June 21, 2022

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


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

More from The Mindful FIRE Podcast

Books I recommend

Disclaimer: This should not be taken as financial advice.

Important Note: It’s important that I call out that none of this conversation is or should be considered financial advice. It’s for entertainment and education purposes only. Make sure to explore these concepts on your own and with financial professionals you work with.

Shoter Version of previous weekly sit pr-reoll

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