BiggerPockets Money Podcast

The Mad Fientist’s New Rule To Retire Early Even Sooner

13 snips
Dec 24, 2024
Guest
Brandon
Brandon, known as the Mad Fientist, is an early retiree and financial independence advocate. He shares his decade-long experiments in early retirement strategies and discusses updating the outdated 4% rule for a smoother early retirement journey. Brandon reveals you might need less savings than previously thought and emphasizes the importance of flexible spending. He also explores how to navigate market crashes and the balance between enjoying life and saving for the future, urging listeners to rethink financial priorities.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
INSIGHT

4% Rule Mismatch

  • The 4% rule, designed for traditional retirement, doesn't suit early retirees.
  • Early retirees have more flexibility with discretionary spending.
ADVICE

Track and Categorize Spending

  • Track spending to understand your needs for early retirement.
  • Categorize expenses as necessary or discretionary for flexibility.
INSIGHT

Discretionary Spending & Withdrawal Rate

  • Higher discretionary spending allows for a higher withdrawal rate.
  • With 70% discretionary expenses, a 6.5% withdrawal rate has a 98% success rate historically.
Get the Snipd Podcast app to discover more snips from this episode
Get the app