In this episode of the Love & other assets podcast, Emily Luk, CEO and co-founder of Plenty, interviews Sam Dogen, the founder of Financial Samurai. He was previously at Goldman Sachs and Credit Suisse, from which he retired at age 34. Dogen is a graduate of The College of William & Mary and received an MBA from the University of California, Berkeley. 

Sam shares his journey from Wall Street to financial independence, discussing his early inspiration for finance, experiences during the dot-com era and the 2008 crisis, and the origin story of Financial Samurai. He candidly reflects on his decision to wait until later in life to start a family, highlighting the benefits of early family planning. We delve into his philosophy of extreme frugality, which allowed him to save 70% of his income early in his career. Sam discusses the balancing act of raising children and maintaining financial goals, emphasizing the importance of financial conversations in couples. 

Throughout the conversation, Sam provides valuable insights on achieving financial freedom, navigating family life, and embracing a fulfilling lifestyle that prioritizes both wealth creation and well-being.

What We discussed: 

Early Fascination with Wealth: Sam recalls being intrigued by wealth from a young age, inspired by encounters with successful individuals in his childhood.

Transition to Wall Street: Sam's interest in finance led him to study economics and Mandarin at the College of William and Mary. He began day trading in college, sparking his desire to pursue a career in finance. Sam shares his journey to Wall Street, from internships to landing a job at Goldman Sachs and later at Credit Suisse.

Experiences in Finance: Sam reflects on the highs and lows of his career in finance, from the excitement of the dot-com boom to the challenges of the global financial crisis. He shares stories of layoffs and the changing atmosphere on Wall Street during turbulent times.

Transition to Entrepreneurship: Sam discusses his decision to leave finance and pursue entrepreneurship. He shares a pivotal moment that sparked his transition.

Building Passive Income: Sam explains his strategy for building passive income, emphasizing frugality and strategic savings. He shares insights into his financial philosophy and the importance of saving aggressively to achieve financial freedom.

Navigating Family Planning: Sam reflects on his experience of delaying family planning and the eventual decision to have children. He shares advice for his younger self, urging prioritization of family planning and cherishing time with loved ones.

Financial Philosophy: Sam emphasizes the importance of saving and investing aggressively, encouraging couples to align their financial goals and have open conversations about money. He discusses his frugal lifestyle and how it has shaped his approach to finances with his wife.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Watch the interview on YouTube here.

Brought to you by Plenty. Plenty is a wealth platform helping modern couples invest and plan for their future together. We bring the investment strategies and products of the wealthy to the everyday household.

SELECTED LINKS FROM THE EPISODE

Connect with Sam Dogen: Website | LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

PEOPLE & RESOURCES MENTIONED

Channing Allen

Financial Samurai

Goldman Sachs

Credit Suisse

CNBC

Godaddy