Y’all, let’s set ourselves on FIRE (relax, this is a GOOD thing!) FIRE stands for Financial Independence/Retire Early! Who doesn’t want that, am I right? In this episode, I’m talking to Mrs. Miller from the blog Millers on FIRE. The Millers are a couple in their 30s sharing their money optimization skills and journey to reach FIRE. Mrs. Miller is a Latina and native New Yorker. She is a first-generation college graduate who is on the FIRE journey along with her husband. On her blog, she focuses on financial independence and early retirement. Millers on Fire is full of money hacks, cost-cutting tips, money mistakes and what the Millers have learned about budgeting, saving, investing and travel hacking. Follow her on Instagram and Twitter!
In Episode 7, Mrs. Miller talks about:
- Lifestyle inflation that comes with a salary raise—making what feels like a lot of money when you are first generation can bring up a scarcity mindset. We will never feel like we have enough, or we overspend to over-compensate for what we didn’t have when we were younger.
- Her FI/RE investment vehicles—Mrs. Miller at the time held most of her investments in things like index funds.
- The imposter syndrome that often comes with being a first-generation wealth builder—building wealth is not something we are used to. When we are doing it, it may feel like we are in the wrong place. Yo Quiero Dinero is here to tell you one thing: you are not in the wrong place.
- Family & money—here, Mrs. Miller talks about feeling a lot of guilt over the differences between her own financial life and that of her family. Something that she does (as do other families) is to save money for family emergencies.
Episode 7 is for all first generation wealth builders. Mrs. Miller will affirm how you are feeling, as will Yo Quiero Dinero. Poderosa, you are in the right space. If you are trying to gain financial literacy, you are a radical. If you are trying to build wealth, you are paving the path. And if you are trying to secure the financial future of you and your family, you are a revolutionary.
Being a first generation anything can be daunting. But we must get rid of our imposter syndrome that tells us we aren’t doing what we’re supposed to. Listen to this episode with Mrs. Miller to know what to do to get started on your FI/RE path. Share with another friend to remind them that they are enough. So “enough” that they are worthy of building wealth.
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