69 : Money Moves to Accelerate the Path to Financial Independence with FIREy Philanthropist - Part 2

Welcome to the Mindful FIRE Podcast, where we explore living mindfully on the path to financial independence and beyond.

On today's episode, we’re diving into Part 2 of my conversation with FIREy Philanthropist, our first anonymous guest. FIREy Philanthropist wanted to remain anonymous because they practice stealth wealth, which means they don't tell their neighbors, friends, and really anyone outside of a close group of friends that they're rich and have retired early.

Today, in Part 2, FIREy and I discuss some of the specific money and finance strategies he took to speed up his path to financial independence retire early (FIRE). Below are a list of articles that FIREy shared, which go into the concepts in more detail. Make sure to do your own research and consult financial professionals you work with.

In Part 1, we learned about FIREy Philanthropist’s journey to reaching Financial Independence (FI) and retiring in his early forties from a career in tech. We hear the mindsets that helped him get there and what he’s been up to in the world of philanthropy since retiring.

In today's conversation we discuss:

• The money moves FIREy Philanthropist used to speed his path to FIRE
• The mega backdoor Roth explained
• FIREy’s thoughts on holding the stock given to you by your company
• Why was designing your home important to you and how did you make that happen?
• Donor Advised Fund (DAF) as a powerful tool for philanthropy that saves taxes
• Potential tax advantages to of donating money to a non profit using a DAF
• Interesting ways to minimize capital gains
• What piece of advice would he would give to somebody early on their path to financial independence
• What piece of advice would you give to someone getting started with meditation or mindfulness
• How you can contact FIREy with your questions on FIRE ([email protected]

I really enjoyed this conversation with fiery philanthropists and I learned so much about the ins and outs of financial independence, how to know when you're at the point where it's okay to retire early and to feel confident in that decision.

Connect with FIREy Philanthropist

• Email questions to [email protected]

More from The Mindful FIRE Podcast

PS: Introducing the…

🔥 FIRE Starter Group Coaching Program

Connect with your big vision for the next chapter of your life and start living it in 10 weeks or less using envisioning and the power of your mind.

Interested? Let's chat.​

🔥 WHO I'm creating this for:

I'm creating this for YOU if you are feeling stuck & frustrated after saving and investing for years to create "financial freedom" only to find yourself:

1. Unclear or unsure about what you want
2. Overwhelmed by all the options created by financial freedom
3. Not sure how to move forward to start living the next chapter of your life

🔥 WHAT we’ll do together over 10 weeks:

In this small group coaching program, you will:

1. Finally answer “What do I actually want?”
2. Come up with a BIG vision for your next chapter of life
3. Learn what envisioning is and the brain science that makes it work
4. Be challenged and inspired by thoughtful participants creating their own BIG vision
5. Learn how to use your mind to start living your new vision right away.

🔥 My promise to you:

At the end of 8 weeks, you will be able to point to specific and tangible ways that you’re living out your new vision already.

🔥 Sound interes...