Fire Drill

Email me at j@firedrillpodcast.com

My name is Rachel Teodoro and I am a mom of three kids living in the greater Seattle area with my husband Mike, who is a mechanical engineer. We met while attending Purdue University in West Lafayette, Indiana. I am a lover of all things thrifty and can be found trolling for garage sales nearly every weekend. I like to craft, create and decorate my home with my thrifty finds. I am always happy to share my tips and tricks for living well on less. From Rachel's website - https://www.rachelteodoro.com/ Popular Posts of Rachel's: No Spend Challenge overview Our No Spend Challenge rules No Spend Challenge blog posts: The Real Cost of the Impulse Buy Saving money on Utilities Surprising Library Benefits that will save you Money How to Save Money with a Pantry Challenge 20 Things Frugal People Do Every Day Rachel on Social: Twitter - https://twitter.com/msrachelteodoro Facebook -https://www.facebook.com/msrachelteodoro/ Instagram: https://www.instagram.com/msrachelteodoro/

We are Ali and Alison Walker, and we used to call Seattle, Washington our home. We met in 2004, married in 2006, and retired in 2018. After reaching Financial Independence we wanted a complete and total change from our career-focused lives. We decided that meant leaving our Seattle life behind and making travel our new lifestyle. By November of 2018 we had sold our home and car, let go of 99% of our belongings, and left Seattle to travel the world indefinitely. From their blog, All Options Considered https://alloptionsconsidered.com

An important discussion about the Baby Boomer generation and healthcare in the US with Medicare insurance expert Danielle Kunkle. Boomer Benefits

Nancy's freebie on the decision making process Her YouTube channel: Dr Nancy Li

Enjoy this special live podcast episode with early retiree Dave Homyak. You can join the Facebook group here.

Today's episode is with Sasha of Your Frugal Friend blog and Etsy shop. Sasha is a thirty-something mother of two and accountant who makes incredible budgeting spreadsheets and sells them on Etsy. She has paid off over $60,000 of debt to date and is on the path to financial independence in Austin, Texas. Learn more about Sasha: Sasha's Blog Etsy Shop YouTube Channel Other links: Etsy Printables Course Podcast Facebook group for Live Episodes

Today's episode is sponsored by the EconoMe Conference which is a conference for the financial independence community on March 7th, 2020 in Cincinnati, Ohio. You can win a free ticket to the event by commenting on this thread in our Facebook group. Fire Drill listeners receive 10% off tickets for this event using the code FIREDRILL. Learn more here: https://economeconference.com

Links from today's episode: Doug's Personal Training Website: Monumental Strength The top 5 downloaded episodes of 2019: A Purple Life Episode Mortgage Payoff Debate Grant Sabatier of Millennial Money JT Episode Tanja Hester

