Financial independence is a goal that many people hope to achieve. It offers the freedom to pursue one’s interests without worrying about the constraints of finances. However, the journey toward financial independence is often challenging and requires discipline, dedication, and motivation. Our guest’s financial independence journey is a remarkable example of what it takes to achieve this goal.
Geodel Isip is a physical therapist based in Southern Illinois and a budding real estate investor. He started his journey toward financial independence when he got married. Dana, his wife, had been asking him to save, but he was not motivated just for the sake of doing so. Instead, he only understood saving money when it was for something he wanted. For this reason, he didn’t have money to invest and believed it was gambling.
However, our mutual friend, Bernard Sanga from Season 1 (Real Estate Investing 101), encouraged him to start investing and be financially conscious. This lesson was amplified when he didn’t have enough money in his bank account to pay his credit card bills. His checking account went into overdraft, and then he realized that he had to work every day of the week for the rest of his life to sustain his lifestyle. Where would he be if he did not start saving soon? Fear became his prime motivation to take the unconventional path.
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Geodel started listening to podcasts and became attentive to his patient’s stories. He realized that some people still worked at 80 because they couldn’t live off social security alone. He didn’t want that life for himself. He had been in the US for seven years earning good money. However, he still found himself in debt. He once joined a meet-up group that cost $2000 a year, bought breakfast at coffee shops daily, and signed up for clothing subscription boxes. A lifestyle that made sure that he’ll be trapped for the rest of his life.
He started using Acorn, an investment platform that rounds up purchases and invests the difference to control his spending and lifestyle creep. Since he was into buying things so much, he accumulated a small sum of money. A good start but instead of reinvesting it, he took it out to buy some more stuff. Getting married inspired him to have more discipline with money because he wanted to give his future family a good life.
Wanting to restrain his spending impulse even more, he opened an IRA account with Betterment, investing a more significant chunk of his paycheck. He automated his investments, forcing him to spend only what was left after saving. Penalties for early withdrawal in IRA accounts stopped him from taking out assets to fund impulse buys.
Geodel became dedicated to living his life intentionally. Upon noting what makes him happy, he finds that he doesn’t need much money for most. Cutting out everything that didn’t give him happiness saved time, and he learned to respect the power of money.
He felt at ease seeing their retirement horizon in online calculators. His goal is not about retiring early or luxury travels but freedom. He plans to work until he can for medical insurance, and his wife is on board with the plan, but she lets him handle the specifics.
Geodel’s financial independence journey is a testimony that financial independence is possible despite rough beginnings. It is tough to achieve financial freedom, but it is possible with motivation, discipline, and dedication. Live intentionally, know your “Why,” and take the next step to achieve financial freedom.
About Us
We are a Pinoy Physical Therapist duo living somewhat unconventional but intentional lives. In this podcast, we want to learn how Filipinos worldwide in different industries and walks of life earn, spend, save, and invest money to achieve Financial Independence.
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DISCLAIMER
We are NOT certified financial advisors, analysts, or CPAs. Investing strategies shared in this article and the website are not financial advice but our opinions for educational purposes only. We want you to treat our content as a preview to do your research so you can make smart financial decisions.
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