Today on the FI Garage The Economist and The Accountant have a beer with Shane Dillon, author of The Franklin FI. He managed to get himself up at 3:00 am from Malaga, Spain so he could have a beer with us and tell us about his new book.
What we’re Drinking
Shane – Alhambra Reserva 1925 [1:10]
The Accountant & The Economist – Axe & Barrel’s Langford Lager [2:27]
You had art exhibited in the louvre? [3:06]
Was Photography Leisure or Side Project? [4:20]
Where do you currently live? [4:54]
What is your cost of living like? [5:50]
- One month of rent in Malaga= 10 months of rent in San Francisco
What was your inspiration for FIRE? [6:40]
- Treating life like a Human Corporation
- Tracking Profit and Loss, Savings rate, etc.
You took some time off for travel? [8:10 and 10:08]
- Wasn’t happy at work
- Backpacked across South America
What is your favorite investment vehicle? [9:10]
- Start investing with a little
- Index Funds are hard to beat
You had a second career? [11:20]
The travel bug bit you again [12:40]
- Biked across the USA – learned what you need to be happy when carrying 2 bags for 4 months
- Moved to Europe
When did you start on The Franklin FI? [14:15]
- Going to write 3 pages per day and end the summer with a novel.
- Breaking large goals down into simple tasks.
- Feel fulfilled after achieving simple goals.
- Finished first novel in first 60 days.
- 2 novels finished and plan to write 3rd this summer.
Tell us more about the actual book?
- The Franklin Fi: A Personal Finance Adventure for Next Generation Investors
- Is the idea you presented in the book for how a young person might get their first job with an ideal career path resume based on your own experience? [18:32]
- Tell us a little more about the characters, especially Sam Smooth and his similarity to Denny Crane? [21:03]
- Why did you want to write a book for young adults? [22:05]
- Average college student graduates with $40,000 in debt and it takes 21 years to pay off.
- 70% of Americans are living pay cheque to pay cheque.
- 80% of Americans die with some kind of debt.
Any parting thoughts for our audiance? [27:17]