Prioritizing Experiences Over Stuff with Greg from The Suburban Folk Podcast FI after 40 Podcast

Life in the suburbs can look like a cliché to some. But Greg has managed to avoid the “McMansion” lifestyle and learned from an early age that investing in experiences is a better path than spending on the flashier things in life. His podcast, Suburban Folk, touches on all things suburbia, from parenting, to home improvements, to personal finance. In this episode, we dig into his story and identify a number of ways to help save you money and optimize your life.

Podcast


Wanted to discuss his varying interests related to growing up in suburbia
Enjoys travel, health/fitness, DIY, finance, parenting
Finances have an impact on each of those areas

Lifestyle and background


Has always been an aggressive saver of money
His father retired early at 52
Has tried to manage his debt and minimize expenses
Learned to prioritize travel and time with family from his parents

Dave Ramsey


Appealed to his competitive side, comparing progress to others
The emotional side vs the math side
Learned about the baby steps
Attended a seminar to learn more and learned about coaching courses
Will complete coursework soon and is excited to help people with their finances
Coaching will be based on the client’s goals, from paying down debt, to earning more money

Financial Independence


Has always been debt averse, took out minimal school loans
His perspective on FI is allowing flexibility to raise his family they way he sees fit
Wife had med school debt (six figures) and focused on paying that off before they allowed any lifestyle inflation
Having kids also triggered a desire to pursue FI
Missed the birth of his daughter while traveling for work
Wants to be around to experience his kids’ lives

Paying off your home early


People become comfortable with the idea of a 30-year mortgage
It doesn’t have to be that way if you re-prioritize paying it off early
Can’t rely on home appreciation, using 2008 market crash as an example
Increasing your income with side hustles and networking
Earned a scholarship in college based on volunteering for theater program
Attempted to sign a recording contract in college and learned about evaluating legal documents and being aware of being scammed
Earned money giving guitar lessons, refereeing soccer games, built websites on WordPress, earned form a rental property, runs a small consulting business and has also earned money from editing podcasts
Likes having additional sources of income as a backup and to supplement his primary income
Extra money can go right towards savings, or can cover daily expenses and allow your primary income to fund savings and retirement

General advice


Believes it’s never too late
Has learned a lot from reading, loves using the local library to learn for free
Don’t make excuses, if you are motivated you can make a plan that works

Travel goals


Top destination is Australia, loves the band Silverchair which is from Australia
Would like to return to Europe to explore more
Stretch goal is to visit all the continents
Finds that the best travel experiences are when you step away from the standard tourist destinations

Follow Greg


Website/Podcast: https://suburbanfolk.com/
Email: Greg@suburbanfolk.com
Phone: 717-856-5709
Offering free consultations as a financial coach


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