What’s Up Next Podcast Episode 2
What’s Up Next?
Paul Thompson and I are proud to release our second episode of the The What’s Up Next Podcast. This podcast is an exploration of financial independence and taking the conversation to the next level. The show features panel discussions with top influencers in the financial independence space. Guests weigh in on questions that don’t have clear answers to refine your path to FI.
Episode 2
Does income matter? Today we discuss the role of income in the path to financial independence with Peerless Money Mentor, Passive Income MD, She Picks Up Pennies, and Reaching For FI. These panelists are great examples of both high and low wage earners living in high and low cost of living areas. We discuss the importance of the gap as well as many other great topics.
Also, listen to the very end for a short but satisfying blooper reel!
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Great episode, I love that you had a doctor mixed in with the others!
Yah. I wanted some variation.
Great podcast. I recently did a study of who can even likely qualify for reaching FI. It turns out after eliminating all the people who don’t work about 25% have a shot. My analysis showed by saving 15% on a take home of $36,666 you can fund a Roth to $5500 leaving $31,166 or about $2600 a month to live on. 40 years of $5500 in a Roth is just under 1M. If you have a spouse of similar earning ability 40 years of 2 Roths gives you about 2 M, or 1M total in 20 years. Your guests are heroic in their endeavor and will undoubtedly be successful, but it certainly is a daunting row to hoe.
Thanks for listening. We wanted to touch on a more relatable topic. It’s not easy on a low income but not impossible.