Episode Number: 270

Episode 270- Retiring Early, Paying Off The Mortgage, & Having Space To Focus On Joy With Journeyer Leilani Reed-Logan

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Retiring Early, Paying Off The Mortgage, & Having Space To Focus On Joy With Journeyer Leilani Reed-Logan

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Leilani Reed-Logan 0:06

Even if I wasn't able to retire at 30, because I had long paths that road, maybe I could do certain things that weren't going to kill me, but may also allow me to retire earlier than I have claimed. So definitely was skeptical. Absolutely. When I first started listening to you, and and my friends thought I was a little crazy to with this idea. You know, there are people out there that like, stop working at 30 and they don't go back to work. And it's like, you're right. No one does that. Minus 10 seconds.

Jamila Souffrant 0:38

Welcome to the journey to launch podcast with your host jameelah. So frogs as a money expert who rocks her talk, she helps brave juniors like you get out of debt, save, invest and build real Whoa. Join her on the journey to launch to financial freedom for three.

today's podcast is brought to you by the side hustle pro podcast side hustle Pro is the first and only podcasts who spotlight bold black women entrepreneurs who have scaled from side hustle to profitable business host Michaela Matthews a co may highlights the journey of black women business owners and shares how they got started, how they marketed their businesses, how they keep their businesses growing and so much more. From figuring out what your side hustle should even be to learning how to turn it into a business side hustle Pro will breathe life into the multi passionate side hustler in you. And because the ultimate goal is money and time freedom. Hello journeyers you know, that's what we want. Learning how to start and grow a profitable side hustle is something you should be looking into as a means to get to your financial freedom goals. featured by the today show over magazine, Forbes and Apple podcasts as a top business podcast. It's a must listen. To add to your podcast list. Subscribe and check out the side hustle pro podcast on Apple podcast, Spotify, YouTube, and wherever you listen to podcast. If you want the episode show notes for this episode, go to journey to launch.com. Or click the description of wherever you're listening to this episode. In the shownotes, you'll get the transcribed version of the conversation, the links that we mentioned and so much more. Also, whether you are an OG journeyer, or brand new to the podcast, I've created a free jumpstart guide to help you on your financial freedom journey. It includes the top episodes to listen to stages to go through to reach financial freedom, resources and so much more. You can go to journey to launch.com/jumpstart to get your guide right now. Okay, let's hop into the episode.

Okay, 20 years, I'm really excited for this guest. Because she's literally just like you she is an actual journeyer. She's a longtime listener of the podcast since 2017, I believe. And she messaged me on Instagram and just was telling me about how much progress she's made with her finances or how she was able to achieve her own version of independence. And I was so inspired by her story, I knew that you just had to hear it. So welcome to the podcast. Leilani excited to be here. I just want to talk a little bit about where you were when you first heard the podcast, like I love to like kind of orient people to like kind of like the beginning of when you realize that there was this thing called financial independence that we could talk about a little bit what you've accomplished and where you are today. And then we'll get into all the juicy details.

Leilani Reed-Logan 3:48

So you're right, I actually discovered both you and I believe the fire movement in 2017. And I was in this place of just discontent with my, with all of it. Like it was just a weird place to be in at the time. And I had started I actually decided I was going through like a self proclaimed midlife crisis, I believe when I turned 40. And so when I was introduced to the fire movement, it was two years later, I was 42. And I started by finding actually a couple of podcasts that were focused on the fire movement specifically as it related to purchasing property, and also related to living a frugal life. And I knew that I didn't want to do either of those things. But this idea of the fire movement of fu money, if you will made me happy, right? And so I continued to look and read and of course it ran across a couple of books at the time, I think where there were a couple of people who had retired at 30 or 40. But in my mind, I thought that that was just a one off that that wasn't something that A lot of people are doing. And so the more I listened to these podcasts, the more I realized that people were actually doing these things. But in my mind, this was not something that black people did, right? Most of the people that I listened to were predominantly white men. But I kept listening because I was intrigued, and I somehow found you. And then when I heard your voice, I was like You shaved black, like I was looking for pictures, because I'm like, do black people do this, like that was it was just the first time that I had run across someone who looked like me that was talking about this fire movement thing. I definitely was intrigued. That's kind of where I was, you know, from, I guess, a mental state. When I first started to hear about the fire movement, I knew that I needed to do something different. I just did not know what that thing was. And so you know, the fire movement had me intrigued. And so now, fast forward, five years later, I actually was able to leave my job on my 45th birthday. One of the terms I think I picked up on your show was initially anyway, I was going to do what I was calling a mini retirement. And so I thought that I would leave for two years, and then I would figure it out. And then I jumped back in, or I figured out what I was going to do next. And now that I am two and a half years into this, I am like I'm never going back. So actually, I think out of boredom, and probably partially out of all of us going through COVID. I've started a couple of businesses, unrelated one is really related to my past career and deals with professional coaching. And then the other is actually a cocktail experience business. So I'm living my version, I guess, of fire. If 47 years old.