Have you ever dreamt of pursuing a digital nomad lifestyle? Eric started his digital nomad journey by joining a work travel program called Remote Year after saving up enough of a cash buffer. His plan is to continue working remotely after Remote Year is over and living a full on digital nomad lifestyle. You'll love that story. We also chat about... Eric's background What Remote Year is like How he's planning on making an income A day in the life of a digital nomad Enjoy this chat with Eric, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Eric's blog: Nomad on FIRE Eric on Twitter and Instagram Reddit thread /buildapc New Egg ChooseFI Facebook Group Remote Year Episode: The DIY approach to building skills, becoming a millionaire, and finding your passion | Grant Sabatier of Millennial Money NomadList Mr Free at 33 The Earth Awaits NomadSummit 2020 No More Harvard Debt Episode: A New Travel Hack: Mystery Shopping | Financial Roadways Key takeaways from our chat with Eric 1 - Remote Year is a good way to transition into the digital nomad lifestyle Remote Year is a work travel program that offers accommodation and co-working passes to a group of people who live a digital nomad lifestyle together. Although a little on the pricier side, Eric argues this is a great way to try the digital nomad life along with a community. He gets to meet a lot of interesting people from diverse backgrounds and several different skills, all while travelling and working on his side hustles. 2 - Geoarbitrage as a strategy Eric is using geoarbitrage to make his money last longer - by earning in a strong currency and spending in a weaker currency in cheaper locations. Him and his girlfriend get to save more money and travel more. He also uses travel rewards, and recently started a blog to document his journey and make some extra money. 3 - How Eric saved up $30k to travel abroad Eric was working a high paying job but lacked work life balance. He was always a decent saver and made sure to max out his tax advantaged accounts and avoid lifestyle inflation. He treated his saving as a game, and made it a challenge at the end of every month to find ways to cut back and save more. The most important: finding what your why is. That's his plan for the year ahead. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Mystery shopping might be the new travel rewards hack. Johnny uses travel rewards and mystery shopping to go on holiday for free. Him and his wife are using rental properties to fast track their path to FI, with Johnny's goal is to be able to take summers off by the age of 35. You'll love that story. We also chat about... How to make the most of travel rewards Where to get travel reward information The value of mystery shopping Enjoy this chat with Johnny, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Johnny's blog: Financial Roadways Johnny on Twitter Jobspotter app Frequent Travel University Episode: Rethink the Rat Race Key takeaways from our chat with Johnny 1 - Mystery shopping is just as valuable Mystery shopping involves using a service for free and filling in a survey/review in return. This is usually done with restaurants, holidays and hotels. Johnny provides quality reports and literally gets paid to go on holiday or to eat a delicious meal at a restaurant. A new travel hacking technique? 2 - Travel rewards and minimum spending The problem with many travel reward credit cards is that the minimum spend is pretty high, and that can put off some people, especially since you can't pay bills with a credit card. Johnny and his family use a third party software that allows you to pay bills from your credit card, and if you don't meet the minimum spend that month, you can prepay the bills or use a gift card. This is what allows him, his family and his in-laws to go on holiday to Jamaica at a resort, all for free. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

