#75: Financial Samurai and bestselling author, Sam Dogen, joins Chris to discuss ways to maximize wealth-building and live life on your own terms. They cover Sam’s 70/30 rule for decision making, how Sam engineered his own layoff and the principles you can use to do it yourself, how real estate can be a significant source of passive income, and why we should all consider having our own online real estate, small business, or side hustle.
Sam Dogen (@financialsamura) engineered his own layoff after working for 13 years in corporate america and created Financial Samarai, one of the largest independently-owned personal finance sites in the world. His Wall Street Journal bestselling book is Buy This, Not That: How to Spend Your Way to Wealth and Freedom.
Full show notes at: https://allthehacks.com/financial-samurai-sam-dogen
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Resources Mentioned
Connect with Sam Dogen: Financial Samurai | Twitter
Sam Dogen’s Books:
Buy This, Not That: How to Spend Your Way to Wealth and Freedom
How To Engineer Your Layoff
Resources Mentioned:
Pacaso
Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts
Podcasts Mentioned:
All the Hacks #19: Becoming a Better Investor with Andy Rachleff
Travel Recommendations:
Malaysia
Kuala Lumpur
National Palace
Batu Caves
Pulaus
Penang
Redang Island
The Taaras Beach & Spa Resort
Angkor Wat, Cambodia
Southeast Asia
Majorca, Spain
Amsterdam
Full Show Notes
(1:43) The Point of Financial Optimizations: Why Money Isn't the End Goal
(3:30) Engineering a Layoff and Choosing an Alternate Career Path
(5:53) Negotiating Severance Pay and Differentiating Between the WARN Act and Severance
(12:36) Sam Shares the Core Principle He’s Held Since Middle School
(14:19) Thinking in Probabilities and Not Absolutes: Sam’s 70/30 Rule
(20:15) Earning Passive Income with Real Estate in Your Portfolio
(26:59) Choosing an Adjustable-Rate Mortgage for Sensible Reasons
(33:04) Strategies for Successful Vacation Property Purchases and Lessons in Income Forecasting
(36:34) Establishing Your Presence Online in Real Estate
(38:27) Venture Capital Demystified: Understanding VC and How It Works
(45:12) Personal, Financial, and Tax Benefits of Running a Business
(48:24) Selecting a Retirement Plan and Health Insurance as a Business Owner
(52:21) Navigating Finances When Including a Partner in Your Business
(54:33) Reasons for Residing in High-Income Tax Areas
(57:58) Sam's Travel Recommendations
(59:35) Exploring Malaysia: What to See and Do
(1:01:13) Chris's ATM Misadventure During His Backpacking Trip in Malaysia
(1:02:48) Contributing to Your Child’s 529 College Savings Plan
(1:05:05) Choosing Between Public and Private Education Routes
(1:07:43) Where to Find Sam Dogen Online
Connect with All the Hacks
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Chris Hutchins: Twitter | Instagram | Website | LinkedIn
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Building Wealth, Engineering a Layoff and Living Life on Your Own Terms with the Financial Samurai | All the Hacks with Chris Hutchins podcast - Listen or read transcript on Metacast
