58: Financially Independent, Time Rich with Lacey Filipich

Is saving money something you’ve always struggled with?

Does having the freedom to do what you want, when you want, with who you want, seem impossible given your current situation?

Or are you scared to take that first step because you have no idea how to start?

Most of us think it’s already too late to start saving towards economic freedom…

We resign ourselves to the hamster wheel until we become too old to enjoy anything in life…

And when we get a little older, only then do we look back and ask ourselves, “Why didn’t you do it sooner?” 

Is that really the kind of future that we want to have?

Well, it’s time to get FITR.

Today, we have an incredibly insightful episode with Lacey Filipich, founder of Money School, on how to be financially independent and be more time rich.

We’ll be talking about F.I.R.E. and the concept behind it…

The benefits of being FITR (and taking mini-retirements)…

Why any form of investment needs to be given due diligence…

And so much more!

See you on the inside!

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In this episode, we cover:

  1. Sowing her first few seeds towards financial independence [06:01]
  2. Becoming free at 30 [10:39]
  3. The concept behind F.I.R.E. [14:36]
  4. No need to live like a monk – just live the minimum, viable life & prioritise [17:29]
  5. Getting into the habit of saving [21:08]
  6. Keep a balance between awareness of an unknown future and having fun [25:01]
  7. The benefits of being FITR and taking mini-retirements [33:40]
  8. Properties require a lot of work but have the quickest capital growth [36:28]
  9. Cash flow continues to increase as rents go up [40:38]
  10. We invest in property for the leverage [42:21]
  11. Is yield more important than growth, or is it the other way around? [46:38]
  12. Don’t buy a property without doing due diligence [48:01]
  13. The motivation behind Money School [50:20]
  14. The image of success for Lacey [56:16]
  15. Lacey’s advice on not giving up [58:23]

Links from the show:

About Our Guest:

Lacey Filipich helps people become financially independent and reclaim their lives. She founded Money School in 2010 to build financial capability in adults and Maker Kids Club in 2017 to teach children money skills through enterprise. Her first non-fiction book ‘Money School: Become financially independent and reclaim your life’ was published with Penguin Random House in February 2020. She is a TEDx speaker and the winner of a 2019 Business News ’40 under 40′ Award.

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