How CARS helped me achieve FIRE (reducing the cost for one of the BIG 3)

In this episode of Nine to FI, Josh and Elliot explore the complex world of auto financing. They offer practical tips for car purchasing, share a mix of success and failure stories, and discuss their personal car ownership journeys. This episode kicks off a multi-part series focusing on cars and financial independence. Tune in for insights on making smarter car decisions and the financial benefits that come with it. Enjoy the casual conversation and learn how you can turn your car savings into investments for a secure and comfortable future.

00:00 Introduction to Smart Car Ownership

00:40 Meet the Hosts: Josh and Elliot

01:24 Halloween Fun and Family Talk

03:14 Shocking Car Payment Statistics

09:54 Call to Action: Support the Show

10:36 Personal Car Ownership Stories

26:30 Financial Strategies for Car Purchases

28:50 The Money Guy Show's Car Buying Rule

32:46 The Cost of Car Ownership

34:44 Interest Rates and Financing

37:28 Smart Spending Strategies

49:45 Leveraging Your Car for Income

54:39 Shifting Mindsets for Financial Freedom

57:09 Rapid Fire Questions

01:03:43 Closing Thoughts

Navigating Retirement and Housing Dilemmas: A Conversation on Financial StrategiesIn this episode, Josh and Elliot delve into personal financial challenges and decisions. Josh grapples with his wife Lori's reluctance to leave full-time work due to uncertainties about income replacement post-retirement. This kicks off a discussion on withdrawal strategies and asset management. Elliot shares his own dilemma about whether to move to a larger house, which is complicated by the high cost and the location his family enjoys. The episode further explores housing decisions as Josh considers downsizing to a more amenable town, but struggles with finding the right property. Both hosts commit to returning with detailed financial analyses, hoping these conversations will help others facing similar issues.

00:00 Introduction and Podcast Purpose

00:35 Discussing Retirement and Financial Planning

03:22 Exploring Housing Dilemmas

05:41 Comparing Housing Options and Financial Implications

08:55 Concluding Thoughts and Future Plans

Raising a FIRE-Conscious Family | 9toFI 013 | 9 to FI PodcastJoin hosts Josh and Elliot on the 9 to FI Podcast as they discuss strategies for raising a family with a mindset focused on Financial Independence, Retire Early (FIRE). They share personal experiences, including the concept of the 'Bank of Mom and Dad', emphasizing the value of teaching money management and values to children from different age groups. The conversation covers practical ways to cut costs, such as using libraries, buying secondhand, and leveraging credit card reward hacking for economical travel. They also delve into the significance of making intentional big purchases, the benefits of not always having the latest and greatest, and the importance of experiences over material items. Wrapping up with rapid-fire questions, they highlight key financial lessons and family splurges that reinforce the FIRE principles.00:00 Welcome to the 9 to FI Podcast00:11 Introducing the Concept of a FIRE Conscious Family01:34 The Bank of Mom and Dad: Teaching Financial Responsibility08:45 Balancing Extracurricular Activities and Financial Independence14:24 The Value of Secondhand Items22:44 Travel Hacking: Saving Money on Family Trips26:32 Big Purchases: Vehicles and Housing33:26 The Bond of Twins and House Hacking34:17 Minimalist Gift-Giving Strategies41:24 Library Hacks and Resourcefulness47:02 529 Plans and College Costs52:41 The True Cost of Raising Kids55:43 Rapid Fire Questions and Final Thoughts

