Fit Rich Life | Justin David Carl | Episode 520

ChooseFI

Brad Barrett | Choose FI Media

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

4.8 • 5K Ratings

🗓️ 11 November 2024

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Justin David Carl shares his remarkable journey from being $80,000 in debt and working in Hollywood nightlife to achieving financial independence and impressive fitness goals. He discusses key principles that guided his transformation, including the importance of environment, community, accountability, tracking metrics, and embracing a growth mindset.

Key Topics and Takeaways

Justin's Awakening Moment
- Discovering financial independence through Mr. Money Mustache and ChooseFI. Justin shares his early struggles with debt and the turning point that launched his journey.
Overcoming Debt and Personal Challenges
- Justin candidly discusses his past, including addiction and the shame spiral from unresolved financial issues. He emphasizes that confronting these struggles was key to his transformation.
- "Depression can serve as a reset for your psyche."
The Role of Coaches in Growth
- The impact of hiring coaches for guidance in both fitness and financial success.
Tracking as a Tool for Success
- Justin emphasizes the importance of tracking both financial metrics (expenses, savings rate) and fitness metrics (nutrition, workouts).
- Key Quote: "What gets measured gets managed."
- "Boost your savings rate to build wealth faster."
Principles for Continuous Growth
- Justin shares three core principles:
  1. You are the average of the five to ten people you spend the most time with.
  2. You are a product of your environment.
  3. You are what you consume.
- Action Item: Evaluate your current environment and the people you are spending your time with.

Additional Resources

Fit Rich Life Coaching: fitrichlifecoaching.com
Savings Rate Tracker: fitrichlifecoaching.com/tracker
Workout Program: fitrichlifecoaching.com/workout

Tim Ferris Article on Mr Money Mustache The Shockingly Simple Math of Early Retirement

Follow Justin on Instagram: @JustinDavidCarl

"It's never too late for a second chance."
"Your consumption shapes who you are."

Discussion Questions

How can tracking financial habits influence our spending?
What strategies can we implement from a growth mindset perspective?

Transcript

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0:00.0	Hello and welcome to Choose FI. Today in the show, we have my good friend Justin David Carl.
0:05.6	He is the founder of fit rich life and he is really a jack of all trades. And I'm just so
0:12.0	interested and intrigued by Justin's transformation that really has been over his entire adult
0:18.3	life, both with money and with fitness, and that these principles
0:23.3	translate, actually, from one to another. Justin has gone from working in the Hollywood nightlife
0:29.0	business, throwing the hottest A-list parties in Hollywood and struggling with addiction and other
0:36.6	darkness to finding FI and essentially supercharging his entire
0:42.3	life. And it's really been a radical transformation. And I think you're both going to enjoy
0:46.7	his story and the absolutely incredible actionable takeaways that he has. This is going to be
0:51.9	a really good one. And with that, welcome to choose that bye. Justin, it is so good to see you. This is awesome. We've caught up
1:06.0	a couple times of the last couple years, but it's been a while. Yeah, it's such a pleasure to be
1:10.6	on the show, Brad.
1:11.6	I just have to take a moment to pay homage to ChooseFI because ChooseFI really played a massive role
1:20.2	in my financial independence journey. It was literally the first Financial Independence podcast
1:26.2	that I started listening to at the end of
1:29.1	2017, a few months or several months after you had started the show. And I was like, oh my God,
1:35.5	like I found a podcast that is teaching me the fundamentals of financial independence.
1:41.5	It's providing the energy and the inspiration to get going on this journey
1:46.1	and stay on the journey. And literally every week, part of my like money makeover was making sure I was
1:53.8	fully caught up on choose FI. So I just want to deeply thank you, Brad and Jonathan and everyone
1:59.8	behind the Choose FI podcast because it's just impacted my
2:04.1	life in such a huge and incredible way that like I'm just so deeply and forever grateful for your show.
	...

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