Episode 046 – The Why and What of FI 🧐
Hello listeners! Today we dive into the very basics of this podcast: What does financial independence mean and why does it matter so much? We do it by getting to know the personal history and motivation of each one of our three hosts, and how they are actually working to reach their objective. This is a very personal episode and we hope you will find it useful!
We also talk about:
- The history of FI
- What it actually is
- Target numbers and strategies
- Saving vs. earning
- Choosing and building skills
- Amazon’s strategies
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Alvar’s journey towards FI
Alvar’s first encounter with the FI movement happened almost by chance. An accident while being at work when he was living in New Zealand about two years ago forced him to stay at home for some time: with lots of time on his hands, he started googling around for strategies to save money and invest effectively and found the Mad Fientist podcast, which put him in contact with the whole movement. Always being a frugal person, he instantly got in tune with the principles of the movement, which he identifies as a way to build a better relationship with money and ultimately live a better life.
How Araminta got in touch with the FI movement
Araminta started learning about the whole financial independence concept when she realized that she didn’t have a financial education at all. She started the Financially Mint blog primarily as a tool for self education, and used it to meet interesting people, start a podcast and being a personal finance nerd. Being in her early 20s, she has a very personal approach to FI, focusing more on skills than on wealth accumulation.
Mathias’s mix of strategies to FI
Mathias also found out about the FI movement through the internet, getting to know the US experiences first. He had invested in stock market and startups long before this, as a way to have more leverage in terms of time and money. He finds FI as a great way to elevate the quality of his life by leveraging his full potential, without getting stuck into an anxiety mindset: it’s not about quitting his job, which he actually enjoys, it’s about taking care of his family and having the possibility to make choices with full confidence.
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