Freedom Day - 8 Steps to Financial Independence for You and Your Kids - with Jeff Kikel cover art

Freedom Day - 8 Steps to Financial Independence for You and Your Kids - with Jeff Kikel

Freedom Day - 8 Steps to Financial Independence for You and Your Kids - with Jeff Kikel

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 In this episode of FI for Kids, host Dominic DeLaquil interviews Jeff Kikel, a chartered financial consultant and author of 'Freedom Day.' They discuss Jeff's journey from financial ignorance to financial independence, emphasizing the importance of budgeting, creating a bucket list, and retraining one's mindset to think like an entrepreneur. Jeff shares his eight-step process to achieve financial freedom, highlighting the significance of teaching financial literacy to children and young adults. In this conversation, Jeff Kikel and Dominic DeLaquil discuss the importance of building family businesses, retraining one's mindset for success, and creating passive income streams. They emphasize the significance of teaching financial independence to children and the effective use of the debt snowball method to eliminate debt. The discussion also highlights the necessity of tracking finances to understand one's minimum required income and achieve financial freedom. In this conversation, Jeff Kikel discusses the importance of understanding family finances, reaching financial independence, and living intentionally. He emphasizes the significance of family discussions about money, the concept of 'Freedom Day,' and the three types of freedoms one can achieve in life. Jeff also shares insights on creating a bucket list and the upcoming launch of his book, 'The Retirement Trap,' which aims to guide readers towards financial freedom.TakeawaysFinancial education often starts at home, but many lack it.Experiencing financial ups and downs can shape one's perspective on money.Understanding budgeting is crucial for financial success.Creating a bucket list can motivate financial discipline.Retraining your brain to think like an entrepreneur is essential.Debt can be managed and eliminated with the right strategies.Freedom Day represents the point where work becomes optional.Building passive income streams is key to financial independence.Starting small with financial goals can lead to bigger achievements.Teaching kids about money early can set them up for success. Start a family business to teach kids entrepreneurship.Retraining your brain is essential for success.Creating passive income can fund your dreams.Motivation comes from achieving your bucket list.Teaching kids financial independence is crucial.The debt snowball method accelerates debt repayment.Tracking your money helps you understand your finances.Budgeting is key to knowing your minimum required income.Financial education should start early with children.Investing in experiences can lead to personal growth. Understanding family finances is crucial for harmony.Discussing money openly can prevent conflicts.Reaching your 'Freedom Day' is a significant milestone.Financial freedom allows for a more intentional life.Creating a bucket list can enhance life satisfaction.The importance of having a purpose in retirement.You can still work and enjoy your job after financial independence.Intentional living leads to a more fulfilling life.The upcoming book 'The Retirement Trap' offers valuable insights.Building relationships is key to a fulfilling life.Episode links:https://www.freedomdaymethod.comMusic: https://www.reverbnation.com/douglascameronSponsors: https://www.slyngshot.aiChapters00:00 Introduction to Financial Independence01:17 Early Lessons on Money03:06 Transitioning to Financial Services06:20 The Journey to Entrepreneurship07:14 Reaching Freedom Day07:14 The Eight Steps to Freedom Day15:04 Building Family Businesses Together16:52 Retraining Your Brain for Success17:56 Creating Passive Income Streams19:21 Motivation and the Bucket List21:11 Teaching Kids Financial Independence22:41 The Debt Snowball Method24:57 Tracking Your Money for Freedom27:59 Understanding Family Finances28:46 Reaching Freedom Day29:58 Intentional Living and Bucket Lists29:58 The Retirement Trap Book Launch32:58 New ChapterSound Bites"Work becomes totally optional.""I paid off all my debt.""I don't care if we have to live in a car.""I reached age 55. I sold a business.""Think like an entrepreneur.""Retraining your brain is key to success.""I became the bank and financed the thing.""It's all about retraining your brain.""Budgeting gives some people PTSD.""What could we do as a family?""You hit your freedom day!""Freedom of financial freedom!""I want to be the one driving life.""The retirement trap book is coming!"Keywordsfinancial independence, money management, teaching kids about money, rule of 72, investment strategies, financial literacy, wealth building, financial literacy, money multiplication, investing early, financial education, family finance, investing, financial planning, parenting, community engagement, investing in kids, future generations, parent kids passions, financial freedom, financial stability, young adults, budgeting, entrepreneurship, freedom day, debt reduction, passive income, family business, side hustle, debt snowball, budgeting, retraining your brain, teaching...

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