‌

Episode description

‌

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

The Mindful FIRE Podcast

Jun 21, 2022•42 min•Ep 69•Transcript available on Metacast

--:--

Listen in podcast apps:

Episode description

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 (StealthyFIRE@outlook.com

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 StealthyFIRE@outlook.com