In this episode: public service accounts, side hustles, making FI possible, frugality, giving yourself freedom, and side hustles.

This week we are joined by Chris Travers, a New York City public school teacher and FI community member, to discuss his journey from being a natural saver to becoming a savvy investor, talk advantages and disadvantages of some of the retirement accounts provided to teachers, as well as discuss some ways he has been able to grow his net worth in the last 10 years. Frugality is a term that often comes up while on the FI path, and finding a balance of saving and spending is crucial to reaching your financial goals. Remember that where you decide to save and spend and how you do so will evolve throughout your FI journey! While it can be hard to cut costs of the things you enjoy in the present, being willing to cut out what you don’t need can set you up for success in the future!

Chris Travers:

Timestamps:

0:54 – Introduction
6:47 – Public Service Accounts
11:38 – Diving Into FI
15:08 – Side Hustles/Making FI Possible
22:17 – Renting vs Buying
26:43 – Frugality and Loosening the Purse Strings
32:25 – Giving Yourself Freedom
37:53 – Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and FI Resources:

Top 10 Recommended Travel Rewards Credit Cards
Empower: Free Dashboard to Track Your Finances
CIT Bank Platinum Savings Account
M1 Finance: Commission-Free Investing, 1-click rebalancing
CashFreely: Maximize Your Cash Back Rewards
Travel Freely: Track all your rewards cards and points
Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
Student Loan Planner: Custom Consult (with $100 Discount)
Get a cheaper phone plan with Mint Mobile

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Shownotes Transcript

486 | The Wealthy Educator | Chris Travers