Early Escape: FI & RE Guide

In this episode of Paying Off Your Mortgage, Jake Carson and Lily Morgan dive into a common conundrum faced by diligent savers in their 40s. Our listener has been maxing out retirement accounts like Roth IRAs and 401ks, but now faces a sizable mortgage that’s preventing an early exit from the workforce. We explore the tough decisions of reducing retirement contributions to pay down the mortgage fa...

In this special episode of From $3.4M to Freedom, Jake Carson and Lily Morgan explore the fascinating and inspiring journey of a 40-year-old former tech executive who achieved financial independence with a $3.4 million net worth. From growing up in a challenging environment to climbing the corporate ladder in the tech industry, our guest shares how a shift in perspective, combined with strategic i...

In this episode of Journey to FIRE, Jake Carson and Lily Morgan chat with a 26-year-old listener who has reached an impressive financial milestone of over $200K CAD in net worth. Working in the healthcare field with a solid hourly wage and overtime benefits, our guest shares their approach to investing in XEQT and TEC ETFs, learning valuable lessons about market timing, and steadily making gains....

In this episode of Brokerage Tracking & Risk Management, Jake Carson and Lily Morgan dive into the art of managing investments through spreadsheets. Our listener has been day trading high-risk stocks and earned over $250K this year but is now aiming to dial back the risk and focus on more realistic gains as they plan to retire in two years. We explore their approach to tracking investments, th...

In this episode of MBA or Military, Jake Carson and Lily Morgan tackle a career crossroads faced by a 32-year-old with 10 years of U.S. military service and a net worth of $1 million, including $400K in real estate investments. Our listener is debating whether to stay in the military for another decade to secure a full retirement, pivot to a top 15 MBA program using the GI Bill, or switch to reser...

In this episode of Life After the Sale, Jake Carson and Lily Morgan sit down with a 30-year-old entrepreneur who’s about to close on the sale of his business, netting around $1 million pretax. With a decade of self-employment experience and a management degree, our listener is now facing a new challenge: transitioning back into the workforce after years of running a successful business. We explore...

In this episode of Inflation Adjusted Returns, Jake Carson and Lily Morgan explore a key question for those on the path to FIRE: Are you double counting inflation in your retirement projections? Our listener, who’s been following a 6.5% return assumption and a 3% annual increase in expenses, is now questioning if they’re unintentionally being too conservative or missing the mark on their estimates...

In this episode of Pay Off Debt or Build Wealth?, Jake Carson and Lily Morgan dive into a classic financial crossroads faced by many: whether to focus on paying off a $150K loan at 6.5% interest or to continue building a brokerage account. With $10K monthly going into investments and a goal of retiring in 10 years, our listener is weighing the benefits of accelerating their loan payoff to free up...

In this episode of Living Off Your IRA, Jake Carson and Lily Morgan explore the journey of a listener who made over $300K by actively managing their IRA like a full-time job. With a background in finance, they’re now contemplating whether to return to their consulting career or continue building wealth through their IRA. We’ll dive into strategies for drawing down funds in your 40s, minimizing the...

In this episode of Millionaire at 30, Jake Carson and Lily Morgan celebrate a remarkable milestone with a first-generation immigrant who recently hit a $1.1 million net worth before turning 30. From moving to a new country, studying medicine, and transitioning to a highly rewarding career in cybersecurity, our guest shares their inspiring journey of living below their means while enjoying non-luxu...

In this episode of From $1M to $3M, Jake Carson and Lily Morgan dive into a question many people have after hitting their first big milestone: how long does it take to double or triple your net worth once you reach $1 million? We explore historical data and strategies to understand which asset classes and investments have helped accelerate this growth the fastest. From equities and real estate to...

In this episode of Almost FIRE, Jake Carson and Lily Morgan sit down to explore the story of a 51-year-old who’s close to achieving financial independence but struggling to find a sense of purpose after a life-changing divorce. With a cushy remote job earning $220K, $2 million saved, and minimal expenses, they’re facing a decision: coast along in their current gig, seek a higher-paying but more de...

