Navigating Financial Independence as Active Military with Coach Ty | Ep. 320

Money Talk With Tiff

In this enlightening episode of Money Talk with Tiff, Tiffany Grant welcomes Coach Ty, host of the Little Steps Big Moves podcast. The two dive deep into Coach Ty’s unique journey towards financial independence while actively serving in the military.

They discuss various strategies and philosophies around financial independence, including concepts like CoastFI and LeanFI, and the impact of real estate investment.

About Our Guest

An educator by a purpose-filled calling, she taught and coached in the public education system until called to Active Duty in 2003.

She continues to educate and coach today but in an evolved way.

Ty mentors women and speaks about real estate, leadership, and entrepreneurship. In 2022, she launched a podcast, Tiny Steps, Big Moves, highlighting the inspirational stories of women who have career-pivoted in life. In late 2023, she launched her website coachtyinspires.com, centered around the theme Live your Best Life 2.0, encouraging women to set goals and outcomes, remove the limits, and unleash their greatness. Additionally, she is the founder of Renaissance Properties of the Carolinas, a licensed realtor in NC, and a real estate investor in the southeast.

Connect with Coach Ty

Connect on LinkedIn: Tianika "Ty" Mangum

Connect with Tiffany

Website: https://www.moneytalkwitht.com

Facebook: Money Talk With Tiff

Twitter: @moneytalkwitht

Instagram: @moneytalkwitht

LinkedIn: Tiffany Grant

YouTube: Money Talk With Tiff

Pinterest: @moneytalkwitht

TikTok: @moneytalkwitht

Timestamps

[00:00] Transitioning to coastal financial independence from military.

[06:01] New military member finds financial independence path.

[09:54] Budgeting, tracking, and understanding spending habits.

[12:42] Plan expenses, increase savings, supplement income sources.

[14:09] Real estate as primary investment for retirement.

[19:02] Embracing community and personal growth while advancing.

[21:14] Podcast features women sharing career pivot stories.

Key Points

• Introduction to Financial Independence (FI) in the Military Context: Coach Ty shares her approach to achieving financial independence through her military career, emphasizing the similarities and unique aspects of FI in active duty compared to civilian FI strategies.
• Understanding FI Terminology:

CoastFI: Described by Coach Ty as a more relaxed approach where one still maintains financial independence but continues to work, allowing for a gradual progression towards full FI.

LeanFI (Real LeanFI): Coach Ty’s strategy focusing on covering basic living expenses through investments, setting a foundation before progressing towards more comprehensive financial goals.

• Personal Journey and Motivation: Coach Ty elaborates on her background and the personal motivations driving her pursuit of FI, including lifestyle considerations and the desire to enjoy her journey without compromising her future financial security.
• Strategic Planning and Adjustments: Insights into how Coach Ty planned her FI journey, including setting realistic goals, adjusting her FI number based on changing life circumstances, and the importance of tracking expenses and investments.
• Role of Real Estate in Achieving FI: Coach Ty discusses why she chose real estate as a significant component of her investment strategy and how it fits into her broader financial plans for the future.
• Community and Support Systems: The importance of surrounding oneself with like-minded individuals and leveraging community resources to facilitate personal and financial growth.
• Tiny Steps Big Moves Podcast: Coach Ty talks about her own podcast where she hosts discussions with women about their career pivots and life transitions, emphasizing financial narratives and empowerment.

Additional Links & Resources

• Money in the Military with Janeil Pierre | Ep. 17
• Active Duty Military Debt Payoff with Joe Driscoll | Ep. 28

Call to Action

Listeners are encouraged to explore their own paths to financial independence, utilizing the principles discussed in the episode as a guide. Engage with the community, track your financial progress, and consider diverse investment strategies to pave your own way towards financial freedom.

Join Tiffany Grant again next week for another insightful episode of Money Talk with Tiff, where money strategies and practical insights continue to empower you to take control of your financial future.

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