How To Save $40,000 For Financial Independence + Savings Rate - FIRE Movement

[@JarradMorrow]

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[@qmakesithappen]

"You're the last line of defense for the money in your bank account" that was real. Great video and message as always Jarrad 💪🏁

[@JarradMorrow]

Thanks!

[@daisyconsuelo]

I love your ambition and how you could care less what others think!

[@JarradMorrow]

Thanks :)

[@KateKaden]

OMG JARRAD! "I ain't strokin anything of yours (ego)!" I just died laughing. I had never heard of the Diderot Effect. Good storytelling. I enjoyed the point of that story especially because it's SOOO true. I'm so sorry to hear about your brother. Thank you so much for sharing with us. Really enjoyed this video and learning more about you. Have a great day! -Kate

[@JarradMorrow]

I originally heard about the Diderot Effect from a book called Atomic Habits and thought it was good enough to implement into my life. Glad you liked it 😃. Thanks for the kind words.

[@maryjanearredondo3671]

Great video. My 12 year old son is struggling with peer pressure and thinks everyone around us is rich. I try to explain things to him but it’s hard because to him I do not understand. I sent him your video to watch, you explained it much better.

[@JarradMorrow]

Poor guy. Rapping your head around that sort of thing is really tough at that age. Just keep hammering that into his head and I'm sure the lightbulb will go off at some point. Keep up the good work!

[@matthewwohlrabe6133]

You did an absolutely fantastic job putting this video together. You are correct on every point made. Thank you. Definitely share this on all the private Facebook groups I am a part of.

[@JarradMorrow]

Glad you enjoyed it!

[@renataq00]

For some reason your video randomly popped up and so glad it did! I am so sorry to hear about your brother. Love the attitude and great advice, definitely came at a perfect time for me. Thank you!!

[@JarradMorrow]

Thank you! I'm glad you liked it!

[@stefansly1990]

I self insure my health in the meantime while paying down my vehicle. Only 29 years old and workout daily so it's a gamble for now. I have a little brother. Sorry to hear that man. You're doing great. 👍💪

[@JarradMorrow]

Thanks!

[@denobarroga]

Awesome! Totally on board with your lifestyle.

[@JarradMorrow]

Thanks!

[@t1natran]

Courageous for sharing your personal story. Thanks for sharing.

[@JarradMorrow]

Thanks for watching!

[@financialwolf]

I have to say this video was very well done Jarrad 😁 I am curious, is most of the money your saving going into the stock market or are you also saving money to buy real estate property? Maybe that could be another video, How I am saving for financial independence.

[@CrazyTxPrincess]

The Financial Wolf I’m curious as well. How much should you set aside to buy a property vs investing into a stock market

[@freakied0550]

IN4 answer.

[@JarradMorrow]

Great ideas. I’ll break down my whole thought process in a video.

[@iamjane9628]

Letting people you come in contact with be a lesson in what NOT to do with your life - I love this! I do it a lot and am glad to hear someone else say they do it, too. I am sorry to hear about the loss of your brother.

[@JarradMorrow]

Yessss, were the same 😃. Thank you!

[@TheKrystolMethod]

Im sorry for your loss.

[@JarradMorrow]

Thank you 👍🏻

[@BrokeManFinance]

"I'm not stroking anything of yours" haha, well the feeling is mutual Jarrad!!!!

[@JarradMorrow]

Haha

[@rickygarbaj]

Thanks for sharing! Sorry for your loss man.

[@JarradMorrow]

Thank you!

[@royalblue6747]

One of the realist videos ever...👍🏾

[@JarradMorrow]

I appreciate that

[@felicianogoodwin5626]

Great video! I am a new subscriber....never heard of the Diderot Effect, but, it makes total sense.

[@JarradMorrow]

Thanks! My mind blew a little bit when I heard about the Diderot Effect.

