ChooseFI | Financial Independence Podcast10 Sep 2017

040 | Take A Gap Year | Money Metagame

A couple in their twenties grew their savings rate from 6% to 58% in just a few years — then decided to quit their jobs and travel for a year. Noah and Becky share how they went from conventional financial practices to leveraging scholarships, travel rewards, and FI strategies to fund their gap year adventure. Noah, a moderator in the ChooseFI Facebook group and creator of Money Metagame, initially struggled to convince Becky that financial independence was achievable. But once she saw the numbers, everything changed. Their story reveals how both earned free college educations through the Evans Scholarship as golf caddies, mastered travel rewards to eliminate accommodation costs, and built enough financial runway to take a year off. They discuss their decision-making process, addressing common fears about career gaps, and the mindset shift required to realize that the worst-case scenario is simply returning to their previous jobs. Noah and Becky's Financial Journey [00:02:11] Both benefited from the Evans Scholarship, which covered their college education in exchange for caddying and maintaining good grades. This unconventional path to a debt-free degree gave them a head start on building wealth. Transitioning to Financial Independence [00:19:10] The couple dramatically increased their savings rate by adopting FI principles. Noah introduced Becky to travel rewards strategies and financial independence concepts, though initial skepticism required seeing real numbers before she fully bought in. Planning for the Gap Year [00:21:11] They outline their approach to taking a year off, including decisions about keeping or renting their home, managing healthcare, and maintaining income flexibility. Their planning demonstrates that a gap year doesn't require reaching full FI — just enough runway and a backup plan. Travel Rewards Strategies [00:43:59] Noah explains how they leverage hotel promotions and credit card benefits to dramatically reduce travel costs. By strategically maximizing points programs, they've positioned themselves to travel extensively without draining savings. The Hot Seat [00:47:35] Quick-fire questions reveal their favorite resources (Doctor of Credit has "saved us a fortune"), biggest financial mistakes, and advice for others considering a similar path. "Getting sponsored by your caddying club is essential." [00:12:29] "The worst case scenario is simply returning to routine jobs." [00:40:34] "Maximizing hotel promotions is key for us!" [00:33:15] "Following Doctor of Credit has saved us a fortune!" [00:48:37] Resources: MoneyMetagame.com - Noah's blog about finance and travel rewards [01:00:10] Doctor of Credit - Resource for maximizing credit cards and points [00:48:17] Go Curry Cracker - Travel and finance insights [00:50:11]

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(680)

607 | Other Mountains I Want to Climb | Diania Merriam

Reaching financial independence is supposed to be the goal—but what if you get there and realize the real skill isn't earning or saving, but learning to spend? And what if the metric for business succ...

13 Jul 1h 21min

606 | Deep Dive: Target-Date Retirement and Bond Funds | Cody Garrett

Most investors think they're buying the same thing when they choose a target date fund—but two people who bought 2025 target date funds 15 years ago could have 40% different returns today. Same target...

6 Jul 1h 8min

605 | Retire in Less Than 10 Years

At 21, Cody Berman appeared on ChooseFI as a college student discovering financial independence. Three years later, he retired at 26. Now 30 with a $5 million net worth, he's back to reveal exactly ho...

29 Jun 1h 7min

604 | Getting Personal With Personal Finance: Bill Yount

Bill Yount reached financial independence at 60—then froze. His financial advisor confirmed 100% security, yet instead of relief, he felt disoriented fog. The emergency medicine physician who transfor...

22 Jun 1h

603 | Crash Proof: The Science Of Stock Market Resilience | Brian Feroldi

The stock market crashes about once every three years—at least a 20% drop. Most investors panic and sell. But if you understood why markets always recover, you'd do the opposite. Brian Feroldi reveals...

15 Jun 51min

602 | FI 201 Beyond FI Basics: Asset Allocation & Market Psychology Mastery

Most investors lose to the market because they're trying to pick winners in a game where only 4% of stocks have created 100% of market wealth over the past century. The math isn't in your favor—but th...

8 Jun 1h 1min

601 | Travel Rewards 101 | Devon Gimbel from Point Me to First Class

Devon Gimbel just booked over $250,000 in travel last year using credit card points—but she's the first to tell you award travel isn't "free." It's a strategy for 10x-ing your existing travel budget b...

1 Jun 1h 17min

600 | FI 101: Teaching Financial Independence to Your Community

A dead local meetup group attracted just 5 people to its first gathering at a brewery. Two years later, that same group draws 70+ attendees to structured educational sessions, with newcomers driving a...

25 Mai 1h 13min