{"id":11696,"date":"2025-03-14T01:23:58","date_gmt":"2025-03-14T01:23:58","guid":{"rendered":"https:\/\/finderica.com\/?p=11696"},"modified":"2025-03-14T01:23:58","modified_gmt":"2025-03-14T01:23:58","slug":"podcast-89-boldin-your-wealth-with-jackie-cummings-koski-from-catching-up-to-fi","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=11696","title":{"rendered":"Podcast 89: Boldin Your Wealth with Jackie Cummings Koski from Catching Up to Fi"},"content":{"rendered":"<div>\n<p>In this episode of <em>Boldin Your Money<\/em>, Steve Chen sits down with Jackie Cummings Koski, co-host of <em>Catching Up to FI<\/em>, to talk about her inspiring journey to financial independence after overcoming poverty, divorce, and single motherhood. Jackie shares practical advice for late starters, those in their 40s, 50s, and beyond who feel behind on saving for retirement. They cover the importance of mindset, overcoming the fear of investing, and how to build wealth even if you\u2019re starting late. Whether you\u2019re looking for guidance, motivation, or just the reassurance that it\u2019s not too late, this episode has something for you.<\/p>\n<p>Watch the video on our <a href=\"https:\/\/youtu.be\/RCSVmVZ4kRw?si=Ih_rUPkRMUyoMCbX\" target=\"_blank\" rel=\"noopener\">YouTube Channel<\/a>:<\/p>\n<p>\n  <iframe title=\"Boldin Your Wealth with Jackie Cummings Koski from Catching Up to Fi (ep. 89)\" width=\"788\" height=\"443\" src=\"https:\/\/www.youtube.com\/embed\/RCSVmVZ4kRw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><br \/>\n  <\/iframe>\n<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-listen-now\">Listen Now<\/h2>\n<p><a href=\"https:\/\/the-newretirement-podcast.simplecast.com\/episodes\/catching-up-to-fi\" target=\"_blank\" rel=\"noreferrer noopener\">Listen to the podcast on Simplecas<\/a><a href=\"https:\/\/the-newretirement-podcast.simplecast.com\/episodes\/fritz-gilbertom\/episodes\/ryan-vangorder\" target=\"_blank\" rel=\"noreferrer noopener\">t<\/a> or right here:<\/p>\n<p>\n  <iframe height=\"200px\" width=\"80%\" frameborder=\"no\" scrolling=\"no\" seamless=\"\" src=\"https:\/\/player.simplecast.com\/5e629b5a-beb3-41a9-8bd8-c6aa49719101?dark=false\" style=\"max-width: 800px; display: block; margin: 0 auto;\"><br \/>\n  <\/iframe>\n<\/p>\n<h3 class=\"wp-block-heading\" id=\"h-callouts\">Callouts:<\/h3>\n<p><a href=\"https:\/\/catchinguptofi.com\/\" target=\"_blank\" rel=\"noopener\">Catching Up to Fi<\/a><\/p>\n<p>[14:40] <a href=\"https:\/\/www.betterinvesting.org\" target=\"_blank\" rel=\"noopener\">Better Investing<\/a><\/p>\n<p>[29:58] [48:00] <a href=\"https:\/\/amzn.to\/4bq9Nc1\" target=\"_blank\" rel=\"noopener\">Fire for Dummies<\/a><\/p>\n<p>[24:18] [25:37] <a href=\"https:\/\/amzn.to\/3XuFkUB\" target=\"_blank\" rel=\"noopener\">Simple Path to Wealth by J Collins<\/a><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/groups\/catchinguptofi\" target=\"_blank\" rel=\"noopener\">Catching Up to Fi Facebook group<\/a><\/p>\n<p><a href=\"https:\/\/linktr.ee\/cutfi\" target=\"_blank\" rel=\"noopener\">https:\/\/linktr.ee\/cutfi<\/a><\/p>\n<p>[34:03] <a href=\"https:\/\/amzn.to\/4bBQ0GD\" target=\"_blank\" rel=\"noopener\">The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel<\/a><\/p>\n<p>[45:56] <a href=\"https:\/\/www.wsj.com\/finance\/investing\/financial-planning-fortune-tellers-aee6eee1\" target=\"_blank\" rel=\"noopener\">Link to WSJ article\u00a0\u00a0<\/a><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-transcription\">Transcription<\/h2>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2425.12\" target=\"_blank\" rel=\"noopener\"><strong>40:25<\/strong><\/a><strong>):<\/strong><\/p>\n<p>That\u2019s awesome. I mean, it\u2019s pretty amazing. I think this whole podcasting and Zoom video stuff where we can bounce around and see each other, it\u2019s amazing. Maybe you can share a couple stories from people you\u2019ve helped great comeback stories or people that have done great like yourself.<\/p>\n<p><strong>Jackie Cummings Koski (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2441.56\" target=\"_blank\" rel=\"noopener\"><strong>40:41<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Oh gosh. Well, we have a whole lot of guests that we have on the podcast, so we don\u2019t just have professionals and experts. We have some real life stories. And I think one of the most fun ones was Krista and Ed. They\u2019re a younger couple, I think they\u2019re in their thirties, maybe early forties with four boys, and they were actually the case study at Economy and we did a follow up with them. So it was just interesting how they shared their story and through working with them, one of the most important thing we saw was their love and connection with each other because she was a single mom for a long time and they met after she had two kids already, and the way that they worked together to figure this stuff out, they had student loans that they had to deal with trying to put the boys school.