Episodes

  • How to Build (and Enjoy) Your “Dream” Life in Early Retirement | Life After FIRE

    How to Build (and Enjoy) Your “Dream” Life in Early Retirement | Life After FIRE
    May 2 2025
    What if you reached financial independence…before knowing what it was? That’s what happened to Chris Rusin. After discovering the FIRE movement and stumbling across Mindy and Carl’s blog, he realized he was already at his goal. Then, early retirement unlocked a new life full of wild adventures, creative rebirth, and deeper purpose! Welcome back to the BiggerPockets Money podcast! Chris had been hustling, saving money, and chasing financial freedom for years before experiencing a big wake-up call. He encountered a half-billionaire who, despite “having it all,” was deeply unhappy and filled with regret. That moment sparked a shift—not toward more money, but toward more meaning. Since then, Chris has dived for treasure with Navy SEALs, unearthed dinosaur fossils, and much more—all before turning 50! But he’s also faced his fair share of fear and uncertainty. After receiving a cancer diagnosis and losing his voice to chemotherapy, he made a promise: if his voice came back, he’d finally record the album he’d dreamed of making. And he did. Stick around till the very end to hear the “world premiere” of Chris’ brand-new song! In This Episode We Cover What really happens after you achieve financial independence Designing your “dream” life once you reach early retirement How to maintain a sense of purpose after retiring from your nine-to-five The secret to weathering major portfolio swings in retirement A BiggerPockets-exclusive live rendition of Chris’ brand-new song And So Much More! Check out more resources from this show on ⁠⁠BiggerPockets.com⁠⁠ and ⁠⁠https://www.biggerpockets.com/blog/money-636 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    30 mins
  • The Single Biggest Risk That Could Stop Your Early Retirement (& How to Dodge It)

    The Single Biggest Risk That Could Stop Your Early Retirement (& How to Dodge It)
    Apr 29 2025
    You’re part of the FIRE movement (financial independence, retire early) so you can quit your job, have complete time freedom, and truly enjoy your life. But what if early retirement isn’t all that it’s cracked up to be? What if you grind for years or decades, reach your FIRE number, quit your job, and realize… you’re bored? Your schedule is wide open, but what do you fill it with? You start asking yourself, “Did I pursue FIRE for financial freedom—or to escape something else entirely?” Tyler Gardner, former portfolio manager and financial advisor, has seen the toxic side of FIRE far too often. Tyler believes that working on something you love can be far more meaningful than early retirement, and he might be right. Early retirees often struggle with their post-career lifestyle, and many find they can’t thrive without meaningful work. This identity shift can cause profound dissatisfaction, even after so much sacrifice to get to this point. Tyler’s advice: slowly phase out of work or have other income streams that can keep you going, not just for your mental health but your portfolio’s health. So, how do you do that? Mindy, Scott, and Tyler have a meaningful debate, with significant disagreements, on the best way to phase out full-time work, why a 100% stock portfolio may be safer than you thought, and the toxic side of FIRE nobody talks about. In This Episode We Cover The problem with FIRE and why early retirement won’t solve everything The #1 risk early retirees are NOT prepared for and how to ensure you keep your FIRE blazing How to phase out of work even if you have a demanding, full-time, 40+ hours per week job Why working during early retirement is not a bad thing and has massive benefits Creating cash flow before you retire and how to minimize the dreaded “sequence of returns risk” And So Much More! Check out more resources from this show on ⁠BiggerPockets.com⁠ and ⁠https://www.biggerpockets.com/blog/money-635 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    53 mins
  • We Paid Off $500K in Debt: Now We’re on Track to Retire (Early) in Our 50s

    We Paid Off $500K in Debt: Now We’re on Track to Retire (Early) in Our 50s
    Apr 25 2025
    Fear that early retirement is out of the question because you have too much debt? It’s not game over. Whether you’re debt-free or still chipping away at your student loans, today’s guests are proof that FIRE is never too far out of reach—even if you’ve got half a million dollars in debt! Welcome back to the BiggerPockets Money podcast! Amirra and Mazi Condelee’s first date was an all-timer. While many consider personal finance a taboo topic, they cut right to the money talk—specifically, debt. And it was a good thing they did because they’ve racked up a combined $500,000 in student debt. Most would assume this spells doom for financial independence, but Amirra and Mazi knew they could pay it off by increasing their income, cutting costs, and staying disciplined. In just five years, they’ve snowballed out of student loan debt and toward their long-term goal—retiring in their 50s. Now that this power couple is nearly debt-free, they’re focused on saving for retirement. Tune in to learn what they still need to do to reach their (high) FIRE number, why they refuse to downsize their dreams, and how they plan to spend their retirement! In This Episode We Cover How Amirra and Mazi crushed $500,000 in student loan debt in just five years Best practices for paying off debt and fast-tracking financial independence How to determine whether your FIRE number is too high (or low!) The money conversations you and your partner NEED to have How to “travel hack” your way to FREE vacations (without spending more) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-634 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    59 mins
  • Healthcare Hacks That Could Save You Thousands on the Journey to FIRE

