BiggerPockets Money Podcast

551: Retired Early at 44 by Buying These "Boring" Investments

Aug 2, 2024

Todd, a retiree who left his job at 44, shares his thrilling journey to early retirement just three years after discovering the FIRE movement. He candidly discusses quitting without reaching his FIRE number and the surprising strategies that worked for him. Todd highlights the appeal of 'boring' investments and how cutting expenses can accelerate your path to financial freedom. He also demystifies common myths about financial independence and offers actionable advice on managing real estate for passive income. Tune in for inspiring insights!

22:13

Episode guests

Todd

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Todd's early retirement at 44 illustrates that personal well-being can be prioritized over rigid financial targets in the FIRE journey.

Successfully achieving financial independence requires not just mathematical understanding but also managing lifestyle expenses and emotional readiness for retirement.

Deep dives

Todd Frank's Journey to Financial Independence

Todd Frank achieved early retirement at 44, just three years after discovering the financial independence, retire early (FIRE) movement. What makes his story unique is that he left his job without reaching a predetermined financial target, choosing instead to prioritize his well-being over financial perfection. Frank's journey began with an online discovery of financial blogs, leading him to adopt a methodical savings and investment approach over decades. By sticking to traditional mutual funds and a high savings rate, he built a substantial portfolio that enabled his early exit from the workforce.

Intro

2min

The Journey to Early Retirement Through Long-Term Investing

4min

Passive Real Estate Income Without the Hassle

1min

Myths and Realities of Financial Independence

7min

Navigating Financial Independence

9min

Todd retired early at age forty-four, just three years after discovering the FIRE movement. The most interesting part? He quit without reaching his FIRE number. That’s right. After realizing he couldn’t go one more day working his job, he quit, even without the perfect amount of money on the sidelines. Did he survive in the FIRE life, or did he eventually have to return to work to rebuild his portfolio? Stick around and find out!

Although Todd made a good income, he spent most of it on his lifestyle. As his family’s sole provider, every expense took away from his income, leaving him with a respectable but by no means large savings rate. One day, as Todd surfed the internet at work, he stumbled upon a financial independence blog post, and the rest was history! He chased FIRE ruthlessly for three years and eventually was able to retire on his terms.

If you’re looking to retire in your forties, quit your job, find financial freedom, or finally grow your savings, tune in for Todd’s advice. Even if you don’t have a high income, you can follow his cost-cutting, “boring” investing advice to achieve financial independence faster than you thought possible!

In This Episode We Cover

The “boring” investments that lead you to financial independence and early retirement

Coming up with your FIRE number and whether the 4% rule still works

Getting richer in retirement and how to build wealth WITHOUT working

How cutting your expenses will fast-track your path to early retirement

Quitting your job and why you MUST prepare for life in retirement BEFORE you walk away from your salary

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE