How do you convince your spouse to join you on the path to Financial Independence?
Mr. and Mrs. Waffles on Wednesday (the WoW’s) had to navigate just that sticky situation. He found FI first and had to find some way to convince his other half to join in on the craziness. We talk strategy, what worked for them and what didn’t, what they’re doing now, what they plan to do in the future and lots more!
They are one of our favorite couples in the FI world. After you listen to the episode, they’ll be one of your favorites too!
We also chat about…
- traveling the world
- taking chances
- benefits of riding your bike to work
Thanks goes to the WoW’s for joining us on the podcast!
Enjoy this chat with Mr. and Mrs. WoW and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- Their AWESOME website (seriously, super awesome)
- How to build your own expense tracker
- Tweet atcha fav WoW couple
- Crossroads of Should and Must
Key takeaways from our chat with Mr. and Mrs. WoW
1 – Getting your spouse on board is KEY
Find out how they’d benefit and use the extra time in Financial Independence, and use that information to convert them.
Sending Mrs. WoW FI blog articles for a year didn’t work for Mr. WoW. When he thought about who she was as a person, what she valued, and what was fun; and used that as a way to hook her, he saw results very quickly.
For some, financial stability for life is the key factor. For others, it may be having both parents home all day may be the reason to work towards FI.
2 – Don’t ask what could go wrong – ask what could go right?
Too often people focus on the negative potentials of a situation. Instead of asking yourself what terrible things could happen if things go wrong, try asking yourself, what could go right? Would you make a bunch of money? Would you get to set your own flexible schedule? Would you get to create beautiful works of art?
3 – What are you going to do after quitting your job?
Mrs. WoW loves making an impact on communities with her current profession and has no plans to quit any time soon. But, instead of making an impact at home in the US, she feels most fulfilled helping disadvantaged communities in need around the world.
Mr. WoW loves bacon and beer, and wants to open a brewery where they serve bacon and beer flights.
Different strokes for different folks! It just goes to show there’s no need to have the same plans as a couple after quitting, but you should make sure the plans are compatible with each other.
4 – Is Real Estate Investing Right For You?
The WoW’s are not about Real Estate Investment life. Realistically, no one can blame them. House prices in their HCOL area are insane and don’t make anywhere near good investments.
J has one rental property out of state and is looking for more.
Gwen has one rental property currently and is in the process of buying more.
Real estate isn’t for everyone. Think carefully and do your homework before you invest. If the math works out, a LOT of money can be made. If it doesn’t…… well….. let’s just say it won’t be good!
Questions? Like or dislike? Leave us a comment!
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