1
00:00:16,200 --> 00:00:19,320
Speaker 1: Heyba fam, we did it. We're here. We are almost

2
00:00:19,600 --> 00:00:23,159
Speaker 1: done with twenty twenty. But before we say goodbye to

3
00:00:23,239 --> 00:00:26,079
Speaker 1: the Year of the Dumpster Fire, we first wanted to

4
00:00:26,120 --> 00:00:29,360
Speaker 1: take a look back at some of our favorite conversations

5
00:00:29,400 --> 00:00:33,199
Speaker 1: we had with guests this year on Brown Ambition. First up,

6
00:00:33,280 --> 00:00:36,840
Speaker 1: we've got our conversation with Aman and Christina of our

7
00:00:37,120 --> 00:00:39,519
Speaker 1: Rich Journey. First of all, if you guys do not

8
00:00:39,560 --> 00:00:42,120
Speaker 1: subscribe to their YouTube channel and you are interested in

9
00:00:42,159 --> 00:00:45,120
Speaker 1: getting your start in investing, you have got to go

10
00:00:45,159 --> 00:00:48,400
Speaker 1: to YouTube right now and subscribe. Honestly, there's a series

11
00:00:48,400 --> 00:00:52,080
Speaker 1: of videos about wealth building and investing and saving for retirement.

12
00:00:52,560 --> 00:00:55,680
Speaker 1: We're a game changer for the way that I personally

13
00:00:55,720 --> 00:00:59,520
Speaker 1: approached my own retirement before the age of forty. Christina

14
00:00:59,560 --> 00:01:02,560
Speaker 1: and Aman managed to not only retire, but move their

15
00:01:02,720 --> 00:01:06,840
Speaker 1: entire family to Portugal, of all places, and start fresh.

16
00:01:06,959 --> 00:01:09,200
Speaker 1: They are truly living their best damn lives, and in

17
00:01:09,240 --> 00:01:12,760
Speaker 1: this episode, they were here to spill the tea on

18
00:01:12,840 --> 00:01:15,600
Speaker 1: how much they save to retire early, how they're making

19
00:01:15,760 --> 00:01:18,280
Speaker 1: ends meet out there in Portugal right now, and what

20
00:01:18,319 --> 00:01:21,600
Speaker 1: are their expenses really like. We hope you enjoy looking

21
00:01:21,640 --> 00:01:24,680
Speaker 1: back on this episode of Brown ambition. So, without further ado,

22
00:01:24,880 --> 00:01:27,680
Speaker 1: here's our conversation with a Moan and Christina of Our

23
00:01:27,800 --> 00:01:32,240
Speaker 1: Rich Journey. We are joined today by the fabulous Our

24
00:01:32,520 --> 00:01:35,840
Speaker 1: Rich Journey, the brains behind Our Rich Journey, Christina and

25
00:01:35,880 --> 00:01:38,080
Speaker 1: Amman Browning. Welcome to the show.

26
00:01:38,880 --> 00:01:40,320
Speaker 2: Hey, thanks for having us.

27
00:01:40,400 --> 00:01:41,000
Speaker 3: Yeah, thank you.

28
00:01:41,080 --> 00:01:43,240
Speaker 4: We have been looking forward to this. We were so

29
00:01:43,280 --> 00:01:45,640
Speaker 4: excited about this call. So we are so glad to

30
00:01:45,680 --> 00:01:46,759
Speaker 4: be speaking with you guys.

31
00:01:47,240 --> 00:01:49,480
Speaker 5: Now we're geeked. I'm like, ugh, I just know our

32
00:01:49,480 --> 00:01:52,000
Speaker 5: audience is going to love you. Oh money too.

33
00:01:52,480 --> 00:01:54,280
Speaker 1: Let me brag on y'all for a little bit because

34
00:01:54,360 --> 00:01:57,320
Speaker 1: your story is so inspirational and I know that our

35
00:01:57,360 --> 00:02:00,520
Speaker 1: audience will love you. But as we mentioned, the come

36
00:02:00,520 --> 00:02:03,600
Speaker 1: from the San Francisco Bay Area. You guys both worked

37
00:02:03,600 --> 00:02:07,120
Speaker 1: for the federal government until your late thirties. You decided,

38
00:02:07,200 --> 00:02:09,640
Speaker 1: let's just quit our jobs. Let's just retire. Now, how

39
00:02:09,639 --> 00:02:11,680
Speaker 1: about that? With what a ten and a twelve year

40
00:02:11,639 --> 00:02:12,320
Speaker 1: old at the time.

41
00:02:12,880 --> 00:02:16,079
Speaker 4: Yes, yeah, well so they're eleven and thirteen now, so yeah,

42
00:02:16,120 --> 00:02:17,880
Speaker 4: they were about ten and twelve at the time.

43
00:02:18,320 --> 00:02:20,160
Speaker 2: What better not only quit your job?

44
00:02:21,000 --> 00:02:24,040
Speaker 1: Yeah? Very casually? Well, no, I mean, I'm kind of

45
00:02:24,080 --> 00:02:26,000
Speaker 1: making it seem easier than it was. You guys plan

46
00:02:26,160 --> 00:02:29,760
Speaker 1: for this. You joined the Fire movement before you even

47
00:02:29,840 --> 00:02:31,480
Speaker 1: knew there was a Fire movement? Is that right?

48
00:02:32,280 --> 00:02:33,919
Speaker 3: Oh, that is totally right. I love how you said

49
00:02:33,919 --> 00:02:34,200
Speaker 3: that too.

50
00:02:34,240 --> 00:02:36,760
Speaker 4: It's like we didn't even really know what we were

51
00:02:36,800 --> 00:02:39,720
Speaker 4: doing as we were doing it in terms of classifying

52
00:02:39,800 --> 00:02:43,160
Speaker 4: it as a Fire movement, because when we started, it wasn't.

53
00:02:42,880 --> 00:02:46,120
Speaker 3: Like this huge thing. It's not a huge thing now, I.

54
00:02:46,120 --> 00:02:49,399
Speaker 4: Would say, but it's much bigger than when we started.

55
00:02:49,520 --> 00:02:53,240
Speaker 4: So Fire is really financial independence retiring early. And the

56
00:02:53,280 --> 00:02:56,600
Speaker 4: concept is really that you save as much money as

57
00:02:56,639 --> 00:02:58,639
Speaker 4: you can, you make as much money as you can,

58
00:02:58,760 --> 00:03:01,880
Speaker 4: and then you invest that money, and then that money

59
00:03:01,919 --> 00:03:04,640
Speaker 4: will grow enough to a point where you have enough

60
00:03:04,680 --> 00:03:08,280
Speaker 4: money that you can reach financial independence and retire and

61
00:03:08,320 --> 00:03:08,720
Speaker 4: never have.

62
00:03:08,720 --> 00:03:09,359
Speaker 3: To work again.

63
00:03:09,520 --> 00:03:13,920
Speaker 4: So that whole sort of introduction to Fire was we

64
00:03:13,919 --> 00:03:17,600
Speaker 4: were sort of working on it and doing all these

65
00:03:17,639 --> 00:03:20,320
Speaker 4: things towards Fire, but there wasn't really we didn't know

66
00:03:20,360 --> 00:03:22,400
Speaker 4: the name of it at the time when we started.

67
00:03:23,160 --> 00:03:25,560
Speaker 1: We'll talk about I mean, so take us back to

68
00:03:25,600 --> 00:03:27,480
Speaker 1: eight years ago. Was it eight or nine years ago

69
00:03:27,520 --> 00:03:30,000
Speaker 1: when y'all decided as a couple, Was it was it

70
00:03:30,120 --> 00:03:33,080
Speaker 1: one big conversation where y'all where you were both like, hey,

71
00:03:33,160 --> 00:03:36,440
Speaker 1: we should retire early? How soon? Eight years? How's eight years?

72
00:03:36,480 --> 00:03:38,160
Speaker 1: And then you put it like, how did that? How

73
00:03:38,200 --> 00:03:40,119
Speaker 1: does it work as a couple? How do you decide

74
00:03:40,520 --> 00:03:43,520
Speaker 1: we are going to both strive for this goal? Get

75
00:03:43,560 --> 00:03:45,840
Speaker 1: on the same page and talk about the steps that

76
00:03:45,920 --> 00:03:48,320
Speaker 1: y'all took in your early thirties to be able to

77
00:03:48,360 --> 00:03:49,720
Speaker 1: retire before forty.

78
00:03:50,320 --> 00:03:53,320
Speaker 2: Well, you know, it was a AHA moment for me

79
00:03:53,360 --> 00:03:56,200
Speaker 2: at work. I was at work working for the federal government,

80
00:03:56,840 --> 00:03:59,320
Speaker 2: and I was I was going through the motions every

81
00:03:59,360 --> 00:04:01,840
Speaker 2: day in the race. And I was at work one

82
00:04:01,880 --> 00:04:04,280
Speaker 2: day and I received an award for my length of

83
00:04:04,280 --> 00:04:07,280
Speaker 2: service with the federal government for ten years. And at

84
00:04:07,320 --> 00:04:10,480
Speaker 2: this awards assembly, there was another federal employee that had

85
00:04:10,480 --> 00:04:13,440
Speaker 2: gotten an award for thirty years of service. And I

86
00:04:13,600 --> 00:04:18,480
Speaker 2: just remember, at this assembly, my ten years was just insignificant.

87
00:04:18,600 --> 00:04:21,920
Speaker 2: They hurried me off the stage. It was nothing. And

88
00:04:22,120 --> 00:04:25,240
Speaker 2: at that moment, I realized that I didn't want to

89
00:04:25,279 --> 00:04:28,440
Speaker 2: be here thirty years just to get another piece of paper.

90
00:04:28,960 --> 00:04:31,480
Speaker 2: And so I went home. I had this conversation with Christina,

91
00:04:31,720 --> 00:04:34,680
Speaker 2: and you know, there were so many things that we

92
00:04:34,720 --> 00:04:37,640
Speaker 2: wanted to do besides just spend the rest of our

93
00:04:37,640 --> 00:04:41,160
Speaker 2: lives in our cubicle. And so we had this conversation

94
00:04:41,360 --> 00:04:43,080
Speaker 2: and we didn't really know how we were going to

95
00:04:43,120 --> 00:04:46,400
Speaker 2: do it, you know, we had it was just a goal.

96
00:04:46,480 --> 00:04:48,800
Speaker 2: A goal was to be able to develop enough passive income,

97
00:04:49,160 --> 00:04:52,040
Speaker 2: either with real estate or with the stock market, to

98
00:04:52,080 --> 00:04:54,320
Speaker 2: be able to quit our jobs and live off of that.

99
00:04:54,800 --> 00:04:57,000
Speaker 2: And so when I went home and me and Christina

100
00:04:57,040 --> 00:05:00,919
Speaker 2: had this conversation, what Christina did is what she always does.

101
00:05:01,120 --> 00:05:03,400
Speaker 2: She was like all in for it. She said, let's

102
00:05:03,440 --> 00:05:05,000
Speaker 2: do it. Let's figure out a way to get it done.

103
00:05:05,680 --> 00:05:07,240
Speaker 1: Well, it's your heart. I mean, my husband and I

104
00:05:07,240 --> 00:05:09,719
Speaker 1: can't even ngram what to order on door Dash. I

105
00:05:09,720 --> 00:05:14,040
Speaker 1: mean that's like a two hour conversation. Well, I think

106
00:05:14,080 --> 00:05:16,799
Speaker 1: y'all's relationship, I mean it has to be so strong,

107
00:05:16,839 --> 00:05:19,520
Speaker 1: such a foundation of trust, and I just and it

108
00:05:19,560 --> 00:05:22,120
Speaker 1: comes across for me and your YouTube channel and your videos.

109
00:05:22,120 --> 00:05:23,800
Speaker 1: You can really tell that y'all are all in with

110
00:05:23,839 --> 00:05:26,760
Speaker 1: each other, and that's that's beautiful to see. Tiff, What

111
00:05:26,800 --> 00:05:28,000
Speaker 1: do you want to ask now?

112
00:05:28,040 --> 00:05:30,599
Speaker 6: I just want to know, like what in your note

113
00:05:30,640 --> 00:05:33,440
Speaker 6: so you have that initial excitement, But what were there

114
00:05:33,480 --> 00:05:36,960
Speaker 6: things that made you nervous about about this journey that

115
00:05:37,000 --> 00:05:38,760
Speaker 6: you were like, how were we going to handle these things?

116
00:05:39,040 --> 00:05:40,839
Speaker 6: Because I'm sure there are certain people who are listening

117
00:05:40,839 --> 00:05:43,360
Speaker 6: and they're like, I'd love to retire early, but I'm

118
00:05:43,400 --> 00:05:44,760
Speaker 6: nervous about dot.

119
00:05:44,600 --> 00:05:46,640
Speaker 5: Dot dot, And how did you handle those things?

120
00:05:47,920 --> 00:05:50,560
Speaker 2: There was a list. I think I think the biggest

121
00:05:50,560 --> 00:05:52,599
Speaker 2: thing on our list was the amount of money that

122
00:05:52,640 --> 00:05:55,159
Speaker 2: it would take to retire to do it, you know,

123
00:05:55,200 --> 00:05:57,680
Speaker 2: we we have this thing called a fire number, and

124
00:05:57,720 --> 00:06:00,360
Speaker 2: it's a number that you calculate and it's based off

125
00:06:00,360 --> 00:06:01,760
Speaker 2: of the amount of money that you would need in

126
00:06:02,480 --> 00:06:06,000
Speaker 2: an investment portfolio in order to call yourself financially independent.

127
00:06:06,480 --> 00:06:10,480
Speaker 2: And just calculating that number and seeing that number on paper,

128
00:06:10,760 --> 00:06:13,480
Speaker 2: that was very intimidating. So that was one thing for sure.

129
00:06:14,040 --> 00:06:16,359
Speaker 3: Yeah, and I think you know it's for us.

130
00:06:16,160 --> 00:06:20,360
Speaker 4: It's really like when we have maybe these challenges, are

131
00:06:20,360 --> 00:06:22,479
Speaker 4: we thinking, Okay, how much is it going to take

132
00:06:22,520 --> 00:06:24,120
Speaker 4: in order to retire? Because I think one of the

133
00:06:24,120 --> 00:06:26,040
Speaker 4: things that man forgot to say is when he came

134
00:06:26,080 --> 00:06:27,880
Speaker 4: home and we were talking about it, he said, I

135
00:06:27,960 --> 00:06:31,680
Speaker 4: want to retire before I'm forty and so for us,

136
00:06:31,720 --> 00:06:35,280
Speaker 4: it was like, wow, that's not a huge amount of time,

137
00:06:35,760 --> 00:06:38,320
Speaker 4: So what are the things that we need to do

138
00:06:38,520 --> 00:06:40,400
Speaker 4: in order to make that happen. So I think the

139
00:06:40,520 --> 00:06:42,480
Speaker 4: challenge for us too was at the time, like I said,

140
00:06:42,520 --> 00:06:45,840
Speaker 4: there wasn't a lot of information out there. There wasn't

141
00:06:46,120 --> 00:06:50,120
Speaker 4: a lot of information in general in terms of how

142
00:06:50,160 --> 00:06:53,640
Speaker 4: to pursue fire. And Aman and I also both came

143
00:06:53,839 --> 00:06:58,880
Speaker 4: from backgrounds where we didn't learn about investing or even

144
00:06:59,040 --> 00:07:02,599
Speaker 4: saving money, really making money extra money, how do you

145
00:07:02,600 --> 00:07:06,120
Speaker 4: go about doing that? So we didn't have that type

146
00:07:06,120 --> 00:07:09,480
Speaker 4: of background in terms of learning how to really deal

147
00:07:09,560 --> 00:07:12,240
Speaker 4: with our finances, So that was definitely a struggle. I mean,

148
00:07:12,560 --> 00:07:15,880
Speaker 4: I think part of it is really becoming comfortable in

149
00:07:16,480 --> 00:07:19,000
Speaker 4: how do you make these real estate transactions, how do

150
00:07:19,040 --> 00:07:23,080
Speaker 4: you make these stock market investments, and really becoming financially

151
00:07:23,120 --> 00:07:26,240
Speaker 4: literate and understanding how to try and grow our money.

152
00:07:26,280 --> 00:07:28,840
Speaker 4: So I think a lot of people when they're on

153
00:07:28,880 --> 00:07:32,720
Speaker 4: the fire journey, that can be a struggle because it

154
00:07:32,720 --> 00:07:35,040
Speaker 4: can seem sort of overwhelming. You have to make all

155
00:07:35,040 --> 00:07:36,960
Speaker 4: this money, and then you have to figure out how

156
00:07:36,960 --> 00:07:39,000
Speaker 4: do you grow your money because you can't just allow

157
00:07:39,000 --> 00:07:40,920
Speaker 4: it to sit in a savings account. It's not going

158
00:07:41,000 --> 00:07:42,880
Speaker 4: to happen. You're not going to get that type of

159
00:07:42,920 --> 00:07:46,040
Speaker 4: money to retire early. So those were some of the

160
00:07:46,160 --> 00:07:49,120
Speaker 4: challenges that I guess the biggest challenges that we had

161
00:07:49,160 --> 00:07:50,400
Speaker 4: when we were pursuing fire.

162
00:07:51,480 --> 00:07:53,800
Speaker 1: And you had so you're in your early thirties. You

163
00:07:53,840 --> 00:07:54,880
Speaker 1: have two girls at the time.

164
00:07:54,880 --> 00:07:59,200
Speaker 4: They're young, right, yes, so they were I think around

165
00:07:59,240 --> 00:08:00,000
Speaker 4: three and five.

166
00:08:00,080 --> 00:08:01,600
Speaker 3: I've probably Christine.

167
00:08:01,680 --> 00:08:03,240
Speaker 1: Why didn't you just completed law school?

168
00:08:03,680 --> 00:08:06,280
Speaker 3: Yeah, I was. I actually started law school.

169
00:08:06,320 --> 00:08:09,480
Speaker 4: I went to law school at UCLA, and the girls

170
00:08:09,640 --> 00:08:12,800
Speaker 4: were down in LA with me, and Aman was actually

171
00:08:12,880 --> 00:08:15,360
Speaker 4: working at the time, but he was working in San Francisco,

172
00:08:15,880 --> 00:08:19,040
Speaker 4: and so he was coming back and forth every weekend.

173
00:08:19,120 --> 00:08:22,200
Speaker 4: I mean, I cannot even imagine, you know, I was

174
00:08:22,240 --> 00:08:24,840
Speaker 4: there with the girls at law school, but every single

175
00:08:24,880 --> 00:08:28,320
Speaker 4: weekend a mon was driving down or flying down from

176
00:08:28,360 --> 00:08:32,480
Speaker 4: San Francisco to LA to be with us and support us.

177
00:08:32,559 --> 00:08:34,760
Speaker 4: It's like he didn't even skip a beat. And so

178
00:08:35,320 --> 00:08:37,400
Speaker 4: for us, yeah, that was part of the journey, was

179
00:08:37,480 --> 00:08:40,880
Speaker 4: really trying to manage to get in like two separate households,

180
00:08:41,160 --> 00:08:45,280
Speaker 4: managing little kids on this journey of fire, and really

181
00:08:45,360 --> 00:08:47,640
Speaker 4: trying to make everything work because at the same time

182
00:08:47,640 --> 00:08:50,440
Speaker 4: we're supposed to be saving money and making money.

183
00:08:50,559 --> 00:08:52,920
Speaker 3: So yeah, that was another challenge.