<\/p>\n<p>(<a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2494.37\" target=\"_blank\" rel=\"noopener\">41:34<\/a>):<\/p>\n<p>And even though they haven\u2019t reached financial independence or retired early, they have so much clarity now. She had a luxury vehicle and I drive a luxury vehicle, so there\u2019s nothing wrong with that, and I didn\u2019t want anybody to shame her over that. But she recently posted that she sold the vehicle, but at the time when we were working with her, it was something that we didn\u2019t need to be judgmental about, but after taking a really close look at everything, she came to that decision herself. And that\u2019s the beauty of it. We can\u2019t be the ones to come in and say, oh, you need to cut this, this, and that. When you don\u2019t even know their values, you don\u2019t know the backstory of why they made this decision or what it means to them. My job and any financial professional that\u2019s trying to help somebody is to help people arrive at their own decisions and for them to set up their own value system and we support it, and we could be a better professional by just listening to what they\u2019re saying, and then we actually can get more buy-in when we understand what a certain item or something means that on the surface might look like they\u2019re not being responsible.<\/p>\n<p>(<a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2569.04\" target=\"_blank\" rel=\"noopener\">42:49<\/a>):<\/p>\n<p>So even though she hasn\u2019t made it to financial independence or retire early, I love her realization that she came to on her own.<\/p>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2578.1\" target=\"_blank\" rel=\"noopener\"><strong>42:58<\/strong><\/a><strong>):<\/strong><\/p>\n<p>I think it\u2019s powerful when people at least have a plan and kind of vision For one, they understand what\u2019s happening and they\u2019re taking action and they can see some progress, and then to know that they\u2019re okay, like if you\u2019re starting to save money and you start to have some reserves, then it takes a lot of the pressure off versus being like, I\u2019m a paycheck to paycheck person. And there\u2019s not a lot of financial shock absorbers to kind of pick up the slack if something goes sideways, which invariably it does in our lives. It\u2019s like nothing\u2019s ever perfect.<\/p>\n<p><strong>Jackie Cummings Koski (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2608.4\" target=\"_blank\" rel=\"noopener\"><strong>43:28<\/strong><\/a><strong>):<\/strong><\/p>\n<p>I can say that every day we get feedback from our listeners in our community via the Facebook page. We have a speak pipe where they can leave a voice message and they can leave a message on any of the social media platforms or on the podcast player. So it just warms our hearts. Some of the messages that we get. We just had a 30-year-old woman, she was an immigrant that came to the us. She\u2019s 38. She said, I have just listened to all 120 episodes of your podcast. This is where people should start. Everything has been so helpful. And it was just hearing her voice and the excitement that it\u2019s like, wow, I\u2019m finally making sense of it. And I guess one, I\u2019ll mention an individual, but I do this all the time, but we have media people sometime that we talk to, that you talk to.<\/p>\n<p>(<a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2664.89\" target=\"_blank\" rel=\"noopener\">44:24<\/a>):<\/p>\n<p>Obviously they\u2019re asking us something about finances or investing or something like that. Well, in my mind, their regular people just like me and you, and they need to get their finances together too. So I always end up with a side conversation with the journalist or the writer or the interviewer. And there was one producer, I was lucky enough a few years ago where I had a segment on the Rachel Ratio and their producer. I helped her craft the segment and she wanted it to be about 4 0 1 ks and where people start investing. And she wanted to focus on target date funds. I told her, I said, the average person has no idea what they\u2019re invested in. That\u2019s something they want to look at. Some of these target date funds, they\u2019re not all created equal, so probably one extra click will get you a one pager that will show you everything that\u2019s in there.<\/p>\n<p>(<a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2718.45\" target=\"_blank\" rel=\"noopener\">45:18<\/a>):<\/p>\n<p>If your intention at let\u2019s say 26, is to be in an all stop index fund and you go to your target date fund and it says you\u2019re only 80% in the stock market, that\u2019s not consistent with what you want. I said, Hey, have you, I think her name was Kathy, and I said, have you looked at your 401k? Do you know what you have in there? She goes, actually, I haven\u2019t. Well, the very next day she sends me an email, she goes, oh, I finally went into my 401k and I saw what I had, and I took all your advice. So I\u2019m always happy when it happens sort of organically. Everyone needs a little financial education.<\/p>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2756.55\" target=\"_blank\" rel=\"noopener\"><strong>45:56<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Yeah, it\u2019s interesting. We were actually lucky enough, the <a href=\"https:\/\/www.wsj.com\/finance\/investing\/financial-planning-fortune-tellers-aee6eee1\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a> covered us, and it was this guy, Jeremy Olsen, who\u2019s the personal finance main kind of editor guy there, and he himself was getting into planning. He had just turned 50 and he turned into a 401k millionaire and he was sharing like, okay, this is interesting. They\u2019ve been working and saving, building some wealth, and now they\u2019re like, I got to really start paying attention because how I\u2019m going to turn this money into these assets into income and make sure it lasts the rest of my life and be tax smart, benefit smart, think about healthcare and all the rest of it. But yeah, everybody, even if they\u2019re in the business, there\u2019s always lessons on how we can do better. All right. Well look, Jackie, this has been fantastic. So catching up to FI podcast and community and stuff, we\u2019ll send folks there. Any other resources that you have found really helpful for your community that you think folks should know about?