Today on the FI Garage The Mechanic and The Accountant have a beer and get to speak with Phia, author of Freedom101 Blog. We have a few beers and discuss how Phia and her husband Mike reached FIRE and why she prefers to call it Financial Freedom rather than Financial Independence.

What we are Drinking (1:45)

• The Muse & The Golden Promise – Cannery Brewing
• Merlot Cab Franc Farmhouse – Origin Wines

The Interview

• Financial Freedom rather than Financial Independence (5:30)
• Living the life you want now (9:45)
• Focusing on what’s next (11:07)
• Quitting won’t solve all your problems, consider experimenting with not working before you quit for good (12:00)
• Saving extra money each year even once in FI and over saving for FI (14:15)
• Other forms of passive income (17:10)
• The paradox of FIRE (22:20)
• Driving a Tesla (26:50)
• The anti-routine, lawn bowling and getting rejected for seniors bridge club (31:00)
• Favorite Office Episode (32:30)
• The most overrated part of FIRE (36:05)

Five Steps to Financial Freedom

• STEP 1: HOW DO YOU MEASURE YOUR WEALTH?
• STEP 2: HOW 1+1=3
• STEP 3: GOAL SETTING
• STEP 4: LIVE BELOW YOUR MEANS – WAAAAY BELOW
• STEP 5: THE SIDE HUSTLE