How Real Estate Fast-Tracked Financial Freedom | 9toFI 012 | 9 to FI PodcastIn this episode of 9 to FI, hosts Josh and Elliot delve into how building a portfolio of properties can accelerate the path to financial independence. Josh shares his personal journey, starting from his first fixer-upper in the early 2000s to a diversified portfolio that generates significant cash flow. Along the way, they discuss the skills needed for property renovation, the BRRRR strategy, and the challenges faced in real estate investing. Whether you're curious about getting started in real estate or looking to expand your investment knowledge, this episode is packed with valuable insights and real-world experiences.00:00 Introduction to Real Estate and Financial Independence01:05 Josh's First Real Estate Experience02:18 Developing Handy Skills and Early Influences05:22 Transitioning to Real Estate Investment07:25 The Role of Mentorship and Networking18:42 First Property Purchase and Renovation25:39 Executing the BRRRR Strategy31:33 The Hustle Culture and Time Freedom33:33 Balancing Real Estate and Parenting34:34 Involving Kids in Real Estate37:03 Financial Strategies and Cash Flow42:44 The Challenges of Real Estate Investing45:11 The Big Renovation Project51:20 Lessons Learned and Advice for New Investors58:13 Rapid Fire Questions and Final Thoughts

From Nervous Speakers to Confident Podcasters

In this episode, Elliot and Josh reflect on their podcast journey, particularly revisiting their very first episode, 'Intro to 9 to FI.' They discuss the feedback received and their initial challenges, then outline their personal and shared goals for the podcast. These goals include becoming better speakers, having deeper and more meaningful conversations, meeting new people, and impacting others' lives. This episode is a candid and unedited discussion about their aspirations and the future direction of the podcast.

00:00 Introduction and First Episode Recap

00:16 Reflecting on Feedback and Improvements

01:21 Setting Goals for the Podcast

01:56 Personal Development Goals

03:38 Deep Conversations and Feedback

04:56 Meeting New People and Overcoming Anxieties

06:16 Impacting Lives and Financial Independence

07:10 Preparing for Early Retirement

08:15 Learning New Skills and Marketing

09:31 Sustainability and Enjoying the Process

10:42 Conclusion and Call to Action

How to avoid Retirement Burnout | 9toFI 010 | 9 to FI PodcastElliot and Josh continue their deep dive into retirement planning on this episode of the 9 to FI Podcast. Reflecting on their meticulously planned retirement schedules, they share their real post-retirement experiences, highlighting the inevitable deviations and surprises. Josh opens up about the challenges of maintaining a perfect retirement day, dealing with cognitive overload, and the struggle to balance multiple interests and obligations. They explore the importance of flexibility, the evolution of personal schedules, and the universal human tendency to overcommit. Tune in to gain insights into navigating the unpredictable journey of early retirement, along with practical tips on managing activities and expectations.00:00 Introduction and Welcome00:13 Recap of the Perfect Retirement Plan01:28 Josh's Perfect Day Vision03:34 Elliot's Perfect Day Vision06:10 Reality of Retirement: The First Week10:11 Adjusting the Plan: Overwhelm and Realizations15:24 Balancing Activities and Mental Health19:29 The Struggle of Saying No28:19 Conclusion and Final Thoughts

Planning Your Perfect Post Work Life | 9toFI 009 | 9 to FI PodcastJoin Elliot and Josh as they delve deep into the concept of early retirement and the journey of financial independence. Josh shares his personal experiences and plans leading up to his transition to early retirement, emphasizing the importance of having a purpose and activities to retire to. The episode explores various exercises and strategies to prepare for a fulfilling retirement, addressing concerns about potential boredom and anxiety. They discuss the balance between decompression and productivity, stressing the value of intentional planning and regular self-reflection. Whether you're nearing retirement or just considering it, this episode offers valuable insights and practical advice for a smoother transition.00:00 Introduction and Greetings00:08 Discussing Early Retirement Plans00:54 Concerns About Early Retirement01:47 Planning for Post-Retirement Life06:34 Creating a Retirement To-Do List09:19 Finding Purpose in Retirement12:06 Reflecting on Retirement Activities19:25 Adapting to Retirement Life26:18 Conclusion and Final Thoughts