One of the best ways to increase your income is to do a career transition Caitlyn changed from sales in the beer industry to working as a software engineer. After an intense 6 months completing a coding bootcamp, she was able to find a higher paying job as a software engineer with a better work life balance and pretty much everything she was looking for in a job. You'll love that story. We also chat about... Caitlyn's early career How she completed the coding bootcamp How she got her job as a software engineer Managing coding interviews How not to screw up your career transition Enjoy this chat with Caitlyn, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Caitlyn on Twitter Hackerank Key takeaways from our chat with Caitlyn 1 - The first step to a career switch Caitlyn was working in the beer industry in sales, but wanted to work in tech. Her first step was researching bootcamps online and picking a bootcamp with good reviews and that wasn't too expensive. She completed her bootcamp online since she didn't have the patience or time to go back to school, and didn't get into debt to pay for the course. 2 - How she found a job immediately after finishing the bootcamp Her bootcamp was 6 months long. She started networking for jobs at the 4 month mark, and says this is what allowed her to find a job at the perfect timing. During her job search she researched different companies, did many interviews and used the skills she acquired working in sales to set her apart from other candidates. The personal connection she got from networking meant she was more likely to be considered for a job position. 3 - Are bootcamps worth it? Caitlyn believes bootcamps are a great option. They cost a fraction of what a college degree costs, allow you to work remotely and provide you with many more opportunities. Caitlyn used Twitter to connect with other tech people and commit herself to the challenge of learning how to code - she made a lot of friends and it helped her transition career. It's important to network as well as complete the bootcamp - if that's what you do, then a coding bootcamp is very much worth it. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Is property part of your portfolio in order to reach FI? Maria and her husband own 9 rental properties, and have a net worth of over a million. They're aiming for a net worth of $3 million in order to reach FI, and have some pretty nifty real estate hacks to share with us. You'll love that story. We also chat about... Maria's personal finance journey Canada's maternity leave Dealing with tenants Future FI goals Enjoy this chat with Maria, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Handful of Thoughts Maria on Instagram FI after 50 Camp Mustache Key takeaways from our chat with Maria 1 - Canada's maternity leave is pretty sweet In Canada, maternity leave can be 12 months or 18 months. Maria and her husband used up their maternity and were able to split it between the two quite evenly. This allows Maria as well as her husband to go back to work fully rested and with the right energy. Julie mentions she's able to get 8 month maternity leave. 2 - How they're investing in real estate to reach FI Maria works as a teacher, and along with her husband they own 9 rental properties with a total net worth of $1.3 million. The first $1 million took them 8 years, and they're planning on the next one to take 5 years. They already have a pretty flexible lifestyle and plan in the future to homeschool their kids. 3 - A few tenant hacks As a landlady, Maria has had to deal with a few difficult cases - she had to take one tenant to court because of the state in which they left the flat when they moved out. But she was still able to get her money back thanks to one good hack: asking for an emergency contact before the tenant moves in. The mother of the tenant was then able to represent the tenant in court. Other hacks include trusting your gut, and sending a birthday card on the tenant's birthday. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Do you include your house and car in your overall net worth? Rachel and her family are aiming for a FIRE number of $2 million. Her and her husband focus on a high savings rate, prioritising their budget and building a side income to speed up their journey. You'll love that story. We also chat about... Budgeting categories How they manage big expenses Their total net worth How Rachel is participating in GCV's blogging and Etsy course Enjoy this chat with Rachel, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Money Hacking Mama Rachel on Instagram Gold City Ventures Article: The Shockingly Simple Math to Early Retirement Net Worthify Calculator Redfin YNAB Key takeaways from our chat with Rachel 1 - How Rachel keeps a high savings rate Rachel uses YNAB to do all her budgeting, keep track of her net worth and manage all her expenses. She looks at the big picture of her yearly expenses and compares it to her income. From there she can easily prioritise her values, and figure out what she needs to cut down to keep a high savings rate. This means she's more careful when buying gifts at Christmas, for example. 2 - Why her house and car are not part of her net worth Her household's net worth is currently $650k, and her and her husband are aiming for $2 million. This does not include their house and car since she says that those two, although assets, won't pay them any money. Having said this, both assets will be paid off by the time they're retired. 3 - Her experience with blogging and Etsy Rachel joined Gold City Ventures because she always wanted to manage a blog and make some side income online. She knew she needed someone to help her with the technical side, and the course has helped her through every milestone. The community is very powerful and this keeps her posting regularly. She's also started with Etsy and has completed over 60 sales! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Do you dream of retiring before your 40s? Amon and Christina retired at age 39 and moved to Portugal with their two daughters. Thanks to their government jobs, they were able to achieve a very high savings rate of 70% and build a nest egg of 25 times their annual expenses in just 8 years. They've now been retired for 3 months and enjoy their time relaxing and spending more time with their girls. You'll love that story. We also chat about... How they got started on their journey Their FIRE numbers Why they got government jobs Their asset allocation Dealing with health insurance abroad Enjoy this chat with Amon and Christina, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: Our Rich Journey Our Rich Journey on Youtube and Instagram Video: Top 5 Companies Always Hiring Key takeaways from our chat with Amon and Christina 1 - The journey starts with the right mindset Christina and Amon explain that the FIRE movement is a unique world where many people outside believe that reaching FI is not possible. But they argue that it is possible if you have the right mindset and keep a positive attitude. Their journey started by working on their mindset, and then they started saving money, investing in real estate and educating themselves about money management. 2 - How they were able to save 70% of their income They attribute their high savings rate to having government jobs that paid for all their living expenses abroad. They worked in Japan and in Spain, and were able to live for 10 years mortgage and rent free. They also saved on insurance and transportation, and would travel for free with credit card hacks. They had the purpose of FI and kept putting that money into the stock market to be able to retire early. The good news: there are a lot of opportunities to work with the federal government and it's not hard to get a job with them overseas. 3 - Their lifestyle in Portugal The couple describe their life as an extended European dream. Their days are extremely flexible and they have a 'semi-structured' life with their girls going to school everyday. They're in Portugal on a retirement visa and have decided to focus on building their children and spending as much as time as they can with them. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

