, from the Millennial Boss blog and The Fire Drill Podcast.
Not only is Julie killing it in her regular jobs, but she blogs, podcasts and has found multiple ways to add income into her budget via other side-business, like an ETSY shop.
We have been SUPER inspired by her story and hope you are too!
AND you are listening just in time to hear that the courses she has mentioned will be opening up again soon in November. If you would like to get on the list to be notified of when they open, follow the links below.
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1st Generation Immigrant - the Climb from Poverty to Financial Independence
Patrick Aime grew up in poverty and unrest in Rwanda but he had a dream of coming to the United States to make his own destiny.
His pathway to the United States was via sports. First, he finished high school in Belgium and then came to the United States to play basketball in college.
In this Encore Episode, you will hear how Patrick achieved made his way to America - achieved success, made a lot of money and then lost it all. It was devastating, but Patrick used the grit and determination that got him to the U.S. to rebuild himself a second time.
This time he understood the value of money and what he needed to do to rebuild his future. He saved and spent well.
Now Patrick has retired in his forties, he is Financially Independent and spends his time between one of his residences in Cabo San Lucas and San Diego.
Encore Episode - From 70 Hours a Week to Stay at Home Dad
This week, we speak with Dan Shaw. In this encore episode, we will hear how Dan engineered his retirement in just five years. He was working 60-70 hours a week and was miserable. He decided he had had enough and after a particularly hard day at work began executing a plan to become Financially Independent.
He and his wife buckled down on their spending, ramped up their retirement accounts, optimized their taxes and increased their income via rental properties.
He and his wife hit their goal in five years! Now Dan is retired and gets to spend most days with his two daughters as manage his rental properties and projects at home.
It's a really great episode to hear some excellent tactics you can apply to your own FI/RE journey.
Increase Your Savings Rate the Fourth Tenet of the FIRE Movement
In today's bonus episode, Wendy and Curtis discuss the fourth tenet of the FIRE (Financial Independence Retire Early) Movement - which is to increase your savings rate.
In previous episodes we discussed the previous three tenets which are:
1. Rejecting Consumerism
2. Redefining Retirement
3. Tax Optimization
A good portion of the United States population has saved less than $200,000.00 towards their retirement.
Many will simply have Social Security as their only means of income upon retirement.
In a recent CNBC article, they state that many experts recommend people save seven times their annual income for retirement. This is stark contrast to the minimum suggested by the FIRE community, which is at least 25 times your living expenses.
To achieve that number, it is not unusual for members of the community to save upwards of 40%, 50% or even 75%.
If you are not able to save that much, does that mean you are excluded from the FIRE community? OF COURSE NOT. The point is to strive to increase your savings rate as much as you are able to.
One step we have taken to increase our savings rate is to allocate all raises and extra income earned to our retirement. This automatically increases your savings rate.
We hope this episode has been helpful to you. If you want to help create a solid money foundation and get your financial house in order, we invite you to participate in our FREE 7-step Money Foundations Course.
Suddenly Single - Parenting and Financial Insecurity
Eleven years ago Dawn Holley found herself single after the unexpected death of her husband. As anyone can imagine, her world was turned upside down. In this episode, we have a candid discussion with Dawn about the challenges of parenting and picking up the pieces of her life financially unprepared.
With no safety net, Dawn had to make very quick decisions about what items she could sell in her home - just to survive. She packed up what was left and moved herself and her son into her parents home.
As she and her son attempted to pick up the pieces, Dawn took the first job she could find, but the pay was not much and covered just enough for daycare for her son and for food.
Dawn knew that she needed to increase the income she was earning at the time, of about $20,000.00 to at least six figures.
From there she was very deliberate in deciding what type of career she wanted. Some of the requirements Dawn decided on were:
1. They had to be within driving distance of her parents so she could continue to live for free.
2. She had to have the ability to earn six figures.
3. The program had to be free - so she would not incur any debt.
Dawn eventually found an accelerated federal program that was one year and was free. (AMAZING RIGHT?)
She then treated every clinic she worked in while she was in the program as a job interview. Her thought was that she was building relationships that could help her after she graduated.
After several years of hard work and of strategically moving her way up - Dawn reached her goal of six figures.
She is now focusing on creating multiple streams of income as she pursues Financial Independence.
In addition to her income from wages, she is building her rental income portfolio and other business endeavors.
Where Can You Find Dawn:
Stepping Stones to FI
Dawn's Favorite Read:
The One Thing
Please come back!
I love this podcast and the positive, friendly tone the hosts take toward money conversations. They create an inviting and educational space for their guests. I really hope they’ll be back soon... I keep checking for new episodes but no luck yet. Please come back, House of FI!
Good guests with value add perspective from the hosts
Down to earth, relatable podcast for every day families
I’ve been listening to this podcast for over a year now and I think its a fantastic listen. As a mother of two young ones, the discussion and practical takeaways in this podcast are so useful and make me feel less alone on this journey. Their guests are inspiring and eager to provide advice. Thanks for the great content, Wendy and Curtis!