Jamila Souffrant 6:51

Oh my gosh, I I love it. I love it. And I just think it's beautiful. It's just kind of how I felt when I first found out about the financial independence, retire early, when with the fire movement was like this has been around like people are actually doing this. Where has this been all my life. And same experiences, you started to listen to the podcasts, read the blogs, predominantly white men learned a lot. But I was just like, oh, you know, like, I'm getting things from this. I know I can get more from this. I know, other people would get more from this. If there was just like a different perspective, like a different voice saying it. I love that we can be walking around, right like on our paths. And I think we all have this, like the hero's journey. We're all our heroes in our own life, or on our paths or on our journey. And we can continue trudging along, or maybe we're happily walking along. And there's so many other paths that we can take that we don't know, that are available that are maybe like hidden by a bush or like, but this is like this is a little glimmer, you know, like a little shiny coin. At first, it looks like dirt. You're like, Wait, what is that? But you have to let your curiosity even if you don't believe it, like no, like, that's not a coin, but you're like, you know what, I'm just gonna go see if it's a coin. You just have to kind of just try. And I feel like that's kind of what it seems like happened for you. It's what happened to me. I just love it. So I want to get into a bit how you first felt about attempting the journey because I often get people who email me or message me and they're just like, well, Jamila, that sounds all good. But like, I'm in my 40s or 50s, I'm starting late. What you're talking about is for people who are young, who are starting early, so I can't relate not for me. I'd love to talk about how you switch that mindset to feel like you could accomplish something. Yeah, absolutely.

Leilani Reed-Logan 8:35

And it's like you said it's is that a coin? Or is it not? Right? And so when I found you, I was a little skeptical, because I was raising kids that were the age of the target market that I thought that you were focusing on. So, you know, I had kids in their 20s. And so this idea, you know, really living a life where I was taught to believe that I am supposed to go to school, get a job, and actually work that job until I retire. And it's funny because I think about I started my career in banking, and I had worked for a particular bank for like six years. And I was talking to my dad, that is girl all the way. And I mentioned that I plan to leave this job. I had only been there for six years, I was very young, and he had major fit, like, there's no way you're gonna leave that job that Job has the benefits. Mind you, I really couldn't afford the health care at the time. Right. So yeah, they may have had good benefits, but they weren't benefiting me and I really didn't value retirement at the time. And then a couple years later, I actually left a bank. And he actually told my mom that he thought that I had lost my mind completely. And that we you know, they made it needed to get me checked out because there was something going on. Like that's how serious he was about moving from job to job. And so this idea of actually Being able to quit your job, like the stuff that you had worked for all of your years. And you know, at points of success, I was able to promote myself and I moved up, I made good money. And then I was actually going to like, just throw all of that away, like, What do you mean? No one does that. And so I definitely was a little skeptical. But like that coin, I kept listening. And then I realized that even while I could at least share the material with my young kids, maybe it would be beneficial for them or to, even if I wasn't able to retire at 30, because I had long paths back road, maybe I could do certain things that weren't going to kill me, but may also allow me to retire earlier than I had planned. So definitely was skeptical. Absolutely. When I first started listening to you. And my friends thought I was a little crazy to with this idea of, you know, there are people out there that like stop working at 30. And they don't go back to work. And it's like here, right? No one does that.

Jamila Souffrant 10:59

Yeah, yeah. Well, that's the thing too, like, I know, not every situation or story is going to relate completely to a person listening. But I always like to say like, I've had various people on who have achieved financial independence in different ways, right? Like through real estate, who super frugal living, like they sell everything, they're living in a van, right. And so it's just like, you get to pick and choose though, the way in which you do it. And if something is not working, or it doesn't appeal to you, I think I even had a dumpster diver. And on one of the earlier episodes, right, like, you don't have to do that. But it's just showing you like it's just expanding the mind to show you what other people are doing. And what's possible for you, if you were to apply these levers in your life. I love to kind of talk about where you were in terms of money at this point. So you talked about like, kind of having like a good corporate career, where were you in terms of your debt, and how you were managing money? I believe you're married? So like, how was that also that conversation or that the dynamic of money with you and your partner?