<\/p>\n<p><strong>Jackie Cummings Koski (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2810.97\" target=\"_blank\" rel=\"noopener\"><strong>46:50<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Yeah, I think the biggest things, we\u2019ve talked a lot about community. So we have a Facebook group that\u2019s very active. We\u2019ve got 17,000 people in there now, and that\u2019s with kicking the spammers and the scammers out of there every single day<\/p>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2823.69\" target=\"_blank\" rel=\"noopener\"><strong>47:03<\/strong><\/a><strong>):<\/strong><\/p>\n<p>All the time. Yeah, you got to place it.<\/p>\n<p><strong>Jackie Cummings Koski (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2824.77\" target=\"_blank\" rel=\"noopener\"><strong>47:04<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Yeah, it\u2019s a warm, welcoming community and we often will have events, maybe we\u2019ll do a webinar on a topic, or maybe we\u2019ll have an in-person event at a conference, like an economy. We always do a little side get together. So that community part has been huge. And that is aside from the podcast, perhaps they listen to the podcast, we told \u2019em about the Facebook group. That\u2019s where all the interaction, the activity, the education. We even have a lot of experts that were prior guests on our podcast that\u2019s in that <a href=\"https:\/\/www.facebook.com\/groups\/catchinguptofi\" target=\"_blank\" rel=\"noopener\">Facebook group<\/a> answering questions. So that is probably the second most valuable resource I could turn them to. And of course, I wrote that little book called <a href=\"https:\/\/amzn.to\/4bq9Nc1\" target=\"_blank\" rel=\"noopener\">Fire for Dummies<\/a> that if you want sort of a prescriptive type of thing or a guide, a lot of what I talk about on the show, it is in that book. And it takes you through step-by-step, starting with the psychological part, knowing where you\u2019re at, and then hitting all those, that basic formula of building wealth to the point where you don\u2019t have to be tied to a job and you reach that financial independence.<\/p>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2892.67\" target=\"_blank\" rel=\"noopener\"><strong>48:12<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Awesome. Jackie, it\u2019s awesome to hear your story and also kind of hear how you\u2019re helping folks that feel like they didn\u2019t get started on time and think that\u2019s true for everybody. Now. Everyone wishes they could have started saving earlier and investing earlier, but it\u2019s great that people are seeing success. So Jackie, thanks for your time and the work that you\u2019re doing. It\u2019s great to hear your story and hear about the impact.<\/p>\n<p><strong>Jackie Cummings Koski (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2916.58\" target=\"_blank\" rel=\"noopener\"><strong>48:36<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Alright, Steve, this has been great. So nice to talk to you.<\/p>\n<p><strong>Steve Chen (<\/strong><a href=\"https:\/\/www.rev.com\/app\/transcript\/NjdjMGI2NTlhYjAzMzNkMjNlMTgwZjMwUW1ScXZqTWVlTWtQ\/o\/VEMwMDUyODM2MDIz?ts=2919.76\" target=\"_blank\" rel=\"noopener\"><strong>48:39<\/strong><\/a><strong>):<\/strong><\/p>\n<p>Likewise. Okay, and then for folks listening, check out the podcast mentioned all feedback is welcome. All comments back are welcome, and if you want to lead either of us a review, that also is super helpful for us podcasters that are trying to grow the audience. All right, thank you.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.boldin.com\/retirement\/podcast-89-boldin-your-wealth-with-jackie-cummings-koski-from-catching-up-to-fi\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this episode of Boldin Your Money, Steve Chen sits down with Jackie Cummings Koski, co-host of Catching Up to FI, to talk about her inspiring journey to financial independence after overcoming poverty, divorce, and single motherhood. Jackie shares practical advice for late starters, those in their 40s, 50s, and beyond who feel behind on<\/p>\n","protected":false},"author":2,"featured_media":11698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[348],"tags":[1046,4807,4805,4804,4806,3149,1020],"class_list":{"0":"post-11696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-retirement","8":"tag-boldin","9":"tag-catching","10":"tag-cummings","11":"tag-jackie","12":"tag-koski","13":"tag-podcast","14":"tag-wealth"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/11696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11696"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/11696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/11698"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}