[@tessajones9393]

Omg the robe story! So I've been on a declutter journey since March after a health scare. We are feeling so good and more mindful with our toddler because of it. Yadda yadda a year ago before we moved interstate I bought a bunch of extra large wanky luxury towels. Lol Past me would have loved them. But now days we don't stand around in our towels. We rush to get ready because we have life to live lol anyways just this week I put them in a pile to donate. The space they took up in our cupboard, the space in washing machine, the water that's wasted to wash them etc etc. I just got over it. Like why? They're used for 20 seconds. Lol. But looking at them in the cupboard a year ago I wanted to cull the other stuff and follow with making everything on the level as the luxury towels. Eek haha

[@JarradMorrow]

I know, right! When I heard about the Diderot effect my mind blew a little bit because it makes so much sense.

[@nature-agt3725]

Thanks for sharing this information, it is very interesting. It is a great approach to be financially stable.

[@JarradMorrow]

Glad it was helpful!

[@jslack8973]

I can honestly admit a car salesman got me with this same BS when I traded my car in or rather let them steal my car

[@JarradMorrow]

That's happened to a ton of people so don't feel bad. Learn from it and just make sure they don't take advantage of you again in the future.

[@taekwondodad4175]

Great video ! I gotta get shit in gear, and really watch my unnecessary spending.

[@JarradMorrow]

Thank you. Yes, it's sooo important! Let me know if you have any additional questions.

[@QuesttoFIRE]

My husband and father in law both bought brand new trucks this month. (I know, I know...they don’t consult anyone when it comes to vehicles.) Guess what they both want for Christmas- seat covers. Expensive ass seat covers. 😑🤦🏻‍♀️ You’re right!

[@JarradMorrow]

Oh my gosh 😂. I guess asking for the additional purchases on holidays is a way to save money.

[@StephanieNBollinger]

What do you save your money for? For retirement, traveling, to prove a point to people... Don't get me wrong, I agree with not living above your means or not buying a lot of unnecessary materialistic things, but life is to short, to live miserably with a whole bunch of money because you don't want to spend it or to prove a point. I believe in a balance. save money and have nice things for yourself. Why does it have to be extreme either way?

[@JarradMorrow]

Thanks for sharing your opinion. Who said I'm living miserably by living on less? I'm very happy and content with how my life is operating. Balance is different for everyone. My definition of "balanced" is completely different than yours. If you can afford your "balanced life" while still being able to set enough money aside (through investing) for your later years then stick with what works for you. It just so happens that my "balanced life" is skewed more towards saving and investing a higher amount of money.

[@StephanieNBollinger]

@@JarradMorrow my apologies, maybe saying miserably wasn't the best choice of word. I agree with you that everyone's "Balance" is different. But again what are you saving or investing a lot of money, if you not going to enjoy life or spend a little in yourself while we are here on this earth. Savings for your family , your legacy?

[@JarradMorrow]

Once again, who said I'm not enjoying life? You're assuming that spending money on "things" brings me joy. It might for you, but not me because most of the time those "joys" are very short-lived. It's like an addiction- once the new shiny feeling goes away from that purchase you need to hurry up and get your fix by buying the next thing, then the next thing, then the next thing. Eventually, you'll be left with piles and piles of objects in your home, less financial security, and your happiness will only be based on what you can buy next to fill that hole inside of yourself. In psychology, they refer to this as The Hedonic Treadmill. Don't get me wrong, I still enjoy buying things, but not as much most people. I know that 90% of those impulse purchases will not add much value to my overall life. I take this into account for the vast majority of purchases outside of my normal spending like food and things like that.

[@michaelandujar8109]

Great video!!!

[@JarradMorrow]

Thank you!!

[@DominoBK]

I'm so sorry to hear of your loss. Thanks for all the inspiration!

[@JarradMorrow]

Thank you! Glad I can help!