Leilani Reed-Logan 12:02

Yeah. So when my husband and I first started dating, he was back in 2003. And we were both divorced, we both had two young kids, that we brought along with us. And we also brought along quite a bit of debt, considering what we were making. So at the time, I think combined, we had about $50,000 worth of debt. And we probably made $50,000 combined if that. And we did that for several years. And so we didn't own property, we were renting, we had two car notes, we had the credit cards that I think I had had since I was 18, when the college people made me, you know, sign up for all of them. And so it was crawling out of that debt. And I think by getting through that, which it did take probably until it probably took about 10 years to kind of get out of it, that that piece of it. But I didn't want to go back to that. So I think when I came into this fire movement thing, I was in a place where I didn't have a lot of debt, we had some, you know, maybe some little small credit card things or whatever, we may have had a car note or something like that, but it wasn't a lot of debt. And I was making probably pretty close to $200,000 a year. And because of fear or whatever, it was probably all the wrong reasons, but it benefited me, I always had this mentality that something was going to go wrong. So either I was gonna get this job and these people weren't gonna like me. And so they were telling me to go home, or one of us were gonna leave our job, or lose our job, or someone's gonna have medical issues or something. I always had these, you know, this this fear these thoughts about from a financial standpoint, because I had people that I knew that had lost their homes, and I just couldn't imagine doing that. And so I live in this kind of state of fear. But what that did for me, is when I was able to advance and increase my income, I continue to a certain degree to live as if I didn't have it. And so I had money that I'll say, unfortunately for me, I just kind of buried away in a savings account again, you know, so I had some risk issues there as well with with investing and things of that nature. But I did save and I did stay kind of, you know, below my means of living. My husband, money's not his strong suit. That's not what he does, right. But I appreciate him because he allows me to kind of plan that, like, let that be my lane, and plan and kind of, you know, do things like that. And I think from the time that we started dating until probably about 2013 We had a debt and I would keep this little journal thing that I still have, by the way, and it was like my New Year's resolution every year we write, you know how much debt we had, what the assets were. Did we have college savings, anything that I could think about credit scores that was financial, you know, financially related, and we Sit down, and we will go through them, you know, he would listen to me, but it was like, Okay, you go do that, right, I'll just I'll make a little money I can make and then you go figure out how to what we're gonna do with it. And so by the time we had gotten to 2017, we didn't have the debt. I did have a savings account, I'm not sure how much was in it wasn't a significant amount of money, but it was more than I had, I think ever saved. So I had, you know, I think I was still calling it an emergency fund, because again, I had the whole fear, and that's the way I live. Right. And so I had that, and we did not have a lot of debt. And so then for me, it became about how can we save more money? How can we, you know, invest differently? It wasn't invest more, right? It was take the retirement stuff that we had, and do different things with it. And so that became a part of kind of our discussions around what's next.

Jamila Souffrant 15:51

Right, right. Okay. So what are the things I will do want to get back to is, you know, you said, when you first started out, like you were making maybe 50,000, maybe less, but you increase your income by the time you left your job to 200,000 Significant increase, amazing. And I feel like you said you worked in banking.

Leilani Reed-Logan 16:13

I started my career in banking, and then I shifted over into career human resources.

Jamila Souffrant 16:18

So just in terms of just like, a mini overview, what would you say, allows you to increase your income other than time, right? You had some some time in the game, right? But like, just because you're working somewhere for a long period of time, doesn't mean you earn that much more. So what would allow you to earn that much more over that time period? If someone is thinking about, you know, what I one day I in 10 years, 15 years, I want to quadruple 10x, my salary? What would you say is the ways that you did that?

Leilani Reed-Logan 16:48

So initially, back when, when I first started my career in banking, it was kind of known that and I'm not sure if it's still the same now. But you really weren't going to advance much, at least where I was if you stay with the same bank. And so I started initially, I started by I only worked for two banks. But I started by moving around in the bank that I worked, and then I actually moved to a different bank. Now, at the time, the increase probably was like $2,000, it wasn't a lot. But for me, it was a lot right at the time. And so I am always curious. And I also bore pretty easily. And so I started working at the bank as a teller. And whenever there was like, a low time or anything, I would run across the lobby and sit with one of the senior individuals, you know, like, what do you do? Show me what you do? Like, how do you do that, that allowed me in that environment, when an opportunity came available for my manager to give me a chance, because she saw that I was curious. So that was in that case, when I moved into to the other bank, I actually moved up into a manager role. That was my first like official management opportunity. And I was lucky enough to have someone take a chance on me, who knew me from banking had never worked with me, but she knew me, she actually hired me as a teller. And then now 10 years later, almost, she brought me into the organization. And she worked. She worked in human resources as well. And I think she appreciated that I was able to kind of move around because again, I get bored, I can't sit still. And so I started a career there. And I think I continued to do that. I was curious. Yes, I had, I did go back to school, I had a master's degree that actually came about because I got pissed off because I didn't get accepted to a job that I wanted as a trainer. And so it was like I'm gonna show you, you know, you're not gonna be able to tell me I'm not qualified, right. And so I went back to school. But then again, I met this, you know, a REIT, it was reintroduced to this individual who gave me an opportunity. And I think I continue to want to learn, and I continue to do like the certifications. I was active in, you know, some of the organizations I met individuals who I learned from, and when there were opportunities that came up, the biggest one being, I was asked to relocate from where I grew up, you know, new everyone, to where I am now in South Florida. And it was a lateral move at the time, there wasn't, you know, it was a very small increase, and it was a higher cost of living. But after trying to talk myself out of doing it, I decided to do it. My husband was on board, and we left. And I think that having both sponsorship and mentorship so I had people who were helped me to kind of guide me along the way and then I also had people who were willing to speak up for me in a room. It allowed me to have that opportunity. And then it just kind of continued from there. You know, but again, I was raised you got to do you know, 10 times more to even be able to sit at the table. And so I had that mentality as well, I didn't know that it was going to work out for me. It just did. And you know, I would I think that some of that is just being curious. I think some of it is luck. I think some of it is the people who you cross on your journey, I definitely think it's how you treat people. And it just worked out for me. And so those opportunities continued to come.

