You do not have to be a genius or a multimillionaire to get out of debt and live comfortably. It is never too late to start planning for your financial future as long as you realize the importance of maximizing your current resources. To help you build wealth and live life on your terms, my guest today removes the uncertainty from your financial future by explaining what to buy, how much to spend, and how to maximize every dollar you earn. In today's episode of Pursuit of Learning, we're joined by Sam Dogen, founder of Financial Samurai.Sam spent 13 years in investment banking before launching the personal finance website, Financial Samurai. Several high-profile newspapers and magazines have profiled him, including The Wall Street Journal, The Sydney Herald, The Chicago Tribune, and The Los Angeles Times. Also, Sam has written new book, "Buy This, Not That: How to Spend Your Way to Wealth and Freedom”. Sam discusses financial terms, including analysis paralysis, probabilistic thinking, income tethering, and FIRE (Financial Independence Retire Early). He mentions that the rate you reach financial independence depends on your work ethic, savings, and willingness to take risks. [01:30] Financial Freedom - What is financial freedom? What is passive income?[06:26] Analysis Paralysis - Most of the time, we must act on a decision without complete information. Sam discusses how much information is required before taking action. [10:42] Probabilistic Thinking –  Sam explains what probabilistic thinking is and how we can modify our ability to think in probabilities to enhance our frameworks for decision-making. [15:44] FIRE – What is FIRE? FIRE stands for Financial Independence Retire Early.[25:25] Do You Know - How many assets are required to generate a specific amount of income? What is the safe rate of withdrawal? [37:08] Three Components - The pace at which you build your wealth is proportional to your efforts, your savings rate, and the amount of risk you're willing to take.[47:05] Income Tethering - Sam elaborates on income tethering.[49:53] Sam's Pieces Of Advice - It is not necessary to achieve financial independence by a specific age. Resources:Website: financialsamurai.com/LinkedIn: linkedin.com/in/sam-dogen-aa2152178/Twitter: https://twitter.com/financialsamuraBook by Sam:  Buy This, Not That: How to Spend Your Way to Wealth and Freedom: https://www.financialsamurai.com/btnt/