Imagine saving over $80,000 last year?
Our guest today, Jamila from Journey to Launch, did just that. She started listening to podcasts on her LONNGG commute and found the Mad Fientist. She immediately set a 10-year time frame for financial independence. She is now pursuing her passion for financial education through her podcast and blog, Journey to Launch.
This podcast episode will give you major motivation..
We also chat about…
- What ‘Barista’ or ‘Coast’ FI can mean for you
- Does it feel weird to rely on a partner’s income?
- Coming clean to your coworkers about FI (nope)
- Giving 110% to your business
She was an absolute delight to speak with!
Enjoy this chat with Jamila from Journey to Launch and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- Journey to Launch – Jamila’s blog
- Her Podcast – Gwen & J were on episode 23!
- Bobby’s Ep#11 & Travis’s Ep#12 – (2 back-to-back episodes on FIRE drill about quitting jobs)
- No More Harvard Debt
- Half Banked
- Mad Fientist
- Mr Money Mustache
- Guide to Start Your Own Blog
Key takeaways from our chat with Jamila from Journey to Launch
1 – Give your spouse time to get on board
Jamila had some deep conversations with her husband about financial independence to get him on board.
He wasn’t as excited about it as she was up front..but he’s on board now.
She recommends showing your spouse the lifestyle that FI can give you, to ease any fears.
J seconds this approach. It took her husband a few years to get on board but she started bringing him to personal finance events.
The personal connections he made at events have helped a lot.
2 – If you have access to a 457 AND a 403(b) take it!
Jamila’s husband is a teacher and he has access to a 457 and a 403(b).
These are both tax advantaged retirement accounts.
Jamila and her husband put an additional $18,500 towards retirement now.
Justin from Root of Good actually used this tip to get to FIRE faster.
3 – There are ways to save on childcare
Jamila’s house has a basement apartment with a separate entrance.
Her aunt moved in and now provides childcare for her two children (with a third on the way!) =)
She supplements with what they pay her Aunt for childcare with the rent.
Jamila also found it cheaper to send her 3-year old to Catholic school versus daycare.
- Note: It’s called Jr Pre-K
- There are religious restrictions to the discount
4 – If entrepreneurship is in your heart, commit fully
Jamila would reach FIRE faster if she continued with her full-time job but she sees entrepreneurship in her future.
She knows she’ll regret it if she doesn’t give her business a fair chance.
For that reason, she doesn’t back down when opportunities to go public with her brand present itself, such as the recurring spot she snagged on a local news channel.
Jamila also wants to help spread this message and help as many people as possible improve their finances.
We’re excited to see where she’ll take Journey to Launch next year!