Crafting Community on the Road to FIJoin Josh and Elliot as they dive into their weekend activities and talk about the value of community. They recount experiences from fixing rental properties and attending children's soccer games, to meeting and learning about the Financial Independence (FI) community. The discussion touches on car repairs, kid's sports, and engaging with local FI meetups. Find out how Elliot and Josh fostered their FI communities before and after retirement, the challenges they faced, the benefits of being part of a cohesive group, and the importance of pushing out of one’s comfort zone to connect with like-minded individuals. This conversation not only highlights their personal journeys but also offers insights on how to build and sustain community ties in pursuit of financial independence.00:00 Opening Banter00:40 Car Troubles and DIY Fixes02:25 Kids' Soccer and Healthy Competition04:25 Introduction to Community Building05:07 Personal Community Stories08:36 Discovering Financial Independence13:32 Attending In-Person Events26:01 Post-FI Community Building34:33 Encouragement to Build Community36:07 Closing Remarks and Call to Action

Retire Early or Enjoy Now?Welcome to the 9 to FI Podcast with Elliot and Josh! In this episode, we explore the evolution of the Financial Independence, Retire Early (FIRE) movement. Starting with 'Old School' FIRE principles, focused on extreme frugality and rapid wealth accumulation, we transition into the emerging 'New FIRE' concepts like Slow FI, Barista FI, and Fat FI. Join us as we discuss the pros and cons of each approach, share personal journeys, and debate which method might be best for different lifestyles. We wrap up with some fun, quick-fire questions and encourage you to reflect on your own path to financial independence. Don't forget to like, subscribe, and leave a review!00:00 Introduction to the Podcast00:11 Old School FIRE: The Original Playbook01:30 New Voices in the FIRE Community02:41 Balancing Old and New FIRE Concepts04:14 Personal Stories and Reflections08:29 Core Tenets of Old School FIRE10:12 Shifts in the FIRE Movement11:15 Perfect Day in Retirement24:47 Lightning Round: Fun FIRE Choices27:46 Conclusion and Listener Engagement

Are You Saving or Just Being Cheap? | 9 to FI Podcast

Join Josh and Elliot in this episode of the 9 to FI Podcast as they delve into the often blurred line between frugality and being cheap. In a world where upgrading to the latest gadgets and luxurious cars is the norm, how do you define what's truly necessary versus what's merely extravagant? The hosts share personal anecdotes, discuss living intentionally with purchases, and address the stigma that surrounds frugal living. From scrutinizing phone plans and car choices to discussing the importance of intentional spending on food and experiences, this episode provides a comprehensive guide to making smart financial decisions without sacrificing quality of life. Don't miss their engaging debate and practical advice for navigating these common financial dilemmas!

00:00 Introduction and Greetings

00:10 Frugality vs. Cheapness: Setting the Stage

01:06 Defining Frugality and Cheapness

02:09 Personal Stories and Examples

09:25 Phone Plans and Upgrades

18:32 Car Choices and Social Perceptions

28:04 Justifying Frugality to Others

38:31 Challenges and Final Thoughts

How to finally get your partner on the same page about MoneyWelcome to the 9 to FI Podcast with hosts Elliot and Josh! In this episode, they dive into the topics of budgeting and the concept of 'money dates.' Elliot and Josh share personal experiences on how they and their partners manage finances and the evolution of their budgeting practices. They discuss the importance of budgeting for different life stages, strategies for making financial meetings enjoyable, and how communication plays a key role in financial planning. The hosts also touch on challenges of budgeting, setting financial goals, and the balance between strict budgeting and the anti-budget approach. This candid conversation is packed with valuable insights to help you and your partner achieve financial harmony.00:00 Introduction and Today's Topic01:11 The Importance of Budgeting04:28 Budgeting Strategies and Evolution08:27 Current Budgeting Systems14:54 Money Dates and Communication27:44 Conclusion and Next Steps

