The Culture of Money vs Financial Independence with Becky Heptig

Welcome back to the Micro Empires Podcast! I’m your host, Jennifer Ives Grimson. Is 50 too late to start your path to FI? No! Becky Heptig, owner of startedat50.com, and her husband found themselves in debt and with no savings at the age of 50. When they realized they couldn’t live this way anymore, they turned it around and retired EARLY! If you’re tired of the typical culture of money and want to turn it all around to achieve Financial Independence no matter where you are in life, this is their story!   Note: Today’s episode was previously recorded last November of 2019 [00:01 - 04:55] Opening Segment I share the importance of today’s topic The culture of money and Financial Independence  I introduce Becky to the show [04:56 - 13:18] Becky’s Wake Up Call Becky shares a bit about her journey Drifted through life financially  Engaging in typical American Consumerism Becky realized she didn’t have enough to save after having to cut her salary Becky talks about how her family hit rock bottom Moved to Boston for her husband’s job Returned to Texas in worse shape after her husband was laid off his job Sold off their liabilities  No safety net  Becky realized this couldn’t continue  [13:19 - 24:59] Shifting the Culture of Money Becky shares about the steps they took  Becky’s husband closes his business  I share my thoughts on the culture of money  Becky talks about the change of mindset they had  Realizing the things you think you need to do are not that important She started listening to Dave Ramsey Changing the mindset of consumption  Based on financial principles on biblical principles  How the situation turned around Becky’s husband got a job paid in bonuses  Using her new financial knowledge to manage the new income   [25:00 - 38:20] From Digging Out to Growing I talk about how Becky’s story can relate to everyone It doesn’t take a lot of money to make a difference How Becky dug out First learned frugality and saving  Changed spending habits completely  Took their money to an Edward Jones advisor  Began investing   How Becky began to grow Becky realized they can use their knowledge and add to it Moved their money to Vanguard where they learned more financial tips  Listening to ChooseFI Podcast The pain was useful and profitable I share my final thoughts on this topic [38:21 - 49:03] Closing Segment Favorite resource? Simple Path to Wealth The Retirement Manifesto  Paula Pant What is the best piece of advice you’ve ever gotten? To be sure to live life while you’re on your path to FI (Financial Independence) Becky’s advice to those in debt Spend some time to figure out where you are Forgive yourself  Get a mentor and accountability Formulate a plan and move forward  We briefly talk about the value of budgeting  Final words from me and Becky   Tweetable Quotes: "It doesn’t take a large income to make a difference, anything you do today can make a difference.” - Becky Heptig “I’m encouraging  people to just start as soon as they can, because every little bit that you do will make your future more comfortable and less stressful.” - Becky Heptig “I don’t ever want to go back and live through what we did… but it took that extreme pain to turn us around.” - Becky Heptig Resources Mentioned: Dave Ramsey Simple Path to Wealth - J.L. Collins The Retirement Manifesto  Paula Pant ChooseFI Podcast If you’d like to connect with Becky you can find her on Facebook and email her at [email protected] .  Learn more about Becky by visiting her website startedat50.com.   You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I’m excited to know more about you. Also, feel free to shoot me an email at [email protected] TELL US WHAT YOU THINK! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes. This podcast is about YOU.  We all have a story; whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.  Let's Work Together Subscribe to download my FREE eBook, "3 Steps to Pivot and Thrive: Using Micro-Risks to Build Your Micro Empire." Click https://micro-empires.com/coaching and I’ll see you there!