184
00:08:53,240 --> 00:08:55,480
Speaker 1: Your thirties are like that decade, and I'm right where

185
00:08:55,480 --> 00:08:57,120
Speaker 1: you guys were eight years ago. So I am listening

186
00:08:57,120 --> 00:08:59,680
Speaker 1: with these big old yes, tell me what to do,

187
00:09:00,120 --> 00:09:01,679
Speaker 1: because this is the time in your life where year

188
00:09:01,720 --> 00:09:04,480
Speaker 1: of responsibilities get bigger. You have the baby, you get

189
00:09:04,520 --> 00:09:06,960
Speaker 1: the house, maybe you get a dog, you get a

190
00:09:07,120 --> 00:09:09,520
Speaker 1: you know, you move to the burbs or whatnot, and

191
00:09:09,600 --> 00:09:12,120
Speaker 1: you start to I feel the pressure of it all,

192
00:09:12,440 --> 00:09:16,160
Speaker 1: you know, the pressure of providing for my child, creating stability.

193
00:09:16,679 --> 00:09:19,440
Speaker 1: And what I love about you guys is that you said, yeah,

194
00:09:19,440 --> 00:09:21,959
Speaker 1: we have it. I'm sure you guys had a decent life,

195
00:09:22,120 --> 00:09:24,760
Speaker 1: I mean comfortable life. You both had great careers. Christina,

196
00:09:24,800 --> 00:09:26,760
Speaker 1: you went to law school. You also work for the

197
00:09:26,800 --> 00:09:30,199
Speaker 1: federal government, but you chose to like even aim higher

198
00:09:30,360 --> 00:09:32,760
Speaker 1: at the time you when you started to think about

199
00:09:32,760 --> 00:09:35,640
Speaker 1: retiring before forty, where were you at financially? Were you

200
00:09:35,800 --> 00:09:38,640
Speaker 1: just basic four when k investors? Had you guys already

201
00:09:38,640 --> 00:09:41,400
Speaker 1: bought your properties, Had you had experience in the real

202
00:09:41,520 --> 00:09:44,640
Speaker 1: estate or did y'all start from Okay, let's start getting

203
00:09:44,640 --> 00:09:46,640
Speaker 1: into real estate, because I know that was a cornerstone

204
00:09:46,640 --> 00:09:49,760
Speaker 1: of your investing strategy, right, Yeah, So you.

205
00:09:49,679 --> 00:09:52,920
Speaker 2: Know we were doing what most people well I don't

206
00:09:52,920 --> 00:09:53,640
Speaker 2: want to see most people.

207
00:09:53,679 --> 00:09:54,320
Speaker 3: We were.

208
00:09:54,320 --> 00:09:56,280
Speaker 2: We had the fundamentals in place, so we had an

209
00:09:56,320 --> 00:09:59,120
Speaker 2: emergency fund and we were putting away about ten to

210
00:09:59,160 --> 00:10:02,600
Speaker 2: fifteen percent of our our income into our retirement accounts.

211
00:10:03,400 --> 00:10:05,840
Speaker 2: But a lot of the pressures that you talked about,

212
00:10:06,200 --> 00:10:10,240
Speaker 2: if we were to I guess get deeper into some

213
00:10:10,280 --> 00:10:14,120
Speaker 2: of those pressures, we would have failed victim to lifestyle creep.

214
00:10:14,160 --> 00:10:16,800
Speaker 2: And so what started to happen to us in our

215
00:10:16,920 --> 00:10:20,040
Speaker 2: thirties was that we had to make a serious shift.

216
00:10:20,360 --> 00:10:22,760
Speaker 2: And it was good that we had this shift, and

217
00:10:22,840 --> 00:10:25,800
Speaker 2: I had this moment at work when I did, because

218
00:10:26,000 --> 00:10:27,520
Speaker 2: we were at that point where we were going to

219
00:10:27,559 --> 00:10:30,480
Speaker 2: be starting to make more money. A lot of these

220
00:10:31,400 --> 00:10:33,280
Speaker 2: pressures we're going to start to pop up with the

221
00:10:33,360 --> 00:10:36,480
Speaker 2: kids and our with our friends, and you can really

222
00:10:36,520 --> 00:10:39,079
Speaker 2: fall victim to those things like getting a bigger house,

223
00:10:39,240 --> 00:10:43,439
Speaker 2: like driving a nicer car. And so for us at

224
00:10:43,440 --> 00:10:47,560
Speaker 2: that moment, breaking loose of this of this consumer culture

225
00:10:47,840 --> 00:10:50,520
Speaker 2: and deciding to live in a smaller house, to drive

226
00:10:50,559 --> 00:10:53,560
Speaker 2: an older car, and then take whatever extra money that

227
00:10:53,600 --> 00:10:56,600
Speaker 2: we started to make and instead prioritize that money into

228
00:10:56,640 --> 00:11:00,680
Speaker 2: our investments. It was definitely a crossroad for us, and

229
00:11:01,640 --> 00:11:05,040
Speaker 2: we can definitely attribute our success to making that shift.

230
00:11:05,240 --> 00:11:07,000
Speaker 4: Yeah, and I love how you say, Mandy, that you

231
00:11:07,200 --> 00:11:08,920
Speaker 4: know you're sort of at the stage that we were

232
00:11:08,920 --> 00:11:12,679
Speaker 4: eight years ago, right, Because when you're in your thirties,

233
00:11:12,720 --> 00:11:14,920
Speaker 4: you start to notice that you're.

234
00:11:16,320 --> 00:11:18,000
Speaker 3: Maybe potentially making more money.

235
00:11:18,120 --> 00:11:18,280
Speaker 1: Right.

236
00:11:18,320 --> 00:11:21,800
Speaker 4: You may have more responsibilities at your job, you may

237
00:11:21,840 --> 00:11:24,120
Speaker 4: be starting a family, you may be buying a house.

238
00:11:24,240 --> 00:11:27,120
Speaker 4: All of these things are sort of coming to fruition.

239
00:11:27,240 --> 00:11:29,600
Speaker 4: Things that you may have wanted in your twenties, you're

240
00:11:29,640 --> 00:11:32,040
Speaker 4: starting to get more and more of them in your thirties.

241
00:11:32,520 --> 00:11:35,480
Speaker 4: And so that is one of the big things I

242
00:11:35,520 --> 00:11:41,360
Speaker 4: think for people pursuing fire is really not getting attached

243
00:11:41,360 --> 00:11:44,400
Speaker 4: to or not falling down that whole of lifestyle creep.

244
00:11:44,679 --> 00:11:47,000
Speaker 4: As you start to get more money. It's not this

245
00:11:47,080 --> 00:11:48,840
Speaker 4: concept that, oh, you have more money so that you

246
00:11:48,880 --> 00:11:52,000
Speaker 4: can spend more money. It's this idea that when you're

247
00:11:52,040 --> 00:11:55,600
Speaker 4: making this more money, you were able to live off

248
00:11:55,640 --> 00:11:58,079
Speaker 4: of less money before. When you make more money, it

249
00:11:58,080 --> 00:11:59,719
Speaker 4: doesn't mean that you have to spend more money. The

250
00:11:59,760 --> 00:12:02,200
Speaker 4: idea idea is that you can save that money and

251
00:12:02,240 --> 00:12:05,040
Speaker 4: then invest that money, and then that is starting to

252
00:12:05,160 --> 00:12:08,120
Speaker 4: grow during your fire journey. And you don't even have

253
00:12:08,200 --> 00:12:10,160
Speaker 4: to have the goal of retiring early. It could just

254
00:12:10,200 --> 00:12:12,800
Speaker 4: be that you want to be financially independent so that

255
00:12:12,920 --> 00:12:15,120
Speaker 4: when you get older, money is not going to be

256
00:12:15,120 --> 00:12:17,360
Speaker 4: an issue for you. You can do whatever type of

257
00:12:17,440 --> 00:12:19,560
Speaker 4: job makes you happy, and you don't have to think,

258
00:12:19,760 --> 00:12:21,319
Speaker 4: I can't have this job because I'm not going to

259
00:12:21,360 --> 00:12:22,280
Speaker 4: make enough money to.

260
00:12:23,920 --> 00:12:26,000
Speaker 3: You know, pay all the bills for my family and

261
00:12:26,040 --> 00:12:28,360
Speaker 3: things like that. So if you have this idea when

262
00:12:28,360 --> 00:12:29,520
Speaker 3: you're in the thirties.

263
00:12:29,160 --> 00:12:34,120
Speaker 4: Of not falling down that path of lifestyle creep, then

264
00:12:34,160 --> 00:12:36,480
Speaker 4: you're way ahead of the game in terms of where

265
00:12:36,520 --> 00:12:37,240
Speaker 4: other people are.

266
00:12:37,840 --> 00:12:38,040
Speaker 2: Yeah.

267
00:12:38,080 --> 00:12:39,560
Speaker 1: I just got to get my husband on board with that.

268
00:12:40,240 --> 00:12:42,160
Speaker 6: So there's an African proverb that my dad would say

269
00:12:42,160 --> 00:12:45,040
Speaker 6: that you cut your coat according to your size. You know,

270
00:12:45,160 --> 00:12:47,600
Speaker 6: that's so many people they're like, oh, I'm bigger, now

271
00:12:47,600 --> 00:12:49,000
Speaker 6: I need a bigger coat, or.

272
00:12:48,920 --> 00:12:50,880
Speaker 5: Like I'm or they you know what I mean.

273
00:12:50,920 --> 00:12:53,920
Speaker 6: You keep increasing and so it just you're keeping the

274
00:12:53,960 --> 00:12:56,439
Speaker 6: pace of the increase, not realizing like do I really

275
00:12:56,480 --> 00:12:59,600
Speaker 6: need to continue to increase. I mean, I'm a cheapo,

276
00:12:59,760 --> 00:13:02,080
Speaker 6: so I was like living my cheapest life when I

277
00:13:02,120 --> 00:13:02,520
Speaker 6: was thirty.

278
00:13:03,240 --> 00:13:05,960
Speaker 5: So also I lost my job then.

279
00:13:06,240 --> 00:13:08,440
Speaker 6: But one thing I really want to know, because this

280
00:13:08,480 --> 00:13:10,839
Speaker 6: is something that I struggled with when I was in

281
00:13:10,840 --> 00:13:14,200
Speaker 6: my early thirties and I was starting my business, is like,

282
00:13:14,280 --> 00:13:16,400
Speaker 6: what do you do for insurance? Because honestly, back then

283
00:13:16,480 --> 00:13:19,560
Speaker 6: my insurance was yoga, water and prayer.

284
00:13:19,880 --> 00:13:22,040
Speaker 5: So what do you do for insurance? What do you

285
00:13:22,080 --> 00:13:23,000
Speaker 5: do for insurance?

286
00:13:23,800 --> 00:13:28,280
Speaker 3: Was it in that order? Tiffany? First, I think you

287
00:13:28,320 --> 00:13:30,000
Speaker 3: know that is one of the big things too.

288
00:13:30,280 --> 00:13:34,800
Speaker 4: You know, when you are accumulating more things, you have

289
00:13:34,880 --> 00:13:38,280
Speaker 4: to understand that you need insurance in place to protect

290
00:13:38,280 --> 00:13:38,920
Speaker 4: those things.

291
00:13:39,200 --> 00:13:42,000
Speaker 3: You know that you do not want.

292
00:13:41,880 --> 00:13:44,959
Speaker 4: To be in a worst case scenario where something happens

293
00:13:44,960 --> 00:13:46,800
Speaker 4: and you're not insurance. It could be your house, it

294
00:13:46,800 --> 00:13:49,240
Speaker 4: could be health insurance. It could be car insurance, it

295
00:13:49,240 --> 00:13:51,920
Speaker 4: could be any of these. You know, for you, Tiffany,

296
00:13:51,920 --> 00:13:54,560
Speaker 4: if you're starting a business having business insurance when you

297
00:13:54,559 --> 00:13:55,280
Speaker 4: were in your thirties.

298
00:13:55,280 --> 00:13:58,160
Speaker 3: But the idea is that insurance is.

299
00:13:58,080 --> 00:14:02,280
Speaker 4: Supposed to prevent you from losing all of your assets,

300
00:14:02,440 --> 00:14:08,240
Speaker 4: because how terrible would it be while you're gaining more money,

301
00:14:08,520 --> 00:14:11,520
Speaker 4: you have more assets, and something happens and you're not

302
00:14:11,679 --> 00:14:15,560
Speaker 4: properly insured and then you can lose everything. Like right

303
00:14:15,640 --> 00:14:19,960
Speaker 4: before we fired a Mond, we were in the States

304
00:14:20,400 --> 00:14:24,880
Speaker 4: and a mon got just this horrible, horrible food poisoning.

305
00:14:24,880 --> 00:14:26,560
Speaker 4: And I'm not just saying like he was throwing up,

306
00:14:26,640 --> 00:14:29,440
Speaker 4: he didn't feel well. He was hospitalized for a week.

307
00:14:29,760 --> 00:14:31,640
Speaker 2: It was it was awful.

308
00:14:31,720 --> 00:14:32,320
Speaker 3: It was really bad.

309
00:14:32,360 --> 00:14:34,120
Speaker 4: I mean, I don't even want to go to how

310
00:14:34,160 --> 00:14:37,480
Speaker 4: bad it was. But it was worst case scenario. And

311
00:14:38,520 --> 00:14:43,400
Speaker 4: thank god we were insured because the hospital bill was insane.

312
00:14:43,400 --> 00:14:45,640
Speaker 4: It was an insane amount of money, and then we

313
00:14:45,680 --> 00:14:48,080
Speaker 4: still had to pay our portion of it. But if

314
00:14:48,120 --> 00:14:50,880
Speaker 4: we had not been insured, and this was right before

315
00:14:50,880 --> 00:14:53,440
Speaker 4: we were firing too, if we would not have been insured,

316
00:14:54,520 --> 00:14:57,840
Speaker 4: there would have been a huge impact on our wealth.

317
00:14:58,080 --> 00:15:00,520
Speaker 4: And so I think, you know, a lot of people

318
00:15:00,960 --> 00:15:04,000
Speaker 4: when they're younger, they want to hope for the best.

319
00:15:04,040 --> 00:15:06,160
Speaker 4: They think they're healthy. You know, they don't need to

320
00:15:06,160 --> 00:15:09,000
Speaker 4: be insured because nothing's going to happen. But even here,

321
00:15:09,120 --> 00:15:12,120
Speaker 4: COVID is a great example of things that can happen

322
00:15:12,160 --> 00:15:14,760
Speaker 4: that are unpredictable, and so you have to make sure

323
00:15:14,800 --> 00:15:15,880
Speaker 4: you're properly insured.

324
00:15:16,320 --> 00:15:16,800
Speaker 5: We have.

325
00:15:16,880 --> 00:15:18,880
Speaker 1: We mentioned the fact that y'all live in Portugal, yet

326
00:15:18,880 --> 00:15:21,680
Speaker 1: can we just reiterate that a y'all didn't just quit

327
00:15:21,720 --> 00:15:24,680
Speaker 1: your jobs and you know, kick back in the US.

328
00:15:24,720 --> 00:15:27,880
Speaker 1: You were like, no, let's take on a whole new country, Portugal.

329
00:15:28,240 --> 00:15:30,480
Speaker 1: Talk to me about especially when it comes to healthcare.

330
00:15:30,680 --> 00:15:33,320
Speaker 1: I've watched this video already on your YouTube channel. I've

331
00:15:33,320 --> 00:15:35,120
Speaker 1: watched them all, so I'm just trying to pretend like

332
00:15:35,160 --> 00:15:36,920
Speaker 1: I haven't been stocking y'all for the past three weeks.

333
00:15:36,960 --> 00:15:39,280
Speaker 1: But anyway, talk about the cost of health care in

334
00:15:39,320 --> 00:15:42,200
Speaker 1: Portugal and do you think that you could like, was

335
00:15:43,000 --> 00:15:45,400
Speaker 1: Portugal the key element of why you were able to

336
00:15:45,480 --> 00:15:47,560
Speaker 1: retire early because of the lower cost of living? I

337
00:15:47,600 --> 00:15:49,360
Speaker 1: don't even know if there is a lower cost of living,

338
00:15:49,400 --> 00:15:51,440
Speaker 1: But do you think you would have been able to

339
00:15:51,480 --> 00:15:53,520
Speaker 1: retire early in the US or do you decide to

340
00:15:53,520 --> 00:15:57,080
Speaker 1: go out of the country for those financial reasons? And yeah,

341
00:15:57,200 --> 00:15:59,840
Speaker 1: to Tiffany's question about health care costs, how are you

342
00:16:00,440 --> 00:16:02,600
Speaker 1: covering your healthcare while in Lisbon?

343
00:16:02,840 --> 00:16:06,320
Speaker 2: Yeah, so I'll go back to kind of when we

344
00:16:06,320 --> 00:16:09,400
Speaker 2: were first calculating our financial independence number, we based it

345
00:16:09,480 --> 00:16:12,760
Speaker 2: off of the location that we planned on retiring in.

346
00:16:13,120 --> 00:16:16,600
Speaker 2: And when we did that calculation, we had identified a

347
00:16:16,640 --> 00:16:19,800
Speaker 2: couple of different numbers based off of different areas in

348
00:16:19,800 --> 00:16:22,280
Speaker 2: the world that we were interested in, but we had

349
00:16:22,480 --> 00:16:24,560
Speaker 2: one big number that was based off of retiring in

350
00:16:24,600 --> 00:16:27,880
Speaker 2: the San Francisco Bay Area because that's our hometown and

351
00:16:28,280 --> 00:16:30,160
Speaker 2: we know that our children may eventually want to go

352
00:16:30,240 --> 00:16:32,760
Speaker 2: back to the US, and so we wanted to base

353
00:16:32,760 --> 00:16:35,560
Speaker 2: our number off of the highest number, and as a

354
00:16:35,560 --> 00:16:38,920
Speaker 2: part of that number definitely included healthcare. And I remember

355
00:16:39,400 --> 00:16:41,920
Speaker 2: looking at healthcare plans, and that's one of the things

356
00:16:41,960 --> 00:16:46,280
Speaker 2: that I think holds people back from leaving their jobs,

357
00:16:46,360 --> 00:16:51,360
Speaker 2: especially government employees, is the good healthcare. And so for us,

358
00:16:51,840 --> 00:16:55,840
Speaker 2: we had to break from those golden handcuffs by including

359
00:16:55,880 --> 00:16:59,960
Speaker 2: the cost of healthcare in the US and our fire number.

360
00:17:00,600 --> 00:17:04,640
Speaker 2: And so we you know, we did that. But while

361
00:17:04,640 --> 00:17:07,280
Speaker 2: we were on our journey, we stayed the course, even

362
00:17:07,280 --> 00:17:09,160
Speaker 2: though we could have left a lot earlier and moved

363
00:17:09,160 --> 00:17:11,480
Speaker 2: to a lower cost of living area. We met our

364
00:17:11,520 --> 00:17:13,879
Speaker 2: San Francisco Bay Area number, but in the end, we

365
00:17:13,960 --> 00:17:17,200
Speaker 2: chose we chose Lisbon, and it has been a pleasant

366
00:17:17,200 --> 00:17:21,000
Speaker 2: surprise as far as the cost of healthcare because for

367
00:17:21,119 --> 00:17:23,680
Speaker 2: our family of four, our health care is less than

368
00:17:23,680 --> 00:17:25,600
Speaker 2: two thousand dollars a year.

369
00:17:26,119 --> 00:17:29,320
Speaker 3: A year, yes, isn't that crazy?

370
00:17:29,359 --> 00:17:33,439
Speaker 2: In California it would have been a month, right, like a.

371
00:17:35,040 --> 00:17:35,760
Speaker 1: You know families.

372
00:17:36,119 --> 00:17:37,960
Speaker 4: Yeah, hey, let me tell you this though. It's like

373
00:17:38,240 --> 00:17:41,359
Speaker 4: we have been to the hospitals here already too. It's

374
00:17:41,440 --> 00:17:44,440
Speaker 4: like we've gone for the girls have asthma, so they've

375
00:17:44,440 --> 00:17:46,480
Speaker 4: had the minor asthma things that we have to go

376
00:17:46,520 --> 00:17:49,840
Speaker 4: get treated at the hospital. We've even had dental work.

