How would you feel about retiring 5, 10, even 20 years earlier than you planned? This probably raises some skeptical eyebrows but hundreds of people are doing just that through a movement called FIRE: financial independence, retire early.

Inside groups pursuing FIRE, it’s common to hear of a couple who retired in their mid-40s. With time, discipline, and understanding of basic financial concepts, I believe you can do this as well.

Joel O’Leary is here with me today to talk about his experience with FIRE and how he’s found balance with this popular movement.

By listening to this episode, you’ll also hear us discuss the epiphanies Joel has had during his 3 year sabbatical, how he built and continues to grow his real estate portfolio, and why he believes happiness is a choice (along with a good story to back it up).

Key Takeaways:

[1:52] Why Joel took a sabbatical and what he has learned since quitting his job

[15:34] The impact Joel’s parents had on his financial habits

[22:34] How Joel uses real estate to create wealth

[28:59] What is FIRE and where is Joel on his journey

[39:08] Debunking common myths about FIRE

[42:52] Joel believes happiness is a choice

Favorite Quotes:

[6:14] “I missed like 50 paychecks in a row…$0, $0, $0. Talk about facing your fears”

[30:32] “It’s a bit of an immature mindset because they think that achieving FIRE is going to magically improve their life.”

[36:05] “I don't want to make decisions based on money anymore. It frustrates me that I have to think about how much this is going to cost me or how much this is going to make me.”

[42:19] “You can achieve financial independence on a very small salary as long as you are spending less than you are earning.”

[43:49] “I personally think happiness is a choice.”

More of Joel:

Subscribe to 5am Joel email list: http://www.5amjoel.com/

Learn more from Joel: www.budgetsaresexy.com

More of TSIR:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/