Subscribe and Watch on YouTube

Join host Bill and guest Diana Falck as they explore the intersection of community resilience and getting involved. In the wake of a recent crisis in Western North Carolina and East Tennessee, the duo highlights local relief efforts and community collaboration. Then in this special 100th episode, we get back to the basics with a step-by-step guide for late starters on the path to financial independence. Our guest for this special episode is original Catching Up to FI co-host, Becky Heptig! She joins Bill and Jackie as they share insights and guide you through how to get on track with your finances. They not only share what to do but in what order. It’s hard starting late and feeling like you’ve done everything wrong. The good news is, there is time to catch up and this is the place to start.

 🔗Connect with us

 Buy CUtFI a coffee

 Record a message for CUtFI

Thank you to our sponsors:

💵 Abundo Wealth: Advice-Only Financial Planning for Everyone https://www.abundowealth.com

❌ DeleteMe: Your personal data is yours again http://joindeleteme.com/catchingup

🧑🏼‍🏫 Personal Finance Club (Use code CUTOFI to get $30 OFF) PFC courses https://courses.personalfinanceclub.com/?ref=0114d0 or PFC investing course only https://courses.personalfinanceclub.com/courses/build-wealth-by-investing-in-index-funds?ref=0114d0

🍑 Nectarine: Advice-Only Financial Advisors https://hellonectarine.com/r/cutfi (Catching Up to FI will be compensated by Nectarine if you use our affiliate link, which creates an incentive and conflict of interest. We are not current clients or employees of Nectarine.)

🏦 Boston Institute of Finance Personal Growth Track: Enter code catchingup to get 5% off any “Personal Growth Track” course or package http://www.bostonifi.com/personal-growth

Resources mentioned on the show: (As an Amazon Associate, I earn from qualifying purchases.)

Red Cross: Donate 

Episodes:

Retiring Before Mom & Dad | Rob Berger | 25

A Hero’s Journey: The Mother of All Case Studies! | Krista and Ed Kim | 97 

Enoughness: Your Life or Your Money | Vicki Robin | 95

Doña Quixote, Life Energy, and The Coming of Aging | Vicki Robin | 94 

Catch-Up Contributions

📗Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence

Shocking Simple Math Behind Early Retirement ~Mr. Money Mustache

The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life ~JL Collins

Ally High Yield Savings Account (4% as of 10/4/24 + $100 Bonus with direct deposit-by 12/31/22024)

Personal Finance Club - example for late starters:  https://www.personalfinanceclub.com/is-it-too-late-to-start-to-investing

The Ultimate Investing Checklist: https://www.personalfinanceclub.com/the-ultimate-investing-checklist

Ground Rules according to the Money Guys 2/1/24: https://moneyguy.com/article/foo

🕒 Timestamps/Chapters:

00:00 Call to Action: How You Can Help in the Disaster in North Carolina and Tennessee

05:28 Introduction

07:50 Celebrating 100 Episodes with Becky Heptig

10:52 Why People Get a Late Start in Financial Independence 17:16 Disadvantages of a Late Start

25:26 Advantages of a Late Start

38:01 Financial Order of Operations for Late Starters

44:57 Eliminating Debt: The First Step to Financial Freedom

45:57 Big Picture Wealth Building Strategies

47:27 Calculating Your Net Worth and FI Number 

49:32 Increasing Income and Reducing Expenses

51:06 Playing Defense: Insurance and Protection

54:51 Offensive Strategies: Emergency Funds and Employer Matches

01:01:35 Investing Wisely: Roth IRAs, HSAs, and More

01:06:15 Risk Tolerance and Rebalancing Your Portfolio

01:10:02 Maximizing Employer Plans and Mid-Range Debts

01:12:55 Hyperaccumulation and Taxable Brokerage Accounts

01:16:06 Prepaying Future Expenses and College Funding

01:22:57 Reevaluating and Automating Your Financial Plan

01:27:09 Final Thoughts and Encouragement

🎧 Listen & Subscribe: Don't forget to subscribe to "Catching Up to FI" for more insightful episodes. Tap the bell icon 🔔 to get notified of new episodes!

✍🏻 Leave a Comment: Share your thoughts or experiences in the comments below. Have questions for our guests or the hosts? Drop them here, and we’ll get back to you!

👍🏻👍🏿 Like, Share, and Subscribe: If you enjoyed this episode, please like, share, and subscribe! Your support helps us bring more valuable content to you.

Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.