377
00:17:49,880 --> 00:17:52,440
Speaker 4: Actually a mon was at the dentist earlier. Today Sanoa

378
00:17:52,480 --> 00:17:54,320
Speaker 4: has braces.

379
00:17:53,880 --> 00:17:55,840
Speaker 2: But I might get me some braces just because.

380
00:18:00,080 --> 00:18:03,160
Speaker 4: But you know, we have had such an incredible experience

381
00:18:03,160 --> 00:18:04,040
Speaker 4: with the healthcare here.

382
00:18:04,080 --> 00:18:06,880
Speaker 3: I mean there's nothing. We don't have any language barriers.

383
00:18:07,040 --> 00:18:09,360
Speaker 4: When we go to speak to the doctors, to the nurses,

384
00:18:09,480 --> 00:18:12,440
Speaker 4: to the staff, everything is so smooth and we just

385
00:18:12,480 --> 00:18:15,280
Speaker 4: show them our card and sometimes we have a very

386
00:18:15,320 --> 00:18:17,760
Speaker 4: small copay and other times it's like, oh, we don't

387
00:18:17,760 --> 00:18:19,760
Speaker 4: have anything at all. Just you walk in and you

388
00:18:19,800 --> 00:18:21,840
Speaker 4: walk out. It is so simple.

389
00:18:21,960 --> 00:18:29,159
Speaker 6: Yes, wow, Like my husband works for the Mandy your

390
00:18:29,200 --> 00:18:31,640
Speaker 6: husband works for the city, right, and so does mine

391
00:18:32,480 --> 00:18:33,080
Speaker 6: and that.

392
00:18:33,160 --> 00:18:35,680
Speaker 1: Insurance for the federal government. Yeah.

393
00:18:35,760 --> 00:18:38,399
Speaker 6: So, and my husband works for the state. Well, he

394
00:18:38,480 --> 00:18:40,639
Speaker 6: works for the city, but his pension and everything is

395
00:18:40,680 --> 00:18:43,760
Speaker 6: through his state. And that's been the thing that's been

396
00:18:43,840 --> 00:18:47,360
Speaker 6: like holding like a pension necessarily us because yes, well

397
00:18:47,359 --> 00:18:49,480
Speaker 6: it's not the pension honestly, because I could get like,

398
00:18:49,560 --> 00:18:52,159
Speaker 6: you know, we make more than enough that I'm not

399
00:18:52,160 --> 00:18:55,159
Speaker 6: worried about that the pension payout. It's more so his

400
00:18:55,280 --> 00:18:59,000
Speaker 6: insurance is so amazing, especially in the United States, especially

401
00:18:59,040 --> 00:19:01,560
Speaker 6: in the East Coast, because I live in Jersey and

402
00:19:02,200 --> 00:19:04,560
Speaker 6: it's like, eh, he would love to leave any day now,

403
00:19:04,600 --> 00:19:06,720
Speaker 6: but he's got about five more years. And it's like

404
00:19:06,800 --> 00:19:09,960
Speaker 6: the cost of health insurance the United States, it's so

405
00:19:10,080 --> 00:19:12,080
Speaker 6: much so that it's like, bruh, when.

406
00:19:11,960 --> 00:19:13,399
Speaker 5: Need to take that with us? Because you could take

407
00:19:13,400 --> 00:19:15,199
Speaker 5: it with you. So I totally get it.

408
00:19:15,200 --> 00:19:17,520
Speaker 6: And yeah, but you know, I don't I wouldn't mind

409
00:19:17,560 --> 00:19:19,440
Speaker 6: moving to Portugal, but I know he wouldn't want to

410
00:19:19,480 --> 00:19:19,679
Speaker 6: do that.

411
00:19:20,440 --> 00:19:22,840
Speaker 4: But yeah, I know so many people have seen our

412
00:19:22,920 --> 00:19:27,119
Speaker 4: channel and we have videos on Portugal now and everyone's like,

413
00:19:27,320 --> 00:19:27,800
Speaker 4: I never.

414
00:19:27,640 --> 00:19:28,880
Speaker 3: Even thought about Portugal.

415
00:19:28,960 --> 00:19:30,919
Speaker 4: Now Portugal is at the top of my list and

416
00:19:30,960 --> 00:19:34,639
Speaker 4: we're like man, Portugal is amazing. It's like this hidden

417
00:19:34,720 --> 00:19:37,480
Speaker 4: secret and it's not so hidden anymore. I think more

418
00:19:37,520 --> 00:19:40,879
Speaker 4: and more people are finding out about it. But just

419
00:19:41,520 --> 00:19:45,280
Speaker 4: I mean the healthcare alone is something to think about

420
00:19:45,400 --> 00:19:49,480
Speaker 4: because just moving here and having the lifestyle or the

421
00:19:49,520 --> 00:19:53,359
Speaker 4: pace that they have here in Portugal, it's just amazing.

422
00:19:53,840 --> 00:19:56,359
Speaker 1: Well, talk to me about the key for me is

423
00:19:56,520 --> 00:19:59,280
Speaker 1: I mean healthcare. And it's fascinating to hear what you

424
00:19:59,280 --> 00:20:01,919
Speaker 1: guys are spending on healthcare and Portugal versus the US.

425
00:20:02,240 --> 00:20:04,439
Speaker 1: But let's go back again to the early days. What

426
00:20:04,520 --> 00:20:07,199
Speaker 1: were some of the and so when you described how

427
00:20:07,280 --> 00:20:09,360
Speaker 1: y'all were saving back then, I think that really resonates

428
00:20:09,400 --> 00:20:11,880
Speaker 1: with me because that's what I had been doing since

429
00:20:11,920 --> 00:20:14,160
Speaker 1: in my early twenties, saving that ten to fifteen percent

430
00:20:14,200 --> 00:20:16,159
Speaker 1: and my four oh one K and feeling very smart

431
00:20:16,160 --> 00:20:18,840
Speaker 1: about it. But what was the first step y'all took

432
00:20:18,880 --> 00:20:21,840
Speaker 1: to ratchet up your investments? How did you start investing?

433
00:20:22,119 --> 00:20:24,760
Speaker 1: Did you just max out your four one ks? When

434
00:20:24,800 --> 00:20:26,800
Speaker 1: you max them out? Where did you go from there?

435
00:20:27,119 --> 00:20:29,639
Speaker 1: Can you walk us through like laddering up your investments

436
00:20:29,680 --> 00:20:32,240
Speaker 1: and build and really what it took to build and

437
00:20:32,280 --> 00:20:34,080
Speaker 1: grow your wealth in your thirties.

438
00:20:34,080 --> 00:20:39,200
Speaker 2: Oh certainly. So you know, it started with having our

439
00:20:39,320 --> 00:20:42,280
Speaker 2: fire number in place, and then so with that number,

440
00:20:42,400 --> 00:20:44,800
Speaker 2: we were able to kind of figure out what we

441
00:20:44,880 --> 00:20:49,119
Speaker 2: needed to get to as far as a savings rate

442
00:20:49,160 --> 00:20:50,960
Speaker 2: in order to retire in ten years based off of

443
00:20:51,000 --> 00:20:54,679
Speaker 2: the returns in the market or our returns in real estate.

444
00:20:55,240 --> 00:20:58,479
Speaker 2: So with that number in mind, we just tried to

445
00:20:59,400 --> 00:21:02,400
Speaker 2: get our safe rate up, and I'll say that our

446
00:21:02,480 --> 00:21:05,359
Speaker 2: savings rate by the end was as high as seventy percent.

447
00:21:06,040 --> 00:21:08,720
Speaker 2: So we went from saving ten to fifteen all the

448
00:21:08,760 --> 00:21:11,640
Speaker 2: way up to seventy percent. But we didn't do it overnight.

449
00:21:12,119 --> 00:21:15,080
Speaker 2: We just got one percent better as much as we

450
00:21:15,080 --> 00:21:17,800
Speaker 2: could and as soon as we could. So, you know,

451
00:21:17,880 --> 00:21:21,320
Speaker 2: if we just were able to lower our bills and

452
00:21:21,400 --> 00:21:25,480
Speaker 2: increase our salary, and then that gap grew our savings rate.

453
00:21:25,840 --> 00:21:29,400
Speaker 2: And so with that additional money that we were saving

454
00:21:29,560 --> 00:21:33,679
Speaker 2: and making, we were prioritizing our investments. And we have

455
00:21:33,800 --> 00:21:37,600
Speaker 2: something called a pay yourself first budget, but it's really

456
00:21:37,640 --> 00:21:41,680
Speaker 2: heavy on paying yourself into your investment accounts. And so

457
00:21:41,760 --> 00:21:45,800
Speaker 2: we started with our tax advantage accounts first and putting

458
00:21:45,800 --> 00:21:48,199
Speaker 2: as much money into those accounts because those are the

459
00:21:48,240 --> 00:21:52,879
Speaker 2: real accounts that you can really see wealth growth in

460
00:21:53,800 --> 00:21:56,679
Speaker 2: because of all the tax incentives and tax advantages, and

461
00:21:56,760 --> 00:21:59,280
Speaker 2: so that was a big priority was maxing out our

462
00:21:59,280 --> 00:22:00,320
Speaker 2: tax advantage counts.

463
00:22:00,720 --> 00:22:03,639
Speaker 1: Now you're talking about your four oh one KR. I

464
00:22:03,680 --> 00:22:07,520
Speaker 1: know you guys use an HSA, what have tax advantaged accounts?

465
00:22:07,880 --> 00:22:12,800
Speaker 2: So we talk about the basically the four accounts that

466
00:22:12,880 --> 00:22:16,119
Speaker 2: we call the four pillars of fire. For us was

467
00:22:16,160 --> 00:22:19,280
Speaker 2: the four oh one K, the HSA, and the roth IRA.

468
00:22:19,760 --> 00:22:23,840
Speaker 2: So maxing those out at a minimum was really big

469
00:22:23,880 --> 00:22:28,520
Speaker 2: for us. And then after that we moved to basically

470
00:22:28,520 --> 00:22:32,800
Speaker 2: a regular brokerage account, so just investing in Vanguard and

471
00:22:32,840 --> 00:22:37,399
Speaker 2: investing in low cost ETFs and index funds at the

472
00:22:37,440 --> 00:22:41,360
Speaker 2: same time that we were also investing in the stock market.

473
00:22:41,680 --> 00:22:44,200
Speaker 2: We had read all of these books on real estate

474
00:22:44,240 --> 00:22:46,760
Speaker 2: investing and really type people to read something and then

475
00:22:46,960 --> 00:22:48,919
Speaker 2: to take action with it. So we had gotten all

476
00:22:48,920 --> 00:22:51,239
Speaker 2: the real estate concepts down as much as we were

477
00:22:51,240 --> 00:22:53,320
Speaker 2: going to get them down, and then we went to work.

478
00:22:53,800 --> 00:22:56,760
Speaker 2: So we took an FHA loan and we bought our

479
00:22:56,840 --> 00:22:59,000
Speaker 2: first house in the San Fransco b area with three

480
00:22:59,000 --> 00:23:01,159
Speaker 2: percent down and it was it was it was a

481
00:23:01,160 --> 00:23:03,159
Speaker 2: fixer upper, and we did something called a live and

482
00:23:03,200 --> 00:23:05,680
Speaker 2: flip where we lived in the house, fixed it up,

483
00:23:06,000 --> 00:23:08,240
Speaker 2: got equity in that home, and then use that equity

484
00:23:08,560 --> 00:23:12,400
Speaker 2: to buy other properties and with an FHA loan. That's

485
00:23:12,520 --> 00:23:14,960
Speaker 2: the that's the best way for someone to get started

486
00:23:15,240 --> 00:23:17,200
Speaker 2: in real estate is doing something like a live and

487
00:23:17,240 --> 00:23:19,680
Speaker 2: flip because after you've lived in that home for three years,

488
00:23:20,000 --> 00:23:23,399
Speaker 2: you can sell that home and keep one hundred percent

489
00:23:23,480 --> 00:23:26,159
Speaker 2: of your profits up to a certain amount depending on

490
00:23:26,160 --> 00:23:28,760
Speaker 2: if you're married or single. And so that was that

491
00:23:28,840 --> 00:23:30,440
Speaker 2: was a big game changer for us as well.

492
00:23:31,119 --> 00:23:33,560
Speaker 4: So I think, really, you know, there's there's different ways

493
00:23:33,600 --> 00:23:36,840
Speaker 4: that you can reach financial independence or financial independence and

494
00:23:36,840 --> 00:23:37,400
Speaker 4: retire early.

495
00:23:37,480 --> 00:23:41,200
Speaker 3: So you could do it through investing in the stock market.

496
00:23:41,400 --> 00:23:43,520
Speaker 4: So in the stock market, you know, if that is

497
00:23:43,880 --> 00:23:47,520
Speaker 4: someone's plan, then they absolutely want to make sure that

498
00:23:47,560 --> 00:23:51,040
Speaker 4: they're maxing out their tax advantage accounts first, because then

499
00:23:51,080 --> 00:23:53,560
Speaker 4: you're protecting more of your money from it being taken

500
00:23:53,600 --> 00:23:56,199
Speaker 4: away by taxes, and by protecting it more, then you

501
00:23:56,240 --> 00:23:58,640
Speaker 4: can allow it to grow more. So the idea though

502
00:23:58,760 --> 00:24:00,560
Speaker 4: is that you have to max out that account, but

503
00:24:00,600 --> 00:24:02,680
Speaker 4: you have to go beyond that. So once you max

504
00:24:02,720 --> 00:24:05,280
Speaker 4: out your tax advantage accounts, then the idea is that

505
00:24:05,320 --> 00:24:07,879
Speaker 4: you open up a traditional brokerage account and you start

506
00:24:07,880 --> 00:24:10,960
Speaker 4: throwing money that there as well. So there's one way

507
00:24:11,040 --> 00:24:13,800
Speaker 4: to reach financial independence. But then the other way is

508
00:24:13,840 --> 00:24:17,600
Speaker 4: also through real estate. If you want to start investing

509
00:24:17,680 --> 00:24:21,240
Speaker 4: in real estate and putting money into different real estate

510
00:24:22,320 --> 00:24:26,920
Speaker 4: real estate properties and creating rentals and creating rental income,

511
00:24:27,000 --> 00:24:29,199
Speaker 4: that is another way. Or you can just invest in

512
00:24:29,240 --> 00:24:31,000
Speaker 4: real estate and do like what a mon said is

513
00:24:31,040 --> 00:24:34,800
Speaker 4: basically flipping the properties and then eventually selling them and

514
00:24:34,840 --> 00:24:37,040
Speaker 4: taking the profit from that. Or you can do a

515
00:24:37,040 --> 00:24:41,040
Speaker 4: combination of real estate and investing in the stock market.

516
00:24:41,320 --> 00:24:44,240
Speaker 4: But it all comes down really to these fundamental pieces.

517
00:24:44,280 --> 00:24:47,680
Speaker 4: When you're pursuing fire, is that the idea is that

518
00:24:47,960 --> 00:24:50,800
Speaker 4: somehow you have to find ways to try and make

519
00:24:50,840 --> 00:24:54,880
Speaker 4: more money. And it can be through getting a more

520
00:24:54,920 --> 00:24:57,000
Speaker 4: money through your salary, or it can be doing different

521
00:24:57,040 --> 00:24:59,320
Speaker 4: side hustles, but then it's saving more money and then

522
00:24:59,359 --> 00:25:01,760
Speaker 4: it's focusing on that investment piece as well.

523
00:25:02,119 --> 00:25:05,520
Speaker 1: Y'all side hustles. Literally, I get so many giggles out

524
00:25:05,560 --> 00:25:09,359
Speaker 1: of hearing about how you guys found creative ways to

525
00:25:09,359 --> 00:25:10,920
Speaker 1: build wealth. First of all, I'm like, where do you

526
00:25:10,960 --> 00:25:13,680
Speaker 1: get the energy with two bait like two little girls,

527
00:25:13,800 --> 00:25:16,840
Speaker 1: and y'all are like what building furniture out of wine

528
00:25:16,880 --> 00:25:23,240
Speaker 1: crates and digging through ikeias reduced like returns bins and

529
00:25:23,280 --> 00:25:26,720
Speaker 1: like selling flipping furniture online. Talk about how y'all brought

530
00:25:26,720 --> 00:25:29,240
Speaker 1: in extra money and like what was the most meaningful

531
00:25:29,280 --> 00:25:31,840
Speaker 1: source of extra income y'all created?

532
00:25:32,240 --> 00:25:34,640
Speaker 2: You know, we always talk about this because looking back

533
00:25:34,680 --> 00:25:36,639
Speaker 2: on it, we laugh about some of the things that

534
00:25:36,680 --> 00:25:39,680
Speaker 2: we did. But for us, it's weird. When you're on

535
00:25:39,760 --> 00:25:45,720
Speaker 2: this journey, it's like your mind like produces income out

536
00:25:45,920 --> 00:25:48,280
Speaker 2: out of nowhere. There's literally money in the streets and

537
00:25:48,320 --> 00:25:50,840
Speaker 2: you just have to go pick it up. So, actually,

538
00:25:50,840 --> 00:25:52,920
Speaker 2: someone sent us a message today because one of our

539
00:25:53,040 --> 00:25:58,399
Speaker 2: side hustles was we had Christina was writing tooth fairy

540
00:25:58,520 --> 00:26:01,280
Speaker 2: letters on Etsy did an Etsy store.

541
00:26:01,560 --> 00:26:02,679
Speaker 1: And it was my favorite.

542
00:26:03,040 --> 00:26:05,480
Speaker 2: It was like it was it was so funny and

543
00:26:05,520 --> 00:26:07,080
Speaker 2: when she when she came up with this idea, I

544
00:26:07,119 --> 00:26:09,640
Speaker 2: was like, people really people really buying letters like that,

545
00:26:09,640 --> 00:26:10,679
Speaker 2: they're families that do that.

546
00:26:11,359 --> 00:26:11,520
Speaker 1: Yeah.

547
00:26:11,600 --> 00:26:14,359
Speaker 4: But but someone actually reached out to reached out to

548
00:26:14,440 --> 00:26:17,439
Speaker 4: us today, which is so funny, asking us about, you know,

549
00:26:17,480 --> 00:26:19,160
Speaker 4: the details of it, how do you do it? How

550
00:26:19,160 --> 00:26:21,120
Speaker 4: are you sending it out? Are you sending it out

551
00:26:21,160 --> 00:26:23,199
Speaker 4: already pre packaged? Do you send it out to the

552
00:26:23,200 --> 00:26:25,200
Speaker 4: parent or to the child? So it was so interesting

553
00:26:25,200 --> 00:26:28,040
Speaker 4: because you know, people are interested in finding these new

554
00:26:28,040 --> 00:26:30,280
Speaker 4: ways to make money, and so I just thought, you know,

555
00:26:30,359 --> 00:26:33,120
Speaker 4: this is a creative thing. But like you said, we

556
00:26:33,119 --> 00:26:36,480
Speaker 4: we uh, we're not too shy to go dumpster diving.

557
00:26:36,560 --> 00:26:38,720
Speaker 4: We did that at one point, and I'll tell you

558
00:26:38,760 --> 00:26:42,800
Speaker 4: the specific specifics of that. We were driving around in Oakland,

559
00:26:43,440 --> 00:26:45,679
Speaker 4: which is in the San Francisco Bay area, and we

560
00:26:45,880 --> 00:26:49,600
Speaker 4: drove past this huge dumpster and it had all of

561
00:26:49,640 --> 00:26:52,720
Speaker 4: these I don't guess, not brand new wine crates, but

562
00:26:52,720 --> 00:26:55,119
Speaker 4: it had all of these wine crates in them, and

563
00:26:55,160 --> 00:26:56,240
Speaker 4: they were so beautiful.

564
00:26:56,240 --> 00:26:58,520
Speaker 3: It's like these wine boxes.

