Manage episode 270891786 series 2514838
Chris Mamula used traditional retirement planning principles, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. He is also the primary author of the book Choose FI: Your Blueprint to Financial Independence.
Today we are talking about his story of attaining financial independence. We also get into the lessons he taught in his book and things you can do to prepare for early retirement.
[00:01 – 03:52] Opening Segment
- I talk briefly about great value that awaits you in this episode
- Let’s welcome our guest, Chris Mamula
- Chris talks about his background and how his journey began
[03:53 – 14:41] How Normal People Can Reach Financial Independence
- Chris walks us through the strategies he used to be able to retire early
- Spend Less. Earn more. Invest better
- Chris weighs in on people’s mindset about spending less money
- Chris talks about the drawbacks of pushing to be debt-free as soon as possible
- Chris talks about how he was able to increase his income
- Gives powerful advice about focusing on things where you can get a return on investment
- Chris shares what “Invest Better” means for him
- Quick Ad Break
[14:44 – 19:19] Avoiding Exiting Too Early
- Chris shares some tips to overcome your fear and not push the “sell button” too early on your investments
- Chris talks about diversifying their portfolio
[19:20 – 31:55] Early Retirement
- How do you know you are ready to retire?
- Chris gives his opinion about whether people can really handle early retirement
- Chris talks about his first time finding out about the FIRE movement (Financial Independence, Retire Early)
- Chris shares some of the things he learned from FIRE blogs
- Chris talks about the story behind their book
[31:56 – 38:18] Closing Segment
- Quick word from our sponsors
- What is the best investment you’ve ever made other than your education?
- Going out more and spend time with my family
- What is the worst investment you ever made?
- Investing in a variable annuity
- What is the most important lesson that you’ve learned in business and investing?
- Ask more questions
- Final words from Chris and me
“I think a lot of people are so focused on income and focused on how they are gonna go and get a college degree and they don’t look at what they’re spending on it. So, I would really focus a lot on acquiring skills but doing it in a way that makes sense. That you’re gonna get a return on your investment.” – Chris Mamula
“Ask more questions and continue to ask until you find the answer that makes sense.” – Chris Mamula
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