In this episode of Scaling the Side Hustle, Jake Carson and Lily Morgan dive into the dilemma of a 38-year-old who has built up $1.1 million in investments and owns a home with significant equity. Juggling a full-time 9-5 and a booming side hustle, our listener now faces a crossroads: stay with the stability of a traditional job or take the leap and go all-in on their growing business. We’ll discu...

In this episode of Retirement Ready? , Jake Carson and Lily Morgan delve into the journey of a 55-year-old preparing for retirement with a solid portfolio of $2.7 million in a 401(k) and ESOP pension. Living in a low-cost area, our listener has conservative expenses but wants reassurance that they’re set for a comfortable retirement. We discuss the steps they’re taking to roll their ESOP into a 40...

In this episode of Balancing Wealth and Well-being , Jake Carson and Lily Morgan discuss the challenges of stepping back after years of grinding toward financial independence. Our guest is a 42-year-old business owner with $2.5 million saved, a family to care for, and a goal to retire by 50. But after decades of non-stop work, he’s grappling with the idea of taking his foot off the gas, reducing i...

In this episode of Purpose Beyond Wealth , Jake Carson and Lily Morgan explore the journey of a 30-year-old who has achieved financial stability but is now searching for deeper meaning and purpose. With $400K in investments, a paid-off $600K home, and a stable six-figure remote job, they’re asking, “What’s next?” We’ll discuss the complexities of transitioning from a frugal lifestyle to embracing...

In this episode of Tracking Your Net Worth , Jake Carson and Lily Morgan explore the best tools for keeping tabs on your financial progress. Inspired by a question from the r/Fire community, we dive into app recommendations and the pros and cons of using spreadsheets versus dedicated net worth tracking apps. We’ll highlight free options that are spam-free, provide meaningful insights, and discuss...

In this episode of Financial Independence , Jake Carson and Lily Morgan discuss a crucial aspect of reaching FIRE: making informed, independent financial decisions. Inspired by recent r/Fire community posts, we explore why it's essential to resist the urge to outsource financial planning to strangers on the internet. Instead, we delve into the importance of building your own knowledge base—underst...

In this episode of Bitcoin Regrets , Jake Carson and Lily Morgan dive into a story that hits home for many early Bitcoin adopters. Our listener shares a tale from the mid-2010s, when they spent a night at a local pub offering 2-for-1 beers in exchange for Bitcoin—back when $3 could buy a whole Bitcoin. Fast forward to today, and that night out translates to a jaw-dropping $470,000. We discuss the...

In this episode of Maxing Your HSA in Retirement , we, Jake Carson and Lily Morgan, unpack the ins and outs of Health Savings Accounts (HSAs) for retirees. We respond to a recent query from a listener who retired in May and is navigating their HSA contributions for 2024. After moving their HSA from an employer-sponsored plan to Fidelity, they’re wondering if they can still max out contributions ev...

In this episode of Chasing $15 Million , Jake Carson and Lily Morgan dive into the ambitious goals of a young professional from the r/Fire community, who is aiming to reach a $15 million financial milestone. Already saving a substantial portion of his high income, he’s exploring ways to speed up his journey, from adding income streams to considering real estate investments. We’ll discuss the varie...

In this episode of Beyond FI , Jake Carson and Lily Morgan explore what it means to live a truly “rich life” that goes beyond financial independence. Inspired by a Reddit discussion from a user in their late 30s, we delve into topics like redefining purpose, achieving personal growth, and building a life filled with travel, family, and meaningful experiences. We'll discuss frameworks, resources, a...

In this episode of Investment Dilemmas , we, Jake Carson and Lily Morgan, dive into a common challenge faced by many in the FIRE community: figuring out the best place to invest excess cash. Our listener has a solid foundation with over $126K in various accounts, including chequing, mutual funds, and TFSA holdings, but they’re unsure how to maximize their savings as they work toward a large down p...

In this episode, Jake Carson and Lily Morgan dive into an intriguing r/Fire community discussion. A user is considering leaving their job to live off a 5% withdrawal rate, supplemented by a side hustle that could cover up to 100% of their expenses over the next 5-10 years. We unpack the advice shared by the community, explore tools for calculating safe withdrawal rates, and weigh the pros and cons...