565
00:26:58,600 --> 00:27:01,399
Speaker 4: Yes, And there was a liquor store that had dumped

566
00:27:01,400 --> 00:27:04,840
Speaker 4: them all out into this garb, into this dumpster getting

567
00:27:04,920 --> 00:27:06,960
Speaker 4: rid of them. And we went into the to the

568
00:27:07,000 --> 00:27:08,960
Speaker 4: liquor store and we said, are you dumping these? Are

569
00:27:08,960 --> 00:27:10,120
Speaker 4: you you don't want these?

570
00:27:10,359 --> 00:27:12,359
Speaker 3: Can we have them? And so they said yes.

571
00:27:12,720 --> 00:27:16,800
Speaker 4: So we filled up our car with so many wine

572
00:27:16,800 --> 00:27:18,840
Speaker 4: boxes and then we took them home. In our garage

573
00:27:18,960 --> 00:27:21,840
Speaker 4: was just piled full of wine boxes and we ended

574
00:27:21,920 --> 00:27:24,520
Speaker 4: up selling those. We got them for free, and we

575
00:27:24,640 --> 00:27:27,679
Speaker 4: ended up selling them on like Facebook and Craigslist, and

576
00:27:27,800 --> 00:27:30,560
Speaker 4: people were just it was so easy to sell because

577
00:27:30,600 --> 00:27:33,280
Speaker 4: people thought they were really beautiful wine boxes and they

578
00:27:33,280 --> 00:27:35,600
Speaker 4: couldn't find them anywhere, and people were willing to pay

579
00:27:35,680 --> 00:27:36,119
Speaker 4: us for that.

580
00:27:36,680 --> 00:27:36,920
Speaker 5: Yeah.

581
00:27:36,920 --> 00:27:39,160
Speaker 1: I was like a bougie, broke hipster ten years ago

582
00:27:39,320 --> 00:27:42,000
Speaker 1: living in Queens with my boyfriend at the time, my husband. Now,

583
00:27:42,359 --> 00:27:44,600
Speaker 1: we were the dumb dumbs. Not the dumb dumbs. We

584
00:27:44,600 --> 00:27:47,240
Speaker 1: were the ones buying wine, trying to find wine crates

585
00:27:47,240 --> 00:27:50,399
Speaker 1: on Craigslist and begging liquor stores to give them to us.

586
00:27:50,480 --> 00:27:53,600
Speaker 1: Y'all stumbled upon a little jackpot right there. I was like, oh,

587
00:27:53,600 --> 00:27:54,199
Speaker 1: I would love that.

588
00:27:54,960 --> 00:27:55,560
Speaker 3: Yeah, we did that.

589
00:27:55,640 --> 00:27:57,959
Speaker 4: I mean we also, like Aman said, we had flipped

590
00:27:57,960 --> 00:28:01,520
Speaker 4: our properties. So one of the things we found at Ikea,

591
00:28:01,800 --> 00:28:03,840
Speaker 4: which is I feel like Ikea is everywhere. I mean

592
00:28:03,880 --> 00:28:07,160
Speaker 4: there's even an Ikea. There's like five Ikeas in Portugal here,

593
00:28:07,200 --> 00:28:10,639
Speaker 4: but in Ikea they have this as is section. So

594
00:28:10,720 --> 00:28:13,280
Speaker 4: that was another one of our side hustles. We discovered this.

595
00:28:13,880 --> 00:28:16,000
Speaker 4: I'm not saying like we're the only ones who've discovered it.

596
00:28:16,040 --> 00:28:20,320
Speaker 4: But we discovered that you can buy these items in

597
00:28:20,359 --> 00:28:23,360
Speaker 4: the as is section and they're anywhere.

598
00:28:23,359 --> 00:28:26,280
Speaker 3: I mean, you can get things for ninety percent off, yes,

599
00:28:26,359 --> 00:28:27,960
Speaker 3: up to ninety percent off, or.

600
00:28:27,880 --> 00:28:30,560
Speaker 4: If they're you know, if they're no longer having a

601
00:28:30,600 --> 00:28:34,680
Speaker 4: certain product, like an entire fridge or entire kitchen display,

602
00:28:35,000 --> 00:28:37,320
Speaker 4: you can get for up to ninety percent off. So

603
00:28:37,440 --> 00:28:41,240
Speaker 4: we started buying these really nice items in Ikea and

604
00:28:41,280 --> 00:28:42,479
Speaker 4: reselling those all set.

605
00:28:42,600 --> 00:28:45,320
Speaker 2: Yes, but we had a niche. How our niche was kitchen.

606
00:28:46,040 --> 00:28:49,440
Speaker 2: It was basically like kitchen construction material, so the cabinets,

607
00:28:49,480 --> 00:28:53,480
Speaker 2: the countertops, refrigerators, hoods, all of these different things. When

608
00:28:53,480 --> 00:28:57,280
Speaker 2: Ikea changes out its kitchens in the showroom, they would

609
00:28:57,520 --> 00:29:00,360
Speaker 2: put their entire kitchen down into the as is section

610
00:29:00,720 --> 00:29:04,000
Speaker 2: and we'd be waiting for it, pick it right up.

611
00:29:04,040 --> 00:29:06,360
Speaker 2: It was ninety percent off and you can resell this

612
00:29:06,440 --> 00:29:10,480
Speaker 2: stuff and make a lot of money. Were my kids

613
00:29:10,520 --> 00:29:12,320
Speaker 2: hate Ikea now because I was taking them in there

614
00:29:12,320 --> 00:29:15,720
Speaker 2: all the time. And this is a side thing, but

615
00:29:15,800 --> 00:29:19,120
Speaker 2: every Wednesday, kids eat free at Ikea, so we were

616
00:29:19,120 --> 00:29:20,000
Speaker 2: there every Wednesday.

617
00:29:20,640 --> 00:29:24,200
Speaker 1: They're probably sick of those meatballs, but I know I

618
00:29:24,280 --> 00:29:26,760
Speaker 1: lived up that furnished my whole first apartment was the

619
00:29:26,840 --> 00:29:27,960
Speaker 1: Ikea as a section.

620
00:29:28,680 --> 00:29:30,520
Speaker 6: I was like, oh no, we will have cute things,

621
00:29:30,520 --> 00:29:31,680
Speaker 6: but cute things on a budget.

622
00:29:31,720 --> 00:29:34,320
Speaker 1: So I feel, you I never thought about this. I

623
00:29:34,320 --> 00:29:36,640
Speaker 1: am a victim of lifestyle creep. I'll fess up to it.

624
00:29:36,800 --> 00:29:39,600
Speaker 1: We bought our house and it was West Elm all

625
00:29:39,600 --> 00:29:44,520
Speaker 1: the way y'all, And I feel foolish, but it's true.

626
00:29:44,560 --> 00:29:46,840
Speaker 1: We did West Elm and like Creighton Barrel, you want

627
00:29:46,840 --> 00:29:50,400
Speaker 1: to have nice stuff. And I always considered myself to

628
00:29:50,480 --> 00:29:53,400
Speaker 1: be you know, I mean, I've been doing personal finance

629
00:29:53,400 --> 00:29:55,280
Speaker 1: for over a decade and you know, I know better.

630
00:29:55,640 --> 00:29:59,080
Speaker 1: But the allure of just being comfortable and having nice things,

631
00:29:59,160 --> 00:30:02,440
Speaker 1: especially for Pea people who you know, for me personally,

632
00:30:02,520 --> 00:30:04,880
Speaker 1: coming from family, we weren't like super poor, but we

633
00:30:04,880 --> 00:30:07,440
Speaker 1: didn't have like really nice stuff. And you know, you

634
00:30:07,560 --> 00:30:10,440
Speaker 1: want to, you want to like enjoy the fruits of

635
00:30:10,520 --> 00:30:13,920
Speaker 1: your your hard work, and that felt like a way

636
00:30:14,000 --> 00:30:17,680
Speaker 1: of acknowledging the hard work and about you know, investing

637
00:30:17,680 --> 00:30:21,560
Speaker 1: in our own comfort. But I'm a little surprised, you know,

638
00:30:21,720 --> 00:30:24,600
Speaker 1: two years out from that renovation, where I'm thinking, you know,

639
00:30:24,800 --> 00:30:27,560
Speaker 1: was that the best way to celebrate our you know,

640
00:30:27,760 --> 00:30:32,040
Speaker 1: our success, like giving another company all this money, you know,

641
00:30:32,160 --> 00:30:35,400
Speaker 1: like there's probably other ways. So I'm I'm thinking so

642
00:30:35,520 --> 00:30:37,320
Speaker 1: much about some of the choices I've made and how

643
00:30:37,320 --> 00:30:41,280
Speaker 1: emotions play into that, you know, especially as you're starting

644
00:30:41,320 --> 00:30:44,280
Speaker 1: to build and build a family and earn more in

645
00:30:44,280 --> 00:30:44,800
Speaker 1: your thirties.

646
00:30:44,840 --> 00:30:48,280
Speaker 4: Like y'all said, yeah, I know, I think definitely there's

647
00:30:48,320 --> 00:30:51,120
Speaker 4: this idea that and Aman and I talk about it

648
00:30:51,160 --> 00:30:54,800
Speaker 4: a lot. Actually, it's like you can make short term

649
00:30:54,960 --> 00:30:57,240
Speaker 4: sacrifices for long term gains.

650
00:30:57,400 --> 00:30:59,080
Speaker 3: And that's really how we thought about it.

651
00:30:59,120 --> 00:31:01,840
Speaker 4: When we're thinking about or even if you're thinking about

652
00:31:01,920 --> 00:31:02,560
Speaker 4: how much it.

653
00:31:02,560 --> 00:31:04,160
Speaker 3: Costs to do X, Y or z.

654
00:31:04,560 --> 00:31:07,880
Speaker 4: Converting that into hours of work, right, it's like, would

655
00:31:07,880 --> 00:31:09,840
Speaker 4: you put that many hours of work so that you

656
00:31:09,840 --> 00:31:11,840
Speaker 4: could have this or so that you could do something

657
00:31:11,960 --> 00:31:15,200
Speaker 4: or do that. And so that's an interesting way to

658
00:31:15,320 --> 00:31:18,240
Speaker 4: start to think about it. But also realizing, you know,

659
00:31:18,320 --> 00:31:20,200
Speaker 4: what is in your future, what do you look for,

660
00:31:20,520 --> 00:31:23,520
Speaker 4: what do you look forward to the most in the future,

661
00:31:24,040 --> 00:31:27,160
Speaker 4: and really thinking about it at that way, thinking that

662
00:31:27,520 --> 00:31:29,760
Speaker 4: you know, if I if I maybe don't spend my

663
00:31:29,840 --> 00:31:32,120
Speaker 4: money in this area, or if I cut back in

664
00:31:32,200 --> 00:31:35,840
Speaker 4: this area, it may be a little hard initially, but

665
00:31:35,920 --> 00:31:38,800
Speaker 4: if you're looking at the long term results, what you

666
00:31:38,840 --> 00:31:42,200
Speaker 4: can get in return for maybe not buying the big

667
00:31:42,280 --> 00:31:45,160
Speaker 4: TV or the new car or something like that, then

668
00:31:45,200 --> 00:31:49,520
Speaker 4: you can start really pursuing fire in a meaningful way

669
00:31:49,520 --> 00:31:53,000
Speaker 4: where you're really focused on cutting out expenses, not buying

670
00:31:53,000 --> 00:31:55,520
Speaker 4: big expenses, and really trying to make more in funnel

671
00:31:55,520 --> 00:31:57,080
Speaker 4: it towards your investments.

672
00:31:57,680 --> 00:32:00,440
Speaker 1: Y'all didn't just focus on cutting cutting cutting it expenses.

673
00:32:00,520 --> 00:32:04,040
Speaker 1: Y'all still took time and you invested in experiences that

674
00:32:04,080 --> 00:32:06,280
Speaker 1: meant a lot to y'all. Could you talk about how

675
00:32:06,320 --> 00:32:09,560
Speaker 1: you balanced experiences and things that you would continue to

676
00:32:09,600 --> 00:32:12,680
Speaker 1: splurge on and then balance that with your mission to

677
00:32:12,680 --> 00:32:13,720
Speaker 1: save as much as you could.

678
00:32:14,360 --> 00:32:18,800
Speaker 4: Yeah, I would say one of our biggest expenses in

679
00:32:18,920 --> 00:32:20,920
Speaker 4: terms of what we cut that we really wanted to

680
00:32:20,960 --> 00:32:23,320
Speaker 4: do that we're able to figure it out was traveling.

681
00:32:23,560 --> 00:32:28,120
Speaker 4: Like we lived in Spain, we lived in Japan, we

682
00:32:28,200 --> 00:32:29,520
Speaker 4: now live in Portugal.

683
00:32:29,880 --> 00:32:33,160
Speaker 3: We traveled to Hawaii a lot. Among's brother lives in Hawaii, so.

684
00:32:33,280 --> 00:32:36,680
Speaker 4: We were definitely a huge travel family and that was

685
00:32:36,880 --> 00:32:38,920
Speaker 4: very important to us and we really didn't want to

686
00:32:38,960 --> 00:32:41,520
Speaker 4: give that up. But it can be expensive for a

687
00:32:41,520 --> 00:32:45,719
Speaker 4: family of four traveling abroad all the time or Hawaii.

688
00:32:45,200 --> 00:32:46,680
Speaker 3: And making these trips.

689
00:32:46,800 --> 00:32:50,360
Speaker 4: And so we figured out travel hacking where we would

690
00:32:50,440 --> 00:32:54,600
Speaker 4: take out credit cards and we would use the bonus

691
00:32:54,640 --> 00:32:57,160
Speaker 4: points for the credit cards by taking them out, and

692
00:32:57,200 --> 00:33:01,240
Speaker 4: we would use them for hotel stays and for airfare,

693
00:33:01,360 --> 00:33:04,400
Speaker 4: and we were able to start traveling for free. Now

694
00:33:04,440 --> 00:33:07,920
Speaker 4: I would say though that this this travel hacking concept

695
00:33:08,080 --> 00:33:10,840
Speaker 4: is absolutely not for everyone. I mean, you have to

696
00:33:10,920 --> 00:33:13,440
Speaker 4: understand how credit works. You have to start off with

697
00:33:13,520 --> 00:33:15,880
Speaker 4: good credit and maintain good credit, and don't go in

698
00:33:15,920 --> 00:33:18,520
Speaker 4: this rabbit hole where you're just trying to spend money

699
00:33:18,520 --> 00:33:20,959
Speaker 4: on your credit card so that you can get the points.

700
00:33:20,960 --> 00:33:23,360
Speaker 4: It doesn't work like that. There's a it's a bit

701
00:33:23,400 --> 00:33:26,440
Speaker 4: more nuanced than that. So it's not for everyone, but

702
00:33:26,520 --> 00:33:29,560
Speaker 4: for us. For Aman and I, we had excellent credit.

703
00:33:30,040 --> 00:33:32,440
Speaker 4: We never had any debt on our credit cards. We

704
00:33:32,520 --> 00:33:35,960
Speaker 4: always paid our credit card off in full every single month,

705
00:33:36,400 --> 00:33:39,320
Speaker 4: and so by figuring out travel hacking, we were able

706
00:33:39,360 --> 00:33:43,120
Speaker 4: to continue to travel the world and still enjoy all

707
00:33:43,160 --> 00:33:44,960
Speaker 4: of the different things we could by traveling, but we

708
00:33:45,000 --> 00:33:46,080
Speaker 4: got to do it for free.

709
00:33:46,360 --> 00:33:48,280
Speaker 1: Oh yeah, tip and I love to talk about what

710
00:33:49,360 --> 00:33:51,880
Speaker 1: how to not you know, fall into that, to that

711
00:33:52,080 --> 00:33:54,680
Speaker 1: black hole of credit card spending just to get some points.

712
00:33:55,000 --> 00:33:55,200
Speaker 5: Yeah.

713
00:33:55,200 --> 00:33:59,280
Speaker 6: Absolutely, So the struggle that I have is not it's

714
00:33:59,320 --> 00:34:02,959
Speaker 6: not the living for got that you know. And so

715
00:34:03,120 --> 00:34:06,960
Speaker 6: but did you ever feel like are we over sacrificing

716
00:34:07,040 --> 00:34:10,600
Speaker 6: because that is something that I struggle with that I

717
00:34:10,800 --> 00:34:14,799
Speaker 6: sometimes struggle with the enjoying on the other side. And

718
00:34:14,880 --> 00:34:16,520
Speaker 6: so do you ever feel like, you know, you were

719
00:34:16,520 --> 00:34:20,359
Speaker 6: over sacrificing And if so, how did you manage that

720
00:34:20,760 --> 00:34:22,480
Speaker 6: or if not, how did you avoid that?

721
00:34:23,360 --> 00:34:23,640
Speaker 5: Yeah?

722
00:34:23,680 --> 00:34:25,719
Speaker 4: I think that for us, we didn't feel like we

723
00:34:25,719 --> 00:34:29,319
Speaker 4: were over sacrificing because we built in things on our

724
00:34:29,400 --> 00:34:31,480
Speaker 4: journey so that we could enjoy things. So, like I said,

725
00:34:31,480 --> 00:34:33,880
Speaker 4: we did traveling. We traveled quite a lot, and we

726
00:34:34,000 --> 00:34:36,319
Speaker 4: also this is something that we didn't save any money on,

727
00:34:36,480 --> 00:34:39,440
Speaker 4: but we still did it. We're from the We're from Oakland,

728
00:34:39,440 --> 00:34:42,000
Speaker 4: like I said, and we went to a lot of

729
00:34:42,040 --> 00:34:44,839
Speaker 4: warrior games and we didn't get the nosebleed seats. We

730
00:34:44,840 --> 00:34:47,120
Speaker 4: were sitting you know, I wouldn't say on the floor,

731
00:34:47,120 --> 00:34:50,359
Speaker 4: but maybe five rows back off of the floor. So

732
00:34:50,680 --> 00:34:52,840
Speaker 4: that was one of the expenses that we splurged on

733
00:34:52,920 --> 00:34:55,800
Speaker 4: when we were in Oakland. But I like to tell

734
00:34:55,840 --> 00:35:00,480
Speaker 4: people a lot that you should you should enjoy the journey.

735
00:35:00,560 --> 00:35:05,279
Speaker 4: You should enjoy your journey towards fire, because sometimes it's

736
00:35:05,360 --> 00:35:08,680
Speaker 4: not all just about that destination of being able to retire.

737
00:35:08,760 --> 00:35:12,240
Speaker 4: Right If you're miserable on your journey, you're not spending

738
00:35:12,239 --> 00:35:17,319
Speaker 4: a single time doing anything. You are are you know,

739
00:35:17,440 --> 00:35:19,680
Speaker 4: not going out with your friends, or you're not doing

740
00:35:19,719 --> 00:35:23,080
Speaker 4: anything with anyone your family members. It's a miserable journey

741
00:35:23,080 --> 00:35:26,480
Speaker 4: and it's not sustainable. So you have to you have

742
00:35:26,560 --> 00:35:29,000
Speaker 4: to figure out what the right balance is for you.

743
00:35:29,280 --> 00:35:31,000
Speaker 3: So we're not I wouldn't.

744
00:35:30,640 --> 00:35:34,560
Speaker 4: Encourage everyone to just you know, count every single penny

745
00:35:34,719 --> 00:35:39,120
Speaker 4: and live in a way where they're just not able

746
00:35:39,160 --> 00:35:40,320
Speaker 4: to enjoy anything.

