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ChooseFI

506 | ProjectionLab | Kyle Nolan

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 26 August 2024

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: entrepreneurship, side hustles, overcoming fear, community, sharing and maintaining passion projects.

This week we are joined by Kyle Nolan, creator and founder of ProjectionLab, where we will be discussing how he left his 9 to 5 to pursue a passion project, some of the challenges and realizations he’s faced while creating his software, as well as the importance of investing in your interests regardless of the risk or self-doubt you may feel. The journey to FI offers many things, such as freedom and autonomy to pursue new things, but it’s important to remember that you don’t have to wait until you reach FI to start investing in things that are of value to you! By pouring yourself into something that interests you will always guarantee a payback!

🔑 Key Themes Discussed:

  • Kyle’s journey from traditional employment to entrepreneurship.
  • The development and impact of ProjectionLab in the FI community.
  • The role of personal passion in creating and growing a side hustle.
  • Overcoming fear and indecision when launching a new venture.
  • The importance of a supportive community in achieving financial independence.

🕒 Chapters:

  • Introduction to Kyle Nolan and ProjectionLab
  • Kyle’s background and the start of his FI journey
  • The motivation behind creating ProjectionLab
  • The challenges and rewards of entrepreneurship
  • The pivotal moment of launching ProjectionLab on Hacker News
  • The significance of mental headspace in pursuing side projects
  • Brad’s reflections on proof of concept and personal finance journey
  • How to encourage children to explore their passions in technology

Transcript

Click on a timestamp to play from that location

0:00.0

Hey this is Brad. I wanted to jump in real quick with an update before we get started with the episode.

0:04.8

Two of my top three Traveler Awards Credit Cards right now are at what I believe to be their all time high bonuses.

0:11.7

So if you have a small business and you've been looking for a credit card,

0:16.2

the Inc. Business Preferred Card has the best bonus I've ever seen. So as I'm recording this on August 11th 2024 it has a 120,000 point bonus offer

0:26.3

after you spend 8,000 dollars in the first three months there is a 95 dollar annual fee and

0:31.2

for personal cards the Capital One venture card also has the best

0:36.4

bonus I've ever seen so it's a 75,000 mile bonus when you spend $4,000 in the

0:41.3

first three months but now Capital One is offering a $250 travel

0:46.4

credit in your first year that you have the card. So those points are actually similar

0:51.2

to the chase points that you get with Inc.

0:53.2

Business Preferred, these Capital One Venture Miles are now

0:56.9

transferable points.

0:58.6

So this is an incredibly, incredibly valuable offer. If you want to find more information about this go to

1:04.8

choose-of-I.com and on our travel rewards page you'll see my top 10

1:09.4

recommended travel cards these are number two and number three right now and when you use our

1:14.4

links to sign up for credit cards we do receive an affiliate commission so thank you for

1:18.7

your support it really means the world to us and now let's get on with the show.

1:23.0

Hello and welcome to ChooseFI.

1:26.0

Today on the show we have Kyle Nolan who's the founder of Projection Lab

1:30.0

which is an incredible new piece of modeling software that I've heard multiple of my closest friends talk about.

1:37.7

People like Brandon, the Mad Fianists, Chris Hutchins, people that I really trust and it just got on my radar, Kyle and I got connected, and his story is incredible.

1:48.0

It is such an interesting mix of FI and entrepreneurship entrepreneurship and I know I deeply resonate with it because it

...

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