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Can you reach Financial Independence?
Learn the five unique steps LGBTQ+ folks can take to achieve financial independence, go of any excuses and learn how you can retire early even when you have kids, on this week’s Queer Money®. Then kick start your financial independence journey by getting your free copy of the 7-Step Credit Card Debt Slasher.
What unique steps can LGBTQ+ people take to reach FI
Pick your FIRE number. Pay off debt. Avoid lifestyle creep. Spend intentionally. Increase your income.
A lot of FI advice is pretty beige, and colorful people like us need creative solutions to address our unique needs in order to get the same or even better results!
On this episode of Queer Money®, we share five unique steps LGBTQ+ folks can take to achieve financial independence, explaining how we used company-sponsored retirement plans to reach millionaire status without making six figures. We explore how employer stock purchase programs or ESPPs allow you to buy shares of the company you work for at a discount and describe some of the other employer benefits that might be available to you.
Listen in for insight on using annuities or insurance to reach and maintain financial independence and learn how to protect yourself and your loved ones and achieve FI—no matter what the Supreme Court decides to do.
Listen to find out how you can reach financial independence:
Topics covered on how to reach financial independence
- How using a company-sponsored retirement plan can help you achieve FI
- How we reached millionaire status in less than 15 years without making 6 figures
- The option to have a self-directed 401(k)
- 5 unique steps LGBTQ+ folks can take to reach financial independence
- How ESPPs allow you to buy shares of the company you work for at a discount
- Why we recommend either a fixed or indexed annuity with a survivor benefit
- The benefit of securing disability, long-term care and life insurance
- Why it’s crucial for LGBTQ+ individuals to update our legal documents and beneficiary info
- Employer benefits that might be available to you, e.g.: tuition reimbursement
Connect with David and John
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- 7-Step Credit Card Debt Slasher
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Resources on how to reach financial independence
- The Path to Financial Independence on Queer Money® EP050
- Financial Independence Retire Early on Queer Money® EP080
- How to Achieve FI on Queer Money® EP152
- LGBTQ Financial Independence on Queer Money® EP281
- The Motley Fool-Debt Free Guys LGBTQ+ Money Study
- The National Study of Millionaires
- 7 Basics of Annuities on Queer Money® EP298
- How to Know If You Should Buy an Annuity on Queer Money® EP307
- Genworth Cost of Long-Term Care Survey
- SAGE
- Long-Term Care Insurance for LGBT People on Queer Money® EP071
- Why All Queer People Need Life Insurance on Queer Money® EP019
- Getting Life Insurance When You’re HIV Positive on Queer Money® EP139
- The Employer Participation Repayment Act on Queer Money® EP262
- Employer Participation in Repayment Act
- House Hacking on Queer Money® EP312
- Todd Tresidder on Queer Money® EP50
- CreditWise
Get more on how to reach financial independence :
- 7 Steps to Achieve a Fire Lifestyle
- How to FI/RE as a Single Person
- How to Retire Early When You Have Kids
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.