747
00:35:40,560 --> 00:35:42,279
Speaker 2: Yeah, And I think this is a this is a

748
00:35:42,320 --> 00:35:45,840
Speaker 2: misconception about the Fire movement, is that the people that

749
00:35:45,880 --> 00:35:49,840
Speaker 2: are on this journey are eating beans and sacrifice and

750
00:35:49,880 --> 00:35:52,239
Speaker 2: they don't have cable or Netflix, you know, they don't

751
00:35:52,239 --> 00:35:56,839
Speaker 2: go anywhere. That's that's absolutely not true. To do this,

752
00:35:57,200 --> 00:36:00,239
Speaker 2: you have to just find creative ways to enjoy joy

753
00:36:00,280 --> 00:36:03,480
Speaker 2: yourself and you have to figure out a way to

754
00:36:03,640 --> 00:36:06,080
Speaker 2: make more money. That's the other side of the equation.

755
00:36:06,360 --> 00:36:07,120
Speaker 1: Preach on it.

756
00:36:07,160 --> 00:36:10,160
Speaker 2: Say it again that I wish the Fire movement talk

757
00:36:10,239 --> 00:36:12,200
Speaker 2: more about is you have to get out there and

758
00:36:12,560 --> 00:36:14,920
Speaker 2: if you're in your thirties, twenties, if you're forties, fifties,

759
00:36:15,040 --> 00:36:18,319
Speaker 2: you have to get on the grind like pop would.

760
00:36:18,400 --> 00:36:20,839
Speaker 2: People would say to us, how do you how are

761
00:36:20,880 --> 00:36:23,640
Speaker 2: you able to do this with kids? You're in law school.

762
00:36:23,760 --> 00:36:26,359
Speaker 2: It's like, we don't know anything else but this. So

763
00:36:26,680 --> 00:36:28,799
Speaker 2: we didn't set a low bar. We set a high

764
00:36:28,800 --> 00:36:33,560
Speaker 2: bar and that's all we knew. So for us, we

765
00:36:33,640 --> 00:36:37,839
Speaker 2: don't define, you know, our journey in any particular way.

766
00:36:38,080 --> 00:36:40,120
Speaker 2: It's just it is what it is. That's why we

767
00:36:40,400 --> 00:36:44,520
Speaker 2: called our YouTube channel our Rich Journey, because this is

768
00:36:44,880 --> 00:36:47,879
Speaker 2: this is how we live our life. When people find

769
00:36:47,920 --> 00:36:50,759
Speaker 2: out what our budget is here in Portugal, we live

770
00:36:51,280 --> 00:36:52,400
Speaker 2: pretty luxuriously.

771
00:36:52,719 --> 00:36:52,880
Speaker 6: You know.

772
00:36:52,920 --> 00:36:56,120
Speaker 2: We spend four thousand dollars a month here in Portugal.

773
00:36:56,719 --> 00:36:59,399
Speaker 2: And you know, for some people they say, oh my god,

774
00:36:59,400 --> 00:37:02,200
Speaker 2: that's too much, or some people say, oh that's not enough.

775
00:37:02,440 --> 00:37:05,520
Speaker 2: But it's relative and I think anyone that's on this

776
00:37:05,600 --> 00:37:07,920
Speaker 2: journey they have to figure out a way to do

777
00:37:07,960 --> 00:37:13,080
Speaker 2: it relatively well so that they enjoy themselves. Someone reached

778
00:37:13,080 --> 00:37:15,600
Speaker 2: out to me today and they said, you know, we're

779
00:37:15,600 --> 00:37:18,080
Speaker 2: on this journey and we're wondering whether or not we

780
00:37:18,200 --> 00:37:22,600
Speaker 2: should start to cut some of the activities for our children.

781
00:37:23,080 --> 00:37:27,280
Speaker 2: And I immediately thought, no, why would you. No, don't

782
00:37:27,280 --> 00:37:30,920
Speaker 2: do that. Don't sacrifice your child's childhood. You know, for

783
00:37:31,000 --> 00:37:34,960
Speaker 2: this journey, figure out different ways to approach the problem,

784
00:37:35,320 --> 00:37:38,800
Speaker 2: you know. So that's what we did on our journey.

785
00:37:38,840 --> 00:37:43,799
Speaker 2: We would encounter a problem like childcare, like travel, like

786
00:37:44,000 --> 00:37:46,120
Speaker 2: owning a home, and we would just figure out a

787
00:37:46,160 --> 00:37:49,400
Speaker 2: way to get through the challenge or over or around it.

788
00:37:49,440 --> 00:37:51,600
Speaker 2: But we never we never let it stop us.

789
00:37:52,040 --> 00:37:54,040
Speaker 1: Yeah, I mean, your girls were in basketball, you said

790
00:37:54,000 --> 00:37:57,560
Speaker 1: they'd do swimming, like you've never You've always encouraged those hobbies.

791
00:37:57,600 --> 00:38:01,280
Speaker 1: I mean, now they're YouTube stars, so can they're too happy.

792
00:38:01,800 --> 00:38:04,160
Speaker 1: But before we let y'all go, we have I really

793
00:38:04,200 --> 00:38:06,719
Speaker 1: want to talk to y'all about your investing philosophy and

794
00:38:06,960 --> 00:38:09,680
Speaker 1: how you are weathering because your investments are mostly still

795
00:38:09,719 --> 00:38:12,640
Speaker 1: in the US, right, yes, so talk to us about

796
00:38:12,640 --> 00:38:14,520
Speaker 1: because I know people listening right now. I mean, let's

797
00:38:14,560 --> 00:38:17,759
Speaker 1: not let's let's not mince words here, like we are

798
00:38:17,920 --> 00:38:20,840
Speaker 1: we're the US is being crippled by this current pandemic

799
00:38:20,840 --> 00:38:23,960
Speaker 1: and economic crisis. I mean, we have what tens of

800
00:38:24,000 --> 00:38:26,600
Speaker 1: millions of Americans out of work. My own father was

801
00:38:26,640 --> 00:38:29,719
Speaker 1: has is still laid off. Congress can't get their act

802
00:38:29,719 --> 00:38:33,840
Speaker 1: together with these stimulus checks and federal uh you know,

803
00:38:33,920 --> 00:38:36,640
Speaker 1: unemployment benefits are are in limbo right now. So there's

804
00:38:36,680 --> 00:38:39,880
Speaker 1: people out there who are truly, truly hurting, and even

805
00:38:40,280 --> 00:38:42,400
Speaker 1: infant people who have been doing it quote unquote the

806
00:38:42,520 --> 00:38:44,360
Speaker 1: right way and investing in their four one k have

807
00:38:44,440 --> 00:38:47,799
Speaker 1: seen their four one ks you know, take dips this year.

808
00:38:48,239 --> 00:38:51,120
Speaker 1: So y'all y'all have retired. What what do you say

809
00:38:51,200 --> 00:38:53,600
Speaker 1: to people who are feeling like, oh shit, like is

810
00:38:53,640 --> 00:38:55,520
Speaker 1: this the right time to be putting money in the market,

811
00:38:55,600 --> 00:38:58,759
Speaker 1: and how like, how can we trust that things will

812
00:38:58,760 --> 00:39:02,200
Speaker 1: work out? Talk to us about your approach to investing

813
00:39:02,360 --> 00:39:04,840
Speaker 1: right now in this moment, you know, how you're weathering

814
00:39:04,880 --> 00:39:07,359
Speaker 1: what's happening in the US, even though you're in Portugal now.

815
00:39:07,400 --> 00:39:09,920
Speaker 1: And what do you say to people who are feeling

816
00:39:10,440 --> 00:39:13,600
Speaker 1: a little gunshy about getting into the market now?

817
00:39:14,280 --> 00:39:16,759
Speaker 2: Yeah, well, you know, that's a great question. And I

818
00:39:16,800 --> 00:39:21,600
Speaker 2: always tell people this, don't invest money that you that

819
00:39:21,680 --> 00:39:24,320
Speaker 2: you need to live off of. Every day. So before

820
00:39:24,360 --> 00:39:27,839
Speaker 2: you even buy your first investment, you should have the

821
00:39:27,880 --> 00:39:30,680
Speaker 2: fundamentals in place. You should have your credit paid down

822
00:39:31,000 --> 00:39:33,960
Speaker 2: and emergency fund in place, and then you can start

823
00:39:34,160 --> 00:39:37,799
Speaker 2: investing in the stock market. Because when you invest in

824
00:39:37,800 --> 00:39:40,680
Speaker 2: the stock market, you shouldn't need that money in the

825
00:39:40,719 --> 00:39:43,200
Speaker 2: next five to ten years. This is this is long

826
00:39:43,320 --> 00:39:47,200
Speaker 2: term money. You shouldn't want this money for decades. So

827
00:39:47,800 --> 00:39:51,080
Speaker 2: what's happening right now? It is. It is completely awful,

828
00:39:51,560 --> 00:39:54,320
Speaker 2: you know, but if you have a plan in place,

829
00:39:54,920 --> 00:39:58,080
Speaker 2: this should not distract you. If it's not taking away

830
00:39:58,080 --> 00:40:00,360
Speaker 2: from your income, if you still have your come and

831
00:40:00,400 --> 00:40:02,840
Speaker 2: you still have the ability to invest, you should be

832
00:40:02,880 --> 00:40:06,399
Speaker 2: investing that money. Don't get don't get consumed by what's

833
00:40:06,400 --> 00:40:10,120
Speaker 2: going on in the world. Yes you should should. You

834
00:40:10,160 --> 00:40:14,640
Speaker 2: should definitely be involved in it socially and politically. But

835
00:40:14,719 --> 00:40:18,320
Speaker 2: if you have your investments on cruise control, then money

836
00:40:18,440 --> 00:40:20,040
Speaker 2: should be the least of your worries right now. You

837
00:40:20,040 --> 00:40:23,239
Speaker 2: should just let that money ride. So I always say that,

838
00:40:23,560 --> 00:40:25,439
Speaker 2: you know, once you have those fundamental things in place

839
00:40:25,480 --> 00:40:28,719
Speaker 2: and you have your investments on cruise control, then you

840
00:40:28,760 --> 00:40:30,480
Speaker 2: can focus on everyday life.

841
00:40:31,280 --> 00:40:34,000
Speaker 4: Yeah, And I would also say, you know, when when

842
00:40:34,000 --> 00:40:37,640
Speaker 4: you think about the stock market, it seems so backwards

843
00:40:37,680 --> 00:40:41,680
Speaker 4: because when the stock market plummets, a lot of people

844
00:40:41,920 --> 00:40:46,000
Speaker 4: are pulling their investments out because they're afraid that they're

845
00:40:46,040 --> 00:40:47,840
Speaker 4: going to lose all of their money.

846
00:40:47,840 --> 00:40:49,759
Speaker 3: So it's like, let me get let me get my

847
00:40:49,840 --> 00:40:50,560
Speaker 3: investments out.

848
00:40:50,760 --> 00:40:52,640
Speaker 4: I'm going to take the loss, but it's better than

849
00:40:53,360 --> 00:40:54,759
Speaker 4: not having any money at all.

850
00:40:55,239 --> 00:40:56,920
Speaker 3: And then then the.

851
00:40:56,880 --> 00:40:59,440
Speaker 4: Stock market ultimately goes back up, and then if they

852
00:40:59,480 --> 00:41:01,560
Speaker 4: would have just if their money in, they would have

853
00:41:01,760 --> 00:41:04,400
Speaker 4: been better off in the long run. It's almost like

854
00:41:04,440 --> 00:41:07,480
Speaker 4: you sort of have to go against the herd mentality

855
00:41:07,520 --> 00:41:11,759
Speaker 4: when it comes to the stock market, because once you

856
00:41:12,280 --> 00:41:15,800
Speaker 4: learn more about the stock market and understand the history

857
00:41:15,840 --> 00:41:17,839
Speaker 4: of the stock market, and this is not to stay

858
00:41:17,920 --> 00:41:20,319
Speaker 4: that the history of the stock market will predict the

859
00:41:20,360 --> 00:41:24,680
Speaker 4: future of the stock market, but historically, since forever, the

860
00:41:24,719 --> 00:41:27,520
Speaker 4: stock market has always ultimately gone up.

861
00:41:27,840 --> 00:41:29,000
Speaker 3: And so when people are.

862
00:41:28,840 --> 00:41:31,359
Speaker 4: Thinking, I don't know if I should invest right now

863
00:41:31,440 --> 00:41:34,239
Speaker 4: because the stock market just dropped something like that, or

864
00:41:34,239 --> 00:41:36,280
Speaker 4: maybe I should pull my money out because I'm losing

865
00:41:36,320 --> 00:41:38,200
Speaker 4: money and I don't want to lose it all, the

866
00:41:38,280 --> 00:41:42,880
Speaker 4: idea should really be if the stock market has historically

867
00:41:43,080 --> 00:41:47,399
Speaker 4: always gone up. Then when the stock market goes down

868
00:41:47,640 --> 00:41:51,520
Speaker 4: is an excellent time to invest. Is an excellent time

869
00:41:51,560 --> 00:41:54,920
Speaker 4: if you have any money, to throw your money into

870
00:41:55,080 --> 00:41:57,840
Speaker 4: the stock market when it's down, because when it ultimately

871
00:41:57,880 --> 00:42:02,279
Speaker 4: goes up, then you are Then you're making money and

872
00:42:02,320 --> 00:42:03,440
Speaker 4: you're getting a return on that.

873
00:42:03,520 --> 00:42:04,120
Speaker 3: And the same thing.

874
00:42:04,160 --> 00:42:05,719
Speaker 4: If your money is in there and you keep it

875
00:42:05,760 --> 00:42:08,520
Speaker 4: in there rather than sell it and it ultimately goes up,

876
00:42:08,560 --> 00:42:10,959
Speaker 4: then your stock market, your portfolio is worth more.

877
00:42:11,680 --> 00:42:14,359
Speaker 2: But I think, Mandy, you want to know what we're

878
00:42:14,360 --> 00:42:17,800
Speaker 2: doing right. You want to know how we're weathering this storm,

879
00:42:18,360 --> 00:42:21,520
Speaker 2: and I think I think a lot of people have

880
00:42:22,239 --> 00:42:27,239
Speaker 2: that question. But when we first started our plan, we

881
00:42:27,320 --> 00:42:33,759
Speaker 2: devised a plan that involved front loading our investments into

882
00:42:34,719 --> 00:42:38,920
Speaker 2: very aggressive index funds, so technology and total stock market

883
00:42:39,200 --> 00:42:41,400
Speaker 2: index funds. And then as we got towards the latter

884
00:42:41,480 --> 00:42:44,279
Speaker 2: half of our journey, we started to build up what's

885
00:42:44,280 --> 00:42:47,319
Speaker 2: called the stock market Emergency Fund for dips like this

886
00:42:47,920 --> 00:42:52,359
Speaker 2: that was over two years worth of living expenses in

887
00:42:52,440 --> 00:42:54,520
Speaker 2: case the stock market were to drop and we would

888
00:42:54,520 --> 00:42:56,880
Speaker 2: have to make that switch from not pulling from the

889
00:42:56,880 --> 00:42:58,960
Speaker 2: stock market, because you don't want to pull from the

890
00:42:59,000 --> 00:43:01,960
Speaker 2: stock market when to drop and instead pull from our

891
00:43:02,360 --> 00:43:06,120
Speaker 2: stock market emergency fund. And so when March hit and

892
00:43:06,200 --> 00:43:10,480
Speaker 2: the stock market crashed, we thought, okay, are we going

893
00:43:10,560 --> 00:43:14,160
Speaker 2: to have to make that switch? But two three months later,

894
00:43:14,560 --> 00:43:18,440
Speaker 2: the stock market has fully recovered. So this is this

895
00:43:18,719 --> 00:43:23,200
Speaker 2: is the the I mean, this is the thing about investing.

896
00:43:23,600 --> 00:43:25,400
Speaker 2: When you have a plan in place, you already know

897
00:43:25,440 --> 00:43:29,920
Speaker 2: what to do before it happens. But what we've found

898
00:43:30,000 --> 00:43:32,920
Speaker 2: is that we haven't had to even rely on some

899
00:43:32,960 --> 00:43:38,000
Speaker 2: of those contingencies because the stock market has always recovered.

900
00:43:38,320 --> 00:43:42,319
Speaker 2: And I always say this on our YouTube channel. You know,

901
00:43:42,680 --> 00:43:44,520
Speaker 2: the stock market's going to go up and down, but

902
00:43:44,600 --> 00:43:47,320
Speaker 2: in the end, it's going to go up. It always has.

903
00:43:47,920 --> 00:43:50,160
Speaker 4: And I will say also, you know, just to piggyback

904
00:43:50,160 --> 00:43:52,399
Speaker 4: off of what Aman said. With that crash in March

905
00:43:52,440 --> 00:43:55,840
Speaker 4: twenty March twenty twenty, there were a lot of people

906
00:43:55,960 --> 00:43:59,080
Speaker 4: at that time they were selling out their portfolios because

907
00:43:59,080 --> 00:44:00,600
Speaker 4: they didn't want to take any.

908
00:44:00,440 --> 00:44:01,320
Speaker 3: More of a loss.

909
00:44:01,520 --> 00:44:05,359
Speaker 4: And on our channel, we actually created a new portfolio,

910
00:44:05,800 --> 00:44:09,520
Speaker 4: just sort of a very many portfolio to show people listen,

911
00:44:09,760 --> 00:44:13,200
Speaker 4: if you invest now, it's a good it's a good thing.

912
00:44:13,320 --> 00:44:16,120
Speaker 4: You can start growing your money by investing now. It

913
00:44:16,160 --> 00:44:18,880
Speaker 4: doesn't matter that there was a huge crash. You can

914
00:44:18,920 --> 00:44:22,359
Speaker 4: start investing now. And so many people were like, why

915
00:44:22,360 --> 00:44:24,439
Speaker 4: would you invest now, it's a crash, it's the worst

916
00:44:24,480 --> 00:44:26,560
Speaker 4: time to invest, and we're like, no, that's the very

917
00:44:26,600 --> 00:44:28,840
Speaker 4: opposite of how you should be thinking. You know, you

918
00:44:28,840 --> 00:44:32,279
Speaker 4: should continuously be investing whether it's a good whether the

919
00:44:32,280 --> 00:44:34,800
Speaker 4: market's doing well or whether it's doing bad. You should

920
00:44:34,840 --> 00:44:37,560
Speaker 4: just be dollar cost averaging into the market. But when

921
00:44:37,600 --> 00:44:41,000
Speaker 4: the market is doing bad, it is an excellent opportunity

922
00:44:41,160 --> 00:44:43,479
Speaker 4: to grow your wealth. And so that's what we're really

923
00:44:43,520 --> 00:44:47,080
Speaker 4: demonstrating with this portfolio to our followers is like, listen,

924
00:44:47,120 --> 00:44:49,960
Speaker 4: when people are running and trying to cash out their

925
00:44:50,000 --> 00:44:53,440
Speaker 4: portfolios when there's a big crash, don't do that. Do

926
00:44:53,600 --> 00:44:57,000
Speaker 4: the opposite. Do the opposite and start building your wealth.

927
00:44:57,680 --> 00:45:00,759
Speaker 1: I think y'all really illustrate beautifully the power the mindset

928
00:45:00,880 --> 00:45:03,560
Speaker 1: when it comes to building wealth. Like you've got to

929
00:45:03,640 --> 00:45:06,360
Speaker 1: really you've got to look at your emotions, as my

930
00:45:06,400 --> 00:45:09,080
Speaker 1: lovely therapist always says, look at the thought or the

931
00:45:09,160 --> 00:45:11,960
Speaker 1: feeling and just acknowledge that it exists and then just

932
00:45:12,080 --> 00:45:15,879
Speaker 1: attack it with reason and logic. And I love that, y'all.

