Nearly two years ago, I received an unique email at an address I rarely check anymore. The columnist wrote 😛 TAGEND
I am writing to you today because The Great Courses in partnership with Audible is exploring the possibility of creating a high-quality series on Financial Independence. We believe that you may be an excellent candidate to educate such a series. I’ve read countless sections at Get Rich Slowly and I’m always excited by your writing and how much excellent material you create.
At first, I belief this was spam. Before I deleted the letter, though, I checked the sender. Sure enough. The sender( and the theme) was legit.
I wrote back 😛 TAGEND
Thank you for reaching out. I get a lot of is asking for my hour and typically turn them down. Not this one. I feel like this is a splendid theme and well-worth exploring. I am a long-time fan of both Audible and the Great Courses. I’m not joking.
I included screen captivates to prove that I owned 72 Great Courses and practically 372 audiobooks from Audible. Those numerals have since grown, naturally.
Discussions ensued, a contract was caused, and in December 2019, I began the work of creating a five-hour, ten-part course on financial independence and early retirement. I finished that course last April. I recorded it in May. And last month, at long last, How to Achieve Financial Independence and Retire Early impelled its behavior into the world!
FIRE in 40,000 Terms
Writing a blog about financial independence and writing a course about financial independence are two different things. A blog is open-ended. It’s personal. It’s informal. But a project for Audible and The Great Courses? Well, that sort of project has constraints and requires a different tone.
You folks all know that I am on a personal-finance journey. You all know that I’m always learning about money, and that my a better understanding and beliefs tend to change with occasion. With this sort of project, though, I have to present myself as the panel of experts. The info I cater has to be self-contained in one neat little package.
In this case, I had some very specific parameters.
The course had to be approximately 40,000 statements in portion, and the whole had to be divided into ten smaller “chapters”. Why 40,000 texts? Because 40,000 words is approximately five hours when read aloud. Essentially, my assignment was to encapsulate the most important facets of financial independence in ten half-hour( 4000 -word) teaches. So, that’s what I did.
I too had to decide who the course was for. Was this make for kinfolks who previously knew about FIRE( financial independence and early retirement )? I’m not very good person to offer depth, technological opinion( as you well know ), so I decided against that. I decided to target kinfolks who were FI-curious: those who has heard about the concepts but needed a crash course in what FIRE entails.
In the end, I adopted the following outline 😛 TAGEND
Lecture one — What is financial independence? I start the course by discussing the difference between financial independence and early retirement. I too waste some time talking about how society has programmed most people to think about money in only one channel. But there are other ways to approach personal finance. Chide two — The power of purpose. Naturally, I then dive into my pet theme: procuring purpose. If you’ve speak GRS for any length of time, you know exactly what this lecturing contains. This is my core message. Castigate three — The power of revenue. With the philosophy out of the way, I explore the numbers behind financial independence and eaerly retirement. I talk about net worth, saving pace, and more. Lecture four — Spend less. The fourth lecturing explores moderation and the superpower of saving on the big stuff, such as housing and transportation. Teach five — Increase your income. After talking about spending, I talk about income. While most of the material in this course is new, this particular lecture stays closely to my usual speil about earning more.( But with more resources included .) Lecture six — Your wealth snowball. Once I’ve explained how the gap between earning and spending organizes a “profit”, I then share the best ways to make use of this advantage: a obligation snowball( if you’re in debt) and a affluence snowball( once your debt is gone ). Lecture seven — Investing for early retirement. The seventh chide was, far and away, the most difficult to write. How in the blaze do you compress all of investing into 4000 terms? It can’t be done — but I tried.( And then I send parties to read The Simple Path to Wealth by J.L. Collins haha .) Lecture eight — How much is enough? Next, I explore the factors that affect how much you need to save for retirement, including life expectancy, inflation, withdrawal frequencies, and more. Lecture nine — Barriers on the road to financial independence. I deplete the ninth teach addressing troubles that people encounter when they pursue financial independence — and offering possible solutions to those problems. Castigate ten — Building a rich life. Lastly, I explore what happens once you achieve financial independence and/ or early retirement. I recommend listeners to build a rich life.
As I said, I did my best to cover the core concepts of the FIRE movement. I made a deliberate decision to keep the course as non-technical as possible, which probably comes as no surprise. And, when possible, I explored the psychological and philosophical consequences of wealth.
Because of the limitations of this project, I couldn’t cover certain pet topics of the FIRE community: advance spoofing( which actually has zero to do with FIRE anyhow ), health care( “whats important” !), backdoor Roths, etcetera. Nor could I dive deep into any specific topic. There really wasn’t space.
In the end, though, I’m proud of the course I procreated. To my subconsciou — and I know I’m biased — this project is the best introduction to financial independence and early retirement available. I’m not joking.
If you want to share this concept with friends or kinfolk, I believe this course is a great way to do it.
An Intro to FIRE
The most difficult part of creating this course was recording it. Early last-place May — while uncertainty about COVID still raged — I wasted two days at a neighbourhood transcription studio, see my names aloud. It was tough!
I’m a chatty fellow, but I’ve never had to actually predict for hours on end. It’s more difficult than you might expect. By the end of the second day, I felt like my cavity was full of marbles. Plus, I upset and frets and worried that my transmission was terrible.( And, in the months since I recorded such courses, I’ve had second thoughts about two sentences that I miss including haha .)
So, my biggest fear was that parties would detest my “performance” of the stuff I’d written. Much to my surprise, that hasn’t been the case. In happening, my accomplishment is the highest-rated part of the course. Whuh ?!?
Ready for some math nerdery? Good, because you’re going to get it.
Your Money: The Missing Manual was exhausted on 01 March 2010. In the eleven years since, the book has received 86 ratings at Amazon. How to Achieve Financial Independence and Retire Early was exhausted on 16 February 2021. In the five weeks since, the course has received 77 ratings at Audible.
What entertains me, though, is that the deterioration of these ratings is nearly identical. Take a examine 😛 TAGEND
Consistently, 5% of folks don’t like my big jobs. Another 5% determine them to be meh. And — thank god — 90% appear to like them.
Anyhow, my Audible course is out! I’m proud of it. I think it’s an excellent intro to the core concepts of the financial independence and early retirement movement. I hope it proves helpful for countless people.
As proud as I am of this course, and as much as I hope it helps people, I’d be remiss if I didn’t be underlined that I firstly explored these basic ideas in The Money Boss Manifesto, which remains available as a free PDF. The Audible course is much more comprehensive and aspects my latest foresees on each subject, of course, but that free PDF is a good resource for kinfolks who can’t( or don’t want to) buy the course.
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