Episode 132
"Sometimes, having a little bit of scarcity helps you to see the value of your resources."
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Sound credits: Levels by Yung Kartz ($HMONEY theme song - intro/outro music)
Edited and produced by Anastasia Barbuzzi, founder and creative director of $HMONEY ($HMONEY Radio).
Episode Summary
Gain financial independence and retire early. Rachel Covert of @racheltalksmoney did this, but not without hardship.
At the end of her 15-year fashion career, Rachel was living her dream as the VP of a nine-figure fashion business. Then at 29, she was diagnosed with Rheumatoid arthritis and realized that she was working her ass off to climb the ladder, but by 65, she might not be physically able to due to her health.
At 36, Rachel discovered the FIRE movement (Financial Independence, Retire Early) and left her fashion career semi-retired with hundreds of thousands in investments. She also began to travel, but on each of her trips, she realized that most women she met lacked financial literacy - to the point that many didn't even realize they should know how to manage money.
So, she started Rachel Talks Money and her signature coaching program, Electric FI Wealth, to teach women how to ditch the paycheck-to-paycheck cycle and build lasting, sustainable wealth.
In this episode, we discuss:
Growing up in a frugal household
Her decision to retire early and how she did it at 36
Falling in love with the FIRE movement
The privilege that comes with being able to walk away from work
Meeting her partner on a personal finance dating website
Realizing the lack of financial literacy and education women had on her travels
Living with a chronic illness and maintaining financial well-being
The cost of being chronically ill
The bandwidth needed to save money when sick
Financial avoidance when you're in a dark place
Some of her top tips for women when it comes to making your money work for you
Breaking the paycheck-to-paycheck cycle
Why it's not always easy to save when you're six-figure earner
The three pillars of her program: mindset, automation, and investing
And much more!
Also available on Apple Podcasts, Spotify, Overcast, Castro, Castbox, Podfriend & Pocket Casts.