Jamila Souffrant 20:22

Beautiful, I love it. Thank you for sharing that. And I mean, again, it just reinforces the importance of income. I mean, apart from what allows you to increase your income, like those characteristics, and those traits and the luck, and the favor of all that like that matters. But I feel like the income side of it is so important to where that is where most people should be focusing their energy, like the expenses and understanding investments are important. That's a part of the puzzle by me, like the biggest piece of the puzzle that allows someone like you to reach their goals, someone like me who's reaching their goals is income. And it's finding ways to leverage your skill sets and to increase them in whatever market you're in whatever is your lane. So as you can earn the most, and then use that money to buy back your freedom buy your time back. So with that, now that you were earning more money, you said, you guys were in a pretty, you know, decent place when you found out about financial independence, but you weren't investing as much. So I don't know about you. But I know for me, when I first found out about financial independence, like the saving and like managing money was like, Alright, I kind of like, that's okay. But it was like almost keeping you on like a treadmill that stay still, right, like you're still in the same place. But learning about f5 financial independence and investing. That's where it's like, that's where you build wealth. Right? So what things did you change in terms of investing, that then allowed you to get your net worth up to be comfortable to end up leaving your job,

Leilani Reed-Logan 21:50

I don't believe that I knew what an index fund was, until your show. And that was something that I definitely researched. And, again, I did not invest independently. But I was fortunate enough to work for a company that had a pension, profit sharing, and 401k, which in a lot of cases is unheard of. Right. But I wasn't doing anything with it. And again, going back to the fact that I was pretty conservative, I don't think that I even allowed them to risk investing in their portfolios, right. So I was, you know, kind of conservative there. And so the index funds kind of helped with that, because I felt like it was maybe not as much of a return, but at least it was a little safer, a little bit more return than a CD, which is what I was, you know, I was accustomed to those certificate of deposits. And so I went in, and I started to adjust both my investments in retirement to some of those index funds, and also for my husband. The other thing that I did, I had a 401 K, from the time I started working, and again, you know, one of those things you do when you don't know any better, when I left my previous jobs, you know, that money ended up spinning somewhere or paying off something I don't know, I did not reinvest it. But I did have the 401 K now, and prior to getting into this whole fire mentality, I would sometimes contribute. And then sometimes I wouldn't, if there was something that I wanted to do, I would posit, I never went over the match amount. So if they match 3% of they match 6%, then that's what I contributed. That's what it that was it. And I don't think my husband actually contributed at all to his 401k. And so I actually upped my 401 K to 10% of tears to 10%. And, you know, started to do some of that. The other thing that I did, that I know I got from your show was around estate planning. And this was a little later on, this was actually the year before I decided to leave. So it was in 2019. We had a legal service through our benefits. And so of course you had to pay for it. But it definitely was cheaper than going out and hiring a lawyer and all that stuff. So I signed up for that benefit that last year and did estate planning. So that was one of the things I did not necessarily related to money in investments. But definitely something that I had heard and talk about it definitely relates back to financial kind of freedom in my mind. The other thing was my health care accounts. So we always had various plans, where you paid more per month, but your premium your premium is more or less. And so I always did that. So this idea of an HSA is kind of scared me and I didn't necessarily want to do that. You know, I had young children and my husband had had some some medical stuff. And so it was kind of like, No, I'm gonna stay with the safe stuff so that we don't have to pay all this money out of pocket. But I did eventually shift over to an HSA. And so when I left I was able to take that money with me as well. And and also invest some of that as well. You know, there were a lot of things that were you know, financial small steps for me, you know, and again And to because I was making really more money than I needed, right? Like, I wasn't spinning it, I was throwing it into into a savings account. I actually started to like, dump it in my house. So when I first actually, before we relocated here, just to give you numbers, like, the first house we bought was like $86,000. And it was 1500 square foot brick home, I had a nice yard, you know, not in the best neighborhood. But it wasn't in the worst either, right. And I love my little house, and it was $86,000 and I refinanced a little house and my little mortgage was like 800, and something dollars and my property taxes like 500 bucks, like it was ridiculous. So then when the relocation thing happened, and we moved here, I remember meeting with my real estate lady, and I was like, my budget is $100,000. That's it. And she was like, Honey, I don't know what you think you're gonna get $100,000. But that's not gonna work here. So the house that we ended up buying was right at $215,000. And I mind you, I think my income at the time, they had been around 60, they told me that I could afford like a $500,000 house. I was like, There's no way I'm doing that. My husband had quit his job. And so we didn't know how long it was going to take him to recover. So it's kind of like, yeah, no, I'm gonna get out of this $250,000 house scared me. But whatever we're doing it. So we did the house. And then it was like, I can't have a 30 year mortgage, because that means I'm gonna have to work for 30 more years. And so what did I do, and I started to pay principal payments towards the mortgage. And if there were bonus checks, or overtime, or whatever it was, it went towards paying off that mortgage. So that was another thing that I think I started to do from a financial space. After listening in 2017.

