Transforming Financial Perspectives and Career Paths

In this chapter, an individual's journey from a lower middle-class upbringing to financial empowerment is explored. Their transformation begins with discovering the concept of early retirement, leading them to pursue financial literacy and navigate a successful career in software engineering.

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“Do I have enough to retire?” is a question most people in the FIRE community grapple with, but today, we’re sharing a FREE tool that will help you put this issue to bed! If you’re concerned about running out of money later in life or developing “One More Year Syndrome,” you won’t want to miss this episode!

Welcome back to the BiggerPockets Money podcast! Software engineer Lauren Boland has developed a FIRE calculator that predicts whether your nest egg will be able to support you in retirement. This powerful tool takes dozens of key data points—such as your financial independence number, retirement age, annual expenses, portfolio mix, and historical returns—to simulate multiple retirement scenarios. In this episode, Lauren, Scott, and Mindy are going to walk you through this powerful tool, step-by-step!

Does the four-percent rule still work in 2025? How much do you really need to save for retirement? Whether you’re just starting your quest for FIRE or looking to tweak your investment portfolio as you approach retirement, cFIREsim will show you where you stand and what you might need to adjust to meet your retirement goals!

In This Episode We Cover

A step-by-step walkthrough of Lauren’s FREE cFIREsim tool

How much money you actually need to retire early

Reverse-engineering your financial independence number

Whether you can still retire on the four-percent rule in 2025

How to ensure that your money not only lasts but also grows in retirement

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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