933
00:45:15,920 --> 00:45:18,319
Speaker 1: I've been following that series at y'all where you share

934
00:45:18,320 --> 00:45:20,360
Speaker 1: your portfolio and how you invest at the bomb of

935
00:45:20,360 --> 00:45:22,239
Speaker 1: the market or at least you know, you never know

936
00:45:22,280 --> 00:45:24,160
Speaker 1: when it's the bottom, but how you guys invested in

937
00:45:24,200 --> 00:45:26,360
Speaker 1: the spring and I and I love that lesson. I

938
00:45:26,440 --> 00:45:28,520
Speaker 1: just think people have to be ready for it and

939
00:45:29,000 --> 00:45:30,400
Speaker 1: really want to. I want to home in on the

940
00:45:30,400 --> 00:45:32,560
Speaker 1: point that y'all made too about that emergency fund. And

941
00:45:32,600 --> 00:45:34,520
Speaker 1: just to be clear, when you say it's a stock

942
00:45:34,600 --> 00:45:36,920
Speaker 1: market emergency fund, you don't have the money in the

943
00:45:36,920 --> 00:45:39,680
Speaker 1: stock market. It's your emergency fund, so that you don't

944
00:45:39,719 --> 00:45:43,399
Speaker 1: touch your money, yes, just cash right regular ole. Yeah,

945
00:45:43,440 --> 00:45:46,520
Speaker 1: So that's key because you know, people think that like

946
00:45:46,600 --> 00:45:48,759
Speaker 1: if you're if you're worried about losing everything when a

947
00:45:48,800 --> 00:45:51,480
Speaker 1: market goes down, that you're probably not investing money that

948
00:45:51,480 --> 00:45:54,279
Speaker 1: you're willing to put away for the long term, like

949
00:45:54,320 --> 00:45:56,680
Speaker 1: your money that you want to hold with your money

950
00:45:56,680 --> 00:45:58,440
Speaker 1: that you want to be able to access if an

951
00:45:58,440 --> 00:46:01,360
Speaker 1: emergency happens. That should be really, it should be liquid,

952
00:46:01,400 --> 00:46:03,839
Speaker 1: It should be available to you. It should be enough

953
00:46:04,480 --> 00:46:06,839
Speaker 1: for the you know, for whatever a period of time

954
00:46:06,880 --> 00:46:09,520
Speaker 1: you feel comfortable with you guys, two years seems reasonable

955
00:46:09,520 --> 00:46:14,839
Speaker 1: because y'all are you know, you're entirely without you know, well,

956
00:46:14,880 --> 00:46:18,040
Speaker 1: you have your passive income, but you've left, you've left

957
00:46:18,040 --> 00:46:20,719
Speaker 1: your jobs, and you're living your fire lifestyle. But for

958
00:46:20,760 --> 00:46:23,360
Speaker 1: other people maybe at six months or year's worth of expenses.

959
00:46:23,719 --> 00:46:26,160
Speaker 1: And I love that y'all have that cushion because it

960
00:46:26,280 --> 00:46:29,920
Speaker 1: helps you kind of like stamp down those emotional fears

961
00:46:29,960 --> 00:46:32,040
Speaker 1: around when the market dips, like oh no, I've got

962
00:46:32,080 --> 00:46:34,840
Speaker 1: to take my money out because I don't want to

963
00:46:34,880 --> 00:46:36,680
Speaker 1: lose it, because we need to have food on the table.

964
00:46:37,080 --> 00:46:41,000
Speaker 1: With that emergency fund, y'all, you provide a cushion for yourself,

965
00:46:41,040 --> 00:46:43,680
Speaker 1: and you provide the security that you can continue with

966
00:46:43,760 --> 00:46:46,279
Speaker 1: your investing strategy, continue building your wealth, and you don't

967
00:46:46,320 --> 00:46:49,560
Speaker 1: need to sacrifice that when your emotions start to take over.

968
00:46:50,080 --> 00:46:52,319
Speaker 1: I think that's a really important point for people, and

969
00:46:52,320 --> 00:46:55,840
Speaker 1: that's why we're always like, before y'all start asking about investing,

970
00:46:55,880 --> 00:46:58,360
Speaker 1: I'm talking to my dad and my uncle Mark. People

971
00:46:58,400 --> 00:47:00,239
Speaker 1: call me all the time, what about hurts? Would we

972
00:47:00,239 --> 00:47:00,759
Speaker 1: invest in her.

973
00:47:02,520 --> 00:47:02,960
Speaker 5: Bankrupt?

974
00:47:03,400 --> 00:47:05,800
Speaker 1: Oh? Yeah, sure, jumping, Oh my god, I'm like, listen,

975
00:47:05,840 --> 00:47:07,480
Speaker 1: if my uncle Mark is talking about it, do not

976
00:47:08,800 --> 00:47:11,879
Speaker 1: just don't go to hurts, but my dad he still

977
00:47:11,920 --> 00:47:14,200
Speaker 1: saves money in his coat closet. I'm like, you're trying

978
00:47:14,200 --> 00:47:16,040
Speaker 1: to talk about investing in hurts. Can I get you

979
00:47:16,080 --> 00:47:17,840
Speaker 1: to like put the money in the bank first? Like,

980
00:47:17,880 --> 00:47:19,400
Speaker 1: what is this so backwards?

981
00:47:19,640 --> 00:47:22,759
Speaker 6: Go ahead, No, and no shade to the people who listen.

982
00:47:22,840 --> 00:47:25,359
Speaker 6: But if you're willing to do the blessing loom, that's

983
00:47:25,400 --> 00:47:29,120
Speaker 6: not a blessing. I think you can try this. That's

984
00:47:29,120 --> 00:47:30,960
Speaker 6: a little shady because so many of my dream catchers

985
00:47:31,000 --> 00:47:32,399
Speaker 6: are like, girl, I want to do a blessing loom.

986
00:47:32,400 --> 00:47:34,000
Speaker 6: It's not a blessing loom.

987
00:47:34,239 --> 00:47:36,000
Speaker 1: No, I've not heard enough before.

988
00:47:36,160 --> 00:47:37,359
Speaker 5: You never heard of the blessing loom?

989
00:47:37,600 --> 00:47:38,680
Speaker 1: Quits quick sidebar?

990
00:47:38,719 --> 00:47:41,440
Speaker 5: What is done? No, we talked about it on the podcast.

991
00:47:41,480 --> 00:47:45,040
Speaker 6: Remember I said it's it's basically the pyramid scheme, but

992
00:47:45,040 --> 00:47:47,680
Speaker 6: they keep renaming it blessing loom. Pyramid scheme when you

993
00:47:47,760 --> 00:47:49,880
Speaker 6: bring more people in and they bring money, and then

994
00:47:49,880 --> 00:47:52,160
Speaker 6: you move to the center or to the top and

995
00:47:52,200 --> 00:47:54,720
Speaker 6: they see yeah, but they just keep calling in new things.

996
00:47:54,880 --> 00:47:56,719
Speaker 6: But I did want to ask, like what because I

997
00:47:56,760 --> 00:47:58,800
Speaker 6: want to get just a little nitty gritty, like what.

998
00:47:58,719 --> 00:48:00,600
Speaker 5: Percentage are you living off of?

999
00:48:00,640 --> 00:48:03,720
Speaker 6: Are you doing it where you're anticipating like on average

1000
00:48:03,760 --> 00:48:05,640
Speaker 6: is seven to eight percent return and you're living off

1001
00:48:05,840 --> 00:48:10,000
Speaker 6: four percent of your of what your investments yield or

1002
00:48:10,160 --> 00:48:13,560
Speaker 6: is it more so you're living off you if you

1003
00:48:13,560 --> 00:48:17,560
Speaker 6: have rental properties or is it? And then two, like

1004
00:48:17,640 --> 00:48:19,840
Speaker 6: what was your fire number? Because I know, like my

1005
00:48:19,920 --> 00:48:23,040
Speaker 6: financial advisor, my financial planner, you know, I mean, I

1006
00:48:23,080 --> 00:48:25,120
Speaker 6: guess technically I don't have.

1007
00:48:25,120 --> 00:48:26,040
Speaker 5: To work now, I guess.

1008
00:48:26,160 --> 00:48:28,480
Speaker 6: I mean, I just like I like doing budget Nista,

1009
00:48:28,880 --> 00:48:31,560
Speaker 6: but I my husband and I help out a lot

1010
00:48:31,560 --> 00:48:35,600
Speaker 6: of people. So what we spend a month is like

1011
00:48:36,080 --> 00:48:38,440
Speaker 6: half of what we spend actually goes to us and

1012
00:48:38,480 --> 00:48:40,400
Speaker 6: just the rest goes to helping family and friends.

1013
00:48:40,600 --> 00:48:43,239
Speaker 5: But so like, what's that? What was that number for you?

1014
00:48:43,320 --> 00:48:45,680
Speaker 6: Like, if we set aside this amount plus with the

1015
00:48:45,760 --> 00:48:47,480
Speaker 6: real estate coming in, we should be good.

1016
00:48:47,560 --> 00:48:48,600
Speaker 5: I'm curious about that.

1017
00:48:49,360 --> 00:48:52,240
Speaker 4: Yeah, so we don't have the real estate anymore. Okay,

1018
00:48:52,440 --> 00:48:53,920
Speaker 4: we sold our real estate and then we put that

1019
00:48:53,960 --> 00:48:57,680
Speaker 4: in the stock market. But our fire number was based

1020
00:48:57,719 --> 00:49:00,239
Speaker 4: off of living in the San Francisco Bay are So

1021
00:49:00,280 --> 00:49:03,520
Speaker 4: I'll caveat with that caveat that that our number was

1022
00:49:03,719 --> 00:49:06,120
Speaker 4: over two million, close to two and a half million.

1023
00:49:06,840 --> 00:49:09,719
Speaker 4: But again this is because we live in the sand Or.

1024
00:49:10,840 --> 00:49:13,000
Speaker 4: Our fire number was based off of living in the

1025
00:49:13,000 --> 00:49:16,120
Speaker 4: San Francisco Bay area. So some people will probably think

1026
00:49:16,320 --> 00:49:18,840
Speaker 4: that that can be very high, or some people actually

1027
00:49:18,840 --> 00:49:20,200
Speaker 4: think like, maybe that's low.

1028
00:49:20,480 --> 00:49:22,880
Speaker 3: So it's really relative to where.

1029
00:49:22,640 --> 00:49:25,480
Speaker 4: You plan on retiring, where you live, what your family

1030
00:49:25,520 --> 00:49:28,480
Speaker 4: size is, and what type of stuff you plan on

1031
00:49:28,560 --> 00:49:31,360
Speaker 4: doing in retirement, and how much is that stuff going

1032
00:49:31,440 --> 00:49:33,560
Speaker 4: to cost. So ours was close to two and a

1033
00:49:33,600 --> 00:49:37,280
Speaker 4: half million dollars, but I will say because we moved

1034
00:49:37,360 --> 00:49:42,440
Speaker 4: to Portugal, we are living off of obviously not close

1035
00:49:42,480 --> 00:49:45,320
Speaker 4: to that. Because when you calculate your fire number, you

1036
00:49:45,640 --> 00:49:47,880
Speaker 4: the ideas that you can live off of four percent

1037
00:49:48,040 --> 00:49:52,200
Speaker 4: of your portfolio in order to cover your monthly expenses

1038
00:49:52,400 --> 00:49:55,560
Speaker 4: and then in turn your annual expenses. So the idea

1039
00:49:55,600 --> 00:49:58,160
Speaker 4: is that you can pull four percent from your portfolio,

1040
00:49:58,600 --> 00:50:02,640
Speaker 4: and then your portfolio continue to grow so that you're

1041
00:50:02,719 --> 00:50:05,839
Speaker 4: only pulling from the gains in your portfolio, You're not

1042
00:50:05,880 --> 00:50:09,200
Speaker 4: actually pulling from the principal balance, so it continues to

1043
00:50:09,239 --> 00:50:11,880
Speaker 4: grow and you're able to continuously pull out four percent.

1044
00:50:12,239 --> 00:50:14,960
Speaker 4: And that's based off of There's a study called the

1045
00:50:14,960 --> 00:50:18,560
Speaker 4: Trinity Study that really explains this concept of the four

1046
00:50:18,600 --> 00:50:21,440
Speaker 4: percent rule, how you can live off of your portfolio

1047
00:50:21,560 --> 00:50:25,400
Speaker 4: and the portfolio allocation that you have, whether it's stocks

1048
00:50:25,400 --> 00:50:28,200
Speaker 4: and bonds or one hundred percent stocks one hundred percent bonds.

1049
00:50:28,360 --> 00:50:31,160
Speaker 4: But the concept is, once you get your fire number,

1050
00:50:31,360 --> 00:50:33,359
Speaker 4: you're supposed to be able to live off of four

1051
00:50:33,400 --> 00:50:36,640
Speaker 4: percent of that and pull money from your portfolio, and

1052
00:50:36,760 --> 00:50:39,440
Speaker 4: that pays for all of your expenses. But we are

1053
00:50:39,480 --> 00:50:42,319
Speaker 4: here in Portugal, and our expenses are much much lower,

1054
00:50:42,440 --> 00:50:43,960
Speaker 4: like we said, I mean, we gave you the example

1055
00:50:44,040 --> 00:50:48,040
Speaker 4: of the healthcare how much cheaper it is, or i'd

1056
00:50:48,080 --> 00:50:51,280
Speaker 4: say how much more affordable it is here in Portugal.

1057
00:50:51,360 --> 00:50:53,320
Speaker 4: So for us, we don't have to pull a full

1058
00:50:53,440 --> 00:50:56,880
Speaker 4: four percent. We pull under four percent. And if you

1059
00:50:56,960 --> 00:50:59,239
Speaker 4: ever are in a situation where you're pulling less than

1060
00:50:59,280 --> 00:51:02,960
Speaker 4: four percent, then it's even better because then your portfolio

1061
00:51:03,080 --> 00:51:06,400
Speaker 4: can continue to grow even more. So the idea is

1062
00:51:06,400 --> 00:51:08,719
Speaker 4: if you're able to pull less than four percent, it

1063
00:51:08,760 --> 00:51:09,880
Speaker 4: can grow even more.

1064
00:51:09,920 --> 00:51:11,360
Speaker 3: And so that's a perfect situation.

1065
00:51:11,920 --> 00:51:16,359
Speaker 4: But I would say for people that have different locations

1066
00:51:16,400 --> 00:51:18,960
Speaker 4: in mind, like for example, like we said, we were

1067
00:51:18,960 --> 00:51:21,279
Speaker 4: thinking about the San Francisco Bay area and we were

1068
00:51:21,320 --> 00:51:24,880
Speaker 4: thinking about Portugal, for us, it was really important to

1069
00:51:25,120 --> 00:51:28,440
Speaker 4: not retire until we hit the mark for the higher

1070
00:51:28,480 --> 00:51:30,560
Speaker 4: cost of living, which is the San Francisco Bay Area.

1071
00:51:30,640 --> 00:51:34,440
Speaker 4: And again that's because if we come here to Portugal

1072
00:51:34,640 --> 00:51:37,080
Speaker 4: and we decide, you know, four or five years down

1073
00:51:37,080 --> 00:51:40,080
Speaker 4: the road, we want to return to the Bay Area,

1074
00:51:40,280 --> 00:51:41,960
Speaker 4: or you know, our girls will be going away to

1075
00:51:42,000 --> 00:51:45,440
Speaker 4: school soon, not soon soon to me, but you know

1076
00:51:45,680 --> 00:51:48,319
Speaker 4: in another four and six years if they returned to

1077
00:51:48,360 --> 00:51:50,319
Speaker 4: the States, maybe at that time we'll think, oh, we

1078
00:51:50,320 --> 00:51:52,359
Speaker 4: should return with them, or maybe we want to live

1079
00:51:52,400 --> 00:51:53,160
Speaker 4: back in the States.

1080
00:51:53,360 --> 00:51:55,120
Speaker 3: If we would have picked a fire.

1081
00:51:54,920 --> 00:51:59,320
Speaker 4: Number associated with living in Portugal, then we would be stuck.

1082
00:51:59,360 --> 00:52:01,200
Speaker 4: We would be limit in terms of where we can

1083
00:52:01,239 --> 00:52:04,880
Speaker 4: go after that. So for people that have multiple areas

1084
00:52:04,920 --> 00:52:08,040
Speaker 4: in mind, I would I would recommend picking the higher

1085
00:52:08,080 --> 00:52:10,919
Speaker 4: cost of living area and then when you go live

1086
00:52:11,000 --> 00:52:13,440
Speaker 4: in a lower cost of area, you're pulling less than

1087
00:52:13,440 --> 00:52:15,600
Speaker 4: that four percent and your portfolio is able to grow

1088
00:52:15,680 --> 00:52:16,759
Speaker 4: even more because of it.

1089
00:52:17,280 --> 00:52:19,839
Speaker 1: And when you're in retire. Did that answer your question? Tif?

1090
00:52:20,400 --> 00:52:20,799
Speaker 5: No, it did.

1091
00:52:20,840 --> 00:52:24,319
Speaker 1: I just said that was awesome here, Okay, So I

1092
00:52:24,400 --> 00:52:26,759
Speaker 1: just have so many questions now. I wanted to know

1093
00:52:26,800 --> 00:52:28,799
Speaker 1: because you guys have your YouTube channel. I know you

1094
00:52:28,880 --> 00:52:31,640
Speaker 1: have a course now in stock investing. When y'all were planning,

1095
00:52:32,080 --> 00:52:35,320
Speaker 1: you know, sources of income or planning your portfolio and

1096
00:52:35,840 --> 00:52:39,040
Speaker 1: hitting your fire number, did y'all think, Okay, we'll also

1097
00:52:39,120 --> 00:52:41,600
Speaker 1: bring in income from our YouTube and maybe we can

1098
00:52:41,640 --> 00:52:43,440
Speaker 1: teach people and have a course. Was that part of

1099
00:52:43,480 --> 00:52:47,399
Speaker 1: your plan or was this just like a happenstance, Because

1100
00:52:47,400 --> 00:52:49,200
Speaker 1: it doesn't strike me that you guys set out, because

1101
00:52:49,239 --> 00:52:51,560
Speaker 1: that's honestly one of the things that kind of annoys

1102
00:52:51,560 --> 00:52:53,520
Speaker 1: me about some fire. I'll just be totally frank, as

1103
00:52:53,560 --> 00:52:56,640
Speaker 1: Christina knows I can be, but like, yeah, I mean

1104
00:52:56,680 --> 00:52:59,040
Speaker 1: I kind of roll my eyes sometimes because people are like, oh, yeah,

1105
00:52:59,040 --> 00:53:00,600
Speaker 1: I'm going to retire early and I'm going to teach

1106
00:53:00,600 --> 00:53:02,040
Speaker 1: people how to do it, and that's how I'm gonna

1107
00:53:02,040 --> 00:53:04,759
Speaker 1: retire early by making money off of the courses. But

1108
00:53:04,840 --> 00:53:07,480
Speaker 1: y'all strike me as totally different, whereas it's kind of

1109
00:53:07,520 --> 00:53:09,560
Speaker 1: a you know, you did your fire thing and then

1110
00:53:09,600 --> 00:53:11,480
Speaker 1: people were asking you to start a channel, and you

1111
00:53:11,520 --> 00:53:14,200
Speaker 1: did it, and now you just happened to be YouTube stars.

1112
00:53:14,840 --> 00:53:15,080
Speaker 5: Yeah.

1113
00:53:15,120 --> 00:53:17,759
Speaker 4: I love that you asked that, because you know, right

1114
00:53:17,800 --> 00:53:21,760
Speaker 4: now we have we have almost three hundred thousand subscribers

1115
00:53:21,800 --> 00:53:25,640
Speaker 4: on our channel, but when we started, we started a

1116
00:53:25,640 --> 00:53:29,400
Speaker 4: little over two years ago and it was the lowest

1117
00:53:29,440 --> 00:53:33,279
Speaker 4: start ever and when when we actually retired, I don't

1118
00:53:33,320 --> 00:53:37,640
Speaker 4: think we had even hit fifty thousand subscribers at that point.