Jamila Souffrant 26:50

Wow, so many amazing changes. Now, I want to just give people some episode numbers to go listen to so episode 141. I did an episode with JL Collins, we talk about index funds, if you want to listen and learn about that. And then episode 40 was all about HSA. So the health savings account. So check that out if you just need more episodes to dive in on and I'll put those in the show notes. I want to clarify, right now, do you have a mortgage? Or did you pay that all off?

Leilani Reed-Logan 27:24

I paid it off. Amazing. So I actually I quit my job in February. And I think by July or August, I just paid the house off. I think initially I had planned to just continue to make the mortgage payment payments, because again, I was gonna go back to work. And two years I was doing the mini retirement that you talked about on your podcast, that was my thing. And so I continue to pay the money on my will I'm taking money out of the savings account to pay the mortgage, I'm still earning it, you know, gaining interest on it, I have the money sitting in the account to pay it. So why don't I just pay it off. And I want to say it may have been about 120 out of $25,000 and pay it off. So we have no mortgage, their house was paid off in eight years.

Jamila Souffrant 28:07

Amazing. So okay, I want to kind of go back to your mind set or your intentions. You said at first you thought about doing a mini retirement. So you're only gonna take a short amount of time off. What are we going to do for that time? Was it that, okay, I don't need to work, the mortgage will be paid off. And I'll figure it out in two years. And then how did your plans change from I'm not doing two years, like I'm gonna make this permanent.

Leilani Reed-Logan 28:31

So initially, I think that I was going to take the two years off to take a break, I had no intention of working. I think I think a couple of times, there were some things that had come up while I'm like, Okay, well, maybe I can teach part time, you know, something that I enjoy doing, I was willing to do on a limited basis. But as far as working a full time job, I had no intention to do that I needed to decompress. And I started with one year. And then I said two years. And that was my timeframe. And so at that time, I had not paid off the house. And at first I had like this five or seven year plan. And I would write these things down every day. And I'm doing calculations on all of the money and all of the stuff in the mortgage, how much is left, and you know, calculating, like how I can dump like bonus checks and things like that, that I haven't even earned yet on this mortgage to get rid of it. And the goal was to actually leave my job and do the two years once I paid the mortgage off. But that wasn't happening fast enough. And so my seven year plan turned into a five year plan to a three year plan. And next thing I know it was a year and a half and I'm like you know, but I have to do something different. So that's where the two years came. I had not paid the house off. I was just gonna pull the money that I had from the savings account. And I will give myself like an allowance every month. And that allowed really me to maintain kind of the lifestyle that we had created. And that was the plan. And so once I left and I started kind of dabbling in these possibilities Then I had people coming to me, asking me if I wanted to do certain things. And then, you know, just the horror of COVID. And everything that was changing, I think it helped to shift very early some of my thoughts like, Why do I have to go back to that? What could I do? To not have to go back to that? You know, I started to kind of calculate, you know, based on what I had saved, like, how long would this money take me right? What amount of money we need to live on in order for it to last for as long as I can make it last, like that was just the way that I was thinking. And so I just decided that I was going to just the thing about it, too, I think really has to do with the limiting mindset, you know, you were talking about, you know, expanding the money. And for me, I never thought that I would make $100,000, let alone $200,000. So there were these limiting beliefs and this fear and these thoughts that I would tell myself, and I think that that's cute, that carried on, and I left my job. But yet I have this my son, who is a millennial, actually, he may be whatever comes out in the millennium. You know, he was saying, Well, why do you have to do it that way? And my response would be like, because that's the way you're supposed to do it. Right? But it's it made me start to change, why do I have to go back into a corporate environment? Why can't I take some of these opportunities, although I never see myself as like an entrepreneur? It's kind of like, well, I mean, I know the stuff, I know how to do the work. That's what I was being paid to do in my company. So if I have people coming to me asking me to do some of this stuff, then why not try it? And let's just see what happens. And shifting my mindset to say, well, you are marketable, you can find a job, even if you had to go to Target and push the cards right, you could find a job to do to make money and bring an income. And I think once I realized that I didn't have to worry about health insurance because my husband still work. So we had that. And that I could I was marketable enough to actually go and get a job if it came to a point where I had to. And so that really changed the way I looked at kind of the space that I set in at that moment.

Jamila Souffrant 32:00

Yes, and don't you love like, I mean, my kids are a lot younger than yours. But I think in general, just a thought occurred to me, like if you want to know like, if you have a fixed mindset about something, I feel like present that to like a child, or see when a child like does with something really mundane, that you're already, like a paperclip that you have established is just a paperclip. And at a certain age that it's like a million things to them, other than just the paperclip. It's a weapon. It's an airplane. It's like all these things, right. And as we get older, we lose creativity. While they say like sometimes the people who are doing the most amazing thing, sometimes they're almost naive or ignorant to the limits, because they don't even know so they just try it because it's just like, why not like, so with kids? Like, oftentimes I'll see my kids doing something. I'm like, why are you doing it that way? And like, like, I'll see them put on a shirt, like we're not going anywhere. And they'll put on a shirt, a new shirt, and like, You're not going anywhere why you put it on, because I like it, I want it. And part of me just like my adults, Igor self is like that's wasteful, put it back until we go out. And I'm like, No, that's your saver, kind of like conservative mindset, the charlatans living their best life, they don't care, no one's gonna see them in it. They are living their life in this shirt, in the couch all day, they just want to be in it. Right? So I just feel like that new perspective. Like, I think it's if you have people like that in your life, children, young adults who sometimes you think like they're not thinking clearly, sometimes they're thinking, more creative than we can imagine it would be helpful for us as older people to kind of like, look at them and mirror that.

