DiscoverBiggerPockets Money Podcast314: Finance Friday: How to Get to Early Retirement Even Faster
314: Finance Friday: How to Get to Early Retirement Even Faster

314: Finance Friday: How to Get to Early Retirement Even Faster

Update: 2022-07-01
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Description

Those searching how to retire early usually come away with one conclusion—you have to make much, much more money. Most financial independence pursuers think that a large salary or enormous sum of assets is what will bring them closer to FI. Fortunately for you, that isn’t always the case, and you’ll see exactly why when we talk to today’s Finance Friday guest, Rebecca.

Rebecca makes a great salary. Actually, she makes two great salaries, working at her government job during the dayand her technical writing job at night. She’s pulling in six figures, owns her own home, and splits expenses with her boyfriend. But she’s struggling to put together a passive income portfolio that will give her a good amount of monthly income when she decides to leave work. So what’s the missing piece in this passive income puzzle?

Scott and Mindy sift through Rebecca’s finances and find some strikingly simple ways that she (and all of you) can save money every month and get to financial freedom decades in advance. This strategy isn’t hard, but it will take a little bit of willpower to get done. Thankfully, even those FIRE movement and financial freedom chasers who aren’t die-hard FI fanatics can still take these lessons to heart.

In This Episode We Cover

Building a passive income plan that can carry you along in early retirement

Budgeting and expense tracking that can save you hundreds (or thousands) a month

Emergency funds and “financial runway” that’ll give you more choices in life

When luxury spending (pool cleaners, house cleaners, etc.) is acceptable

House hacking and how to build wealth all while lowering your housing costs 

The “true value” of your retirement pension and why it may not be worth the extra years of service

And So Much More!


Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Scott's Instagram

Mindy's Twitter

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Subscribe to The “On The Market” YouTube Channel

Listen to The “On The Market” Podcast: SpotifyApple PodcastsBiggerPockets

Check Out Mindy’s 2022 Live Spending Tracker and Budget

Amazon

Finance Friday: Sell (Don’t Rent) Your Primary Residence When You Move Out

Pensions 101: Are Pensions Worth It? w/ Grumpus Maximus


Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

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314: Finance Friday: How to Get to Early Retirement Even Faster

314: Finance Friday: How to Get to Early Retirement Even Faster