Episodios

  • How to Create Huge Tax Savings Funding Your Kid’s College (& FIRE on Time!)

    How to Create Huge Tax Savings Funding Your Kid’s College (& FIRE on Time!)
    May 9 2025
    Paying for college is one of the biggest financial hurdles families face—even as you’re chasing or approaching FIRE. What’s the smartest way to save for higher education while also securing your financial future? Scott, Mindy, and Amberly are breaking it all down on today’s episode! Welcome back to the BiggerPockets Money podcast! There are several ways to fund your child’s education, and if you’re actively building wealth, you likely have even more options at your disposal. We’ll show you how to find “free” money through government grants and scholarships, but since these could be off the table for those who are pursuing financial independence, we’ll also compare popular college savings accounts—like the 529 college savings plan and UTMA (Uniform Transfer to Minors Act) account. If you want to limit your tax liability, one option reigns supreme! We know this is a personal decision, and you shouldn’t be guilted into one direction or the other. Whether you’re saving for your own children, your grandkids, or just curious about how to balance college tuition costs with FIRE goals, we’ll equip you with a practical roadmap for funding education on your own terms—one that keeps you on track to retire early! In This Episode We Cover How Scott, Mindy, and Amberly are funding their children’s college education The pros and cons of 529 college savings plans versus UTMA accounts How to uncover “free money” to help pay for college tuition costs State-specific tax benefits to keep in mind when contributing to a 529 plan Securing your financial future before saving for higher education And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-639 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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    54 m
  • I Retired Early in My 40s WITHOUT Withdrawing from My Portfolio! | Life After FIRE

    I Retired Early in My 40s WITHOUT Withdrawing from My Portfolio! | Life After FIRE
    May 7 2025
    You CAN retire early in just ten years IF you save and invest enough. Fortunately, your retirement expenses may be less than you think. Chris Luger, from Heavy Metal Money, didn’t think about retiring early until a divorce made him take control of his finances. He realized that the path to early retirement was only ten years away, so he started saving—a lot. Chris managed to save and invest 70% of his income for seven years, and just last year, he pulled the trigger and retired! And here’s the kicker—Chris isn’t even touching his retirement portfolio. Thanks to a passive income side hustle, he’s funding his lifestyle without drawing down his nest egg. Chris is proof that even after divorce, with kids and an event-packed lifestyle, you CAN afford to retire early. What’s Chris’s investment portfolio made up of? What’s his passive income-producing side hustle? And how does he deal with stock market downturns without losing his head? Chris shares the raw realities of early retirement, the biggest struggles to prepare for, and the one thing that makes FIRE truly amazing once you achieve it. In This Episode We Cover How to retire early in your 40s by supercharging your savings rate Why you need a passive income stream to have a stress-free FIRE lifestyle Is a financial advisor worth it? Why Chris is confident in his decision to use an advisor What you need to prepare for NOW if you’re planning on retiring early Why Chris is worried about running out of life, not money, in early retirement (and you should be, too) 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! Rich Dad Poor Dad Sahil Bloom: The “X Factor” for Financial Freedom and Why FIRE Won’t Make You Happy When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE Heavy Metal Money Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Grab the Personal Finance Classic, “Rich Dad Poor Dad” Sign Up for the BiggerPockets Money Newsletter Property Manager Finder When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE Connect with Chris Connect with Carl Check out more resources from this show on ⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠ and ⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-638 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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    38 m
  • The 4% “Rule” is Wrong for FIRE—Here’s a Better Alternative

    The 4% “Rule” is Wrong for FIRE—Here’s a Better Alternative
    May 6 2025
    For decades, the 4% rule has been the calculation every FIRE chaser has used to determine when they can retire early—risk-free. The math is simple: have a portfolio big enough to withdraw 4% per year to fund your lifestyle. But there’s one BIG problem with the 4% rule that nobody is talking about—a problem that could force you to work longer, ruin your retirement lifestyle, and put your portfolio in jeopardy if you don’t plan carefully. Tyler Gardner, former portfolio manager and financial advisor, is back on the show to share why much of the FIRE community may be wrong about this “rule.” Scared of not having enough to retire, retiring during a market crash, or being forced to be frugal once you leave the workforce? That’s precisely what we’re talking about in today’s episode. The 4% rule has become untouchable within the FIRE movement, but its hard-and-fast downsides may lead to your FIRE’s demise. Tyler shares what he thinks is the ultimate FIRE portfolio allocation, why he’s way more bullish on stocks and index funds than bonds, EVEN during retirement, and why target date retirement funds—often scoffed at—can actually help protect your portfolio once you FIRE. If you’re planning on retiring early with the 4% rule, think again. All of us have our doubts, and we’re sharing them today. In This Episode We Cover Why the 4% “rule” is WRONG for most FIRE chasers, and why withdrawing only 4% could be a mistake The new (updated!) FIRE number that most people should be chasing Hate your job and want to retire early? Here’s why you should find a better career (NOT quit) instead The ultimate FIRE portfolio allocation and why a target date retirement fund actually makes sense for many 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! Connect with Tyler on Instagram Connect with Tyler on TikTok Your Money Guide on the Side Podcast Want to FIRE in 2025? How to Prepare for Early Retirement w/Emma von Weise Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Get to FIRE Faster with “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area (00:00) Intro (02:05) Is the 4% Rule Wrong?(06:05) This Saves Your FIRE (10:09) “One More Year” Syndrome(14:33) Healthcare in Early Retirement(16:34) Ultimate FIRE Portfolio Allocation(24:29) Include Real Estate?(29:49) Target Date Retirement Funds(36:25) Don’t Quit Working? (54:30) Find a Job You LOVE(57:02) Connect with Tyler!(58:30) FIRE Chasers Are Wrong! Check out more resources from this show on ⁠⁠⁠BiggerPockets.com⁠⁠⁠ and ⁠⁠⁠https://www.biggerpockets.com/blog/money-637 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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    1 h y 11 m
  • 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 m
  • 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 m
  • 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 m
  • 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 m
  • 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 m
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