Episode 64

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Published on:

6th Jun 2022

Reaching Financial Independence Without a 6-Figure Salary | E64 Jackie Cummings Koski

You all know I’m a sucker for a good early retirement story. Jackie Cummings Koski retired at 49 years old and now spends her time creating a financially literate society.

 

Retiring in your 40s is impressive in itself but Jackie did this with no head start. She grew up in poverty with her dad and 5 siblings. She barely graduated college with passing grades because she had to work full-time. Then Jackie went on to raise her daughter as a single mom after an early divorce.

 

Does that sound like a candidate for early retirement? I don’t think so but Jackie made it happen through a lot of self-education and hustle.

 

Speaking of education, Jackie became quite the expert in healthcare and in this episode, Jackie shares a lot of methodologies for cutting your healthcare costs.

 

Of course Jackie is a huge advocate for my favorite tax-advantage account: the HSA. I have never seen a health savings account as well-funded as Jackie’s. Last we spoke, her HSA had over $150,000 in it..

 

Show Notes:

[1:43] Jackie’s story from poverty to financial independence

[19:40] How Jackie retired by 49 year olds without ever making a 6-figure salary

[22:57] Is an HSA right for you?

[32:06] How Jackie grew her HSA to $150,000

[39:14] Tips for cutting healthcare costs

 

Mentions:

Why You Should Consider Having a Health Savings Account (HSA) | E40 Sean Mullaney

CostPlus Drugs (Mark Cuban's pharmacy company)

goodrx.com

 

More of Jackie:

Jackie’s Linktr.ee

VisuallyAmber.com

 

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About the Podcast

FI Minded: Achieve Financial Independence & Have Fun Doing It
Achieve Financial Independence & Have Fun Doing It
Want to achieve Financial Independence (FI) without missing out on life?

FI Minded is the podcast for anyone seeking financial freedom, time freedom, and a work-optional lifestyle — all while enjoying the journey along the way.

Whether you’re at the beginning of your FI journey or already deep into Coast FI or Slow FI, this show gives you practical strategies and insights to reach early retirement and design a life that aligns with your values, purpose, and fulfillment.

Popular topics include:
- FI Optimization Strategies: Actionable advice to reach Financial Independence faster without unnecessary stress.
- Work Optional & Lifestyle Design: How to transition from the corporate grind and build a life of freedom, flexibility, and intentional living.
- Time Freedom & Coast FI: Making the most of your time while still planning for the future, including mini-retirements, travel, and other ways to enjoy your life now.
- Post-FI Identity & Purpose: What to do once you’ve achieved FI, and how to create meaning beyond money.
- Burnout & Balance: Avoid the pitfalls of over-optimization and learn to balance saving for the future with mental health and happiness.

If you want to reach financial independence, design a life that’s purposeful and fun, and avoid burnout along the way, FI Minded is your guide to building a sustainable, fulfilling, and free life.

Some of our past guests include Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Jill Sirianni (Frugal Friends), Jackie Cummings-Koski (Catching Up to FI), Joel Larsgaard (How to Money), Cody Garrett (Measure Twice), Jesse Cramer (Personal Finance for Long-Term Investors), Jess (The Fioneers), Chris Hutchins (All The Hacks), Diania Merriam (EconoMe), and many more inspiring voices in the FI space.
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