In what way would a medical disability change the way you approach financial independence? Zero has had to deal with brain surgery and has had rheumatoid arthritis for a few years. It affects her work situation, her financial situation and her physical health, so she's had to adapt her path to FI with side hustles, passive income and insurance. You'll love that story. We also chat about... Her medical history Why she's prioritizing her body Her current financial situation How she quit her job to pursue her side hustles Getting married Enjoy this chat with Zero, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Zero's blog: Walking to FIRE Zero on Twitter and Facebook Interview: One American Woman’s Story About Disability and the Path to Financial Independence Key takeaways from our chat with Zero 1 - The importance of prioritizing quality of life The truth is no one knows how long they will be able to work for, and many times we take for granted being healthy. Zero is very aware that she can't just push through and work more hours to reach FI sooner, she needs to prioritize her health now so she can still be healthy in the future. This means she's moving to the suburbs, slowing life down and working from home so she can focus on having a healthy lifestyle. 2 - $100k is a good stability point Zero was very excited to hit the $100k net worth mark, but after $100k she noticed that the numbers increasing did not fulfill her as much. She used to blame lack of money for all her problems, but now she realises that money doesn't solve everything and instead it has to be her that takes control of her journey and situation. 3 - The power of passive income Zero is aiming for $3,000 in passive income per month, and she's at $1,200 at the moment. She sells video courses, e-books and has some affiliate income that gives her a regular salary. This gives her the headspace to focus on active income, on her health and on her personal FI journey. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Have you ever thought of turning your own community into a 6 figure side hustle? Melissa started a local community Facebook group to help locals find out what's going on in town, recommend businesses to each other and work on initiatives together. This community group now provides her with a full time income and the flexibility to work when and where she wants. You'll love that story. We also chat about... How to monetize a Facebook group What to charge and to whom The emotional side of being a group admin The pros and cons of managing a community How to stay on top of content Enjoy this chat with Melissa, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Grouptize Grouptize Review Grouptize Community Facebook Group Get your BONUS by contacting me here Key takeaways from our chat with Melissa 1 - A Facebook town group is essential for every community Melissa believes every community should have a Facebook group with business recommendations, town information and events. She started her group 6 months before being laid off, and quickly realized she could turn this into a full time income. The group is linked to a website, has a daily e-newsletter and a business directory. The biggest bonus? Everyone in this group is a pre-targeted and interactive audience, a perfect location for businesses to advertise. 2 - How Melissa monetizes her group Melissa started by offering listings for free, if a business is then interested in upgrading their listing, they can do so for an annual fee. She also has traditional web ads and sponsored stories. Her ad customers range from anything local, to people with side gigs, to realtors and anyone looking to help out. A sponsored story pays her $250, and with 20 stories a week, it's easy to see how this can quickly grow into a full time business. 3 - How you can get started too Melissa had little Wordpress experience - she says that if you can navigate Google, you can set up a community Facebook group too. She recommends hiring help to manage the admin, and to have the right processes in place. Not all groups have to be local - pet and mom groups can be very successful too. If there already are Facebook groups in your area, assess them and see if you can add a bit more value. It does take time to build a community, but if you keep adding content and providing value, it can quickly blossom. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

