Ep. 153 - He Gave Away (over) $1 Million Before the Age 40 - Giving Away 44% of His Income This Year

The Good Financial Cents Show w/ Jeff Rose, CFP®

Many people are familiar with the ‘FIRE’ movement. Fire stands for:

Financially

Independent

Retire

Early

If you are a FIRE advocate, you are saving large amount of your income - 30, 40 or 50% (or greater). People on the outside can’t understand how you can save so much.

If you have a hard time understanding how someone could save 50% of their income, imagine someone giving half of their income away!

I’m doing to introduce you to Bob Lotich who is giving away 44% of his income. He has given away over a million dollars by the time he turned 40.

04:03 One Year Sabbatical

06:15 The ‘Aha’ moments

10:15 How did it feel when you started giving?

19:04 At what point was 10% not enough for a tithe

22:45 What is your take on true financial freedom

25:18 How hard was it to increase the % you were giving each and every year?

27:08 How do you make your contributions automatic?

30:01 What is an example of a situation or a person that you are able to plant the seed of giving?

33:06 How do you encourage someone to start giving, even if they do not feel able?

34:50 What message do you hope readers will get out of your new book Simple Money Rich Life?

Resources:

Simple Money Rich Life

https://wealthhackerlabs.com/ask/

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