- Katie, founder of Along the Camel Ride, is a 40 year old single nurse living in Philadelphia
- Learned a lot from FrugalWoods about how to lower expenses
- Raised by frugal parents who passed on those good habits
- Her parents invested in the Wellington Fund which completely funded her undergraduate college expenses.
- She doesn’t hear a lot of people in her generation talking about money
- Katie planned ahead for nursing school. She only borrowed $22k which she repaid in 5 years
- She doesn’t invest in individual stocks. She prefers index funds and ETFs especially VTASX which is popular in the FIRE movement.
- She learned about VTASX from JL Collins, the simple path to wealth.
- When it comes to spending, Katie thinks about her priorities: her retirement accounts, her house and travelling.
- Katie tackles many home repair projects. She replaced her garbage disposal late year!
- She projects achieving FI at age 46. She intends to continue to work for health insurance and she enjoys caring for patients. This is her plan for at least the next 15 years.
- Katie pays it forward by supporting several charities.
- She also helps improve financial literacy. For example, she will show a new employee how money invested in the company 403 b will grow over time. That usually convinces them to start saving now!
- She’s learned that she has had to re-prioritize some things. For example, she wants the people she dates to be into personal finance as she is.
- Katiewishes she hasn’t spent so much and spent more time with friends.
- Was so frugal last year that she wants to increase her spending. Wants better work life balance.
- She came up with the title of her blog, Along the Camel ride based on a trip to Morocco. It was a rocky ride, fraught with risk, but she decided to just go for it which she says is a metaphor for her life.
- Her advice for people about FIRE is that you should do what you can do. You likely don’t need as much as you think you do.
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In this episode, Roy tastes O’Dell Brewing Company’s Myrcenary Double IPA. I selected Vanilla Ice Cream Stout from Wild Leap out of La Grange GA.
Here’s the link to listen: FW 004 Hop Spot