What are 10 things you would want your child to know about money? Chelsea quit her job as a hedge fund manager 2 years ago and decided to pursue entrepreneurship to stay at home with the kids and take care of herself. She's working on building a blogging income and is the organizer behind the Mama Talk Money Summit next week. You'll love that story. We also chat about... Entrepreneurship and work life balance How she's adjusted her spending habits Managing maternity leave The Mama Talk Money Summit Enjoy this chat with Chelsea, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Chelsea's blog: Smart Money Mamas Mama Talk Money Summit Pass Mama Talk Money Summit Schedule Mama Talk Money Summit Quiz Montana Money Adventures Rich and Regular Chelsea on Instagram Key takeaways from our chat with Chelsea 1 - Managing entrepreneurship after corporate America Chelsea left her job 2 weeks before having her second child, so she could stay at home with her family and not feel stressed from work. She started working on her blogging income and other projects, building a financial independence lifestyle that would be sustainable for her and her family. Since then she's realised the importance of finding a balance between mental health and happiness, and that ideally you want to be pursuing FI as well as finding a career you love. 2 - The importance of self-care during maternity leave After having her second baby, Chelsea was not able to completely shut off, since she was just getting started with entrepreneurship. She believes it's important for new mothers to be able to completely turn off and focus on their babies. Self-care is important also because there is a lot of stigma around giving birth, and friends and family can be quick to offer their own opinions on how to raise a kid. For mothers, it's easy to feel that they're doing something wrong, so it's important to find time for themselves. 3 - The Mama Talk Money Summit This online summit will be taking place next week from the 21st to the 24th of October. 40 female speakers will be conducting sessions about all topics on motherhood and money. There will also be big giveaways, coaching, courses and a pajama party on the last day. The summit is free to attend, with an add on of notes, q&a sessions and transcripts when buying the All Access pass. A ton of free financial information on many different topics - a must attend event! Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Everyone's dream is to earn a healthy passive income every month. Jennifer and her husband earn 6 figures every year in passive income from their real estate business. The interesting part? They follow a slightly different business model and strategy. They also spend most of their time travelling around the world with their 4 year old child. You'll love that story. We also chat about... How Jennifer got started with real estate Her property criteria How to travel with a 4 year old The pros and cons of renting out to disabled tenants Her business helping out other investors Enjoy this chat with Jennifer, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Jennifer's websites: Addicted to ROI and Agents Invest Jennifer on Instagram DHCS Key takeaways from our chat with Jennifer 1 - Getting started with real estate Jennifer bought her first house at the age of 21 - she dropped out of college to work for a real estate company and immediately fell in love with the real estate world. Her husband worked in construction, and together they started buying houses, bit by bit. They would buy one house, live there for a year and then buy a second house. They kept switching and used the BRRR strategy (Buy, Rehab, Rent, Refinance) to get the majority of their investment back. They've bought properties mostly in Seattle, but in other states as well. 2 - Renting out to disabled tenants What makes Jennifer's real estate strategy different is that she and her husband rent out to disabled tenants. They interact solely with a healthcare provider that helps disabled people find homes and provides them with healthcare assistants. The pros? Jennifer and her husband enjoy 35% more cashflow, no turnover and 100% occupancy at all times. The only cons are that they need to keep re educating new staff and there is usually more wear and tear on the houses. But overall, a creative and sound real estate investing strategy! 3 - How she created her ideal lifestyle Since building a 6 figure passive income stream, Jennifer has found a new passion: helping other people build passive income streams. The real estate investing world can get lonely, and by helping others she's able to make friends, help others and build a network as well. Nowadays, she works purely on her real estate network and organises meetups - the rest of the time she and her family and travelling the world and enjoying their passive income. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.

Imagine travelling the world and only paying for the flights. Diana Chen is a full time travel blogger. Thanks to her blog she gets to try out hotels, resorts and adventure packages for free in exchange for a review or social media posts. She also makes money blogging and recently released a course to learn how to pitch to companies. You'll love that story. We also chat about... Diana's journey as a travel blogger Her different travel adventures How she makes money online How to get started as a travel blogger Her future travel plans Enjoy this chat with Diana, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Blog: MVMT Blog Episode Travel On a Budget and Entrepreneurship with MVMT Blog Article: Hacking My Engagement Ring with Moissanite Course: Travel Pitch Masters (50% off using code 'firedrill') MVMT Blog on Facebook and Twitter MVMT Blog Facebook Group Gold City Ventures Blogging for Profit course Key takeaways from our chat with Diana Chen 1 - How Diana makes money with her travel blog Diana makes money in a variety of different ways. With certain companies, she gets offered free trips in exchange for reviews or a feature. With others, she has her own rates and packages she offers in exchange for payment compensation. She also hosts ads on her blog and does affiliate marketing. Usually she pays for her own flights, and then reaches out to hotels that fit her blog and readers interest. From there she finds hotels to host her and enjoys gets free accommodation! 2 - How to make money when starting out Diana got her first free hotel comp 3 months into blogging. She believes that you can make money as a beginning blogger, even when you don't have much of a portfolio. Diana explains that it's more about how you tell your story and how you paint your brand, rather than the numbers. Tell brands your plan for the future and how you plan to be the go-to source for your city or country. Start with writing reviews for hotels and use this as a starting story/portfolio. 3 - The value of blogging courses Both Diana and Julie agree that blogging courses help kickstart blogging growth because of all the new information you learn. Although blogging courses get a bad rep, if you pay for a course, you get results much faster. A blogging course is similar to a course at university - Diana's job is blogging, and she took courses to understand more about affiliate marketing and other money making skills. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.