Choosefi | Financial Independence Podcast For The Stealth Wealth Community

Brad has been taking part in a mastermind group and teaching its members about financial independence. While they understood the "Why of FI", how to get started wasn't as clear. The Back to Basics series of episodes covers just that, how to get started on the path to FI. The journey to financial independence is not about deprivation. It is about a life of personal choice and abundance. Its starts with understanding your "why" and then setting goals for the next 5, 10, or 15 years. There's a difference between the money you need to pay bills and meet basic needs and discretionary spending. Understanding how much your lifestyle costs is the first step. It can be psychologically difficult to do this first step. It may reveal mistakes, but it's important to be honest with yourself and not beat yourself up over them. We all make mistakes. After knowing what your life costs, what comes next? To calculate your FI number based on your current lifestyle, multiply your monthly expenses by 12 to get your annual expense