Navigating Conversations about FIRE with Friends | 9 to FI PodcastWelcome to the 9 to FI Podcast with hosts Elliot and Josh. In this episode, we dive into the tricky topic of discussing FIRE (Financial Independence, Retire Early) with friends. Imagine explaining to friends that you want to retire decades earlier than they thought possible. We cover why talking about money and FIRE can be challenging, share personal anecdotes, and offer tips on how to keep these conversations light and friendly. We also explore common reactions, from skepticism to genuine interest, and discuss how to avoid common pitfalls and missteps when introducing others to the FIRE movement. Join us for a candid discussion on how to navigate these important, but often taboo conversations!00:00 Introduction to the Nine to FI Podcast00:04 Explaining Financial Independence to Friends00:18 Personal Stories and Cultural Taboos Around Money03:24 Transparency and Celebrating Financial Success05:56 Consumerism and Financial Signaling07:34 Challenges of Discussing FIRE with Friends11:44 Skeptics and Misconceptions About Early Retirement15:48 Different Reactions to FIRE: Jokers, Uninterested, and Curious Friends23:22 Navigating Conversations About FIRE24:10 Personal Stories and Examples27:44 Crafting the FIRE Elevator Pitch34:42 Avoiding Common Pitfalls42:42 Lighthearted Stories and Mishaps47:04 Wrapping Up and Final Thoughts

The Money Lessons that shaped Elliot. In this episode, Josh and Elliot recount their mutual connection, setting the stage for Elliot's captivating financial journey. Starting from a privileged yet not overly abundant childhood, Elliot navigates through private and public schooling, budget-conscious parenting, and early job experiences. He shares his early lessons on money, heavily influenced by his father's 'it's only money' mantra, and recounts the trials and triumphs he faced—from school transitions to job losses and personal hardships. Elliot's story doesn't stop there; he goes on to discuss his ventures into side hustles, relationships, and ultimately, his path to financial independence. Inspirational and introspective, this episode highlights the emotional and practical aspects of personal finance, the importance of mindset, and the value of persistence in overcoming financial and personal challenges. Don't miss out on this incredible journey of resilience and financial acumen.00:00 Introduction

From Financial Struggles to Early Retirement: Josh's JourneyIn this episode, Josh and Elliot recount their personal stories of financial struggle and triumph. Josh shares his early experiences with money, growing up with modest means, and facing financial challenges through high school and early adulthood. From struggling with debt, foreclosure, and chapter seven bankruptcy, Josh narrates his journey to turning his finances around. The conversation also highlights Josh’s introduction to financial literacy through impactful books and blogs, leading him to the concept of financial independence. After years of dedicated learning and discipline, Josh recently retired early, achieving his financial goals. Tune in to learn from his inspiring story of resilience, financial awakening, and success.00:00 Introduction and Weekend Catch-Up02:55 Early Money Memories04:45 Middle School and High School Experiences07:43 First Job and Financial Struggles13:33 Early Adulthood and Family Life18:48 Financial Crisis and Divorce22:43 Financial Turmoil and Bankruptcy23:35 Employment Anxiety and Layoff Fears25:30 Meeting Lori and Shared Financial Struggles27:15 Discovering Financial Education28:45 Implementing Financial Strategies36:16 The Influence of Financial Blogs38:33 Discovering Financial Independence40:59 Achieving Early Retirement

Introduction to Financial Independence and Early RetirementIn the debut episode of '9 to FI,' hosts Elliot and Josh launch their podcast discussing financial independence (FI) and early retirement. They introduce their mission to break away from the traditional nine to five grind, seeking greater freedom and control over their lives. The hosts emphasize that they are just regular guys, not financial advisors, aiming to provide relatable insights. They share personal experiences that led them towards FI, such as dealing with the 'Sunday night scaries' and budget frustrations. Future episodes will cover various related topics, including the psychology of money, life post-retirement, and integrating relationships into the FI journey. This introductory episode sets the stage for a journey toward financial freedom, promising practical advice and personal anecdotes.00:00 Introduction to 9 to FI Podcast00:36 What is Financial Independence?00:52 Personal Stories and Realizations01:20 Podcast Goals and Future Topics01:58 Wrapping Up and Next Steps