Welcome to a new episode of Latinos who tech, my name is Hugo Castellanos.
This a podcast about the stories of latinos working in the tech industry and tools to help you take your career to the next level.
In this episode we explore the FIRE Movement (Financial Independence, Retire Early) and what does it mean to retire before 40.
I spoke with my friend Lennis Perez, a chemical engineer and speaker that achieved financial independence after working 16 years in the industry.
The kicker: she achieved it while making less than six figures a year.
Imagine how fast you could do it with a six figure tech job?
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Hugo Castellanos https://www.linkedin.com/in/hugocastellanos/
Lennis Perez https://www.linkedin.com/in/lennis-perez/
and check out her website at https://lennisperez.com/
📧 Feel free to say hello via hello(at)latinoswhotech(period)com
0:00 – Intro
9:48 – Icebreaker
11:56 – Tell us about yourself and working in Chemical Engineering
16:36 – Breaking away from the 9-5 mentality
17:25 – What is FIRE anyway?
20:18 – The 4% rule : How much money do you actually need?
23:48 – Doing FIRE is like building your own pension
25:20 – 401k and 401k matching
30:38 – How tech workers get paid. Cash + Stock
31:40 – Did you have to do any lifestyle changes? aka – Prenups are not only for rich people
32:07 – Divorce and how it can affect your Financial Independence plan
34:30 – Moving to a different state can be a great move to accelerate FIRE
35:30 – How to calculate your FIRE number
40:27 – Financial Independence WITHOUT retiring early
41:00 – Living a full life at 3K a month
43:00 – Financial Literacy
45:00 – Why Hugo pursued FIRE
47:00 – Burnout and pursuing FIRE to avoid it
51:31 – Unlimited PTO is a SCAM
54:00 – Different kinds of FIRE: CoastFIRE, FatFIRE, LeanFIRE, Regular FIRE
55:46 – 2 sides of FI Podcast
59:00 – Lennis reinvention as a Wellness Engineer
1:11:00 – Breaking away from 9-5 mentality and immigrant guilt
1:15:00 Becoming a money archetype coach and making sense of IRAs, 401ks and brokerage accounts
## Resources we mentioned:
Mister Money Mustache Blog:
Rich, Broke, Dead calculator
Rich, Broke or Dead? Post-Retirement FIRE Calculator: Visualizing Early Retirement Success and Longevity Risk
Ramit Sethi – I will teach you to be rich https://www.amazon.com/Will-Teach-You-Rich-Second-dp-1523505745/dp/1523505745/ref=dp_ob_title_bk