Leilani Reed-Logan 33:33

It's so funny that you said that about the clothes because I think about you know, we work and we buy these things. And then oftentimes we reserve them for special occasions. I think about my parents china cabinet, you know, the timeout only comes out on holidays. And when I lost my job, I'm like, You know what, I'm going to use the China I'm going to burn the candle, I'm going to do the stuff What am I saving it for, you know, I spent money for, you know, for AI because I liked it, it brought me joy, which actually was one of I think your podcast as well. It's a little different. I didn't do it the way they talked about it. But the whole thing about, you know, you go around the house, you touch them and it makes you happy you keep it and if it doesn't, you get rid of it. I don't remember the name of it, but it's a thing. But I did adopt this whole like kind of mindset of what makes me happy. And if it doesn't make me happy, then I don't want to do it. I don't care if it's a thing if it's a person, if it whatever it is, doesn't make me happy. And it really even from a financial standpoint helped me decide what I bought. So if I went into a store and I picked up a dress and you know, I looked at the dress and I was like this made me happy and if it did, I bought it if it did not put it back. And that became you know, even with people I mean I literally did a Facebook thing where I went onto my Facebook account and I actually pulled up every friend that was on my Facebook account at their face brought back a positive memory for me, I kept them and if I found I deleted them and it really just opened up a space and I still do it and it's so funny because people around me now I will hear them say that doesn't make me happy right but Really, I needed that, like that boundary in that space. And I know we're talking about financial stuff. But these are still other things that came from your podcast that made me think as your kids with a different perspective of saying, Okay, well, why can't I wear this shirt? I like it, it makes me happy. Right? So I definitely can relate to that.

Jamila Souffrant 35:19

Yes, yes. Love it. And you have older kids. And it sounds like you're always financially aware, and paying off debt over time. And even like, you know, increasing your income, but you also had kids, right. And so I think one of the other things is like, how do you do this with children? Even if they're like, adult, young adult children, right, like, you still feel responsible in some ways, for some things, especially if they're still living at home. So like, how did you navigate balancing kind of like, what you did for your kids, how much you spent on them, versus what you were doing for yourself and making sure you were okay.

Leilani Reed-Logan 35:53

That's funny. You say that? Because you have what? three small kids? Yeah, yeah. No, I was like, now she's a badass, because there's no way that I can do that, you know, I see people and I've now yet since met met people with very small kids that actually quit their job and travel the world. I'm like, How was that possible? The fortunate thing, you know, in some, I guess, would say unfortunate thing for us, is that we had kids young, I had my son when I was 21 years old. You know, I was a single mom for 10 years. And so I think that, unfortunately, probably for him, he was kind of accustomed to McDonald's being, you know, a special occasion, right? Or not necessarily wanting like the name brand stuff, he doesn't see mommy wear it. And so he never really had a desire to want it either. Still, to this day, thank goodness, he's still that way. And don't get me wrong, because you know, a guy to talk about privilege from the standpoint of my parents, both high school graduates worked two jobs for most of my life. And so they wanted me to go to the predominantly white private schools, and they wanted me to have the things that they didn't have, they bought me my first car, right. So I had, I was able to move back into the house with them and my son, once I had accumulated all this debt, so there definitely was some privilege there. That helped me. But for years, I did my own hair, I did my own pedicures and manicures. Definitely were things that I spent money on. You know, without even having my doesn't make me happy mentality. I guess to a certain degree, I did it, because vacations were non negotiable for me. And so I made a way regardless of where we were, from a debt standpoint, we were going to take one trip every year. And so my husband and I decided to set aside I think it was like, $50 a paycheck or something crazy. It's like 1200 bucks, 15, you know, a year that we had, instead, we took that trip, that was the one thing that I was going to do regardless, if it was a road trip, you know, whatever, it didn't matter, I just had to get away. So that was a non negotiable for me. With my sons, it's almost like, I don't know if they ever went without because when there were opportunities where I can do things, and even when my husband got together, we could do things that benefited them and not us. And we did that. And I think about when I had my son, initially, my first two apartments were one bedroom apartments, because that was all I could afford. So he had the bedroom, and I slept on a pullout sofa. So he didn't go without he didn't miss he didn't know that there was that there was a one bedroom, he didn't care. He's like two or three or something. Those types of things were just, they just continued throughout. And, you know, they both have worked. At some point. Mine just depends on the day. But they work jobs themselves. And they bought things that they that they wanted. I never had allowances or anything like that for them. You know, we celebrate the holidays and birthdays and things like that they didn't they got pretty much what they wanted as long as they did well in school or whatever. But we just didn't spend a lot of money on stuff that didn't matter. I guess you can say.

