[philco]

Ok, We'll start :) We're building the world's first bank that is a true fiduciary. Our mission is to enable the 70% of Americans who have less than 5k in savings, and the 76% who can't pass a financial literacy exam achieve financial independence.

How?

We only offer one product - a smart checking account that acts as a financial advisor + planner. (Think of your finances on autopilot).

For every other product or financial service, we refer you to the best in class offerings by other companies.

Need a loan? We'll find a new loan at the cheapest terms possible, or automatically look for refinancing opportunities as your financial condition improves. Need to plan for retirement? We'll find the best retirement service providers that suit your needs.

Check us out on fixbanking.com.

Goodluck everyone!

[crabasa]

Love this idea. I discovered FI(RE) a couple of years ago, and it changed my life. When I think of the number of tools I use to manage my finances and the amount of time I devote to it, it's no wonder more people aren't excited about taking control of their finances. Good luck!

[philco]

FI(RE) is great - Happy to hear you found something that works with your mental model and you can follow. So many of us don't yet!

[paulcole]

How do you define "financial independence"?

[philco]

The definition varies depending on your age. A financially independent 25 year old is very different than a financially independent 85 year old. Generally speaking, here's how we think about it:

1) Full Emergency Funds - Ability to cover life's unexpected twists. (40% of Americans owe collectors money for times they were sick).

2) Not swimming backwards - A manageable debt profile that has no high interest debt.

3) Ability to retire at a "reasonable" age - Not all of us will be able to stop working at 67, but all of us should be able to retire and cover all of our retirement expenses before our bodies give out.