    Healthcare Hacks That Could Save You Thousands on the Journey to FIRE
    Apr 22 2025
    Wealth and health are closely intertwined, especially here in the US, where the high cost of healthcare can put significant financial pressure on families. But is there a remedy to these exorbitant expenses that Americans are missing? Stay tuned and we’ll show you how to negotiate your medical bills—even if you’ve reached FIRE! Welcome back to the BiggerPockets Money podcast! Unpredictable healthcare costs keep many would-be retirees tethered to their nine-to-five jobs, but today’s guest has a solution. Jared Walker founded Dollar For, a nonprofit organization that has helped erase over $83 million in medical costs for everyday Americans. How? The Affordable Care Act (ACA) requires many healthcare providers to offer a program that discounts costs for patients, so Jared and his team simply use it to negotiate people’s medical bills on their behalf. High healthcare costs affect everyone, whether you’re facing hardship, trying to reach financial independence, or already retired. In this episode, Jared will share tips anyone can use to minimize their healthcare costs and negotiate their own medical bills! In This Episode We Cover How to negotiate and lower your medical bills (even if you’re retired) Saving thousands on healthcare with this Affordable Care Act (ACA) program How to use cash payments as leverage when negotiating medical debt The healthcare “hack” that helps you spot erroneous or exorbitant charges The two best ways to proactively minimize healthcare costs And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-633 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 mins
  • The Financial Order of Operations for FIRE (Step-by-Step Early Retirement Plan)

    The Financial Order of Operations for FIRE (Step-by-Step Early Retirement Plan)
    Apr 18 2025
    Most people chasing FIRE (financial independence, retire early) are doing it all out of order, and it’s costing them years of financial freedom. So, we thought, “What’s the fastest way to achieve FIRE, and which steps would you take if you were starting from scratch?” Today, we’re bringing you a supercharged financial independence plan, sharing the exact financial order of operations that’ll take you from a $1,000 emergency fund to fully-fledged early retirement. We know the steps because we’re reverse-engineering our own paths to financial independence, and we WISH we had done some of these earlier. If you’re a beginner in the FIRE movement, start here and work through these steps to FIRE the fastest. If you’re close to FIRE already or at a significant financial milestone, don’t worry. We have tips you can use right now to retire earlier and avoid the “middle-class trap” that kills so many FIRE dreams. We’re going through retirement accounts, emergency funds, cash-flowing investments, and side hustles to help you earn more. Plus, what to do once you make TOO much money to invest in tax-advantaged retirement accounts. In This Episode We Cover The exact financial order of operations to reach financial independence fastest The bare minimum emergency fund you should have in your bank account at all times How to calculate your FIRE number in five seconds so you know your goal What to do when you make TOO much money to invest in a Roth IRA When to STOP investing in retirement accounts to avoid the middle-class trap Moves to make as soon as you’re retired early that’ll make your FIRE last even longer And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-632 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    41 mins
  • The “Silver Lining” for Investors After a Historic Week for Stocks| Life After FIRE