[@freakied0550]

12 year old me: "My mom sucks, won't let me get any tattoos" 34 year old me: "I'm so glad my mom wouldn't let me get those tattoos"

[@JarradMorrow]

I know, right! I dodged soooo many awful tattoos 😂😂

[@Casrus27]

Legit!! My god, the hideous things I wanted lol

[@JarradMorrow]

Haha

[@КаролинаМаксимова-ш2н]

Jarrad Morrow -privet 🤚

[@zulemaR11]

Love the stories you tell Jarrad you're so inspirational 💖

[@JarradMorrow]

Thank you :)

[@brushofknowledge8828]

Great advise important to keep the conversation going

[@JarradMorrow]

Thanks!

[@tiffanysofranko9043]

I love your message! I wish everyone thought this way.

[@JarradMorrow]

Thanks :)

[@lorenawilliams84]

My deepest condolences.

[@JarradMorrow]

Thanks!

[@GenExDividendInvestor]

Fight Club

[@JarradMorrow]

Haha yesssss! Such a good movie!

[@Nepthu]

I'm surprised you have a dog. Pets are a major cost. I love animals but I always visit other people's dogs and cats. :) As for clothes, I get most of them at Goodwill. They look new and are a fraction of the cost.

[@JarradMorrow]

The dog I have now I inherited from my little brother when he passed away so I'd never get rid of her.

[@Nepthu]

@@JarradMorrow A dog like that is priceless. I'm very sorry to hear about your brother. I lost my parents in the last couple years. It's heartbreaking, but they always taught me how to save money. Their advice has served me well and now I want to build on the foundation instilled in me.

[@JarradMorrow]

Thanks. Sorry to hear about your loss as well.

[@dankdandy]

Jarrad I'm new to the channel I smashed the subscribe button. Question! Are you able to tell me how much id have in retirement if I put in $200 a month in an index fund Roth IRA until I'm 60? I'm 26 now

[@JarradMorrow]

If you assume a 7% rate of return then after 34 years it could be worth over $307k. Of that $307k you would have contributed $81k.

[@stephenbaughier6946]

Great video Jarrad. I looked at your site to try and find an email and to find you on FB, but could not very quickly, so I will reach out to you here. Would you be interested in participating at a weekend retreat for those on the path to FI? It is held at multiple locations throughout the country each year. If so, I am happy to tell you more about it. Thank you. Stephen

[@JarradMorrow]

You can send me a DM on Instagram @JarradMorrow

[@granitemoss1451]

Excellent video!

[@JarradMorrow]

Thank you. Did you have a favorite part?

[@jslack8973]

4:54 is everything 😂 wait also and 5:02

[@JarradMorrow]

Haha glad you liked it :)

[@jasonfbaker]

Lifestyle creep is real. Best to do is save in your 20’s and 30’s and then allow creep in your 40 and 50s. This aligns with children having good memories too. It always seems like a waste taking a baby to Disney world. They will not remember it.

[@JarradMorrow]

👍

[@johnturnerjr7221]

Fight Club, I'm not super sure you wanna start pulling quotes from this movie. The main character is literally crazy... While there are valid quotes that can be examined, he also does quite a few things that are very dangerous and should not be replicated under any circumstance.

[@JarradMorrow]

Bingo! What a great movie.

[@johnturnerjr7221]

@@JarradMorrow, yeah, it was good!

[@binbalebardac4156]

“Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don’t need.” - Tyler Durden (Fight Club)

[@georgenava5564]

How do i get the free spread sheets?

[@natemclean1773]

Hey I have a question if you wouldn’t mind answering.

[@JarradMorrow]

Sure, I'll do my best.

[@a.Janine.pretty]

You're super cute but straight up, your info is BOSS so THANK YOU!!

[@JarradMorrow]

Thank you 👍🏻

[@AceHardy]

💲🙌

[@JarradMorrow]

👍🏻💪🏻

[@truckercowboyed2638]

Oceans 11 ?

[@JarradMorrow]

Nope. Really good guess though because I could see that scene in Oceans 11. It's a clip from Fight Club.

[@rafa03333]

The message is stay low key.

[@JarradMorrow]

It's a good message.