FIRE: Financial Independence, Retire Early With Eric Richard | TNN13

The New Nomad

Retirement has a synonym: financial independence. Both terms are used to define a financial status that, once reached, means you’re no longer dependent on outside sources of income. Eric Richard worked his way into a lucrative corporate job in supply chain management, but with that came long hours and a terrible commute. After realizing that frugality can go a long way, he saved $500k and traveled around the world.

In this fun and wisdom-filled episode of The New Nomad, Eric joins Andrew Jernigan and Allen Koski in educating and inspiring our audience to achieve FIRE (Financial Independence, Retire Early). Most people dream of retiring early and our 3 nomads share their experiences, ideas, and tips on how to do just that. From being frugal and investing smartly, it’s an episode full of gold nuggets that will surely be handy one of these days.
[3:16] The one who owes money and the one who makes money

[7:01] On smart and practical spending

[13:53] Automate and save

[16:23] Practical and comfortable traveling

[19:43] Saving tip: Invest

[22:17] Colombia: not just about Narcos
GUEST BIO:

Eric Richard is a millennial on the path of FIRE (Financial Independence, Retire Early).

I July 2019, Eric quit his full-time W2 job to become a location-independent entrepreneur and achieved lean FIRE. Living in Austin and working as an Operations Manager in the warehousing and logistics industry, he had a long commute, an odd work schedule, long hours, and night and weekend shifts. He found out about FIRE at the end of 2015 and immediately began to make many positive life changes in regards to his finances. Eric focused on avoiding Lifestyle Inflation and reducing costs on the Big 3: Housing, Transportation, and Food. He also utilized Travel Hacking to save money on flights and hotels.

Eric now hosts the Nomad on FIRE podcast, where he talks about the digital nomad lifestyle and FI. He interviews other digital nomads, early retirees, entrepreneurs, freelancers, world travelers. Eric has visited 16 countries, including Latin America and Southeast Asia, but says he’s never touched down in Europe.
Eric Richard Links:
Website: https://nomadonfire.com/
Instagram: https://www.instagram.com/nomadonfire/
Amazon: https://www.amazon.com/The-Nomad-on-FIRE-Podcast/dp/B08K58D25W
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