What does it mean to “win” financially in your income bracket? To us, the end goal is always FIRE (Financial Independence, Retire Early), and if you’re chasing financial freedom, this is the show for you. We’re breaking down the money moves you need to make based on your income bracket, going from $45,000 to $100,000 per year, and how to stretch your dollar the furthest so you can invest, save, and reach FIRE faster.
If you’re at the lower end of the income scale, we’ll give you time-tested methods to boost your income and use your time wisely so you can start stockpiling cash TODAY. If you have a high income, there’s still work to be done as you need to find the best way to keep the most of your income so you can use it to acquire wealth-building assets.
Regardless of how much money you make, you CAN achieve FIRE if you know the proper steps. The good news? We’re sharing those steps today, so stick around!
In This Episode We Cover
How to speed up your path to financial independence based on your income bracket
Why we disagree about retirement account investing when you’re just starting your career
Ways to make more money and side hustles that can boost your income
The headache-free vs. hands-on approach to investing for FIRE (and who should take which path)
Lifestyle creep and avoiding overspending (EVEN if you have a higher income)
How much money we reasonably think you’ll need to achieve FIRE
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: Mindy@biggerpockets.com
Email Scott: Scott@biggerpockets.com
BiggerPockets Money Facebook Group
BiggerPockets Money 32 - Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio w/Planting our Pennies
BiggerPockets Money 35 - Hacking Your Life to Live for (Almost) Free with Craig Curelop
BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic
BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life
BiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry
BiggerPockets Money 328 - The Best Alternative Investment No One Knows About w/Alex Breshears and Beth Johnson
The One Thing
How to Win Friends and Influence People
The E-Myth Revisited
The Go-Giver
The Challenger Sale
Learn Private Money Lending with “Lend to Live”
Find an Investor-Friendly Agent in Your Area
See Mindy and Scott at BPCON2024 in Cancun!
FIRE in 2024: What We’d Do Differently If We Started Over Today
(00:00) Intro
(01:08) $45,000/Year Income
(12:37) $75,000/Year Income
(23:11) $100,000/Year Income
(28:48) How Much for FIRE?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-568
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