1119
00:53:38,120 --> 00:53:40,799
Speaker 4: And so for us, when we started the channel, it

1120
00:53:40,840 --> 00:53:42,920
Speaker 4: was more like a friend had mentioned it to us

1121
00:53:42,920 --> 00:53:45,960
Speaker 4: because we were talking. We were always talking to family

1122
00:53:46,000 --> 00:53:48,600
Speaker 4: members and friends about listen, you guys should be doing this,

1123
00:53:48,719 --> 00:53:50,520
Speaker 4: you should save this money. I mean, we were sort

1124
00:53:50,520 --> 00:53:53,200
Speaker 4: of getting a little extra into people's business saying hey,

1125
00:53:53,320 --> 00:53:54,400
Speaker 4: why don't you invest in this?

1126
00:53:54,440 --> 00:53:55,560
Speaker 3: You should save what are you doing?

1127
00:53:56,840 --> 00:53:59,440
Speaker 4: But it just became something that we talked about so

1128
00:53:59,560 --> 00:54:01,200
Speaker 4: much that one of our friends said, hey, you should

1129
00:54:01,200 --> 00:54:03,440
Speaker 4: start this channel, and we thought, well, that is pretty

1130
00:54:03,480 --> 00:54:06,680
Speaker 4: cool because then we could tell people about fire, like

1131
00:54:06,680 --> 00:54:09,040
Speaker 4: like when we didn't know what fire was when we started.

1132
00:54:09,040 --> 00:54:10,960
Speaker 4: If someone was sort of guiding us and telling us

1133
00:54:11,080 --> 00:54:14,200
Speaker 4: about all these concepts, that would be really cool. So

1134
00:54:14,239 --> 00:54:17,960
Speaker 4: we started the channel, and we we absolutely did not

1135
00:54:18,120 --> 00:54:19,359
Speaker 4: think that our channel.

1136
00:54:19,040 --> 00:54:20,360
Speaker 3: Would grow like it was.

1137
00:54:20,440 --> 00:54:23,120
Speaker 4: So it was definitely not something where we're like, oh, yeah,

1138
00:54:23,160 --> 00:54:24,800
Speaker 4: we can we can rely on.

1139
00:54:24,719 --> 00:54:29,480
Speaker 3: YouTube and just retire early and live off of YouTube

1140
00:54:29,560 --> 00:54:32,480
Speaker 3: or something like that. That was definitely not the case.

1141
00:54:32,960 --> 00:54:35,719
Speaker 2: Oh yeah, and it became it became kind of like

1142
00:54:36,360 --> 00:54:39,000
Speaker 2: a gift that we couldn't give up. And when I

1143
00:54:39,040 --> 00:54:41,719
Speaker 2: say a gift is we have this ability to be

1144
00:54:41,760 --> 00:54:46,360
Speaker 2: able to really share and inspire people with our YouTube channel.

1145
00:54:46,600 --> 00:54:49,000
Speaker 2: So when we start our YouTube channel, we were doing

1146
00:54:49,000 --> 00:54:50,799
Speaker 2: it like two or three times a week, but since

1147
00:54:50,800 --> 00:54:53,960
Speaker 2: we retired, really do it once a week. But it's

1148
00:54:54,000 --> 00:54:56,319
Speaker 2: something that we want to keep doing because so many

1149
00:54:56,360 --> 00:55:00,040
Speaker 2: people are getting getting value out of it. But what

1150
00:55:00,080 --> 00:55:03,640
Speaker 2: happened was because we made so many videos, people were

1151
00:55:03,680 --> 00:55:07,560
Speaker 2: asking us like questions that were there were very linear

1152
00:55:07,640 --> 00:55:10,120
Speaker 2: questions like how to get to a to z And

1153
00:55:10,160 --> 00:55:11,640
Speaker 2: we would say, oh, you got to go back to

1154
00:55:11,840 --> 00:55:15,799
Speaker 2: video one hundred or video fifty five, and so we

1155
00:55:15,840 --> 00:55:18,440
Speaker 2: were like, okay, we need to do like a course

1156
00:55:18,520 --> 00:55:21,400
Speaker 2: they walk someone from A to Z And so that's

1157
00:55:21,440 --> 00:55:23,280
Speaker 2: when we came up with the idea for the course.

1158
00:55:24,400 --> 00:55:26,480
Speaker 2: But it was, you know, all of this was just

1159
00:55:27,520 --> 00:55:30,400
Speaker 2: it just it just kind of started to happen because

1160
00:55:30,440 --> 00:55:32,520
Speaker 2: we were being asked to do these things.

1161
00:55:32,719 --> 00:55:34,880
Speaker 4: Yeah, but I will also say that you know, people

1162
00:55:34,880 --> 00:55:37,000
Speaker 4: have been asking us for a while to do the course,

1163
00:55:37,040 --> 00:55:39,040
Speaker 4: and we're like, yeah, you know, maybe maybe we'll get

1164
00:55:39,040 --> 00:55:41,640
Speaker 4: around to it. But what really prompted us to do

1165
00:55:41,680 --> 00:55:45,160
Speaker 4: the course was COVID. Yes, because we were stuck in

1166
00:55:45,239 --> 00:55:48,640
Speaker 4: the house for over, over and over a month.

1167
00:55:48,680 --> 00:55:50,880
Speaker 2: Oh yes, if you see that course, my hair was

1168
00:55:50,920 --> 00:55:52,879
Speaker 2: looking raggedy the whole course.

1169
00:55:55,320 --> 00:55:57,920
Speaker 4: I know it's not as bad compared to people some

1170
00:55:57,920 --> 00:56:01,000
Speaker 4: people in the States, right, but yeah, we were getting fidgety, like,

1171
00:56:01,040 --> 00:56:03,760
Speaker 4: oh my gosh, we cannot just sit in this house

1172
00:56:03,920 --> 00:56:06,160
Speaker 4: and do nothing. And we were we were telling people,

1173
00:56:06,200 --> 00:56:08,520
Speaker 4: you know, go out and exercise, go out and read

1174
00:56:08,640 --> 00:56:11,120
Speaker 4: or exercise in your home, read, write, do what you

1175
00:56:11,200 --> 00:56:14,560
Speaker 4: can to stay productive. Don't try and be busy, because

1176
00:56:14,600 --> 00:56:16,399
Speaker 4: busy is just sort of taking up time.

1177
00:56:16,680 --> 00:56:18,080
Speaker 3: What can you do to be productive?

1178
00:56:18,160 --> 00:56:19,880
Speaker 4: And then we thought, you know what, why don't we

1179
00:56:19,960 --> 00:56:22,720
Speaker 4: just sit down and really focus on creating this course?

1180
00:56:23,040 --> 00:56:27,279
Speaker 4: And I think, you know, because we had that extra time,

1181
00:56:27,360 --> 00:56:29,680
Speaker 4: it was it was really a fun project to be

1182
00:56:29,760 --> 00:56:30,319
Speaker 4: able to do.

1183
00:56:31,960 --> 00:56:35,280
Speaker 1: I mean, y'all are so young, you're clearly incredibly intelligent.

1184
00:56:36,560 --> 00:56:41,120
Speaker 1: You guys have so much, so much energy, Like, so,

1185
00:56:41,160 --> 00:56:43,080
Speaker 1: what does retirement look like for y'all? Can you kind

1186
00:56:43,080 --> 00:56:46,000
Speaker 1: of paint the picture. You know, do you see yourselves

1187
00:56:46,440 --> 00:56:49,319
Speaker 1: kicking back on beaches? Like, what does your retirement look like?

1188
00:56:49,360 --> 00:56:54,960
Speaker 1: Do you think you'll be satisfied? You know with kicking obviously,

1189
00:56:55,080 --> 00:56:57,200
Speaker 1: you you know, sitting back in the house is not

1190
00:56:57,239 --> 00:56:59,680
Speaker 1: what you're excited about. I think those of us in

1191
00:56:59,719 --> 00:57:01,839
Speaker 1: corn or all just like, get us out of here.

1192
00:57:02,239 --> 00:57:04,600
Speaker 1: But talk about how do y'all plan on spending your

1193
00:57:04,600 --> 00:57:07,359
Speaker 1: retirement with the next fifty years ahead of you.

1194
00:57:08,520 --> 00:57:09,919
Speaker 2: Oh, we spend a lot of time at the beach,

1195
00:57:10,040 --> 00:57:14,440
Speaker 2: don't don't. Don't knock that. That's really nice. So uh,

1196
00:57:14,719 --> 00:57:16,800
Speaker 2: and that's one of the nice things about living here

1197
00:57:16,840 --> 00:57:19,360
Speaker 2: in Portugal is that we're near the water. The outdoors

1198
00:57:19,360 --> 00:57:22,720
Speaker 2: are really amazing, so we do spend a lot of

1199
00:57:22,720 --> 00:57:26,560
Speaker 2: time in the outdoors. We wanted to retire early. A

1200
00:57:26,600 --> 00:57:29,040
Speaker 2: big reason was so that we could spend more time

1201
00:57:29,200 --> 00:57:32,640
Speaker 2: with our girls. You know, after your children leave your house,

1202
00:57:33,000 --> 00:57:36,520
Speaker 2: you have already spent ninety percent of the time you're

1203
00:57:36,520 --> 00:57:38,440
Speaker 2: going to spend with them while they're in your house.

1204
00:57:38,640 --> 00:57:40,960
Speaker 2: After that, they're gone and they're you know, they're going

1205
00:57:41,040 --> 00:57:43,520
Speaker 2: to live their lives. So that's a gift that we

1206
00:57:43,560 --> 00:57:45,240
Speaker 2: also have, is that we get to spend more time

1207
00:57:45,240 --> 00:57:47,880
Speaker 2: with our kids. We get to coach our daughters in sports.

1208
00:57:47,960 --> 00:57:51,920
Speaker 2: Christina swims with Malia, I play basketball with Sona. We

1209
00:57:52,080 --> 00:57:58,480
Speaker 2: volunteer a lot. Recently, we've been doing calls with underserved

1210
00:57:58,560 --> 00:58:02,120
Speaker 2: kids talking about financial independence, talking about talking about money

1211
00:58:02,120 --> 00:58:05,920
Speaker 2: and financial literacy. And so what's really great is that

1212
00:58:05,960 --> 00:58:08,160
Speaker 2: we get to do whatever we want to do whenever

1213
00:58:08,160 --> 00:58:11,440
Speaker 2: we want to on Sunday nights. We don't have that

1214
00:58:11,560 --> 00:58:15,000
Speaker 2: anxiety that Monday morning is rolling around. So it's just

1215
00:58:15,840 --> 00:58:18,480
Speaker 2: it's really an unexplainable feeling to be able to have

1216
00:58:18,560 --> 00:58:20,800
Speaker 2: this freedom. And it goes back to what we talked

1217
00:58:20,800 --> 00:58:24,520
Speaker 2: about earlier, making that short term sacrifice for the long

1218
00:58:24,640 --> 00:58:27,840
Speaker 2: term gain. And yes, we're we're young and we have

1219
00:58:28,320 --> 00:58:30,120
Speaker 2: you know, we have a lot of things that we're

1220
00:58:30,440 --> 00:58:32,800
Speaker 2: that we're working on, but they're all things that we're

1221
00:58:32,840 --> 00:58:35,320
Speaker 2: passionate about and that's what we didn't have the ability

1222
00:58:35,360 --> 00:58:38,240
Speaker 2: to do before when we were working forty hours a week.

1223
00:58:38,520 --> 00:58:40,400
Speaker 2: You know, now we have those forty hours back to

1224
00:58:40,480 --> 00:58:42,120
Speaker 2: do whatever we want to do with them.

1225
00:58:42,600 --> 00:58:45,000
Speaker 4: And I really love that you asked that question too, Mandy,

1226
00:58:45,080 --> 00:58:50,040
Speaker 4: because I think when people are thinking about financial independence

1227
00:58:50,040 --> 00:58:50,840
Speaker 4: and retiring early.

1228
00:58:50,880 --> 00:58:51,640
Speaker 3: You know, there's this split.

1229
00:58:51,640 --> 00:58:53,960
Speaker 4: You could just do financial independence and you continue to

1230
00:58:54,000 --> 00:58:57,160
Speaker 4: do the job that you love, or you can.

1231
00:58:57,040 --> 00:58:58,160
Speaker 3: Actually retire early.

1232
00:58:58,280 --> 00:59:01,320
Speaker 4: And so I think when people are on that retire

1233
00:59:01,400 --> 00:59:04,320
Speaker 4: early path, if they ultimately want to retire early, they

1234
00:59:04,400 --> 00:59:08,280
Speaker 4: really need to envision what they think their life is

1235
00:59:08,360 --> 00:59:11,920
Speaker 4: going to be like when they retire, because I'll.

1236
00:59:11,840 --> 00:59:13,480
Speaker 3: Tell you, if you're just sort of.

1237
00:59:13,480 --> 00:59:16,440
Speaker 4: Running from something, if you're running from your job because

1238
00:59:16,440 --> 00:59:19,040
Speaker 4: you don't like your job, and so that's the reason

1239
00:59:19,080 --> 00:59:22,919
Speaker 4: you want to retire, your retirement may not feel very

1240
00:59:22,960 --> 00:59:25,640
Speaker 4: fulfilling because then you're in retirement and it's sort of like, well,

1241
00:59:25,640 --> 00:59:26,560
Speaker 4: what do I do now?

1242
00:59:26,880 --> 00:59:29,880
Speaker 3: But if you really envision what your life can be

1243
00:59:30,040 --> 00:59:31,000
Speaker 3: like in retirement.

1244
00:59:31,120 --> 00:59:33,400
Speaker 4: If you love to travel, if you love to cook,

1245
00:59:33,440 --> 00:59:35,600
Speaker 4: if you love to spend time with your kids and

1246
00:59:35,640 --> 00:59:38,040
Speaker 4: your family, if you love to work out, if you

1247
00:59:38,160 --> 00:59:41,040
Speaker 4: like to build things, those are all things that people

1248
00:59:41,120 --> 00:59:44,680
Speaker 4: can run towards versus running away from something. So they

1249
00:59:44,720 --> 00:59:47,120
Speaker 4: really have to think about if they want to pursue fire,

1250
00:59:47,200 --> 00:59:48,720
Speaker 4: what's the purpose behind that.

1251
00:59:49,520 --> 00:59:55,400
Speaker 1: I love that you guys have inspired me to expand

1252
00:59:55,640 --> 00:59:59,400
Speaker 1: my own possibilities for what the next decade and beyond

1253
00:59:59,440 --> 01:00:02,400
Speaker 1: can look like. And I love that you guys have

1254
01:00:03,120 --> 01:00:06,320
Speaker 1: You've proven to I think so many people like don't

1255
01:00:06,320 --> 01:00:08,240
Speaker 1: even know how to imagine a world where they don't

1256
01:00:08,280 --> 01:00:11,640
Speaker 1: work for someone else, you know, like or and if

1257
01:00:11,680 --> 01:00:13,520
Speaker 1: they don't work for someone then it's like owning their

1258
01:00:13,560 --> 01:00:17,040
Speaker 1: own business or whatever. But what about a world where

1259
01:00:17,720 --> 01:00:21,440
Speaker 1: you're just free to, you know, work on what you

1260
01:00:21,560 --> 01:00:26,120
Speaker 1: find fulfilling, be with your family, like it's really it's

1261
01:00:26,200 --> 01:00:28,240
Speaker 1: it's a little sad to me that this is such

1262
01:00:28,680 --> 01:00:32,360
Speaker 1: like an extraordinary mindset to have. But you guys truly

1263
01:00:32,400 --> 01:00:35,840
Speaker 1: are extraordinary because you have You've seen it, and you

1264
01:00:35,920 --> 01:00:38,200
Speaker 1: said this should be the normal, Like this should be

1265
01:00:38,200 --> 01:00:40,480
Speaker 1: the norm, This will be our normal. We are going

1266
01:00:40,480 --> 01:00:42,680
Speaker 1: to create the life that we want. And I it

1267
01:00:42,800 --> 01:00:46,560
Speaker 1: really resonates with me, if you can't tell, because I

1268
01:00:46,600 --> 01:00:52,000
Speaker 1: feel like I am on this path toward this a

1269
01:00:52,040 --> 01:00:55,600
Speaker 1: good life, but a good life according to the you know,

1270
01:00:55,640 --> 01:00:59,680
Speaker 1: what's what's considered the norm in America and what's considered

1271
01:01:00,120 --> 01:01:02,360
Speaker 1: a good life according to I don't know what the

1272
01:01:02,400 --> 01:01:06,960
Speaker 1: mainstream idea of a good life is. And I'm starting

1273
01:01:07,000 --> 01:01:10,160
Speaker 1: to even challenge my own expectations and challenge some of

1274
01:01:10,200 --> 01:01:12,560
Speaker 1: the own some of my own ways of thinking about

1275
01:01:12,640 --> 01:01:15,400
Speaker 1: the next couple of decades in my life. And I mean,

1276
01:01:15,440 --> 01:01:17,560
Speaker 1: even just being stuck in quarantine with my baby. You

1277
01:01:17,600 --> 01:01:19,280
Speaker 1: can probably hear me in the background. He's a very

1278
01:01:19,400 --> 01:01:23,800
Speaker 1: vocal eater. He gets really mad, he very angry. He's

1279
01:01:23,800 --> 01:01:27,240
Speaker 1: my child. But even just being in quarantine, I'm like, oh,

1280
01:01:27,320 --> 01:01:29,200
Speaker 1: so I could just work at home and be with

1281
01:01:29,240 --> 01:01:33,040
Speaker 1: the baby all the time. This isn't that bad anyway.

1282
01:01:32,440 --> 01:01:35,680
Speaker 1: I just want to thank y'all because I'm so glad

1283
01:01:35,720 --> 01:01:40,320
Speaker 1: that you are sharing your story and I know that

1284
01:01:41,120 --> 01:01:43,040
Speaker 1: forget about you know you can, we can forget about

1285
01:01:43,120 --> 01:01:45,439
Speaker 1: race for a second. I mean, the show is called

1286
01:01:45,440 --> 01:01:48,520
Speaker 1: Brown Ambition, so it's always there. We acknowledge we are

1287
01:01:48,520 --> 01:01:51,240
Speaker 1: two black women speaking to an audience, and first and

1288
01:01:51,280 --> 01:01:53,760
Speaker 1: foremost we want to talk to other black women and

1289
01:01:53,800 --> 01:01:56,160
Speaker 1: how to build wealth because we understand that, you know,

1290
01:01:56,200 --> 01:01:58,080
Speaker 1: there's not a lot of people like us talking to them.

1291
01:01:58,120 --> 01:02:01,800
Speaker 1: And I am you guys are like unicorns, you know,

1292
01:02:01,840 --> 01:02:05,240
Speaker 1: in the Fire Movement, a black couple with two daughters

1293
01:02:05,280 --> 01:02:08,080
Speaker 1: and your girls seeing them. And I even said this

1294
01:02:08,120 --> 01:02:10,320
Speaker 1: to Christina in the email. I really meant it. If

1295
01:02:10,400 --> 01:02:13,560
Speaker 1: only I had seen your two girls talking about financial

1296
01:02:14,680 --> 01:02:18,440
Speaker 1: financial Uh uh what am I thinking? Like, what are

1297
01:02:18,440 --> 01:02:21,200
Speaker 1: we talking about investing investing in all building at a

1298
01:02:21,200 --> 01:02:23,360
Speaker 1: young age when I was, you know, twelve or thirteen.

1299
01:02:23,960 --> 01:02:27,480
Speaker 1: Y'all are so important and your stories are so important.

1300
01:02:27,480 --> 01:02:31,200
Speaker 1: And I and thank y'all for using your time when

1301
01:02:31,200 --> 01:02:35,080
Speaker 1: you could be doing anything else to educate and pour

1302
01:02:35,240 --> 01:02:38,160
Speaker 1: back into communities who may not be getting this kind

1303
01:02:38,160 --> 01:02:41,240
Speaker 1: of knowledge. I it just it's out shut up now.

1304
01:02:41,280 --> 01:02:43,120
Speaker 1: But it's just y'all are the best.

