Build A Wealthy Spirit
What would you accomplish if you felt empowered to take more risks and pursue work you love? Many of us live life on autopilot, checking boxes while constantly on the lookout for the next best job, only to realize we still feel dissatisfied and lack purpose. Each week, Sammie and Michelle explore tools their community can use to unlock their full potential. Since it’s hard to build a meaningful life without a secure financial foundation, they break down the most actionable ideas from the financial independence community to help people move from a season of scarcity to abundance.Money without purpose isn’t satisfying in itself, so they take things to the next level by sharing ways to identify your values so that you can feel empowered to pursue the dreams that are most meaningful to you. Join us as we rethink the status quo and Build A Wealthy Spirit!
Build A Wealthy Spirit
104. Financial Runway
Sammie and Michelle take a look at what a financial runway is, how to calculate your financial runway and the benefits of knowing your runway. Knowing your runway is helpful if you want to take time off work and are wondering how to prepare for a sabbatical and/or if you find yourself unexpectedly out of work and want to know how long you can live off your savings and investments.
Show Notes:
- Burn Rate: What It Is, 2 Types, Formula, and Examples
- Roth IRA Withdrawal Rules
- Trinity Study
- #390: Ask Paula: HELP! My Bills Are Too High
- Michelle's Runway Calculator
Catch Michelle on the Pathless Path Podcast
- Pathless Path Podcast: https://think-boundless.com/podcast/
- The Art of Sabbaticals - Cécile and Michelle on finding "forgotten hobbies", writing online, improving their relationship with money, abundance mindset and rediscovering joy
- Pathless Path (book)
Related Status Post Adulting Episodes:
- #16: Tracking Your Spending
- #31: How To Invest In Index Funds
- #45: Calculating Your Savings Rate
- 93. Wait...What's FIRE Again?
Email: statuspostadulting@gmail.com
Instagram: @statuspostadulting
Find more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!