Old Truck to Financial Freedom | 9toFI Ep017 | 9 to FI Podcast
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Old Truck to Financial Freedom | 9toFI Ep017 | 9 to FI Podcast
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About this listen
In this episode of nine to FI, we dive into how owning a 13-year-old Chevy Colorado for over nine years has significantly contributed to my journey towards financial independence and early retirement. Join Josh and Elliot as they discuss the financial benefits of keeping an older vehicle, the insights from recent car ownership statistics, and practical steps for turning a vehicle from a money pit into a money-making asset. We also share strategies on monthly savings, the gig economy, and how to maximize your car's utility for small businesses and side hustles. Don't miss out on the valuable tips for anyone looking to make thoughtful financial decisions about car ownership!
00:00 Introduction: Can Cars Build Wealth?
00:25 Meet the Hosts: Josh and Elliot
00:56 Car Ownership Stats and Trends
03:21 Commuting and Carpooling Insights
05:57 Monthly Savings Project
06:40 Streaming Services and Mobile Savings
09:47 Internet Provider Hacks
15:36 Josh's Truck: A Wealth-Building Tool
22:38 Cost of Ownership and Financial Impact
24:44 Mindset and Identity: Truck as a Symbol
30:19 Turning Vehicles into Moneymakers
32:12 Advice for Younger Self and Conclusion