Episode 24, Understanding Financial Independence Number (FIN) and Investment Lifestyle

In this comprehensive discussion, Jake and Lincoln talk about the concept of Financial Independence Number (FIN), a target you aim for that will allow you to retire without worrying about money. They emphasize how investing is not only about money but it is a lifestyle that needs to be incorporated and nurtured. The hosts break down calculations and explain how inflation will drastically change required income over the years. The session allows listeners to understand the value of investing for reasons other than tax breaks and the risk of over-housing oneself. They play around with different percentages of investment and demonstrate potential inflation impacts. The episode is an encouragement to listeners to build an investment lifestyle and develop a saving mindset as it assures one a better future and contingency plans for unpredictable life scenarios.

00:00 Introduction and Catching Up

00:58 Reflecting on the Last Episode and Listener Feedback

02:11 Addressing Listener Questions: Basement Suite Rentals

05:21 Transitioning to the Main Topic: The Financial Independence Number

05:55 Understanding the Financial Independence Number

08:15 Calculating Your Financial Independence Number

10:20 The Power of Investing 10% of Your Income

12:14 Understanding Your Financial Commitments

12:49 The Impact of Rising Incomes and Real Estate Prices

14:02 Investing as a Lifestyle

14:10 Upcoming Investment Course

14:34 The Paradigm Shift in Investing

15:19 The Importance of Saving Money

17:50 Understanding Your FIN Number

22:23 The Five Reasons to Save Money

23:28 Reaching Out for Financial Advice

24:05 Closing Thoughts on Money and Character

E-mail: JakeandLincoln@gmail.com