Jamila Souffrant 38:55

Yeah, I'm wondering for them if do you feel like the way you handled money and what you're doing now? Like what they're watching you do now like do you see that impacting that the way they handle money? Do they have totally different money personalities? Or, as I'm it rubbed off on them where you're like, wow, like the fact that was doing all this, like it's rubbing off on them. They're doing this work to this early on.

Leilani Reed-Logan 39:19

So my son, to this day, like we just had this conversation not long ago, where I told him I said you need to get a credit card, because you need to establish your credit because mommy's not co signing for anything, right? And so when you are ready to move out again, I need for you to be able to get this apartment or whatever you're going to get on your own. So you need to get credit card. He refuses to get the credit card. I'm not ready for a credit card. I don't need a credit card. I don't need that. And I'm like, Okay, I appreciate that to some degree, but you need to do it. Right. There are reasons why. That's that one. So my stepson actually started off wanting to not necessarily go to college and if he did go to college, he really wanted to stay kind of in kind of what types of jobs he has seen people with I have to do. And so he has now graduated from college. He's an engineer. And he's making very decent money. And so he's always been one that did take risks and research and play in investments and things like that. He has this big thing now in his house because he's married with a three year old. And he has his big thing now in the house. That is that's doing something with like cryptocurrency, and I'm like, what is it? You know? So his mentality has always been, how do I make extra money? Not that he spends it on, you know, things that he would consider to be fruitless, but it's almost like, I think he is on this in this mindset of I don't necessarily want to do this for the rest of my life. So whatever I can do to kind of secure financially, my future and my son's, then that's what I want to do. So yeah, some of it, you know, I don't think that I would have ever given myself credit for it. But I think some of it has probably rubbed

Jamila Souffrant 40:55

off. That's great. And, you know, I want to talk a little bit about what you're doing. Now, like you said, you have your businesses, you never thought you'd be an entrepreneur. But look at you now. So how's that going for you? Like, how hard is it to earn money as an entrepreneur? I don't want to like put it in a negative frame. Maybe it's easy, maybe money flows to you in that way. But what is it like now not working for anyone else? Being in control of your own schedule? Maybe the better question is, is this break? Or is this freedom, everything you thought it would be when you were looking forward to it?

Leilani Reed-Logan 41:27

Yeah, I don't think that I thought it would be this. My husband actually has made this comment to me several times over the last couple of years about having his wife back. Like he feels like he hasn't been back. And you know, the few times that I did, like, entertain these potential offers that were coming that took me back into the corporate space. He was like, No, I like you like this, you know, so I need you to stay like that, right. And I feel like the things that I had kind of taken for granted the relationship, the friendships that I've had, for years, some of them, I only, I guess, allowed to be surface level, because I've learned things about my friends that I've known for years, that I didn't know, right, like it's so it's reconnecting and actually really being present and being there and listening and learning that that is like just invaluable. And then, you know, the business, I think my mindset has been, and still is, and probably will continue to be, I don't have a desire to like Empire build at this point in my life, right? I don't have small kids, I don't have people that I'm responsible for, really, at this point in my life. And so it really is more about doing more of the things that I enjoy, and just so happens that those things could generate income. So the bartending thing was interesting for me, because that was one of the things that I wanted to do. When I quit my job. I wanted to go to bartending school, why I was always the person behind the bar, I would do parties and stuff for people for free. I enjoyed that. I'd rather be behind the barn and doing the small talk stuff because I had to do small talk stuff at work. I didn't want to do more of that. And so I had people saying to me, Well, why don't you think about doing that as a business, you know, you can do that as a business. And I just kind of shook it off, like, whatever. And so one day, I did a tasting at someone's house. And it was just because we weren't getting together. And I had a stranger say to me, you need to do this as a business, like I would hire you to come do it, like could you do it for me. And that just kind of took off from there. And so I was like, I don't like a lot of the social media stuff. So I'm not good with the posting. And, you know, I don't want to be an influencer or any of that stuff, right? I just want to stay in my place and do the stuff that makes me happy. The same thing for the coaching thing and this is something that I probably could give, you know, the fire movement credit for as well because I know you talked a lot about just similar to the estate planning, there are things that your company offers you then get them while you're there. Why not? They're there, they're there for you there are benefits do use the benefits, you may have said it's something like that actually. But one of the things that I did because I always went and did these certifications on these conferences, if you will, that they would pay for us to go to and so I shifted the conferences to certifications one of which was a coaching certification because that was something that I I thought kind of came naturally I've always enjoyed doing it I just never had been officially a formally trained and so while there I launched into this coaching certification, they pay for it. They're still benefiting from from it because they've actually hired me to come back and do some facilitating with their leaders. And you know, I've been doing that now for almost a year virtually which I love. Because I don't have to you know, go in and see the people and do the stuff I could just get on do my thing and get out right. So it really is a beautiful thing and then bringing that in with things like I've read Nice butterflies, and having a time to spend with that and sitting outside and listen to the birds. And like you said, having your own schedule, being able to say no, and not feel bad about it, being able to kind of take the risks and try to thing was, you know, without the judgment, it is a beautiful thing.

