Episode 143

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Published on:

19th Jun 2024

Work Optionality: A Different Way to Imagine at FIRE | E143 Rachael Camp

Work optionality is the idea that you work because you want to, not because you have to. As you’re listening to this in your 20s, this concept might seem like a pipe dream. That’s truly fair. Most of us don’t have this luxury. We are building wealth, along with just paying our bills, and it takes income to do that.

But this idea might not be as far away as you think. Regardless of your timeline, as your wealth grows even before you hit financial independence, I think you should be itching closer to a life designed by you, not your employer or clients.


This might include changing your hours, taking more time off work, participating in mini-retirements, pivoting careers, or starting a business.


This is an idea that Rachael Camp, Founder of Camp Wealth, is routinely discussing both online and with her clients. And I asked her to come on the podcast to do the same. Rachael is a financial planner who helps young professionals maximize their money for financial freedom. She has also redesigned her life over the last few years and she told me it feels way more aligned.


In this episode, we break down the nuance between traditional FIRE and work optionality. Rachael shares steps you can take to start progressing towards a work-optional life and she shares questions to ask yourself to uncover what that life would truly look like. Also at the end of the episode, I ask Rachael to break down some of her most popular tweets from the last month.


This is a really fun, wide-ranging conversation and you can probably tell, I had a lot of blast getting to know Rachael.


So if you’re ready to do the same, let’s get into it. I hope you enjoy my conversation with the former Hoosier turned Denverites…Rachael Camp.


Key Takeaways:

  • The difference between traditional FIRE and work optionality
  • Important questions to ask yourself to get closer to your ideal life
  • Rules to help you spend more
  • Why you should take more risks in your 20s
  • How to make a plan for your money


More of Rachael:

YouTube: https://www.youtube.com/@CampWealth/videos

Website: https://www.rachaelcampwealth.com/


More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/

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About the Podcast

FI Minded - Financial Independence, Early Retirement & Lifestyle Design
Achieve Financial Independence & Have Fun Doing It
Pursuing financial independence, financial freedom, or early retirement often leads to the same questions: How do I become financially independent? How much should I save? What happens after I reach FI?

FI Minded helps you use money to create more freedom, without turning your entire life into a financial optimization project.

Host Justin Peters explores the decisions behind building a flexible, work-optional life, from reaching financial independence and navigating Coast FI and Slow FI to spending your money, changing careers, stepping away from work, and figuring out what comes after FI.

Each episode combines practical personal finance with conversations about early retirement, lifestyle design, work, spending, healthcare, self-employment, and life after financial independence. The goal isn't simply to reach FI as quickly as possible. It's to make progress toward financial freedom while actually enjoying your life along the way.

On FI Minded, you'll learn how to:
- Reach financial independence without burning out
- Build a flexible, work-optional lifestyle
- Navigate Coast FI, Slow FI, and other paths to FI
- Make smarter decisions about spending and saving
- Prepare financially and emotionally for early retirement
- Figure out what life can look like after financial independence
- Think through the tradeoffs behind major money and lifestyle decisions
- Make progress toward financial independence while actually living your 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), Andy Hill (Marriage Kids Money), Fritz Gilbert (Retirement Manifesto), Maggie Tucker (Inside Out Money), Cody Berman (The Financial Independence Show), Joe Saul-Sehy (Stacking Benjamins), Doug Cunnington (Mile High FI), and and others helping you rethink how to approach financial independence.
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