    The “Silver Lining” for Investors After a Historic Week for Stocks| Life After FIRE
    Apr 16 2025
    We’re coming off one of the wildest weeks in stock market history. How are retirees reacting to these massive swings? How should you adjust your FIRE portfolio in case there are even more turbulent times ahead? We’re chatting with someone who’s in the loop! Welcome back to the BiggerPockets Money podcast! Today, Emma von Weise, certified financial planner (CFP), returns to the show to give her perspective on the recent stock market volatility. She’ll share what her clients are doing and the course of action she recommends for those who are worried about their nest egg crumbling. Times like these prove you need an investment plan. If you don’t already have one, Emma will show you how to create it. You’ll also learn how a few years of cash distributions can help you protect your investments and keep you from selling stocks at a loss. Are bonds actually a “safe haven” for investors? We’ll make sense of rising yields and, finally, share a tax strategy YOU can take advantage of during a stock market slide to trim your taxable income! In This Episode We Cover How to adjust your FIRE portfolio after recent stock market volatility How cash distributions protect retirees from selling stocks low in a downturn Why you need to create an investment plan today (if you don’t have one!) How to balance “growth” and “safety” in your investment portfolio Why bond yields have spiked after a huge sell-off (and whether you should buy) Offsetting capital gains from stocks through tax-loss harvesting And So Much More! Links from the Show Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Join BiggerPockets for FREE Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook Subscribe to the BiggerPockets Money YouTube Channel! Get $100 Off Your Ticket to BPCon2025 BiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces “A Guided Meditation for When the Stock Market Is Dropping” Emma’s LinkedIn Fine-Tune Your FIRE Portfolio with “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces Connect with Carl Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-631 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    36 mins
  • Early Retirement “Traps” That Delayed My FIRE by a Decade

    Early Retirement “Traps” That Delayed My FIRE by a Decade
    Apr 15 2025
    Early retirement in your 50s is a dream for most Americans, but today’s guest is sharing how she could have retired in her 40s, a decade earlier, if she had avoided these FIRE “traps.” Yes, it IS possible to FIRE in your 40s even with much of your money in retirement accounts. “But I thought you couldn’t take out that money until you’re 59.5?” That’s where you’re wrong, and today, Diana Hummel is showing YOU how to withdraw from your retirement accounts even earlier. In her mid-30s, Diana had a huge wake-up call. Her parents, who had just retired, suddenly passed away. This lit a flame that would eventually ignite a full FIRE under Diana to live life on her terms well before the standard retirement age. She and her husband saved diligently, invested heavily, and were able to quit their jobs at 45, starting two businesses, one of which broke even while the other turned a profit. The problem? Diana most likely had enough money to retire once she quit her W2, but she didn’t realize she could FIRE so early. Thanks to Roth conversions, 72(t) strategies, and smart tax planning, Diana is fully retired and ready to teach you how to FIRE faster! In This Episode We Cover How to withdraw from retirement accounts early and FIRE in your 40s or 50s The 72(t) strategy explained and using your 401(k) to retire early (seriously!) Early retirement healthcare and how Diana is covering it with pre-existing conditions Retiring during a stock market crash and how new retirees can handle 2025’s bumpy market The biggest FIRE regret Diana has and a lesson you should learn before you retire (early) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-630 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    44 mins
  • How to FIRE in Your 40s on a Teacher’s Salary (or Average Income) (Finance Friday)

    How to FIRE in Your 40s on a Teacher’s Salary (or Average Income) (Finance Friday)
    Apr 11 2025
    Is it possible to reach FIRE by 45, even on a teacher’s salary or an average income? Today’s guest is proving that, yes, you can retire early, regardless of your paycheck. It may be a little harder than it is for high-income earners, but with frugality, discipline, and smart investments, regular people can achieve FIRE! Welcome back to the BiggerPockets Money podcast! At just 31 years old, Kat has been diligently maxing out her retirement accounts, saving a ton of cash, and making enormous strides towards retiring by age 45. Most would say this is a long shot for someone with a teacher’s salary, but thanks to a high savings rate and savvy financial decisions, Kat is right on track to reach her lofty goal. The real question is, should she? Kat will need to grind for the next 15 years to retire on her original timeline. Is it worth taking an extra couple of years to reach financial independence if it prevents burnout? In this episode, Mindy and Amberly will break down Kat’s options, help her avoid the dreaded middle-class trap, and give her a roadmap for achieving FIRE quickly while also enjoying the journey! In This Episode We Cover Kat’s roadmap to FIRE by age 45 (on a teacher’s salary!) Why you DON’T need to be a high income earner to retire early When to stop contributing to retirement accounts and pivot to other investments Giving yourself financial flexibility by saving cash (and how to deploy it) When you should (and shouldn’t) pay off your mortgage early Why it’s worth taking extra time to enjoy the journey to financial independence And So Much More! Links from the Show Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Join BiggerPockets for FREE Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook Subscribe to the BiggerPockets Money YouTube Channel! The Simple Path to Wealth The Fioneers Coast FI Calculator FIRE Faster with the Book, “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 259 - Pensions 101: Are Pensions Worth It? w/ Grumpus Maximus Connect with Amberly Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-629 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    57 mins