Jamila Souffrant 45:17

Oh my gosh, I'm smiling so hard right now, because you just like icing on the cake raising butterflies like, can you imagine that, like close your eyes? Everyone's like, Oh, beautiful. That is like, I'm so happy for you. And I'm so glad that you were able to come on and share more of your story. I feel like it's so inspiring. And testament to being curious. And I always say if you have a thought, like if you have a desire about something, even if you don't think you can do it, like there's a reason or you desire that just following sometimes you see immediate steps in front of you not maybe you don't know the whole path. And it sounds like that's what you've been doing. So like last question, I would love to know where you are on the financial independence journey. You know, I like to say like the five stages like this is the first stage, the Explorer stage, you're just like finally getting to like, you know, stability, the cadet stage, you're getting out of debt. So you becoming debt free. The Aviator stage, you're building your assets up. And then the commander stage, which is the work flexible stage where you can choose what you want to do for work, doesn't mean you never have to bring another intolerant. But take your time, and take breaks. And then finally the captain stage or financial independence stage like you're done. If you want to play with your butterflies all day. That's all you have to do. So where are you currently on that spectrum? And where do you see yourself in a couple of years

Leilani Reed-Logan 46:37

to keep my mental sanity and deal with like some of the fears and things that I talked about? I would say that I am in the flexible work stage. So there definitely is flexibility there. I don't necessarily have to work now. But I think in my mind, it's like, well, if there are opportunities out there now, then why not do it now, especially if I could do it on my own terms. So I would say that I'm there. And then, you know, I think for me, you know, that final like take flight stage really would be the ability to just travel full time. That's what I would love to do. But again, I have you know, these fears that I deal with around medical insurance, for example, you know, what do we do if we're older, and we don't have medical insurance, like that's a fear, like, I have to kind of work my way through that. Before I you know, able to decide I want to risk actually by telling my husband, okay, you quit too, and then we're gonna go right. But that's, that's kind of where I am now. And so it's definitely still, you know, being curious and still seeing what's out there, we have actually talked about the idea of possibly purchasing property, so that we have kind of this passive income going into, I guess what we would say would be our real retirement. But right now, it's kind of good. So I could sit in this space, you know, for a few years and just see kind of where it takes me

Jamila Souffrant 48:02

off. Beautiful. Okay, Leilani I know you said you're not like great with the Instagram, but um, you do have a couple of businesses. So if you want to share maybe about like the businesses where people can find you.

Leilani Reed-Logan 48:13

So the console business right now on Instagram is twist, mix, sip. So it's Twist, twist that mix that sip. And then as far as the coaching business I am and going through this process of doing the websites and things now is doesn't make me happy, but I know I need to so I'm gonna do it. So for now, it really is LinkedIn. And so you can find me at Leilani Reed, hyphen, logon on LinkedIn, and then the website and all those things around that will come hopefully pretty soon. All right,

Jamila Souffrant 48:46

well, I will try to link all of that in the show notes. And if you enjoyed this conversation with myself, well I need let us know, tag me take a screenshot of it of you listening your feedback, and tag me on Instagram, I'll make sure to tag Leilani if you didn't, but I I want her to see how much of an impact that her story is going to have on you guys. So again, thank you so much for coming on and sharing your story. Don't forget, you can get the episode show notes for this episode by going to journey to launch.com or click the description of wherever you're listening to this. And you can still grab your jumpstart guide for free to help you on your journey to financial freedom by going to journey to launch.com/jumpstart.

If you want to support me and the podcast and love the free content and information that you get here, here are four ways that you can support me in the show. One, make sure you're subscribed to the podcast wherever you listen, whether that's Apple podcasts, that purple app on your phone, your Android device, YouTube, Spotify, wherever it is that you happen to listen, just subscribe so you're not missing an episode. And if you're happening to listen to this and Apple podcasts, rate review and subscribe there. I appreciate and read every single review number to follow me on my social media account. I'm at journey to launch on Facebook, Instagram and Twitter. And I love love love interacting with journeys. They're three support and check out the sponsors of this show. If you hear something that interests you, sponsors are the main ways we keep the podcast lights on here. So show them some love for supporting your girl for and last but not least, share this episode this podcast with a friend or family member or co worker so that we can spread the message of Journey to launch. Alright, that's it until next week, keep on journeying journeyers

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Leilani Reed-Logan, Journeyer and financial independence (FI) enthusiast, joins the podcast to discuss how Journey To Launch changed her life and why she is choosing happiness above all else, thanks to her newfound financial freedom at age 45.

We talk about why Leilani decided to set out on the path to FI, despite being “older,” the lessons she learned from listening to this podcast, and how COVID became the catalyst for her to walk away from corporate America forever.

In this episode we discuss:

  • Why Leilani stepped away from a $200,000 per year salary job 
  • Choosing what sparks joy in your life over everything else
  • The ways financial independence changed Leilani’s life 
  • Steps Leilani took to pay off her mortgage early
  • How you can increase your career income + more 

Episode 270- Retiring Early, Paying Off The Mortgage, & Having Space To Focus On Joy With Journeyer Leilani Reed-Logan Click To Tweet

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