1305
01:02:43,520 --> 01:02:44,320
Speaker 2: Thank you so much.

1306
01:02:44,880 --> 01:02:48,160
Speaker 3: It's so nice. It's it's so nice. So you know,

1307
01:02:48,200 --> 01:02:50,000
Speaker 3: we wanted to talk to you guys anyway. So it

1308
01:02:50,080 --> 01:02:53,480
Speaker 3: was just like, oh, it's your baby that this is

1309
01:02:53,480 --> 01:02:53,919
Speaker 3: it right?

1310
01:02:54,120 --> 01:02:57,640
Speaker 5: Like e pitome of brown ambition.

1311
01:02:57,760 --> 01:02:59,440
Speaker 6: And I think that it's just good for people to

1312
01:02:59,520 --> 01:03:02,360
Speaker 6: see that life can be lived differently, you.

1313
01:03:02,280 --> 01:03:07,800
Speaker 1: Know, and one hundred million less words than what I used.

1314
01:03:09,320 --> 01:03:14,560
Speaker 6: No, So just just because Amandy and I are, the

1315
01:03:14,640 --> 01:03:15,760
Speaker 6: way we live.

1316
01:03:15,680 --> 01:03:17,560
Speaker 5: Is so different, so they get to see different sides

1317
01:03:17,600 --> 01:03:18,080
Speaker 5: of like.

1318
01:03:18,440 --> 01:03:21,920
Speaker 6: From both of us being bosses in our own right,

1319
01:03:22,080 --> 01:03:24,440
Speaker 6: but via the corporate side or owning your own business.

1320
01:03:24,480 --> 01:03:26,920
Speaker 5: So this is just a nice we're pre from.

1321
01:03:27,280 --> 01:03:29,919
Speaker 6: This is another way to live and people can find

1322
01:03:29,960 --> 01:03:32,320
Speaker 6: themselves in your journey, so we do really thank you,

1323
01:03:32,760 --> 01:03:33,240
Speaker 6: thank you.

1324
01:03:33,320 --> 01:03:36,120
Speaker 3: Thank you guys. Yeah, I'm so glad we able to

1325
01:03:36,120 --> 01:03:36,680
Speaker 3: talk to you.

1326
01:03:37,360 --> 01:03:40,680
Speaker 1: Well. Thank y'all, and and go live your fabulous life.

1327
01:03:42,200 --> 01:03:45,800
Speaker 1: You now on folks where they can find you. Your

1328
01:03:45,960 --> 01:03:50,760
Speaker 1: your our Rich Journey on YouTube, on Instagram, anything else

1329
01:03:50,840 --> 01:03:52,720
Speaker 1: y'all want to anything you'll want to promote.

1330
01:03:53,720 --> 01:03:55,840
Speaker 4: Oh no, you know you mentioned our daughters too. They

1331
01:03:55,880 --> 01:03:58,840
Speaker 4: have their channel out so it's called Our Rich Journey Junior.

1332
01:03:59,160 --> 01:04:00,880
Speaker 2: So the kids some love.

1333
01:04:01,160 --> 01:04:03,080
Speaker 3: Yeah, check the girls out also.

1334
01:04:03,280 --> 01:04:05,520
Speaker 2: Yeah, but that's really where you can find us is

1335
01:04:05,560 --> 01:04:10,000
Speaker 2: on YouTube or Instagram at Rich Journey and send us

1336
01:04:10,000 --> 01:04:13,880
Speaker 2: a message. We eventually get to all of the questions.

1337
01:04:13,880 --> 01:04:15,760
Speaker 2: I mean, we are retired, we have nothing else to do.

1338
01:04:19,880 --> 01:04:20,400
Speaker 5: I love it.

1339
01:04:20,600 --> 01:04:24,320
Speaker 1: Join the journey. That's how you always end your YouTube videos.

1340
01:04:25,680 --> 01:04:28,960
Speaker 1: Go join the journey. Thank y'all for sharing your story

1341
01:04:29,000 --> 01:04:30,520
Speaker 1: with us. I would love to have y'all on the

1342
01:04:30,520 --> 01:04:35,320
Speaker 1: show again sometime in the future. But be well, stay healthy. Yes,

1343
01:04:35,480 --> 01:04:37,360
Speaker 1: I mean honestly, y'all should be wishing us luck. I

1344
01:04:37,400 --> 01:04:39,600
Speaker 1: feel like we're the one I feel like y'all are

1345
01:04:39,640 --> 01:04:42,040
Speaker 1: on the right track in Portugal. But yeah, be well,

1346
01:04:42,080 --> 01:04:44,439
Speaker 1: stay healthy and thank y'all again for coming on the show.

1347
01:04:44,760 --> 01:04:46,600
Speaker 5: Yes, thanks so much guys.

1348
01:04:47,480 --> 01:04:50,520
Speaker 1: WHOA Okay, so did I embarrass myself? Was that too

1349
01:04:50,560 --> 01:04:53,520
Speaker 1: much of a fan girl? No, they were for Christina.

1350
01:04:53,200 --> 01:04:57,200
Speaker 6: And mon Honestly, they were amazing and they I mean

1351
01:04:57,320 --> 01:04:59,439
Speaker 6: as much as I think that we're pretty fru gol,

1352
01:04:59,520 --> 01:05:01,080
Speaker 6: I mean, yes, I know, you know explorers, but you

1353
01:05:01,080 --> 01:05:03,120
Speaker 6: know you and I are pretty like to go with

1354
01:05:03,120 --> 01:05:06,160
Speaker 6: our finances and savvy with our finances. It just made

1355
01:05:06,200 --> 01:05:09,840
Speaker 6: me look at some of the choices that I'm you know,

1356
01:05:09,880 --> 01:05:11,840
Speaker 6: that I'm choosing for myself and my family a little

1357
01:05:11,880 --> 01:05:15,320
Speaker 6: bit differently. So it was so amazing. I'm totally going

1358
01:05:15,360 --> 01:05:17,160
Speaker 6: to stalk them on YouTube so just so they.

1359
01:05:17,080 --> 01:05:20,160
Speaker 1: Know their channel is good. I know that, and it's

1360
01:05:20,200 --> 01:05:22,160
Speaker 1: worth a time too. I think I just turned on

1361
01:05:22,200 --> 01:05:23,840
Speaker 1: their channel and I just had it on for an

1362
01:05:23,920 --> 01:05:28,080
Speaker 1: entire weekend. They're They're truly really knowledgeable and if you

1363
01:05:28,120 --> 01:05:31,040
Speaker 1: hear things banging in the background, it's just the babies here.

1364
01:05:31,080 --> 01:05:35,400
Speaker 1: Hey see, hey everybody. Yeah, I think it's great to

1365
01:05:35,400 --> 01:05:38,439
Speaker 1: hear different perspectives. And they call it our rich journey

1366
01:05:38,480 --> 01:05:40,440
Speaker 1: because it's their journey, doesn't mean that it's the right

1367
01:05:40,520 --> 01:05:42,400
Speaker 1: journey or the one that you need to take. But

1368
01:05:43,240 --> 01:05:45,720
Speaker 1: I think in so many ways, you need to see

1369
01:05:45,760 --> 01:05:48,959
Speaker 1: someone else living life by example so that you start

1370
01:05:49,000 --> 01:05:52,400
Speaker 1: to think about what's possible for yourself. And I think

1371
01:05:52,440 --> 01:05:55,080
Speaker 1: for you know, I've been pretty cynical about the whole

1372
01:05:55,120 --> 01:05:58,800
Speaker 1: Fire movement, and they have totally changed the way I

1373
01:05:58,880 --> 01:06:01,560
Speaker 1: think about it. And they have shown me that there's

1374
01:06:01,880 --> 01:06:03,640
Speaker 1: like if I was going to do fire, this is

1375
01:06:03,640 --> 01:06:07,160
Speaker 1: the way to do yes. And it's it's about freedom.

1376
01:06:07,400 --> 01:06:10,720
Speaker 1: It's about freedom. It's the freedom that people have who

1377
01:06:10,800 --> 01:06:14,120
Speaker 1: are lucky enough to come from wealthy family or you know,

1378
01:06:14,200 --> 01:06:16,640
Speaker 1: to have inheritances or you know, things like that. It's

1379
01:06:16,680 --> 01:06:19,120
Speaker 1: creating a space for yourself where you can do whatever

1380
01:06:19,160 --> 01:06:20,880
Speaker 1: the f you want and you're not trapped in this

1381
01:06:20,960 --> 01:06:24,520
Speaker 1: cycle of you know, someone else's version of success just

1382
01:06:24,560 --> 01:06:25,360
Speaker 1: so you can get by.

1383
01:06:25,560 --> 01:06:26,200
Speaker 5: No. I love that.

1384
01:06:26,280 --> 01:06:27,800
Speaker 6: I just yeah, like I said, I'm going to totally

1385
01:06:27,840 --> 01:06:30,960
Speaker 6: stalk their page, rethink some of the things choices that

1386
01:06:31,000 --> 01:06:31,480
Speaker 6: we're making.

1387
01:06:32,200 --> 01:06:36,640
Speaker 1: And do you think Supergirl will check out their junior

1388
01:06:36,960 --> 01:06:37,800
Speaker 1: the junior edition?

1389
01:06:38,280 --> 01:06:42,400
Speaker 6: Maybe she certainly she's working now and she's making some money,

1390
01:06:42,480 --> 01:06:46,360
Speaker 6: and so entrepreneurship is something that she has been really

1391
01:06:46,400 --> 01:06:49,480
Speaker 6: interested in, and she's been doing that, Like you know,

1392
01:06:49,520 --> 01:06:51,480
Speaker 6: she has her own lip gloss line that's on Etsy,

1393
01:06:51,640 --> 01:06:55,200
Speaker 6: and what I know, she don't know, So I don't

1394
01:06:55,240 --> 01:06:56,920
Speaker 6: know if remember that she was, you know, like I

1395
01:06:56,960 --> 01:06:58,640
Speaker 6: told you, like a little while ago, she was hawking

1396
01:06:58,680 --> 01:07:00,600
Speaker 6: these rubber band bracelets that she made from a kit

1397
01:07:00,720 --> 01:07:03,560
Speaker 6: someone gave her for Christmas because she remember I told you,

1398
01:07:03,600 --> 01:07:06,840
Speaker 6: she wanted my Superman and I to invest in her business.

1399
01:07:06,840 --> 01:07:08,520
Speaker 6: And she's like for the low rate of four hundred

1400
01:07:08,520 --> 01:07:09,400
Speaker 6: and fifty dollars.

1401
01:07:09,440 --> 01:07:10,280
Speaker 3: I was like, oh, you.

1402
01:07:10,240 --> 01:07:12,680
Speaker 1: Tried it, so we wait a second, we have not

1403
01:07:12,680 --> 01:07:14,240
Speaker 1: talked about So.

1404
01:07:14,120 --> 01:07:16,680
Speaker 6: That's what she wanted because she wanted to start the

1405
01:07:16,680 --> 01:07:20,080
Speaker 6: lip gloss business. So she did this whole presentation where

1406
01:07:20,240 --> 01:07:22,080
Speaker 6: she was like, this is how much it's going to

1407
01:07:22,080 --> 01:07:24,800
Speaker 6: cost me to get all the materials and things I

1408
01:07:24,840 --> 01:07:27,800
Speaker 6: need And we were like, yeah, no, the most.

1409
01:07:27,680 --> 01:07:28,560
Speaker 5: You're getting is fifty.

1410
01:07:28,600 --> 01:07:30,680
Speaker 6: And even if you get fifty, that's because you have

1411
01:07:30,720 --> 01:07:32,960
Speaker 6: to earn fifty. That's the most you're squeezing out of us.

1412
01:07:33,240 --> 01:07:36,840
Speaker 6: So need let's just say she wasn't happy. But what

1413
01:07:36,880 --> 01:07:40,040
Speaker 6: she did do is somebody gave her this rubber band

1414
01:07:40,120 --> 01:07:42,000
Speaker 6: kit where you can make bracelet and rings out of

1415
01:07:42,040 --> 01:07:45,000
Speaker 6: these like cool, like brightly colored rubber bands. So she

1416
01:07:45,000 --> 01:07:47,160
Speaker 6: started making them, and she started selling them, and she

1417
01:07:47,200 --> 01:07:48,600
Speaker 6: made a few hundred bucks on her own.

1418
01:07:49,440 --> 01:07:51,800
Speaker 5: She didn't even need our fifty, thank you very much.

1419
01:07:52,080 --> 01:07:55,400
Speaker 6: And then graduation money kicked in and she was able

1420
01:07:55,440 --> 01:07:58,280
Speaker 6: to fund her own business. With graduation money and her

1421
01:07:58,360 --> 01:08:01,240
Speaker 6: rubber band business, it was like business to fund the business.

1422
01:08:01,440 --> 01:08:03,800
Speaker 6: And so now, I mean, she literally spends hours a

1423
01:08:03,840 --> 01:08:06,800
Speaker 6: day making her lip gloss kits and like putting them together.

1424
01:08:07,160 --> 01:08:09,280
Speaker 6: And I'm honestly really proud of her because I'm.

1425
01:08:09,080 --> 01:08:10,800
Speaker 5: Like, look a supergirl, you know who.

1426
01:08:10,840 --> 01:08:12,240
Speaker 6: She's trying to be like right as much as she

1427
01:08:12,280 --> 01:08:14,040
Speaker 6: tries to act like she don't want to be like me,

1428
01:08:14,840 --> 01:08:18,000
Speaker 6: but that's.

1429
01:08:17,760 --> 01:08:20,160
Speaker 1: How it goes though, Like she can't let you know

1430
01:08:20,240 --> 01:08:22,080
Speaker 1: that you inspire her and that she loves you and

1431
01:08:22,080 --> 01:08:23,600
Speaker 1: wants to be just like you when she grows up.

1432
01:08:23,640 --> 01:08:26,439
Speaker 6: But she's watching I know, so like no, but honestly

1433
01:08:26,479 --> 01:08:28,240
Speaker 6: it's really dope to like watch her navigate.

1434
01:08:29,120 --> 01:08:31,680
Speaker 5: Yeah no, and I will say, like will this is

1435
01:08:31,720 --> 01:08:32,439
Speaker 5: like a little aside.

1436
01:08:32,479 --> 01:08:35,920
Speaker 6: So I signed her up for Black Girls Lead, like

1437
01:08:35,960 --> 01:08:38,479
Speaker 6: the Summer the digital kind of like summer Camp, I

1438
01:08:38,479 --> 01:08:41,760
Speaker 6: guess for girls. That's hosted by Black Girls Rock and

1439
01:08:41,880 --> 01:08:45,400
Speaker 6: Michelle Obama did the opening speech, and then came Missy

1440
01:08:45,479 --> 01:08:47,679
Speaker 6: Copeland and then somebody else. So I think I was fourth,

1441
01:08:47,760 --> 01:08:50,519
Speaker 6: Like right after Michelle Obama geeked and the next day

1442
01:08:50,560 --> 01:08:53,479
Speaker 6: she was like, Tiffy, do you know that your session

1443
01:08:53,560 --> 01:08:56,000
Speaker 6: was top rated for yesterday? I'm like, what do you mean?

1444
01:08:56,400 --> 01:08:58,439
Speaker 6: She was like, we had to vote who our favorite was,

1445
01:08:58,479 --> 01:09:00,639
Speaker 6: and you got twenty eight percent of the votes. I

1446
01:09:00,680 --> 01:09:02,200
Speaker 6: was like, not over, miss Michelle.

1447
01:09:03,439 --> 01:09:04,479
Speaker 5: Yes, I was like these kids.

1448
01:09:04,640 --> 01:09:06,439
Speaker 1: I mean not that I'm surprised, of course, I know

1449
01:09:06,520 --> 01:09:08,479
Speaker 1: that you're fabulous, but I was.

1450
01:09:08,520 --> 01:09:10,439
Speaker 6: Like, but honestly, I'm like, these kids don't know no better,

1451
01:09:10,479 --> 01:09:11,080
Speaker 6: because don't.

1452
01:09:10,960 --> 01:09:11,719
Speaker 5: Nobody beat Michelle.

1453
01:09:11,760 --> 01:09:12,519
Speaker 3: But I take it.

1454
01:09:13,560 --> 01:09:15,880
Speaker 6: She was like super Yeah, she was super excited because

1455
01:09:15,880 --> 01:09:18,320
Speaker 6: she was like because in it, I had pre recorded mine,

1456
01:09:18,400 --> 01:09:20,519
Speaker 6: I talked about her and used her as an example

1457
01:09:20,520 --> 01:09:22,320
Speaker 6: of how you can make money on your own. So

1458
01:09:22,439 --> 01:09:24,439
Speaker 6: for the girls to listen and watch, I could tell

1459
01:09:24,479 --> 01:09:27,200
Speaker 6: she felt really special, like it's me, she's talking about me,

1460
01:09:27,320 --> 01:09:28,720
Speaker 6: so we're friends again for now?

1461
01:09:30,080 --> 01:09:33,479
Speaker 1: Right now? Amen to that listen Oh, that's amazing. I

1462
01:09:33,479 --> 01:09:36,920
Speaker 1: can't wait to see how Rio grows up. I'm I'm

1463
01:09:36,960 --> 01:09:39,040
Speaker 1: kind of obsessed with thinking about what he'll be. And

1464
01:09:40,280 --> 01:09:43,800
Speaker 1: I'm just I think as a parent, I'm afraid because

1465
01:09:43,840 --> 01:09:45,639
Speaker 1: you know how like your kids will do the opposite

1466
01:09:45,680 --> 01:09:48,280
Speaker 1: of what you want sometimes, like I don't want to,

1467
01:09:48,320 --> 01:09:50,800
Speaker 1: I don't like how much is too much? And should

1468
01:09:50,840 --> 01:09:53,120
Speaker 1: I go like all in on teaching him stuff? She

1469
01:09:53,280 --> 01:09:54,720
Speaker 1: let him find it on his own. I don't know.

1470
01:09:54,800 --> 01:09:56,880
Speaker 1: That's why I'm so fascinated by Christina and i'm on

1471
01:09:57,000 --> 01:09:59,599
Speaker 1: because their girls seem to have such a healthy not

1472
01:09:59,680 --> 01:10:03,280
Speaker 1: just not only do they understand the different financial topics

1473
01:10:03,280 --> 01:10:06,080
Speaker 1: that their parents talk about, but they're all so curious

1474
01:10:06,120 --> 01:10:08,360
Speaker 1: and excited to do it themselves, Like how did they

1475
01:10:08,400 --> 01:10:10,880
Speaker 1: do that? I know I'm going to be studying them

1476
01:10:10,880 --> 01:10:14,960
Speaker 1: for I know everybody in a really creepy way just

1477
01:10:15,280 --> 01:10:17,120
Speaker 1: sending I'm just going to slide into their dms all

1478
01:10:17,160 --> 01:10:20,080
Speaker 1: the time. Well, I loved having them on the show.

1479
01:10:20,120 --> 01:10:22,840
Speaker 1: And if y'all like, who else are we missing? Who

1480
01:10:22,840 --> 01:10:25,160
Speaker 1: else are y'all like? Who's on YouTube? Who's out there

1481
01:10:25,240 --> 01:10:27,680
Speaker 1: that who have fabulous stories that are inspiring y'all that

1482
01:10:27,720 --> 01:10:29,840
Speaker 1: y'all want to hear more from We'd love to get

1483
01:10:29,840 --> 01:10:31,800
Speaker 1: in touch with them and have more folks on the show.

1484
01:10:32,280 --> 01:10:34,599
Speaker 5: We certainly would, We certainly would.

1485
01:10:35,720 --> 01:10:38,920
Speaker 1: All Right, Well, thank y'all for another beautiful week of

1486
01:10:38,960 --> 01:10:39,599
Speaker 1: Brown Ambition.

1487
01:10:39,720 --> 01:10:46,919
Speaker 4: We'll see y'all next week, next week,