Jamila Souffrant was talking about financial independence: “The perfect world is when you love what you do, but you can choose not to do it,” the founder and host of the podcast “Journey to Launch” told ThinkAdvisor in an interview.
Souffrant’s mission is to help people wipe out debt, save more and eventually reach financial independence.
In contrast to FIRE — Financial Independence, Retire Early — the goal of “Journey” isn’t to save enough money to retire at a young age. It’s to luxuriate in the flexibility and options that financial freedom can bring.
The enterprise, which now includes a Budget Bootcamp and the Money Launch Club, originated as a side gig in 2016 with a blog in which Souffrant chronicled her experiences on the road to financial independence.
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Next came the podcast, which this year boasts more than 2 million downloads.
In 2017, Souffrant quit her six-figure job as a real estate asset manager to focus full time on “Journey.”
At the same time, with “Journey” now their “main gig,” as she puts it, she and her husband, teacher Woody Souffrant, significantly changed their saving and investing strategies. In two years, they had saved $169,000.
In the interview, Jamila, 38, explains “Journey’s” five stages to financial independence and how people can “unlock” a wealth of options as they become better at handling their finances.
ThinkAdvisor recently interviewed the money coach, who was on the phone from Brooklyn, New York, her base. Part of this entrepreneur’s success lies in a steely resolve to go for it.
“I’m never going to deny myself opportunities,” she says. “Self-doubts are “almost nudges for me to keep going.”
Here are highlights of our interview:
THINKADVISOR: How does “Journey to Launch” differ from “FIRE — Financial Independence, Retire Early”?
JAMILA SOUFFRANT: I’m focusing on the first part of that acronym: Financial independence is the goal. The goal isn’t to retire.
On your way to financial independence, you can unlock more options because you’ll start getting better with your money. You don’t have to wait five, 10, 20, 30 years to have all the money you’ll ever need and experience that freedom.
Does financial independence mean you’re not working for someone else?
It doesn’t mean you can’t work for other people or that you can’t work ever again. It’s just having the option not to. That’s where the power lies: You can walk away from a situation.
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Source: https://www.thinkadvisor.com/2021/09/03/the-5-stages-of-financial-independence/
