PB51: The $500K Struggle Revisited ft. Financial Samurai

Apr 25, 2017

Time to re-up and recycle the flow. What does that even mean? Well, this week we re-visit our fastest downloaded podcast ever, PB47: Barely Making It on $500K! As an added bonus, we feature half-man, half-legend and guest, the Financial Samurai himself! Financial Samurai (Sam Dogen) got his MBA from Cal and spent over 10 years working in the finance industry. After 13 years of working in Corporate America and living the "American Dream," money ceased to be a major driving factor. Instead, Sam wanted to live absolutely financially free. He fantasized about what it would be like to write, spend time with family, and travel, with little financial worries. Three years after starting FinancialSamurai.com in 2009? Mission Accomplished! Sam helped us cover a wide range of topics on this entertaining show, so when you play the new PB all the listeners go crazy! This week's show covers:

• Sam share the story when he finally realized what's really important in life and why he walked away from the "American Dream" and a six-figure income to pursue his own dreams, and ultimately, find true happiness
• The thorough planning steps and sacrifices Sam made includring a combination of savings, smart investing, and passive income that allowed him to leave the rat race and begin working for himself full-time
  • "If your saving (plan) isn't painful, you're not saving enough" - Sam
• Lessons learned and wisdom gained from the $500,000 viral article read around the internet
• It was all good about a week ago, until we decided to wrap up the show with a discussion on "The New Rule for Engagement Ring Buying"

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

• From FinancialSumari.com
  • Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape
  • A $500,000 Redo: How One Couple Got Their Mojo Back!
  • The New Rule for Engagement Ring Buying

Announcements

April is Financial Literacy Month! To celebrate and get your personal finances in order, check out Marcus' interviews with NerdWallet:

• What You Can Learn About Saving From a Former Spender - "Marcus Garrett is a natural spender. Saving money, on the other hand, was more of an acquired skill..." This articles focuses on tips Marcus uses to force automate his budget and savings plans because, as we all know, budgeting sucks.
• How One Man Dug Out From $30,000 in Debt - The story covers 5 tips Marcus used to get out of and state out of debt and includes a FREE 50/30/20 budget tool from NerdWallet.

New Posts Alert! Rich and Marcus tackled a personal finance topic and listener question this month. Check them out!

• Personal Finance: I Can’t Get Down With Ditching Digit
• Ask PB: Should I Save for Retirement or Pay Off My Credit Cards First?

Check out Rich's roundtable feature with Stacking Benjamins!